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Updates on Cryptologic acquisition

03/30/2012 : CRYPTOLOGIC ACQUISITION LATEST (Update)
 
Amaya gains support from shareholders and extends offer to April 18
 
The acquisition of industry software veteran Cryptologic by the Montreal-based Amaya Gaming may be taking some time, but progress is being made, according to a statement released by the two companies Thursday, which reveals that the offer has been extended again to April 18, and that it is wholly unconditional.
 
Amaya has now advised that by Wednesday it had received valid acceptances which will give the Montreal company control over 11,171,318 shares, representing approximately 80.79 percent of the issued share capital of CryptoLogic.
 
The acceptances are detailed by Amaya as a total of 10,199,689 CryptoLogic shares representing approximately 73.76 percent of the issued share capital of CryptoLogic and approximately 79.34 percent of CryptoLogic shares to which the Offer relates.
 
CryptoLogic Shares in respect of which valid acceptances have been received and which may now be counted towards the acceptance condition include (i) acceptances received in respect of 11,000 CryptoLogic shares (representing approximately 0.08 per cent. of the issued share capital of CryptoLogic) which were subject to irrevocable undertakings received from the CryptoLogic directors and (ii) acceptances received in respect of 2,048,580 CryptoLogic shares (representing approximately 14.82 percent of the issued share capital of CryptoLogic) which were subject to undertakings received from Jemekk Capital Management Inc., Birkenshaw & Company Ltd. and K2 & Associates Investment Management Inc.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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