Italian state regulator, L’Amministrazione Autonoma dei Monopoli di Stato (AAMS) has released its annual report which shows clearly the serious decline in online poker revenue. From a high of €41m in January, gaming revenues have fallen 43% to just over €23m.
Tournament revenues are down almost 75% since regulation was first introduced having disintegrated from a high in January 2011 of €35.3m to an August 2012 low of €9.1m.
Cash games, which were first introduced just over 15 months ago and initially proved a boom for the market, are down 41% in the last year.
Italy’s poker problems can be put down to two inter-related issues: high gaming taxes and low player liquidity. The tax levy is the highest in Europe, which substantially increases the entertainment cost for recreational players and make the games an unviable source of income for professionals.
Additionally, the player pool is restricted to Italian citizens only. The artificial restriction means tournament prize pools are naturally lower, and a narrower selection of games run, which attracts fewer recreational players and, in turn, fewer serious players.
Recent discussion between Spanish and Italian regulators may result in a joint player pool at some stage next year. The discussions do at least point to the regulators being aware of the problem. Discussions with its French counterpart also continue, although ARJEL recently played down the possibility of shared liquidity between the two countries.
Italy’s experience with taxing and regulating online poker demonstrates more clearly than any rational argument that poker is different from other forms of online gambling and needs to be taxed and regulated accordingly.
Unfortunately the solution to the problem is political. In this time of austerity the probability of getting the political support necessary to cut online poker taxes and abandon the state monopoly is fairly low. The future of online poker in Italy is far from bright.
October 08, 2012
October 05, 2012
British Horseracing Authority charges 9, including jockey and 3 soccer players, over fixing
The British Horseracing Authority has charged a jockey and eight others, including three soccer players, with race fixing.
The charges follow an investigation into suspicious betting, focusing on wagers that horses would lose between November 2010 and March 2011.
Jockey Andrew Heffernan, who is licensed to ride in Australia, has been charged with five corruption offenses, including offering to receive or receiving a bribe and “intentionally failed to ensure that a horse ridden by him was run on its merits.”
Among the eight other people charged is Ipswich striker Michael Chopra, who is accused of offering a bribe to Heffernan and conspiring to “commit a corrupt or fraudulent practice by placing bets.”
Nottingham Forest midfielder James Coppinger and former Manchester United player Mark Wilson also have been charged.
The charges follow an investigation into suspicious betting, focusing on wagers that horses would lose between November 2010 and March 2011.
Jockey Andrew Heffernan, who is licensed to ride in Australia, has been charged with five corruption offenses, including offering to receive or receiving a bribe and “intentionally failed to ensure that a horse ridden by him was run on its merits.”
Among the eight other people charged is Ipswich striker Michael Chopra, who is accused of offering a bribe to Heffernan and conspiring to “commit a corrupt or fraudulent practice by placing bets.”
Nottingham Forest midfielder James Coppinger and former Manchester United player Mark Wilson also have been charged.
October 04, 2012
Stoichkov to Be Questioned over Match-Fixing Statements
Bulgarian authorities are to question former Barcelona striker Hristo Stoichkov regarding his recent criticism of betting related match-fixing in the country, according to a local media report.
Stoichkov is to be questioned in Bulgaria's Chief Directorate for Combatting Organized Crime on Thursday, local media have revealed.
The authorities want the legendary Barcelona forward to shed more light on his statements that the Bulgarian state and the Bulgarian Football Union have failed to stop the illegal activities going on in the country's football championship.
Recently, Stoichkov, who is currently coaching the team of Litex Lovech, called upon Interior Minister Tsvetan Tsvetanov to deal with betting related match-fixing, suggesting that Tsvetanov may have been "afraid" to tackle the issue.
"I'm personally not afraid to speak, I'm not afraid of anything," Stoichkov declared earlier in September.
He further stated that several teams have been involved in match-fixing.
According to the Sega daily, Stoichkov will be also questioned regarding the May 12 game in which Litex smashed relegation favorites Kavarna 5:0. It is still unclear whether it is among the 16 games in the Bulgarian championship that UEFA considers suspicious.
At the end of August, a BBC investigation revealed that Bulgaria's football is deeply involved in mafia businesses, with match-fixing and money laundering being just the tip of a criminal iceberg that lurks beneath the surface of the game.
