Cerberus Capital backs GVC Holdings effort to outbid 888 Holdings for Bwin

GVC Holdings, an Isle of Man-based, AIM-listed online gaming company, confirmed on Monday that it is teaming up with Cerberus Capital Management to raise its offer for another online betting entity, Bwin.party Digital Entertainment, after that company accepted a rival bid. GVC, which owns Sportingbet, initially lost out last week to rival 888 Holdings in its efforts to …