GVC Could Be Latest Company Looking To Acquire Bwin.Party
The rumors surrounding the possible acquisition of Bwin.party continue to do the rounds. The latest round includes speculation that online gambling company GVC Holdings have their eyes on their rivals Bwin.party.
According to CEO Kenneth Alexander GVC is looking for something that could transform the company, much like Sportingbet did for them in 2013.Sportingbet was acquired in 2013 and operates in over 24 countries providing everything from online poker casino games and sports betting on mobile. This acquisition now accounts for over half of GVC’s revenues.
GVC has had a good year with pretax profits over doubling in 2014 to $44.95 million and revenues spiked by 23 percent to reach €224.8m. Alexander declined to elaborate on a possible valuation for Bwin. On their side Bwin remained unclear and said in November they were in talks with a number of parties concerning a “variety of potential business combinations” that could end up in an offer being made for their company.