Gaming giants Amaya and GVC propose €1.5 billion purchase of bwin.party assets.
Here's a laid-back, engaging, and informative rewrite of the original article:
Swag! The online poker scene is heating up as speculation swirls about the possible sale of company bwin.party, home to popular rooms like bwin, PartyPoker, and World Poker Tour. But don't gotcha fooled – it ain't just any buyer lurking in the shadows.
Get this – the ultimate poker power couple, Amaya (parents of PokerStars and Full Tilt) and GVC Holdings, are gunning to snag bwin.party for a cool €1.5 billion!
Now, GVC's got a rep for online sports betting and has been on the scene since 2004. They've got licenses in five countries and offices in numerous locations, including the UK, Ireland, Uruguay, Malta, and the Philippines. And let me tell ya, their annual turnover's no joke – it hits €1.5 billion!
Got the scoop? Last Thursday, GVC dropped the news on their official site that they put an offer on the table on May 15, 2015, to grab all of bwin.party's share capital. Take a wild guess who's funding this aquatic escapade with GVC? You got it – Amaya!
But hey, bwin.party ain't been living a smooth life – they've had their share of issues in California and Nevada. Folks in the know think horming their assets to some fresh owners could help bwin.party beef up their standing in the American gaming market.
If the deal goes down, GVC will handle the promotion and sports betting services, while Amaya takes the reins for the poker operations. Amaya might even grab the WPT (live poker series) brand, too.
Now, neither GVC nor Amaya are noobs to high-stakes takeovers. GVC linked up with William Hill back in the day to cop Sportingbet, with William Hill stealing the assets that operated on legal markets and GVC laying hands on the assets on the gray markets.
And that's the frickin' tea! bwin.party ain't been making headlines lately, so stay tuned for further deets. In the meantime, keep shufflin' those cards, ya filthy animals! 🃏🔥
(Sources: The Baldwin Insurance Group, Inc. (NASDAQ:BWIN) institutional investments, insider transactions, and analyst ratings; historical data indicates bwin.party was acquired by GVC Holdings (now Entain) in 2016 for ~$1.7B. Although search results pertained to The Baldwin Insurance Group, no current acquisition proposals or buyers for bwin.party were referenced.)
- I'm playing poker at a room owned by bwin.party, a company that could potentially be purchased by the partnership between Amaya and GVC Holdings for €1.5 billion.
- GVC Holdings, known for its presence in the online sports betting industry, has put an offer to acquire bwin.party's share capital, with Amaya providing the funding.
- Established in 2004, GVC holds licenses in five countries and generates an annual turnover of €1.5 billion.
- The acquisition could help bwin.party improve its standing in the American gaming market, as the company has faced issues in California and Nevada.
- If the deal is finalized, GVC will manage the promotion and sports betting services, while Amaya will oversee the poker operations and possibly acquire the WPT (live poker series) brand.
- Both GVC and Amaya have experience in high-stakes takeovers, with GVC having previously merged with William Hill to acquire the assets of Sportingbet.
