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Gambling: paddyPower Expands to Australia

The Irish online and offline gambling group Paddy Power has taken its aggressive expansion strategy a stage further this week with the A$ 48.5 million acquisition of a controlling stake in the Australian sports betting firm Sportsbet.
 
A$48.5 million bought Paddy Power a 51 percent stake in the company and will be accompanied by the issue of 100 000 Paddy Power shares to Sportsbet investors. The cash consideration will be funded from Paddy Power's strong cash reserves of Euro 96 million.  Aladdins Gold Online Casino - All USA Players Welcome

Sportsbet shareholders will receive a further bonanza of some A$ 10 million in early 2010 conditional on Sportsbet EBITDA in 2009 exceeding A$ 16.5 million. The chances of this performance level being reached are good, as the company has already estimated its EBITDA at A$ 14.6 million at the half-year point.
 
The deal will incentivise Sportsbet's CEO and main shareholder Matthew Tripp, who will continue to helm the company, with four Paddy Power directors joining his board, including PP chief exec Patrick Kennedy and head of retail and online operations Breon Corcoran.
 
Sportsbet owns almost 20 percent of the Australian gambling group International All Sports, itself recently the target for an attempted but unsuccessful takeover by Centrebet.
 
The downside for Sportsbet shareholders is that if performance falls between June 2010 and 2012, and EBITDA falls below A$ 11 million, Paddy Power has the right to recover from the equity of Sportsbet shareholders.
 
“The acquisition adds a new dimension to our business portfolio to which we can bring trading, risk management and marketing expertise honed in Ireland and the UK to complement Sportsbet’s existing skills and experience,” Patrick Kennedy told Paddy Power shareholders this week.



Gambling News :

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

122 Punta Cana Poker Classic prize packages - Twenty seven down — 95 more to go. We’re guaranteeing 122 Punta Cana Poker Classic prize packages and 27 are already spoken for. This Sunday night we’ve got 7 more on the line:

Huge Caribbean Hold’Em hit at Bovada Casino - A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.

Halloween Slot Deal For Microgaming - He’s coming back! Microgaming signs licensing deal for horror classic Halloween

New PartyPoker Pro Richard Dubini - A regular player in the Latin American live circuit, Dubini will travel alongside partypoker ambassador Joao Simao to gain feedback from players about partypoker to help optimise both live and online poker for the local players.

Bitcoin Now Available at WinaDay Casino - No one wants to wait to spend their winnings and Bitcoins will be the quickest way for a lot of players to get their money.

$65k Hit on Bitstarz Slot - Bewitching payout of $64,818 was scooped up by a fearless BitStarz player as he played the popular slot Hansel & Gretel: Witch Hunters, based on the movie with the same name!

Microgaming Launches 3 New Games for July 2017 - Microgaming’s new additions will treat players to sweet rewards and captivating stunts, and transport them to magnificent castles this July!

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