Bwin.party looks to gamble on talks over possible £1bn takeover
ONLINE gaming company Bwin.party announced yesterday it was in early talks with a number of unnamed parties concerning a potential offer for the company, which could value it at just over £1bn.
The Gibraltar-headquartered firm issued the statement in response to speculation over a possible takeover. Its shares closed up 10.48 per cent at 119.1p following the news.
Bwin said: “The board of bwin.party confirms that it has entered into preliminary discussions with a number of interested parties regarding a variety of potential business combinations with a view to creating additional value for bwin.party shareholders.”
Canadian rival Amaya Gaming is said to have recently made a takeover bid for the company worth 145p a share, which would value it at just over £1bn. Isle of Man-based Playtech was also rumoured to be a possible bidder after the gaming software company announced it was raising €315m (£248m) from the sale of a convertible bond.
Bwin.party, Amaya Group and Playtech all declined to comment when contacted by CityAM