14x for Stanley -- U.K.-listed casino group Stanley Leisure on Monday agreed to a staggering takeover bid from Singapore-based Genting International. The Malaysian casino company is offering to pay 860p per Stanley share--a multiple of about 14 times--amounting to £639 million for the takeover. The result, if the deal is completed, would be Genting getting stake in excess of 50 percent.
Wireless in Nevada -- Progressive Gaming International Corporation (PGIC) has received approval for the first installation of the wireless version of its Rapid Bet Live product for a live field trial at the Palms Hotel and Casino in Las Vegas. Rapid Bet Live enables live wagering throughout the entire course of a sporting event. The Nevada Gaming Control Board's Technology Division gave the company the go-ahead last week.
Fallout -- The Casino Affiliate Convention (CAC) is expected to take place Sept. 14-15 as scheduled at the Stardust Hotel and Casino in Las Vegas, despite several sponsor cancellations. Last week's arrest of Sportingbet chairman Peter Dicks has caused many I-gaming executives to reevaluate their travel plans to the United States.
No Advisory -- Despite its relationship with online gambling site Kiwicasino.com, New Zealand-based casino group Sky City is not worried about its execs being targets of U.S. law enforcement. Sky City holds two seats on the board of Christchurch Casino, which runs Kiwicasino.com through its wholly owned subsidiary Christchurch Casino E-Gaming Investments. After the recent arrests of two British online gambling execs in the United States, many international businesses with I-gaming interests have issued travel advisories to board members, but a spokeswoman for Sky City said this week that her company will not issue a similar advisory.
Closing -- An Alabama Internet cafe accused of operating gambling machines has decided to close its doors, according to the Columbus Ledger-Inquirer. Attorneys for Sweepstakes Internet Cafe agreed at a hearing Monday to close the business in Russell County. Its last day of business was Friday.
Stock Watch -- Shares of embattled Sportingbet today bounced back slightly from yesterday's massive slump on the London Stock Exchange, rising 10p to 154. Neteller also fought back, putting on 7.50p to 55. Other stocks continued to suffer, however, including Fairground Gaming Holdings, which fell 9p to 37.50; World Gaming, which was down 7.50p to 55; and Leisure and Gaming, which dropped 5p to 33.