Playtech announced yesterday that they have formed a joint venture with Scientific Games, a US company that has strategic ties with state lottery operators. Through the new partnership, Playtech will provide online gambling software for use in gaming terminals currently offered by Scientific Games in the UK. The venture places Playtech in a prime position to re-enter the US online gambling market should it open in the future.

Financial Times: Playtech gets ahead of the game

Playtech made a huge step forward in the global lottery market by sealing a deal with Scientific Games, a gaming services provider in the US. The deal gives Scientific Games access to government contracts, and provides a boost to its Videobet machines business.

As US state governments begin to legislate for online gambling, their local lottery operators need online casino, poker, bingo and other online gambling products to remain competitive.

Fortunately for Playtech, Scientific Games supplies lottery systems in 31 US jurisdictions. This gives Playtech a direct route into a market that it was forced to exit back in 2006, when the Bush administration closed the doors to online gambling in the US.

Playtech’s chief executive Mor Weizer said: “This secures our position in the US and provides a great opportunity if and when the US market is regulated.”

After the announcement, Playtech shares jumped 18% to 515p, bringing it back to levels last not seen since August 2008.

Wall Street Journal: Playtech Signs Joint Ventures With Scientific Games

Playtech Ltd., a designer, developer and licensor of software for the online and land-based gambling industry, recently announced the creation of a strategic partnership with New York-based Scientific Games Corp. The partnership will see the companies jointly develop and market next-generation online and land-based gambling products and services to regulated gaming operators in the US and abroad.

MAIN FACTS:

• The partnership will combine Playtech’s gambling software and portfolio of products with Scientific Games’ ability to provide services to government-sponsored gaming operators in regulated (and soon to be regulated) jurisdictions.
• An exclusive joint venture called ‘Sciplay’ will focus on the global online gambling market. It will use software Playtech’s technology together with Scientific Games’ global infrastructure and experience.
• Playtech will develop gambling terminal software for Scientific Games and its subsidiary The Global Draw, including upgrades to of existing terminals in the UK currently using the Videobet platform.

Reuters: Playtech forms joint venture with Scientific Games

Online gambling software provider Playtech just announced the formation of a strategic partnership with US-based lottery operator Scientific Games.

The joint venture is called Scriplay. A statement released yesterday by Playtech Chief Executive Mor Wizer and Scientific Games Chief Exectutive Mike Chambrello described how the venture will combine Playtech’s technological expertise with Scientific Games’ experience and strong relationships with US state lotteries.

The statement further explains that the companies will “jointly develop and market next-generation internet and land-based gaming products and services to regulated gaming operators in the U.S. and other countries”.

“We have highly complementary skill-sets allied with a global reach and this partnership provides the opportunity to leverage off this combined know-how to maximum effect.”

After the announcement, shares in Playtech were trading at 475.5 pence, up 9%, valuing the business at 1.14 billion pounds ($1.86 billion).

Playtech announced yesterday that they have formed a joint venture with Scientific Games, a US company that has strategic ties with state lottery operators. Through the new partnership, Playtech will provide online gambling software for use in gaming terminals currently offered by Scientific Games in the UK. The venture places Playtech in a prime position to re-enter the US online gambling market should it open in the future.

Financial Times: Playtech gets ahead of the game

Playtech made a huge step forward in the global lottery market by sealing a deal with Scientific Games, a gaming services provider in the US. The deal gives Scientific Games access to government contracts, and provides a boost to its Videobet machines business.

As US state governments begin to legislate for online gambling, their local lottery operators need online casino, poker, bingo and other online gambling products to remain competitive.

Fortunately for Playtech, Scientific Games supplies lottery systems in 31 US jurisdictions. This gives Playtech a direct route into a market that it was forced to exit back in 2006, when the Bush administration closed the doors to online gambling in the US.

Playtech’s chief executive Mor Weizer said: “This secures our position in the US and provides a great opportunity if and when the US market is regulated.”

After the announcement, Playtech shares jumped 18% to 515p, bringing it back to levels last not seen since August 2008.

Wall Street Journal: Playtech Signs Joint Ventures With Scientific Games

Playtech Ltd., a designer, developer and licensor of software for the online and land-based gambling industry, recently announced the creation of a strategic partnership with New York-based Scientific Games Corp. The partnership will see the companies jointly develop and market next-generation online and land-based gambling products and services to regulated gaming operators in the US and abroad.

MAIN FACTS:

• The partnership will combine Playtech’s gambling software and portfolio of products with Scientific Games’ ability to provide services to government-sponsored gaming operators in regulated (and soon to be regulated) jurisdictions.
• An exclusive joint venture called ‘Sciplay’ will focus on the global online gambling market. It will use software Playtech’s technology together with Scientific Games’ global infrastructure and experience.
• Playtech will develop gambling terminal software for Scientific Games and its subsidiary The Global Draw, including upgrades to of existing terminals in the UK currently using the Videobet platform.

