Tag Archives: bwin.party

bwin.party reports revenue decline in tough comparative year

Issuing a Q3 2015 trading update this morning, bwin.party Entertainment reported a year to date (period ending 30 September) revenue decline of 8% to €430 million (2014: €466 million). bwin.party governance stated that its revenue decline reflected a tough comparative period for its business, with no major summer football tournament. Furthermore, 2015 has seen the operator face increased tax charges …

Read More »

bet365 to contest Romania license revoke

bet365 management is considering contesting Romanian ONJN’s decision to blacklist and revoke its online betting license despite paying the regulators obligatory back taxes. October saw the ONJN publish its latest blacklist of operators deemed to be breaching national gaming laws. ONJN confirmed that it had revoked bet365.com betting licence, but did not clarify its reasons for the repeal. bet365 management …

Read More »

Romania ONJN blacklists bwin.party services

bwin.party brands have been blacklisted by the Romanian online gaming regulator despite the operator having re-paid €8 million in back taxes and having been approved an igaming licence by authorities. Romania’s regulator ONJN published a new blacklist of offending operators (click here to view list), which featured bwin.com, partycasino.com and partypoker.com. ONJN informed that the bwin.party brands had breached national …

Read More »

GVC reports record daily revenue gains as bwin.party acquisition nears

Issuing a trading update London AIM listed online gambling operator GVC Holdings has reported record daily net gaming revenue gains (NGR) for its nine month 2015 activity (period ending 30 September). As GVC governance moves to complete its £1.1 billion acquisition of bwin.party Entertainment assets, the operator disclosed an 11% uplift to its daily NGR to €670,000 (Q1-Q3 2014 period – €606,000). GVC’s online …

Read More »

Doubts rise over GVC Holdings acquisiton of bwin.party

UK newspaper The Independent has reported that the decision by bwin.party Entertainment governance to accept the £1.1 billion takeover offer by GVC Holdings has been thrown into fresh doubt as both operators have suffered declines in their share prices. The newspaper details that the total worth of the cash and shares deal for bwin.party now matches the bid value of …

Read More »

Brian Mattingley – 888 is No Takeover Target

Having pulled out of the bwin.party Entertainment takeover race last Friday, 888 Holdings Chairman Brian Mattingley has told the Financial Times that the company is still on the lookout for further acquisitions. The 888 Chairman further stated that the operator was “not a target” within the consolidating igaming sector which has seen significant M&A activity in 2015. Mattingley noted that …

Read More »

888 Holdings walks out of bwin.party takeover discussions

Following this morning’s announcement by bwin.party Entertainment governance, that it had selected GVC Holdings £1.1 billion takeover offer over its prior bid of £908 million, 888 Holdings governance has publicly announced that it has withdrawn from acquisition discussions. The withdrawal sees 888 ends its deal co-operation agreement (accepted on 17 July) with bwin.party governance. In a short statement, 888’s board concluded that …

Read More »

bwin.party accepts GVC’s £1.1 billion takeover offer

bwin.party Entertainment governance has accepted GVC’s £1.1 billion takeover offer, in preference of bid competitor 888 Holdings £908 offer. Following a review by bwin.party on the conditions of GVC’s cash and shares offer valued at 125.5p per share, bwin.party governance will now push to clear GVC bid as the best offer for its shareholders. Bwin.party Chairman Philip Yea said in …

Read More »

888 prepares improved bid for bwin.party

In its battle to win the takeover of bwin.party Entertainment from GVC Holdings, 888 is preparing to up its cash and shares offer for the operator in response to last week’s announcement that bwin.party governance would review the conditions of GVC’s bid. The increased bid by 888 Holdings has been made, despite bwin.party governance recommending its £908 million offer to …

Read More »

Revenues drop but EBITDA up for Bwin.party’s H1

Bwin.party CEO Norbert Teufelberger has not ruled out recommended a takeover offer from GVC Holdings, but wants the firm to work on its bid. Until then, the board is continuing to support 888 Holdings’ original bid. He commented: “We have been working with GVC and their advisors to try and help them resolve certain key aspects of their proposal, something …

Read More »