London Financial stock brokerage and corporate advisor Numis Securities issued a statement suggesting that underperforming igaming operator bwin.party, should look to sell corporate assets in a view to raise its market value.
The corporate advisor, noted that the operator could potentially sell igaming assets and services at twice the current market capitalization. The statement made by Numis Securities saw shares in the operator gain 2.85% on Friday trading.
The Numis statement read “It is hard to carry on trusting that good fortune is going to turn bwin.party around, The alternative would be to crystallize value by selling off some of the Group’s assets.”
Numis have highlighted several business assets that the operator could sell-off, these include bwin.party non-regulated market divisions such as Italy, France and Spain. Other assets suggested included the operators under performing online bingo division and its payment processing arm – Kalixa.
Last week bwin.party senior management issued a statement that it would review its corporate and board strategy, with a firm view to increasing shareholder value. Senior management in the online gaming operator have come under fire from continued under performance since the merger of Party Gaming and Bwin sports in March 2011