The BBC investigation was triggered by continuing reports that football in Bulgaria is riddled with corrupt practices including match-fixing and the illegal procurement of European Union passports for overseas players.
Stoichkov is to be questioned in Bulgaria's Chief Directorate for Combatting Organized Crime on Thursday, local media have revealed.
The authorities want the legendary Barcelona forward to shed more light on his statements that the Bulgarian state and the Bulgarian Football Union have failed to stop the illegal activities going on in the country's football championship.
Recently, Stoichkov, who is currently coaching the team of Litex Lovech, called upon Interior Minister Tsvetan Tsvetanov to deal with betting related match-fixing, suggesting that Tsvetanov may have been "afraid" to tackle the issue.
"I'm personally not afraid to speak, I'm not afraid of anything," Stoichkov declared earlier in September.
He further stated that several teams have been involved in match-fixing.
According to the Sega daily, Stoichkov will be also questioned regarding the May 12 game in which Litex smashed relegation favorites Kavarna 5:0. It is still unclear whether it is among the 16 games in the Bulgarian championship that UEFA considers suspicious.
At the end of August, a BBC investigation revealed that Bulgaria's football is deeply involved in mafia businesses, with match-fixing and money laundering being just the tip of a criminal iceberg that lurks beneath the surface of the game.
The BBC investigation was triggered by continuing reports that football in Bulgaria is riddled with corrupt practices including match-fixing and the illegal procurement of European Union passports for overseas players.
October 03, 2012
Legal complaints could impact OPAP value, says RGA
The Remote Gambling Association has alerted banks handling the sale of OPAP to three legal complaints that could affect the monopoly’s future value, as the lobby group maintains pressure on Greece to open its online sports betting market.
In the letter to Deutsche Bank and the National Bank of Greece, the world’s largest online gambling trade association provided details of three outstanding complaints against OPAP’s monopoly, two lodged with the EC and another with the Greek Council of State, “that could have a material effect on the future value of OPAP”.
Greece’s privatisation agency HRADF forged ahead with the sale process for its 33% stake in OPAP last week, despite a key legal advisor to Europe’s highest court casting doubts on the sustainability of OPAP’s monopoly and analysts projecting that a 30% tax on gross revenue and 10% on winnings on all of OPAP’s operations from 2013, introduced under pressure from the EC, could wipe up to €280m off annual profit.
The RGA’s letter has been sent on behalf of its members, which include bet365, Betfair, bwin.party, Paddy Power, Sportingbet, Unibet and William Hill, many of which have been impacted by Greece’s law and regulations designed to protect the position of its betting monopoly.
Chief executive Clive Hawkswood said that while Greece had been pressurised by the EC into withdrawing OPAP’s preferential tax treatment on its land-based operations, there were other issues that had yet to be resolved, not least the Greek state’s intention to extend OPAP’s sports betting monopoly online.
“[I]t is only right that we brought these to the attention of Deutsche Bank to ensure that they are properly reflected in the sale process”, said Hawkswood. He said that the RGA’s position may change if the online sports betting market was fully opened and all potential stakeholders were taxed and treated equally. “[T]he Greek Government, online betting customers and gambling operators will [then] benefit from a fair and competitive market that operates in compliance with EU rules.”
The RGA’s first complaint to the EC competition directorate concerns the retrospective taxes applied to EU-licensed operators since last August, when Greece passed its online gaming act. The RGA complaint argues that the tax regime amounts to a potential form of State Aid as it exempts the OPAP-controlled land-based sector in Greece.
The RGA has also submitted a joint complaint with its continental counterpart the European Gaming and Betting Association (EGBA) to the EC’s Internal Market and Services Directorate. This submits that OPAP’s offline sports betting monopoly is an unjustified obstacle to free trade within the EU, while also potentially being awarded the online sports betting monopoly.
Finally, the RGA has petitioned the Greek Council of State on the basis that the retrospective tax regime for online operators represents an unconstitutional restriction on the right to conduct a business activity in Greece. The case is set to be heard in December.
In the letter to Deutsche Bank and the National Bank of Greece, the world’s largest online gambling trade association provided details of three outstanding complaints against OPAP’s monopoly, two lodged with the EC and another with the Greek Council of State, “that could have a material effect on the future value of OPAP”.
