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888 HOLDINGS COMMENTS ON BWIN-PARTY BID

Friday August 28,2015  : 888 HOLDINGS COMMENTS ON BWIN-PARTY BID
 
"We're still the best offer," statement proclaims.
 
After some weeks of silence whilst GVC has been upping its offer for Bwin-Party, rival bidder 888 Holdings plc issued a statement Thursday indicating that it stands on its earlier proposal, which the Board of Bwin-Party continue to recommend.
 
The statement noted that the 888 board of directors "...continues to believe that the combination of the 888 and bwin.party businesses announced on 17 July 2015 under the 888 management team would generate significant value for both sets of shareholders."
 
The statement reprises the fact that following a detailed due diligence exercise, 888 made an offer comprising a significant cash component along with an approximate 49 percent ownership interest in the combined business.
 
It notes that: "This offer was unanimously recommended by bwin.party. The Board continues to believe that its offer is of significantly greater intrinsic value than the proposal outlined by GVC Holdings plc on 24 August 2015.
 
"The Board notes that it remains the unanimously recommended bidder and continues to work towards the completion of the proposed transaction.
 
“888 publishes its interim results for the 6 months to 30 June 2015 on 28 August 2015 and anticipates publishing a prospectus and shareholder circular in relation to the proposed transaction on the same day."

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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