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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 :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

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