Bwin Stadium the sportsbetting platform from Bwin.party digital has launched a new exclusive real money app for Manchester United which will be fully managed by Bwin.
Richard Arnold, Manchester United Group Managing Director commented on the launch of the app
“The launch of the app is an important milestone in our partnership, and is yet another exciting platform to bring the Club closer to its fans,” he said.”
Sam Sadi, Director of bwin White Labels, said:
“Our aim is to offer sports fans unique gaming experiences anytime, anywhere”.
“Working with the club, we have used our partnership to create something entirely new and standout in our industry that will appeal to both Manchester United fans and casino players looking for superior graphics and gameplay.”
March 17, 2015
Bloomberry to buy south Korean casino resort
Bloomberry Resorts the Philippine gaming compnay said it would be acquiring a South Korean Casino Hotel in its first ever venture overseas. The company said it had purchased 92% of Golden & Luxury Co. Ltd the owning firm on T.H.E Hotel & Vegas Casino on the southern island of Jeju.
T.H.E Hotel & Casino is one of seven casinos located on Jeju island a popular vacation destination for Chinese.
Bloomberry chairman and chief executive Enrique Razon said in a statement. “This is our first venture outside of the Philippines, and the possibilities for expansion in this country are promising.”
Bloomberry owns and operates the $1-billion Solaire Resort and Casino in Manila Bay that the government hopes will rival Macau and Las Vegas. “Solaire is on a trajectory of growth and we are now slightly shifting our focus to other destinations,” said Razon.
T.H.E Hotel & Casino is one of seven casinos located on Jeju island a popular vacation destination for Chinese.
Bloomberry chairman and chief executive Enrique Razon said in a statement. “This is our first venture outside of the Philippines, and the possibilities for expansion in this country are promising.”
Bloomberry owns and operates the $1-billion Solaire Resort and Casino in Manila Bay that the government hopes will rival Macau and Las Vegas. “Solaire is on a trajectory of growth and we are now slightly shifting our focus to other destinations,” said Razon.
Safecharge reports “outstanding” year
Safecharge had an outstanding 2014 said Chairman Roger Withers after the payment services provider announced their first annual report as a public listed company.
Revenues stood at $76.9 million for the year compared to $43.2 million in 2013, representing a rise of 78%. Profits jumped 79% for 2014 to $44.5 million for the year.
The payment services firm said that its cash balances at the end of the year totaled $146.5 million, which represents huge growth on the $11.8 million in 2013.
“It is a privilege to present such an outstanding set of results in our first year as a public company,” Withers said
“I congratulate David Avgi (chief executive officer) and the whole of the SafeCharge team, for an excellent performance during a landmark period for the group.
“We entered the year trading strongly with financial strength to pursue our stated M&A strategy.”
Revenues stood at $76.9 million for the year compared to $43.2 million in 2013, representing a rise of 78%. Profits jumped 79% for 2014 to $44.5 million for the year.
The payment services firm said that its cash balances at the end of the year totaled $146.5 million, which represents huge growth on the $11.8 million in 2013.
“It is a privilege to present such an outstanding set of results in our first year as a public company,” Withers said
“I congratulate David Avgi (chief executive officer) and the whole of the SafeCharge team, for an excellent performance during a landmark period for the group.
“We entered the year trading strongly with financial strength to pursue our stated M&A strategy.”
March 11, 2015
Rome police arrest PokerStars.it managing director over €300 million of undeclared monies that were traced to Malta and the Isle of Man
The managing director of PokerStars, a leading online poker brand, has been accused of fraud and tax evasion of some €300 million by Rome’s finance police on Wednesday.
Investigators analysed the real value of transactions linked to Halfords Media Italy, the Italian branch of the group, and tracked down €300 million of undeclared revenues.
Halfords is a wholly-owned member of the Rational Group which offers online poker to players through two of the world’s leading poker brands, PokerStars and Full Tilt Poker.
In Malta, the Rational Group has several subsidiaries with beneficial ownerships also held in the Isle of Man. Rational was taken over by Canadian firm Amaya Gaming for $4.9 billion. Amaya also holds an Isle of Man subsidiary.
According to the finance police, Halfords hid its taxable income by decreasing the worth of services performed for its parent company Pokerstars and, by so doing, managed to move the taxable income produced in Italy to Malta, and then to the Isle of Man to benefit from a more favourable tax status.
