GOOGLE’S RUMOURED TAKEOVER OF BWIN.PARTY DISMISSED


Rumours that Google could be preparing a takeover bid for bwin.party have been dismissed by industry sources. A report on the Daily Mail website said that rumours of a 200 pence per share cash offer had been circulating lately, with “dealers hearing” that Google could submit its offer before bwin.party’s “online poker and casino games are up and running in the state of New Jersey before the end of the year”.

However, bwin.party refused to comment on the speculation while City sources pointed out that any potential cash offer of 200 pence per share had seemingly not had much effect on the gambling operator’s share price. Google was unavailable for comment.

The speculation emerged just two weeks after bwin.party warned that its full-year turnover could slump by up to 17 percent as it streamlines the business to focus on markets where it can generate better returns. In its interim results, the company revealed that its EBITDA fell by a third year-on- year to €60.7 million (US$80.3 million) while total revenue dropped by 16 percent from €410 million to €342.5 million in the six months to the end of June.
 
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