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Javaid Aziz vs. Cryptologic Update

The dispute between online gambling software provider Cryptologic and its erstwhile CEO Javaid Aziz  made it into the pages of the venerable UK business newspaper The Financial Times this week.
 
The newspaper reported on  the events leading up to the latest rejection by Cryptologic of Aziz's demands for an extraordinary general meeting and a presence on the board, and commented that Aziz has been trying to re-establish a foothold to control the company after his departure last year from the CEO position.  

Millionaire CasinoThe report claims that Aziz has been trying to have the Cryptologic group's chairman removed, and that he is campaigning for a change in company strategy.
 
The Financial Times notes that in a sign of the intensifying hostilities between the two parties, CryptoLogic has accused Aziz of “inappropriate conduct” during his brief tenure at the company. Stephen Taylor, chief financial officer, said Aziz made repeated demands for money and threats to sue while he was at the helm.
 
Aziz has dismissed the attack as an attempt to distract shareholders from what he alleges is a problem of corporate governance at the company.
 
The former CEO said he never asked for money and that his grievance was over the strike price of the share options that he was granted. He said they were artificially high and were based on what he believed was a misrepresentation of the company’s financial situation at the time when he was hired – allegations that CryptoLogic denied.
 
CryptoLogic also questioned whether Aziz was fit to join the board and released copies of e-mails he had sent threatening to go public with allegations that the company had been “blatantly lying” about the impact of the Dutch government’s decision not to allow Holland Casino to launch an online gaming site.
 
Earlier this week Cryptologic revealed that it was seeking legal advice with a view to a possible action against Aziz.

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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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