Update: A step change in scale
The proposed acquisition of bwin.party will be a step change in scale for GVC in a consolidating online gambling market, diversifying it by product and geographically. Management already has a track record of success with Sportingbet (acquired in 2013), including resuming dividends earlier than originally expected. The prospectus sets out a clear plan to achieve the target €125m of synergies, not just through cost cutting, but also by bringing a more entrepreneurial culture to bwin.party’s operations.
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