Reuters: Playtech forms joint venture with Scientific Games

Online gambling software provider Playtech just announced the formation of a strategic partnership with US-based lottery operator Scientific Games.

The joint venture is called Scriplay. A statement released yesterday by Playtech Chief Executive Mor Wizer and Scientific Games Chief Exectutive Mike Chambrello described how the venture will combine Playtech’s technological expertise with Scientific Games’ experience and strong relationships with US state lotteries.

The statement further explains that the companies will “jointly develop and market next-generation internet and land-based gaming products and services to regulated gaming operators in the U.S. and other countries”.

“We have highly complementary skill-sets allied with a global reach and this partnership provides the opportunity to leverage off this combined know-how to maximum effect.”

After the announcement, shares in Playtech were trading at 475.5 pence, up 9%, valuing the business at 1.14 billion pounds ($1.86 billion).

PartyGaming reported an unexpected increase in forth-quarter revenues, marking the first time in the last year and a half that they have seen growth. They attributed the growth to several factors, including the introduction of new games in their bingo and casino sections, and to a better loyalty system in their poker site. A strengthening dollar may also have contributed to the increasing success of the site.

Times Online: Online gaming groups say they are on winning streak

Two of the largest online gaming groups in Britain revealed yesterday that players are returning to the tables. PartyGaming just saw better their best quarter since the second quarter of 2008, while Sportingbet saw a similar increase in revenues.

PartyGaming reported growth across all categories, including internet bingo and online casino. KBC Peel Hunt, a stockbroker and advisory house, projected a 24% rise in revenue compared to the fourth quarter of 2008, making this the first rise in the past year and a half.

The site’s poker tables saw the biggest increases. PartyGaming recently revamped site and has been working hard to introduce better loyalty bonuses. PartyGaming’s chief executive Jim Ryan states, “Returning poker to growth has been a key focus for us. We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues.”

Meanwhile, Sportingbet spread a similar statement yesterday, remarking that the strength of their online sportsbook, which provides nearly 70% of their total revenue, has been thriving.

Financial Times: PartyGaming flush with poker revival

Poker revenue at PartyGaming returned to growth during the last quarter of 2009, showing the first increase in the last six quarters.

In a trading update, the internet gambling group revealed that major European-based poker operators have been facing strong competition from dominant US groups Full Tilt and PokerStars, which are using their liquidity in the unregulated US market to increase their strength in the European market.

Morgan Stanley suggets three reasons to explain PartyGaming’s poker recovery: a more regulated European market; a stronger dollar; and the company’s ever-improving loyalty schemes.

PartyGaming did not mention their early-stage merger discussions with Bwin, its Austrian-based online gambling rival. The company did, however, announce a £35m three-year loan, which it intends to use for mergers and acquisitions.

In a similar announcement, Sportingbet stated that it was confident of a “satisfactory outcome” for the next financial year. Sports betting represents almost 70% of group’s revenues and will be the main force behind their growth.

The New York Times: PartyGaming Sees FY Earnings Up on Poker

Online gambling firm PartyGaming announced that fourth-quarter trading was solid, due to a return to growth in their online poker operations. The company things full-year earnings may beat their own expectations.

PartyGaming’s revenue is in line with forecasts, though clean earnings )before interest, tax, depreciation and amortization) are expected to be slightly ahead of projections.

PartyGaming said that both its online casino and internet bingo businesses were both performing well due to the introduction of new games, higher jackpot payouts, and their Cashcade acquisition back in July. In their sports betting operations, the company also benefited from a good run of results.

Analysts expect that PartyGaming will report EBITDA of about USD 132 million (GBP 81.4 million) for the fiscal year 2009, according to a Thomson Reuters I/B/E/S poll of eight brokers.

British media on Sunday revealed that PartyGaming is in discussions with Austria’s bwin Interactive Entertainment AG, but bwin downplayed the report, saying it was not in any advanced talks. PartyGaming did not comment on market speculation.

PartyGaming reported an unexpected increase in forth-quarter revenues, marking the first time in the last year and a half that they have seen growth. They attributed the growth to several factors, including the introduction of new games in their bingo and casino sections, and to a better loyalty system in their poker site. A strengthening dollar may also have contributed to the increasing success of the site.

Times Online: Online gaming groups say they are on winning streak

Two of the largest online gaming groups in Britain revealed yesterday that players are returning to the tables. PartyGaming just saw better their best quarter since the second quarter of 2008, while Sportingbet saw a similar increase in revenues.

PartyGaming reported growth across all categories, including internet bingo and online casino. KBC Peel Hunt, a stockbroker and advisory house, projected a 24% rise in revenue compared to the fourth quarter of 2008, making this the first rise in the past year and a half.

