GVC says could go hostile if Bwin accepts 888's offer - Times

Sept 2 (Reuters) - Online gambling company GVC Holdings Plc (Other OTC: GMVHF - news) said it could go hostile in the 1-billion-pound ($1.5 billion) battle for Bwin.party Digital Entertainment if Bwin's board recommends a lower offer from 888 Holdings Plc , the Times newspaper reported.

GVC's board is "not prepared to walk away" from Bwin, the Times quoted GVC Chairman Lee Feldman as saying. (http://thetim.es/1hSLo2W)

"We don't see (going hostile) as necessary right now as we're offering a higher price and have a better operating track record. That said, we believe GVC should own this asset and we wouldn't exclude any strategy," Feldman told the Times.

888 Holdings stepped up the battle for Bwin on Tuesday by submitting a revised takeover proposal to fend off GVC.

Bwin, which has been up for sale since November, did not provide details of 888's new proposal but said it would evaluate it alongside with GVC's.

Bwin, which like smaller rivals 888 and GVC, offers casino, poker, bingo and sports betting, accepted a 900 million-pound ($1.4 billion) cash and share offer from 888 in July, preferring it to a higher but more complex offer from GVC.

GVC, owner of the Sportingbet brand, has since worked with Bwin to iron out a number of concerns and has made an improved offer, valuing the company at around 1.06 billion pounds.

Reuters could not immediately reach GVC, Bwin and 888 for comment outside regular business hours. ($1 = 0.6531 pounds) (Reporting by Parikshit Mishra in Bengaluru; Editing by Anupama Dwivedi)