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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 :

Update on Anti Online Gambling bill S.3376 - More detail is emerging on Senate bill S.3376 and its author, Senator Tom Cotton, indicating that Cotton has in the past (2015) signed as a sponsor for Sheldon Adelsons Restoration of Americas Wire Act and opposes the legalisation of online gambling in the United States.

Anti Gambling bill S. 3376 - #s3376 Industry observers were taken by surprise late Friday when a little-known Republican Senator from Arkansas, Tom Cotton, filed the beginnings of a new bill in the US Senate Committee on the Judiciary in what appears to be a move to toughen the US legal stance on the Unlawful Internet Gaming Enforcement Act of 2006 and possibly the 1961 Wire Act.

2016 WPT Borgata Main Event Results - @MrJesseJames888 Four years ago the poker world watched as Jesse Sylvia and Greg Merson fought it out in the heads up of the World Series of Poker main event, with Sylvia narrowly defeated but taking home a second placing pay check for $5,292,889.

G-Sports debuts with the game Road Redemption - #esports Land, online and mobile gambling publisher Gamblit Gaming has debuted in the burgeoning eSports sector, unveiling its new eSports platform branded G-Sports with the hit PC and console game Road Redemption.

French licensed gambling operators lost $5M in 2015 - #france Numbers released by the French online gambling regulator ARJEL have illustrated the continued folly of a ring-fenced and restricted online gambling market saddled with a harsh and operator-unfriendly tax regime.

NO PRIVATISATION FOR ONTARIO LOTTERY - The privatisation of the Ontario provincial lottery will not go ahead despite proposals by major companies like IGT-GTech, Scientific Games and Rogers Communications submitted in response to the provincial government’s 2014 Request for Proposals.

Space Invaders wins Best Slot Product Award - The growing emphasis on skill-based slot machines that are more appealing to the millennial demographic has seen Scientific Games awarded a Best Slot accolade for its Space Invaders game at the 2016 Gaming and Technology Awards.

Loss Recovery Act has again been defeated in a class action lawsuit - #gameofwar Illinois notorious Loss Recovery Act has again been defeated in a class action lawsuit...this one emanating from in-game activity on a mobile social gaming video game.

NEW MARKETING CAMPAIGN FROM LADBROKES - The Ladbrokes land and online gambling group has launched its latest marketing campaign, with the first television advertisements ready to screen this Saturday.

Gamesys acquires Snowcat Games - London online gambling provider Gamesys has announced the acquisition of Estonian online gambling games developer Snowcat Games for an undisclosed consideration, noting that the deal will strengthen its development capabilities.

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