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Favourit Global Looking to Raise A$6 million

Wednesday March 16,2016 :  AUSSIE ONLINE GAMBLING GROUP SEEKS MORE CAPITAL
 
Favourit online sports betting and casino enterprise launches A$6 million ASX listing through a reverse takeover.
 
The Australian online gambling company Favourit Global has launched a public offer through a reverse takeover of Australian Stock Exchange-listed Celsius Coal in a bid to raise up to A$6 million.
 
The proceeds from the offer will be used to continue building the company's online sports betting and casino operations, which since launch in 2014 have expanded to the UK and Europe through licensing obtained in Britain, Ireland, Malta and Curacao.
 
The company's marketing focuses mainly on younger, socially savvy internet and mobile punters, and has developed its own unique platform, although the online casino offers games from Microgaming and NetEnt.
 
In 2014 the independent assessment of Global Betting and Gaming Consultancy was that the UK online gambling market alone was worth Euro 10.3 billion a year, and continues to grow driven by the increased adoption of mobile platforms - a key growth target for Favourit given the company's focus on younger socially savvy punters.
 
The funds raised will be utilised for marketing and customer acquisition in order to grow Favourit's international business; the company claims that its proprietary platform has demonstrated strong growth on key operating metrics since its UK launch.
 
On relisting, Celsius Coal will be renamed Favourit Ltd under the guidance of an experienced board of business executives and technical/gaming specialists:
 
Chairman Martin Dalgleish has more than 30 years of executive, director and chairman experience working with leading global brands including PBL, Optus, IBM, Dixons, PepsiCo and the Rank Group, and has served on the boards of Foxtel, Fox Sports, PBL Media, Ticketek, Ninemsn, Hoyts Group, Carsales, Seek and Betfair Australia.
 
Founder and managing director Toby Simmons has management experience in digital companies over 8 years, and was a core part of the team responsible for the initial concept at incubation stage of Favourit.
 
Non-executive director Dennis Verrios has been involved in information technology, media and gaming businesses for over 25 years. Dennis was the CEO of Agility Interactive where Favourit was originally conceived and developed before being acquired by the current entity in a management buyout.
 
Celsius Coal has released a prospectus for a public offer of up to 30 million Shares at an issue price of $0.20 per share to raise up to A$6 million with a minimum subscription of A$4 million.



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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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