Monthly Archives: June 2016

Tatts Group sells Talarius slots operation to Novomatic Group’s UK division

Australian wagering and lottery operator Tatts Group has sold its UK-facing slots division Talarius to the UK division of Austria’s Novomatic Group.

On Monday, Tatts announced that Novomatic UK had agreed to buy Talarius, which operates Quicksilver-branded slots venues. Tatts said it expects to realize a net gain of £111m from the transaction. The deal gives Novomatic the economic benefit of the Talarius business as of March 19, 2016.

Talarius’ contribution to Tatts fiscal 2015 earnings was a mere A$6.2m, less than 2% of total earnings, and Tatts says the sale won’t have a material impact on its continuing earnings per share. Tatts said the divestment will result in a non-cash accounting loss of A$50m in the company’s fiscal 2016 numbers.

Tatts acquired Talarius back in 2008 and Tatts CEO Robbie Cooke says the company made an “intense effort” over the last three years “to improve the performance” of the slots business. Now that it has become “a very attractive asset in a highly competitive gaming segment,” the time was right to sell.

Tatts Group sells Talarius slots operation to Novomatic Group’s UK division

Australian wagering and lottery operator Tatts Group has sold its UK-facing slots division Talarius to the UK division of Austria’s Novomatic Group.

On Monday, Tatts announced that Novomatic UK had agreed to buy Talarius, which operates Quicksilver-branded slots venues. Tatts said it expects to realize a net gain of £111m from the transaction. The deal gives Novomatic the economic benefit of the Talarius business as of March 19, 2016.

Talarius’ contribution to Tatts fiscal 2015 earnings was a mere A$6.2m, less than 2% of total earnings, and Tatts says the sale won’t have a material impact on its continuing earnings per share. Tatts said the divestment will result in a non-cash accounting loss of A$50m in the company’s fiscal 2016 numbers.

Tatts acquired Talarius back in 2008 and Tatts CEO Robbie Cooke says the company made an “intense effort” over the last three years “to improve the performance” of the slots business. Now that it has become “a very attractive asset in a highly competitive gaming segment,” the time was right to sell.

WSOP Day 26 Recap: Todd Brunson Channels His Inner Doyle, Phillip McAllister Wins a Shootout, and Our Own Holloway Does Us Proud

WSOP Day 26 saw a famous pedigree move up in an event, and a Brit took down a Shootout. But let’s get down to details. Probably the premier family dynasty in poker is the one bearing the name “Brunson.” and yesterday, one of the progeny of that famous name was in contention for a bracelet. […]

The post WSOP Day 26 Recap: Todd Brunson Channels His Inner Doyle, Phillip McAllister Wins a Shootout, and Our Own Holloway Does Us Proud appeared first on .

WSOP Day 26 Recap: Todd Brunson Channels His Inner Doyle, Phillip McAllister Wins a Shootout, and Our Own Holloway Does Us Proud

WSOP Day 26 saw a famous pedigree move up in an event, and a Brit took down a Shootout. But let’s get down to details. Probably the premier family dynasty in poker is the one bearing the name “Brunson.” and yesterday, one of the progeny of that famous name was in contention for a bracelet. […]

The post WSOP Day 26 Recap: Todd Brunson Channels His Inner Doyle, Phillip McAllister Wins a Shootout, and Our Own Holloway Does Us Proud appeared first on .

NOVOMATIC welcomes Ainsworth Game Technology shareholder approval of proposed share transaction

Gumpoldskirchen, 27 June 2016 – Following the approval by minority shareholders at the shareholders meeting held earlier today, NOVOMATIC will proceed with the proposed acquisition of a 53% stake in Ainsworth Game Technology (AGT). This relationship is expected to accelerate AGT’s development and support the creation of a stronger company with deeper product breadth enabling it to better compete against international gaming conglomerates. 

NOVOMATIC’s Chief Executive Officer Harald Neumann said that through NOVOMATIC’s majority shareholding, AGT will benefit from collaboration across a range of markets that will be substantially positive for long term shareholder wealth creation.

Mr. Neumann emphasised: “We value the trust and support by the minority shareholders through the positive vote of approving the share transaction and will make every effort to meet their expectations. We will commence implementing the binding commitments as outlined in the Notice of Meeting to crystallise the expected benefits of the relationship.”

He further stated that completion of the share sale is subject to a range of regulatory and gaming licence approvals.

NOVOMATIC welcomes Ainsworth Game Technology shareholder approval of proposed share transaction

Gumpoldskirchen, 27 June 2016 – Following the approval by minority shareholders at the shareholders meeting held earlier today, NOVOMATIC will proceed with the proposed acquisition of a 53% stake in Ainsworth Game Technology (AGT). This relationship is expected to accelerate AGT’s development and support the creation of a stronger company with deeper product breadth enabling it to better compete against international gaming conglomerates. 

NOVOMATIC’s Chief Executive Officer Harald Neumann said that through NOVOMATIC’s majority shareholding, AGT will benefit from collaboration across a range of markets that will be substantially positive for long term shareholder wealth creation.

