Burying the Hatchet -- Former combatants Turf TV and Ladbrokes have agreed to a five-year deal that sees Turf TV broadcasts shown across all 2,200 of the London-listed bookmaker's betting shops. The Guardian reports that Ladbrokes and William Hill have "been under intense pressure to cut a deal with the service since Coral caved in two weeks ago." To boot, the Ladbrokes deal means that more than 6,500 licensed betting offices in the United Kingdom and Ireland -- three-quarters of the total market -- will now broadcast Turf TV, challenging the dominance of rival Satellite Information Systems. Turf TV, which the paper calls "the fledgling betting shop channel," has yet to ink deals with the likes of William Hill or Betfred. Currently Turf TV has deals in place with just over half of Britain's 59 racecourses, with Ascot, Cheltenham, Newmarket, Aintree, Espom and Sandown having joined Monday.
Another One for NetEnt -- Net Entertainment has agreed to supply its CasinoModule platform to Glimmer Ltd., primarily a land-based group, which is looking to launch its online casino during Q2 2008. "The fact that we signed 18 new license agreements during 2007 demonstrates the strength of Net Entertainment's offering," said NetEnt Chief Executive Johan Öhman. No word yet regarding December's announcement of a mystery Eastern European licensee.
Totesport Heads to Alderney -- Totesport.com, the Internet arm of the U.K. Tote, has left Curaçao for the tax-friendlier confines of Alderney -- a controversial move that the Guardian suggested will come as an "embarrassment for ministers who have sought to present the United Kingdom's approach to online gambling regulation . . . as world-leading." The 15 percent Remote Gambling Duty set by former Budget Minister Gordon Brown was not well-received by the industry and is by industry and mainstream media considered to be prohibitively high. A spokesman for the Tote reportedly said that the decision to relocate to Alderney had been taken in order to allow it to advertise freely in the United Kingdom, arguably the world's largest legal market for online poker and casino games. "This is a business decision," said a spokesman for the U.K. Department for Culture, Media and Sport, which had consulted on the decision. "The Tote is run as a business."
NGC Approves Harrah's Sale -- Harrah's announced Dec. 21 that it had received approval from the Nevada Gaming Commission for the proposed $17.7 billion sale of its business to private equity tandem Apollo Management Capital and TPG Capital. Harrah's said in a written statement that the approval follows the Dec. 6 recommendation of the Nevada Gaming Control Board. "Moving forward as a private company after the closing of the transaction, we will continue . . . our further development in international markets and strengthen our competitive position in each of the markets where we operate," said Harrah's Chief Executive Gary Loveman. The deal is expected to close in early 2008. Gary Thompson, a spokesman for the group's World Series of Poker operation, told IGN in November that Harrah's is "taking a very serious look" at launching a Europe-facing Internet offering.
M&A News -- The London Times reported in late December that the directors of Betgenius are mulling a sale that could fetch between £50 and £60 million. Managing Director Michael Hornung, the group's majority shareholder, as well as its biz development director Alistair Flutter and directors David Walker and Max Locke would stand to profit substantially. Sources with the paper said that that a strategic review was "in its early stages" and that it would be "some time" before any decisions were made. In other M&A news, Rank Group made headlines in late December on news that private equity group Duke Street Capital was interested in acquiring its Mecca Bingo business. Rank Chief Executive Ian Burke told the Times that the group had received a written proposal from Duke regarding the acquisition. The paper went on to speculate that Rank directors had dismissed the proposal.
Stock Watch -- On the LSE, 888 was up 2p to 144.00, London Capital Group was up 24p to 434.00 and William Hill was down 25p to 499.50.