Company News Reporter, London
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Aug 27, 2015

Betting company Bwin asks GVC for its best takeover offer

LONDON, Aug 27 (Reuters) – Online gambling company
Bwin.party has asked GVC Holdings to table its
best offer for the business after the duo addressed key concerns
over the suitor’s latest 1 billion pound ($1.55 billion)
approach.

GVC looked to have lost the race for Bwin after it accepted
a 900 million pound cash-and-stock offer from 888 in
July, but the Sportingbet owner has since returned with two
improved proposals to hijack the deal. Its latest was a 1.03
billion pound offer on Aug. 7.

Aug 26, 2015

Gambling firms Betfair and Paddy Power set for 5 billion pound tie up

DUBLIN/LONDON (Reuters) – Betfair (BETF.L: Quote, Profile, Research) and Irish rival Paddy Power (PLSA.I: Quote, Profile, Research) have agreed in principle on a 5 billion pound merger to stake a claim to leadership of the online gambling market in Britain.

Discussions were continuing to finalise an all-share merger but key terms have been agreed to create one of the world’s largest online betting and gaming groups with revenue of over 1.1 billion pounds, the companies said on Wednesday.

Aug 26, 2015

Gambling firms Betfair and Paddy Power set for $7.8 bln tie up

DUBLIN/LONDON, Aug 26 (Reuters) – Betfair and Irish
rival Paddy Power have agreed in principle on a 5
billion pound ($7.85 billion) merger to stake a claim to
leadership of the online gambling market in Britain.

Discussions were continuing to finalise an all-share merger
but key terms have been agreed to create one of the world’s
largest online betting and gaming groups with revenue of over
1.1 billion pounds, the companies said on Wednesday.

Aug 7, 2015

Gambling firm GVC raises offer to $1.6 billion for rival Bwin.party

LONDON (Reuters) – Online gambling firm GVC Holdings (GVC.L: Quote, Profile, Research, Stock Buzz) returned on Monday with a new 1 billion-pound ($1.55 billion) bid for rival Bwin.party Digital Entertainment (BPTY.L: Quote, Profile, Research, Stock Buzz), looking to trump a recently accepted offer from 888 (888.L: Quote, Profile, Research, Stock Buzz).

Bwin, put up for sale last year, accepted a cash and stock deal worth almost 900 million pounds from online casino and poker firm 888 this month, shunning an earlier 908-million-pound offer from GVC and Canada’s Amaya Inc (AYA.TO: Quote, Profile, Research, Stock Buzz), which it deemed too complex and with less attractive growth prospects.

Aug 7, 2015

Gambling firm GVC raises offer to $1.6 bln for rival Bwin.party (July 27)

LONDON, July 27 (Reuters) – Online gambling firm GVC
Holdings returned on Monday with a new 1 billion-pound
($1.55 billion) bid for rival Bwin.party Digital Entertainment
, looking to trump a recently accepted offer from 888
.

Bwin, put up for sale last year, accepted a cash and stock
deal worth almost 900 million pounds from online casino and
poker firm 888 this month, shunning an earlier 908-million-pound
offer from GVC and Canada’s Amaya Inc, which it deemed
too complex and with less attractive growth prospects.

Jul 28, 2015

Ofcom says Royal Mail price changes breach competition law

LONDON, July 28 (Reuters) – Britain’s postal regulator Ofcom
said Royal Mail has breached competition law by
proposing wholesale prices that were designed to be more
expensive for any firm looking to run a rival mail delivery
service.

The dispute is the latest in a line of headaches for Royal
Mail. Last month Ofcom announced it would also review the
regulation of Royal Mail, while it faces declining volumes in
its letters business and slower than expected growth in parcels.

Jul 27, 2015

Gambling firm GVC raises offer to $1.6 bln for rival Bwin.party

LONDON, July 27 (Reuters) – Online gambling firm GVC
Holdings returned on Monday with a new 1 billion-pound
($1.55 billion) bid for rival Bwin.party Digital Entertainment
, looking to trump a recently accepted offer from 888
.

Bwin, put up for sale last year, accepted a cash and stock
deal worth almost 900 million pounds from online casino and
poker firm 888 this month, shunning an earlier 908-million-pound
offer from GVC and Canada’s Amaya Inc, which it deemed
too complex and with less attractive growth prospects.

Jul 24, 2015

Ladbrokes and Gala Coral team up for online betting push

LONDON, July 24 (Reuters) – Bookmakers Ladbrokes and
Gala Coral sealed an all-share merger on Friday, creating a 2.3
billion pound ($3.4 billion) betting group that will seek to
build on its dominance of Britain’s high streets to expand its
online business.

The latest deal in the gambling sector comes only a week
after online betting company 888 agreed a 900 million
pound takeover of rival Bwin.party. Betting firms are
responding to higher tax bills in Britain and tighter regulation
of the industry by looking to bulk up.

Jul 21, 2015

Royal Mail’s pick up in parcels offset by fewer letters

LONDON, July 21 (Reuters) – British postal firm Royal Mail
reported flat quarterly revenue as an improvement in
parcels trading on the back of longer opening hours and a drive
to win business with retailers was wiped out by a sharp fall in
letter volumes.

Royal Mail’s prospects hinge on its ability to cut costs and
modernise its operations in order to win more of a parcels
market buoyed by a boom in online shopping.

Jul 17, 2015

Online gambling firm 888 wins 900 million pound battle for Bwin.party

LONDON (Reuters) – Online casino and poker firm 888 (888.L: Quote, Profile, Research) won the battle for larger rival Bwin.party Digital Entertainment (BPTY.L: Quote, Profile, Research) on Friday, clinching a cash and stock deal worth almost 900 million pounds ($1.4 billion).

888, which itself rejected a takeover by Britain’s biggest bookmaker William Hill (WMH.L: Quote, Profile, Research) in February, had been battling against a 908 million pound offer from GVC Holdings (GVC.L: Quote, Profile, Research) for Bwin, which put itself up for sale last year.

    • About Neil

      "I'm a company news reporter covering the retail and leisure sectors. Based in London I write on everything from the big retailers to fashion chains, hotels, drinks firms, pubs and coffee shops. I've previously covered the outsourcing sector and before that worked on Reuters sport for three years. You can follow me on Twitter @ReutersMaidment"
      Joined Reuters:
      2008
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