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Monday August 22,2016 : NEKTAN SELLS OFF THREE BRAND ASSETS
But will continue operating brands as white labels for a further five years.
Mobile gaming provider Nektan has partnered Buckingham HMB Ltd for the sale of three of its gaming brands for an initial GBP 1.75 million linked to a simultaneous white label licensing agreement that will see it continue to operate the brands for a five-year term on its Evolve platform for a monthly royalty.
A further GBP 200,000 is expected to follow shortly after the transfer of Nektan’s in-house developed Chomp Casino, Spin Princess and Sapphire Rooms web domain and customer database assets, the proceeds of which will be used to develop its business in Europe and the US, through its Respin Joint Venture.
As with other white label partners, Nektan will continue to report net gaming revenue from the three brands within its own net gaming revenue figures, a company statement said.
“…the transfer of these brand assets coupled with the long term white label licensing agreement is a positive step forward for the business by providing additional working capital for the Group while still benefiting from a share of the ongoing revenues of the brands,” Leigh Nissim, chief executive of Nektan, said.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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