The site’s poker tables saw the biggest increases. PartyGaming recently revamped site and has been working hard to introduce better loyalty bonuses. PartyGaming’s chief executive Jim Ryan states, “Returning poker to growth has been a key focus for us. We are pleased to see that the initiatives introduced throughout the year are now feeding through into both operational and financial performance with increased player numbers and average net daily revenues.”

Meanwhile, Sportingbet spread a similar statement yesterday, remarking that the strength of their online sportsbook, which provides nearly 70% of their total revenue, has been thriving.

Financial Times: PartyGaming flush with poker revival

Poker revenue at PartyGaming returned to growth during the last quarter of 2009, showing the first increase in the last six quarters.

In a trading update, the internet gambling group revealed that major European-based poker operators have been facing strong competition from dominant US groups Full Tilt and PokerStars, which are using their liquidity in the unregulated US market to increase their strength in the European market.

Morgan Stanley suggets three reasons to explain PartyGaming’s poker recovery: a more regulated European market; a stronger dollar; and the company’s ever-improving loyalty schemes.

PartyGaming did not mention their early-stage merger discussions with Bwin, its Austrian-based online gambling rival. The company did, however, announce a £35m three-year loan, which it intends to use for mergers and acquisitions.

In a similar announcement, Sportingbet stated that it was confident of a “satisfactory outcome” for the next financial year. Sports betting represents almost 70% of group’s revenues and will be the main force behind their growth.

The New York Times: PartyGaming Sees FY Earnings Up on Poker

Online gambling firm PartyGaming announced that fourth-quarter trading was solid, due to a return to growth in their online poker operations. The company things full-year earnings may beat their own expectations.

PartyGaming’s revenue is in line with forecasts, though clean earnings )before interest, tax, depreciation and amortization) are expected to be slightly ahead of projections.

PartyGaming said that both its online casino and internet bingo businesses were both performing well due to the introduction of new games, higher jackpot payouts, and their Cashcade acquisition back in July. In their sports betting operations, the company also benefited from a good run of results.

Analysts expect that PartyGaming will report EBITDA of about USD 132 million (GBP 81.4 million) for the fiscal year 2009, according to a Thomson Reuters I/B/E/S poll of eight brokers.

British media on Sunday revealed that PartyGaming is in discussions with Austria’s bwin Interactive Entertainment AG, but bwin downplayed the report, saying it was not in any advanced talks. PartyGaming did not comment on market speculation.

Though still affected by the slumping worldwide economy, Sportingbet representatives were recently quite happy to announce the sportsbook’s profitable third-quarter results for the fiscal year. Key markets of Spain and Greece were unimpressive for Sportingbet, but a large influx from Australia proved to be the financial difference. The next year may be a bit difficult for the bookmaker, though, as new gambling laws in France are forcing the company’s withdrawal from that market.

Interactive Investor: Australia drives Sportingbet Q3

For the third quarter of its fiscal year, Sportingbet reported net gaming revenue to be up 29.8 percent to £55.7 million. Total bets in the period ending in April increased 22 percent to £521 million (approximately $750 million) wagered.

“Given the widely reported economic difficulties in Spain and Greece, which are two of our biggest markets,” said Sportingbet CEO Andrew McIver, “it is pleasing to report an 18 percent increase in profits.” Sportingbet business in Greece increased 8 percent, while Spain was stagnant for the bookmaker.

Sportingbet shares, which earlier in the week had hit a nine-month low at 57.5p, had rebounded by 3.7 percent to 62.5p on the morning of the announcement of results, valuing the company at £307 million.

McIver cited the advantages of geographical diversification business, and added that the company’s fourth quarter would be focused on the World Cup, repeating his comments of May that “much of how the remainder of this quarter performs will depend on the outcome of (the World Cup).”

In addressing next year’s results, Sportingbet stated that it would no longer be accepting bets from French players in light of the new licensing regulations for offshore online casino owners there. Sportingbet will apply for licensing in France, but due to the time involved plus some permanent loss of revenue, fiscal year 2011 is expected to be down for Sportingbet.

Financial Times: Australian profits drive Sportingbet

Since the Australian market showed in 19 percent raise in gross amount wagered in the third quarter of the fiscal year, Sportingbet was able to report a 13 percent jump in pre-tax profits.

Australian wagering at Sportingbet increased from £153.2 million to £182.1 million. Reasons given for the profitable quarter in Australia included “horse racing results that favored the bookmaker” and liberalization of advertising regulations in the country.

Sportingbet also reported weak intake from Spain and Greece, two markets that make up about 33 percent of Sportingbet revenue. For comparison, the bookmaker draws about 5 percent of its business from the U.K.

Sportingbet representatives also reported that they anticipate a further increase in revenues in the fourth quarter because of World Cup betting. Betting on soccer makes up 61 percent of sportsbook activity at Sportingbet.

