24 Aug 2015 05:16
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Don't have an account? Click here to register.GVC Holdings reports jump in annual revenue ahead of Bwin.party merger
Mon, 11th Jan 2016 15:42
(ShareCast News) - Gaming company GVC Holdings on Monday reported a 10.2% increase in 2015 net gaming revenue to €247.7m (£180.03m) ahead of its merger with Bwin.party.In a trading update for the year to 31 December, the group revealed annual results would be supported by a strong last quarter. Net gaming revenue rose 10% in the fourth quarter to €65.5m."This is an encouraging finish to the year for GVC, despite a significant hit from forex moves, and it follows the recent positive trading update from bwin.party, pointing to strong momentum for the group going into the acquisition, which is set to complete on 1 February," said Canaccord Genuity."We nudge up our forecast to reflect the stronger revenue run rate, raising our 2015 earnings before interest, tax, depreciation and amortisation forecast from €50.8m to €52.0m, driving a 3% earnings per share (EPS) upgrade from 68.7c to 70.6c. For 2016, we nudge up EPS by 1%."AIM-listed GVC clinched a deal to buy bwin.party for £1.1bn in September, with the completion expected on 1 February."With the shareholders of both GVC and bwin.party digital entertainment plc ("bwin.party") having voted overwhelmingly for the acquisition of bwin.party on 15 December 2015 and with completion expected on 1 February 2016, and the enlarged GVC Group expected to be admitted to the Main Market on 2 February 2016, we are enthusiastic to commence the integration of the businesses and to continue to drive shareholder value for investors in the enlarged group," GVC chief executive Kenneth Alexander said in a statement.
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21 Aug 2015 14:59
20 Aug 2015 14:44
CORRECTED-GVC ready to increase offer for Bwin to about 1.1 bln pounds - Times
(Corrects paragraph 4 to say that Bwin's board will meet on Friday, not Thursday) Aug 20 (Reuters) - British online gambling company GVC Holdings Plc is ready to increase its offer for rival Bwin.party Digital Entertainment Plc to at least 130 pence per share or about 1.1 billion pounds ($1
Read more20 Aug 2015 12:29
TIMELINE-Battle for Bwin: GVC, 888 wage a bidding war
Aug 20 (Reuters) - Gambling company Bwin.party Digital Entertainment Plc, which put itself up for sale, has become the subject of a bidding war. GVC Holdings Plc, whose offer for the company was turned down in favour of one from rival 888 Holdings Plc , has twice come back with higher offer
Read more20 Aug 2015 11:59
UPDATE 1-GVC may raise offer for Bwin.party again - source
(Changes sourcing, adds share movement and background) By Mamidipudi Soumithri and Shivam Srivastava Aug 20 (Reuters) - British online gambling company GVC Holdings Plc may increase its offer for rival Bwin.party Digital Entertainment Plc for a third time, a source close to GVC said
Read more20 Aug 2015 11:07
GVC may raise offer for Bwin.party again - source
Aug 20 (Reuters) - Online gambling firm GVC Holdings Plc may increase its offer for larger peer Bwin.party Digital Entertainment Plc, a source close to GVC said on Thursday. The Times reported earlier that GVC was prepared to raise its offer for Bwin in its battle with 888 Holdings Plc fo
Read more20 Aug 2015 07:45
GVC Holdings ready to up Bwin offer to 130p
(ShareCast News) - Online casino company GVC Holdings is working on an increased offer for larger rival Bwin.party as it looks to crush a competing bid from peer 888 Holdings. The GVC bid at 130p, up from its previous 124p, will value FTSE 250-listed Bwin at roughly £1.1bn, the Times reported. Havi
Read more20 Aug 2015 07:42
BUZZ-Bwin.Party: Shares up on tussle for takeover
** Shares in Bwin.Party rise as much as 2 pct after media reports suggest GVC Holdings is looking to increase its offer for co once again ** Stock off day's highs, last up 0.7 pct ** Bwin.Party, had earlier accepted 888 Holdings Plc's 900 million-pound offer, saying GVC's offer was to
Read more20 Aug 2015 07:16
London pre-open: stocks tipped to open flat after Fed minutes
(ShareCast News) - City sources predict the FTSE 100 will open two points higher than Wednesday's close of 6,403.45. European equities are set to open flat as traders wrestle to price in a dovish Federal Open Market Committee statement and further overnight declines in Asia, London Capital Group nig
Read more20 Aug 2015 05:45
19 Aug 2015 23:03
MEDIA-GVC ready to increase offer for Bwin to about 1.1 bln pounds - The Times
-- Source link: (http://thetim.es/1J5gf56) -- Note: Reuters has not verified this story and does not vouch for its accuracy
Read more18 Aug 2015 08:41
GVC reportedly faces multi-million dollar legal claim
(ShareCast News) - GVC Holdings is reportedly facing a multi-million dollar legal claim after a Canadian company accused it of reneging on a deal as a result of its involvement in the £1bn auction of Bwin.party. According to the Times, GVC is being sued by sports and entertainment consultancy 37 Ent
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