Online gambling company GVC interested in "something like" Bwin

By Aastha Agnihotri

March 23 (Reuters) - Online gambling company GVC Holdings (Other OTC: GMVHF - news) Plc is in talks for potential acquisitions and "something like" rival Bwin.party would be of interest, Chief Executive Kenneth Alexander said.

Consolidation activity in the gambling industry has gathered steam as an increase in taxes and regulations in some of the biggest markets hurts companies.

GVC is looking at transactions that could transform the company "the same way Sportingbet did in 2013", Alexander told Reuters on Monday.

GVC, which is listed on London's AIM, acquired Sportingbet's operations in 24 countries for around 31 million pounds.

Sportingbet, a provider of sports betting, casinos, games and poker online and on mobile, now accounts for more than half of GVC's revenue.

Britain's biggest bookmaker William Hill (Other OTC: WIMHF - news) was in talks to buy online gambling company 888 Holdings, but the discussions broke down in February over price with a key stakeholder.

Bwin said in November that it was in early talks with a number of parties over a "variety of potential business combinations", which could result in an offer being made for the firm.

Alexander declined to comment on a possible valuation for Bwin.

GVC's pretax profit more than doubled to 41.3 million euros ($44.95 million) in 2014, while revenue jumped 23 percent to 224.8 million euros.

The Isle of Man-based company's shares were up 1.5 percent at 461.04 pence at 1521 GMT. ($1 = 0.92 euros) (Editing by Kirti Pandey)