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ANTI-ONLINE GAMBLING INVESTOR BUYS INTO BWIN.PARTY
Wednesday February 19,2014 : ANTI-ONLINE GAMBLING INVESTOR BUYS INTO BWIN.PARTY
If the name Ader is familiar...think IGT.
In an interesting industry development this week a familiar name - Jason Ader - cropped up in the purchase of a 6.1 percent stake in online gambling group Bwin.Party Digital Entertainment.
Our readers who recall the at times distasteful public wrangling over seats on the board of IGT last year will be aware that one of the leading critics of CEO Patti Hirst...and for that matter a strong protagonist against online gambling...was Jason Ader of Ader Investment Management.
Ader appeared to feel that Hirst should be focusing on IGT's core business and eschewing social and online gambling, but it seems that his views have changed following a deal with Cumberland Associates which saw the birth of a US investment vehicle titled SpringOwl.
SpringOwl is the hedge fund investor that has putatively bought a 6.1 percent share in Bwin Party from founders Ruth Parasol Deleon and James Russell Deleon... and can claim a seat on the board.
Ader is also a member of the board of Sheldon Adelson's Las Vegas Sands Corporation, opening the door for any number of theories regarding his intentions.
Bwin.Party has been struggling in recent years due at least in part to a policy of disengagement with unregulated markets, and deciding to screw over affiliates by changing agreements after they were signed
Gambling News :
NHL Odds: Lightning go for Season Sweep Over Red Wings -
The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.
MPN Charity Poker Tournament at ICE 2017 -
During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
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