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Synergy Plus Getting into online casinos

Wednesday November 4,2015 :  I.T. RESELLER EYES ONLINE CASINO MARKET
 
Australian online social casino owner VGW Holdings the target.
 
The colourful and at times troubled history of Australian IT re-seller Synergy Plus is about to change again as the company eyes the online casino sector for its future development, according to a report in the publication CRN this week.
 
Just two years after fighting its way out of administration the company has announced that it has agreed to acquire Australian online casino operator VGW Holdings Ltd, which owns the sweepstakes “social online casino” Chumba Casino.
 
Synergy Plus ran into financial difficulties and reportedly owed millions of dollars to creditors in 2011 which necessitated the appointment of administrators. The company later entered into a deed of company arrangement, announcing in 2013 its exit from administration and a new strategy to buy gold and base metal assets and become a shell company, a plan that was later abandoned.
 
VGW Holdings is a four-year-old start-up trading as Virtual Gaming Worlds and claims a player base of 80,000 generating revenue of around A$13 million annually.
 
The company is active on Facebook, with games involving “virtual” currency and cash prize gameplay, and has ambitions of expansion into the online lottery, poker and sports verticals in international markets.
 
The Synergy deal includes a proposal to undergo a capital consolidation as a part of the acquisition and a capital raising of A$5 million, which will be deployed to fund VGW growth in the United States market. VGW founder Laurence Escalante will remain with the company and join the Synergy board.



Gambling News :

Alegriabet Finally Launches - Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports

International Table Tennis Federation in deal with Sportradar. - The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

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