Tag: GVC
PartyPoker Nevada Return Likely
A PartyPoker Nevada return looks to be in the cards as their parent company, GVC Holdings, received the state gaming commissioners approval on their license application today The online gaming portion of GVC’s application hints at the fact that the gambling giant could be gearing up to introduce its PartyPoker brand to the Silver State’s regulated market. PartyPoker was forced to leave the United States back in 2006 when the Unlawful Internet Gambling Enforcement Act was passed. However, a romance for PartyPoker Nevada will most likely not be a smooth ride. WSOP’s online poker site has cemented itself in the…
GVC’s €900 Million Bid for bwin.party
bwin party has confirmed reception of GVC’s acquisition offer this morning, the latter also stated it had approached bwin party with an offer at 110p per share, valuing the business at around €900m (€1.3bn/$1.4bn). bwin party’s announcement confirms media reports published earlier in the week, both groups said they would now work together to secure “acceptance of its (the) proposal and, in turn, making an offer to bwin.party shareholders”. GVC submitted the offer in partnership with Amaya Gaming, which it earlier confirmed it had been working with in order to complete a reverse takeover of bwin.party, although rival operator 888 is also said to…
Brittish GVC doubled profits after acquiring Sportingbet
Reuters – GVC is looking at further acquisitions after turning around the Sportingbet businesses it acquired last year, the online gambling company said on Wednesday. GVC, one of the smaller players in the sector and listed on the AIM stock market, said operating profit more than doubled to 38.3 million euros ($52.8 million) in 2013, boosted by moving Sportingbet into the black. “We are now ready for the next stage in our corporate development and further geographic expansion through organic growth and acquisitions,” Chief Executive Kenneth Alexander said. However, GVC cautioned that any deal would not be at the expense…