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Bwin.party ends year on high ahead of takeover

Tue, 05th Jan 2016 07:16

(ShareCast News) - Bwin.party ended its financial year on a high, ahead of its final results and takeover by GVC Holdings.The FTSE 250 online gambling company, in a market update on Tuesday, said its fourth quarter net revenue was up 5% on the previous year, driven primarily by sports betting and casino games through mobile channels.Bwin.party said EU VAT, introduced in some of its main markets in a year ago, did have an impact on the company, and without it the growth in net revenue would have been 8%.The firm was also looking forward to a payment of approximately €10m through the sale of Visa Europe to Visa International. Bwin.party's subsidiary Kalixa Payments is a principal member of Visa Europe.Bwin.party is scheduled to be acquired by AIM-listed GVC Holdings on 1 February, after shareholders approved all recommended resolutions surrounding the deal at an extraordinary general meeting on 15 December 2015.The acquisition still required the approval of the courts in Gibraltar, pending which shares in the new GVC group were expected to be admitted to the London Stock Exchange at 0800 GMT on 2 February."Based upon recent trading performance, the forthcoming Euro Championship in 2016 and the full year benefit of cost savings already achieved in 20156, the board believes that the group's prospects are strong, and these will be enhanced yet further by the proposed combination with GVC Holdings", the board said in a statement.

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4 Sep 2015 10:50

TIMELINE-GVC trumps 888 in battle for Bwin

(Adds latest developments, edits) Sept 4 (Reuters) - Bwin.party ditched an agreed takeover deal with 888 on Friday in favour of a higher cash and share offer from GVC Holdings, creating a sports betting heavyweight in a sector being reshaped by consolidation. Following are some of the

4 Sep 2015 10:07

TOP NEWS SUMMARY: Bwin Places Its Bet On GVC Merger As 888 Deal Folds

4 Sep 2015 07:29

LONDON MARKET OPEN: Investors Cautious Ahead Of US Jobs Report

4 Sep 2015 07:20

Bwin admits investors split on its backing of GVC takeover

LONDON, Sept 4 (Reuters) - Online gambling firm Bwin.party , which on Friday accepted a 1.06 billion pound ($1.6 billion) takeover from GVC, said many of its investors had been split on whether to back the approach over a rival offer from 888. Bwin Chairman Philip Yea said it had talked wit

4 Sep 2015 07:17

LONDON BRIEFING: Bwin.Party Chooses GVC's Takeover Offer Over 888's

4 Sep 2015 07:13

GVC trumps 888 Holdings in battle for Bwin

(ShareCast News) - GVC Holdings has trumped rival 888 Holdings in the battle for online gambling group Bwin.Party Digital Entertainment. The Sportingbet owner said Bwin has agreed to its offer of 25p in cash and 0.231 new GVC shares, which values the company at around 129.64p per share or £1.12bn

4 Sep 2015 06:37

LONDON MARKET PRE-OPEN: Lower Open Expected Ahead Of US Jobs Report

4 Sep 2015 06:25

GVC says Bwin accepts its $1.62 bln offer over 888's

Sept 4 (Reuters) - Online gambling company GVC Holdings Plc said on Friday that Bwin.party Digital Entertainment Plc had accepted its 1.06-billion-pound ($1.62 billion) takeover offer. GVC's offer of 25 pence in cash and 0.231 new GVC shares works out to about 129.64 pence per Bwin share

4 Sep 2015 06:10

Bwin.Party Leaves 888 At Altar, Recommends GBP1.12 Billion GVC Deal (ALLISS)

4 Sep 2015 05:41

PRESS: GVC Set To Trump 888 In Bwin.Party Takeover Battle - Telegraph

4 Sep 2015 01:49

Bwin board now prefers GVC's buyout offer over 888's-the Telegraph

Sept 3 (Reuters) - Bwin.party Digital Entertainment's board, which had been backing a buyout offer from 888 Holdings, has switched preference to now favor a rival bid from GVC Holdings, the Telegraph reported. The chairman of GVC, Lee Feldman, said on Tuesday that GVC could go hostile if B

4 Sep 2015 00:03

MEDIA-Bwin board switches recommendation to GVC from 888- Telegraph

-- Source link: (http://bit.ly/1EDn6UG) -- Note: Reuters has not verified this story and does not vouch for its accuracy

3 Sep 2015 09:17

888 Launches Poker, Casino & Sport Brands In Romania & Denmark

2 Sep 2015 12:05

UPDATE 1-Online gambling firm GVC "not prepared to walk away" from Bwin

(Adds details from sources, background) By Aastha Agnihotri Sept 2 (Reuters) - Online gambling company GVC Holdings Plc could go hostile in the 1-billion-pound ($1.5 billion) battle for Bwin.party Digital Entertainment if Bwin's board recommends a lower offer from 888 Holdings Plc, t

2 Sep 2015 09:55

GVC would reportedly consider going hostile for Bwin

(ShareCast News) - GVC Holdings is reportedly considering going hostile in the £1bn battle for Bwin.Party Digital Entertainment if the company's board recommends a lower offer from 888 Holdings. The Times quoted GVC chairman Lee Feldman as saying that the board is "not prepared to walk away" from Bw

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