Greece’s privatisation agency HRADF forged ahead with the sale process for its 33% stake in OPAP last week, despite a key legal advisor to Europe’s highest court casting doubts on the sustainability of OPAP’s monopoly and analysts projecting that a 30% tax on gross revenue and 10% on winnings on all of OPAP’s operations from 2013, introduced under pressure from the EC, could wipe up to €280m off annual profit.
The RGA’s letter has been sent on behalf of its members, which include bet365, Betfair, bwin.party, Paddy Power, Sportingbet, Unibet and William Hill, many of which have been impacted by Greece’s law and regulations designed to protect the position of its betting monopoly.
Chief executive Clive Hawkswood said that while Greece had been pressurised by the EC into withdrawing OPAP’s preferential tax treatment on its land-based operations, there were other issues that had yet to be resolved, not least the Greek state’s intention to extend OPAP’s sports betting monopoly online.
“[I]t is only right that we brought these to the attention of Deutsche Bank to ensure that they are properly reflected in the sale process”, said Hawkswood. He said that the RGA’s position may change if the online sports betting market was fully opened and all potential stakeholders were taxed and treated equally. “[T]he Greek Government, online betting customers and gambling operators will [then] benefit from a fair and competitive market that operates in compliance with EU rules.”
The RGA’s first complaint to the EC competition directorate concerns the retrospective taxes applied to EU-licensed operators since last August, when Greece passed its online gaming act. The RGA complaint argues that the tax regime amounts to a potential form of State Aid as it exempts the OPAP-controlled land-based sector in Greece.
The RGA has also submitted a joint complaint with its continental counterpart the European Gaming and Betting Association (EGBA) to the EC’s Internal Market and Services Directorate. This submits that OPAP’s offline sports betting monopoly is an unjustified obstacle to free trade within the EU, while also potentially being awarded the online sports betting monopoly.
Finally, the RGA has petitioned the Greek Council of State on the basis that the retrospective tax regime for online operators represents an unconstitutional restriction on the right to conduct a business activity in Greece. The case is set to be heard in December.
Sportingbet Slips to Loss in FY on One-Time Charges
London-based Sportingbet Plc, an online sports betting and gaming company, on Friday fell steeply into loss for the full year in contrast to a profit last year. The outcome reflected one-time items like Spanish tax settlements, property, plant impairment costs and costs pertaining to its Turkey market exit, among others.
For the full year, the company reported a pre-tax loss of 45.4 million pounds compared with a profit of 20.7 million pounds last year, while revealing a total loss of 52.3 million pounds from a profit of 21 million pounds in 2011. The company witnessed a sharp rise in charges pertaining to exceptional items that rose to 71.6 million pounds from 10.8 million pounds last year.
On a per share basis, the company reported a loss of 6.8 pence in 2012 compared with profit of 3.9 pence in 2011. However, on an adjusted basis, the company reported a profit of 5.3 pence per share in 2012.
Total revenue for the year also declined to 195.9 million pounds from 206.3 million pounds last year, with net gaming revenue slumping to 185.7 million pounds from 204 million pounds in the prior year.
Further, the company said its Board had proposed a final dividend of 1.1 pence, totaling a full year figure of 1.7 pence. The dividend may be paid on January 17, 2013 to ordinary shareholders on the record as of December 21, 2012.
"We are confident that the increased advertising opportunities, improved payment processing and stable business platform provided by our regulated market presence will drive profitable growth in the medium term. Whilst the economic outlook remains challenging, our robust position across a variety of attractive territories gives us confidence in the outlook for the current financial year," stated Andrew McIver, Group, Chief Executive.
The shares are currently trading at 51.45 pence, down 1.55 pence or 2.92 percent on the London Stock Exchange.
For the full year, the company reported a pre-tax loss of 45.4 million pounds compared with a profit of 20.7 million pounds last year, while revealing a total loss of 52.3 million pounds from a profit of 21 million pounds in 2011. The company witnessed a sharp rise in charges pertaining to exceptional items that rose to 71.6 million pounds from 10.8 million pounds last year.
On a per share basis, the company reported a loss of 6.8 pence in 2012 compared with profit of 3.9 pence in 2011. However, on an adjusted basis, the company reported a profit of 5.3 pence per share in 2012.
Total revenue for the year also declined to 195.9 million pounds from 206.3 million pounds last year, with net gaming revenue slumping to 185.7 million pounds from 204 million pounds in the prior year.
