888 and Amaya make bids for bwin.party
As much as €1.5 billion is on the table for a potential merger between some of the biggest operators in the industry.
bwin.party was put up for sale last November and in the last few days has seen offers from both Amaya and 888 Holdings.
Last week it was revealed that 888 Holdings, worth £600 million, made a 'reverse takeover' offer to the £800 million valued bwin.party.
In a statement from 888 Holdings, the board believes there is a “significant industrial logic" to a partnership between the two operators.
Today it has been revealed that GVC Holdings has teamed up with Amaya, the parent group of PokerStars, to make a bid of €1.5 billion for bwin.party. The bid is made up of cash and GVC shares.
The plan would be for the poker side of bwin.party's business to be sold to Amaya for an 'agreed price', with the remainder of the business being run through GVC Holdings.
The share price for bwin.party has risen from 88p to 108p in the wake of these bids.
