PANEL PLANNING
Surrounding match fixing suspicions,
Gerry Sutcliffe, United Kingdom's sports minister, said this week that the
Union of European Football Associations, or UEFA, is "keen" on the idea of a U.K. panel focused on betting and sports corruption,
The Independent reports.
Earlier this month The Telegraph said Mr. Sutcliffe would be appointing a panel made up of law enforcement agencies, sports governing bodies and legal advisors following the Football Association's match-fixing investigation.
Michel Platini, UEFA's president, called match-fixing a major hazard to football's integrity, according to The Independent.
REPORTING
Bingo.comLtd. said it improved its net loss by 37 percent quarter over quarter and 7 percent year over year -- reporting a loss of $243,974 in the first quarter.
The Malta-based online gambling operator reported total revenue decline of 1.4% to $1.3 million, and operating costs before interest, depreciation and amortization expenses fell to $712,288.
"We continue to focus on launching our products into new markets as well as expanding the features and games available to play on Bingo.com," said Tarrnie Williams, the company's chief executive, in the earnings statement.
"We believe that as we add new features, new languages, and new currencies, and the international currency markets become more settled, that our revenues will increase and profitability will be achieved."
NEW CHAIRMAN
Robert H. Stikeman, 62, is set to step down as CryptoLogic Ltd.'s chairman and will remain a non-executive director, the online gambling software developer announced on Friday.
He will be replaced after June 3 by David M.J. Gavagan, who has been a director since 2008.
Mr. Stikeman was named chairman of the board in May 2003 and has also been a director since 2002. He served as CryptoLogic's secretary since 1996, according to Forbes magazine.
"As CryptoLogic enters a new stage of its development, today's announcement reflects our continued commitment to the highest standards of corporate governance and to long-term value for our shareholders," Mr. Gavagan said in a company statement.
According to Reuters, Mr. Gavagan is a self-employed accountant and co-founded Hibernia Capital Partners in 1996, where he served as its senior partner for a decade.
In addition, CryptoLogic has proposed to appoint James Wallace, chairman of Scapa Group, as an independent non-executive director.