UPDATE 1-Online gambling firm GVC could have another go at Bwin

Tue Jul 21, 2015 5:23am EDT
 
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(Adds analyst, company comments; share movement, background)

By Mamidipudi Soumithri

July 21 (Reuters) - Online gambling firm GVC Holdings Plc could make another attempt to buy peer Bwin.party Digital Entertainment, just days after Bwin accepted a 900 million pound ($1.4 billion)offer from 888 Holdings Plc .

GVC said on Tuesday it was considering its options regarding Bwin, but there was no certainty it would make a new offer.

It made a 110 pence per share offer for Bwin earlier in July along with Canada's Amaya Inc.

Bwin, which has been at the centre of a bidding war between GVC and 888, accepted a 104.09 pence a share bid on Friday from online casino and poker firm 888 after months of talks with the two sides.

Bwin said at the time that GVC's proposal had additional execution risks and the premium it offered was not enough for Bwin's board to recommend it.

Michael Campbell, analyst at Northland Capital Partners, said GVC was likely to come back with a larger offer, but added that it would have to be a minimum of 115-120 pence per share.

"For GVC to win that business, they're really going to have to come back with a quite a bit of a competitive bid, in my own view, and if it's south of 115, 120 I can't see shareholders voting in favour of a GVC deal," he said.   Continued...