GVC’s BwinParty purchase is done – another is expected
The deal for GVC Holdings to acquire BwinParty has completed.
Online gaming group GVC had to beat off competition from 888 Holdings to buy the operator, and the purchase price is 25p in cash plus 0.231 new GVC shares per BwinParty share, amounting to an approximate value of £1.12bn, which was initially announced as being agreed in September.
888 had agreed a deal to buy BwinParty for approximately £898.3m, as was announced in July, but was usurped by GVC’s offer.
The finalising of the deal marks the latest acquisition for GVC.
Having started out with its German-facing brand Casino Club, GVC bought Brazilian operator Betboo for an initial consideration of $4m in 2009 before acquiring operator Sportingbet for 56.1p per share in 2013.
In an exclusive interview with Gambling Insider, Alexander revealed that GVC plans to make another acquisition in the short-term future.
He said: “It’s more realistic to look at this time next year. What markets? I don’t know. Probably more regulated markets, to be honest with you. We’ll possibly do something in the UK. But we certainly won’t stop at BwinParty, unless we do a bad job of it and then we won’t have any option but to stop.”
Alexander’s interview appears in the CEO Special within Issue 33 of Gambling Insider.
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