Betbrokers Ltd., the online gambling operator, has announced the launch of BetBrokersBinaries.com, a fixed odds financial betting Web site. The offering, which Betbrokers calls a first-in-kind in the United Kingdom, follows a white label deal with Trinitas Capital, the online fixed odds financial bookmaker. The new service will offer a range of 10 different types of fixed-risk bets on financial markets, single stocks, stock indices and the foreign exchange markets.
Separately, James Hollins, an analyst with Daniel Stewart & Co., the London-based brokerage, has issued a buy note on Betbrokers shares. Mr. Hollins wrote Monday that the BetBrokersBinaries.com service comes with "zero commission and tax levels, making it a highly attractive, regulated product for customers." While the "upside" of the launch is yet to be factored into forecasts, he said, the launch underpins his projection of £7 million, or $13.8 million, for full-yearly group revenue. The company's shares, currently trading at 1.38p, have been given a target price of 3.5.
888 Holdings, the online gambling operator, has announced a strategic agreement with CTXM, a software provider to the online gaming and video games industries. The agreement covers the periodic release of a number of games developed and customized specifically for 888, including titles Cards HiLo and Wild Wheel. The deal is the second of its kind -- product design and integration -- for 888 in recent weeks. Nick Lambert, a spokesman for 888, told IGN in March that the company has "opened up to striking third-party agreements" as part of its strategy for growth.
Spin3, the mobile software developer with ties to Microgaming, has launched 3 Card Poker, a title based on the popular table game. Played with a standard deck of 52 cards that is shuffled before each game, 3 Card Poker consists of two games in one -- the Pair Plus game and the Ante game -- which can be played together or as individual games. The new game will be available "over the next few months," the company said.
The Sunday Times reported the Richardson family, the U.K.-based private property investors, has "secretly" upped its stake in Rank Group, the land-based and Internet gambling operator, from 9.3 percent to more than 11 percent. The Richardsons, worth an estimated £500 million, or $993.1 million, have been amassing the stake, the paper said, using derivatives known as contracts for difference, through a vehicle called Richardsons Capital. The news follows last week's announcement from Genting Berhad, the Malaysia-based investment arm of Genting Group, confirming it would not make a rumored $959 million offer for Rank. For purposes of reference, the Richardson family holds at least 11 percent in Rank, Genting, 11.03 percent, and Guoco Pty Ltd., the investment arm of Hong Leong Group Malaysia, 9 percent.
Intralot S.A., the lottery operator and gaming technology supplier, will take a 51 percent stake in Slovenske Loterie, a group based in the Slovak Republic holding licenses, issued by the Slovak Ministry of Finance, for the operation of video lottery terminals and automated roulettes. Intralot said it will be able to increase its equity participation up to 81 percent through the exercise of call option rights across the next two years. Moreover, via the transaction, Intralot will acquire exclusive access to all proprietary rights of the technology assets of Tornado s.r.o., the software supplier. Intralot said it expects the synergies born of the deal to increase Slovenske Loterie's market share.
On Sunday, the Kansas City Star ran a two-part opinion piece covering the debate on whether to repeal the Unlawful Internet Gambling Enforcement Act. Radley Balko, senior editor of Reason magazine, argued the UIGEA will be difficult to enforce without giving U.S. law enforcement exceptionally broad powers, as the owners of some online gambling sites are based offshore. By contrast, Christian Science Monitor argued that the UIGEA has helped reduce gambling among college students, adding that Congress should impose a full ban on Internet gambling, including horse racing, which is currently exempt.
U.S. Representative Jerrold L. Nadler, the New York Democrat, has signed on as the 48th co-sponsor of the Internet Gambling Regulation and Enforcement Act (IGREA).
The Telegraph reports 888 Holdings is expected to "reveal a recovery in profits for 2007" on Tuesday. The paper says market expectations are for underlying pre-tax profits of between $45.3 million and $47.4 million. Highlights from 2006 include a 7 percent rise in net gaming revenue to $289.9 million from $271 million in 2005, with profits before tax up 34 percent to $90.5 million from $67.4 million in 2005.
On the London Stock Exchange today, Rank Group was up 1.75p, or 1.9 percent, to 91.75, William Hill was up 8.75p, or 2.2 percent, to 411.00 and London Capital Group was up 6.25p, or 1.94 percent, to 328.00.