PartyGaming and bwin Interactive Entertainment plan to merge, creating the world's largest listed online gaming business.
The enlarged group will be owned approximately 48.36% by PartyGaming and and 51.64% by bwin shareholders and will be listed on the London Stock Exchange.
Irrevocable undertakings in support of the proposed merger have been received from shareholders holding 28.5% of PartyGaming and 14.4% of Austrian-listed bwin.
Jim Ryan, CEO of PartyGaming, said, 'This is a transformational opportunity for both our companies to create the world's largest listed online gaming business.
'With market-leading positions in poker, sports betting, casino and games (in particular bingo), the enlarged group will have a winning formula to exploit the growing online gaming market, supported by a strong balance sheet, significant cashflow generation and a highly experienced management team.'
Norbert Teufelberger, co-chief executive of bwin, said, 'This merger of equals makes great strategic, operational and financial sense.
'We will be in pole position to capitalise on the wealth of opportunities that will flow from the continued evolution and expansion of the global online gaming industry.'
Ryan and Teufelberger will jointly head the merged group.
The merger is expected to be significantly earnings enhancing for both companies pre-amortisation. Annualised synergies are estimated at 55m.
Pro forma 2009 net gaming revenue was 682m with EBITDA of 196m before synergies.
The proposed merger will be effected by merging bwin into PartyGaming, which will continue to be domiciled in Gibraltar.
bwin shareholders will receive 12.23 new PartyGaming Shares for each bwin Share. The merger is classified as a reverse takeover for PartyGaming under UKLA rules.
July 29, 2010
Abandoned betting accounts may be used to fund UK sports
The UK government is to compile a report into how much money is left abandoned in betting accounts, with a view to the proceeds being used to improve public sports facilities and clubs.
The review stems from a pledge in the Coalition Agreement to look into the best use of abandoned betting accounts. Work will be done to determine how a betting account can be classed as 'dormant', and to clarify legal ramifications surrounding the potential uses of the money.
John Penrose, UK minister for Tourism and Heritage, who has asked MP Don Foster to compile the report, said. “Every day thousands of people bet on the outcome of sporting events. Therefore it seems a natural fit that funds from abandoned betting accounts should be used to benefit grassroots sports projects.”
Foster added: “I’ll be meeting representatives from all parts of the industry to gain views and suggestions on how this can work. It would be great to see some local sporting facilities and initiatives getting some extra funding in these difficult financial times.”
Foster will present his findings, along with a possible proposal of new legislation, by the end of the year, with a formal consultation process to follow.
The Department for Culture, Media and Sport, the UK government department tasked with oversight for the UK gambling industry, said customers would still be able to reclaim their money at any time, as long as they were able to prove their right to it.
The review stems from a pledge in the Coalition Agreement to look into the best use of abandoned betting accounts. Work will be done to determine how a betting account can be classed as 'dormant', and to clarify legal ramifications surrounding the potential uses of the money.
John Penrose, UK minister for Tourism and Heritage, who has asked MP Don Foster to compile the report, said. “Every day thousands of people bet on the outcome of sporting events. Therefore it seems a natural fit that funds from abandoned betting accounts should be used to benefit grassroots sports projects.”
Foster added: “I’ll be meeting representatives from all parts of the industry to gain views and suggestions on how this can work. It would be great to see some local sporting facilities and initiatives getting some extra funding in these difficult financial times.”
Foster will present his findings, along with a possible proposal of new legislation, by the end of the year, with a formal consultation process to follow.
The Department for Culture, Media and Sport, the UK government department tasked with oversight for the UK gambling industry, said customers would still be able to reclaim their money at any time, as long as they were able to prove their right to it.
July 28, 2010
Dinamo Zagreb under investigation for match fixing
Croatian Minister of the Interior Tomislav Karamarko on Monday confirmed that the Croatian police were continuing cooperation with their German colleagues in an investigation into the rigging of First Croatian Football Division matches, declining to comment on media reports that Zoran Mamic, sports director of the soccer club Dinamo Zagreb, was under investigation.
"The operation Offside is still in progress and it would not be good to give any comments or prejudge anything. We are cooperating with our German colleagues in the case," Karamarko told reporters.