PokerStars.com and PokerStars.eu operate worldwide under licenses from the Isle of Man and Malta governments, respectively.
The tax avoidance scheme is known as transfer pricing, and aims at minimising a company’s tax exposure by moving around revenues and profits to countries with favourable tax systems.
Transfer pricing is one of the most important issues in international tax.
Transfer pricing happens whenever two companies that are part of the same multinational group trade with each other: when a US-based subsidiary of Coca-Cola, for example, buys something from a French-based subsidiary of Coca-Cola. When the parties establish a price for the transaction, this is transfer pricing.
What makes transfer pricing illegal is if the price is manipulated so that costs are brought drastically down so that incur the least amount of tax possible.
Investigators analysed the real value of transactions linked to Halfords Media Italy, the Italian branch of the group, and tracked down €300 million of undeclared revenues.
Halfords is a wholly-owned member of the Rational Group which offers online poker to players through two of the world’s leading poker brands, PokerStars and Full Tilt Poker.
In Malta, the Rational Group has several subsidiaries with beneficial ownerships also held in the Isle of Man. Rational was taken over by Canadian firm Amaya Gaming for $4.9 billion. Amaya also holds an Isle of Man subsidiary.
According to the finance police, Halfords hid its taxable income by decreasing the worth of services performed for its parent company Pokerstars and, by so doing, managed to move the taxable income produced in Italy to Malta, and then to the Isle of Man to benefit from a more favourable tax status.
PokerStars.com and PokerStars.eu operate worldwide under licenses from the Isle of Man and Malta governments, respectively.
The tax avoidance scheme is known as transfer pricing, and aims at minimising a company’s tax exposure by moving around revenues and profits to countries with favourable tax systems.
Transfer pricing is one of the most important issues in international tax.
Transfer pricing happens whenever two companies that are part of the same multinational group trade with each other: when a US-based subsidiary of Coca-Cola, for example, buys something from a French-based subsidiary of Coca-Cola. When the parties establish a price for the transaction, this is transfer pricing.
What makes transfer pricing illegal is if the price is manipulated so that costs are brought drastically down so that incur the least amount of tax possible.
March 04, 2015
Pinnacle Sports outlines strategic vision under new ownership
Pinnacle Sports CEO Paris Smith is excited to take the sports betting operator forward under new ownership, following its sale to undisclosed buyers.
Smith outlined that the new owners of the Curacao licensed sports betting operator had ambitious plans and a strategic visions for its unique business model which has proven a popular destination for high value sports betting consumers.
Last month Pinnacle Sports governance confirmed the sale of its majority stake holdings to undisclosed buyers, through a sale conducted by Las Vegas based M&A firm Alternative Trading Partners (ATP)
Speaking for the first time since the takeover of the new buyers, CEO Paris Smith commented “I am extremely excited about working with our new major shareholder to realise a shared vision for Pinnacle Sports, which includes significant product enhancement and expansion into regulated territories. Though this deal denotes an important change for Pinnacle Sports, our customers should rest assured that the fundamental principles that make the brand so unique will not be compromised.”
Smith concluded that it would be business as usual for the sports betting operator, as senior management looks forward to a successful and positive 2015.
Smith outlined that the new owners of the Curacao licensed sports betting operator had ambitious plans and a strategic visions for its unique business model which has proven a popular destination for high value sports betting consumers.
Last month Pinnacle Sports governance confirmed the sale of its majority stake holdings to undisclosed buyers, through a sale conducted by Las Vegas based M&A firm Alternative Trading Partners (ATP)
Speaking for the first time since the takeover of the new buyers, CEO Paris Smith commented “I am extremely excited about working with our new major shareholder to realise a shared vision for Pinnacle Sports, which includes significant product enhancement and expansion into regulated territories. Though this deal denotes an important change for Pinnacle Sports, our customers should rest assured that the fundamental principles that make the brand so unique will not be compromised.”
Smith concluded that it would be business as usual for the sports betting operator, as senior management looks forward to a successful and positive 2015.
March 03, 2015
Paddy Power to return 392 mln euros to shareholders
Paddy Power Plc will return 392 million euros ($439.28 million) to shareholders after the Irish gambling company said it had failed to identify any compelling acquisitions to spend its cash on following a year of record profit growth.
