Nambling Notes | Feb. 23, 2009

23 February 2009

SIGNING After reporting record growth last week, GameAccount has signed a software licensing agreement with Gaming VC Corporation.

The software developer will provide the Malta-based operator access to its portfolio including “Dominoes,“ “Poker Dice,” “Gin Rummy” and others.

“Unlike other suppliers’ skill gaming products, GameAccount’s games are proven revenue generators,” said Kenny Alexander, chief executive of Gaming VC, in a statement. “Furthermore, non-poker skill-based games are expected to become a crucial part of any regulated Italian sportsbook operator’s product portfolio.”

Earlier this month GameAccount, whose network includes William Hill and Gala Group among others, reported record growth during the last quarter with a 75 percent jump quarter-over-quarter in the amount staked on its site.

EXPLAINING Last week the European Union’s Internal Marketing Commission asked Greece to explain why OPAP S.A. won a contract for its integrated gaming computer system without a public tender, Reuters reports.

According to the news service, the Commission’s initial step was issuing the formal notice, and if a resolution is not reached, the case could go before the European Court of Justice.

The country’s betting monopoly is also under scrutiny by the European Court of Justice.

STEPPING DOWN Magna Entertainment Corporation’s lead director has jumped ship while the troubled horse racetrack operator undergoes an expedited review by the Toronto Stock Exchange, which could result in a delisting for the company.

On Feb. 20, the Canadian company announced that Jerry D. Campbell, lead director and a member of its audit committee, had stepped down.

The company did not state a reason for Mr. Campbell’s departure, though it did explain that his absence would affect its Nasdaq requirements for a three-member audit committee. The company said that it intends to regain compliance by the conclusion of Nasdaq’s cure period, which will end Feb. 20, 2010.

In late January, Charlie J. Williams stepped down as the company’s director due to other pressing business issues.


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