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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
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Gambling News :
Tain Fast Bet -
Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.
Olympic Entertainment Group Mobile Gaming -
In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.
Circus Evolution HD Slot -
Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.
17 Crown people still detained -
Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on
SB1400 Virginia Poker Skill Game Bill -
Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.
Pennsylvania Video Gaming Association -
With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.
Stiffer Problem Gambling Penalties in UK -
The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.
Spartan Poker vs SpartanPoker name War -
Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.
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