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Pursuit Dynamics Buys 3 Gambling Firms
Monday July 15,2013 : PURSUIT DYNAMICS ACQUIRES TRIO OF SOCIAL AND GAMBLING FIRMS
Management team behind Cashcade the driving force
UK-based Pursuit Dynamics PLC has informed the conditional acquisition of Gaming Realms Limited, BeJig Limited and AlchemyBet Limited for a total consideration of around GBP 12.1 million in a reverse takeover deal.
The firm has initiated a placing of 26.2 million shares to raise approximately GBP 3.4 million and the sale is conditional on the disposal of its Pursuit Marine Drive Limited subsidiary as it seeks to eliminate its existing liabilities.
The acquisition rings in a transformation of Pursuit Dynamics PLC's business. The company was previously involved in the development and commercialisation of its PDX platform technology used for applications in waste treatment, public health and safety, bioengineering, brewing and the food and beverages industries.
The company will rename itself Gaming Realms PLC and will act as holding company to:
BingoGodz, an online bingo game playable for real money via mobile, tablet and desktop due to be launched in the third quarter of 2013. BingoGodz's secondary brand is CastleJackpot, a web and mobile based casino product which is based on the same technology as BingoGodz;
Bejig, a developer and operator of multiplayer online social real money games. Its first game, Avatingo, was launched on Facebook in August 2011. Five Star Slots, a virtual currency online casino, is among its latest Facebook releases; and
AlchemyBet, the Sheffield-based developer and operator of mobile slot and casino-themed real money gambling games. Its first brand, Pocket Fruity, was launched in May 2012 and currently has 17 proprietary games.
Gaming Realms PLC will propose the management team behind Cashcade Limited to its board, which was sold to bwin.party digital entertainment in 2009. The nominees include former Cashcade founders Michael Buckley (Executive Chairman), Patrick Southon (Chief Executive Officer) and Simon Collins (Executive Director) as well as Mark Segal (Finance Director).
The Enlarged Group's proposed non-executive directors are Jim Ryan, former Co-CEO of Bwin.party plc, and Mark Wilson, currently a strategic adviser to Sky International.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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