Stock Markets Review: Sportingbet report Strong Q3 for sports and casino

Sportingbet’s fiscal results for quarter three were reported as strong, with net gaming revenue increasing 30 percent year-on-year (or 27 percent with exchange rate fluctuation taken into account). In addition to the excellent results in Australia, sports and casino growth in Europe was also called “strong.”

For Sportingbet, European sportsbook activity increased 21 percent YoY to £29.1 million. Casino gaming was up 17 percent to £11.6 million, with particular good results for the Sportingbet flash casino. Poker gaming at Sportingbet was down 10 percent YoY to £4.5 million.

With regard to the French market, Sportingbet indicated that it expected to receive sports, horseracing and poker licenses in early 2011 and that the company had already entered into marketing partnerships to advertise in “Le Monde” and “L’Express” newspapers.

Though still affected by the slumping worldwide economy, Sportingbet representatives were recently quite happy to announce the sportsbook’s profitable third-quarter results for the fiscal year. Key markets of Spain and Greece were unimpressive for Sportingbet, but a large influx from Australia proved to be the financial difference. The next year may be a bit difficult for the bookmaker, though, as new gambling laws in France are forcing the company’s withdrawal from that market.

Interactive Investor: Australia drives Sportingbet Q3

For the third quarter of its fiscal year, Sportingbet reported net gaming revenue to be up 29.8 percent to £55.7 million. Total bets in the period ending in April increased 22 percent to £521 million (approximately $750 million) wagered.

“Given the widely reported economic difficulties in Spain and Greece, which are two of our biggest markets,” said Sportingbet CEO Andrew McIver, “it is pleasing to report an 18 percent increase in profits.” Sportingbet business in Greece increased 8 percent, while Spain was stagnant for the bookmaker.

Sportingbet shares, which earlier in the week had hit a nine-month low at 57.5p, had rebounded by 3.7 percent to 62.5p on the morning of the announcement of results, valuing the company at £307 million.

McIver cited the advantages of geographical diversification business, and added that the company’s fourth quarter would be focused on the World Cup, repeating his comments of May that “much of how the remainder of this quarter performs will depend on the outcome of (the World Cup).”

In addressing next year’s results, Sportingbet stated that it would no longer be accepting bets from French players in light of the new licensing regulations for offshore online casino owners there. Sportingbet will apply for licensing in France, but due to the time involved plus some permanent loss of revenue, fiscal year 2011 is expected to be down for Sportingbet.

Financial Times: Australian profits drive Sportingbet

Since the Australian market showed in 19 percent raise in gross amount wagered in the third quarter of the fiscal year, Sportingbet was able to report a 13 percent jump in pre-tax profits.

Australian wagering at Sportingbet increased from £153.2 million to £182.1 million. Reasons given for the profitable quarter in Australia included “horse racing results that favored the bookmaker” and liberalization of advertising regulations in the country.

Sportingbet also reported weak intake from Spain and Greece, two markets that make up about 33 percent of Sportingbet revenue. For comparison, the bookmaker draws about 5 percent of its business from the U.K.

Sportingbet representatives also reported that they anticipate a further increase in revenues in the fourth quarter because of World Cup betting. Betting on soccer makes up 61 percent of sportsbook activity at Sportingbet.

Stock Markets Review: Sportingbet report Strong Q3 for sports and casino

Sportingbet’s fiscal results for quarter three were reported as strong, with net gaming revenue increasing 30 percent year-on-year (or 27 percent with exchange rate fluctuation taken into account). In addition to the excellent results in Australia, sports and casino growth in Europe was also called “strong.”

For Sportingbet, European sportsbook activity increased 21 percent YoY to £29.1 million. Casino gaming was up 17 percent to £11.6 million, with particular good results for the Sportingbet flash casino. Poker gaming at Sportingbet was down 10 percent YoY to £4.5 million.

With regard to the French market, Sportingbet indicated that it expected to receive sports, horseracing and poker licenses in early 2011 and that the company had already entered into marketing partnerships to advertise in “Le Monde” and “L’Express” newspapers.

UK’s largest sports betting company Ladbrokes has forged a deal with France’s largest pay-tv provider Canal+. Together the two will forge an online gambling and sports betting service for French players. The new service will launch later this year, and will attempt to lure Canal+ subscribers to Ladbrokes’ online gaming websites.

Financial Times: Ladbrokes tilts at French gambling market

Ladbrokes has entered France’s newly-regulated gambling market through a joint venture with Canal+, the pay-TV broadcaster. Together they will create a new internet betting and gaming service.

Through the operation, which is supported by an initial €2.25m (£1.97m) of funds from each partner, Ladbrokes will gain access to 12.5m subscribers of Canal+.

The terms of the deal demand that Ladbrokes refrain from operating any other online gambling operations in France until two years after the partnership ends.

Until recently, Ladbrokes was skeptical about the French market because tight regulations and steep tax rates. Operators are required to pay 7.5% tax of turnover on sports betting and horse racing, and 2% tax on poker turnover.