Mr. Neumann emphasised: “We value the trust and support by the minority shareholders through the positive vote of approving the share transaction and will make every effort to meet their expectations. We will commence implementing the binding commitments as outlined in the Notice of Meeting to crystallise the expected benefits of the relationship.”

He further stated that completion of the share sale is subject to a range of regulatory and gaming licence approvals.

Negative UK credit rating to shake up bitcoin

The ripple effect of United Kingdom’s unexpected Brexit vote has stretched to the financial sector.

Last Friday, credit rating institution Moody’s lowered the credit rating for UK from stable to negative to negative—something that could possible lead to lower ratings for the sovereign in the future.

UK’s growth prospects, according to Moody’s, would be “materially weaker” if the government fails “to secure a favorable alternative trade arrangement with the EU and other countries.”

“During the several years in which the UK will have to renegotiate its trade relations with the EU, Moody’s expects heightened uncertainty, diminished confidence and lower spending and investment to result in weaker growth,” the credit rating service said.

Negative UK credit rating to shake up bitcoin

The ripple effect of United Kingdom’s unexpected Brexit vote has stretched to the financial sector.

Last Friday, credit rating institution Moody’s lowered the credit rating for UK from stable to negative to negative—something that could possible lead to lower ratings for the sovereign in the future.

UK’s growth prospects, according to Moody’s, would be “materially weaker” if the government fails “to secure a favorable alternative trade arrangement with the EU and other countries.”

“During the several years in which the UK will have to renegotiate its trade relations with the EU, Moody’s expects heightened uncertainty, diminished confidence and lower spending and investment to result in weaker growth,” the credit rating service said.

Vietnam moves to relax gambling policy

After seven years of waiting, Vietnamese residents are one step closer toward the glitzy sights and sounds of casino gambling.

The Lottery and Gambling Division of Vietnam’s Ministry of Finance (MoF) announced on Monday that it submitted a long-awaited draft decree, which will allow Vietnamese residents to gamble in casinos for the first time.

Under the existing rules, casino entry is limited to foreigners and overseas Vietnamese or Viet Kieu.

“We hope that this will be the last draft, already we have seen a lot of revisions before its submission in June,” Nguyen Huy Dat, deputy director of the (MoF Lottery and Gambling Division, told the Vietnam Investment Review.

MGM takes legal fight vs. Indian tribes to Congress

In a game of chess with Connecticut state officials and Indian tribes over the creation of a new tribal casino near the Massachusetts border, MGM Resorts International appears to be three steps ahead of them.

Even before Connecticut state officials pop the celebratory champagne following the dismissal of the lawsuit filed by the casino resort operator against them last Friday, MGM has been secretly lobbying for the approval of a little-noticed amendment that will block tribes that run casinos on tribal reservations from opening commercial casinos in the same state.

The amendment, reportedly sponsored by Nevada senators Dean Heller and Harry Reid, will not only put the third Indian-owned Connecticut casino project – which is a direct competitor of MGM in the state – in jeopardy but will also unfairly limit all of Indian tribes’ opportunities.

To the relief of the Indian tribes, the controversial amendment filed with a military bill failed to come up for a vote.

MGM takes legal fight vs. Indian tribes to Congress

In a game of chess with Connecticut state officials and Indian tribes over the creation of a new tribal casino near the Massachusetts border, MGM Resorts International appears to be three steps ahead of them.

Even before Connecticut state officials pop the celebratory champagne following the dismissal of the lawsuit filed by the casino resort operator against them last Friday, MGM has been secretly lobbying for the approval of a little-noticed amendment that will block tribes that run casinos on tribal reservations from opening commercial casinos in the same state.

The amendment, reportedly sponsored by Nevada senators Dean Heller and Harry Reid, will not only put the third Indian-owned Connecticut casino project – which is a direct competitor of MGM in the state – in jeopardy but will also unfairly limit all of Indian tribes’ opportunities.

To the relief of the Indian tribes, the controversial amendment filed with a military bill failed to come up for a vote.

CEEGC 2016 Budapest announces SBTech as first Silver Sponsor

On 27 June 2016, the Central and Eastern European Gaming Conference (CEEGC) Budapest have announced their first Silver Sponsor for the event.

In their recent Press Release the organizers announced that:

“We are proud to announce our first Silver Sponsor of the Central and Eastern European Gaming Conference, which will take place in Budapest on the 20th of September 2016. The event is a Seminar type conference which is designed to encourage a Pan-European dialogue and create an in-depth report of the Central, Eastern and Northern European markets, with an additional Balkans gambling market overview allowing operators and suppliers to monetize the value of their reputations.”

Zoltan Tundik, Head of Business at EEGaming, – organizers of the conference, stated that: “With all the industry now focusing on the waves that were triggered by the United Kingdom’s exit from the European Union and its effects on the online gambling market, this is the right time to attend such a conference and get all the latest information first hand from the speakers of our conference. I do believe that the European gambling market faces a huge turning point which I can certainly say is aiming at a growth. Thus it is my pleasure to announce our first Silver Sponsor of the conference, SBTech.”