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Big Money Bids For Bwin TakeOver
Monday May 18,2015 : BIG MONEY IN BWIN BIDS (Update)
Amaya, GVC and 888 all reportedly involved in attempted acquisition offers.
The Reuters news agency has updated the available information on the projected sale of Bwin Party Digital Entertainment, reporting that around $1.7 billion could be involved in attempts to take the company over.
In a new report, the news agency reports that the much-publicised GVC Holdings Euro 1.5 billion bid is in concert with Canada's Amaya Inc., and consists of cash and GVC shares.
Earlier today (Monday) 888 Holdings advised that it intended to make a bid for Bwin Party, setting the scene for a bidding war. 888's offer has not so far been disclosed.
The acquisition interest has provided a boost for the Bwin share price, which was up almost 8 percent midday Monday.
Reuters puts GVC's market value of about $440 million, 888 of roughly $947 million and Amaya of around $3.6 billion.
GVC is no stranger to joint acquisition projects; in 2013 the company partnered with William Hill plc to take over Sportingbet - William Hill took the Australian and Spanish operations of the company, with GVC taking on the rest of its business.
Amaya has not commented on the speculation that it is in a deal joint acquisition move with GVC.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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