The new service will launch later this year, as long as it gets approved French regulators. France is new to the world of online gambling, and the government is pushing to get the new market up and running before the start of the football World Cup on June 11.

Ladbrokes and Canal+ will face a lot of competition in France’s new online gambling market. Other French groups have signed deals with brands like Betclick, PartyGaming, Paddy Power, and Everest Poker.

Reuters UK: Ladbrokes to launch French JV

The UK’s largest online bookmaker Ladbrokes has signed a joint venture agreement with Groupe CANAL+ to launch an online gambling and sports betting service in France.

The new service is set to launch by the end of the year, so long as the application is approved by French authorities. It will mark Ladbrokes’ first move into the French market in its 124-year history.

“We believe that there is an opportunity to build a good business in France over time as the market and regulation develop,” said Ladbrokes’ John O’Reilly.

Both Ladbrokes and CANAL+ are putting forth an initial €2.25 million to fund the 50:50 venture. Ladbrokes will provide its online gambling knowledge and technology, while CANAL+ will provide access to media, brand, and a large base of subscribers.

Times Online: Ladbrokes takes a punt on French venture

Ladbrokes is making a move on the French gambling market through a joint venture with Canal+, France’s top pay-TV company. Ladbrokes hopes to lure French gamblers to its website and through its new partner’s television channels.

France recently opened up its gambling market, breaking down the old Française des Jeux lottery monopoly.

“We currently have no presence in France,” said a Ladbrokes spokesperson. “It is a very competitive market but it is also a very big market. It will still be highly regulated but it is hoped that it will be further deregulated over time.

Ladbrokes and Canal+ are both putting up an initial €2.25 million (£1.97 million) into the 50:50 joint ventures. The contract also gives Canal+ the option to force Ladbrokes to buy its stake in five years.

Ladbrokes’ online gambling chief John O’Reilly said: “Canal+ is a brand synonymous with sport in France. We believe that there is an opportunity to build a good business in France over time as the market and regulation develop.”

UK’s largest sports betting company Ladbrokes has forged a deal with France’s largest pay-tv provider Canal+. Together the two will forge an online gambling and sports betting service for French players. The new service will launch later this year, and will attempt to lure Canal+ subscribers to Ladbrokes’ online gaming websites.

Financial Times: Ladbrokes tilts at French gambling market

Ladbrokes has entered France’s newly-regulated gambling market through a joint venture with Canal+, the pay-TV broadcaster. Together they will create a new internet betting and gaming service.

Through the operation, which is supported by an initial €2.25m (£1.97m) of funds from each partner, Ladbrokes will gain access to 12.5m subscribers of Canal+.

The terms of the deal demand that Ladbrokes refrain from operating any other online gambling operations in France until two years after the partnership ends.

Until recently, Ladbrokes was skeptical about the French market because tight regulations and steep tax rates. Operators are required to pay 7.5% tax of turnover on sports betting and horse racing, and 2% tax on poker turnover.

The new service will launch later this year, as long as it gets approved French regulators. France is new to the world of online gambling, and the government is pushing to get the new market up and running before the start of the football World Cup on June 11.

Ladbrokes and Canal+ will face a lot of competition in France’s new online gambling market. Other French groups have signed deals with brands like Betclick, PartyGaming, Paddy Power, and Everest Poker.

Reuters UK: Ladbrokes to launch French JV

The UK’s largest online bookmaker Ladbrokes has signed a joint venture agreement with Groupe CANAL+ to launch an online gambling and sports betting service in France.

The new service is set to launch by the end of the year, so long as the application is approved by French authorities. It will mark Ladbrokes’ first move into the French market in its 124-year history.

“We believe that there is an opportunity to build a good business in France over time as the market and regulation develop,” said Ladbrokes’ John O’Reilly.

Both Ladbrokes and CANAL+ are putting forth an initial €2.25 million to fund the 50:50 venture. Ladbrokes will provide its online gambling knowledge and technology, while CANAL+ will provide access to media, brand, and a large base of subscribers.

Times Online: Ladbrokes takes a punt on French venture

Ladbrokes is making a move on the French gambling market through a joint venture with Canal+, France’s top pay-TV company. Ladbrokes hopes to lure French gamblers to its website and through its new partner’s television channels.

France recently opened up its gambling market, breaking down the old Française des Jeux lottery monopoly.

“We currently have no presence in France,” said a Ladbrokes spokesperson. “It is a very competitive market but it is also a very big market. It will still be highly regulated but it is hoped that it will be further deregulated over time.

Ladbrokes and Canal+ are both putting up an initial €2.25 million (£1.97 million) into the 50:50 joint ventures. The contract also gives Canal+ the option to force Ladbrokes to buy its stake in five years.

Ladbrokes’ online gambling chief John O’Reilly said: “Canal+ is a brand synonymous with sport in France. We believe that there is an opportunity to build a good business in France over time as the market and regulation develop.”

