TAB War -- TAB Ltd., which announced last month that it would merge with UNiTAB, but then received a higher offer from Tabcorp last week, has indicated that it will proceed in its agreement with UNiTAB. TAB released a statement that says, "Having received financial advice from ABN Amro and Macquarie Bank, and legal advice from Freehills, the board has resolved to seek clarification from Tabcorp of the terms of its proposal given that the proposal is highly conditional in nature and is expressed by Tabcorp as incomplete and incapable of binding Tabcorp." The statement concludes, "TAB is continuing to progress the merger proposal with UNiTAB Ltd announced on October 16, 2003." Still undiscouraged, Tabcorp's managing director, Matthew Slatter, says his company will meet with the Australian Competition & Consumer Commission in order to gain permission for a Tabcorp-TAB merger. "We're seeing them next week to present our detailed case," Mr Slatter said. "Our argument will be that we don't believe that this is an issue in a competition sense."
"Comps" Online -- I Gaming Business reports that a web site called PlaySys.com will offer casino gamblers information about what kind of complimentary offerings they can get for playing at particular casinos. PlaySys, which has contracts with many casinos to provide information about freebies and special offers, will receive commissions based on the losses of gamblers who are referred to the casinos through PlaySys. The company has agreements with about 60 casinos across the globe and expects revenues of $15 million in its first year.
Code of Practice -- The interactive Gaming, Gambling, and Betting Association (iGGBA) and GAMCARE, the UK's problem gambling charity, today adopted a Code of Practice for social responsibility issues in remote gambling. After several months of discussion, the two organizations have drafted an eleven point code that addresses issues of customer responsibility and protection, such as age identification, customer and operator mechanisms that encourage responsible gambling, and the obligations of providers for advertising, free play, training, and support. Andrew Tottenham, Chairman of iGGBA, said, "“It has been a pleasure working with GAMCARE and both parties hope that the UK government and Gaming Board will consider this Code as the basis for their future regulations in this area."
Quoteworthy -- "The market is dominated by two or three major players. For instance, horse racing is split at around 80% market share for Betfair, 10% market share for Betdaq and 10% market share for Sporting Options. The other exchanges probably get less than 1% of that particular market.”-- Rob Hartnett, Managing director of Ireland-based betting exchange Betdaq. Speaking at the European I-Gaming Congress and Expo in Barcelona, Hartnett explained that there is currently around a dozen betting exchanges, but because the market cannot sustain so many, there is likely to be a period of consolidation among the exchanges in the near future.
Deal -- E-commerce payment processing and technology company FreeStar Technology Corporation has signed an agreement to provide Sportingbet, with its e-payment processing solutions. FreeStar will supply its Internet payment gateway and its suite of products for secure online transactions. Sportingbet's CEO, Nigel Payne, says FreeStar should help the company reduce processing costs, online chargebacks, and fraud.