Bwin Party Digital Entertainment, the online gambling giant, has confirmed recent rumours that it was involved in negotiations with at least two companies as potential buyers of the group.

Playtech, the online gaming and sports betting software supplier is believed to be one of the companies that are in the running.

Several leading online casinos that include Bet365 Casino, Slots Heaven Casino, Casino.com and Winner Casino are powered with software from Playtech.

Ever since take over talks was confirmed by Bwin Party its share prices have soared despite the fact that the group has clarified that the discussions could possibly lead to no offer being made for the company.

Meanwhile, market analysts admit that until an official announcement is made by Playtech or Amaya, which is the other company in the running for a takeover, any takeover talks is only based on speculation.

Bwin Party has, meanwhile, issued a statement saying that the Board of Bwin Party has entered into preliminary discussions with several interested parties with regard to a variety of potential business combinations in order to create additional value for Bwin Party shareholders. The statement also read that all discussions remain at a preliminary stage and that there can therefore be no certainty as to whether or not it will result in any form of transaction.

London listed Playtech is believed to have raised a “$315 million war chest” in order to fund the move.