Bwin.Party Again Forced To Deny Rumors Of Possible Sale
Online gaming company bwin.party is no stranger to controversy and is often a victim of the rumor mill. The strangest rumor was last year when there were reports surfacing that Google themselves might be interested in purchasing bwin.party before online gambling launched in November in New Jersey.
Bwin.Party’;s financial situation has con under fire in the last year. We have reported on their controversial pullout from 18 gray markets in an effort to focus on regulated markets. They also planned to focus heavily on the expanding U.S. Online market which is undergoing dramatic changes especially in the state of New Jersey.
Amaya’s acquisition of PokerStars is a major blow for bwin.party as it means that the online poker pie has just got a lot smaller with more people looking to get a piece.
With this background there are rumors floating around again that bwin.party is considering breaking up part of their business in order to help their shareholder value. The reports are that Deutsche Bank has been hired to explore the partial or complete sale of the company.
In a statement just released bwin.party have said that “there are no plans to break up or sell the company.” Bwin.party’s share price was up 4 percent after rising as high as 11 percent.
Of course Bwin.party’s reaction to the rumors sound exactly like those of Amaya Gaming when asked about the acquisition of PokerStars. There as well the share price has skyrocketed since the confirmation. With reputable publications like Bloomberg reporting on the possible sale, it is more than likely that where there is smoke there is fire. Anyone looking for a good bet should purchase bwin.party shares before trading is suspended.