Home / Poker News September 2013 / The Poker Grapevine – Google Looking to Acquire Bwin.Party?
The Poker Grapevine – Google Looking to Acquire Bwin.Party?
Posted by: Mark Baldwing - Sun, 2013-09-15 07:35
The online gambling world is abuzz with rumors regarding Google’s interest in Bwin.Party. The rumors – which are indeed just that at this stage – were sparked by an article penned by reporter Geoff Foster, in which he discussed the current woes Bwin.Party stock is experiencing. As management is slowly but surely running out of options to right the ship among forecasted earnings slashes by various analysts, the company is looking at a 17% revenue drop as markets shrink and as it re-structures to focus on more lucrative markets.
The warning bell sounded by the various experts has triggered a bit of a panic as shares dropped below 100p and that obviously raised a few eyebrows in financial circles here and there. It has also launched an extremely interesting rumor, according to which search giant Google may be interested in a 200p per share cash offer for the company, in order to finally break into legal
real money online poker and gambling, a move many have long anticipated on Google’s part.
There has been a lot of buzz around Bwin.Party lately, and even though most would say that Google’s move to acquire the company would be a peculiar one to say the least, there are several potential upsides to such a deal. Bwin.Party have recently re-branded their online poker operation and launched massively overhauled software which sports some extremely cutting-edge and attractive features. Perhaps even more importantly though, thanks to the fact that New Jersey governor Chris Christie has recently signed an online poker/gambling bill into law that would allow companies like PartyPoker – which had struck a deal with the DoJ and exited the US market years ago, in compliance with the requirements of the 2006 UIGEA – to yet again gain a foothold inside the US market, a possible Google acquisition effort may make sense after all.
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