In anticipating of a potential opening of the US online gambling market, Unibet PLC has paid $2.25 million for a 25.9% share in bingo.com. The private placement comes shortly after bingo.com switched to Unibet’s online bingo and casino network. Unibet has also announced its intention to apply for a license to operate in France.

Wall Street Journal Market Watch: Bingo.com Closes $2,250,000 Private Placement from Unibet

Bingo.com, Ltd., owner of the online gaming site www.bingo.com, announced yesterday that it closed a private placement from Unibet Group plc, selling 15 million common shares at $0.15 apiece, raising net proceeds of $2,250,000. The placement represents 25.9% Bingo.com.

“Bingo.com is pleased to have secured a private placement from Unibet,” said Bingo.com’s CEO Tarrnie Williams. “With one of the World’s leading gaming operators as both an investor and operational partner, Bingo.com will now have the resources to support its brand in a number of emerging online bingo markets. We very much look forward to taking on a leading role in the expansion of online bingo worldwide.”

Unibet CEO Petter Nylander was equally positive. “Investing in Bingo.com, one of the strongest bingo brand names in the industry, is exciting for us. We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come. We look forward to growing our businesses together in existing and new markets.”

Unibet recently developed turn-key online gaming platform, offering partners to be part of their online casino and bingo network.

Business Wire: Unibet Group plc – Interim report January – March 2010

During the first quarter of 2010 Unibet Group plc saw continued growth in terms of gross winnings revenue as well as active customers. Their live betting offerings together with live event streaming and the Unibet Mobile platform have all been important driving factors in recent months.

April also shows very good figures, with average daily gross revenue up over the average daily gross revenue for the previous three months.

Unibet recently decided to apply for a licence to operate in France after the recent opening of their online gambling market. The exact terms of licences in the country have yet to be revealed, but 2010 earnings are not expected to be significant. This change in the regulatory situation renders the group’s financial goals for 2010 obsolete. Given the uncertainty regarding France, Unibet CEO Petter Nylande says it will be challenging to outperform 2009.

Lastly, in preparation for the possible opening of the US online gambling market, Unibet has acquired 25.9% of the NASDAQ listed company Bingo.com through a private placement of $2.25 million.

eGaming Review: Unibet wagers on legal US egaming with Bingo.com stake

UNIBET just acquired a quarter of NASDAQ-listed Bingo.com in hopes that the US online gambling market will soon open up once again.

The Swedish operator now owns a 25.9% stake in the business, acquired through a private placement for $2.25m. The move follows just two months after Bingo.com joined Unibet’s online bingo and casino network in March.

Petter Nylander, chief executive of Unibet, said: “We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come.”

Unibet also just announced its intention to apply for a licence to operate in the recently-opened French egaming market.

In anticipating of a potential opening of the US online gambling market, Unibet PLC has paid $2.25 million for a 25.9% share in bingo.com. The private placement comes shortly after bingo.com switched to Unibet’s online bingo and casino network. Unibet has also announced its intention to apply for a license to operate in France.

Wall Street Journal Market Watch: Bingo.com Closes $2,250,000 Private Placement from Unibet

Bingo.com, Ltd., owner of the online gaming site www.bingo.com, announced yesterday that it closed a private placement from Unibet Group plc, selling 15 million common shares at $0.15 apiece, raising net proceeds of $2,250,000. The placement represents 25.9% Bingo.com.

“Bingo.com is pleased to have secured a private placement from Unibet,” said Bingo.com’s CEO Tarrnie Williams. “With one of the World’s leading gaming operators as both an investor and operational partner, Bingo.com will now have the resources to support its brand in a number of emerging online bingo markets. We very much look forward to taking on a leading role in the expansion of online bingo worldwide.”

Unibet CEO Petter Nylander was equally positive. “Investing in Bingo.com, one of the strongest bingo brand names in the industry, is exciting for us. We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come. We look forward to growing our businesses together in existing and new markets.”

Unibet recently developed turn-key online gaming platform, offering partners to be part of their online casino and bingo network.

Business Wire: Unibet Group plc – Interim report January – March 2010

During the first quarter of 2010 Unibet Group plc saw continued growth in terms of gross winnings revenue as well as active customers. Their live betting offerings together with live event streaming and the Unibet Mobile platform have all been important driving factors in recent months.

April also shows very good figures, with average daily gross revenue up over the average daily gross revenue for the previous three months.

Unibet recently decided to apply for a licence to operate in France after the recent opening of their online gambling market. The exact terms of licences in the country have yet to be revealed, but 2010 earnings are not expected to be significant. This change in the regulatory situation renders the group’s financial goals for 2010 obsolete. Given the uncertainty regarding France, Unibet CEO Petter Nylande says it will be challenging to outperform 2009.

Lastly, in preparation for the possible opening of the US online gambling market, Unibet has acquired 25.9% of the NASDAQ listed company Bingo.com through a private placement of $2.25 million.

eGaming Review: Unibet wagers on legal US egaming with Bingo.com stake

UNIBET just acquired a quarter of NASDAQ-listed Bingo.com in hopes that the US online gambling market will soon open up once again.

The Swedish operator now owns a 25.9% stake in the business, acquired through a private placement for $2.25m. The move follows just two months after Bingo.com joined Unibet’s online bingo and casino network in March.

Petter Nylander, chief executive of Unibet, said: “We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come.”

Unibet also just announced its intention to apply for a licence to operate in the recently-opened French egaming market.

