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GAMING VC TAKEOVER TALKS ABANDONED
The European facing online gambling group Gaming VC Holdings has drawn a line under protracted but unsuccessful takeover talks with a still unidentified suitor after over 4 months of negotiation.
Gaming VC advised the market this week that the party which made a preliminary offer for the company on April 17 has now told Gaming VC that it does not wish to proceed at this time.
The company balanced the bad news with the positive information that it continues to trade in line with market expectations ahead of its September 18 release date for the latest results.
Audley Capital Management Ltd., which currently holds 29.3 percent of Gaming VC has requested board representation, and this is being considered by the board of directors. Audley has emphasised that it has no current plans to dispose of its stake in the company.
The board will also consider a share buy-back programme in due course.
Gaming VC operates the Casino Club, Betaland, Poker Kings, Winzingo and Casino Club Poker online gamblikng websites.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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