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Bwin Party Share Buy Back
Thursday June 30, 2011 : Online gambling firm's trading performance in-line with expectations
bwin.party digital entertainment announced the commencement of a share buy-back programme and the sale of its Ongame network in a trading update released this week.
The company reported on its trading performance from the period beginning April 2011, which it says has largely been in-line with management expectations, with the exception of sports margins due to a favourable run of events for punters in May.
A formal process has begun to sell its Ongame B2B network and the firm expects the sale to be completed by the end of 2011.
bwin.party will also embark on a share buy-back programme of up to GBP 75 Million from existing cash resources. A similar move undertaken by both Betfair and Playtech in recent months.
The Board has adopted a progressive dividend policy commencing with a dividend of GBP 30 Million for the year ended 31 December 2011 and has said its merger integration is on-track to deliver GBP 55 million of annualised synergies by 2013
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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