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Thursday, May 21, 2015

Bwin.Party expects conclusion to takeover talks in 'coming weeks', (TSE: AYA.TO)

Online gambling company Bwin.Party Digital Entertainment Plc, the subject of competing takeover bids, said it expects in coming weeks to "reach a conclusion" as discussions with suitors enter a new stage.Bwin's London-listed shares rose as much as 6 percent on Thursday after the company also reported better-than-expected margins for the first quarter, helped by careful cost management. Higher taxes and tougher regulations in Britain and other big European markets have taken a toll on gambling companies and raised the possibility of consolidation in the industry.Bwin, which put itself on the block last year, is at the centre of a takeover battle between at least two bidders: smaller peer 888 Holdings Plc and a partnership between GVC Holdings Plc and Canada's Amaya Inc.

Amaya Inc., formerly Amaya Gaming Group Inc., is a Canada-based technology company. Shares of AYA traded higher by 0.58% or $0.19/share to $32.81. In the past year, the shares have traded as low as $8.65 and as high as $37.87. On average, 609281 shares of AYA.TO exchange hands on a given day and today's volume is recorded at 188067.