{"id":30425,"date":"2015-08-08T13:14:30","date_gmt":"2015-08-08T20:14:30","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=30425"},"modified":"2015-08-08T13:23:06","modified_gmt":"2015-08-08T20:23:06","slug":"gvc-ups-ante-again-in-bid-for-bwin-party","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/","title":{"rendered":"GVC Ups Ante Again in Bid for Bwin.party"},"content":{"rendered":"
\"GVC,
How high can you go? GVC has sweetened its offer for bwin.party. Will 888 bid back? (Image: pokerindustrypro.com)<\/figcaption><\/figure>\n

<\/i>GVC Holdings has increased its offer for bwin.party to \u00a31.03 billion ($1.6 billion), around \u00a3100 million ($155 million) higher than its previous bid, made just two weeks ago.<\/p>\n

The ball is now squarely in 888\u2019s court, as analysts fully expect GVC\u2019s rival to come back with an improved offer of its own.<\/p>\n

Both of the recent GVC offers trump 888\u2019s current offer of \u00a3898 million ($1.4 billion), but the bwin board is understood to consider 888 to be the more attractive suitor because of company synergies that will generate millions in cost savings down the line.<\/p>\n

“I think it’s unlikely to be the end,” Canaccord Genuity analyst Simon Davies, told Reuters today. “It is at a materially higher rate than the 888 offer so I would expect the (bwin) board to use this as leverage to see if 888 might be prepared to raise their offer.”<\/p>\n

Offer Not Enough?<\/b><\/h2>\n

The new GVC offer, which values bwin at 125.5 pence per share, is still short of the 140 pence that major bwin shareholder Jason Ader said that GVC<\/a> would have to bring to the table.<\/p>\n

Ader, an activist investor, owns 5.2 percent of bwin.party through his hedge fund company Springowl Asset Management LLC.<\/p>\n

He told Bloomberg last week that GVC had done \u201cjust enough to have a conversion,\u201d empathizing that he still saw \u201ca lot of risks\u201d in the offer. Despite being the company\u2019s second-biggest shareholder, Ader\u2019s opinions to do necessarily reflect the opinions of the board, however.\u00a0<\/strong><\/p><\/blockquote>\n

While 888 has been quiet on the bidding front for some time, the company\u2019s chairman, Brian Mattingley, spoke to UK newspaper The Times<\/i> this week, and appeared relaxed about the process.<\/p>\n

Manchester United Drops Bwin<\/b><\/h2>\n

\u201cWe have rehearsed our strategy more times than we care to think of,\u201d he said. \u201cWe know how it\u2019s going to be done. I am confident this is do-able with lowish risk.<\/p>\n

\u201cI don\u2019t think it\u2019s only the quality of the paper,\u201d he continued, \u201c\u2026we know how to execute it and obtain the synergies. I think we have satisfied the target company that we are a good, straightforward, honest, hard-working and fit company to go forward.<\/p>\n

\u201cOur growth has not come just from doing wacky things in illegal territories; it has come from driving customers through our CRM and marketing campaign. The bwin.party board unanimously recommended our bid.\u201d<\/p>\n

Shares in Bwin\u00a0rose slightly to 117.6 pence during morning trading in London, valuing the business at \u00a3975m. In the three months since the initial 888 offer, the company\u2019s stock has climbed by 38 percent.<\/p>\n

In other bwin news, the company\u2019s high-profile relationship with Manchester United appears to be at an end, just four months after it launched the Manchester United Casino app.<\/p>\n

The soccer club has dropped bwin in favor of Marathonbet as its new global betting partner.<\/p>\n

Bwin might console itself with the fact that it at least lasted longer than Radamel Falcao.<\/p>\n","protected":false},"excerpt":{"rendered":"

GVC Holdings has increased its offer for bwin.party to \u00a31.03 billion ($1.6 billion), around \u00a3100 million ($155 million) higher than its previous bid, made just two weeks ago. The ball is now squarely in 888\u2019s court, as analysts fully expect GVC\u2019s rival to come back with an improved offer of its own. Both of the […]<\/p>\n","protected":false},"author":42,"featured_media":30426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,20,1],"tags":[],"acf":[],"yoast_head":"\nGVC Ups Ante Again in Bid for Bwin.party<\/title>\n<meta name=\"description\" content=\"GVC increases offer for bwin.party by $100 million as the world awaits 888\u2019s inevitable response.\" \/>\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=\"GVC Ups Ante Again in Bid for Bwin.party\" \/>\n<meta property=\"og:description\" content=\"GVC increases offer for bwin.party by $100 million as the world awaits 888\u2019s inevitable response.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/\" \/>\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=\"2015-08-08T20:14:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-08-08T20:23:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/08\/gvc-screenshot_pro_cropped.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"940\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/\",\"url\":\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/\",\"name\":\"GVC Ups Ante Again in Bid for Bwin.party\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/08\/gvc-screenshot_pro_cropped.jpg\",\"datePublished\":\"2015-08-08T20:14:30+00:00\",\"dateModified\":\"2015-08-08T20:23:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"GVC increases offer for bwin.party by $100 million as the world awaits 888\u2019s inevitable response.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/gvc-ups-ante-again-in-bid-for-bwin-party\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/08\/gvc-screenshot_pro_cropped.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/08\/gvc-screenshot_pro_cropped.jpg\",\"width\":940,\"height\":470,\"caption\":\"How high can you go? 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