GVC rebuffs interest in bwin.party assets

9 November 2015

GVC Holdings has turned down approaches for a number of assets owned by bwin.party, the online gaming operator it has agreed to acquire.

As reported by iGaming Business, GVC in September struck a deal to acquire the online gaming business despite having had a number of earlier offers rejected.

Although the agreement is yet to go through, with GVC expecting to finalise the deal by the end of the year, the firm has revealed to the Daily Telegraph newspaper that it has already received approaches from parties interested in a number of bwin.party assets.

The newspaper said GVC has been approached by various trade buyers over the Cashcade business as well as bwin.party’s bingo platform behind the Foxy Bingo brand.

Kenny Alexander, chief executive of GVC, said the firm has also been contacted by potential bidders for the operator’s Kalixa payments processing arm as well as the bwin.party US-facing businesses.

However, Alexander told the newspaper that talks had not progressed past the preliminary stages.

Alexander also noted his focus is in completing the bwin.party deal, integrating the operator into GVC and halting a revenue decline from which bwin.party is currently suffering.

Related article: Bwin.party board accepts GVC takeover bid, withdraws 888 recommendation