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Bwin Taking Flak From New Investors
Thursday April 10,2014 : BWIN MANAGEMENT TAKES FLAK FROM NEW INVESTOR
Outspoken Ader makes a few suggestions after disappointing results.
Bwin.Party Digital Entertainment's latest disappointing results have prompted 6.1 percent US shareholder Jason Ader to suggest that CEO Norbert Teufelberger should assemble a more competent management team.
Ader, famed for his abrasive attacks on management in a dispute over IGT board positions last year only recently acquired his shareholding through SpringOwl, but has been quick to criticise the continued lacklustre performance of the company and its share price.
In a comment to the Telegraph newspaper this week SpringOwl voiced a number of concerns that included the appointment of Phillip Yea as chairman; the generous bonus awards paid recently to senior management despite the weak performance of the company; ineffective cost-cutting; and the alarming 40 percent decline in the share price flowing from poor business decisions.
The statement questioned whether the choices and decisions made by the Bwin.Party board are "...in line with the goal of restoring shareholder value.”
Ader contrasted Bwin.Party's performance with that of rivals like 888, which have performed well over the same period.
Bwin.Party management seem to have gone into laager mode on Ader's offer to sit down for a confidential discussion on how the ship might be righted, which has allegedly been rebuffed.
Teufelberger will no doubt be hearing a lot more from the notoriously aggressive and tenacious Ader, whose SpringOwl shareholding entitles him to select a director for a seat on the board, an option he has yet to exercise pending an assessment of other directors.
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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