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William Hill acquires Grand Parade Limited
WILLIAM HILL ACQUIRES SOFTWARE DEVELOPER
Ramps up scale of development team.
William Hill PLC has acquired betting and gaming digital solutions firm Grand Parade Limited for a GBP 13.6 million consideration in cash and shares.
Established in 2007, Grand Parade develops apps, websites and e-commerce platforms for the sports betting, gaming and media industries. 200 developers and creatives are housed in Grand Parade’s offices situated in Bermondsey, London, Krakow, Poland and New York.
"Bringing the Grand Parade team into William Hill will rapidly ramp up the scale of our development team by backfilling existing resource gaps and also enhance our creative capabilities,” commented Philip Bowcock, Interim chief executive officer of William Hill.
“This enables us to capitalise on the potential of our Trafalgar front-end platform by accelerating our product development and also to support the work with OpenBet to build our new back-end platform."
Under the terms of the acquisition and as partial consideration, William Hill will issue 495,048 new Ordinary Shares of 10p each to Grand Parade which will rank pari passu with the existing ordinary shares of the Company.
The company said applications have been made for these shares to be admitted to the London Stock Exchange and anticipates trading to commence August 5th 2016.
Grand Parade lists some of its high profile clients within the industry as 32Red, bwin, Sportech, betway, Coral, Ladbrokes and Betfair.
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.
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