Further, the company said its Board had proposed a final dividend of 1.1 pence, totaling a full year figure of 1.7 pence. The dividend may be paid on January 17, 2013 to ordinary shareholders on the record as of December 21, 2012.
"We are confident that the increased advertising opportunities, improved payment processing and stable business platform provided by our regulated market presence will drive profitable growth in the medium term. Whilst the economic outlook remains challenging, our robust position across a variety of attractive territories gives us confidence in the outlook for the current financial year," stated Andrew McIver, Group, Chief Executive.
The shares are currently trading at 51.45 pence, down 1.55 pence or 2.92 percent on the London Stock Exchange.
French sport star Nikola Karabatic held over match-fixing
French police have detained double Olympic gold medal winner Nikola Karabatic and several other players in connection with allegations of match-fixing and illegal betting in French handball.
At least seven players in the French league were placed under formal arrest, a source close to the investigation said, without naming the players.
A police source said eight players for Montpellier, including Karabatic and his brother, Luka, two players for Paris Saint-Germain formerly with Montpellier, a member of staff for Montpellier and a player's girlfriend had been detained for questioning in the probe.
Five of the Montpellier players, including Nikola Karabatic, Tunisian Wissem Hmam, Frenchman Mickael Robin, and Slovenians Dragan Gajic and Primoz Prost, were put into police cars and driven away in a convoy, an AFP journalist at the scene said.
The team's physiotherapist, Yann Montiege, also left with police.
The convoy was later seen arriving at the offices of the interior ministry's racing and gaming division in the Paris suburb of Nanterre.
The players were questioned in their dressing rooms at the Pierre de Coubertin stadium in Paris immediately following a match between Montpellier and Paris Saint-Germain, a source close to the players said.
An AFP journalist at the stadium earlier saw plainclothes police showing badges to guards to enter the stadium.
Three people were detained for questioning in Montpellier on Sunday on suspicion of placing illegal bets, a source close to the investigation said.
Karabatic, 28, is considered one of the greatest players of the game and won gold medals with the French team at this year's London Olympics and the 2008 Games in Beijing.
The French professional handball scene was thrown into turmoil on Wednesday after an investigation was ramped up into giants Montpellier over alleged match-fixing and illegal betting.
The south coast club has dominated French handball for 15 years, and officials were quick to protest the innocence of their players.
Suspicions were raised over a match that Montpellier lost 31-28 to Cesson-Sevigne on May 12. At the time, Montpellier were assured of a 13th league title in 15 seasons while the Breton club sat in eighth position.
Betting firm La Francaise des Jeux (FDJ) reported abnormal betting patterns up to five times greater than expected and suspended bets during the match.
Large bets reportedly came in at half-time on a loss for Montpellier, for whom the Karabatic brothers, Mladen Bojinovic, Vid Kavticnik and Samuel Honrubia were not playing because of injury.
France 3 television reported that police had discovered that wives or girlfriends of players and club members had placed bets in three betting shops in the Paris region, the western region of Brittany, and around Montpellier.
At least seven players in the French league were placed under formal arrest, a source close to the investigation said, without naming the players.
Five of the Montpellier players, including Nikola Karabatic, Tunisian Wissem Hmam, Frenchman Mickael Robin, and Slovenians Dragan Gajic and Primoz Prost, were put into police cars and driven away in a convoy, an AFP journalist at the scene said.
The team's physiotherapist, Yann Montiege, also left with police.
The convoy was later seen arriving at the offices of the interior ministry's racing and gaming division in the Paris suburb of Nanterre.
The players were questioned in their dressing rooms at the Pierre de Coubertin stadium in Paris immediately following a match between Montpellier and Paris Saint-Germain, a source close to the players said.
An AFP journalist at the stadium earlier saw plainclothes police showing badges to guards to enter the stadium.
Three people were detained for questioning in Montpellier on Sunday on suspicion of placing illegal bets, a source close to the investigation said.
Karabatic, 28, is considered one of the greatest players of the game and won gold medals with the French team at this year's London Olympics and the 2008 Games in Beijing.
The French professional handball scene was thrown into turmoil on Wednesday after an investigation was ramped up into giants Montpellier over alleged match-fixing and illegal betting.
