PartyGaming incurs $250 million withdrawal charge
PartyGaming is expecting to incur a one-time charge of $250 million in the second half of this year for the closure of its US operations. The online gaming company also said that its profit before tax, interest and depreciation would be significantly lower than it was in the first half.
Super-casino selection delayed a month
The selection of the site for the UK's first super-casino has been delayed until the end of January after the panel responsible for the choice requested an extension to allow 'time for the printing process'. The Conservative party labelled the selection process a 'shambles' and asked for the real reason to be made public.
Harrah's raises LCI bid by $40 million
Harrah's Entertainment has raised its offer to buy British casino operator London Clubs International to $570 million and expects the deal to be finalised by the end of the year. The news comes after the Las Vegas-based Harrah's said that it had agreed to purchase a 29.6 per cent stake in LCI for 135 pence per share from a subsidiary of Genting International.
Intralot expected to bid for UK lottery
Greek-based lottery firm Intralot is expected to announce that it will bid for the UK National Lottery licence. The international operator, which already runs lotteries in China, US and Malaysia, has previously won all six of the bidding processes entered.
DCMS issue AWP warning to licensees
The Department for Culture, Media and Sport has warned that the change in maximum stakes and prizes for pub gaming machines could be 'under threat' if licensees are found not to be supervising their machines effectively. A statement by the department said that individual licensees who do not comply with the industry's new voluntary code on responsible management could present 'problems for the whole pub trade'.
'Record' Betting Show begins Wednesday
A record number of 70 exhibitors will be taking part in this week's Betting Show (October 25-26th) held at Birmingham's NEC. The Responsibility in Gambling Trust's John Greenway MP will begin the show's seminar programme with a look at the impact of changes in legislation on betting businesses. Pre-registration for the exhibition is closed, but free registration is still possible on the door.
Garber predicts 50 per cent chance of ban being overturned
Mitch Garber, chief executive of PartyGaming, thinks there is a 50-50 chance that US anti-gambling legislation could be lifted within three-years. He argued that a player backlash could cause a change in control of the Senate and the House of Representatives.
Alderney grants four new licenses
The Alderney Gambling Control Commission has granted licenses to WagerWorks, Asia Pacific Gaming Ltd, World Poker Tour and ElectraWorks, bringing the total number of issued licenses to 25. Alderney last month granted full eGambling licenses to the Alderney subsidiaries of William Hill and Sportingbet.
Bookies face record payout on Champions League
British bookmakers lost an estimated £10 million on last week's Champions League after 14 of the 16 favourites won their mid-week fixtures. Ladbrokes were thought to have the worst single loss with a £115,000 accumulator payout.
Maltese authority licence bingo terminals
The Maltese Lotteries and Gaming Authority has given licensed bingo halls a six-month trial period to test electronic bingo terminals. The LGA said that it wanted to consider the new developments and ensure future compatibility.
Science Museum opens video game exhibition
The London Science Museum has opened an exhibition detailing the history of Video Games. The new exhibition displays 120 games for kids to play, and asks adults to questions the benefits and pitfalls of the £13.3 billion industry.
Bodog buys Betcorp for $11 million
Costa Rican gaming group Bodog will purchase Australian-based Betcorp's Canadian and Antiguan assets for $9 million in cash, and will assume liabilities of $2 million. Following the sale, Betcorp's net assets will be comprised solely of cash.
William Hill willing to make Tote offer
William Hill's chief executive David Harding said that the company would be willing to make an offer for the state-owned Tote if it were broken down into parcels. He ruled out bidding for the whole estate on competition grounds, saying that Hill was too big.
Ladbrokes sets site on poker world series
Ladbrokes will invest £3 million in its Poker Million tournament with the aim of turning it into a European competitor to the World Series of Poker. The UK bookmaker's said that the US ban on online gambling would open up a huge opportunity for the European-based tournament.
Galaxy to open StarWorld
The Galaxy Entertainment Group is preparing to open its new HK$3 billion, 300-gaming table StarWorld hotel in Macau this week, taking its total number of venues in the region to five. Galaxy chairman Lui Che-woo said that he expected the company's gaming market share in the Chinese enclave to reach 25 per cent by the end of the year.
Greene King to sell 150 venues
Greene King is selling 150 of its tenanted pub for an undisclosed sum and is thought to have appointed PricewaterhouseCoopers to advise it on the process. According to The Times newspaper, the Suffolk brewery and pub operator's package is drawing strong interest from Admiral Taverns and Trust Inns.
Clare leaves Northern Racing
Northern Racing's development director Steve Clare is leaving the company at the end of the year to launch his own consultancy business. Clare will be retained on a consultancy basis by Northern Racing to advise on the new gaming legislation and will also join Bath Racecourse as a non-executive director.
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