Online gaming operator 888 has revealed that is has made an offer to acquire the entire issued and to-be issued capital of rival company bwin.party.
The operator said in a statement that the acquisition would comprise cash and 888 shares.
Further development occurred this morning when Mark Kleinman, City editor at Sky News, tweeted that a joint Amaya-GVC bid could be on the cards, with Amaya taking bwin party’s regulated poker and casino business while GVC took over the sportsbook side of the business.
But if an agreement looks near-certain to be signed off by shareholders, it will be the workings of the post-deal environment that determine if it is successful (paywall).
Due to the size of the proposed transaction, the deal would require the approval of 888 shareholders.
The operator has noted that 59% of its shareholders have already voted, subject to customary conditions, to support the offer.
Despite having confirmed the offer, 888 warned there is “no certainty” a deal will be completed and that it will provide a further update in due course.
GVC’s €900 Million Bid for bwin.party bwin party has confirmed reception of GVC's acquisition offer this morning, the latter also stated it had approached bwin party with an offer at 110p per share, valuing the business at around €900m (€1.3bn/$1.4bn).
bwin party's announcement confirms media reports published earlier in […]
888 Acquires Bwin.Party for £898 Million 888 looks set to win the race to acquire rival online gaming operator bwin.party after agreeing a cash and stock deal worth approximately £898.3 million (€1.3 billion/$1.4 billion).
As reported by iGaming Business, 888 earlier this week confirmed it was to launch a last-ditch effort […]
888’s Last Push for Bwin.Party? Online poker operator 888 Group believes it is still at the table in the battle for the online gaming company Bwin.party. The group, which runs a popular poker website as well as online casino gaming, has arranged a meeting with Bwin this week. The move comes despite Bwin’s board […]