William Hill to Issue Bonds

10/12/09 - THe UK-based gambling giant William Hill plc is considering the issue of bonds to raise as much as GBP 200 million in cash from investors, the Financial Times reported over the weekend, pointing out that as recently as February 2009 the company had raised GBP 350 million in a rights issue.

The intention is apparently to use the new money to reduce the company's GBP 850 million debt burden, insiders told the FT.

Sources said that the company was in the preliminary stages of negotiations with British banks, and that the final amount of the bond had not yet been decided, but could be as high as GBP 200 million. It is understood that Citigroup has been appointed to review options.

Like playing at online casinos .Take a look at our online Casino Bonus Page for a list of our exclusive online casino bonuses.

Last week rival gambling group Ladbrokes plc launched a GBP 286 million rights issue in order to attack its GBP 960 million debt pile.

The FT notes that Brit bookies have been hit by heavy losses on football this season, where there have been fewer drawn matches, giving punters better chances to back a winner.

William Hill and Ladbrokes both plan to cut costs by moving their online sports betting operations to Gibraltar, where a more benign tax regime will enable them to better compete with offshore rivals.

Cryptologic 14 top games to be provided to Loto-Quebec - 02/08/2012 : The companies have signed a multi-year agreement that will see Cryptologic providing a portfolio of quality games to the Societe du jeu virtuel du Quebec, the online gaming division of the provincial state lottery corporation Loto-Quebec, known as Espacejeux.

Utah : Online Gambling : HB108 - 02/08/2012 : An intrastate attempt by Utah politician Stephen Sandstrom to introduce state legislation banning any legalisation of internet gambling has failed at the start gate.

MORE U.S. DISCUSSION ON INTERNET GAMBLING DUE THIS WEEK - 02/08/2012 : Interest in online gambling in the United States is set to continue on Thursday this week when the US Senate Committee on Indian Affairs meets to hear the views of a wide cross section of interested parties on the possible impact of legalised internet gambling on tribal gaming.

Judge wont dismiss DoJ Black Friday charges - 02/08/2012 : Former Utah banker John Campos and e-processor Chad Elie, who face charges relating to the payment processing of online poker transactions, suffered a setback Tuesday when a Manhattan judge refused to allow their motion for dismissal of Black Friday indictments against them.

ANOTHER MAJOR INTERNET GAMBLING BUST IN MALAYSIA - 02/08/2012 : Police units in Malaysia raided a series of premises in a week long anti-online gambling operation, seizing 225 computers and detaining 47 men, according to reports from the Bernama news agency. All of the detained men were later released on bail.