The media have reported that German prosecutors suspect Mamic of fixing the national cup's first final match between Dinamo and Hajduk last year. The Sportske Novosti paper on Sunday reported that German prosecutors have evidence that Mamic, referees and the-so called betting mob had fixed last year's first final cup match in which Dinamo beat Hajduk 3:0. The report was carried on Monday by almost all domestic media.
Ante Sapina, a Croatian living in Germany, has been linked with this case. Sapina has been involved in several scandals regarding match fixing and he reportedly earned 1.4 million euros on the Dinamo-Hajduk match. The German state prosecutor's office in Bochum, which is investigating match-fixing scandals, today would not either confirm or deny reports in the Croatian media, and the Croatian anti-corruption agency USKOK would not comment either.
Dinamo issued a statement today condemning in the strongest terms illegal betting and match fixing, describing media reports implicating Mamic as dangerous and destructive.
Based on data provided by the German police, the Croatian police last year launched an operation called Offside, arresting 22 sport workers and footballers for fixing matches for personal gain. Three of the alleged organisers of the scam remain in custody.
"The operation Offside is still in progress and it would not be good to give any comments or prejudge anything. We are cooperating with our German colleagues in the case," Karamarko told reporters.
The media have reported that German prosecutors suspect Mamic of fixing the national cup's first final match between Dinamo and Hajduk last year. The Sportske Novosti paper on Sunday reported that German prosecutors have evidence that Mamic, referees and the-so called betting mob had fixed last year's first final cup match in which Dinamo beat Hajduk 3:0. The report was carried on Monday by almost all domestic media.
Ante Sapina, a Croatian living in Germany, has been linked with this case. Sapina has been involved in several scandals regarding match fixing and he reportedly earned 1.4 million euros on the Dinamo-Hajduk match. The German state prosecutor's office in Bochum, which is investigating match-fixing scandals, today would not either confirm or deny reports in the Croatian media, and the Croatian anti-corruption agency USKOK would not comment either.
Dinamo issued a statement today condemning in the strongest terms illegal betting and match fixing, describing media reports implicating Mamic as dangerous and destructive.
Based on data provided by the German police, the Croatian police last year launched an operation called Offside, arresting 22 sport workers and footballers for fixing matches for personal gain. Three of the alleged organisers of the scam remain in custody.
July 22, 2010
Everest joins BetClic as Lyon sponsor
Everest Poker has joined BetClic as shirt sponsor of top-tier French football team Olympique Lyonnais (Lyon).
The Everest Poker logo will appear on the away kit of the French Ligue 1 team, while that of Mangas Gaming-owned BetClic will continue to appear on the strip at home games.
Sandrine Mangia-Park, director of Everest Poker France, said: “By becoming a sponsor of Olympique Lyonnais, we want to associate the sport values of the poker community with those of Lyon's football team: playing the game responsibly and respecting their partners”
The sponsorship represents Everest’s first move into football sponsorship since it was bought by Mangas Gaming last December, as the brand looks to take advantage of the relaxation of advertising restrictions on egaming operators following the re-regulation of the French poker market last month.
Other Mangas Gaming owned operators BetClic, BetAtHome and Expekt have pursued a slew of football sponsorships across Europe in recent years. BetClic also sponsors French champions Marseille, Juventus and no less than 13 Portuguese teams
The Everest Poker logo will appear on the away kit of the French Ligue 1 team, while that of Mangas Gaming-owned BetClic will continue to appear on the strip at home games.
Sandrine Mangia-Park, director of Everest Poker France, said: “By becoming a sponsor of Olympique Lyonnais, we want to associate the sport values of the poker community with those of Lyon's football team: playing the game responsibly and respecting their partners”
The sponsorship represents Everest’s first move into football sponsorship since it was bought by Mangas Gaming last December, as the brand looks to take advantage of the relaxation of advertising restrictions on egaming operators following the re-regulation of the French poker market last month.
Other Mangas Gaming owned operators BetClic, BetAtHome and Expekt have pursued a slew of football sponsorships across Europe in recent years. BetClic also sponsors French champions Marseille, Juventus and no less than 13 Portuguese teams
Bettorlogic’s in-play betting boosts bookmakers
Bettorlogic, the form analyst company backed by Andrew Black and Nigel Payne, said this week that the company’s new in-play betting stimulation product, Livelogic, has increased sportsbook click-through rates during World Cup matches by over 300 per cent.