UK-based football pools operator Sportech today struck an acquisition deal with Scientific Games Racing (SGR) worth as much as $83 million. SRG is a subsidiary of Scientific Games, which itself recently combined forces with gaming software provider Playtech. This three-way partnership will make the newly-enlarged Sportech one of the world leaders in pari-mutuel betting.

Times Online: Football pools operator gambles on $83m US deal

Sportech, a football pools operator, today sealed an $83 million (£51.4 million) acquisition deal with SGR, a US-based pari-mutuel betting company.

The new deal will allow Sportech to provide technology to the tote-betting operators at half of America’s racetracks, and will give them a direct window into tote betting operations in the state of Connecticut and the Netherlands.

Sportech is buying the business from Scientific Games Corporation for an initial sum of $65 million. Half will be paid in cash and the rest in Sportech shares issued at 50p. In the end, Scientific Games will hold a 19.99 per cent stake in the newly enlarged company.

Gaming software supplier Playtech also just announced a partnership with Scientific Games, and intends subscribe for shares as well. Playtech will emerge with a 9.99% stake in Sportech.

The acquisition comes shortly after Sportech’s entry into the Indian market by means of a joint venture with the country’s biggest gambling group.

Some are suggesting that the presence of both Scientific Games and Playtech together on the share register might spark merger speculation in upcoming years.

Sportstech chief exec Ian Penrose said: “If anything happens in the future, then we’ll deal with it, but at the moment we’ve got our hands full making all of this work.”

Financial Times: Sportech to buy US pool better

Sportech, a football pools and gaming business, just announced that it will soon be giving up close to a purchase one of the main providers of pool betting on horse racing in the US.

Liverpool-based Sportstech is paying $75m in cash and shares deal to acquire Scientific Games Racing (SGR), a division of the New York based gambling services provider Scientific Games.

SGR is the provider of pool betting systems for half all racetracks in North America, and is also the equivalent of the UK’s Tote in the US state of Connecticut and Holland.

The deal involves a $32m cash payment along with the placing of $33m of new shares that will be purchased by Scientific Games, which will come out of the deal holding a 20% stake in the expanded Sportech.

Playtech, an online gambling software provider which last week forged a joint venture deal with Scientific Games, is also contributing £10m. This will give them a stake of just under 10 per cent.

Sportech hopes that through the deal, they will become a major player in pari-mutuel betting across the globe, with the help of the technologies and networks that its new partners provide.

Ian Penrose, chief executive, said: “The transaction leaves us as a leading business in the global pari-mutuel marketplace, with representation in Europe and in North and South America.”

Mor Weizer, chief executive of Playtech, says: “We share many of Sportech’s goals in growing our business in regulated markets.”

Sportech shares dropped 2½p to 54p on Wednesday. Playtech shares fell marginally to 514p.

Reuters: Sportech buys SGR betting unit for up to $83 mln

British gaming company Sportech is to buy US racing and venue management business SGR from Scientific Games Corp for as much as $83 million in cash and shares as part of their drive to become a world leader in pari-mutuel betting.

Sportech will an initial $65 million in cash and shares, followed by $10 million in 2013, and up to $8 million more if SGR meets its targets over the next three years.

Pari-muteul or Pools betting is a sports gambling system where all bets are placed in a pool, and then payout odds are calculated by sharing the money in the pool with all winning bettors.

Piers Pottinger, chairman of Sportech, says: “This is a transformational transaction for Sportech. It catapults the business onto the international stage.”

Internet gaming software company Playtech intends to buy a 9.99 percent stake in the enlarged group, and has already signed a letter of intent to provide gaming products and services to the SGR business.

UK-based football pools operator Sportech today struck an acquisition deal with Scientific Games Racing (SGR) worth as much as $83 million. SRG is a subsidiary of Scientific Games, which itself recently combined forces with gaming software provider Playtech. This three-way partnership will make the newly-enlarged Sportech one of the world leaders in pari-mutuel betting.

Times Online: Football pools operator gambles on $83m US deal

Sportech, a football pools operator, today sealed an $83 million (£51.4 million) acquisition deal with SGR, a US-based pari-mutuel betting company.

The new deal will allow Sportech to provide technology to the tote-betting operators at half of America’s racetracks, and will give them a direct window into tote betting operations in the state of Connecticut and the Netherlands.

Sportech is buying the business from Scientific Games Corporation for an initial sum of $65 million. Half will be paid in cash and the rest in Sportech shares issued at 50p. In the end, Scientific Games will hold a 19.99 per cent stake in the newly enlarged company.

Gaming software supplier Playtech also just announced a partnership with Scientific Games, and intends subscribe for shares as well. Playtech will emerge with a 9.99% stake in Sportech.

The acquisition comes shortly after Sportech’s entry into the Indian market by means of a joint venture with the country’s biggest gambling group.

