London-listed online gaming operator GVC has set out its plans to restructure and reinvigorate the bwin.party business following today’s acceptance of its acquisition offer by the bwin.party board.

GVC expects to achieve savings of up to €125m per annum for the enlarged group by the end of 2017 against one-off costs of approximately €60m, 95 per cent of which will be incurred by the end of 2016. This, the company said, will enable it to resume dividend payments in 2017 following a pause in 2016.

GVC said its first step will be to migrate its sportsbook to the bwin platform as soon as practical following completion of the transaction, generating substantial cost savings in the form of lower technology costs, reduced staff costs and other associated efficiencies from the closure of GVC's platform.

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