Wearing a costume when picking up lottery jackpot seems to have become a weird tradition in China.

The latest gambling news reported that a Chinese lottery winner decided to celebrate his lucky win in style. Well… we wouldn’t quite call it “style”, but it was certainly special. The man put on a bear costume for the ceremony where he was handed the lottery cheque.

He wasn’t the only one to wear a special outfit when appearing in front of the cameras. A few months ago, a person dressed up as Mickey Mouse took home 398 million yuan, and in 2011 another lucky winner took the big 565 million yuan jackpot disguised as a panda. Others wore superhero masks to look like Power Rangers, Batman or Spiderman.

Apart from the lottery, China doesn’t allow gambling. But the prizes people win with lottery tickets would stir the envy of any casino winner. The latest prize is worth $84.8 million.

Lottery Post: Chinese lottery winner claims jackpot in bear costume

After winning the lottery in China, a man from Shanxi disguised himself as a silly cartoon bear to pick up his giant check worth 520 million yuan ($84.8 million). The man provided one of the most exciting press conferences this year and consequently appeared on several online news pages.

The RMB 520 million-cheque was issued by the welfare lottery of the Shanxi province and is the third largest jackpot handed out in the country’s history. The winner told reporters that he spent between 20,000 and 30,000 RMB ($3,250 – $4,900) on lottery tickets every year.

The odd tradition of wearing ridiculous costumes when picking up over-sized checks dates back 25 or so years. In August, Mickey Mouse won 398 million yuan, and in 2011 a panda took home a 565 million yuan jackpot.

It is believed that lottery winners disguise themselves in order to avoid being recognized by family, friends, enemies or the government, when their image is broadcasted on local television.

People Daily: ‘Mickey Mouse’ in Shandong wins a 400 million lottery

On August 11, 2014, the Sports Lottery Center in Shandong handed out a 397.6 million-yuan cheque to another big winner. At the interview, the man showed up dressed in a Mickey Mouse costume. He also used a device to change his voice.

The man has been buying sports lottery tickets for years, and told reporters that participating in the draw is the first step to winning. Despite being rich now, the man said he is planning to lead a normal life. He added that he would become more involved in charitable causes and try to lend a helping hand to those in need.

Zhang Yunhai, a manger in Sports Lottery Center of Shandong told reporters: “With a good heart, the winner voluntarily donated 20 million RMB to found a Sports Lottery Fund to help people in need in the society.”

This was the biggest lottery prize won in Shandong Province so far, and among the highest awarded in all of China.

What’s On Tianjin: China’s largest lottery winner claims US$88.5m prize in panda costume

34 days after hitting an amazing jackpot, a lottery winner showed up to claim his prize wearing a huge panda helmet. The winner is a 40-year-old self-employed businessman who lives in Shaoxing, Zhejiang province and has broken several lottery records.

The panda scored the biggest lottery prize awarded in China so far, worth a total 565 million yuan ($88.5 million). After paying 109 million yuan ($17.08 million) in taxes, he was left with a prize of 436 million yuan ($68.34 million). Out of that amount, 20 million yuan ($3.13 million) were donated to local charities helping the poor children and the elderly. The man then promised to continue giving money every year.

He seemed to have a very relaxed attitude towards his huge lottery win, as he waited over a month before actually claiming the money. In an interview with the local newspaper, he added that he’d been playing the lottery for 11 years and he often forgets to check the winning numbers. For a long time, he wasn’t even aware what huge prize awaited him.

The numbers on his winning ticket were chosen according to his schedule that day: he got up at 6, had breakfast at 7 and spent 9 yuan on breakfast.

Wall Street Journal: Batman Wins Chinese Lottery

Every week, Chinese newspapers have a story on a lottery winner who showed up to claim his prize in a costume. While some of them wear simple sunglasses or face masks, or just pull their hoods over their heads to avoid being recognized, others mix things up by dressing up as Batman or a medieval knight.

This isn’t at all a practical joke, but rather a “street-smart” etiquette in China. As people can take up to tens of millions of dollars in winnings, having that much money can also attract trouble. Whether it’s because they want to avoid getting threatening phone calls, or simply don’t want to be in the public’s attention, wearing disguises is the solution lottery winners have come up with.

Ironically, wearing such ridiculous costumes has brought these people in the center of attention, as bloggers and online news sites are now talking about their costumes, posting photos and choosing their favorite ones.

