The Swedish Merger -- Swedish poker operators 24hPoker and Epicure Venture on Tuesday signed a letter of intent, whereby the two companies will merge under one brand. The new company, which has yet to be named, will be responsible for the operation 24hPoker.com, Martinspoker.com and Staffpoker.com--all three of which will remain on the 24hNetwork. "We have seen major changes in the attitude of 24hNetwork in the past three to five months," said Martinspoker.com chief executive Claus Nielsen. "We feel that the vision of 24hNetwork to focus on the online gaming solution supplier market along with any plans of international expansion is something that we are certain will benefit our company's future."
GPT in Financial Trouble -- Global Payment Technologies (GPT) has released its third-quarter report, which shows a net loss of $1.61 million, or $0.26 per share, down from $1.89 million, or $0.30 per share, in the previous-year period. The company said that its gaming business generated 86 percent of its $3.10 million in sales for the quarter. It also noted that product development and testing had been behind increased operating expenses. "In order for GPT to compete effectively in the casino and vending markets, new products must be developed," said GPT chief executive William McMahon. The company currently carries $1.6 million in debt, which threatens operations as well as its relationship with creditor Laurus Master Fund. Its credit line with Laurus is set to expire this November. "We need to obtain new capital in order to continue the funding of the new product development costs and necessary capital expenditures." With regard to financial uncertainty, GPT joins Interactive Gaming Holdings, whose operation is currently at a standstill as it looks to secure funding via General Capital Venture Finance.
New from the UKGC -- The U.K. Gambling Commission has released its list of applicants for I-gaming licenses received prior to Aug. 16, 2007. Click here to view the list.
Dynasty Speaks -- Dynasty Gaming has issued a shareholder update addressing the marked decline in its share value--which the company chalks up to "the longer-than-anticipated timeframe to achieve current objectives." Contrary to a report carried by Gaming Intelligence Group Tuesday, Dynasty chief executive Albert Barbusci has said the company's relationship with "leading channel partners in China is better than ever," and that "virtually all North American companies have discovered that doing business in China is time intensive."
Labor Likes Dough -- The British media are reporting that the Labor Party, currently in arrears, has accepted £5 million in political donations, of which £150,000 was given by Bet365. Bet365 chief executive John Coates said the sum was given on behalf of his father, Peter, chairman and owner of the company, and was "not connected to his business." Coates also clarified that the donation was not made in connection with the Gambling Act, which, he said, did not contain "a lot of pluses" for the I-gaming industry. The Daily Telegraph observes: "[Prime Minister Gordon Brown] has left himself open to charges of hypocrisy after it emerged that Labor accepted a donation from an online gambling firm days before he killed off plans for a super casino."
Stock Watch -- On the LSE, 888 was up 8p to 115, Neteller was up 8.50p to 82.50 and Ladbrokes, continuing its steady gain this week, was up 6.50p to 402. In Vienna, bwin was up 0.20 euros to 17.80, and in Stockholm, Unibet was up SEK 1.50 to SEK 185.