Nambling Notes - 26 April 2007

26 April 2007

Taking Bets -- Gaming Intelligence Group reports that Yahoo has partnered with St. Minver and Boss Media's International Poker Network to launch real-money online poker on Yahoo.co.uk.

Re-Branding -- Campaign reported on April 20 that William Hill is reviewing a £4 million ($7.9 million) ad account as it looks to overhaul the brand ahead of changes to legislation covering gambling ads. The bookmaker is reportedly targeting agencies Bartle Bogle, Hegarty, WCRS and Poulters, and is looking to revamp its brand and logo. The news source said that the winning agency will be responsible for creating a "heavyweight TV and online campaign," scheduled to launch in September.

Appointed -- William Hill has appointed two of its senior staff, Ian Spearing and Ralph Topping, as executive directors. The company said these moves reflect the substantial increase in its size and complexity and the increasing importance of regulatory issues, both in the United Kingdom and abroad.

Retiring -- Steven Barlow has resigned as non-executive director of Gaming VC, with effect from May 15. "The board of Gaming VC would like to thank Steve for the significant contribution he has made since he founded the company," said non-executive chairman Adrian Smith. "I appreciated him remaining in a non-executive role whilst the selection of a new CEO was made, and with Kenneth Alexander (CEO) now appointed I concur with Steve that it is an appropriate time for him to retire …"

Launched -- Microgaming has launched new games in its Power Poker and video slots series.

Coming Soon -- CryptoLogic has announced it will release its first quarter results on May 10.

Done Deal -- Fun Technologies has closed a $15 million secured term facility with its majority shareholder Liberty Media.

Networking -- Cyprus-based Exotic Bingo has joined the Bingo Entertainment N.V. Network.

M&A Speculation -- Thisismoney.co.uk reports further on Wednesday's Ladbrokes takeover speculation. "As speculators searched for the next takeover candidate, many saddled up at Ladbrokes amid vague whispers of a £5-puls a share offer from Apax Partners or CVC," it said. The news source suggests Ladbrokes has been an attractive takeover target ever since the sale of Hilton Hotels last February. The business, it says, is "highly cash generative with solid, reliable earnings--characteristics that private equity firms absolutely adore."

In Relief -- Telegraph on Monday covered the dissolved deal between Ladbrokes and 888. The paper quoted Ladbrokes CEO Chris Bell as saying the deal was compromised by litigation risks that may have arisen from 888's previous activities as well as "the complexity of the United States."

M&A Clarification -- After talk of a takeover boosted its shares to record highs this week, Tabcorp snuffed out the rumors, saying in a terse prepared statement today that it has not received a bid approach. However, without citing sources, the Australian Financial Review maintains that Publishing & Broadcasting Ltd. and Macquarie Bank may still be considering a bid.

Administrative Goof -- Reports this week saying that the Washington State Legislature had passed a bill amending the state's anti-online gambling laws were false, according to Gov. Christine Gregoire's office. The State legislature mistakenly posted results for HB 1243, when the results were actually the votes for HB 1343, a motor vehicle registration bill. The error reportedly occurred during the posting. HB 1243, sponsored by Rep. Chris Strow, would provide an affirmative defense for violators of SB 6613, which increases the penalty for Internet gambling to a Class C felony. It also allows Washington resident the ability to gamble online in their homes for recreational purposes. SB 6613 went into effect on June 7, 2006.

Stock Watch -- On the LSE today, PartyGaming is down 7.50p to 51.00, 888 is down 2.75p to 118.75 and CrytpoLogic is up 12.50p to 1,375.