Could Google Really Be Looking at Buying Bwin.Party: Shares Up Nearly 6 Percent

Written by :

Aaron Goldstein

Published on :

13 September, 2013

Shares in Bwin.party rose 5.6 percent Friday following rumors that search engine giant Google could acquire the struggling online gambling firm.

Joseph Griffin’s This Is Money piece helped fuel speculation throughout the day Friday.

Rumours of a 200p a share cash offer from Google has been doing the rounds of late with dealers hearing that the US giant could pounce before Bwin’s online poker and casino games are up and running in the state of New Jersey before the end of the year.

Morgan Stanley reinstated Bwin.party’s stock to “equal weight” on Friday.

They currently have a GBX 140 ($2.19) price target on the stock. Morgan Stanley’s target price indicates a potential upside of 27.39% from the stock’s previous close.

Analysts at Canaccord Genuity upgraded shares of Bwin.Party Digital Entertainment (LON:BPTY) from a “hold” rating to a “buy” rating on Tuesday.

Analysts at Citigroup Inc. cut their price target on shares of Bwin.Party Digital Entertainment (LON:BPTY) from GBX 130 ($2.03) to GBX 120 ($1.88) in a research note to investors on Tuesday, September 3rd. They now have a “neutral” rating on the stock.

- Aaron Goldstein, Gambling911.com

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