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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 :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

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.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

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.

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