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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.
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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