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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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Gambling News :

Jack Lam on the Run - "Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei, she said, observing that there was no record of any return to the Philippines since his departure.

Golden Jungle Slot - IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.

Philippines president Orders Arrest of Jack Lam casino magnate - Rodrigo Duterte, the shoot-from-the-hip Philippines president, has intervened in the fast-moving bribery scandal involving his Justice Secretary Vitaliano Aguirre, Pagcor chief Andrea Domingo and Macau-based casino magnate Jack Lam

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

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