Betfair Advisors -- British betting exchange Betfair has appointed Morgan Stanley and Goldman Sachs as financial advisers to a potential float on the London Stock Exchange. The company, which has had no comment for the media since the banks' appointment was revealed Saturday, had previously stated that no float would take place before the first quarter of 2006. A float could give the company a value of an estimated £800 million to £1 billion.
Victory 247 Deal -- Online betting company Betsson and I-gaming software provider Net Entertainment, both of which are owned by Swedish gaming company Cherry, have signed a three-year deal to provide online gaming solutions to Victory 247. The companies will supply Victory 247 with a unique front-end white-label solution that offers exchange betting and multiples, poker and casino games, in addition to payment and support services. According to Cherry, Victory 247 is a new European interactive gaming company owed primarily by a large European TV company, by Telitas and by a well known British venture capital company.
Another Float -- Jackpotjoy.com, an online gaming company that provides bingo and instant-win-type games, is reportedly in the final stages of reviewing potential advisors to a £100 million float on the Alternative Investment Market of the London Stock Exchange. Netherlands Antilles-based Jackpotjoy has over 500,000 players and pays out over £20 million per month in winnings. A company spokesman stated that although a float is the preferred option, a sale to a larger gaming company has not been ruled out.
Binary Betting -- Spread betting firm IG Group plans to simplify and re-brand its sports binary offering in order to widen its appeal to mass audiences both in the United Kingdom and internationally. The company is coming up with a new name for binary betting. According to CEO Nat le Roux, "People tend to associate binary betting with the financial market and a 0-100 index, but in the sports area we offer back-and-lay facilities on a wide variety of markets, particularly in running, so we need a new name to distinguish it." Le Roux believes that spread betting may have reached a peak so he would therefore like to promote the fact that IG offers a competitive alternative to sports betting exchanges.
Community Features -- RiverBelleCasino.com has introduced new multiplayer versions of blackjack and slots in an effort to create a social, interactive experience similar to that of online poker rooms. The Microgaming-powered games enable customers to play alongside one another, observe each other's play and chat if they feel so inclined. The site features many three- and five-seat tables with different betting limits and many of the popular American and European rule variations. Also available are multiplayer standard slots, multiplayer community slots and multiplayer pot slots.
Two Years -- Susan Bala, the founder of North Dakota-based Racing Services, was this week sentenced to two years in prison, to be followed by two years of probation. Bala and her company were convicted of 12 counts in February, including conducting an illegal gambling business, conspiracy to conduct an illegal gambling business, illegal wire transfer, and nine counts of money laundering. Prosecutors alleged that Racing Services' operation between October 2002 and April 2003 of a simulcasting and betting network was illegal because it was not licensed through a charity and because taxes were not paid on the betting.