BwinParty in new acquisition talks amid operating loss

Party confirmed today (Wednesday) that indicative offers had been made for the online operator from several groups that are interested in buying part or all of the company.

Confirmation of the talks came on the same day that BwinParty announced a €97.9m operating loss and a reduction in revenue of over €40m last year.

The Gibraltar-based operator did not comment on the names or specific number of groups that are interested in acquiring the company, but did reveal that it was in “further discussions” with potential buyers.

BwinParty non-executive chairman Philip Yea told the Financial Times: “We’re testing them against each other and against business as usual.

“These processes take whatever time they take.”

Meanwhile, BwinParty has cited “the full year impact of ISP blocking in Greece and further declines in poker, partially mitigated by the FIFA World Cup” as part of the reason for its yearly revenue decline, which fell to €611.9m for 2014 from €652.4m in 2013.