SBC News bwin.party in advanced discussion with potential buyers

bwin.party in advanced discussion with potential buyers

yea
Philip Yea

Having announced no corporate growth in its 2014 full year performance this Wednesday, bwin.party governance has revealed that it has received several offers from interested parties in buying its business divisions or all of the Company.

Non-Executive Chairman Philip Yea stated that the company was in advanced discussions with potential buyers, but neglected to give further insight on how many there were and what business assets the buyers were interested in.

Speaking to the Financial Times Yea Said

“We’re testing them against each other and against business as usual, these processes take whatever time they take”

Throughout 2014, bwin.party had been subject to speculation of a business asset ‘sell-off’ or a corporate acquisition. In November 2014 company governance confirmed that it had begun talks with interested parties.

A bwin.party corporate re-structure has seen the company re-focus on key products and markets, as the operator closed down non- essential business assets such as social gambling product WIN.

On Wednesday bwin.party governance stated that it would look to implement further cost saving measures, as the operator looks to recover its position and market share in the online gambling sector.

CEO Norbert Teufelberger wants the company to focus on optimising its mobile product channels and improving business efficiencies in products such as casino and bingo which saw steep declines in 2014

Speaking on upcoming challenges for bwin.party, Yea further stated

“We think the industry has good reasons to consolidate, But just because we’re ready to discuss it, it doesn’t mean everyone else is.”

Check Also

SBC News Delasport: sports betting through the ages – part II

Delasport: sports betting through the ages – part II

Welcome to the second part of Delasport’s deep dive into sports betting through the ages. …

SBC News GVC Holdings confirms Barry Gibson as new Chairman

GVC Holdings confirms Barry Gibson as new Chairman

GVC Holdings has confirmed the appointment of Barry Gibson as the operator group’s Non-Executive Chairman, …

Betting on Sports 2019 20/20 Vision Track

Operator CEOs head 20/20 Vision track at Betting on Sports 2019

Jesper Svensson, CEO of Betsson, and Pinnacle CEO Paris Smith are among the leaders offering …