ACQUISITION AGREEMENT Sportsbet Pty Limited, the Australian bookmaker, has agreed to acquire International All Sports Limited, or IAS, a firm in which it already holds a 19.98 percent stake.
According to a Wednesday stock-exchange statement from Sportsbet's majority stakeholder, Paddy Power, the acquisition values IAS's entire issued share capital at 22.4 million euros.
IAS is expected to have a small net cash position, minus client balances, at the acquisition's scheduled completion in October 2009.
The acquisition remains subject to approval from IAS shareholders and the Supreme Court of Victoria.
IAS was recently targeted by Centrebet International Limited in an unsuccessful hostile takeover bid. Paddy Power, meanwhile, secured its majority holding in Sportsbet in May.
IAS sold its Canbet.com operation for 1 million Australian dollars to Yin Khing Investments Ltd. in May.
YIN AND YANG Barney Frank, sponsor of a new Internet gambling regulatory bill, and Spencer T. Bachus, a noted I-gaming opponent in Congress, debated the merits of regulation on U.S. News and World Report's Web site.
This link came to our attention via Mark Hichar, a frequent IGamingNews contributor on United States law.
TUNE IN Ionoco, the broadcast technology provider, has developed and launched The Poker Channel's Casinojoy televised blackjack service.
The Ionoco technology takes live-game data from the Casinojoy Web site and plays out selected games and tournaments on TV.
PASSED An Illinois Senate bill, SB 1298, has passed both houses of the Legislature that would allow state residents to make Internet bets on horseracing.
It awaits the signature of Governor Patrick J. Quinn.