Livelogic generated around 40 ‘bet prompts’ per match, every five minutes or when a goal was scored, identifying patterns based on what was happening in the match at the time.
The output featured prominently within the homepages of leading bookmakers including the likes of Ladbrokes, Paddy Power, Stan James, Victor Chandler, as well as media group Talksport, with live prices and links to a range of relevant in-play markets.
According to the company, an average click-through rate (CTR) of 1.9 per cent is achieved when using a non-Bettorlogic in-play bet prompt control, while analysis revealed an average Livelogic CTR of 7.7 per cent, with a high of 10.06 per cent during the France v Mexico match.
“This has added to the already sizeable body of research confirming that Livelogic is very effective at encouraging customers to bet in-play,” said Mike Falconer, CEO of Bettorlogic. “We think it's a major innovation in sector and applying these kind of performance increments across 44 football leagues makes it a very powerful proposition indeed.”
Livelogic generated around 40 ‘bet prompts’ per match, every five minutes or when a goal was scored, identifying patterns based on what was happening in the match at the time.
The output featured prominently within the homepages of leading bookmakers including the likes of Ladbrokes, Paddy Power, Stan James, Victor Chandler, as well as media group Talksport, with live prices and links to a range of relevant in-play markets.
According to the company, an average click-through rate (CTR) of 1.9 per cent is achieved when using a non-Bettorlogic in-play bet prompt control, while analysis revealed an average Livelogic CTR of 7.7 per cent, with a high of 10.06 per cent during the France v Mexico match.
“This has added to the already sizeable body of research confirming that Livelogic is very effective at encouraging customers to bet in-play,” said Mike Falconer, CEO of Bettorlogic. “We think it's a major innovation in sector and applying these kind of performance increments across 44 football leagues makes it a very powerful proposition indeed.”
July 19, 2010
William Hill in talks with Malaga FC over sponsorship deal
William Hill is currently in talks with Malaga Football Club, following reports that the operator’s sponsorship deal with the club is to be terminated.
New club owner Sheikh Abdullah Bin Nasser Al-Thani of Qatar was reported by Bloomberg last week as planning to replace William Hill’s shirt sponsorship of Malaga CF, as gambling is against the laws of Islam.
William Hill spokesperson Kate Miller however today refused to confirm reports that the Sheikh planned to replace the bookmaker with another sponsor. “We are aware that there is a new owner of Malaga football club and we are currently in talks. We are still the main sponsor of Malaga FC,” she told EGRMagazine.com.
William Hill’s statement followed Abdullah Ghubn, a business associate of the Sheikh, telling Bloomberg: “We don’t want to turn everything upside down and cancel contracts but let’s put it this way: I’m a smoker but I don’t smoke in my home because these are the rules and I want to protect my family.”
William Hill’s contract with the Spanish La Liga club runs until 2012, potentially raising legal issues if the Sheikh moved to sever the deal prematurely.
Sheikh Abdullah purchased the club in June for €10.5m, which included the club’s €36m debt.
New club owner Sheikh Abdullah Bin Nasser Al-Thani of Qatar was reported by Bloomberg last week as planning to replace William Hill’s shirt sponsorship of Malaga CF, as gambling is against the laws of Islam.
William Hill spokesperson Kate Miller however today refused to confirm reports that the Sheikh planned to replace the bookmaker with another sponsor. “We are aware that there is a new owner of Malaga football club and we are currently in talks. We are still the main sponsor of Malaga FC,” she told EGRMagazine.com.
William Hill’s statement followed Abdullah Ghubn, a business associate of the Sheikh, telling Bloomberg: “We don’t want to turn everything upside down and cancel contracts but let’s put it this way: I’m a smoker but I don’t smoke in my home because these are the rules and I want to protect my family.”
William Hill’s contract with the Spanish La Liga club runs until 2012, potentially raising legal issues if the Sheikh moved to sever the deal prematurely.
Sheikh Abdullah purchased the club in June for €10.5m, which included the club’s €36m debt.
July 14, 2010
888 gets French licence
888 has received a licence from French regulator ARJEL for its joint poker network with Microgaming targeting the French market.
