Raising Funds -- Sportech said this morning that it plans to generate £41.4 million via a share placing to help fund the previously announced £51 million acquisition of Vernons. In mid-October, Sportech was given the all-clear from the U.K. Competition Commission to proceed with the deal. "The acquisition of Vernons, our number one strategic target, and associated fund raising together with the agreement for distribution of pool games through Ladbrokes' retail estate represents another major step for our strategy of repositioning Sportech that commenced two years ago," said Sportech Chief Executive Ian Penrose.
Jersey Deal -- Scientific Games has agreed to supply an Internet wagering platform and an interactive voice response telephone wagering system for New Jersey Account Wagering (NJAW). The three-year deal is expected to generate annual revenue of $1 million, and includes the option to extend for an additional year. NJAW, a partnership between the New Jersey Sports and Exposition Authority and Pennwood Racing, provides Internet and telephone account wagering services to New Jersey residents.
RTL, Party Partner Up -- PartyGaming has entered into an exclusive arrangement with German media group RTL Interactive to provide a German-language online poker school and informational Web site. Click here for the full story.
Coming Soon -- Nordic Casino Ltd. and 24hPoker have inked an agreement whereby Nordic Casino will launch on the 24hNetwork. "Nordic Casino Ltd. is an interesting partner as they belong to a group of companies that provides good marketing possibilities, which is a key factor for success in the gaming business," said 24hPoker CEO Peter Åström.
Incentivizing -- Virgin Games last week launched V*Points on Virgin Casino and Virgin Bingo, offering customers the opportunity to use Virgin Games' loyalty program, previously available only to Virgin Poker players. Customers may redeem V*Points for cash, travel or other Virgin products.
Negotiating -- Following this week's meeting between France and Brussels, European Commission spokesman Oliver Drewes told Reuters that legal issues had not yet been resolved and that the legal action would continue. "A process of intense dialogue will be started on technical and political issues, with the aim of meeting again in early February." France is set to take over the EU presidency in June.
Dividending -- CryptoLogic reported a quarterly dividend of $0.12 per common share this morning, scheduled to be paid out to shareholders on Dec. 14.
Stock Watch -- A tough day for bookmakers on the LSE, Ladbrokes and William Hill were down 13.75p and 10.50 to 377.75 and 575.50, respectively. PartyGaming was down 0.75p to 29.50, Neteller was down 2.25p to 77.00 and Sportech remained even at 10.25p.