Unibet Playing it Safe With Aquisitions
Unibet Group's board of directors revealed today that it has been in discussions with a number of parties regarding strategic acquisitions and that one or more of these acquisitions may be realized. In the meantime, the board has hired Öhman Fondkommission to explore the possibilities of raising a maximum capital of EU100 million in the bond market in line with the company's financial objectives.
PBL Split
Shareholders of Publishing and Broadcasting Ltd on Friday voted to approve the company's split into separate gaming and publishing arms. Under the plan PBL will house its casino and international gaming assets in a company called "Crown," while its publishing assets will go into a company called "Consolidated Media Holdings."
Party CEO Options More Shares
PartyGaming announced today that CEO Mitch Garber has taken options for 3.5 million additional shares in the company and reversed plans to sell a large portion of stock. Garber now holds 8.75 million shares in the firm, more than double the amount he is required to hold by contract. PartyGaming shares remained unchanged on the LSE today, opening and closing at 25.25p.
Marginbet Trades Gaming for Gold
After what was deemed a disappointing A$2 million IPO just two months ago, trading in Aussie sports betting group Marginbet was suspended Wednesday on the ASX. Shares were listed on Sept. 19 at A$0.20 and on their last trade Tuesday were valued at A$0.07. The company announced today that shares would remain suspended pending a conditional "farm in" agreement with Cazaly Resources Limited through which Marginbet would abandon the online gaming industry for the gold mining industry. The agreement would grant Marginbet the right to pay Cazaly a percentage of the drilling costs in exchange for a working interest in a gold mine in New Zealand. The proposed agreement calls for Marginbet to pay Cazaly a $25,000 deposit by Dec. 6, 2007.
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IAS Interest
Australian sports book operator International All Sports Ltd. says it is fielding acquisition inquiries from local and international gaming companies. "Recently, the board has received several preliminary expressions of interest to acquire the shares or the assets of the company," IAS Chairman Barry Coulter said in a written statement issued Tuesday. He added that the board has established a sale committee that includes "key external advisers."
GigaMedia Strong in Asia
Taiwan-based software provider GigaMedia's third-quarter results reveal a 76 percent increase in profits to $43 million--a result of continued growth from Everest Poker and online games in Asia. Revenues from Everest grew to $22 million, an increase of 163 percent over Q3 2006, while revenues from the company's Asian online games platforms FunTown and T2CN climbed 122 percent to $10 million.