The decision to hand shareholders back 8 euros a share as well as a 13 percent increase in full year dividends will move the company from a net cash position to one of net debt of around one times earnings before interest, taxes, depreciation and amortization (EBITDA).
Chief Executive Andy McCue, who took over in January after Patrick Kennedy's ten years in charge, will also review its Italian business, which is seeing slower than expected growth.
"We see further opportunities for efficiency by improving our investment discipline and leveraging scale and geographic synergies, which will allow us, crucially, to continue to invest in product and brand," McCue said in a statement on Tuesday.
Paddy Power, which has more than doubled its annual profit since 2009 through overseas expansion and a stronger online performance than its rivals, said its operating profit rose 19 percent to 163.8 million euros last year.
That was slightly ahead of the 162.3 euros forecast by analysts polled by Reuters and like British rival William Hill , represented a year of record profit growth, helped by last year's soccer World Cup -- the industry's largest event.
McCue said 2015 had started well, with sportsbook stakes up 18 percent online and 8 percent year-on-year in shops. ($1 = 0.8924 euros)
The decision to hand shareholders back 8 euros a share as well as a 13 percent increase in full year dividends will move the company from a net cash position to one of net debt of around one times earnings before interest, taxes, depreciation and amortization (EBITDA).
Chief Executive Andy McCue, who took over in January after Patrick Kennedy's ten years in charge, will also review its Italian business, which is seeing slower than expected growth.
"We see further opportunities for efficiency by improving our investment discipline and leveraging scale and geographic synergies, which will allow us, crucially, to continue to invest in product and brand," McCue said in a statement on Tuesday.
Paddy Power, which has more than doubled its annual profit since 2009 through overseas expansion and a stronger online performance than its rivals, said its operating profit rose 19 percent to 163.8 million euros last year.
That was slightly ahead of the 162.3 euros forecast by analysts polled by Reuters and like British rival William Hill , represented a year of record profit growth, helped by last year's soccer World Cup -- the industry's largest event.
McCue said 2015 had started well, with sportsbook stakes up 18 percent online and 8 percent year-on-year in shops. ($1 = 0.8924 euros)
March 02, 2015
GTECH to call itself IGT following acquisition completion
GTECH has announced that following final completion of the purchase of International Game Technology (IGT) which is progressing swiftly say bosses the company will rebrand and call itself IGT.
“The combination of GTECH and IGT brings together two highly complementary legacy businesses to form the true blue chip company in global gaming. Marco Sala, chief executive officer at GTECH, said
“The new name and branding reflect this positioning. In addition, our two companies have similar core values; in fact, our respective names are derived from the same origin.
“Our new logo, marrying the IGT name and the iconic GTECH globe, draws upon the substantial brand equity of our two companies.”
The company also plan new headquarters in the UK along with establishing existing location in Europe and Las Vegas.
“The combination of GTECH and IGT brings together two highly complementary legacy businesses to form the true blue chip company in global gaming. Marco Sala, chief executive officer at GTECH, said
“The new name and branding reflect this positioning. In addition, our two companies have similar core values; in fact, our respective names are derived from the same origin.
“Our new logo, marrying the IGT name and the iconic GTECH globe, draws upon the substantial brand equity of our two companies.”
The company also plan new headquarters in the UK along with establishing existing location in Europe and Las Vegas.
February 23, 2015
Sportingbet rebranded as William Hill in Australia
Bookmaker William Hill will officially launch in the Australian market tomorrow when its Sportingbet.com.au business is rebranded.
Existing Sportingbet clients will be migrated to the global betting giant’s new local website, WilliamHill.com.au. New clients will also be able to sign-up through the site.
William Hill acquired the Sportingbet Australia business, which included Centrebet, in March 2013, and the acquisition of TomWaterhouse.com followed in August 2013. Centrebet and TomWaterhouse.com will also be rebranded as William Hill in due course.
Tom Waterhouse, CEO William Hill Australia, commented:
“This is the exciting first step towards merging three Australian betting brands into one highly regarded, international brand. Placing all of our assets behind one brand will allow us to provide our customers with the best possible wagering experience and more diverse betting opportunities. William Hill has a rich history in betting on racing and sports, and the brand will enable us to leverage decades of global wagering expertise and understanding to help us establish the best possible product for punters in Australia.”
