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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 :

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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