Big Deal -- The board of Austria-based BetandWin.com Interactive Entertainment AG, the parent company of online sportsbook BetandWin.com, announced today that they are in preliminary discussions with Sweden-based Ongame e-Solutions AB, poker software provider for the e-gaming industry, regarding an acquisition and they have entered into a Memorandum of Understanding. "In our clear aim to become the global leader of this industry, complementary acquisitions to our core business are key as organic growth alone will not suffice to reach the necessary critical size in time," Manfred Bodner, CEO of BetandWin told IGN. "Ongame fits all criteria of our acquisition strategy and might well become one of these steps in our development." He was unable to provide further information, as the deal is in the beginning stages.
888 in FTSE 250 -- Things are looking up for 888 Holdings Plc, operator of online casino 888.com. Shareholders will be happy to learn that not only has the share begun to climb rapidly, but after surpassing its IPO price, it might be included in the FTSE 250 index, the London Stock Exchange's second most important index, on December 19. 888's share has risen 35 percent over the past three weeks to 184p--a 5 percent return on its IPO price.
Fortuna Grows -- Fortuna Gaming Corp. announced that it has entered into a Letter of Intent to acquire 100 percent of the shares and operations of an online gaming company, including proprietary software for more than 80 casino games and a player base of 650,000 registered users. To maintain the integrity of the acquisition, the seller's name is being kept under wraps, but Fortuna anticipates closing the deal on or before March 31, 2006.
War Down Under -- The Racing Form Guide has reported that betting exchange Betfair, newly-licensed in Tasmania, faces new opposition. Hong Kong racing authorities have threatened to withdraw the rights of Australian TABs to bet on their events if Betfair Down Under attempts to operate on Hong Kong races. Hong Kong Jockey Club (HKJC) Executive Director Winfried Engelbrecht-Bresges said, "We are extremely concerned that if you give people the opportunity to profit directly from backing a horse to lose, you threaten the whole principle of this sport." He reiterated that the HKJC would only take action if Betfair broadened its operations into Hong Kong. … The Racing Form Guide also reported that after being denied permission by Racing Victoria Limited (RVL) to publish Victorian race fields Betfair has submitted an application to Victoria's Racing Minister John Pandazopoulos, for permission under the Gambling Regulation Act, which includes a provision that allows a wagering operator to apply directly to the Racing Minister for permission. Section 2.5.19 of the Act states, "The Minister may, by order published in the Government Gazette, approve the communication or publication or transmission by any means of the betting odds prevailing at, or race fields relating to, a race meeting."