{"id":30011,"date":"2015-07-21T13:30:30","date_gmt":"2015-07-21T20:30:30","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=30011"},"modified":"2015-07-21T13:30:30","modified_gmt":"2015-07-21T20:30:30","slug":"is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/","title":{"rendered":"Is GVC Raising Funds For Monster Bwin.Party Bid Without Amaya?"},"content":{"rendered":"
\"GVC,
The battle for bwin.party may not be over yet. GVC is rumored to be preparing a new offer, this time without Amaya\u2019s capital. (Image: Bwin.party)<\/figcaption><\/figure>\n

GVC Holding\u2019s Amaya-backed bid for bwin.party may have been snubbed in favor of 888 Holdings\u2019 \u201csafer\u201d offer, but rumors suggest the company may not be done just yet.<\/p>\n

According to sources in London\u2019s banking district, GVC is prepared to go it alone, and has been canvassing financial institutions on the possibility of raising capital for a mammoth leveraged takeover of bwin.<\/p>\n

This time around, Amaya Inc would out of the picture.<\/p>\n

\u201cWe\u2019re reviewing our options and we\u2019re not ruling anything out,\u201d a GVC spokesperson told the Daily Telegraph newspaper.<\/p>\n

Perceived Risk<\/b><\/h2>\n

The GVC-Amaya bid of \u00a3908 million ($1.471 billion) was rejected last week, despite being \u00a310 million ($15.5 million) higher than 888\u2019s.<\/p>\n

The bwin.party board called that a \u201cmodest incremental premium,\u201d that would not offset the perceived risk of the joint bid.<\/p>\n

Under the terms of the GVC-Amaya proposal, GVC would have owned the majority of bwin.party, including the sportsbook, while Amaya would have acquired the company\u2019s poker operations.<\/p>\n

Two years later, once GVC had restructured the assets, Amaya would then be given the option to buy the sportsbook from GVC, according to some sources.<\/p>\n

Thus, the GVC deal would essentially have broken up bwin.party, while the 888 proposal will keep its various assets under one roof.<\/p>\n

It was a tactic that worked for GVC in 2012 when the company acquired Sportingbet jointly with William Hill.<\/p>\n

Together the two companies created a vehicle for a takeover that saw William Hill absorb Sportingbet\u2019s Australian and Spanish operations, while GVC took most of its gray market business.<\/p>\n

Going Solo<\/b><\/h2>\n

However, in this instance, the 888 offer provided \u201ca higher degree of certainty for bwin.party shareholders,\u201d said the board, including synergies between the two companies that would make integration easier and save costs further down the line.<\/p>\n

Both companies have offices in London, Gibraltar, Israel and Romania, for example, while overlaps in certain regulated markets are expected to save the new group millions by removing duplicated costs and administration fees.<\/p>\n

In this way, the combined 888-bwin group would hope to save $70 million a year by 2018.<\/p>\n

The integration process proved to be a protracted and difficult one when bwin merged with Party Poker in 2011 and the board is clearly wary of repeating the experience.<\/p>\n

But GVC is banking that a solo bid, without Amaya at the table, would remove some of the complications that have spooked the bwin.party board.<\/p>\n

The question is whether GVC can raise enough capital without the help of Amaya to make a bid that would make the bwin.party shareholders sit up and take notice.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

GVC Holding\u2019s Amaya-backed bid for bwin.party may have been snubbed in favor of 888 Holdings\u2019 \u201csafer\u201d offer, but rumors suggest the company may not be done just yet. According to sources in London\u2019s banking district, GVC is prepared to go it alone, and has been canvassing financial institutions on the possibility of raising capital for […]<\/p>\n","protected":false},"author":42,"featured_media":30012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,13],"tags":[],"acf":[],"yoast_head":"\nIs GVC Raising Funds for Monster Bwin.Party Bid without Amaya?<\/title>\n<meta name=\"description\" content=\"GVC may be about to check-raise 888 Holdings in the battle for bwin.party, according to rumors emanating from London\u2019s financial district.\u00a0\" \/>\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=\"Is GVC Raising Funds for Monster Bwin.Party Bid without Amaya?\" \/>\n<meta property=\"og:description\" content=\"GVC may be about to check-raise 888 Holdings in the battle for bwin.party, according to rumors emanating from London\u2019s financial district.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/\" \/>\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=\"2015-07-21T20:30:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwin.party_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\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\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/\",\"url\":\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/\",\"name\":\"Is GVC Raising Funds for Monster Bwin.Party Bid without Amaya?\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwin.party_.jpg\",\"datePublished\":\"2015-07-21T20:30:30+00:00\",\"dateModified\":\"2015-07-21T20:30:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"GVC may be about to check-raise 888 Holdings in the battle for bwin.party, according to rumors emanating from London\u2019s financial district.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/is-gvc-raising-funds-for-monster-bwin-party-bid-without-amaya\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwin.party_.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/07\/bwin.party_.jpg\",\"width\":1280,\"height\":853,\"caption\":\"The battle for bwin.party may not be over yet. 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