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Need for new blood on the Bwin.Party board

Sunday May 11,2014 :  BWIN ACTIVIST INVESTOR GETS A BOOST (Update)
 
Investment advisers support the need for new blood on the Bwin.Party board.
 
Two investment advisory firms have voiced support for suggestions by an activist investor that the board of Bwin.Party Digital Entertainment needs an infusion of new blood and thought.
 
The proposal the election of four new directors to the board comes from Jason Ader's SpringOwl investment company, which holds a 5.2 percent stake in the online betting giant, and has been agitating for change as the company battles with underperformance and a share price that has declined alarmingly.
 
The current management at Bwin has been fighting off Ader's interference; urging shareholders not to support his bid to vote in four new directors at the company's agm later this month
 
Investment advisory firm Glass Lews & Company said Friday that the Ader faction had made a compelling case for board level change in its proposals to address poor shareholder returns.
 
The company seems unimpressed with the counter-arguments so far put forward by Bwin management against the proposals, and by the generous executive remuneration packages recently awarded to top managers despite the weak performance of the company.
 
Similar views were expressed by ISS, which said that after reviewing the arguments put forward by both sides, it felt that SpringOwl had established that changes at board level were desirable
 
Taking advantage of the boost, Ader was quick to issue a statement urging shareholders to support his proposal at the agm, whilst Bwin Management stuck to its guns in opposing his initiative.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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