Earlier today, representatives of gambling operator bwin.party commented that several major companies have expressed interest in purchasing either part of it or the whole entity.
The gambling company was formed back in 2011 as a result of the merger between sports betting operator bwin and online poker company PartyGaming.
Philip Yea, the current non-executive chairman of bwin.party, shared with media that the company is in talks with interested parties, but refused to comment on how many they are and when the finalization of a deal might be expected.
Mr. Yea pointed out that he and his colleagues intend to first “test” all the companies that have expressed interest in acquiring a stake in bwin.party. He emphasized that such processes usually take a bit more time.
Back in November 2014, company officials pointed out that they were in preliminary discussions with several interested groups. Reportedly, Canadian gambling operator Amaya Gaming, which acquired popular poker platforms PokerStars and Full Tilt in July 2014, was among the companies that were keen on buying a stake in bwin.party.
It seems that UK-based bookmaker William Hill as well as gaming group GVC Holdings, headquartered on the Isle of Man, are also among the bidders.
In December 2014, bwin.party was pretty close to selling its social gaming platform Win, which was introduced back in 2012. No further information has been revealed since then.
Mr. Yea admitted that there were talks on the matter, but it seems that the interested parties have been delaying the actual purchase.
The information about the potential sale of the gambling operator comes as the company reported on its financial performance for the twelve-month period ended December 31, 2014. The company’s revenue dropped by €40.5 million to reach the sum of €611.9 million.
What is more its earnings before interest, taxes, depreciation, and amortization decreased for a third consecutive year. A 6% fall was posted in 2014 and the amount of €101.2 million was generated.
Norbert Teufelberger, CEO of bwin.party, shared that driving revenue from mobile applications is among the operator’s top-priorities. It accounted for 21% of the overall revenue in 2014. Company officials expect for the figure to grow to 50% by the end of the year.
According to analysts, bwin.party’s revenue will not change significantly in 2015, as no FIFA World Cup will be taking place. In addition to this, the company will have to cope with the Point of Consumption Tax introduced in the UK not long ago, as well as with a number of regulatory changes in Germany.
