More M&A -- In the latest mergers and acquisitions news, gaming technology company eBet announced last week that it has reached an agreement on terms to acquire assets of U.K.-based Octavian Gaming Systems. The new company will be called Octavian Global Technology. The initial purchase price for the Octavian Group will be $23.2 million, calculated on the basis of a multiple of 7.68 times forecast NPBT (net profit before tax) of $3 million for the Octavian Group for the year ended Dec. 31, 2006. This will be paid in the form of 136.8 million eBet fully paid ordinary shares of $0.22 per share. Additional payments--a mixture of cash and ordinary shares, with ordinary shares being issued at prices of $0.22, $0.25, $0.27 and $0.30 per share in each of the years 2007 through to 2010--will be made subject to achievement of paid sales of Octavian products over the next foura years. eBet is looking to finalize all transaction documents by the end of 2006, with a targeted date of completion in February 2007. Each party has agreed to deal with the other for a non-exclusive period of 90 days.
Before the Storm -- Tech news site ZDNet.com reported today that the online gambling sector experienced gains in Europe, up 3 percent in September versus August. Cassava Enterprises--which includes 888 Holdings--leads the sector with 6.9 million visitors (up 9 percent versus August). PartyGaming followed with 4.1 million visitors (up 16 percent versus August). However, ZDNet emphasized that the information was gathered prior to the passing of prohibitive Internet gambling legislation in the United States.
The Royale Treatment -- Online poker site PokerStars.com has teamed up with Aston Martin Racing (AM) to offer Stars players the chance to win AM's new DBS GT car. The DBS was featured in the latest Bond installment, Casino Royale. The draw begins Dec. 9, 2006.
Appointed -- U.K. gambling charity group GamCare today announced the appointment of Nicola Crewe-Read as director of communications with immediate effect. Crewe-Read will assume responsibility for GamCare's media relationships.