SportingBet and Bwin get together
There's so many mergers going on in the world of betting that it feels like we're headed toward a world where one gigantic betting shop owns absolutely everything. First, Ladbrokes and Coral got in bed together, then Betfair and Paddy Power became a tag-team, and now, the owner of Sportingbet is getting all over Bwin.Party, after agreeing terms on a £1.1bn offer.
The deal was announced by GVC, and puts an end to the long bidding battle for Bwin, which put itself on the market which included 888 Holdings.
GVC were actually prepared to launch a hostile bid, which is like a normal bid, only wearing knuckle-duster and swears a lot, where they were going to go directly at the shareholders with an offer without actually working an official deal out first.
This is the kind of thing that makes men in suits very, very excited.
Previously, Bwin had accepted a £900m pound cash and share offer from 888, and now, GVC got in there and now, it is all done and dusted. We're just waiting for all the betting companies to merge like Voltron now. Then we'll all die, presumably. We're sure someone will give us the odds for that happening...