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LOSSES AND ACQUISITIONS FOR THE WEATHER LOTTERY
Written On 4/19/11 By Recentpoker.com staff writer Emily Apontif :
Contractual glitches, alleged fraud and new acquisitions
Doncaster-based The Weather Lottery (TWL) delivered its half year results for the period ended 31 January 2011 and announced the acquisition of Soccerdome Limited, a five-a-side football facility in Nottingham, this week.
TWL reports a pre-tax loss of GBP 321 000 on turnover of GBP668 000 attributed to contractual wrangles related to its FC Betz brand and the unfortunate incident of alleged fraud committed by former managing director Keith Milhench and another ex-employee of GBP 80 000.
The company says that disputes relating to contractual issues between FC Betz and football clubs means in some cases FC Betz is unable to access the full database to which it believes it is contractually entitled because of prior third party claims to the same Intellectual Property Rights in the database. As a result FC Betz is renegotiating the terms of the contracts at a much lower fee with a view to terminating the agreements at the end May 2011.
The acquisition of Devilfish Poker has provided another steady revenue stream and a database of 20 000 players that TWL promotes its products and services to and the company is showing signs of growth with new corporate clients, subscribers and the investment in new lottery brands such as FCLotto.
TWL announced its latest acquisition of Soccerdome, a five-a-side facility in Nottingham for a consideration of GBP 375 000. The acquisition is part of TWL's ongoing expansion in the football industry.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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