Who Will Get Bwin.Party?
888 Holdings and Amaya are bidding for the online gambling company that operates allegedly the biggest online sportsbooking section in Europe.
888 Holdings, the Gibraltar-based Online gaming company, is trying to buy Bwin.Party Digital Entertainment, also incorporated in Gibraltar, and gambling industry news stated that Amaya has also placed a bid. The number one publicly-traded internet gaming firm is planning to acquire and chop up Bwin.Party with the assistance of GVC Holdings. Playtech is reportedly also interested.
It seemed that Bwin.Party was back in business after SpringOwl Asset Management, owned by activict hedge fund manager Jason Ader, agreed a deal with the company last year. However, looking at the stage of the negotiations, the sale of the firm could easily happen in the near future.
A sportbooking giant
Bwin.Party was founded in 2011 after Bwin’s online sportsbook teamed up with the online casino and online poker service of PartyGaming. The latter left the US market in 2006, though it was the biggest internet gaming company in the world. Its large chunk in the internet betting market is considered as the real value of Bwin.Party, is rivalling in Europe with Bet365, the world’s biggest online sportsbook.
Amaya, 888 and Playtech all want to get into the online sportbooking market, and it would be an ideal solution for them to acquire Bwin. Online gambling business news report that Amaya is planning to hand a large chunk of Bwin.Party to GVC, a company that has experience operating in so-called gray markets.