In Line -- 888 said today that it has continued to trade in line with management's expectations, underpinned by stronger than expected current trading. It added that it is confident about prospects for the full year. Numis Analyst Richard Carter has projected a full-year pretax profit of $44.3 million. Shares closed at 129p on Friday, valuing the business at about £439 million, according to Thomson Financial.
Entraction It Is -- Sweden-based 24hHolding AB announced a change of name this morning to Entraction Holding AB. The name change reflects the company's decision to separate "the supplier organization from the gaming site operation." In October, 24hPoker and Martinspoker.com joined to become the Casablanca Gaming Group AB. CGG (or, "the gaming site operation"), via its Maltese subsidiary operates the 24hPoker.com, Martinspoker.com, Staffpoker.com and Danepoker.com brands. Entracation will therefore represent the "supplier organization." "The change in names marks the beginning of a new company that focuses fully on supplying the best products and services for our partners' gaming businesses," said Entraction Chief Executive Peter Åström.
Upping the Stake -- Malaysia's Genting Berhad has increased its stake in Rank from 9.38 percent to 10 percent. In a note to the LSE, Rank said it received notification today of the transaction, which took place on Dec. 13. Rank has remained the topic of takeover speculation in recent weeks after Genting purchased its 9.38 shareholding on Nov. 29. On the LSE, shares in Rank were down 1.25p, or 1.28 percent, to 96.75.
Supplied -- Race and sports wagering technology provider BEToptions has agreed to supply South Africa-based Atlantic Sportsbet with its WAGERplayer Internet sportsbook software. Atlantic operates sportsbet.co.za, licensed in Cape Town, which offers spread betting and "specifically caters to the South African sports enthusiast." Of the deal, Atlantic GM Lisa Haines said: "We believe that BEToptions offers us the ability and flexibility to successfully offer first-class sports wagering services to our client base."
Tote Back on the Selling Block -- The Financial Times reports that the U.K. Tote will be sold off on the open market after the government finally rejected a bid by a racing consortium to take over the state-owned betting agency. The paper says Gala Coral will be among the leading bidders, as it has already offered the government £405 million for the Tote. Meanwhile, bids from Ladbrokes and William Hill would "almost certainly face insurmountable competition hurdles," while Betfred, also in the running, "may find the Tote valuation (£400 million) too daunting." The auction is expected to begin next month and take about nine months.
Gala Secures Provincial License -- The Times reported Saturday that Gala Coral has secured a license from the Chinese province of Hebei to open "what would be the country's first bingo club." According to the paper the company believes the Chinese love of number-based gambling could support the development of up to 100 clubs in the province -- and over time, hundreds more in other regions. "Having secured a provincial license," the report said, "the company now needs a license from Beijing, although Neil Goulden, chief executive, said he was confident of success because the low-stakes nature of bingo was 'right in the sweet spot' of the Chinese government's gambling strategy."
Betfair Founder Takes Sabbatical -- Betfair founder Andrew Black announced on his blog that he will take a nine-month sabbatical following the launch of the betting exchange's Starting Price product last week. " . . . how I will serve the company after this break isn’t clear," wrote Black on bertsblog.co.uk. "It’s taken a long time to build, but right now I believe Betfair has a truly outstanding product team which has rapidly become one of the finest assets in the company. They don’t need me any more, and it’s great to be saying that."
Buy Paddy -- In a research note to clients this morning, Analyst Liam Igoe of Irish brokerage Goodbody maintained his buy recommendation on Paddy Power. In early September, the company posted record operating profits of $54.4 million. Shares in Paddy were down 0.44p, or 1.85 percent, to 23.25 on the LSE.
Stock Watch -- On the LSE, 888 was down 1p to 128.00, Neteller -- approaching a 52-week low -- was down 3.75p to 55.75 and SportingBet was down 1.75p to 49.75.