(Adds analyst, company comments; share movement, background)
By Mamidipudi Soumithri
July 21 (Reuters) - Online gambling firm GVC Holdings Plc could make another attempt to buy peer Bwin.partyDigital Entertainment, just days after Bwin accepted a900 million pound ($1.4 billion)offer from 888 Holdings Plc.
GVC said on Tuesday it was considering its options regardingBwin, but there was no certainty it would make a newoffer.
It made a 110 pence per share offer for Bwin earlier in Julyalong with Canada's Amaya Inc.
Bwin, which has been at the centre of a bidding war betweenGVC and 888, accepted a 104.09 pence a share bid on Friday fromonline casino and poker firm 888 after months of talks with thetwo sides.
Bwin said at the time that GVC's proposal had additionalexecution risks and the premium it offered was not enough forBwin's board to recommend it.
Michael Campbell, analyst at Northland Capital Partners,said GVC was likely to come back with a larger offer, but addedthat it would have to be a minimum of 115-120 pence per share.
"For GVC to win that business, they're really going to haveto come back with a quite a bit of a competitive bid, in my ownview, and if it's south of 115, 120 I can't see shareholdersvoting in favour of a GVC deal," he said.
The online gaming industry has seen a flurry of M&A activityas firms expand in order to offset the impact of increasingtaxes and tighter regulation.
GVC's joint bid for Bwin, a company more than triple itssize, would have involved breaking up the firm into units thatcould then be separately absorbed by GVC and Amaya.
The Telegraph newspaper reported on Monday that GVC couldconsider making another approach for Bwin, this time on its own,to remove many of those concerns. [http://bit.ly/1I8Nn8i]
Campbell said he would be surprised if GVC could land thedeal without the backing of a company such as Amaya.
A GVC spokesman declined to comment on Tuesday about thepossibility of making a solo bid for Bwin, but added it was notruling in or out any options.
888 and Bwin were not available for comment, while Amaya wasunavailable to comment outside of normal business hours.
GVC shares were up 2.7 percent on the London Stock Exchangeon Tuesday morning. Shares in Bwin were flat, while 888's shareswere marginally down.
($1 = 0.6422 pounds) (Editing by Anupama Dwivedi and Mark Potter)
