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Cereus Poker network - AbsolutePoker and UB - Sold

Little known e-gaming company buys Tokwiro's internet poker network
 
Taking many industry observers off-guard late Thursday was a press release from the largely unknown e-gaming firm Blanca Games revealing that it has acquired the interests of the Cereus poker network formerly owned by Tokwiro Enterprises and including well established if at times controversial sites Absolute Poker.com and UltimateBet.com.
 
The release did not provide details of the consideration paid or conditions for the sale, although industry sources have since confirmed that a supporting press release from Tokwiro can be expected soon. The network is unlikely to have been a cheap buy, as the deal is understood to cover all network operations, intellectual property, software, and branding rights for the constituent sites.
 
The Khanawake Gaming Commission, which licensed and regulated the sites, has apparently given its blessing to the deal.
 
The press material includes quotes from Blanca Games CEO Stuart Gordon, whom it describes as an experienced e-gaming executive, who said: “The acquisition of Cereus is a significant opportunity for us. Cereus is a major platform of well-managed assets. Over the past few years, it has created new brands, like UB.com, that are extremely well-positioned in the most desirable demographic in our market: players in the 20s and 30s age brackets.
 
“From our perspective, we have acquired a large, sophisticated online gaming operation with state-of-the art capabilities, ranging from compliance to business intelligence to online marketing to customer service. We see a tremendous growth opportunity in this deal and beyond, as Blanca seeks additional acquisitions in the market.
 
“We are confident that the Cereus Network has found an excellent home in Blanca Games.  Over the past several years, Cereus has developed into an outstanding platform, which is poised for significant growth.  This transaction will benefit Cereus players and employees alike.  We expect no changes in the playing experience on the Cereus sites, except for the improvements that will likely be the long-term result of this transaction.”
 
According to internet sources, Gordon founded BingoMania.com and Helix Gaming International, and has licensing from both the Kahnawake Gaming Commission and Antigua.
 
Gordon has intimated that no major changes are presently contemplated in either staffing, policies or technology at Cereus. Clearly with an eye on the historical furores at Absolute Poker and UltimateBet, Gordon said: “We intend to leverage the existing strengths of the Cereus Poker Network, particularly in the areas of security and customer service. Although we are impressed with many of the new security features on the Network today, security is and will remain our top priority.”

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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