to read the full story.
Boss, NetEnt Shares Suspended in Sweden
Shares in Swedish gaming companies Boss Media and Net Entertainment on Wednesday were suspended on the Stockholm Stock Exchange Wednesday, prompting rumors of a takeover approach from one of the companies.
Boss later confirmed in a prepared statement that one of its major shareholders on Tuesday had been approached by an unknown buyer about acquiring all shares in the company. The company further indicated that the shareholder today declined the offer and immediately reported it to company management. Trading in both companies' shares resumed Thursday.
Crypto Shows Quarter-on-Quarter Revenue, Earnings Growth
CryptoLogic released third-quarter results Thursday, highlighting a 7.8 percent increase in revenue to $17.5 million against figures from the second quarter. Click here to read the full story.
Analysts Downgrade Ladbrokes, William Hill
Analysts for Morgan Stanley on Monday downgraded shares in Ladbrokes to underweight from equal-weight, William Hill, to equal-weight from overweight. "Growth at these bookmakers is "likely to disappoint," analysts wrote in a note to investors. Ladbrokes was down 8p, or 1.99 percent to 393.50 and William Hill was down 10p, or 1.66 percent to 591.50.
Betbrokers Generates £300,000 on Share Placing
Betbrokers has raised £300,000 via a share placing to further develop its data and online services. On Friday, the company announced plans to launch its online poker offering this week.
Sportech Generates £41.4 Million to fund Vernons Acquisition
Sportech said Wednesday that it plans to generate £41.4 million via a share placing to help fund the previously announced £51 million acquisition of Vernons. In mid October, Sportech was given the all-clear from the U.K. Competition Commission to proceed with the deal. "The acquisition of Vernons, our number one strategic target, and associated fund raising together with the agreement for distribution of pool games through Ladbrokes' retail estate represents another major step for our strategy of repositioning Sportech that commenced two years ago," said Sportech Chief Executive Ian Penrose.
Playtech Reports Record Quarter
Playtech's third-quarter report, released Thursday, revealed record revenues totaling $26.9 million, up 81 percent against $14.4 million generated during the previous-year period. Casino and poker revenues also evinced significant growth and were up 51 percent and 266 percent, respectively. The company commented that revenues for October were particularly strong, and that Asia-Pacific revenue is continuing to grow via the organic growth of its Asia-facing licensees. Playtech also said it "expects" to launch its Asian P2P network in the "coming few months." Europe continues to dominate the group's financial picture, producing 72 percent of its revenue, while the addition of Bet 365 to its poker network "boosted the network's already strong liquidity," it said. "We are delighted with this quarter's record-breaking figures, which clearly demonstrate the growing strength and presence of Playtech within the global gaming sector," said Playtech Chief Executive Mor Weizer. Shares in the company were up 18p, or 4.96 percent, to 381.00
Revenues Strong for Fluxx in Third Quarter
Germany-based Fluxx AG reported third-quarter revenues of 16.7 million euros, a 42 percent jump against figures from the previous year, though posted a pre-tax loss of 1.9 million euros. The company attributed the loss to start-up costs for its Spanish, German and U.K. interests as well as to "disproportionately high" legal and consultancy costs in connection with German regulatory developments. In mid October, the company announced an 11.35 million euro bid for horse betting specialist Sportwetten.de AG. Investor relations spokesman Stefan Hänel told IGN the bid was in line with its strategy as the company is more than 90 percent focused on horse betting. Fluxx currently holds a 25.4 percent stake in Sportwetten. Click here for Fluxx's nine-month report.