GVC to sell payments arm and sale of Foxy Bingo rumours continue

GVC has said that it will offload the online payments division it purchased as part of the acquisition of bwin.party for £1.1 billion.

Chief Executive of GVC Kenny Alexander said to the Telegraph recently that although Kalixa does most of its business with bwin.party it also has expanded to other online forms but GVC has already spoken to other payments companies in preliminary talks of a sale.

“We’ll probably look at maybe disposing of bits of that,” he said. “We’ve had very early discussions.”

Other interesting news from the interview was that GVC will start to look at new acquisitions within the online gaming industry quite soon once the bwin.party deal is fully completed.

Finally with rumours of GVC selling off another bwin.party asset of Foxy Bingo the Mr Alexander said those were unfounded and Foxy Bingo was “a cracking business”. However those rumours still continue with initial names mentioned being Simon Collins who owned Foxy Bingo before selling it to bwin.party for £95 million, however Simon Collins said that a deal to buy back Foxy Bingo was probably out of his range as GVC would want to make a substantial profit from the sale.

Other suitors would certainly be Gala Bingo and Mecca Bingo to help boost their own brands.