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bwin.party Denies Rumored Sale of Company

  • Giovanni AngioniGiovanni Angioni
bwin

In response to some industry rumors that bwin.party digital entertainment plc. was evaluating the possible sale of part of the company, the group declared on Thursday that "there are no plans to break up or sell the company."

In a note published on the bwin.party corporate website, the company denied the speculations, and explained that although the new Chairman Philip Yea is trying to find possible ways to increase shareholder value, a sale of any division of the company is currently not being discussed.

"The Board of bwin.party has noted the recent speculation in the media regarding a possible break-up or sale of the company," the company said, referring to an article published by Bloomberg on Thursday morning.

"Since his appointment as Chairman last month, Philip Yea has been working with the executive management team on ways in which the Group can increase shareholder value, however we can confirm that there are no plans to break-up or sell the company."

Reached by PokerNews, Director of Corporate Communications at bwin.party digital entertainment John Shepherd confirmed what has been written in a statement published on the corporate website, and added that the rumors “certainly did not come from anyone from the company."

On Thursday morning, Bloomberg reported that the group was considering selling "some or all of the company" and quoted "two people with knowledge of the matter" as their sources.

According to Bloomberg's sources, bwin.party would have also hired specialists from Deutsche Bank AG to consider its options and give itself a two-month grace-period to come to a decision.

As the news broke, bwin.party shares at the London Stock Exchange rose 4.1 percent to 96.40 pence at 9:38 a.m.

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