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BERJAYA BACKS OUT OF ASCOT SPORTS DEAL
6/28/10 - A quick reaction to the Malaysian government’s retreat on sports gambling
Friday’s announcement by Malaysian prime minister Prime Minister Najib Razak that sports gambling will not be licensed in the country triggered a quick reaction from the Berjaya company, which has just announced that it will not be proceeding with its deal to acquire 70 percent of Ascot Sports, a gambling firm that stood to benefit from a change in gambling laws.
Berjaya had conditionally agreed to pay Ascot Sports owner Vincent Tan 525 million Malaysian ringgit ($161.6 million) for a controlling share in the company on the understanding that it had been granted a sports betting licence..
"Berjaya Corp deeply regrets and is extremely disappointed that its intended purchase...has been frustrated due to the government's decision not to re-issue the sports betting licence to Ascot Sports," the firm commented in a statement, adding that it will also abandon a proposed rights issue intended to raise 614.5 million ringgit and venture abroad to expand its sports betting business.
Tan also reportedly controls Berjaya Corp and Berjaya Sports Toto , one of three sports forecast operators in the country.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgaming’s customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sunday’s 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at –115.
Fair Play Bets and QuickFire in Deal -
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Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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