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Bwin Shares Fall 25% After Rumors of Takeover Fail

On Friday shares in online betting firm bwin.party fell by 25% on the London Stock Exchange after a rumor circulated that a planned buyout by a third party failed.

The large drop saw bwin's share price fall to as low as £78 before the price eventually recovered a bit to £83.55. Bwin has been the subject of takeover rumors since last year, and a company spokesman came out and discussed the matter in an effort to do damage control. The Spokesman said that industry regulations require bwin to release a statement if negotiations fail, and that no such negotiations have fallen through.

The company that is negotiating with Bwin has been a mystery for quite some time, but the rumored parties interested include Playtech, Amaya Gaming, and William Hill.

Casino Listings will update this story as more developments arise.

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