Bwin Acquisition to Cost $1.7 Billion
The Reuters News Service has been making reports claiming that the internet betting firm known as “Bwin.Party Digital Entertainment” is going to be acquired by another gambling firm in the upcoming weeks and that it could be a deal that worth as much as $1.7 Billion.
The reports are claiming that secret bids have been taking place on the firm, the largest so far being $1.7 billion, which was rumored to be offered by GVC Holdings. This deal is similar to that of the PokerStars and Full Tilt Poker acquisition which took place last year with Amaya Gaming. There are also rumors that 888 Casino has also made an offer for Bwin.com which would allow for them to soar to one of the largest names in the European online gambling market.
Reuters also claims that Amaya Gaming is also considered to purchase Bwin. This would be easy for them to do so as GVC only has a market value of $440 Million while 888 has a market value of $947 Million. Amaya on the other hand has a market value totaled at $3.6 Billion, allowing for them to easily purchase this site and outbid all others in the process. As of right now it is presumed that GVC Holdings is teaming up with Amaya Gaming so that this large bid can be placed & so that GVC may still have some percentage in the Bwin.Party name.
If this proves to be the case this shall not be the first time that GVC Holdings has ever made a synergistic deal as they’ve previously teamed up with William Hill in order to acquire SportingBet.