Wearing a costume when picking up lottery jackpot seems to have become a weird tradition in China.

The latest gambling news reported that a Chinese lottery winner decided to celebrate his lucky win in style. Well… we wouldn’t quite call it “style”, but it was certainly special. The man put on a bear costume for the ceremony where he was handed the lottery cheque.

He wasn’t the only one to wear a special outfit when appearing in front of the cameras. A few months ago, a person dressed up as Mickey Mouse took home 398 million yuan, and in 2011 another lucky winner took the big 565 million yuan jackpot disguised as a panda. Others wore superhero masks to look like Power Rangers, Batman or Spiderman.

Apart from the lottery, China doesn’t allow gambling. But the prizes people win with lottery tickets would stir the envy of any casino winner. The latest prize is worth $84.8 million.

Lottery Post: Chinese lottery winner claims jackpot in bear costume

After winning the lottery in China, a man from Shanxi disguised himself as a silly cartoon bear to pick up his giant check worth 520 million yuan ($84.8 million). The man provided one of the most exciting press conferences this year and consequently appeared on several online news pages.

The RMB 520 million-cheque was issued by the welfare lottery of the Shanxi province and is the third largest jackpot handed out in the country’s history. The winner told reporters that he spent between 20,000 and 30,000 RMB ($3,250 – $4,900) on lottery tickets every year.

The odd tradition of wearing ridiculous costumes when picking up over-sized checks dates back 25 or so years. In August, Mickey Mouse won 398 million yuan, and in 2011 a panda took home a 565 million yuan jackpot.

It is believed that lottery winners disguise themselves in order to avoid being recognized by family, friends, enemies or the government, when their image is broadcasted on local television.

People Daily: ‘Mickey Mouse’ in Shandong wins a 400 million lottery

On August 11, 2014, the Sports Lottery Center in Shandong handed out a 397.6 million-yuan cheque to another big winner. At the interview, the man showed up dressed in a Mickey Mouse costume. He also used a device to change his voice.

The man has been buying sports lottery tickets for years, and told reporters that participating in the draw is the first step to winning. Despite being rich now, the man said he is planning to lead a normal life. He added that he would become more involved in charitable causes and try to lend a helping hand to those in need.

Zhang Yunhai, a manger in Sports Lottery Center of Shandong told reporters: “With a good heart, the winner voluntarily donated 20 million RMB to found a Sports Lottery Fund to help people in need in the society.”

This was the biggest lottery prize won in Shandong Province so far, and among the highest awarded in all of China.

What’s On Tianjin: China’s largest lottery winner claims US$88.5m prize in panda costume

34 days after hitting an amazing jackpot, a lottery winner showed up to claim his prize wearing a huge panda helmet. The winner is a 40-year-old self-employed businessman who lives in Shaoxing, Zhejiang province and has broken several lottery records.

The panda scored the biggest lottery prize awarded in China so far, worth a total 565 million yuan ($88.5 million). After paying 109 million yuan ($17.08 million) in taxes, he was left with a prize of 436 million yuan ($68.34 million). Out of that amount, 20 million yuan ($3.13 million) were donated to local charities helping the poor children and the elderly. The man then promised to continue giving money every year.

He seemed to have a very relaxed attitude towards his huge lottery win, as he waited over a month before actually claiming the money. In an interview with the local newspaper, he added that he’d been playing the lottery for 11 years and he often forgets to check the winning numbers. For a long time, he wasn’t even aware what huge prize awaited him.

The numbers on his winning ticket were chosen according to his schedule that day: he got up at 6, had breakfast at 7 and spent 9 yuan on breakfast.

Wall Street Journal: Batman Wins Chinese Lottery

Every week, Chinese newspapers have a story on a lottery winner who showed up to claim his prize in a costume. While some of them wear simple sunglasses or face masks, or just pull their hoods over their heads to avoid being recognized, others mix things up by dressing up as Batman or a medieval knight.

This isn’t at all a practical joke, but rather a “street-smart” etiquette in China. As people can take up to tens of millions of dollars in winnings, having that much money can also attract trouble. Whether it’s because they want to avoid getting threatening phone calls, or simply don’t want to be in the public’s attention, wearing disguises is the solution lottery winners have come up with.

Ironically, wearing such ridiculous costumes has brought these people in the center of attention, as bloggers and online news sites are now talking about their costumes, posting photos and choosing their favorite ones.

