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PLAYTECH BUYS INTO UK FOOTBALL POOLS

From http://www.recentpoker.com - Playtech continued to dominate the industry news headlines this week with the announcement that it has negotiated a strategic relationship with Sportech plc - parent group of the The New Football Pools in the UK .
 
The agreement will see Playtech providing e-gaming solutions to Sportech, and subscribing for 19,881,020 ordinary shares of 50p each in Sportech, which will represent 9.99 percent of the enlarged issued share capital of Sportech in an investment worth some GBP 10 million. The agreed share price represents a discount of 10.71 percent on Sportech's closing price at the beginning of the week.
 
This proposed investment is part of the GBP 29.2 million capital needed by Sportech to fund its acquisition of Scientific Games Racing ('SGR'), the US-based pari-mutuel and venue management business division of Scientific Games Corporation, for up to $83 million.
 
The Sportech - SGR deal will open doors for Playtech to supply e-gaming products to both companies in addition to its earlier collaborative agreements with Scientific Games announced this week (see previous InfoPowa reports).
 
The combined player bases of the gambling companies are reported to be of considerable proportions in a variety of geographical locations. There is provision in the agreement for the companies to combine on future projects.
 
Commenting on the Sportech agreement, Playtech chief executive officer Mor Weizer said: "This is a further significant alliance for Playtech in the growing international regulated gaming arena. Through its acquisition of SGR, Sportech has strengthened its already leading position in regulated pari-mutuel markets by adding horseracing to football - two of the most popular gaming sports in the world. We share many of Sportech's goals in growing our business in regulated markets and look forward to helping the company fulfill its great potential."
 
Weizer revealed that Scientific Games Corporation, Playtech's new joint venture partner, is taking a 19.99 percent stake in the enlarged Sportech group, which further cements relationships between the companies "in this impressive international business."
In terms of the agreement with Sportech, Playtech is entitled to nominate one non-executive director to the Board of Sportech.
 
The Sportech deal is interesting in and of itself, because the football pools company is buying the racing and management subsidiary of  Scientific Games, which recently signed the major Sciplay collaborative agreement with Playtech plc. The cost of this acquisition is Euro 58.9 million, payable in shares and cash.
 
Sportech's goal in closing the deal is to expand its pari mutuel football betting operations into the horseracing sector, particularly in the lucrative continental North American region in addition to European and Scandinavian markets.
 
Sportech already has a JV in the Indian market through its agreements with the Indian company Playwin.
 
The GBP 10 million which Playtech is to put up to acquire a 10 percent stake in Sportech is complemented by another 20 percent of Sportech stock which SGR seller and Playtech partner Scientific Games has agreed to buy, thus providing Sportech with the wherewithal to go ahead with the SGR transaction.
 
The SGR sale requires Sportech to put an initial $65million on the table, followed by a further $10 million by end September 2013 along with payments of up to $8 million conditional on SGR meeting agreed performance targets over the next three years.
 
SGR management will be positioned on the Sportech, chief exec Ian Penrose said this week



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

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.

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