Bwin receives revised offer from 888 as bidding contest heats up

Bwin.Party Digital Entertainment has received a revised proposal from 888 Holdings, which it is evaluating along with the offer received from GVC Holdings and said it intends to consult with its shareholders in the coming days before making a decision.

“The board's unanimous recommendation of 888's offer, which was announced on 17 July 2015, remains unchanged by this announcement,” it said.

Bwin had accepted an offer of $900m from 888 Holdings and had said that GVC’s proposed £1.03bn, although higher, was a less attractive prospect.

Last Thursday, Bwin said that key aspects of GVC’s offer had been addressed to its satisfaction and invited the online gambling operator to formally table its best offer for the company.