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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.
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To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
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NHL Odds: Lone Canadian Team Plays on Friday -
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NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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