Seeking Approval -- At its AGM today, bwin, the Austria-based operator, said it would seek shareholder approval for a capital increase of up to 16.3 million new shares, which could generate as much as 500 million euros ($672.9 million). According to a report carried by Boerse Express, the Austrian online news service, bwin will use the capital increase to finance the acquisition of London-listed operator Sportingbet. In its first quarter results, released May 15, bwin did not address the "very preliminary" takeover talks it initiated with Sportingbet in March.
NRL Will Bet Fair -- Betfair has announced a product fee and integrity agreement with the National Rugby League (NRL). Under the terms of the agreement, Befair will deliver to the NRL a share of its betting revenues from rugby-league events and give the NRL access to its betting records "to enable [the NRL] to more effectively protect the integrity of the sport." "Betfair has long held the view that the NRL deserves a share of the revenue we make from offering betting on their sport and that they should have full access to the betting records of our customers to ensure the integrity of the game is protected," said Andrew Twaits, director of corporate and business affairs, Betfair, Australia.
Exceptionally Favorable -- In a note to the LSE this morning, Paddy Power said that, in the twenty weeks to May 15, trading has started very well, backed by "exceptionally favorable" sporting results. The company said it expects operating profits to grow by 27 percent, to the tune of 58 million euros ($78 million) for the year, which exceeds current market forecasts by 8 percent. It also said it anticipates launching Paddypowertrader.com, an online financial spread betting business, during the summer.
Exceptionally Unfavorable -- A report issued by Arbuthnot Securities, the U.K.-based banking and brokerage firm, suggests shares in PartyGaming will continue their spiral downward. Arbuthnot said that prospects for the London-listed operator are more negative than positive, setting a target price of 15p. The report offered that, among other reasons, shares will suffer because "PartyGaming is at a disadvantage to poker operators taking U.S. bets, European marketing costs are structurally high and could increase, and European regulatory risk remains a threat to both operations and sentiment." The Times reported that dealers connected last Tuesday's decline in share value (-4.50p), a two-month low, to the Arbuthnot report.
Coming Soon -- Hebrew-language tabloid Yedioth Ahronoth reported Monday that DSNR, the Ra'anana-based e-commerce company, has announced plans to launch a new Internet gambling site. The paper said that, during the project's initial phase, the company will market online poker, with blackjack and roulette to be added later.
Published -- The Polish News Bulletin, an English-language news service, reports that Poland's Finance Ministry has published its amendment bill to the Gaming Act. According to local media sources, the Bulletin says, the Ministry wishes to sharpen regulations regarding illegal gaming and maintain the ban on Internet gambling.
Stock Watch -- On the LSE, PartyGaming was up 1p to 40.75, 888 is down 0.25p to 118.75 and Ladbrokes is down 2p to 414.25.