888 has said that it remains confident of its offer for rival online gaming operator bwin.party, stating that its bid is of “significantly greater intrinsic value” that the proposal put forward by GVC Holdings.
Playtech chairman Alan Jackson has revealed that the company was able to make “significant” progress during the six months through to June 30, after the firm posted widespread year-on-year growth across key financials.
GVC Holdings has said that it has made “significant progress” with its ongoing effort to acquire bwin.party, with the company expecting to submit an official proposal to the online gaming operator in the near future.
A $650 million (€585.7 million) equivalent covenant-lite leverage loan that will be used to finance 888’s proposed acquisition of rival online operator bwin.party has reportedly been put on hold until there is more clarity over the merger and acquisition process.
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Italian operator SNAI has revealed that it has entered into an agreement to finalise its previously announced merger with rival Cogemat, while also confirming Giorgio Sandi is to stand down as its chief executive and chairman.