Loan Secured -- Interactive Gaming Holdings (IGH), the London-listed operator, has secured a £600,000 ($1.2 million) credit facility with General Capital Venture Finance Ltd. (GCVF) to fund IGH's working capital requirements. The loan carries an interest rate of 1.25 percent per month, and is secured on the assets and monies of IGH. IGH has also issued share warrants giving GCVF the right to acquire 12,000,000 ordinary shares with an exercise option 2.5p per share. IGH chairman Thomas Taule said: "We're pleased to announce the completion of this fundraising. GCVF have shown real confidence in the company and we look forward to a lasting beneficial relationship with them."
Planned Acquisition -- Fluxx AG, the Germany-based operator, has announced plans to acquire a majority stake in Lotto Rheinland-Pfalz GmbH. Fluxx is competing with the government for the tender. "We are convinced that we will reach an agreement with the proprietors, because our offer is financially much more attractive that the one made by the state," said management board spokesman Rainer Jacken. During FY 2006, Lotto Rheinland generated revenues totaling 461 million euros ($620 million).
Inked -- bwin, the Austria-based operator, has reached an agreement with mobile provider Cellectivity, whereby Cellectivity will distribute a mobile version of PokerRoom.com to U.K.-based customers on the 3 and T-Mobile networks. Cellectivity chief executive Marcel Puyk said: By working with bwin, we will be able to provide mobile users with access to real online poker tables for the very first time. This is an incredibly exciting development in mobile gaming."
Going Ahead -- Sportech said it continues to pursue its proposed acquisition of rival Vernons, despite the U.K. Office of Fair Trading's decision to refer to merger to the Competition Commission. The commission is expected to issue its decision by Oct. 17, it said. It added that Ladbrokes, Vernons' parent company, has supported its decision to carry on with the deal.
Reporting -- PacificNet, the Asia-facing gaming company, has released first quarter results, which show a 38.9 percent revenue increase to $9.26 million from the same period last year. The company posed a net profit of $308,000, or $0.03 per basic share. "We are delighted to report our turnaround and first profitable quarter since our venture into the gaming technology business," said PacNet chief executive Tony Tong. "As we announced during the last two conference calls, we have initiated a rapid business transformation away from our low-margin telecom business and into the new high-margin gaming business."
Lost Lunch -- The Irish Independent reports that Ladbrokes ruined "many a speculator's lunch" by ruling out an immediate takeover by private equity firm Apax Partners.
Stock Watch -- On the LSE, CrytpoLogic was down 22.50p to 1,210, PartyGaming was down .50p to 43 and Playtech was up 1p to 383.