888 buys Bwin.Party

[david3103]

Paid $10,000,000 more than they would have wanted to from the look of it.

http://uk.pokernews.com/news/2015/07/888-holdings-purchases-bwin-party-for-898-million-18513.htm?utm_source=iContact&utm_medium=email&utm_campaign=PokerNews&utm_content=

[Karabiner]

Does that mean partypoker and 888 cardrooms will become one?

[arbboy]

I can't believe bwin/party combined is worth the same as Skybet.  Incredible.

[OHCARRION]

888 and Party have focused way more on poker for all these years. Skybet is ran by a huge corporation who basically advertise during all major sporting events for free.

[SuuPRlim]

That is a huge amount of money

[tikay]

That is a huge amount of money

Why do you say that, Dave?

[Rexas]

That is a huge amount of money

Why do you say that, Dave?

Anyone else think Tikay's comment feels like a brag?

[AndrewT]

Paid $10,000,000 more than they would have wanted to from the look of it.

http://uk.pokernews.com/news/2015/07/888-holdings-purchases-bwin-party-for-898-million-18513.htm?utm_source=iContact&utm_medium=email&utm_campaign=PokerNews&utm_content=

I've only just got this.

[vegaslover]

Paid $10,000,000 more than they would have wanted to from the look of it.

http://uk.pokernews.com/news/2015/07/888-holdings-purchases-bwin-party-for-898-million-18513.htm?utm_source=iContact&utm_medium=email&utm_campaign=PokerNews&utm_content=

I've only just got this.

Haha, as I had already seen the story of the buyout, I didn't even realise until you posted this 

[tikay]

888 and Party have focused way more on poker for all these years. Skybet is ran by a huge corporation who basically advertise during all major sporting events for free.

In all cases, the value of the poker site is very small compared to the overall value of the site. Sports Betting & House Games dominate Online Gaming these days. The value of 888 & PP's poker sites is very small in isolation, though they contribute to the value due to cross-sell.

SB&G have always had to pay for their advertising, they certainly don't get it free.   

[UgotNuts]

888 and Party have focused way more on poker for all these years. Skybet is ran by a huge corporation who basically advertise during all major sporting events for free.

In all cases, the value of the poker site is very small compared to the overall value of the site. Sports Betting & House Games dominate Online Gaming these days. The value of 888 & PP's poker sites is very small in isolation, though they contribute to the value due to cross-sell.

SB&G have always had to pay for their advertising, they certainly don't get it free.   

Do they pay a sister company who ultimately sit under the same holding company?

[tikay]

888 and Party have focused way more on poker for all these years. Skybet is ran by a huge corporation who basically advertise during all major sporting events for free.

In all cases, the value of the poker site is very small compared to the overall value of the site. Sports Betting & House Games dominate Online Gaming these days. The value of 888 & PP's poker sites is very small in isolation, though they contribute to the value due to cross-sell.

SB&G have always had to pay for their advertising, they certainly don't get it free.   

Do they pay a sister company who ultimately sit under the same holding company?

No. They are owned by CVC Capital Partners these days.

[arbboy]

That is a huge amount of money

Why do you say that, Dave?

Are you surprised how little bwin is worth Tikay given how big a brand they are across main land Europe (massive shirt deals with Madrid/Milan etc) over the past 10 years?  I am truely amazed that they are worth no more than skybet who operate online only in the uk.

[tikay]

That is a huge amount of money

Why do you say that, Dave?

Are you surprised how little bwin is worth Tikay given how big a brand they are across main land Europe (massive shirt deals with Madrid/Milan etc) over the past 10 years?  I am truely amazed that they are worth no more than skybet who operate online only in the uk.

No, from my knowledge of them, it seemed in the right ball park.

I think Dave was perhaps suggesting it was too much.

Part of the reason for the seemingly full price paid for SB&G is their phenonomal growth rate, which continues unabated.

[rfgqqabc]

I'm sure there is something I'm missing but didn't Party take the majority in the merger with bwin? It was late 2011 right? And Party don't have/didn't have much of a sportsbook right? Was there poker room really valued that highly?

Ok Bwin took 51.6%. Merger endorsed Jan 2011.