Bwin Acquisition Enters Bidding War

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Bwin.PartyThe acquisition of online gaming company Bwin.Party seems to have degenerated into a major bidding war.

One of the interested parties, GVC Holdings, confirmed that Amaya Gaming is involved in the latest round of bidding. Both GVC and 888 Holdings PLC are interested in the British online gaming company.

It became evident yesterday that a bid from GVC was in fact a joint offer which was co-financed by Amaya Gaming, the Canadian company which bought both PokerStars and Full Tilt Poker for 4.38 billion Euros last year.

A statement from GVC read, "As announced on May 15, 2015, GVC has submitted a proposal to acquire the entire issued and to be issued share capital of Bwin.Party."

GVC has had previous experience of joint acquisitions after the one in 2013 involving the English bookmaker William Hill, and their acquisition of Sportingbet for 43 million Euros.

Bwin.Party placed itself late last year in the market as a takeover candidate.

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