Closed -- Online poker site Doylesroom.com on Monday announced the closure of its U.S.-facing operation. "In view of the passage of the [Unlawful Internet Gambling Enforcement Act] and the cessation of operations by Neteller and other payment processors, the management of Doylesroom.com has reluctantly decided not to permit online real-money play by U.S.-based players," the company said in a prepared statement.
A 'Challenging' 2007 for Ladbrokes? -- In a research report issued today by Panmure Gordon, analysts said that Ladbrokes is likely to report its 2006 profits before tax, diluted earnings per share and final dividend at £228 million ($445.8 million), 18.5 pence and 4.8 pence, respectively. Analysts also said that it would be "extremely challenging" for the company to generate profit growth in 2007.
Thanks for the Mummery -- The Isle of Man's Department of Trade and Industry (DTI) announced today that Bill Mummery, former head of e-gaming development, will return to the private sector, taking up a "senior appointment within the e-gaming sector." "I am very proud of the way the e-gaming industry has grown on the Island during my time with the Government," he said. Mummery will leave his position within the DTI on March 31, 2007.
In Due Course -- The Sunday Times reported that concerns are being raised about the level of debt to be taken on by the racing consortium trying to buy the Tote. With debt finance from Lloyds TSB, the consortium--comprised of Tote management, racecourse operators and racehorse owners--submitted a formal offer on Jan. 26, 2007. The British government has been reviewing the bid and has said only that it will announce its response "in due course." A large part of the debt will be provided by a "payment in kind," an expensive form of debt, carrying an interest charge of 28 percent, the paper said. An estimated £350 million ($683.8 million) of the £400 million ($781.6 million) asking price is being financed with debt.