19th May 2015 06:39
LONDON (Alliance News) - AIM-listed GVC Holdings PLC early Tuesday confirmed its reverse takeover bid for FTSE 250-listed Bwin.Party Digital Entertainment PLC would be jointly financed by GVC and Canadian gaming and gambling company Amaya Inc.
Toronto-listed Amaya is the owner of the PokerStars, Full Tilt and the European Poker Tour gaming brands. It has a market capitalisation of CAD4.31 billion, GVC noted.
GVC and Amaya face a rival bid in the cash and shares proposal tabled by 888 Holdings PLC on Monday.
"There can be no certainty that the submission of this proposal will lead to the company's proposal being selected as a proposed acquirer of bwin.party or, in turn, completing an acquisition," GVC said Tuesday. "Further updates will be provided in due course."
By Tom Waite; [email protected]; @thomaslwaite
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