NEW SUIT Bloomberg reports PartyGaming has sued Livermore Investments Group Ltd. over its December 2006 purchase of Livermore's Empire Online I-gaming business.
Livermore “failed to deliver a certain amount of income under an acquisition made three years ago,” John Shepherd, a spokesman for Party, told the news service Monday.
The suit was filed in London Dec. 23.
APPEALING Codere S.A. said it will appeal local regulators’ decision not to renew its 15-year operating license for a bingo hall in Argentina, Reuters reported on Friday.
The Spain-based company that specializes in the management of slot machines, bingos, betting shops, casinos and racetracks said it will appeal since it believes all renewal requirements were met.
The company told Reuters it expects for the license to be renewed eventually but did not state a specific time.
PUSHED BACK The bidding deadline for Turkey’s national lottery will be pushed back by a month at the request of investors, Reuters reported on Friday.
“There is no shortage of interest from investors in the national lottery,” Metin Kilci, the privatization administration chairman told Reuters. “We expect that the privatization process will be completed successfully.”
Previously companies seeking the 10-year license to operate the country’s lottery were asked to apply for pre-qualification by Jan. 15, 2009, and bids to the Privatization Administration Board could be submitted until Feb. 27, 2009.
The winner of the 10-year license will retain 17 percent of revenue after sales and gambling taxes, according to officials at the state asset sales agency.
Companies expressing interest have included Intralot S.A. of Greece and Turkey's Koç Holding. Camelot Group, which operates the United Kingdom's National Lottery, may also bid, as well as Essnet A.B., Tatts Group Ltd., Gtech Holdings Corporation, Lottomatica S.p.A., Osterreichische Lotterien G.m.b.H. and Sisal S.p.A.
TRANSACTION COMPLETE On Friday, Playtech Ltd. announced that it completed a transaction of affiliates and assets to William Hill, a deal which was previously announced Oct. 20, 2008.
The company said that following the completion, Avigur Zmora has stepped down as a director, though he will remain a consultant to Playtech.
More information will be provided to investors in its normal pre-close trading statement on Jan. 22, 2009, the company said.
ADW AGREEMENT Advanced deposit wagering outlets owned by TrackNet Media, TwinSpires.com and XpressBet.com, as well as to Youbet.com, will be taking bets this season at Oaklawn Jockey Club.
Oaklawn, the Arkansas division of the Horsemen’s Benevolent and Protective Association and TrackNet Media finalized an agreement, the jockey club announced on Wednesday.
As a result, Oaklawn races will be available for advance deposit wagering for the 2009 live thoroughbred season, which includes 54 racing days from Jan. 16 to April 11.
“TrackNet’s goal has always been to broadly distribute the content of its member racetracks,” said Scott Daruty, president and chief executive of TrackNet, in a prepared statement. “Unfortunately, in the recent past various industry issues have prevented that from happening. However, we are now at a point where those issues appear to be resolved.”
Bobby Geiger, Oaklawn gaming and wagering director, said the negotiation process had been “ongoing for some time.”
“There was a great spirit of cooperation between all the interested parties, and we’re excited to have this completed in anticipation of the opening of our live meet,” he said.
NO CHANGE IN ITALY Marco Sala, chief executive of Lottomatica S.p.A., said that he hasn’t seen a change in the Italian lottery in the current economy, which he discussed in an interview published on Saturday in The Financial Times.
“People are not playing more because of recession,” Mr. Sala told the paper. “They are maintaining their habits and behavior without major changes. Those (lines) that are doing well are still doing well. Those that are stagnating are still stagnating or declining.”
According to the article, Lottomatica’s growth product has been scratch-and-win cards. Purchased by one in four Italians, the tickets are expected to make 9 billion euros in 2009 for the company.
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