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 :
Update on Anti Online Gambling bill S.3376 -
More detail is emerging on Senate bill S.3376 and its author, Senator Tom Cotton, indicating that Cotton has in the past (2015) signed as a sponsor for Sheldon Adelsons Restoration of Americas Wire Act and opposes the legalisation of online gambling in the United States.
Anti Gambling bill S. 3376 -
#s3376 Industry observers were taken by surprise late Friday when a little-known Republican Senator from Arkansas, Tom Cotton, filed the beginnings of a new bill in the US Senate Committee on the Judiciary in what appears to be a move to toughen the US legal stance on the Unlawful Internet Gaming Enforcement Act of 2006 and possibly the 1961 Wire Act.
2016 WPT Borgata Main Event Results -
@MrJesseJames888 Four years ago the poker world watched as Jesse Sylvia and Greg Merson fought it out in the heads up of the World Series of Poker main event, with Sylvia narrowly defeated but taking home a second placing pay check for $5,292,889.
G-Sports debuts with the game Road Redemption -
#esports Land, online and mobile gambling publisher Gamblit Gaming has debuted in the burgeoning eSports sector, unveiling its new eSports platform branded G-Sports with the hit PC and console game Road Redemption.
French licensed gambling operators lost $5M in 2015 -
#france Numbers released by the French online gambling regulator ARJEL have illustrated the continued folly of a ring-fenced and restricted online gambling market saddled with a harsh and operator-unfriendly tax regime.
NO PRIVATISATION FOR ONTARIO LOTTERY -
The privatisation of the Ontario provincial lottery will not go ahead despite proposals by major companies like IGT-GTech, Scientific Games and Rogers Communications submitted in response to the provincial government’s 2014 Request for Proposals.
Space Invaders wins Best Slot Product Award -
The growing emphasis on skill-based slot machines that are more appealing to the millennial demographic has seen Scientific Games awarded a Best Slot accolade for its Space Invaders game at the 2016 Gaming and Technology Awards.
NEW MARKETING CAMPAIGN FROM LADBROKES -
The Ladbrokes land and online gambling group has launched its latest marketing campaign, with the first television advertisements ready to screen this Saturday.
Gamesys acquires Snowcat Games -
London online gambling provider Gamesys has announced the acquisition of Estonian online gambling games developer Snowcat Games for an undisclosed consideration, noting that the deal will strengthen its development capabilities.
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.