GVC Threatens To Pullout Of Bwin.party Takeover Bid
The ongoing saga over the acquisition of bwin.party that started last November has become like a classic game of poker. The question as to whether bwin.party will choose 888 Holdings of GVC Holdings has resulted in psychological tactics and threats being the name of the game.
While it looked like 888 Holdings had the upper hand of late, GVC have remained in the game and anything can happen. In an interesting tactic GVC holdings is reportedly considering calling bwin.party’s bluff by threatening to pull out of the bidding war if bwin.party continues to lean towards accepting 888 Holdings offer.
The main winners from this bidding battle is of course bwin.party who are playing all interested parties against each other in order to get the highest price possible. While this is going in their favor at the moment they could be caught with their pants down should GVC Holdings call their bluff and pull out of the deal.
GVG said they will only increase their bid if 888 Holdings does the same but if the offer from 888 Holdings remains the same and still remains the recommended bidder they will consider pulling out.
Both 888 and Bwin will be releasing their half-year figures on Friday and will only add fuel to the fire. Many experts believe that GVC is stronger than 888 in the sport betting market but 888 has the advantage of being listed on the main stock market.
With the acquisition of bwin.party who is currently the fourth largest online betting operator, both 888 and GVC hope to take their respective companies right to the top players in the online gaming world.