SBC News Activist investors could trigger Bwin.party break-up

Activist investors could trigger Bwin.party break-up

Activist investors SpringOwl Gibraltar Partners B have agreed in principle to acquire 6.1 per cent of Bwin.party’s share capital, fuelling rumours that the company is on the verge of being broken up to realise value for shareholders.

SpringOwl is buying the shares from Emerald Bay Limited and Stinson Ridge Limited, companies connected with Bwin.party founders Ruth Parasol DeLeon and Russell DeLeon and certain trusts which they have established.

As part of the transaction SpringOwl will also be assigned the right to appoint one director to the Bwin board as contemplated by the New Relationship Agreement entered into between Emerald, Stinson, Bwin and others on 20 July 2010.

Analyst Ivor Jones at Numis thinks the investment will trigger a restructuring to release ‘value from the component parts’. He explained that there was several aspects of the business that would be of use to individual companies, such as the US-facing business, the technology platform, operations in both low- and high-risk markets, payments business Kalixa, the sports media rights business and the social gambling business.

Check Also

SBC News Epoxy.ai & SeventySix Capital: is AI the key to true betting personalisation?

Epoxy.ai & SeventySix Capital: is AI the key to true betting personalisation?

This week, news broke that AI and machine learning software provider Epoxy.ai had secured a …

SBC News Bayes Esports: PAC Capital investment will drive the esports industry forward

Bayes Esports: PAC Capital investment will drive the esports industry forward

Bayes Esports has reached a new milestone, with the esports data provider’s latest fundraising round …

SBC News Delasport: sports betting through the ages – part II

Delasport: sports betting through the ages – part II

Welcome to the second part of Delasport’s deep dive into sports betting through the ages. …