Stodir h.f., the Icelandic investment company formerly known as FL Group h.f., yesterday filed for bankruptcy protection in a Reykjavík court, leaving the fate of its shareholding in Inspired Gaming Group uncertain.
One analyst told IGamingNews this morning that should Stodir's administrator decide to dump Inspired's shares, the impact could be harmful, but that at the right price, a future investor would be likely to step in.
According to Inspired's 2007 annual report, Stodir holds 18.9 percent of its ordinary share capital.
Stodir was also an active investor in Inspired's July placing of convertible preference shares, which, quoted as INGC.L, trade separately from Inspired's ordinary shares.
In December, Stodir's takeover talks with Inspired were dissolved after Stodir said it was unable to make a formal bid approach "as a result of the prevailing conditions in the financial markets."
AsianLogic Ltd., the land-based and online operator, has revealed revenue of $54.9 million, up 208 percent against the comparable period last year.
Revenue from casino and poker came in at $47.4 million and $2.6 million, up 184 percent and 760 percent, respectively.
The company, which trades on the London Stock Exchange, made a profit of $6 million.
More on these results to come.
Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.