The south coast club has dominated French handball for 15 years, and officials were quick to protest the innocence of their players.
Suspicions were raised over a match that Montpellier lost 31-28 to Cesson-Sevigne on May 12. At the time, Montpellier were assured of a 13th league title in 15 seasons while the Breton club sat in eighth position.
Betting firm La Francaise des Jeux (FDJ) reported abnormal betting patterns up to five times greater than expected and suspended bets during the match.
Large bets reportedly came in at half-time on a loss for Montpellier, for whom the Karabatic brothers, Mladen Bojinovic, Vid Kavticnik and Samuel Honrubia were not playing because of injury.
France 3 television reported that police had discovered that wives or girlfriends of players and club members had placed bets in three betting shops in the Paris region, the western region of Brittany, and around Montpellier.
October 02, 2012
Sportingbet pressures William Hill to up bid
Online gambling firm Sportingbet Plc said a 350 million pound offer approach by bookmaker William Hill and GVC Holdings "significantly undervalues" it, but left the door open for a higher bid.
It had received a takeover approach at 52.5 pence per share, consisting of 45 pence in cash from William Hill and 7.5 pence in shares in smaller online betting firm GVC, Sportingbet said on Monday.
"The board of Sportingbet has responded that this indicative offer significantly undervalues the business and its future prospects," it said.
However, it did not say it was rejecting the offer outright.
The statement followed speculation in the weekend press that the board had received a letter containing the joint bid approach, which it had unanimously turned down.
Analysts expect the bidders to come back with a higher offer.
"We believe Sportingbet is worth over 60 pence per share, excluding any bid speculation, and expect Wednesday's full year results to show the business continues to make strong underlying progress," said Panmure Gordon analysts on Monday.
Sportingbet is forecast to report pre-tax profits of around 30 million pounds on sales of 200 million on Wednesday, according to Thomson Reuters I/B/E/S estimates.
Sportingbet has seen its European operations struggle with the economic downturn and a changing regulatory map, but has a strong core Australian business that is attractive to traditional bookmaker William Hill as it expands overseas.
Numis said shareholders should hold out for 90 pence per share, citing the business growth potential and saying it was a chance for the bidder to snap up a bargain while trading was at a low point.
Shares have risen from a low of 26 pence in May to 44 pence just before the approach was announced last month, and have been trading at around the offer level since then.
The bidders have until October 16 to make a firm bid or walk away under UK takeover rules, although this deadline can be extended.
Sportingbet and William Hill both declined to comment further.
It had received a takeover approach at 52.5 pence per share, consisting of 45 pence in cash from William Hill and 7.5 pence in shares in smaller online betting firm GVC, Sportingbet said on Monday.
"The board of Sportingbet has responded that this indicative offer significantly undervalues the business and its future prospects," it said.
However, it did not say it was rejecting the offer outright.
The statement followed speculation in the weekend press that the board had received a letter containing the joint bid approach, which it had unanimously turned down.
Analysts expect the bidders to come back with a higher offer.
"We believe Sportingbet is worth over 60 pence per share, excluding any bid speculation, and expect Wednesday's full year results to show the business continues to make strong underlying progress," said Panmure Gordon analysts on Monday.
Sportingbet is forecast to report pre-tax profits of around 30 million pounds on sales of 200 million on Wednesday, according to Thomson Reuters I/B/E/S estimates.
Sportingbet has seen its European operations struggle with the economic downturn and a changing regulatory map, but has a strong core Australian business that is attractive to traditional bookmaker William Hill as it expands overseas.
Numis said shareholders should hold out for 90 pence per share, citing the business growth potential and saying it was a chance for the bidder to snap up a bargain while trading was at a low point.
Shares have risen from a low of 26 pence in May to 44 pence just before the approach was announced last month, and have been trading at around the offer level since then.
The bidders have until October 16 to make a firm bid or walk away under UK takeover rules, although this deadline can be extended.
Sportingbet and William Hill both declined to comment further.
October 01, 2012
William Hill consider raising offer for Sportingbet
William Hill & GVC Holdings, is expected to raise its price after we reported earlier that Sportingbet had rejected a £350m approach. (see previous report)
The joint venture offerer a 52.5p a share bid to Sportingbet by letter, which was unanimously rejected by the Sportingbet board.
