bloomberg.com Bwin.Party Online Casino Said to Weigh Possible Sale
By Christopher Palmeri Jun 26, 2014
Bwin.Party Digital Entertainment Plc, (BPTY) a pioneer of online gambling, is considering selling some or all of the company as part of a strategic review, two people with knowledge of the matter said.
The Gibraltar-based company, a partner in New Jersey’s new online betting market with Borgata Hotel Casino & Spa, hired Deutsche Bank AG (DBK) to consider its options, said the people, who requested anonymity because the matter isn’t public. The company will decide within two months, one person said. In a statement today, Bwin said it has no plans to break up or sell the company.
The discussions follow a share drop, a change in board leadership and a disappointing start to online betting in the U.S. A new threat emerged this month when PokerStars, the world’s dominant poker website, agreed to be sold in a deal that could hasten its re-entry to the fledgling U.S. market after an absence of several years.
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