Gambling firm GVC teams up with Canada's Amaya for Bwin.Party bid

Tue May 19, 2015 2:46am EDT
 
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May 19 (Reuters) - Online gambling company GVC Holdings Plc said its bid to buy bigger rival Bwin.Party Digital Entertainment Plc would jointly be financed by Canada's Amaya Inc.

There was no certainty on Tuesday that Bwin would accept the GVC bid, as a day earlier 888 Holdings Plc offered to buy Bwin, without disclosing the value of the bid.

Sources told Reuters on Monday that GVC's joint bid with Amaya, which owns online gambling sites PokerStars and Full Tilt Poker, would be valued at 1.5 billion euros ($1.69 billion) and would consist of cash and GVC shares ($1 = 0.8864 euros) (Reporting by Esha Vaish in Bengaluru; Editing by Gopakumar Warrier)