Lanir Stocks up on Party
Empire Online Limited (EOL), which recently announced the sale of its gaming Web sites to PartyGaming PLC, said last week that chief executive Noam Lanir has acquired 4 million ordinary shares in the company at an average price of 42.69 pence per share. Lanir now holds 101,116,837 ordinary shares in the company, representing approximately 32.4 percent. EOL said Lanir acquired the shares through his company, Groverton Management Ltd.
Tatt's Wins Board Approval, Acquires Talarius
Australian gaming company Tattersall's and Australia's Macquarie Bank in late November formed a joint venture called European Gaming and launched a £137.2 million bid for Talarius in the hopes of bidding for the next U.K. National Lottery license. On Dec. 29, the venture increased the offer by 10p per share to 280p per share, raising the value by £5.1 million to £142.3 million--reportedly enough to lock down the deal. Tattersall's said on Tuesday it had now secured "irrevocable undertakings" and a "non-legally binding letter of intent" from major shareholders, which would take consent to about 59.9 percent, compared to the 38.6 percent it secured in November.
The board of Talarius announced today that nearly 88 percent of shareholders approved the recommended acquisition by European Gaming. The takeover is expected to be finalized on Feb. 1, but is subject to satisfaction or waiver of conditions set out in the Scheme Document.
Tattersall's has said it would look at further consolidation opportunities in Britain once the Talarius deal is finalized.
Research Suspended
Toronto-based capital research firm Wellington West Capital Markets announced on Dec. 29 that it was suspending the publication of research of four Canadian Internet gaming companies, due to a shift in coverage focus. The company said in a prepared statement that effective immediately it would no longer provide estimates, recommendations or target prices for: Chartwell Technology Inc. (CWH-T), FUN Technologies Inc. (FUN-T), Las Vegas from Home.com Entertainment Inc. (LVH-V) or Parlay Entertainment Inc. (PEI-V).
Playtech and Party Come to Terms
PartyGaming on Tuesday announced a four-year agreement with I-gaming provider Playtech, calling for Playtech to power the Web sites Party recently acquired from Empire Online and Intercontinental Online. Playtech shares went up 1-1/2 p to 243-1/2 after signing the deal. Playtech said the four-year agreement enables online gaming Web sites currently operated by Empire and Intercontinental to remain exclusively on the Playtech platform. Financial details of the agreement were not disclosed.