Bwin.party, the popular online poker and casino provider, may be taken over soon by an as-yet-unnamed company, according to a recent statement by the board of directors.
Following mounting speculation that the head honchos at bwin.party are in talks to sell at least part of their platform, a statement was issued to the London Stock Exchange on Wednesday.
Although the publicly traded company hasn’t name the suitor it’s holding preliminary talks with, some industry commentators have speculated that monster online gobbler-upper Amaya Gaming could be sizing up the company for a takeover.
According to a blog in London’sÂ Financial Times’, Amaya has valued the company at Â£1.19 billion ($2.98 billion). “We believe the bidder here is Amaya Gaming Group,” wrote FT reporter Paul Murphy.
If this speculation is true, it would bring three of the poker world’s oldest rivals, partypoker, PokerStars and Full Tilt, under the control of the same company. What this would mean for the trio of platforms, not to mention their players, is unclear at this point. However, it would certainly take the online poker community in an interesting new direction heading into 2015.
Although the Financial Times has thrown its weight of opinion behind Amaya Gaming, the London Evening Standard has an opposing view. According to its sources, Playtech could be the company that’s in talks with bwin.party. The online gaming giant recently announced that it was raising a â‚¬315 million ($494.8 million) “war chest” to help aid the acquisition of new “organic opportunities.”
Speculation surrounding the possible power shift at bwin could be brought to a close sooner rather than later. Amaya Gaming is due to publish its latest financial figures on November 14, which would suggest that the announcement of a major purchase would take place at any moment.
As yet, bwin.party has declined to comment on the issue, other than its statement to the London Stock Exchange, but after the news broke, the company’s share price did benefit from a 12.52 percent boost to 121.3p per share.
Bwin.party’s Statement to London Stock Exchange:
Further to recent media speculation regarding a possible bid for bwin.party, the Board of bwin.party confirms that it has entered into preliminary discussions with a number of interested parties regarding a variety of potential business combinations with a view to creating additional value for bwin.party shareholders.
Such discussions may or may not result in an offer being made for the Company. However, as all such discussions remain at a preliminary stage, there can be no certainty as to whether or not they will result in any form of transaction with any party.