bwin.party in advanced discussion with potential buyers

Having announced no corporate growth in its 2014 full year performance this Wednesday, bwin.party governance has revealed that it has received several offers from interested parties in buying its business divisions or all of the Company.

Non-Executive Chairman Philip Yea stated that the company was in advanced discussions with potential buyers, but neglected to give further insight on how many there were and what business assets the buyers were interested in.

Speaking to the Financial Times Yea Said

“We’re testing them against each other and against business as usual, these processes take whatever time they take”

Throughout 2014, bwin.party had been subject to speculation of a business asset ‘sell-off’ or a corporate acquisition. In November 2014 company governance confirmed that it had begun talks with interested parties.

A bwin.party corporate re-structure has seen the company re-focus on key products and markets, as the operator closed down non- essential business assets such as social gambling product WIN.

On Wednesday bwin.party governance stated that it would look to implement further cost saving measures, as the operator looks to recover its position and market share in the online gambling sector.

CEO Norbert Teufelberger wants the company to focus on optimising its mobile product channels and improving business efficiencies in products such as casino and bingo which saw steep declines in 2014

Speaking on upcoming challenges for bwin.party, Yea further stated

“We think the industry has good reasons to consolidate, But just because we’re ready to discuss it, it doesn’t mean everyone else is.”