Intention to Acquire -- Betbrokers, the independent betting brokerage group, has signed a letter of intent to acquire Las Vegas-based Winning Edge International, a sports information and tipping service, for $6.5 million. Betbrokers said it expects to fund the acquisition by issuing new shares to current Winning Edge shareholders. It added that the acquisition, which is expected to be completed in June, will allow it to provide detailed information on U.S. sports and offer longer trading hours.
Live on Sky -- WagerWorks, the online arm of International Game Technology, will release a selection of games--including slots--on the SkyVegas iDTV channel. The agreement sees Sky broaden its games offering and allows WagerWorks to target an interactive television-focused player-base. WagerWorks president Paul Matthews said: "WagerWorks is very excited about this collaboration with SkyBet which we believe will raise the bar on game play and production quality for a gaming interactive channel."
Reporting -- Redbet Holding AB, the Sweden-based online operator, released first quarter results, which show a 284 increase in revenue to 1.05 million euros ($1.4 million) against figures from Q1 2006. Net profits for the quarter totaled 29,300 euros ($39,372) compared to losses totaling 70,700 euros ($94,978) during the previous period. Geared toward improving earnings, the company said it continues to focus on the acquisition of gaming companies in Central and Eastern Europe.
De-Listing -- CYOP Systems International, the online casino software provider, said it expects to de-listed from the NASD OTC exchange, due to its inability to pay vendors. The company also announced the resignation of directors Jorge Andrade and Randy Peterson--"Andrade and Peterson did not resign as a result of any disagreement relating to our operations, policies or practices," CYOP said in a prepared statement to its shareholders. "A raft of issues has made the turnaround of CYOP extremely difficult to achieve," said chief executive Patrick Smyth. "These included the Unlawful Internet Gambling Enforcement Act of 2006, which hampered efforts to build new business, as well as costing the company clients."
Virtual Feds -- The Times carries a report on Second Life, an Internet-based three-dimensional virtual world inhabited by more than 6.6 million “residents” from around the globe. FBI agents have reportedly adopted virtual personas, or avatars, "to visit casinos run with Second Life as part of a crackdown on online gambling."
Stock Watch -- On the LSE, PartyGaming was up 1p to 43.50, Ladbrokes was down 5.50p to 408 and William Hill was down 4p to 637.50.