GVC Holdings Plc. raised its offer to buy Bwin.party for the second time, hoping to take bwin’s attention away from a rival bid by 888 Holdings.

GVC made a fully-funded offer to bwin’s board on Friday, which values the company at about £1.3b ($1.6b). Under GVC’s latest cash-and-stock offer, bwin.party shareholders would be entitled to receive, for each bwin.party share, 25p in cash and 0.231 new GVC ordinary shares.

The proposal is based on GVC’s closing share price on August 6 of 435p per share.

“GVC is working closely with bwin.party and its advisers with a view to progressing the remaining open aspects of its Proposal to enable the bwin.party Board to make a full evaluation of the Proposal. GVC anticipates that this work should conclude within the next 5-10 business days,” said GVC in a statement.