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SPORTECH - CONTAGIOUS GAMING DEAL IS OFF
Saturday November 7,2015 : SPORTECH - CONTAGIOUS GAMING DEAL IS OFF (Update)
After two extensions to negotiating timeframe, betting companies walk away from acquisition deal.
After months of negotiating that has necessitated two stock exchange extensions to the mandatory bargaining timeframe UK-based Sportech plc and Canada's Contagious Gaming have abandoned acquisition talks.
Announcing the failure to reach agreement despite negotiating since August this year, Contagious said that it had not proved possible to secure mutually acceptable terms, whilst Sportech declared that it had not received an offer that the board could recommend to shareholders.
Sportech has also noted that it has received other offers from undisclosed parties which it is considering.
InfoPowa readers will recall that Sportech was not the only iron Contagious had in the acquisition fire; in October the company announced an agreement to acquire sports software provider Digitote for Euro 4.8 million.
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Gambling News :
Pokerstars Now Lead Sponsor of Global Poker League -
Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.
Betconstruch invests in Ucrafts -
BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.
Plus500 Founders Selling Off Shares -
Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.
Rush Golf Live Launches -
Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.
GreenTube and Chopsticks In Partnership -
Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.
Singapore Gambling Exemptions Granted -
The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.
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