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Riot Games Buys Ten Cent

Thursday December 24,2015 : MAJOR CHINESE INTERNET COMPANY BUYS E-SPORTS GAME DEVELOPER
 
Ten Cent boosts its majority shareholding in Riot Games to full ownership.
 
Riot Games, developer of the League of Legends multiplayer game that has taken the eSports world by storm, is now a wholly owned subsidiary of billion-dollar Chinese Internet company Ten Cent.
 
In February 2011 Ten Cent bought a majority shareholding in the company, which it has now augmented to take full ownership and control.
 
Approached by the publication TechCrunch for comment, Ten Cent issued the following statement:
 
"We confirm that we recently purchased the remaining equity of Riot. We owned around 93 percent of Riot prior to this recent purchase."
 
TechCrunch reports that the majority stake bought back in 2011 was for a consideration of over $350 million, according to a Wall Street Journal report back then. Ten Cent continued to invest in building its stake in the company, leading to the current transaction and assumption of full ownership for an unknown sum.
 
Ten Cent’s other gaming deals include investments in Activision Blizzard, Korea’s 4:33 Creative Lab, Glu Mobile, and Epic Games.
 
US-based Riot Games was founded in 2006
 
In a statement earlier this year Riot Games management said that major changes are planned for the company's product in 2016, inspired mainly by the success of League of Legends in the eSports sector.

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Gambling News :

Spinomenal Appoints Eduardo Tupper as COO - Israeli software developer, Spinomenal, has appointed former chief operating officer of Ortiz Gaming, Eduardo Tupper, as Senior Vice President.

Ninja Power Slot Launched By Slotland - I think our players will be inspired by the ninja warrior characters the game designers have created,” said Slotland manager Michael Hilary. “These warriors fought hard, gave it all they had. Quitting wasn’t an option.

WILL JACK LAM RETURN TO THE PHILIPPINES TO TURN HIMSELF IN? - The Philippines online gambling and bribery scandal keeps throwing up new developments almost daily, with the latest a report that Macau-based online gambling tycoon - the man at the centre of the furore - has put out tentative "surrender" feelers.

Stephen Conroy appointed head of new responsible gambling grou - Conroy retired from politics in September after a 20 year career, and has now been appointed head of Responsible Wagering Australia, a new responsible gambling industry body backed by online gambling operators CrownBet, Sportsbet, Betfair, Unibet and Bet365.

SquwaKa To Enter sports betting sector - Football digital content platform SquwaKa will be entering the sports betting sector with the launch of a new FSB Technology built and powered sports betting service to sit alongside its fantasy sports offer.

Softswiss in game deal with Booming Games - Platform and white label provider SoftSwiss has launched a portfolio of 50 plus Booming Games titles following a partnership deal announced this week.

RaceBets Acquired by Betsson - Niche operator #RaceBets complements #Betsson offering with a proprietary horse racing product and an experienced horse betting trading team.

Playtech buys back 780,000 shares - Playtech's advisory earlier this week that it is to embark on a Euro 50 million share re-purchase initiative has been quickly followed by a notification from the company that it has bought an initial tranche of 780,000 shares at prices ranging between 797.75 and 816.63.

Cash In Roulette - The relatively new online gambling games developer Be The House, has announced that it is to launch its unique Cash In Roulette product with William Hill Online.

EveryMatrix in game deal with Endorphina - #EveryMatrix Prague-based online slot developer Endorphina has found a new outlet for its games, signing a content supply agreement with white label provider EveryMatrix.

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