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Satoshi Dice Sold For 11.5 Million in Bitcoins

Friday July 19,2013 : BITCOIN CURRENCY ONLINE CASINO SOLD FOR $11.5 MILLION
 
Satoshi Dice transaction appropriately conducted in Bitcoins
 
The first major acquisition of an online gambling company accepting the Bitcoin virtual currency has taken place, with online casino firm SatoshiDice sold to an undisclosed buyer for 126,315  Bitcoins, or about $11.5 million, reports the publication TNW.
 
The buyer of the betting company, which was launched in April 2012 and reportedly has revenues above $50,000 a month, has not yet been disclosed.
 
The site features a simple 'lucky dice game'; internet punters send Bitcoins to the site and pick a number. ‘The Ghost of Satoshi’ rolls a lucky number and those who selected a number that is lower than the one on the dice win.
 
TechWeek reports that to date, the site has seen more than 5.3 million bets placed and has paid out more than 3.9 million wins. The company says winnings are dispatched within 30 seconds, while it charges a small transaction fee on each bet.
 
Listed on the Romanian MPEX Bitcoin exchange, SatoshiDice is based in Panama and Dublin, where founder Erik Voorhees this week revealed that the acquisition deal represents a 277 percent premium on its sale price and a 175 percent premium on the company’s valuation according to MPEX.
 
Addressing shareholders this week, Voorhees said:
 
"While I know some S.DICE owners intended to hold for a long time, and will thus be dismayed by the buyout, it is my sincere hope that this compensation level will be amenable. It is substantially higher than the contract mandates, and it is almost 3x higher than all private owners are being paid. It has not been easy to negotiate to this level, but I believe it is the right thing to do.
 
"The deal is the first significant buy-out of a Bitcoin industry company and highlights the potential revenues and money that is circling around the industry."
 
Satoshi blocked US players in May following what it described as "coercive threats" by government, motivating it to protect the interests of its shareholders in a proactive manner.
 
US authorities have taken a closer interest in Bitcoin this year, including an investigation into Tokyo-based Mt. Gox, the world’s largest Bitcoin exchange. Officials seized Dwolla’s payments to and from the service in May for conducting “unlicensed money transmitting”.
 
Mt. Gox reopened its US dollar trading service on July 4 following a two-week suspension in which it made changes to its service to allow it to cater for increased demand. The company did not say if the temporary shutdown was ordered by the US government or was the result of an investigation.



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MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and €27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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