New Concepts, Segments, Strategies for 888 in 2008
During a conference call with analysts and investors, 888 Chief Executive Gigi Levy said that the company has fulfilled all of its product endeavors and closed all of its product gaps. Levy added the company's strategy is going to consist of either tapping into new regions where it has fewer customers, or tapping into new segments of the I-gaming industry where it would like to be more present. Click here to view the full story.
Boss' Board OKs New GEMed Offer
GEMed, a jointly-owned subsidiary of Gtech and Swedish investment firm Medströms, has upped its bid for Boss Media. Boss' board, in turn, has recommended that company shareholders accept the offer. Click here to view the full story.
Boss: GEMed Takes 50 Percent in 48 Hours
After GEMed raised the stakes Wednesday in its bid to acquire Boss Media, the Swedish supplier's Chief Executive Michael Hallén said Thursday that GEMed has acquired roughly 50 percent of Boss' issued share capital -- in the last 48 hours. Click here to view the full story.
IPGL Takes 15.8 Percent Stake in Probability
AIM-listed mobile gambling services provider Probability received its newest investor Tuesday as Michael Spencer, chief executive of interdealer broker ICAP, took a 15.8 percent holding in the company. Click here to view the full story.
Cashcade: To Float or not to Float?
Cashcade Ltd., a company that bills itself as "the United Kingdom's leading gaming marketing company," is thinking about a public offering or sale. Owner of Getminted.com, FoxyBingo.com and Thinkbingo.com, the company also claims to be the second largest operator of bingo sites in the United Kingdom, behind only Gala. Click here to view the full story.
Ladbrokes Shares up on Fresh Takeover Rumors
Ladbrokes rose 2.4 percent in London trading Friday after a second straight day of hazy takeover rumors. The U.K.-based betting shop owner gained 7.75p to 329, fueling speculation that there may be a private suitor on the scene, according to several media reports. Click here to view the full story.
AsianLogic Secures Unspecified Stake in Asian Poker Tour
AsianLogic, the Asia-Pacific facing operator with close ties to Playtech, has entered into an agreement with Singapore-based Capital Events to "acquire" the Asian Poker Tour. AsianLogic did not specify the value of its new shareholding, but did say that under the terms of the deal, Capital Events will remain a "key strategic shareholder." Click here to view the full story.
Parlay M&A: Three is Company and Two None
Parlay Entertainment said Friday that it had received a third expression of interest in an ongoing bidding battle spanning the better part of a month. Click here to view the full story.
Big Q4 for Playtech
Playtech’s fourth-quarter results have exceeded management expectations, with revenues climbing 101 percent to $32.7 million compared to Q4 2006, the company said. Playtech’s KPIs revealed massive increases in revenues across the company’s casino and poker sectors. Full-year revenues totaled $103.6 million, an increase of 86 percent over 2006.
Unibet Delays Release of Q4, Full-Yearly Results
Unibet said that it would delay the announcement of its fourth-quarter and full-year results from Feb. 13 to Feb. 20 due to the increased complexity of the group following the December acquisition of Maria Holdings Ltd. The board wants the best assurance that the un-audited fourth-quarter announcement will not be subject to material changes in the annual report, the company said.
JP Cuts Rank Target Price
Brokerage JP Morgan has cut its target price for Rank Group from 125p to 115, while retaining its neutral rating on the shares. In a research note issued Tuesday, JP said it believes the likelihood of a takeover approach for Rank, possibly by Genting or Guoco, is increasing and has advised investors to buy below 90p and take profits above 110.
Betsson Sees Net Revenue up 121 Percent, Increases Dividend
Betsson has revealed a 121 percent increase in net revenue for 2007 to SEK 649 million. As a result, the company has announced that a dividend of SEK 5.00 per share will be distributed to shareholders, of which SEK 3.50 relates to the 2007 results, with a further SEK 1.50 bonus payment. Moreover, performance so far for 2008 is reported as strong, with January and February already proving to be more profitable than December 2007.
Svenska Spel Reports 9 Percent Increase in Full-Yearly Revenue
Svenska Spel has reported full-yearly revenue of SEK 5.25 billion, a 9.15 percent increase over 2006. The operator's Internet and telephone gaming division recorded a 38.3 percent increase in gaming revenue to SEK 1.18 billion for the period. Online poker revenue rose to SEK 385 million in 2007, an 87 percent increase over the last three quarters in 2006 following the launch of the site. Svenska Spel CEO Jesper Kärrbrink said the company wants to focus on promoting responsible gaming strategies in 2008.