SBC News Voice of the Sports Betting Industry
bwin.party Entertainment shareholders have formally approved the firm’s £1.1 billion acquisition by London AIM listed operator GVC Holdings (GVC).
Hosting a shareholder ‘extraordinary meeting’, bwin.party governance announced that 99.99% of its investors approved in favour of the reverse takeover by GVC.
GVC and bwin.party governance will now work together to officially complete the deal by Q1 2016 and begin the merger of corporate assets.
November saw the appointment of Shay Segev former Playtech Chief Strategy Officer, as new GVC Chief Operating Officer (COO). Segev will be charged with leading the operational integration of the new merged business between GVC and bwin.party.
Releasing a short statement bwin.party commented that despite this approval, the closing offer still remains subject to the satisfaction or waiver of the other conditions set out in the scheme document, such as the sanctioning of the scheme by the court.
