888 confirms Bwin Party bid

bwin partyOnline 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.

More at iGaming Business

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