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PLAYTECH RAISES MORE CASH FOR ACQUISITIONS

Online gambling software developer and London-listed firm Playtech plc raised an impressive GBP 112 million for new acquisitions this week through the successful completion of a placing in which a total of 21 620 946 new ordinary shares of nil par value each were placed with institutions at a price of 520p per Placing Share. The placing was underwritten by Collins Stewart.
 
The exercise involved approximately 9.9 percent of the company's issued share capital immediately prior to the Placing
 
The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of Playtech Limited, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.
 
Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. Subject to Admission, it is expected that dealings in the Placing Shares will commence on 23 June 2008.
 
With the offering, Playtech looked to take advantage of the rise in its share price. The firm's market cap is up 40 percent since January, and is more than double its IPO value in the spring of 2006.
 
Playtech CEO Mor Weizer commented, "Playtech made strong progress in 2007 with all key performance indicators exceeding targets. This progress has continued into 2008 with the company registering impressive month on month revenue growth. This performance has put the group in an ideal position to continue its growth strategy both organically and by acquisition. We have demonstrated our ability to leverage acquisitions and believe this placing will provide the group with an extremely strong balance sheet that will allow it to take advantage of further opportunities that the current market offers."
 
Playtech already has $86.5 million in cash available for acquisitions, not including today's placement or $34.8 million in short-term investments.
 
The company added nine new licensees in 2008 and launched two licensees at the end of the first quarter. The new licensees include Betsson, one of the largest publicly traded online gambling operators serving the European market and Vista Global  Limited, the group behind the celebrity-endorsed Hollywood Poker brand. This brings Playtech's total number of licensees to 59. 



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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