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Celsius Coal to acquire Favourit Global
Wednesday November 4,2015 : CELSIUS COAL AND FAVOURIT SIGN ACQUISITION AGREEMENT
Mining firm to rebrand as Favourit Limited.
Australian stock exchange-listed resource mining developer Celsius Coal Ltd has signed a heads of agreement (HOA) for the acquisition of Favourit Global Pty Ltd, saying Favourit’s social sports betting platform demonstrates potential for strong growth.
The unusual departure from the original nature of its business will require Celsius embark on a re-compliance process regarding the ASX’s admission requirements.
Celsius Coal will ultimately issue Favourit shareholders 57 million fully paid ordinary shares in Celsius at a deemed price of A$0.20 as consideration for the acquisition.
On completion of the deal, Celsius will change its name to Favourit Limited and undergo a Board change.
Current Favourit chief executive officer Gary Harris will be named Chairman of the Board while co-founder and former chief executive officer Toby Simmons, director Richard Kuo and non-executive director Dennis Verrios will serve as directors.
InfoPowa readers will recall Gary Harris being appointed chief executive officer by the social sports betting group early in September (see previous InfoPowa reports). Harris previously served as IT director and a board member for Sportingbet Australia Group between 2004 and 2013 where he was responsible for technology development and operations, growing online turnover from A$10 million to over A$2.4 billion.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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