• GVC Increases Its Bid for Bwin.Party Yet Again

    27 August 2015

    Bwin.party offices

    We've seen bidding wars over company buy-outs in the online gambling world before, but we've never really seen anything like what's happening over the sell of Bwin.Party. 888 Holdings and GVC have been in a massive bidding war for months over the company, and GVC has increased its offer yet again. The new offer is worth a total of about £1.1 billion, a tremendous increase from its original offer of £1 billion that was made in partnership with the Amaya Gaming Group.

    Where is Amaya?

    One question that's coming from this increased bid has to do with the position of Amaya in all of this. They were originally partnered with GVC on the first bid, but they haven't really been mentioned on the past two. When you combine this with the fact that Amaya was involved in one of the biggest deals of 2014 when they purchased the Rational Group (owner of PokerStars and Full Tilt Poker) and made Canada the center of the online poker universe, their absence is pretty suspicious.

    Enter Jason Ader

    A really interesting part of this equation is that Bwin.Party shareholder Jason Ader could be the source of some major resistance on this new bid. He's very insistent on a price of 140p per share, and the newest bid from GVC is only 130p per share. He could hold things up, and it's hard to tell what direction things are going to go in. With the way this bidding war has been going, however, they could very well end up exceeding that if 888 Holdings comes back with something stronger.

    Nature of the Bidding War

    What's happening right now is basically that 888 Holdings and GVC are giving competing offers for Bwin.Party, and stockholders are having to meet to decide which offer they want to take. While GVC is offering more upfront for the company, 888 Holdings seems to have a strategy based around giving more on the back end. It's not really clear which side has the upper hand right now, but with Ader adding a lot of pressure for upfront money, it would seem that GVC has the advantage (even if Amaya isn't in the picture).


    Related News

    • 13 January 2018

      $279,000 (19.2 BTC) Win at BitStarz on Book of Fortune Slot

      BitStarz has crowned another bitcoin gambling champion with a 19.2 BTC ($279,000) quick payout on Amanet's (Amatic Industries online) Book of Fortune slot. The lucky player from Russia reportedly generated a 1,000x multiplier and collected the huge cash prize on a single spin. Highly Volatile Game

      Read full article
    • 10 December 2017

      BingoBilly' $10,000 Santa Patterns Party

      Every weekend, Friday through Sunday, in the month of December will feature a $10,000 Santa Patterns Party at BingoBilly. There is lots of cash to be won by lucky players. Just head to the Lucky Cup Diner Room to take part in the holiday celebrations where the halls are decked with cards of bingo. Handing Out Christmas Cash Bingo Manager, Laura Chacon said: "We’re in full holiday mode and decking our Bingo rooms with all kinds of Christmas cheer.

      Read full article
    • 06 December 2017

      Battle of the Ages Begins; Highlander Live Today!

      As promised in an October 2, 2017, announcement of a finalized licensing agreement, Microgaming has released their Highlander™ online video slot today (Wednesday). The game is played on 5 reels with 3 visible positions each and has no traditional pay lines, rather, there are 243 ways to win on any spin.

      Read full article