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Posted 3/2/11 : Gamboozle has a subscription business model
Vancouver-based Intelimax, an Internet media services company focusing on online games, social networking and web content, has been raising cash of over $750 000 through loan conversions to shares and taking out new loans at high interest rates this week.
The capital is necessary for the further development and marketing of the firm’s new gaming platform, according to a company statement.
$300 638 in current debt is to be converted into common shares for the debt holders, and the company is taking out a new loan of $450 000 at an interest rate of 15 percent with an investor. More stock worth $450 000 will be sold to two investors in a 24 month subscription agreement.
"We are very excited about the continued development and anticipated launch of our brand new subscription based gaming platform. Our flagship website will offer members a variety of social gaming features to complement our new poker, casino and casual games and tournaments. The closing of this recent financing allows the company to remain on schedule to launch and market our new gaming platform to current and new members," said Glenn Little, President and CEO.
Using its proprietary InteliGaming multi player network, Intelimax offers subscription based gaming on its Gamboozle website.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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