The £350m bid would have seen William Hill put up 45p a share in cash while Sportingbet investors would have received the remainder in GVC paper.
William Hill would not comment on the reports, but it is believed that Ralph Topping, William Hill’s CEO, and GVC boss Kenny Alexander will agree to raise the stakes before a Takeover Panel deadline on October 16.
Analysts expect the two joint bidders will have to offer more than 60p a share, even though the online bookie’s share price has not gone north of 52.25p since William Hill and GVC announced on September 19 that they were in exclusive talks about making a joint approach. A 60p a share bid would value Sportingbet at £400m.
William Hill is after Sportingbet’s Australian business, which accounts for 90pc of its profits.
GVC, which last year bought Sportingbet’s Turkish business for €142.5m (£113m), would take on the more politically sensitive, unregulated operations.
Sportingbet’s advisers at Lazard are trying to drum up interest among other operators in the sector, such as Ladbrokes, to spark off a bidding war.
But many analysts believe a rival approach is unlikely given that few others will want to take on Sportingbet’s unregulated assets.
The joint venture offerer a 52.5p a share bid to Sportingbet by letter, which was unanimously rejected by the Sportingbet board.
The £350m bid would have seen William Hill put up 45p a share in cash while Sportingbet investors would have received the remainder in GVC paper.
William Hill would not comment on the reports, but it is believed that Ralph Topping, William Hill’s CEO, and GVC boss Kenny Alexander will agree to raise the stakes before a Takeover Panel deadline on October 16.
Analysts expect the two joint bidders will have to offer more than 60p a share, even though the online bookie’s share price has not gone north of 52.25p since William Hill and GVC announced on September 19 that they were in exclusive talks about making a joint approach. A 60p a share bid would value Sportingbet at £400m.
William Hill is after Sportingbet’s Australian business, which accounts for 90pc of its profits.
GVC, which last year bought Sportingbet’s Turkish business for €142.5m (£113m), would take on the more politically sensitive, unregulated operations.
Sportingbet’s advisers at Lazard are trying to drum up interest among other operators in the sector, such as Ladbrokes, to spark off a bidding war.
But many analysts believe a rival approach is unlikely given that few others will want to take on Sportingbet’s unregulated assets.
Arsenal Lotto to support Arsenal Foundation
Arsenal Football Club is delighted to announce the launch of the Arsenal Lotto which will give Arsenal supporters the chance to win life-changing prize money twice a week and support The Arsenal Foundation in the process.
The Arsenal Lotto, the first of its kind in UK football, is set to be the biggest and most exciting fundraising initiative which allows fans over 18 to take part, win big cash prizes and make a difference at the same time.
The recently launched Arsenal Foundation, a grant making charity which transforms the lives of young people through sport and education initiatives, is set to benefit from all proceeds the Club receives from fans participating in the Arsenal Lotto.
To play the Arsenal Lotto, supporters will be invited to select six numbers online via www.arsenallotto.co.uk plus a ‘legend’ number from 0-9 to play this lotto the Arsenal way. Bets cost £1 per line and average jackpots of £4.7m with rollovers of up to £36m can be won.
The Arsenal Lotto draws take place every Wednesday around 6pm and every Saturday between 7pm and 10pm. Six numbers (the main numbers) are drawn, along with an additional bonus number plus the “Legend” number. The first draw for Arsenal Lotto players takes place on Saturday 29th September, the day Arsenal take on Chelsea at Emirates Stadium. Supporters can play online from Thursday 27th September to be in with a chance of winning.
Arsenal Football Club CEO and trustee of The Arsenal Foundation, Ivan Gazidis said: “We have been looking for ways to engage fans even more in the good work the Club does in its community and its charitable projects. Whilst some may wish to volunteer or participate in fundraising events, others may look for a more simple way to engage and raise money. The Arsenal Lotto gives them this option.”
Egidio Messito, CEO at MyLotto24 which powers the Arsenal Lotto said: “This launch is a game-changer for any organisation wishing to harness the power of lottery. Most important of all, thousands of young people will benefit from projects The Arsenal Foundation funds.”
The Arsenal Lotto, the first of its kind in UK football, is set to be the biggest and most exciting fundraising initiative which allows fans over 18 to take part, win big cash prizes and make a difference at the same time.
