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Amaya Gaming compliance issue
Friday, May 4,2012 : AMAYA GRAPPLING WITH COMPLIANCE ON CRYPTOLOGIC ACQUISITION (Update)
Company received a NASDAQ Staff Deficiency Letter regarding the composition of its board and audit committee
In the wake of the resignations of Simon Creddy Smith and James Wallace from the Cryptologic board following the company's acquisition by Amaya Gaming, NASDAQ has issued notification that the Company no longer complies with the American stock exchange's audit committee requirements and has 45 calendar days to submit a plan to regain compliance.
NASDAQ Listing Rule 5605(c)(2) requires that the audit committee be composed of at least three independent directors which, following Creddy Smith and Wallace's resignations, now only comprises of one.
The company may also have to tackle another compliance issue as NASDAQ requires the majority of the board directors to be independent, however, executive movements leave the company at present with two independent and two non-independent directors.
Amaya Gaming says it is reviewing its options with respect to regaining compliance.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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