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Contagious Gaming To Acquire Sportech
Saturday August 15,2015 : SPORTECH RESPONDS TO MEDIA SPECULATION ON CONTAGIOUS GAMING OFFER (Update)
Board will only recommend acceptance if the offer is at a premium to Sportech's current share price of 62.63p
The Board of Sportech plc has reacted to press speculation around the reported acquisition attempt on the company by Toronto, Canada-based Contagious Gaming
In a statement issued Friday, Sportech's directors confirmed receipt of an offer to buy Sportech from the Canadian listed gaming and software firm, but emphasised they would not recommend to shareholders any offer not at a premium to Sportech's current share price of 62.63p as at 13 August.
The statement reveals that Contagious Gaming's will include a majority of cash, with the balance in new Contagious shares, and in addition Sportech shareholders would also receive approximately half of the net proceeds in the event of a successful VAT repayment claim on the "Spot the Ball" game, with the balance going to the then enlarged Contagious Gaming group.
"The proposal is subject to due diligence, Contagious Gaming raising suitable financing and Contagious Gaming receiving a significant level of support for the proposal from Sportech shareholders," the statement concludes, promising a further announcement when this is appropriate.
In the meantime, Sportech shareholders are advised by the Board to take no action, as there can be no certainty that any formal offer for the company will be forthcoming, nor as to the terms of any such formal offer.
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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