Some are suggesting that the presence of both Scientific Games and Playtech together on the share register might spark merger speculation in upcoming years.

Sportstech chief exec Ian Penrose said: “If anything happens in the future, then we’ll deal with it, but at the moment we’ve got our hands full making all of this work.”

Financial Times: Sportech to buy US pool better

Sportech, a football pools and gaming business, just announced that it will soon be giving up close to a purchase one of the main providers of pool betting on horse racing in the US.

Liverpool-based Sportstech is paying $75m in cash and shares deal to acquire Scientific Games Racing (SGR), a division of the New York based gambling services provider Scientific Games.

SGR is the provider of pool betting systems for half all racetracks in North America, and is also the equivalent of the UK’s Tote in the US state of Connecticut and Holland.

The deal involves a $32m cash payment along with the placing of $33m of new shares that will be purchased by Scientific Games, which will come out of the deal holding a 20% stake in the expanded Sportech.

Playtech, an online gambling software provider which last week forged a joint venture deal with Scientific Games, is also contributing £10m. This will give them a stake of just under 10 per cent.

Sportech hopes that through the deal, they will become a major player in pari-mutuel betting across the globe, with the help of the technologies and networks that its new partners provide.

Ian Penrose, chief executive, said: “The transaction leaves us as a leading business in the global pari-mutuel marketplace, with representation in Europe and in North and South America.”

Mor Weizer, chief executive of Playtech, says: “We share many of Sportech’s goals in growing our business in regulated markets.”

Sportech shares dropped 2½p to 54p on Wednesday. Playtech shares fell marginally to 514p.

Reuters: Sportech buys SGR betting unit for up to $83 mln

British gaming company Sportech is to buy US racing and venue management business SGR from Scientific Games Corp for as much as $83 million in cash and shares as part of their drive to become a world leader in pari-mutuel betting.

Sportech will an initial $65 million in cash and shares, followed by $10 million in 2013, and up to $8 million more if SGR meets its targets over the next three years.

Pari-muteul or Pools betting is a sports gambling system where all bets are placed in a pool, and then payout odds are calculated by sharing the money in the pool with all winning bettors.

Piers Pottinger, chairman of Sportech, says: “This is a transformational transaction for Sportech. It catapults the business onto the international stage.”

Internet gaming software company Playtech intends to buy a 9.99 percent stake in the enlarged group, and has already signed a letter of intent to provide gaming products and services to the SGR business.

Anurag Dikshit, one of India’s richest men and co-founder of online gambling giant PartyGaming, has just sold his remaining share in the company. Dikshit’s history with PartyGaming includes a legal battle with the US Department of Justice in 2008. The sale generated over 100 million pounds, which Dikshit intends to give to his charitable organization.

Financial Times: Dikshit sells remaining stake in PartyGaming

Anurag Dikshit, the co-founder of the online gambling company PartyGaming, has just sold the remainder of his stake in the group that he started in 1997.

In brief statement to the stock exchange, Dikshit’s vehicle Crystal Ventures said that it had sold the remaining 9% stake of about 38.8m shares at a rate of 270p per share. The shares were sold via an accelerated bookbuilt offering available only to institutional investors.

The sale came just days after Partygaming announced it was in preliminary discussions with several other companies in the industry regarding possible consolidation. Among those including in the talks is Bwin, an Austrian-based online gambling group.

In 2006 Dikshit stepped down from the board at Partygaming. Back in October, he sold two-thirds of his stake in the company for £188m, which he then donated to his charitable foundation.

Dikshit paid authorities $300m (£183m) after pleading guilty to an online gambling charge in the US in 2008. Taking this money into account, Dikshit has gained about £540m since PartyGaming floated in June 2005.

Bloomberg: PartyGaming Founder Dikshit Sells Remaining Stake

PartyGaming founder Anurag Dikshit sold his remaining stake in the PartyPoker online gambling site that he helped start in back 1997. After the sale, shares fell as much as 7% in London trading.

Dikshit sold 38.8 million shares for 270 pence per share to institutional investors through an accelerated bookbuild. The sale of the 9.5% holding generated about 105 million pounds.

This liquidation follows Dikshit’s sale of two-thirds of his stake already in October. “This is simply about moving on,” said Shimon Cohen, his spokesman. “It’s been a process over four years since he first withdrew from the board. And that’s now it.”

In December 2008, Dikshit pleaded guilty to involvement in unlawful online gambling operations in the U.S., and agreed to cooperate with the US Justice Department in its probe of his company. He paid $300 million in fines, and is scheduled to be sentenced in December.

“It’s brought its fair share of issues,” Cohen said. “We have the court hearing and sentencing still hanging over us. Anurag voluntarily went to America and pled guilty so that he could move on.”

