GGB is committed to providing updated news and analysis on our weekly news site, GGBNews.com.

Report: Bwin.party Online Casino Site May Be Sold

Tue, Jul 29, 2014

Report: Bwin.party Online Casino Site May Be Sold

Bwin.party digital entertainment Plc is considering selling some or all of the company as part of a strategic review, according to Bloomberg News.

Bloomberg cited two unidentified sources with knowledge of the company’s plans in the report.

Bwin then issued a press release denying the report and saying it had no plans to break up the company.

According to Bloomberg, the Gibraltar-based company has hired Deutsche Bank AG to consider its options. The company will decide within two months on what action it will take.

The report notes that the discussion at bwin.party follows a share drop, a change in board leadership and a disappointing start to online betting in the U.S.

Philip Yea was appointed bwin chairman in April, and the company has settled a proxy fight for board seats with SpringOwl Asset Management LLC, led by former casino analyst Jason Ader.

    Recent Feature Articles

  • The Real Source of Success

    Playtech is looking to repeat its European success to become a preeminent supplier for North America’s embryonic iGaming market

  • Skill or Luck?

    States continue to battle unregulated “skill games,” and gaming associations continue to seek their ban, as a few states begin to regulate and tax the slot-like games

  • Changing Boundaries

    Fee-to-trust rule changes and their implications for tribal gaming

  • Everything is Bigger in Texas

    Will the biennial gambling debate finally bear fruit in the Lone Star State?

  • Aristocrat Tops Diverse Field in EKG Slot Awards

    While Aristocrat again took the top award as best overall slot supplier in the fifth EKG Slot Awards, its former dominance of the individual awards yielded to a more diverse field of winners.