GVC hints at possible interest in bwin.party

GVC hints at possible interest in bwin.party

Thursday, March 26, 2015

Speculation that GVC Holdings could be in the running to take over online gambling operator bwin.party has intensified after the online casino and sportsbook’s chief executive, Kenneth Alexander, revealed that the company is on the look-out for potential acquisitions.

Earlier this month, bwin.party confirmed that it had entered into advanced talks with potential suitors regarding the possibility of selling all or part of its business.

Although the identities of the potential investors have not been revealed, GVC, which this week reported significant growth across its business in 2014, is one of the companies to have been linked with a bid. 

As reported yesterday by TotallyGaming.com here, in the wake of GVC’s latest results, Alexander said that GVC would consider “something like” bwin.party and added that the company would be keen to find a takeover target that would offer a comparable impact to that of Sportingbet, which was acquired in 2013. 

GVC acquired Sportingbet in a deal worth £31m (€42.1m/$46.1m). Sportingbet now accounts for over half of GVC’s annual revenue.

GVC is yet to comment on a possible valuation of bwin.party. GVC's share price on the London Stock Exchange has increased by nearly 10p to 464.4p since Alexander's comments.

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