No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
Ladbrokes Issues GBP 300 million Rights
10/8/09 - The UK online and offline gambling group Ladbrokes plc has so far declined to comment on rumours sweeping across the London market Wednesday that it is about to initiate a rights issue to raise GBP 300 million in order to pay down a reported GBP 960 million debt burden.
The Financial Times was first with the reports, claiming that the gambling group would tap shareholders for cash with the launch a rights issue this week. The respected business newspaper expected the issue to be priced at a 35-40 percent discount to Wednesday’s closing price on the company's shares of 181p.
Proceeds from the issue will be used to help Britain's biggest bookmaker pay down its GBP 960 million debt burden and reduce its ratio of net debt to earnings, the FT said.
"The company is not in danger of breaching covenants. William Hill has raised the benchmark on the ratio after their rights issue and this is just to match them," a person close to the situation told the FT.
A Ladbrokes spokesman declined to comment.
The newspaper noted that the move comes just seven months after rival William Hill plc launched a GBP 350 million rights issue and follows a spate of fundraising in the public sector that has included reports of negotiations on a debt for equity deal by Gala Coral (see previous InfoPowa reports).
Bloomberg's news service reported that the fundraising activities are due to bookmakers being hit by heavy losses on football since the start of a Premier League season that has witnessed a drying up of draws – the bookies’ favourite result.
They are also being hammered by a run of wins by the Premier League’s leading and most heavily backed clubs.
"Already in August, Ladbrokes was forced to cut its interim dividend by nearly a third and tighten its cost-cutting programme following a drop in revenues and underlying profits," Bloombergs reports, noting that for the half year to June '09, revenues at Ladbrokes fell 7 percent to GBP 565 million as increasingly cautious gamblers cut back on their wagers. Underlying profit dipped 4 percent to GBP 131 million.
Along with details of the rights issue, Ladbrokes is expected to give an update on current trading, in which it is expected to highlight difficult conditions.
Like rival William Hill, Ladbrokes has plans to shift online operations to Gibraltar to become more competitive.
Limited time offer for all our Readers. All Countries. A brand new No Deposit Bonus. No Max Cashout. Claim It Here.
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.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.