Lottomatica's GTECH Acquisition Approved
The New York attorney general and state comptroller have approved Italy-based Lottomatica SpA's acquisition bid for U.S.-based gaming technologies company GTECH Holdings Corp., according to an announcement made Wednesday by GTECH. Lottomatica, the license holder for the Italian lottery, agreed in January to buy GTECH for roughly $4.8 billion, including the assumption of the company's debt. The acquisition was agreed upon under the condition that the New York Lottery and other major customers would keep their contracts with GTECH.
Floater
U.K. mobile gaming company Probability plc on Thursday began trading of its ordinary shares on the AIM. The company raised approximately £4.1 million before expenses through an Aug. 10, 2006 admission of its ordinary shares at a placing price of 76p per share. Evolution Securities is acting as nominated adviser and broker to the company.
Reporting
In its first results since floating on the AIM in March, I-gaming software group Playtech (PTEC.L) reported a 172 percent rise in first-half profit due to new contracts and rising poker revenues. The company said on Thursday that adjusted net profit leapt to $37.3 million in the six months to June 30 and revenues were up 139 percent to $46.2 million. Revenues from poker software shot up 851 percent to $4.8 million, while its main casino business grew 129 percent to $40.4 million. Playtech won seven new licensees in the half-year. Its software now powers the Web sites of 42 operators, which collectively run close to 140 gambling sites. The company said it would pay an interim dividend of $18.5 million, or 8.7 cents a share, on Oct. 6.
Playtech - Interim Results
In its first results since splitting from the Hilton hotels group in February, U.K. betting company Ladbrokes (LAD.L) reported record profits for the first half of 2006. Ladbrokes saw operating profits rise to £151.3 million in the six months to June 30, up from £134.7 million a year earlier. CEO Christopher Bell attributed the results to the World Cup and a growth in online gambling. The World Cup brought the company over 220,000 online and telephone customers and contributed to a gross win of £17.5 million. The company announced plans to expand into European and Asian markets, but halted plans to enter the United States due to the legal climate following the arrest of David Carruthers, former CEO of BetonSports. "In view of ongoing uncertainties within the U.S. legislative environment, the decision on whether to take business from U.S. customers on our gaming sites remains under review and we will update the market in due course," the company stated.
Ladbrokes - Interim Results