Gtech Takes Majority Stake in St. Enodoc
Gtech, the U.S.-based subsidiary of Italy's Lottomatica, has agreed to take a 90 percent stake in St. Enodoc Holdings, parent company to St. Minver, the online operator. For the stake, Gtech will pay 28 million euros, or $43.8 million, cash, on closing. The deal is expected to be finalized this quarter. For the stake, Gtech will pay 28 million euros, or $43.8 million, cash, on closing. The deal is expected to be finalized this quarter. View the full story.
Austrian Lotteries Reports Boosted Profits
Austrian Lotteries, the state-licensed operator, has revealed a 4.5 percent rise in full-yearly net gaming revenues to 1.5 billion euros, or $2.36 billion. Sales at its Win2Day.at online division were up 4.7 percent to 808 million euros, or $1.27 billion, which accounted for approximately 39 percent of the group's corporate sales: 2.06 billion euros, or $3.23 billion.
Click here to view the full financial report. A transcribed discussion with the management board regarding the sole-licensee-versus-liberalized-market debate may be found on pages five through seven.
Betbull Full-Yearly Revenues Down
Betbull, the online and retail bookmaker, has revealed full-yearly net gaming revenues of 13.32 million euros, or $20.9 million, down 11 percent against the year-ago period. Losses after tax narrowed to 1.91 million euros, or $2.97 million, from 2.57 million euros, or $4.02 million, in 2006. Meanwhile, earnings before interest, taxes, depreciation and amortization rose to 300,000 euros, or $470,151, from losses of 910,000 euros, or $1.4 million, in 2006. The company said it is working to strengthen its Primebet software platform by adding casino and other games, and hopes to integrate its entire online services suite under one platform.
Genting Denies Rumors of Rank Group Bid
Following rumors Genting Berhad was to launch a $959 million bid for Rank Group, owner of Blue Square, the Malaysia-based investment group said Thursday that no bid is currently in the works. "We wish to inform that Genting Berhad has no intention to make any general offer for the shares of Rank Group contrary to the speculative news reports," the company said in a prepared statement. Shares in Rank, listed on the London Stock Exchange, shed more than 10 percent on the news. Shares were also hit by the resignation of Peter Gill, Rank's finance director, who spent nearly three years with the group. Mr. Gill, who Bloomberg reports oversaw a £1.2 billion, or $2.3 billion, restructuring of the company, will depart in June and be replaced Paddy Gallagher, chief financial officer of Quadriga Worldwide Ltd.
CryptoLogic to Invest up to $2.5 Million in Mahjong Time
CryptoLogic has agreed to invest up to $2.5 million in Mahjong Time, an online software supplier, for a significant minority stake. CryptoLogic said its $2.5-million investment is subject to certain performance thresholds and milestones. The deal is expected to close within 30 days.