GVC back in for BwinParty

The proposal is worth an approximate £1bn, and follows a proposal worth 110p a share that was confirmed by GVC earlier this month.

It was later announced that the boards of BwinParty and fellow operator 888 Holdings had reached an agreement on the terms of a recommended offer for BwinParty of 104.09p a share, which was announced earlier this month.

GVC responded by saying that it was “considering the company’s options”, before the announcement of the new proposal, which would be financed by a combination of the issuance of new GVC shares to BwinParty shareholders and a €400m senior secured loan provided by affiliates of private investment firm Cerberus Capital Management.

GVC said that there can be no certainty that it will make an offer for BwinParty, and that if the transaction were to be completed, the GVC board believes it would achieve cost reductions exceeding €135m per annum.

It was first announced by GVC that it had submitted a proposal to acquire BwinParty in May, and it was confirmed in a later announcement that the proposal would be jointly financed by provider Amaya Gaming.

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David Cook

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David Cook served as an editor and writer for Gambling Insider from 2018 to 2020, where he played a central role in shaping the publication’s editorial direction. He oversaw the creation and implementation of the broader editorial strategy for Gambling Insider and its related publications, managing the production of 30 print magazines annually while also contributing to the management of GamblingInsider.com and a weekly digital newsletter.

During his tenure, David led the publication’s largest editorial team to date, guiding its expansion and ensuring consistent, high-quality output across all channels. He also hosted and helped launch the GI Huddle podcast, a project he was proud to bring from concept to reality.

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