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Sportingbet Sells Italian Interests
Just over three years since it was launched in 2006, Sportingbet's Italian venture, Sportingbet Italia has been sold to its management for an undisclosed but reportedly nominal consideration.
UK business media report that the UK gambling group entered the Italian market in the hope that further liberalisation of Italian online gaming regulation would take place, including a rise in the maximum payout from Euro 10 000. However, the Italian authorities introduced a new offline model by tendering over 13 500 shop-based licences. The consequence was more competition from offline outlets, adding to other concerns regarding the Italian government's requirement that operators use specific software for the Italian market.
The sale is likely to result in an exceptional cost of GBP 7.1 million, reports the Reuters news agency, but the management is still confident of hitting forecasts of GBP 29 million in operating profits for the year ending 31 July 2009.
Reports indicate that losses have accrued since the acquisition in May 2006 of Sportingbet Italia.
Amounts wagered at Sportingbet Italia in the first 11 months of its current financial year were GBP 13.7 million with GBP 2 million in net gaming revenue, resulting in an operational loss of approximately GBP 1.5 million.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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