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ASCOT ASSETS SOLD OFF

It's taken over a month, but the Malaysian tycoon Vincent Tan's corporate office has released details of the disposal of its online gambling interests following their abrupt closure on May 9 (see previous InfoPowa report)
 
Working with the Isle of Man Gambling Supervision Commission, Ascot Sports and Ascot e-Casino wound up their affairs but will apparently continue to operate under these brands with new ownership until September 1, when new branding will be introduced.
 
The latest announcement reveals that the Malaysian parent company Ascot Sports Sdn. Bhd. has sold off Ascot Sports Philippines, Inc. (Ascot Sports.com) to 9 Technologies Sdn. Bhd. (previously Extremely Good Sdn. Bhd.). This is a fast-growing new sports technology company located in The Gardens, Mid Valley which was last heard of developing a large scale "Online Transactional Processing for Asia" infrastructure in Malaysia.
 
Ascot Sports (BVI) Limited (presumably the e-casino) has been acquired by El Moro Finance Limited, a British Virgin Isles company  with a registered address at Pasea Estate,  Road Town, Tortola, B.V.I.
 
The consideration agreed for the acquisitions, which were finalised on June 11 2008, was not disclosed.
 
Garth Kimber, the head of e-gaming at the Isle of Man government Department of Trade and Industry, told InfoPowa last month that the shutdowns were a commercial business decision by the owners, and that the closure had been carried out in consultation with the Isle of Man licensing authority, ensuring that player funds were returned to the players as part of an orderly withdrawal from the industry.
 
"At present there are no major identifiable problems with the process. The Gambling Commission will continue to liaise with the company and monitor the situation," he said at the time.
 
Tan apparently ran into political hassles in 2006 despite paying 25 years in advance for a Malaysian licence three years earlier. A change in politicial leadership brought the problem about, and Tan changed his focus to the online gambling industry through an Isle of Man licence.
 
The AscotSports.com website, together with its information portal AscotSportal.com, was finally launched a few months prior to the Fifa World Cup 2006 tournament, with a call centre in the Philippines, and the company subsequently expanded its services by launching a 4-digit number lottery product online. The Ascot e-Casino was also launched in 2007, targeting the Chinese-speaking market in Asia.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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