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DEPT. OF JUSTICE QUESTIONS ON INTERNET GAMBLING ACQUISITION

1/27/10 - From http://www.recentpoker.com  - The US Department of Justice is sticking it inquisitive nose into a $126.8 million agreement by the Kentucky horseracing giant Churchill Downs to buy Internet gambling firm Youbet.com....but it's more about anti-trust precautions than the legality of online horserace betting.
 
The US horse racing industry benefits substantially by being exempted from federal laws regarding online betting.
 
This week the horseracing group said that it would cooperate fully with the DoJ regarding the transaction. The DoJ has apparently requested additional information and documentary material in connection with the parties' proposed merger transaction. These actions, commonly referred to as "second requests," have the effect of extending the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended ("HSR Act"), until 30 days after both parties have substantially complied with the requests, subject to any modifications of the requests to which the DOJ may agree.
 
"CDI and Youbet are in the process of gathering information to respond to the second requests and are working cooperatively with the DOJ as it reviews the merger," a spokesman said.
 
In November last year (see previous InfoPowa reports) Churchill Downs and Youbet jointly announced agreement on the deal, which will see CDI acquire all of the outstanding shares of Youbet, in a transaction valued at approximately $126.8 million based on the Nov. 10, 2009 closing price of CDI common stock.
 
CDI, headquartered will substantially increase its Internet betting footprint when the Youbet.com deal is completed. The company is betting that online wagering will keep up a fast pace in an industry that has been sluggish during the recession as gamblers tighten their spending.
 
CDI owns and operates four thoroughbred racing facilities: Arlington Park in Illinois, Calder Casino and Race Course in Florida, Churchill Downs Race Track in Kentucky and Fair Grounds Race Course & Slots in Louisiana.  It also operates slot and gaming operations in Louisiana and Florida.
 
CDI also owns off-track betting facilities, TwinSpires.com and other advance-deposit wagering channels, television production, telecommunications and racing service companies such as BRIS and a 50-percent interest in the national cable and satellite network, HorseRacing TV, which supports CDI's network of simulcasting and racing operations.



Gambling News :

$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

Iforium In Partnership With Booming Games - Iforium, the leading provider of casino aggregation software, are pleased to announce a new agreement with Booming Games

PartyPoker Rakebak - Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.

NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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