According to The BBC, Online gambling firm 888 said it buying Bwin.party Digital Entertainment in a cash and stock deal valued at £898m or $1.4 billion dollars.
Bwin.Party website is bwinparty.com and the company’s name was created long before the new gTLD’s
If you’re wondering, the new gTLD domain name Bwin.Party is owned by the company and is being forwarded to bwinparty.com.
The offer is 104.09 pence per share which is at a 1.2 percent premium to Bwin.party’s close on Thursday and consists of 39.45 pence in cash and 0.404 new 888 shares for each Bwin.party share.
According to the BBC the deal comes less than six months after 888 rejected a takeover bid from William Hill, for about £750m.
Party Gaming/Bwin renamed to Bwin.Party long before the extension ever existed.
http://www.egrmagazine.com/news/partygaming_and_bwin_to_rename
That’s one way to give the finger to a low valuation. If they think you’re only worth £750m in your entirety, then respond by annexing somebody else for £898m!
What a (stupid) name: Bwin.party Digital Entertainment
I’ve seen some provocative headlines Mike but dang lol.
Bwin.party is essentially a merged company itself. It used to be Betandwin AG with HQ in Austria and PartyPoker that got hit when the US closed down on online poker operators. Both then merged and bwin.party was created. 888 by the way is one of the very few operators that operates in the so called “grey markets” and accepts players even from China.