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Bwin in deal with Gioco Digitale
9/7/09 - Vienna-listed online gambling group Bwin has scored a major coup and some formidable positioning in the Italian market following an agreement to acquire the Italian group Gioco Digitale. With hopes high for an imminent and positive regulatory system in Italy the agreement is especially valuable and significant.
Closely held Gioco boasts it is Italy's first independent online gaming site and offers mainly poker, betting and skill games, but there is clearly good potential for expansion into other genres under the Bwin banner.
A timeframe for the takeover has yet to published, and the terms of the deal have not been disclosed, although some idea of value can be deduced from a report in the Italian newspaper Finanza & Mercati, which said said last week that an investor had bought 10 percent of Gioco for more than Euros 2 million. This fits with previous estimates of around Euro 90 to 100 million.
Industry observers say that the burgeoning Italian market is ripe for the sor of consolidation tha the Bwin deal represents. Gibraltar-based Party Gaming recently acquired an online poker operator, while 888 has said it is close to buying an as yet unidentified asset.
A recently passed law due to be enacted this autumn, means that poker cash games and other games of chance will be permitted in Italy in addition to sports betting and online poker tournaments, raising the profile of the market.
According to the Bwin announcement, the boards of both companies and its shareholders have agreed on principle terms for the acquisition of 100 percent of Gioco Digitale, but did state that although the acquisition was progressing, there could be no certainty that a final binding agreement on the transaction will be reached.
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 -
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