After all the trials and tribulations of the past few years, the falling revenues and declining profit, the strategy u-turns, the departing players and the redundant managers, who would have thought that bwin.party would be the subject of a bidding war?
It was only in June last year, when bwin.party denied it was planning to sell. Just two months later chief executive Norbert Teufelberger accepted the inevitable and put the company up for sale. What had changed in such a short period of time? Amaya had bought PokerStars.
Amaya has been linked with a move on PokerStars’ once-close rival ever since. The speculation seemed to be based on little more than the supposition that Amaya is acquisitive and seemingly able to tap its investors for unlimited funds as and when it pleases.
Well, the supposition has proved to be prescient indeed.