HOSTILE TAKEOVER
Following
Centrebet International Ltd.’s bid to acquire a substantial stake in
International All Sports Ltd., or IAS, the sought-after company released a statement recommending to shareholders to “take no action.”
In the note, Barry Coulter, chairman of International All Sports, said that Centrebet’s proposal “significantly undervalues the shares of IAS.”
The company’s shareholders were addressed earlier on Monday by Centrebet with a cash offer of 28 cents per share. If Centrebet acquires 90 percent of shares, the company said it will give shareholders an increased cash offer of 33 cents per share.
“Centrebet's cash offer is an extremely attractive opportunity for IAS shareholders,” said Graham J. Kelly, Centrebet's chairman, in the statement. “By accepting the Centrebet offer, IAS shareholders have the opportunity to put an end to their exposure to the inherent risks and uncertainty of holding IAS shares.”
After spending over a year on the market, the Melbourne-based bookmaker withdrew its Australian operations from sale in November due to unsatisfactory offers.
Monday’s announcement made International All Sports shares jump 68 percent to 27 cents.
SIGNING
Inspired Gaming Group, the server-based gaming provider, has signed a two-and-a-half-year contract with Stan James, a licensed betting office in the United Kingdom, the company announced on Monday.
The company said that this deal follows a successful trial and makes Inspired the exclusive supplier of its “Rainmaker” terminal across the entire Stan James estate.
“We look set to increase our dominance in the LBO (licensed betting office) market over the coming year, and this deal with Stan James demonstrates our focus on independents as well as major players,” said Martin Lucas, managing director of Inspired’s licensed betting office division.
ONE-STOP SHOP
Pentasia iGaming Recruitment has teamed up with Fenlex Corporate Services to bring the I-gaming industry BetonMalta, the companies announced last week.
The new venture has set out to be a “one-stop shop” for online operators seeking licensing and regulatory support, directorship, corporate administration, recruitment services, accounting, payroll, back-office support among other services.
“By offering the complete range of services required to establish a base on the island, BetonMalta allows investors and operators to stay focused on their core business activities rather than having to waste time and money shopping around for several separate service providers,” said Chris Vella, Pentasia’s regional director for the Mediterranean, in a prepared statement.
PUZZLED
More than two months after Casino Red closed, some staff members continue to look for answers, reports The Huddersfield Daily Examiner.
The United Kingdom-based casino located in Huddersfield, which also runs an online gambling site at CasinoRed.com, opened after a £5 million renovation in September.
According to the Daily Examiner, the casino shuttered after only eight weeks and told its staff of 100 that an investor was needed for the casino to continue.
Casino Red’s Web site does not mention the Huddersfield casino closure, and The Daily Examiner said that Casino Red’s online business was not affected.
Nambling Notes is .