Gambling revenue in the great gambling state of Nevada has been all over the place over the last couple of months, but most notably in the gutter relative to the past. I bit of hope has once again been pumped into the system in that February gambling resulted in revenue gains being in the double digits.

The Associated Press: Nevada casino winnings jump 14 percent in February

According to casino regulators, special events in February attracted gamblers to the Las Vegas Strip and helped push statewide gambling winnings up almost 14%. The Gaming Control Board said casinos’ winnings went up to $946.6 million, compared with last year’s $831 million.

The increase was driven by the Strip, where casinos won around $568 million. It’s the largest increase in casino wins on the Strip since November 1999. February’s statewide posting is the largest monthly casino win increase since December 2006 and the first double-digit increase since July 2007. Las Vegas Strip casinos account for roughly 50 percent of statewide gambling revenues.

Casinos in northern Nevada’s Washoe County reported winning $60.9 million, up 2.7 percent for the first monthly increase in 32 months, Streshley said. In Reno, the $43.9 million was an increase of 4 percent.

Reuters: Casino shares up as Nevada gaming revenues rise

MGM Mirage and other casino operators’ shares shot above their year highs on Thursday after Nevada posted a double-digit percentage increase in gaming revenues for February.

On Thursday, The Nevada Gaming Control Board announced that total gaming revenues were up to $946.6 million in February, up 13.9% from the same month a year ago. Gaming revenues on the Las Vegas Strip came to nearly $568 million for the month, up 32.9% from the year earlier.

In a note to clients J.P. Morgan analyst, Joseph Greff, said:”We think results were helped by the timing of Chinese New Year,” which was celebrated in February this year as opposed to January for last year.

MGM Mirage shares were up 8.8 percent to $14.53, above their previous 52-week high of $14.25. Rival Las Vegas Sands gained 5.9 percent to $24.29 and Wynn Resorts shares were up 5.4 percent to $86.04.

Bloomberg Business Week: Las Vegas Strip Casino Revenue Soared 33% in February

Las Vegas Strip gambling revenue jumped 33% in February as baccarat play by Chinese New Year’s revelers boosted winnings. Strip revenue hit $568 million from $427.4 million in 2009 according to Nevada’s Gaming Control Board.

All Nevada’s casino revenue climbed 14% to $946.6 million. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, grew 16% to $827.8 million. The Chinese New Year is an important event in Las Vegas because visitors stay longer and spend more than average.

MGM Mirage jumped $1.38, or 10%, to $14.73 at 4:15 p.m. in the New York Stock Exchange composite trading, the biggest advance since September. Las Vegas Sands gained $1.30, or 5.7%, to $24.23. Wynn Resorts Ltd. added $4.57, or 5.6%, to $86.23 on the Nasdaq.

Gambling revenue in the great gambling state of Nevada has been all over the place over the last couple of months, but most notably in the gutter relative to the past. I bit of hope has once again been pumped into the system in that February gambling resulted in revenue gains being in the double digits.

The Associated Press: Nevada casino winnings jump 14 percent in February

According to casino regulators, special events in February attracted gamblers to the Las Vegas Strip and helped push statewide gambling winnings up almost 14%. The Gaming Control Board said casinos’ winnings went up to $946.6 million, compared with last year’s $831 million.

The increase was driven by the Strip, where casinos won around $568 million. It’s the largest increase in casino wins on the Strip since November 1999. February’s statewide posting is the largest monthly casino win increase since December 2006 and the first double-digit increase since July 2007. Las Vegas Strip casinos account for roughly 50 percent of statewide gambling revenues.

Casinos in northern Nevada’s Washoe County reported winning $60.9 million, up 2.7 percent for the first monthly increase in 32 months, Streshley said. In Reno, the $43.9 million was an increase of 4 percent.

Reuters: Casino shares up as Nevada gaming revenues rise

MGM Mirage and other casino operators’ shares shot above their year highs on Thursday after Nevada posted a double-digit percentage increase in gaming revenues for February.

On Thursday, The Nevada Gaming Control Board announced that total gaming revenues were up to $946.6 million in February, up 13.9% from the same month a year ago. Gaming revenues on the Las Vegas Strip came to nearly $568 million for the month, up 32.9% from the year earlier.

In a note to clients J.P. Morgan analyst, Joseph Greff, said:”We think results were helped by the timing of Chinese New Year,” which was celebrated in February this year as opposed to January for last year.

MGM Mirage shares were up 8.8 percent to $14.53, above their previous 52-week high of $14.25. Rival Las Vegas Sands gained 5.9 percent to $24.29 and Wynn Resorts shares were up 5.4 percent to $86.04.

Bloomberg Business Week: Las Vegas Strip Casino Revenue Soared 33% in February

Las Vegas Strip gambling revenue jumped 33% in February as baccarat play by Chinese New Year’s revelers boosted winnings. Strip revenue hit $568 million from $427.4 million in 2009 according to Nevada’s Gaming Control Board.

All Nevada’s casino revenue climbed 14% to $946.6 million. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, grew 16% to $827.8 million. The Chinese New Year is an important event in Las Vegas because visitors stay longer and spend more than average.

MGM Mirage jumped $1.38, or 10%, to $14.73 at 4:15 p.m. in the New York Stock Exchange composite trading, the biggest advance since September. Las Vegas Sands gained $1.30, or 5.7%, to $24.23. Wynn Resorts Ltd. added $4.57, or 5.6%, to $86.23 on the Nasdaq.