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LADBROKES TO ACQUIRE BETDAQ
Thursday January 24,2013 : LADBROKES TO ACQUIRE BETDAQ
Euro 30 million understood to be the consideration
After negotiations that began over a year ago as a betting exchange technology supply deal, stock exchange reports early Thursday indicate that online and land gambling group Ladbrokes has clinched a deal to acquire betting exchange Betdaq from Irish multi-millionaire owner Dermot Desmond for Euro 30 million.
Desmond's investment portfolio includes a 2 percent stake in Ladbrokes. The two companies already have a commercial relationship, with Ladbrokes using the betting exchange to hedge bets.
The deal will see parent company Global Betting Exchange Alderney, the operator of the Betdaq exchange business, change hands on a cash free/debt free basis.
Ladbrokes has also agreed to acquire from TBH a 10 percent stake in TBH Guernsey Limited, the technology provider to GBEA, for a further Euro 4 million, with a call option to acquire the remaining shares in TBHG after four years.
The transaction is expected to complete in late February 2013.
It is Ladbroke CEO Richard Glynn's first completed acquisition (there have been several failed attempts) since he took command at Ladbrokes three years ago. He has been under fire from media and analysts for not successfully closing deals in bids for 888, Sportingbet, Centrebet and a putative online collaborative deal with Playtech in the past.
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 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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