Build at a cost of $2.4 billion two years ago, the Revel Casino was bought by a Canadian company at a price of just $110 million.

About 8,000 Atlantic City casino employees have lost their jobs so far this year, but there’s new hope for them now that the Revel Casino Hotel has a new owner. Toronto-based Brookfield Asset Management has won the auction for the now bankrupt venue, with an offer of $110 million.

After filing for bankruptcy for the second time since it opened in 2012, the Revel finally closed its doors on September 2. The casino had been in business for just two years, and is one of four Atlantic City gambling venues to shut down this year.

According to gambling news, the Trump Taj Mahal may be the fifth one, with owners threatening to close it on November 13.

CBC News: Brookfield submits top bid for closed Atlantic City casino Revel

Brookfield Asset Management, a company based in Toronto, has won the auction for the Revel Casino Hotel located in New Jersey’s Atlantic City, with a bid of $110 million. The casino filed for bankruptcy earlier this year and was looking for a new buyer.

Although the initial deadline was Monday, the auction was extended into its third day on Wednesday. This was when Brookfield was revealed as the company that submitted the winning bid. Having $200 billion in assets under management, the Canadian company owns the Hard Rock Hotel and Casino in Las Vegas, as well as the Atlantis Paradise Island in the Bahamas.

“Revel is a brand new trophy asset on the beachfront, which we are acquiring at a substantial discount to replacement cost,” company spokesman Andy Willis told the press.

“We’re not currently in a position to discuss the business plan as we continue to explore various options [but] we will be in discussions with all parties and partners involved to formulate a feasible plan that ensures the long term viability of this property as a resort destination.”

Along with Brookfield, several other companies have been trying to get their hands on the casino. The gambling venue cost $2.4 billion to build, so the price Brookfield paid was much lower. Its original bid was at $98 million, but the company sweetened the offer to $98 million in order to secure the deal.

RTT News: WSJ: Brookfield Among Four Bidders Vying For Atlantic City’s Revel Casino

Four bidders competed in an auction to acquire Atlantic City’s Revel casino and hotel, after the business went bankrupt this year.

Canadian company Brookfield Asset Management, who owns the Hard Rock Hotel and Casino in Las Vegas, was the front runner in the auction, according to an article published in the Wall Street Journal on Tuesday. The company has topped Florida-based real estate developer Glenn Straub’s $90 million bid.

Straub offered to buy Revel casino hotel in a $90 million deal that was supposed to help the casino exit bankruptcy. For some time, he was the lead bidder, but now other takers have stepped up with better solutions. Apart from Brookfield, the casino’s management has received offers from a real estate investor from the Meruelo family, Richard Meruelo, and from a New Jersey real estate developer.

According to Revel’s bankruptcy filing, the casino’s value dropped from $2.4 billion to as low as $450 million. Experts predicted that the business would not be able to get back on its feet until 2017. The Revel was never among the city’s most profitable venues; it has had financial troubles ever since it opened to huge fanfare in April 2012, with a $2.4 billion investment.

By June 2014, the Revel was filing for bankruptcy for the second time, and on September 2 the casino closed because it had received no suitable bids to recover from its financial problems.

Wall Street Journal: Four Bidders Vying for Atlantic City’s Revel Casino

Things are heating up at the auction to sell the now bankrupt Revel Casino in Atlantic City. Newspapers wrote the auction has been shrouded in secrecy from the very beginning, sparking a dispute between the casino and lead bidder Glenn Straub.

“Our topping offer of $95 million will also contain terms giving priority to workers who lost their jobs when Revel shut down,” Straub’s lawyer Craig Galle explained. According to the attorney, the Florida-based developer “is committed to helping employees and their families that were affected by the Revel bankruptcy.”

An affiliate of Brookfield Asset Management has recently entered the bidding, topping the initial $90 million offer. However, if Straub loses the auction, he is entitled to a $3 million breakup fee for serving as the lead bidder.

The real estate developer’s attorneys are claiming Revel has broken an earlier agreement to disclose information about competing bids. “Any degree of confidence in [Revel’s lawyers’] ability to conduct a fair auction is nonexistent,” they told reporters of the Wall Street Journal.

But Revel lawyer John Cunningham has disputed allegations that the auction was conducted in an unfair manner. “This is a baseless objection,” he said. “The allegations of unethical conduct are just absolutely false.”

