No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Hydra Industries Acquires
INSPIRED GAMING ACQUIRED BY NEW YORK PRIVATE EQUITY COMPANY
Hydra Industries Acquisition Corp. inks acquisition agreement for gambling provider.
A New York private equity company specialising in mergers and acquisitions, Hydra Industries Acquisition Corp., has announced that it has signed an agreement to acquire UK online gambling provider Inspired Gaming Group for a consideration of GBP 200 million.
Based on the current USD/GBP exchange rate the equivalent transaction value is $264 million. Inspireds fiscal year end September 2016 Revenue and EBITDA are estimated to be $110 million and $38 million, respectively, with the potential to grow meaningfully, driven by a backlog of recurring revenue contracts.
The consideration paid to the sellers for their interests will consist of cash available at closing after transaction expenses, and Hydra common shares issued at a price of $10 per share. The sellers may receive additional common shares as further consideration, depending on future performance.
The cash component of the transaction will be funded by a $20 million private placement from Macquarie Capital in addition to Hydras cash in trust, which is currently approximately $80 million.
Assuming none of Hydras shares are redeemed for cash in trust, the sellers would retain 35 percent ownership at closing.
Certain liabilities of Inspired, including existing credit facilities, are expected to remain in place at closing.
Upon consummation of the transaction, Hydras CEO (and former Scientific Games executive) Lorne Weil will become executive chairman while Inspireds founder and current CEO Luke Alvarez will continue in his leadership role in addition to being appointed to the board of directors.
In a statement announcing the deal, Weil commented:
"We have been searching for a compelling business that utilizes our skill set to drive growth. We are excited to have the opportunity to partner with Luke and his team as we work together to grow the digital business through increased focus and the deployment of new technology and content.
"We look forward to not only growing Inspireds business, but also using it as a platform for potential opportunistic acquisitions of synergistic businesses across a number of geographies. We believe the combination of Inspireds management team and our experience in utilizing technology and content to drive revenue growth in gaming markets makes us well-positioned to enhance value for our shareholders."
Luke Alvarez added, "We are excited to be partnering with Lorne Weil and Hydra, while continuing our strong relationship with Vitruvian. Lornes history in the gaming industry and Hydras access to the public capital markets are the perfect combination to take Inspired to the next level. Our ambition with Inspired has always been to build a truly scaled and global leader in gaming technology, which we believe is transitioning rapidly to an all-digital environment."
The proposed transaction has been unanimously approved by the boards of directors of both Hydra and Inspired, and is expected to close in October 2016, subject to approval by Hydras shareholders, required regulatory approvals and other customary closing conditions.
Immediately after the closing, Hydra intends to change its name to Inspired Entertainment, Inc. and will continue to trade on Nasdaq under the ticker INSE.
Limited time offer for all our Readers. All Countries. A brand new No Deposit Bonus. No Max Cashout. Claim It Here.
Gambling News :
2017 MPN Poker Tour -
Main Event packages, worth €1,500, are available online and players can qualify via any of the MPN participating card rooms through a variety of satellites, with buy-ins starting as low as €0.25. Each €1,500 package includes:
Realistic Games in deal with Kindred Group -
The UK-based online gambling games developer Realistic Games has signed a deal to supply its games to online operator Kindred Group, parent company of quality brands that include Unibet, Stan James and Maria Casino.
DFS banning bill Introduced in Illinois -
The legislative season in Illinois may be drawing to a close, but that hasn't stopped a new bid to ban daily fantasy sports from being assigned to the House Executive Committee; whether there is sufficient time to pass the bill is a matter for speculation.
Cambodia To More Closely Control Online Gambling -
Cambodia, where online #gambling is operated by licensed land casinos alone, and Cambodian punters are banned from participating, is to tighten monitoring, control and management of the activity by setting up a centralized server, a Ministry of the Economy official revealed this week in a media interview.
Ninja Power Slot Launched By Slotland -
I think our players will be inspired by the ninja warrior characters the game designers have created,” said Slotland manager Michael Hilary. “These warriors fought hard, gave it all they had. Quitting wasn’t an option.
WILL JACK LAM RETURN TO THE PHILIPPINES TO TURN HIMSELF IN? -
The Philippines online gambling and bribery scandal keeps throwing up new developments almost daily, with the latest a report that Macau-based online gambling tycoon - the man at the centre of the furore - has put out tentative "surrender" feelers.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.