GARBER APPOINTMENT CONFIRMED
Last week
Harrah's Entertainment Inc. unveiled
Harrah's Interactive Entertainment Inc., a new subsidiary to manage
World Series of Poker and "explore a European interactive strategy," and named
Mitchell A. Garber, a former chief executive of
PartyGaming, the new division's chief executive.
Harrah's said it wouldn't respond to the "rumors and speculation" when IGamingNews first reported about Mr. Garber's appointment in mid April.
The group finally put speculation to rest with Friday's announcement, which was dubbed by The Las Vegas Review-Journal as the "worst-kept secret in the world of online gaming."
"As the world's largest gaming company, Harrah's is taking a proactive approach toward international and interactive expansion," said Gary W. Loveman, the casino operator's chairman, president and chief executive, in the announcement. "It is important we position ourselves to explore new markets as well as new technologies with our best in class brands," he added.
Mr. Loveman told the Las Vegas Review-Journal that he sees the best potential for United States legalization in online poker.
According to Harrah's, Jeffery Pollack will join Mr. Garber as president of the interactive division and still remain in his current role as commissioner of the World Series of Poker.
REPORTING
OPAP S.A., the Greek betting monopoly, saw an uptick in both revenue and net profit during the first quarter of 2009.
First quarter revenue grew 6 percent to 1.46 billion euros when compared to last year's corresponding period, which OPAP attributed to its numerical games.
Net profit also went up year over year by 3.5 percent to 215.7 million euros, while the company's earnings before interest, taxes, depreciation and amortization was down .09 percent at 299.5 million euros from high distribution costs.
The group's sports betting revenue fell 8.4 percent because of lower Stihima revenue, OPAP said.
CONSOLIDATION?
Both PartyGaming and 888 Holdings are expected to submit bids this week for Cashcade Ltd., the online bingo company, according to British media reports.
The Telegraph reports that 888 leads the pack bidding on the Foxy Bingo owner, which is estimated to cost £70 million and £100 million.
Media reports also list Paddy Power, the Irish bookmaker, as a potential bidder.
According to the London Times, the company, which claims to be the second largest operator of bingo sites in the United Kingdom, recently hired Jefferies & Co. to run an auction for the sale.
PETITIONING
The European Parliament Committee on Petitions has accepted a petition from Stanleybet International Ltd. regarding its Greek clash and has asked the European Commission to investigate, according to the fixed-odds betting firm.
Submitted in late January, the petition by customers and intermediaries concerning the November arrests in Greece lists a number of complaints including that Greek legal proceedings against Stanleybet's Greek outlets "deprive its intermediaries from their current and future livelihoods as well as their personal freedom."
In October, Greek authorities raided two Stanleybet shops set up to challenge OPAP S.A., the country's betting monopoly.
"The Greek authorities’ behavior is clearly outrageous, and I am pleased that the European Parliament has decided to investigate," said John Whittaker, Stanlelybet's chief executive, in a statement.
Click here to listen to a March interview with Adrian Morris, Stanleybet's managing director, discussing the Stanleybet-OPAP clash.
BRANDED
On Monday, GameAccount, the software developer, and Eidos Interactive, a video game publisher, announced an agreement to create online person-to-person skill games.
Based on three of Eidos' franchises -- "Championship Manager," "Kane & Lynch: Dead Man" and "Battlestations: Pacific" -- the games will push the GameAccount Network into the branded games ring.