MGS to Acquire Bowman Holdings -- U.K.-based Mobile Gaming Solutions has agreed to acquire Bowman Holdings, which provides online poker and bookmaking services to the European, Asian and South American markets. Financial terms of the deal were not disclosed.
South African Regulatory Discord -- A contingent of South African MPs is reportedly challenging legislation that will provide a regulatory scheme for I-gaming in the country. MP Ben Turok, a member of the African National Congress (ANC), the country's governing party, has accused South Africa's Department of Trade and Industry (DTI) of crafting legislation that is "insufficiently critical of gambling as an activity"--moreover, that it allowed for the advertisement of an "evil activity." According to South African press reports, Turok's remarks have gained momentum among other MPs, who, with Turok, are soliciting the government to abandon its plans to regulate the industry. (To reacquaint yourself with the rather labyrinthine regulatory goings-on in South Africa, click here.)
Crypto Avoids the Worst of the US Mess -- According to the Financial Times, CryptoLogic, despite the marked decline (46.5 percent) in quarterly revenue, still managed to avoid "the worst of the industry's pain in abandoning the U.S. market because of a long-held preference for Europe," which accounts for 95 percent of its revenues. The paper also said that Crypto CEO Javaid Aziz is planning to spend the majority of the company's $92 million net cash on Asian acquisitions over the next year.
Betfred Mulls £600 Million Flotation -- The Times reports that Betfred, the United Kingdom's fourth-largest bookmaker, has hired NM Rothschild to advise it on a possible £600 million float. The company, founded in 1967, has undergone rapid expansion in recent years, the paper says, acquiring betting shops at the rate of 75 per year as well as launching its I-gaming offering five years ago. Betfred, which currently owns 700 shops, could use an IPO to "step up the pace of expansion, with the aim of passing 1,000 shops over the next four to five years." The company is also planning a move to follow rivals William Hill and Ladbrokes into Spain.
PKR Deal a Boon for Playtech -- The Times also reported Saturday that, following news of Playtech's deal with PKR, Numis analyst Richard Carter said the deal could add up to $2 million a year in earnings. Carter subsequently gave a "buy" recommendation to shares in Playtech, which, today, were up 19.25p to 324.
Stock Watch -- On the LSE, William Hill was up 12.50p to 615, Sportswinbet was down 27.50p to 35 and Sportingbet was up 1p to 42.