Bwin.party confirms advanced talks with potential suitors
Online gaming operator bwin.party has confirmed that talks over the possibility of selling all or part of its business to potential suitors have entered an advanced stage.
Last month, iGaming Business reported that shares at the company had slumped after reports emerged of acquisition talks having broken down.
However, bwin.party chairman Philip Yea told reporters yesterday (Wednesday) that the group is currently considering several indicative proposals and that talks had advanced to a more serious stage.
“The board has entered into a further stage of discussions with each party with a view to assessing the relative attractions of these proposals,” Yea said, according to the Reuters news agency.
Although Yea nor bwin.party have named any of the parties taking part in the talks, reports in the media have suggested that Amaya Gaming, which last year acquired PokerStars and Full Tilt Poker from the Rational Group, is interested in a potential deal.
The confirmation of advanced talks comes after bwin.party yesterday posted a drop in earnings.
Full-year revenue for 2014 amounted to €611.9 million ($652 million), down 6% year-on-year, while clean earnings before interest, tax, depreciation and amortisation fell from €108 million to €101.2 million.