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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.
Danske Spil Bingo Moves to Microgaming -
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Quickfire live on Strendus -
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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 Microgamingís 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 Sundayís 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 Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
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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