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888 OUTLINES PLANS FOR BWIN.PARTY ACQUISITION

Saturday July 18,2015 :  888 OUTLINES PLANS FOR BWIN.PARTY ACQUISITION
 
Bigger is better, say 888 execs.
 
Bigger is better was the message 888 Holdings execs gave to media and analysts following the announcement that the company's GBP 898 million offer to buy a controlling interest in Bwin.Party Digital Entertainment had been  accepted
 
CEO Brian Mattingley told Reuters that size and res ources enabled companies to better exploit opportunities and weather business storms, whilst chief operating officer Itai Freiberger said that there was minimal overlap in the core activities of the two groups, and outlined some of 888's possible plans for the future.
 
Freiberger told analysts that Bwin's sports betting business and experience would provide more impetus and create savings for 888's own nascent sports betting enterprise, which currently partners with Kambi Sports Solutions. That business-to-business relationship may ultimately be discontinued, but in a measured and controlled manner, he suggested.
 
Despite the technological and brand differences, the deal should also create a poker powerhouse, with 888's successful record in the segment and Bwin.Party's long history and profile in the vertical through PartyPoker. Freiberger indicated there are no immediate plans to tinker with existing and effective brands.
 
The long term strategy for Bwin's b2b gaming technology business will be dependent on how successful the operation continues to be. It will be rebranded Studios, with a view to ultimately listing the company as a successful and thriving enterprise.
 
Both Bwin.Party and 888 have a presence in the important US market, and that will be fully leveraged under 888 control.
 
The current Bwin.Party CEO, Norbert Teufelberger, will reportedly step down, but he will be retained on a consultancy basis once the deal has been completed.
 
888's statement on the acquisition revealed that combined revenue of the two groups last year would have been about $1.1 billion, and that the agreement will deliver significant annual cost savings of around $70 million by end-2018.
 
The deal should boost 888’s earnings in the first year after completion, excluding one-time costs, the company said.
 
Most analysts appear to agree, with a consensus that the combined group is likely to be highly cash generative, and good for shareholders.
 
Bwin.Party shareholders will own about 48.9 percent of the merged entity.

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Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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