Founded in the UK in 1934, William Hill today employs more than 17,000 staff around the world and has more than 240 employees in Australia.
The company has over 2300 betting shops throughout the UK, and operates businesses in countries including Italy, Spain and the US.
Existing Sportingbet clients will be migrated to the global betting giant’s new local website, WilliamHill.com.au. New clients will also be able to sign-up through the site.
William Hill acquired the Sportingbet Australia business, which included Centrebet, in March 2013, and the acquisition of TomWaterhouse.com followed in August 2013. Centrebet and TomWaterhouse.com will also be rebranded as William Hill in due course.
Tom Waterhouse, CEO William Hill Australia, commented:
“This is the exciting first step towards merging three Australian betting brands into one highly regarded, international brand. Placing all of our assets behind one brand will allow us to provide our customers with the best possible wagering experience and more diverse betting opportunities. William Hill has a rich history in betting on racing and sports, and the brand will enable us to leverage decades of global wagering expertise and understanding to help us establish the best possible product for punters in Australia.”
Founded in the UK in 1934, William Hill today employs more than 17,000 staff around the world and has more than 240 employees in Australia.
The company has over 2300 betting shops throughout the UK, and operates businesses in countries including Italy, Spain and the US.
February 17, 2015
William Hill end takeover talks with 888, bwin.party next?
William Hill has pulled out of talks to acquire 888 Holdings because the UK largest bookie feels the price that 888 were asking for was too high.
The news of the collapsed talks was announced by 888: “Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement on the terms of a possible offer and the Board of the Company has agreed with William Hill to terminate discussions.”
Brian Mattingley, chief executive of 888, said: “The Company is in good health and continues to trade comfortably in line with expectations.”
At first William Hill valued the company at £720 million, at 203p-a-share along with a 3p dividend but it is understood at least one major shareholder believed the online gambling firm was worth significantly more. News of the failed talks drove down 888 shares by 16%.
888 Holdings began life in 1997 by founding brothers Avi and Aaron Shaked, and Shay and Ron Ben-Yitzhak .The two families’ trusts continue control around 60% of the company.
Some observers now believe that William Hill may turn their attention to bwin.party entertainment who are rumoured to be in talks of a takeover back in November of last year, but no new developments have taken place since then.
It is understood William Hill sees the future with consolidation and now with 888 Holdings out it could very well be the turn of bwin.party.
The news of the collapsed talks was announced by 888: “Due to a significant difference of opinion on value with a key stakeholder, it has not been possible to reach agreement on the terms of a possible offer and the Board of the Company has agreed with William Hill to terminate discussions.”
Brian Mattingley, chief executive of 888, said: “The Company is in good health and continues to trade comfortably in line with expectations.”
At first William Hill valued the company at £720 million, at 203p-a-share along with a 3p dividend but it is understood at least one major shareholder believed the online gambling firm was worth significantly more. News of the failed talks drove down 888 shares by 16%.
888 Holdings began life in 1997 by founding brothers Avi and Aaron Shaked, and Shay and Ron Ben-Yitzhak .The two families’ trusts continue control around 60% of the company.
Some observers now believe that William Hill may turn their attention to bwin.party entertainment who are rumoured to be in talks of a takeover back in November of last year, but no new developments have taken place since then.
It is understood William Hill sees the future with consolidation and now with 888 Holdings out it could very well be the turn of bwin.party.
Playtech snap up Yoyo Games
Playtech has announced the acquisition of UK-based Yoyo Games Limited for $16.4 million, Yoyo, which is headquartered in Dundee, is the home of Game Maker: Studio (“GMS”), a mobile driven cross-platform casual game development technology that enables developers to create games using a single programming code and then publish them to run natively across most common platforms, including iOS, Android, OS X, HTML5, PlayStation, Xbox, Ubuntu, Windows 8, Windows Phone 8 and Windows RT. The entire Game Maker family of products has been downloaded more than five million times. GMS enables game developers to create cross-platform games in hours with a user-friendly intuitive platform. Given the simplicity of the platform and its capabilities, GMS has secured more than 750,000 registered games developers who currently use the platform on a freemium basis with chargeable add-ons.
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