Splitting -- Internet gaming software developer CryptoLogic Inc. confirmed today that Betfair Poker will move to an in-house technology solution at the end of October. Betfair in November 2005 purchased Malta-based poker platform Pokerchamps and Denmark-based Aglet Technologies with the intention of becoming a self-sustaining gaming company. The end of the Betfair/CryptoLogic partnership, therefore, has been anticipated for several months.
Withdrawing -- Online gaming giant PartyGaming has reportedly pulled out of the early bidding process for privately held sports betting and gaming firm Victor Chandler Group. PartyGaming is instead focused on its recent EUR102 million acquisition of online sports betting group Gamebookers, according to an industry insider. Gibraltar-based Victor Chandler has hired investment banking group Zeus Capital to help with the sale.
Growing -- A new report released by research firm Screen Digest estimates that U.K. consumer spending on Internet gambling will increase from £660 million in 2005 to £1.6 billion in 2010. The study profiles 30 U.K. operators from the sports betting, poker, gaming, exchange and spread betting sectors and covers historical and forecast data between 2000 and 2010. The report states that consumer spending has been historically generated by hardcore gamblers, but it predicts the trend is about to change. Beginning this year, Screen Digest reports, growth will be driven by more leisure-oriented consumers as gambling formats emerge targeting the mass market, particularly gaming and lotto.
Splitting - Part 2 -- The board of Sportech Plc announced today that COO Gary Speakman has resigned from the company to pursue other business interests. Speakman is relinquishing his responsibilities effective immediately and will formally terminate his employment on Sept. 29, following a leave of absence.
Quoteworthy -- "We have been working on an Internet gambling bill for years. Meanwhile, gambling predators have been suckering millions of Americans into losing billions of dollars. It's up to the Senate to get this job done and shut down most of these gambling sites. It would be tragic to come this close and fail. The senators just need to hear from the voters."
Barrett Duke, vice president for public policy and research of the Southern Baptist Ethics & Religious Liberty Commission (ERLC), as quoted by the Baptist Press. The ERLC is lobbying to get the Internet Gambling Prohibition and Enforcement Act passed in the Senate, which reconvenes on Tuesday. The bill has been lumped into the "American Values Agenda" created by House Republicans.
Stock Watch -- Shares of U.K. leisure group Rank Group PLC rose 13.25p today to 226.75, following the company's announcement that it will close its head office and cut 240 jobs as a cost-saving measure. Despite the collapse on Thursday of its apparent deal to acquire London Clubs, Stanley Leisure kept its chin up today and climbed 24p to 680. Other movers included World Gaming, which rose 6p to 80.50, and Sportingbet, which dropped 6.50p to 246.75.