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Redbet Settles Legal Dispute

Thursday June 28,2012 : REDBET SETTLES LEGAL DISPUTE WITH ABBA TINA MALTA (Update)
 
Welcomes new Abba Tina shareholders
 
Redbet Holding AB reports settling a legal dispute following receipt of a subpoena from Abba Tina Malta Ltd relating to a claim of Euro 747 991 plus interest and costs against Redbet Ltd., a former subsidiary that was sold in connection with the liquidation of its operations in England in May 2010.
 
Under the terms of the agreement, the company will pay Abba Tina Malta an amount totalling SEK 2.25 million, by providing SEK 1 250 000 in cash and 588 235 new shares in Redbet Holding AB.
 
Claes Hallen, chief executive officer of Redbet commented: "The parties reached consensus on this settlement and can now jointly put the matter behind us.  Redbet welcomes Abba Tina Shareholders".
 
Redbet's settlement will have little impact on its earnings as the firm had set aside SEK 1.8 million for the impending case, confirmed a company statement.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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