Build at a cost of $2.4 billion two years ago, the Revel Casino was bought by a Canadian company at a price of just $110 million.

About 8,000 Atlantic City casino employees have lost their jobs so far this year, but there’s new hope for them now that the Revel Casino Hotel has a new owner. Toronto-based Brookfield Asset Management has won the auction for the now bankrupt venue, with an offer of $110 million.

After filing for bankruptcy for the second time since it opened in 2012, the Revel finally closed its doors on September 2. The casino had been in business for just two years, and is one of four Atlantic City gambling venues to shut down this year.

According to gambling news, the Trump Taj Mahal may be the fifth one, with owners threatening to close it on November 13.

CBC News: Brookfield submits top bid for closed Atlantic City casino Revel

Brookfield Asset Management, a company based in Toronto, has won the auction for the Revel Casino Hotel located in New Jersey’s Atlantic City, with a bid of $110 million. The casino filed for bankruptcy earlier this year and was looking for a new buyer.

Although the initial deadline was Monday, the auction was extended into its third day on Wednesday. This was when Brookfield was revealed as the company that submitted the winning bid. Having $200 billion in assets under management, the Canadian company owns the Hard Rock Hotel and Casino in Las Vegas, as well as the Atlantis Paradise Island in the Bahamas.

“Revel is a brand new trophy asset on the beachfront, which we are acquiring at a substantial discount to replacement cost,” company spokesman Andy Willis told the press.

“We’re not currently in a position to discuss the business plan as we continue to explore various options [but] we will be in discussions with all parties and partners involved to formulate a feasible plan that ensures the long term viability of this property as a resort destination.”

Along with Brookfield, several other companies have been trying to get their hands on the casino. The gambling venue cost $2.4 billion to build, so the price Brookfield paid was much lower. Its original bid was at $98 million, but the company sweetened the offer to $98 million in order to secure the deal.

RTT News: WSJ: Brookfield Among Four Bidders Vying For Atlantic City’s Revel Casino

Four bidders competed in an auction to acquire Atlantic City’s Revel casino and hotel, after the business went bankrupt this year.

Canadian company Brookfield Asset Management, who owns the Hard Rock Hotel and Casino in Las Vegas, was the front runner in the auction, according to an article published in the Wall Street Journal on Tuesday. The company has topped Florida-based real estate developer Glenn Straub’s $90 million bid.

Straub offered to buy Revel casino hotel in a $90 million deal that was supposed to help the casino exit bankruptcy. For some time, he was the lead bidder, but now other takers have stepped up with better solutions. Apart from Brookfield, the casino’s management has received offers from a real estate investor from the Meruelo family, Richard Meruelo, and from a New Jersey real estate developer.

According to Revel’s bankruptcy filing, the casino’s value dropped from $2.4 billion to as low as $450 million. Experts predicted that the business would not be able to get back on its feet until 2017. The Revel was never among the city’s most profitable venues; it has had financial troubles ever since it opened to huge fanfare in April 2012, with a $2.4 billion investment.

By June 2014, the Revel was filing for bankruptcy for the second time, and on September 2 the casino closed because it had received no suitable bids to recover from its financial problems.

Wall Street Journal: Four Bidders Vying for Atlantic City’s Revel Casino

Things are heating up at the auction to sell the now bankrupt Revel Casino in Atlantic City. Newspapers wrote the auction has been shrouded in secrecy from the very beginning, sparking a dispute between the casino and lead bidder Glenn Straub.

“Our topping offer of $95 million will also contain terms giving priority to workers who lost their jobs when Revel shut down,” Straub’s lawyer Craig Galle explained. According to the attorney, the Florida-based developer “is committed to helping employees and their families that were affected by the Revel bankruptcy.”

An affiliate of Brookfield Asset Management has recently entered the bidding, topping the initial $90 million offer. However, if Straub loses the auction, he is entitled to a $3 million breakup fee for serving as the lead bidder.

The real estate developer’s attorneys are claiming Revel has broken an earlier agreement to disclose information about competing bids. “Any degree of confidence in [Revel’s lawyers’] ability to conduct a fair auction is nonexistent,” they told reporters of the Wall Street Journal.

But Revel lawyer John Cunningham has disputed allegations that the auction was conducted in an unfair manner. “This is a baseless objection,” he said. “The allegations of unethical conduct are just absolutely false.”

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).

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.