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Playtech issues update on Ava Trade
Tuesday December 8,2015 : DID CENTRAL BANK OF IRELAND GET AVA TRADE DECISION WRONG?
Playtech issues update on appeal in respect of Ava Trade Ltd... but it's all water under the bridge now.
Playtech has issued a statement updating the public and investors on its failed bid to acquire CFD firm Ava Trade Limited , detailing the legal moves that followed the Central Bank of Ireland's opposition to the deal.
In its statement, Playtech says that its appeal through the Irish Financial Services Appeals Tribunal against the Central Bank of Ireland's decision is now concluded.
"The appeal was allowed by the Irish Financial Services Appeals Tribunal, with the consent of the CBI, on the grounds of error in the CBI's decision-making process," Playtech explains. "The appeal therefore succeeded. In these circumstances, the matter was remitted to the CBI for reconsideration and a new decision.
"However, although the application was referred back to the CBI for further consideration, as the proposed acquisition of Ava Trade was terminated by the sellers on 23 November 2015, Playtech has withdrawn its application, bringing this process to a conclusion."
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Gambling News :
Unibet Name Changed to Kindred Group plc -
Following an extraordinary general meeting at which shareholders approved the change of the Unibet title and brand to Kindred Group plc, the online gambling group will begin trading under the new name on December 12.
Kenya Betting Control Board Reviewing Changes -
Kenya's booming sports betting sector could be facing stiffer government controls, especially regarding marketing, advertising and promotions, according to local media reports revealing that parliament is studying potential amendments to the Betting, Lotteries & Gaming Act.
Britan To Tighten SpreadBetting Controls -
The UK media reported widely Tuesday that Britain's Financial Conduct Authority has announced a crackdown on spread betting using contracts for difference (CFDs) following FCA research that showed 82 percent of clients had lost money in the sector.
Playtech to Buy Back 50 Milliuon in Shares -
#playtech In a statement, the company said that the decision reflects continued confidence in the growth and prospects of the business and its high cash generation, and revealed that it continues to trade in-line with expectations.
Sentencing in Vietnam Gambling Bust -
The People’s Court in HCM City handed down sentences Monday to dozens of defendants linked to a major online sports betting ring dismantled last year by Vietnamese police.
Gamevy in Deal With Betsson -
#Gamevy says it is partnering with several leading operators to deliver bespoke content that offers a real point of difference to players and increases brand loyalty.
Pkr To Offer Virtual Sports -
#pkr The long established and respected online poker and casino operator PKR.com has followed its switch to Microgaming's MPN network earlier this year and the more recent launch of its live dealer offering with a new Virtual Sports attraction powered by Kiron Interactive.
Boris Becker New PartyPoker ambassador -
#partypoker To celebrate the signing PartyPoker has created a Beat the Ace competition in which players get the opportunity to test their skills and luck in four $5,000 freerolls which started December 5. The overall winner will then get to play Becker heads up live in Germany for up to $25,000.
Snowmania Slot Launches -
Capturing the festive feel in the now chilly northern hemisphere, RealTime Gaming has released its December offering, a 5 reel, 20 pay-lines online slot with a jackpot of 37,500 coins.
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