Nambling Notes - April 28, 2008

28 April 2008

Guoco Pty Ltd., the investment arm of Hong Leong Group Malaysia, on Friday upped its stake in Rank Group from 9 percent to 10 percent. Since its September 2007 profit warning, Rank has remained a steady subject of takeover speculation. In late March, Genting Berhad, the Malaysia-based investment arm of Genting Group, denied rumors that it would make a $959 million offer for the land-based and Internet gambling operator. The Richardson family, U.K-based private property investors worth an estimated $993.1 million, has also been quietly building a stake in Rank. For purposes of reference, the Richardson family holds at least 11 percent in Rank, Genting, 11.3 percent, and Guoco, 10 percent.

Cantor Gaming, the gaming arm of financial services company Cantor Fitzgerald, has gone live with its first Internet casino,, under Maltese licensure.

Las Vegas Review-Journal suggested in an editorial Friday that the U.S. Congress should "pull the plug" on the "ridiculous" Unlawful Internet Gambling Enforcement Act. "If repeal of legislation won't fly, neutering it just might," the paper said, in reference to H.R. 5767, a bill jointly introduced by Representatives Barney Frank and Ron Paul in mid April.

The Observer reports that a U.K. High Court hearing this week will pit the "most powerful forces in horseracing and betting against each other." Turf TV, the betting shop broadcaster, will meet executives from Ladbrokes, William Hill and Betfred on Thursday after mediation talks -- designed to settle claims of anticompetitive behavior and collusion -- broke down in mid April. The paper says the trial is expected to last four weeks, with each side paying upwards of $10 million in costs.

WinAsUGo, the mobile casino operator, has inked a deal with UKash, the London-based e-commerce provider, whereby WinAsUGo will offer branded pre-paid cards in high street shops across the United Kingdom.

The Statesman, an India-based daily, reports Anurag Dikshit, co-founder of PartyGaming, was one of the "five richest Indians" on the Sunday Times Rich List of 2008.

On the London Stock Exchange Monday, London Capital Group was up 14p, or 4.3 percent, to 341, Neteller was up 3.25p, or 5.4 percent, to 63.25, while PartyGaming was up 2.25, or 9.2 percent, to 26.75.

Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.