The board of online gaming operator bwin.party – which is subject to competing takeover interest from both 888 and GVC Holdings - has issued a statement confirming that “key aspects” of GVC's proposal have been addressed to the board’s satisfaction.
The statement continued: “Bwin.party has now asked GVC to clarify, with respect to its proposal, the best terms on which GVC is prepared to make a formal offer to acquire all of the issued and to be issued shares in bwin.party.
“While there can be no certainty that an offer will be made by GVC for bwin.party, 888 Holdings has been informed of this development and, if appropriate, will be given due notice in the event that bwin.party proposes to recommend an offer from GVC.”
The statement concluded with notification that the bwin.party board expects to issue a further update on Tuesday, September 1.
