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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.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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