Bwin.party is currently up for sale and has been for some time now, with several top gaming groups interested in acquiring the brand. Both Amaya Gaming and 888 Holdings are reported to be interested in the gaming company which offers poker and additional gaming options. With both big operators interested in bwin.party, there could possibly be a bidding war taking place in the near future for the acquisition of the company.
Even though the company has been for sale for several months, talk of the interested parties is only just now heating up. Because of rumors of both Amaya Gaming and 888 being interested in the company, the shares of the company have increased as much as 10% as the rumor mill continues to circulate.
Just yesterday, 888 Holdings confirmed they are interested in taking over bwin.party. In the statement, 888’s Board noted the speculation of their interest in the brand and stated that here is a ‘significant industrial logic’ in combing 888 with bwin.party which would benefit both companies as well as shareholders. For 888 to take on bwin.party, the shareholders of 888 would have to approve. The shareholders of the company represent 59% of the share capital and would need to vote in favor of the transaction for 888 to move forward. 888 has submitted a proposal but the amount bid for bwin.party has not been released.
GVC holdings is also interested in the bwin.party company and has reportedly teamed up with Amaya Gaming to bid on the brand. Several outlets are reporting the bid with Reuters stating the amount of $1.7 billion is on the table. Reports also suggest that Amaya is interested in the poker side of bwin.party and would leave the rest of the gaming to be conducted by GVC.
It is interesting to note that the acquisition by Amaya or 888 of bwin.party would affect the United States online gaming market. Bwin.party and 888 already operate poker and casino gaming in the state of New Jersey and PokerStars is trying to get started in the state. By combing 888 and bwin.party, there would be more competition with PokerStars once the brand receives approval. However, if Amaya takes over the poker side of bwin.party with an acquisition, then PokerStars would certainly have the upper hand once licensing is given for operation within the state.
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