888 Talks with USAO -- 888, the London-listed operator, said this morning that it had initiated preliminary discussions with the United States Attorney's Office for the Southern District of New York (USAO). The company said it would pursue talks with the USAO to asses the likelihood of legal action, specifically with regard to its operations in the United States before the enactment of the UIGEA on Oct. 13, 2006. It added that it is too early to "assess any particular outcome of [the] discussions," and that further announcements would be made when and if necessary.
Greener Pastures -- On the heels of recent talks with the United States Department of Justice (DoJ), Partygaming General Counsel David Abdoo announced his resignation this week. Abdoo has stated that the change is due to a need for a "career break" after a tumultuous year for Party. There is no indication that the DoJ talks have affected his decision to leave. Abdoo will remain with Partygaming until a replacement can be secured.
For Personal Reasons -- Global Payments Technologies, the payments technology provider, said Monday that Steven Nevitt, its president and CEO, had resigned for personal reasons. In mid May, the company reported that sales had fallen off 30.4 percent to $2.8 million; its share value has fallen 55 percent during FY 07.
Falling Short -- Online gaming supplier Alphameric announced this week that it was likely to fall short of expectations for earnings and revenue in 2007. The firm announced that the end of its business devoted to online gaming did not meet trading and order-intake expectations set at the beginning of the year. Despite the suspected drop, the firm does intend to continue expansion efforts by releasing an updated horse-racing program to betting shops throughout Europe
Coming Soon -- Sportingbet, the U.K.-based operator, will announce its third quarter results on Wednesday. The Times recalls that the company paid $400,000 to the state of Louisiana following the arrest of former non-executive chairman Peter Dicks on illegal gambling charges.
Doomed -- Officials at William Hill are so sure that Harry Potter will meet his end in Harry Potter and the Deathly Hallows that they have stopped taking bets on whether author J.K. Rowling's character will die and have shifted wagers to what villain will cause the boy wizard to meet his end. Rupert Adams, a spokesperson for William Hill said that betting was suspended because "Every penny was on Harry dying, and [betting] became untenable." The final chapter of the Harry Potter series will be released on July 21.
For the Cause -- A number of Antigua-based gaming companies, including Sportingbet , CB Corporation and Helix International, have recently donated a large amount of computing equipment to the Antigua & Barbuda Defense Force (ABDF). Representatives of the ABDF were grateful for the show of corporate responsibility, and stated that the equipment would be used to advance the defensive and informational infrastructure of the twin-island nation. Kay McDonald, Antigua's Director of Gaming, expressed a hope that such a donation represents the first of many designed to improve the social welfare of Antigua itself.
Heavily Hedged -- The Financial Times reports on Monday's announcement from PartyGaming. The paper says that the release was a "welcome signal" that Party is "trying to draw a line under its U.S. adventure." That its shares dipped, the paper says, looks illogical, in that other I-gaming operators like Sportingbet and Neteller have reached, or are in the process of reaching, terms with U.S. state and federal authorities. The paper further editorializes that Party's statement was "heavily hedged" and that speculation regarding a liberalized U.S. I-gaming market has been "overstated."
Stock Watch -- Shares in bwin dropped sharply Monday on news that it might launch a 90-pence-per-share bid for Sportingbet. Thomson Financial, the financial news service, quoted analyst Leopold Salcher at Raiffeisen Centrobank as saying that he was surprised at the value of the bid, which was "very high" in light of earlier market rumors that had placed any takeover bid between 60 and 65p per share. And in late afternoon trading on the LSE today, In late afternoon trading on the LSE, 888, which this morning announced it, too, was in talks with the U.S. Justice Department, is up 0.75p to 116.75, PartyGaming remains even at 41p and Ladbrokes is up 4p to 410.75.