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Gigamedia Purchase Complete
5/13/10 - In an announcement this week, the Taiwan-based Gigamedia Ltd updated the market, confirming that French internet gambling group Mangas Gaming has completed its purchase of 60 percent of the Gigamedia online gambling operations.
The sale has immediate effect, and Gigamedia expects to record a significant one-time gain in the second quarter as a result of the transaction.
Mangas Gaming is jointly owned by the Lov Group of the highly successful French media entrepeneur Stephane Courbit in partnership with the Societe des Bains de Mer de Monaco, controlled by the Principality of Monaco. SBM is the owner of the Monte Carlo Casino in Monaco.
Mangas has made initial cash payment of $100 million, which will be followed by a final earn-out payment to be made after the May 2012 valuation, depending upon the fair market value of the business at that time.
Gigamedia will continue to hold the remaining 40 percent interest with a put option to sell all or part to Mangas beginning 2013. Beginning 2015, Mangas will have a call option on any remaining shareholding held by Gigamedia. For both GigaMedia's put option and Mangas's call option, the price will be determined based upon fair market value at the respective points in time.
Gigamedia posted group preliminary first-quarter 2010 financial results, with revenues of $37.1 million, down approximately 8 percent quarter-over- quarter, largely attributable to business transition and integration issues related to the Mangas deal.
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Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports
International Table Tennis Federation in deal with Sportradar. -
The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.
NBA odds on Thunder vs. Pacers Game? -
This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.
2 New Christmas Slots For Microgaming -
Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.
SportsBetting Supreme Court Showdown -
Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)
NBA Odds: Heat Can Burn Cavaliers in Cleveland -
The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
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