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BWIN - G.V.C. CONFIRM ACQUISITION NEGOTIATIONS
Friday May 15,2015 : BWIN - G.V.C. CONFIRM ACQUISITION NEGOTIATIONS IN PROGRESS (Update)
The rumours were true...but there are other suitors.
Speculation that the European online gambling group Bwin Party Digital Entertainment was in talks with a sale in mind have been circulating since last November, and rose to a fever pitch this week, with media reports sending the share price northwards.
The name that keeps cropping up is GVC Holdings, which teamed up on the Sportingbet acquisition last year with William Hill and has let it be known that it remains on the acquisition trail.
On Friday GVC and Bwin Party issued very similar statements reconfirming to the market that they were in talks.
The Bwin statement referred to the media speculation and said that it is continuing its discussions with GVC and "a number of third parties", adding that GVC has submitted a revised set of proposals regarding a variety of possible business combinations.
The GVC statement revealed that the group has submitted a proposal for the acquisition of Bwin.Party Digital Entertainment in its entirety. The company also noted that if the proposed transaction were to be approved, the acquisition would be treated as a reverse takeover that would require the approval of the shareholders.
Both companies have cautioned that there can be no guarantee that these discussions will result in any transaction being completed, and have committed to giving a further update in due course.
London Stock Exchange data on Friday morning portrayed Bwin Party as having a market capitalisation of GBP 805 million, compared with GVC’s market capitalisation of roughly GBP 280 million.
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Super Multitimes Progressive HD Slot -
This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.
2017 Aussie Milliona Updates Events 2,3,4 -
Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.
Juventus name VWin as Partner -
“We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.
Luckia Group 2016 Results -
The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.
Fire Rooster Slot Launches -
This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.
n2-Live Updates -
The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”
Betfred FY 2016 -
Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.
Cherry CEO Fredrik Burvall Steps down -
Anders Holmgren, currently a board member of Cherry AB and one of the founders of Betsson where he also held the role of chief executive officer of Betsson Malta
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