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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



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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.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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