Also licensed by ARJEL was the first operator scheduled to launch on 888 and Microgaming’s new network, La Société Française des Jeux sur Internet (SFJI).
SFJI was established in May of this year by 40 independent land-based casinos in France to launch a poker offering, most likely under the 200pourcentpoker brand.
SFJI is also the first deal for Spiral Solutions France, Spin3 parent company Spiral Solutions’ B2B partnership with land-based casino supplier Santa-Maria Group targeting the French poker market.
888 joins Bwin, PartyGaming, PokerStars, Bwin, BetClic and Everest as major operators now licensed in the re-regulated French market.
Also licensed by ARJEL was the first operator scheduled to launch on 888 and Microgaming’s new network, La Société Française des Jeux sur Internet (SFJI).
SFJI was established in May of this year by 40 independent land-based casinos in France to launch a poker offering, most likely under the 200pourcentpoker brand.
SFJI is also the first deal for Spiral Solutions France, Spin3 parent company Spiral Solutions’ B2B partnership with land-based casino supplier Santa-Maria Group targeting the French poker market.
888 joins Bwin, PartyGaming, PokerStars, Bwin, BetClic and Everest as major operators now licensed in the re-regulated French market.
New Bollywood-themed bingo site shows Indians still gambling online
epresentatives of the JackpotJoy bingo network recently introduced the site BollyBingo.com, an extravagant attempt to appeal to citizens of India both living in the U.K. and on The Subcontinent. After years of scandal and government attempts to control Internet gambling in India, the market just keeps growing.
BollyBingo seeks to target Indians through the film genre, posting trailers and soundtrack clips from the latest Bombay productions – already reportedly to great success with Indian customers living all over the world now playing on the site.
Even after wide-ranging scandals in the national cricket league which were related to illegal gambling rings in the late 1990s/early 2000s, gambling law in India hasn’t budged an inch since the independent formation of the country in 1948.
Controversy even erupted again recently when claims of illegal betting arose during the IPL Twenty20 tournament in April, resulting in the suspension of the league’s president. At that time, the Times of India ran a poll which showed that 74% of respondents favoured online gambling becoming a regulated industry.
Currently, in the whole of India only two states allowed land-based gaming and, under India’s vague laws, online gambling is thought to be against the law but no penalties are provided and no legal moves have ever been made by state authorities against private parties for gambling online.
India’s online gambling market is estimated to be worth over $1 billion per year, all of which goes to foreign-owned website operators. (s)
BollyBingo seeks to target Indians through the film genre, posting trailers and soundtrack clips from the latest Bombay productions – already reportedly to great success with Indian customers living all over the world now playing on the site.
Even after wide-ranging scandals in the national cricket league which were related to illegal gambling rings in the late 1990s/early 2000s, gambling law in India hasn’t budged an inch since the independent formation of the country in 1948.
Controversy even erupted again recently when claims of illegal betting arose during the IPL Twenty20 tournament in April, resulting in the suspension of the league’s president. At that time, the Times of India ran a poll which showed that 74% of respondents favoured online gambling becoming a regulated industry.
Currently, in the whole of India only two states allowed land-based gaming and, under India’s vague laws, online gambling is thought to be against the law but no penalties are provided and no legal moves have ever been made by state authorities against private parties for gambling online.
India’s online gambling market is estimated to be worth over $1 billion per year, all of which goes to foreign-owned website operators. (s)
July 13, 2010
Betfair becomes sponsor of British Athletes Commission
The British Athletes Commission (BAC), an independent organisation representing the interest of athletes in Great Britain, has signed a three-year agreement with online betting exchange Betfair in order to educate and raise awareness about betting related issues in the sport.
The agreement establishes Betfair as the BAC’s first ever official sponsor, and follows a consultation process of elite sport by the BAC. The BAC said that it became apparent that not enough was being done to educate athletes on the potential risks posed by an increase in betting on Olympic and Paralympic sport. The BAC approached Betfair, who agreed to assist practically in addressing the problem.
The two organisations will seek to educate and raise awareness among elite athletes in all Olympic, Paralympic and world class disciplines about betting related issues and the role they can play in preventing corruption in their sports. Betfair will assist the BAC in producing educational materials as well as presenting at its annual conference.
