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Monday July 27,2015 :  G.V.C. CONFIRMS FURTHER OFFER FOR BWIN.PARTY (Update)
 
Online gambling group partners with New York hedge fund Cerberus in new bid.
 
Online gambling group GVC has made another bid for ownership of Bwin.Party, giving some credibility to the old saw that it's not over until the fat lady sings.
 
The company has confirmed media reports that it is partnering with New York hedge fund Cerberus in a new billion-pound bid to wrest Bwin.Party from the current agreement with 888 Holdings.
 
The 888 offer was valued at around GBP 898 million  Some reports suggest that Amaya Gaming is still interested in the GVC initiative, although GVC does not mention the company in its latest investor notification.
 
Amaya has responded to enquiries by saying that it was unable to comment on speculation, but its role in the bid alongside GVC and Cerberus is to be confirmed this week.
 
The GVC investor notification reminds readers that the 888 offer is currently 104.09p per Bwin.Party share before going on to advise that the new offer for the "entire issued and to be issued share capital" it has made would mean that Bwin.Party shareholders would receive 122.5p, consisting of up to 25p in cash (subject to confirmation by bwin.party that the cash position of bwin.party is as GVC expects based on information received to date), and the balance of the value in new GVC ordinary shares.
 
GVC says it will finance the deal via a combination of the issue of new GVC shares to Bwin.Party shareholders, and a Euro 400 million senior secured loan provided by affiliates of Cerberus Capital Management, L.P.
 
In addition, GVC intends to raise around GBP 150 million through an equity placing of new GVC shares for cash in order to fund restructuring costs, the refinancing of existing Bwin.Party debt and for additional working capital purposes.
 
If a transaction were to be completed, the GVC Board believes that cost reductions exceeding Euro 135 million per annum would be achieved across the enlarged group by the end of 2017.



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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