GVC Doesn't Rule Out Hostile Takeover of Bwin

This week betting firm GVC Holdings revealed that they have not ruled out going for a hostile takeover of Bwin.Party should the company accept rival firm 888's bid instead of theirs.

The revelation came from GVC Chairman Lee Feldman, who told a newspaper that while they don't see the need to go hostile as of right now given the strength of their bid for Bwin, which is in excess of 1 billion pounds, but if the company decides to accept the lower bid from 888, they could end up going the hostile takeover route.

Feldman was quoted in the interview as saying: "We don't see (going hostile) as necessary right now as we're offering a higher price and have a better-operating track record. That said, we believe GVC should own this asset and we wouldn't exclude any strategy."

This week it was revealed that Bwin still prefers the lower bid of 888, given their intrinsic value.

Casino Listings will update this story as more developments arise.

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