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JADESTONE MANAGEMENT BUYOUT FINALISED

12/20/11 : New era for online gaming developer
 
Swedish online gaming developer Jadestone is now 100 percent owned and managed by its current management team following a management buy-out from former parent company, the Åland based gaming operator Paf.
 
Jadestone's corporate structure including staff, gaming platforms, intellectual properties and other resources currently employed in its development and operation of online casino and multiplayer gaming solutions for operators is covered under the agreement.
 
"Our relationship with Paf has been invaluable for our growth into an established player on the global online gaming arena," said Robert Henrysson, chief executive officer of Jadestone. "However, the synergies have diminished as Paf concentrates on the consumer business while Jadestone's focus is on B2B gaming platforms.
 
“Now that we part ways, it's with excitement but also with great appreciation of our long partnership. We certainly expect that Jadestone will continue to be a key provider of popular games to Paf."
 
"It's a rare luxury for management teams to get a chance like this," said Tobias Nissen, business development director for Jadestone. "We're clearly leaving a safe harbor, but for true entrepreneurs like us, nothing beats steering your own ship. We hope and believe that the independence and flexibility now gained will enable us to serve and delight both current and new clients even better."

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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 Authoritys 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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