{"id":29814,"date":"2015-07-09T14:21:15","date_gmt":"2015-07-09T21:21:15","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=29814"},"modified":"2015-07-09T14:21:53","modified_gmt":"2015-07-09T21:21:53","slug":"bwin-party-confirms-gvc-bid","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/","title":{"rendered":"Bwin.party Confirms GVC Bid\u00a0"},"content":{"rendered":"
\"bwin.party,
Bwin.party board says it can \u201csee the potential benefits\u201d of the GVC \/Amaya deal, as it files another disappointing financial report. (Image: pokergruond.com)<\/figcaption><\/figure>\n

GVC\u2019s Amaya-backed bid for bwin.party<\/a> was confirmed by the board today.<\/p>\n

Yesterday, The Financial Times broke the story that GVC had made a $1.4 billion offer to acquire the entire share capital of the online gambling firm; today, the bwin.party board said it was considering the offer and could see the \u201cpotential benefits\u201d to bwin.party shareholders.<\/p>\n

It was currently committed to resolving a number of “transaction-related issues,\u201d it added.<\/p>\n

It is unclear whether 888 Holdings, which made an offer for bwin.party in March, is still at the negotiation table.<\/p>\n

\u201cAny offer made by GVC for bwin.party would include part of the consideration in new GVC shares,\u201d said Kenneth Alexander, Chief Executive of GVC Holdings, today. \u201cBased on our experience with the successful Sportingbet acquisition and restructuring, we believe that the potential combination of GVC and bwin.party would result in substantial financial and operating synergies and represent an excellent opportunity for both GVC and bwin.party shareholders.\u201d<\/p>\n

Amaya Providing \u201cSome of the Capital\u201d<\/b><\/h2>\n

Alexander was also able to confirm that Amaya Inc<\/a> is supplying \u201csome of the capital\u201d in the deal, and would therefore take \u201csome of the assets\u201d should it go ahead.<\/p>\n

It\u2019s understood that in the event of a takeover, GVC would own the majority of bwin.party, while Amaya would acquire the company\u2019s poker operations, thus giving it a foothold in the regulated New Jersey market.<\/strong><\/p><\/blockquote>\n

It\u2019s believed Amaya would also be given the option to buy the sportsbook from GVC in the future.<\/p>\n

The deal would be a reverse takeover comprised of a combination of new GVC shares and cash, although all parties have stressed that there can be no certainty that the deal will be accepted.<\/p>\n

Poor Sportsbook Results\u00a0<\/b><\/h2>\n

The news coincided with another disappointing financial report from bwin.party, which said that unfavorable sports results had led to a decline in gross win margins for the first half of the year.<\/p>\n

The company\u2019s mobile operations have grown, however, with mobile accounting for 31 percent of total gross gaming revenue in June, up from 23 percent in the previous year.<\/p>\n

\u201cDespite challenging comparatives together with the impact of EU VAT and POC tax, we are pleased with our business performance in the first half,\u201d bwin,party CEO Norbert Teufelberger said. \u201cWe have completed our new organisational set-up and streamlined our decision-making processes, significantly improving our operational performance.\u201d<\/p>\n

Despite the poor sports book results Alexander remained upbeat about the potential of a bwin.party acquisition.\u00a0 “It’s been a very difficult market for bwin but it\u2019s also been a very difficult market for everyone,” he said. “From the GVC perspective, one that excites me the most is bwin’s sports betting brand and that’s the brand with enormous potential.”<\/p>\n","protected":false},"excerpt":{"rendered":"

GVC\u2019s Amaya-backed bid for bwin.party was confirmed by the board today. Yesterday, The Financial Times broke the story that GVC had made a $1.4 billion offer to acquire the entire share capital of the online gambling firm; today, the bwin.party board said it was considering the offer and could see the \u201cpotential benefits\u201d to bwin.party […]<\/p>\n","protected":false},"author":42,"featured_media":29815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,13],"tags":[],"acf":[],"yoast_head":"\nBwin.party Confirms GVC Bid\u00a0<\/title>\n<meta name=\"description\" content=\"GVC and Amaya\u2019s $1.4 billion bid acknowledged by the bwin.party board and could see \u201cthe potential benefits.\u201d\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bwin.party Confirms GVC Bid\u00a0\" \/>\n<meta property=\"og:description\" content=\"GVC and Amaya\u2019s $1.4 billion bid acknowledged by the bwin.party board and could see \u201cthe potential benefits.\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-09T21:21:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-07-09T21:21:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwinparty_24.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/\",\"url\":\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/\",\"name\":\"Bwin.party Confirms GVC Bid\u00a0\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwinparty_24.jpg\",\"datePublished\":\"2015-07-09T21:21:15+00:00\",\"dateModified\":\"2015-07-09T21:21:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"GVC and Amaya\u2019s $1.4 billion bid acknowledged by the bwin.party board and could see \u201cthe potential benefits.\u201d\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bwin-party-confirms-gvc-bid\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwinparty_24.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwinparty_24.jpg\",\"width\":300,\"height\":250,\"caption\":\"Bwin.party board says it can \u201csee the potential benefits\u201d of the GVC \/Amaya deal, as it files another disappointing financial report. 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