The Independent is reporting that Bwin.party, the publicly traded holding company of Party Poker and the World Poker Tour is in play now due to its falling stock price. One of the active purported potential bidders is Steve Wynn's Wynn Resorts.
Bwin.party has existed in its current form only since March, when the merger between PartyGaming and Austria's Bwin was completed. Since the merger, the stock has slid considerably, accelerating in the pas few weeks, and now sitting 45% below it's merger price.
Vague speculation suggested that Wynn Resorts or William Hill could be a potential bidders. Wynn Resorts launched a short term partnership with PokerStars, only to see it disintegrate quickly in the wake of Black Friday's Department of Justice charges. Wynn could be looking to find a new partner to aggressively angle into a lead position in the newly regulated U.S. online poker market once U.S. legislates a new environment.
Just the possibility of a possible bid that could reach as high as 170p a share, was enough to push Bwin.party shares to 107.8p during trading before closing at 105.7p, a rise over the session of 1.7p.
Other industry insiders were more skeptical of a potential acquisition in the sector until there was further developments in the potential regulation of online gambling in the US.
Bwin.party has existed in its current form only since March, when the merger between PartyGaming and Austria's Bwin was completed. Since the merger, the stock has slid considerably, accelerating in the pas few weeks, and now sitting 45% below it's merger price.
Vague speculation suggested that Wynn Resorts or William Hill could be a potential bidders. Wynn Resorts launched a short term partnership with PokerStars, only to see it disintegrate quickly in the wake of Black Friday's Department of Justice charges. Wynn could be looking to find a new partner to aggressively angle into a lead position in the newly regulated U.S. online poker market once U.S. legislates a new environment.
Just the possibility of a possible bid that could reach as high as 170p a share, was enough to push Bwin.party shares to 107.8p during trading before closing at 105.7p, a rise over the session of 1.7p.
Other industry insiders were more skeptical of a potential acquisition in the sector until there was further developments in the potential regulation of online gambling in the US.