“The BAC is delighted to announce Betfair as its first sponsor, their support will be vital in ensuring athletes receive a key strand in their ongoing education, as Olympic and Paralympic sport becomes ever more professional,” said Pete Gardner, Chief Executive of the BAC.
The BAC acts as the unified voice of all Olympic, Paralympic and world class funded athletes in Great Britain. Before becoming a separate group, the commission was part of the British Olympic Association as the British Olympic Association Athletes Commission.
“At a time when the IOC has just agreed on a series of recommendations for Olympic sport, I am delighted that the BAC will be working with Betfair to educate British athletes across all Olympic, Paralympic and World Class sports in how they can prevent corruption and protect the integrity of sport,” said Karen Pickering, BAC Chair.
David Yu, Chief Executive of Betfair added: “We are delighted to be working with the BAC, a vital step in our on-going efforts to safeguard the integrity of sport. We have seen that there are very few integrity issues when betting on sport is entirely transparent and when sportsmen and women understand the rules in place and penalties for breaking them.
“This partnership gives us a unique opportunity to work together in educating athletes about this issue in the run-up to the 2012 Olympic Games in London.”
The agreement establishes Betfair as the BAC’s first ever official sponsor, and follows a consultation process of elite sport by the BAC. The BAC said that it became apparent that not enough was being done to educate athletes on the potential risks posed by an increase in betting on Olympic and Paralympic sport. The BAC approached Betfair, who agreed to assist practically in addressing the problem.
The two organisations will seek to educate and raise awareness among elite athletes in all Olympic, Paralympic and world class disciplines about betting related issues and the role they can play in preventing corruption in their sports. Betfair will assist the BAC in producing educational materials as well as presenting at its annual conference.
“The BAC is delighted to announce Betfair as its first sponsor, their support will be vital in ensuring athletes receive a key strand in their ongoing education, as Olympic and Paralympic sport becomes ever more professional,” said Pete Gardner, Chief Executive of the BAC.
The BAC acts as the unified voice of all Olympic, Paralympic and world class funded athletes in Great Britain. Before becoming a separate group, the commission was part of the British Olympic Association as the British Olympic Association Athletes Commission.
“At a time when the IOC has just agreed on a series of recommendations for Olympic sport, I am delighted that the BAC will be working with Betfair to educate British athletes across all Olympic, Paralympic and World Class sports in how they can prevent corruption and protect the integrity of sport,” said Karen Pickering, BAC Chair.
David Yu, Chief Executive of Betfair added: “We are delighted to be working with the BAC, a vital step in our on-going efforts to safeguard the integrity of sport. We have seen that there are very few integrity issues when betting on sport is entirely transparent and when sportsmen and women understand the rules in place and penalties for breaking them.
“This partnership gives us a unique opportunity to work together in educating athletes about this issue in the run-up to the 2012 Olympic Games in London.”
July 12, 2010
Betfair's US prospects boosted as NJ Assembly approves exchanges
Betfair's goal of launching in the US has inched closer after the US state of New Jersey’s General Assembly unanimously approved the exchange betting model used by companies such as Betfair and Betdaq.
The approval means by the General Assembly, the junior house in the state's two-house legislature, means the measure to approve exchange betting will now appear before the Wagering, Tourism and Historic Preservation committee of the Senate, the senior house; although both the Senate and Assembly in the north eastern state have now disbanded for the summer recess.
Betfair has sought to position itself in the US ahead of any future move to legalise online sports betting there, sponsoring numerous racing events, acquiring US TV horseracing and online betting business TVG Network for $50m in January 2009, investing in fan community business Watercooler in October 2009 and signing a deal the same month with America’s Breeders’ Cup to allow Betfair customers to bet directly into US tote pools.
The approval means by the General Assembly, the junior house in the state's two-house legislature, means the measure to approve exchange betting will now appear before the Wagering, Tourism and Historic Preservation committee of the Senate, the senior house; although both the Senate and Assembly in the north eastern state have now disbanded for the summer recess.
Betfair has sought to position itself in the US ahead of any future move to legalise online sports betting there, sponsoring numerous racing events, acquiring US TV horseracing and online betting business TVG Network for $50m in January 2009, investing in fan community business Watercooler in October 2009 and signing a deal the same month with America’s Breeders’ Cup to allow Betfair customers to bet directly into US tote pools.
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