News

Amaya joins GVC in bidding for Partypoker owner to extend reach in online gaming

MONTREAL – Amaya Inc. (TSX:AYA) confirms it is backing a bid for the global online gaming company that operates Partypoker.

The Montreal-based company behind PokerStars says it’s partnering with GVC Holdings PLC in an effort to buy all the shares of Bwin.Party Digital Entertainment PLC.

Amaya said it didn’t intend to provide further details on any financing that it could provide or details on GVC’s proposal, unless there’s a binding legal agreement.

It added there’s no guarantee that discussions with Bwin.Party will result in a deal.

GVC announced on Friday that it had submitted a bid for Bwin.Party. That was followed by a rival offer on Monday from 888 Holdings PLC.

Amaya became a major player in the online gambling business when it acquired PokerStars last year for US$4.9 billion.

It announced last week that revenue for the three months ended March 31 was $340.1 million, up from $12.8 million a year earlier. Its net income was $13 million, down from about $39 million in the first quarter of 2014.