The recently launched Arsenal Foundation, a grant making charity which transforms the lives of young people through sport and education initiatives, is set to benefit from all proceeds the Club receives from fans participating in the Arsenal Lotto.
To play the Arsenal Lotto, supporters will be invited to select six numbers online via www.arsenallotto.co.uk plus a ‘legend’ number from 0-9 to play this lotto the Arsenal way. Bets cost £1 per line and average jackpots of £4.7m with rollovers of up to £36m can be won.
The Arsenal Lotto draws take place every Wednesday around 6pm and every Saturday between 7pm and 10pm. Six numbers (the main numbers) are drawn, along with an additional bonus number plus the “Legend” number. The first draw for Arsenal Lotto players takes place on Saturday 29th September, the day Arsenal take on Chelsea at Emirates Stadium. Supporters can play online from Thursday 27th September to be in with a chance of winning.
Arsenal Football Club CEO and trustee of The Arsenal Foundation, Ivan Gazidis said: “We have been looking for ways to engage fans even more in the good work the Club does in its community and its charitable projects. Whilst some may wish to volunteer or participate in fundraising events, others may look for a more simple way to engage and raise money. The Arsenal Lotto gives them this option.”
Egidio Messito, CEO at MyLotto24 which powers the Arsenal Lotto said: “This launch is a game-changer for any organisation wishing to harness the power of lottery. Most important of all, thousands of young people will benefit from projects The Arsenal Foundation funds.”
bwin.party sells Ongame for an initial €15m
bwin.party has agreed to sell Ongame poker network to Canada’s Amaya Gaming Group for an initial consideration of €15m, with an additional amount of up to €10m becoming payable if regulated online gaming is introduced in the United States within five years.
The sale is subject to conditions including regulatory approvals and is expected to complete during the fourth quarter of 2012, at which time the management of Ongame will transfer with the business to Amaya.
Amaya will pay bwin.party €15m in cash upon completion, with up to a further €10m payable if regulated online gaming is introduced in the US within five years. The exact amount of the contingent consideration will depend on the extent of regulation in the United States based upon the number of states that regulate and the total population covered.
The terms of the sale are similar to those agreed between bwin.party and Shufflemaster before the latter withdrew from the deal, however, the overall consideration is now 15 per cent lower than that previously agreed with Shufflemaster.
bwin.party co-CEO Jim Ryan commented: “The sale of Ongame conforms to our strategy, especially as we move closer to launching our single, proprietary technology platform in the next few months. We believe Ongame will fit well into Amaya Gaming and has an excellent future ahead.”
“The acquisition of Ongame bolsters Amaya Gaming’s product portfolio, transforming Amaya into a leading provider of gaming platforms,” added Amaya CEO David Baazov. “Amaya looks forward to unleashing Ongame’s technology to its full potential through the leveraging of our many B2B relationships and delivering new partners and players to the network.”
Amaya said the acquisition of Ongame would position it to participate in the US market should the government decide to regulate online poker, while at the same time strengthening it's B2B interactive product portfolio.
The sale is subject to conditions including regulatory approvals and is expected to complete during the fourth quarter of 2012, at which time the management of Ongame will transfer with the business to Amaya.
Amaya will pay bwin.party €15m in cash upon completion, with up to a further €10m payable if regulated online gaming is introduced in the US within five years. The exact amount of the contingent consideration will depend on the extent of regulation in the United States based upon the number of states that regulate and the total population covered.
The terms of the sale are similar to those agreed between bwin.party and Shufflemaster before the latter withdrew from the deal, however, the overall consideration is now 15 per cent lower than that previously agreed with Shufflemaster.
bwin.party co-CEO Jim Ryan commented: “The sale of Ongame conforms to our strategy, especially as we move closer to launching our single, proprietary technology platform in the next few months. We believe Ongame will fit well into Amaya Gaming and has an excellent future ahead.”
“The acquisition of Ongame bolsters Amaya Gaming’s product portfolio, transforming Amaya into a leading provider of gaming platforms,” added Amaya CEO David Baazov. “Amaya looks forward to unleashing Ongame’s technology to its full potential through the leveraging of our many B2B relationships and delivering new partners and players to the network.”
Amaya said the acquisition of Ongame would position it to participate in the US market should the government decide to regulate online poker, while at the same time strengthening it's B2B interactive product portfolio.
Subscribe to:
Posts (Atom)