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Atletico Madrid agrees to extended shirt sponsorship deal With Plus500
Saturday June 27,2015 : SPANISH FOOTBALL SPONSORSHIP FOR PLUS500
Atletico Madrid agrees to extended shirt sponsorship deal.
Plus500, the troubled financial CFD trader that Playtech recently agreed to acquire in a £459.6 million offer has pushed ahead with its marketing programme, agreeing this week to a two-year extension of its football shirt sponsorship association with Atletico Madrid.
Playtech's Plus500 deal remains under threat from the powerful London-based hedge fund Odey Asset Management, a major shareholder of 25 percent of the company which has been increasing its holding.
Odey claims that the Playtech offer is almost half the £862 million Plus500 was worth before the regulatory crisis at Plus500 - over inadequate anti-money laundering checks - blew up last month.
However, last week Playtech revealed that it had bought another 10.75 million shares in Plus500, equivalent to 9.36 percent of the company.
Allied with Plus500's management, who speak for 35.6 percent of the company's shares, that amounts to around 45 percent of the company....not far short of the 50.1 percent necessary under Israeli law to claim control and allow the acquisition to progress despite Odey opposition.
Playtech is presumably working on getting that 5 percent or more of additional support from the remaining shareholders.
Odey, a formidable £8.25 billion operation, remained opposed to the deal when InfoPowa went to press this week, describing it as "....an opportunistic bid exploiting current regulatory issues and risks." However, the company has been buying Plus500 shares at around the £4 a share level, which in value is in the Playtech bid area.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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