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LADBROKES TO USE SPORTECH POOL PRODUCTS
New agreement could be the forerunner of other deals
Sportech CEO Ian Penrose has announced an agreement with the UK online and land betting group Ladbrokes, which will distribute its pool products through the internet to the Ladbrokes’ database. Penrose noted that the deal could be the forerunner of others as Sportech seeks to increase player liquidity, hoping to close at least another two agreements before the end of 2010.
“We are looking to increase our liquidity and there are two ways we can do that, either with a B2C strategy or by selling-on our white labelled football products for a set commission and a share of revenues,” he said, adding that such deals would add value to online gambling operations.
Penrose was commenting in a statment on the company's first half 2010 financial results, in which Sportech reported a drop in adjusted profit before tax, down from GBP 6.9 million in 2009 H1 to GBP 5.8 million for the first half of 2010.
The group succeeded in raising GBP 29.2 million in equity funding and reduced net bank debt by 35 percent to GBP 51.7 million over the period.
The statement advised that "above average" visitor numbers had been recorded in the past two months of its Indian online operations, with 45 000 people registering to play. Sportech is involved in the region in a joint sports betting venture with Indian operator PlayWin (see previous InfoPowa reports) in which the partners each invested GBP 2 million.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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