PartyGaming shares fell as much as 20.5 pence to 273 pence, and traded at 276.4 pence at 9:23 a.m. in London, giving the company a total market value of 1.12 billion pounds ($1.82 billion).

Telegraph: PartyGaming founder Anurag Dikshit severs ties with company after £114m share sale

Indian software expert Anurag Dikshit asked Goldman Sachs to sell his remaining 38.8m shares in the online gambling operator PartyGaming via a bookbuilding exercise. The sale follows a similar move last October when Dikshit sold a £188m holding in the company. PartyGaming shares rose 8 to 293.5p.

Mr Dikshit was responsible for developing PartyGaming’s online gaming software, but he became concerned about the company’s operations being declared illegal in America when laws changed in 2006. The US was once PartyGaming’s biggest market.

In December 2008, under pressure from the US Department of Justice, Dikshit pleaded guilty to breaking US gambling laws and agreed to pay a fine of $300m (£185m). Dikshit may still face a two-year jail.

One of the richest men in India, Dikshit is estimated to have already taken out more than £700m from the company since its float in 2005, though most of it is has been donated to his charitable trust.

Last week, PartyGaming confirmed that it is “continuing to hold discussions with a number of companies in the gaming sector regarding potential consolidation opportunities”, including a possible tie-up with Austrian rival Bwin.

Anurag Dikshit, one of India’s richest men and co-founder of online gambling giant PartyGaming, has just sold his remaining share in the company. Dikshit’s history with PartyGaming includes a legal battle with the US Department of Justice in 2008. The sale generated over 100 million pounds, which Dikshit intends to give to his charitable organization.

Financial Times: Dikshit sells remaining stake in PartyGaming

Anurag Dikshit, the co-founder of the online gambling company PartyGaming, has just sold the remainder of his stake in the group that he started in 1997.

In brief statement to the stock exchange, Dikshit’s vehicle Crystal Ventures said that it had sold the remaining 9% stake of about 38.8m shares at a rate of 270p per share. The shares were sold via an accelerated bookbuilt offering available only to institutional investors.

The sale came just days after Partygaming announced it was in preliminary discussions with several other companies in the industry regarding possible consolidation. Among those including in the talks is Bwin, an Austrian-based online gambling group.

In 2006 Dikshit stepped down from the board at Partygaming. Back in October, he sold two-thirds of his stake in the company for £188m, which he then donated to his charitable foundation.

Dikshit paid authorities $300m (£183m) after pleading guilty to an online gambling charge in the US in 2008. Taking this money into account, Dikshit has gained about £540m since PartyGaming floated in June 2005.

Bloomberg: PartyGaming Founder Dikshit Sells Remaining Stake

PartyGaming founder Anurag Dikshit sold his remaining stake in the PartyPoker online gambling site that he helped start in back 1997. After the sale, shares fell as much as 7% in London trading.

Dikshit sold 38.8 million shares for 270 pence per share to institutional investors through an accelerated bookbuild. The sale of the 9.5% holding generated about 105 million pounds.

This liquidation follows Dikshit’s sale of two-thirds of his stake already in October. “This is simply about moving on,” said Shimon Cohen, his spokesman. “It’s been a process over four years since he first withdrew from the board. And that’s now it.”

In December 2008, Dikshit pleaded guilty to involvement in unlawful online gambling operations in the U.S., and agreed to cooperate with the US Justice Department in its probe of his company. He paid $300 million in fines, and is scheduled to be sentenced in December.

“It’s brought its fair share of issues,” Cohen said. “We have the court hearing and sentencing still hanging over us. Anurag voluntarily went to America and pled guilty so that he could move on.”

PartyGaming shares fell as much as 20.5 pence to 273 pence, and traded at 276.4 pence at 9:23 a.m. in London, giving the company a total market value of 1.12 billion pounds ($1.82 billion).

Telegraph: PartyGaming founder Anurag Dikshit severs ties with company after £114m share sale

Indian software expert Anurag Dikshit asked Goldman Sachs to sell his remaining 38.8m shares in the online gambling operator PartyGaming via a bookbuilding exercise. The sale follows a similar move last October when Dikshit sold a £188m holding in the company. PartyGaming shares rose 8 to 293.5p.

Mr Dikshit was responsible for developing PartyGaming’s online gaming software, but he became concerned about the company’s operations being declared illegal in America when laws changed in 2006. The US was once PartyGaming’s biggest market.

In December 2008, under pressure from the US Department of Justice, Dikshit pleaded guilty to breaking US gambling laws and agreed to pay a fine of $300m (£185m). Dikshit may still face a two-year jail.

One of the richest men in India, Dikshit is estimated to have already taken out more than £700m from the company since its float in 2005, though most of it is has been donated to his charitable trust.

Last week, PartyGaming confirmed that it is “continuing to hold discussions with a number of companies in the gaming sector regarding potential consolidation opportunities”, including a possible tie-up with Austrian rival Bwin.