News in brief: Centrebet shareholders back Sportingbet bid; Jackpot Joy; Bingo.com
Centrebet shareholders support proposed takeover of Australian bookmaker by Sportingbet - meeting next week could solidify deal.
Centrebet‘s shareholders have announced their support for the proposed takeover of the Australian bookmaker by London-listed Sportingbet in a share scheme meeting. The approval of performance rightholders was also received, although the takeover remains conditional upon a second court hearing to be held on 22 August, and on the satisfaction or waiver of further conditions including no government body imposing restrictions on the two schemes (the issuing of new shares and a convertible bond) on which the purchase is predicated. The approval comes a day after the revelation that AIM-listed GVC Holdings is involved in exclusive discussions to purchase Sportingbet’s Turkish business.
The Advertising Standards Authority (ASA) has upheld a complaint about Jackpot Joy‘s recent online advert on the talktalk.com website. It was ruled that the advert, which offered new players a “guaranteed win” from a “free spin on the Star of Joy”, both failed to mention that a deposit was needed and failed to make the distinction between prizes and free gifts. On the latter point, ASA explained: “We… considered the offer was a guaranteed gift not a prize, and concluded the ad was misleading,” and ruled that the advert must not appear again in its current format.
Former Everest Poker owner GigaMedia has seen Q2 revenues drop by 19% year-on-year excluding results from discontinued operations, the Taiwanese company revealed this week in its results for the three months ended 30 June. Everest Gaming has reported poker revenues of US$8.5m for the same period, down more than 18% compared to the previous quarter. GigaMedia sold 60% of Everest Poker to Mangas Gaming last year but retains a 40% stake.
Following last year’s 69% drop in revenues, Bingo.com has recorded its first profitable quarter in five years with a net income of US$8,520 for the three months ended 30 June, compared to a US$743,332 loss in Q1 2011. Revenue was up 47% compared to the first quarter, and the $363,492 figure is more than triple the revenues recorded in Q4 2010. The results are the first to be released by Bingo.com since Jason Williams took over as CEO in June.
Online poker community PocketFives has launched its ‘Poker Refugees’ service, aimed at helping US-based online poker players relocate overseas in response to Black Friday. The three main countries suggested by the scheme are Costa Rica, Panama and Canada. PocketFives representatives will assist with temporary or permanent relocation, offering consultation on potential locations as well as helping with banking, legal and accounting needs.
Former Ulster Bank CEO Cormac McCarthy is set to join the board of Paddy Power as a non-executive director on 1 September. McCarthy, a qualified chartered accountant, will replace O’Brien’s Sandwich Bars founder Brody Sweeney who is set to retire from the board after six years.
SkyBet has re-signed with Sporting Index Group‘s B2B arm Sporting Solutions, building on a deal first struck in 2009. The agreement has been marked by SkyBet increasing the number of sports offered on its in-play service, which now includes US sports as well as cricket, tennis and rugby.
Plus-Five Gaming has signed a white-label casino deal with Loaded magazine. The online and mobile deal follows the recent licensing agreement between Plus-Five and Mahjong Logic.
Four events have been announced for the 2011 season of Betfair‘s live poker tour, according to Pokernews. The first event will take place in Dublin next month, with further poker tournaments to be held in London, Prague and the Costa Brava.