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GVC and Bwin.Party deal complete

bwin.party gambling industry gaming industry gvc

2016-08-26 13:10:37

August 26th, 2016

GVC has completed its purchase of Bwin.party. The online casino site will no longer trade shares under their own brand, but will be fully incorporated into GVC.

This week, Bwin.party announced it has suspended trading shares at the London Stock Exchange. This decision comes in light of GVC’s acquisition of the company.

GVC beat off competition from Gibraltar-based 888 Holdings, which showed immense interest in buying Bwin.party, and had been engaged in talks with the casino game provider.

In July, 888 Holdings and Bwin.party had settled for a sum of approximately £898.3m, which would have seen the company take full ownership of Bwin.party. This sum, however, was shortly thereafter outbid by GVC.