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Sun International Interested in Gaming
Monday May 13,2013 : SUN INTERNATIONAL INTERESTED IN POWERBET GAMING
Online sportsbetting on the agenda for prominent South African hospitality group
South African listed hotel and gaming group Sun International has announced the proposed acquisition of online fixed-odds sports betting operator Powerbet Gaming, which owns and operates Voltbet.com, during its third quarter results report.
The group said it has identified online sportsbetting as a fast growing sector within the gaming industry and sees synergistic opportunities between it and its other terrestrial gaming interests.
"Powerbet provides the ideal platform to accelerate the group’s entry into the online gaming market," said a company statement.
Sun International has proposed the acquisition of 100 percent of Purple Capital’s Gaming Interests’ issued share capital and shareholder loan accounts for a consideration of R30 million in cash (US$3 278 880).
Purple Capital Gaming Interests comprise Powerbet Gaming Limited, the software developed and operated by PBG, the associated licence issued by the Western Cape Racing and Gambling Board and Purple Gaming Limited which holds a bookmaking licence in Tanzania.
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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 -
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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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