LNG Acquires IGW Software Assets
Online gambling operator Leisure & Gaming (LNG.L) has agreed to acquire key technology assets and software from Netherlands Antilles-based software developer IGW Software NV for US$4.9 million, subject to approval from IGW's parent company Global Entertainment Holdings/Equities, Inc (GAMM.OB). The assets to be acquired include both the current online software platform in use at LNG's VIP brand (including all hardware and hosting infrastructure) and the next generation platform for online gaming that is still under development. It is also anticipated that IGW's development team will join Leisure & Gaming, where they will work in collaboration with the existing software development team that came into the company when it acquired English Harbour.
LNG says that by taking ownership of both the software and hosting for its VIP brand and other business units it has strengthened its technology base and expects to realize savings from the in-house development and maintenance of its gaming platform.
Blackjack Tourney Software Co. Could Spin Off Z4P
Interactive gaming technology firm Zone4Play, Inc. (ZFPI.OB) says it is considering proposing the formation of a spin-off company to its shareholders. The new company would further develop and market Zone4Play's multiplayer blackjack tournament software. Zone4Play says its decision to proceed is dependent upon the results of a regulatory and tax analysis that has not yet been completed. If the transaction were to proceed, Zone4Play would incorporate the new business as an offshore company that would purchase the blackjack software from Zone4Play based on a valuation prepared by an independent economist. Zone4Play says it might also lend seed capital to the new company in the anticipated amount of approximately US$2 million.
PwC Report Estimates Global Gambling Revenue Growth to 2010
A new report from PricewaterhouseCoopers estimates that global gambling revenue will grow 8.8 percent annually from US$82.2 billion in 2005 to $125 billion in 2010. The report predicts that Macau will be the region to experience the fastest growth rate of 14 percent annually, which should give it $23 billion in annual revenue by 2010. The U.S. will remain the world's largest gambling market, and is expected to see a growth rate of$53.4 million, which would bring its annual revenue to 74.5 billion by 2010. PwC expects global revenue from Internet gambling to double from $5.1 billion in 2005 to $11.4 billion by 2010, but these figures do not take the U.S. market into consideration.
Stihima Drives OPAP's WC Betting Revenues
Greek newspaper Vima reports that after the first 46 of 64 World Cup matches, Greek gaming operator OPAP AS (OPAPF.PK)'s revenues from tournament games have reached EUR 230 million. The company reportedly expects to realize EUR 350 and 400 million for the entire tournament. Betting has surged well ahead of brokers' original forecasts of about EUR 200 million on the back of OPAP's new Stihima game.