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Shufflemaster clarifies decision to withdraw from acquisition

Thursday June 28,2012 : SHOCK WITHDRAWAL FROM ONGAME SALE BY SHUFFLE MASTER (Update)
 
Shufflemaster clarifies decision to withdraw from acquisition
 
The collapse of Shuffle Master's acquisition deal of Bwin.party Digital Entertainment's Ongame Network Ltd caught many in the industry by surprise today (Wednesday).
 
The deal announced in March for a Euro 19.5 million consideration ended following a terse statement posted on bwin.party's investor website this morning.
 
Shuffle Master Inc’s chief executive officer, Gavin Isaacs provided more insight into the withdrawal through a statement saying : "It has become evident to us that Ongame's operations post-acquisition will not achieve the near-term results we initially expected and will require a larger ongoing investment than anticipated."
 
"Although we are disappointed in the outcome, after thorough due diligence we believe this is the right thing to do for our Company and our shareholders. We will continue to pursue opportunities to achieve our growth objectives in the online space, including leveraging and protecting our strong intellectual property and brands, and will investigate all prospects – both organic and acquisitive – that make strategic and financial sense," Isaacs added.
 
The company said it would continue to invest in its own content platform while considering other options for providing a B2B online poker product consistent with its other online offerings from web, social and mobile applications.



Gambling News :

Michael Myers is back in Halloween Slot Machine - Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.

Joe Fortune new Rewards Program - Once you sign up, you’re automatically enrolled in the rewards program – and that’s when the epic journey begins. You’ll start earning Adventure Miles immediately, and can embark on the quest of a lifetime: To get paid to play, which stays true to the rewards program’s slogan, ‘Play More Get More’.

Day 1a MPN Poker Tour Tallinn Main Event - Day 1a brought 106 entries into the €550 Main Event, with nearly as many players turning out for the last €35 super satellite into tomorrow’s Day 1b

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

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