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Playtech’s claim that William Hill’s acquisition of Sportingbet should benefit the two companies’ joint interest in William Hill Online has been quickly rejected by a Will Hill spokesman. On Thursday Playtech’s CEO Mor Weizer claimed in a company statement that in terms of the WHO joint venture agreement William Hill would be “…bound to conduct …
With the champagne corks still popping over Thursday’s agreement by William Hill plc and GVC plc to acquire Sportingbet plc , Playtech introduced a sobering note with a reminder that in terms of its participation in the William Hill Online joint venture, William Hill plc is “…bound to conduct its remote gambling business through the …
After weeks of negotiations and time limit extensions from the London stock market, the acquisition of Sportingbet plc by William Hill plc and GVC plc has finally been agreed. The Reuters news agency broke the news Thursday, revealing that the consideration finally agreed was GBP 485 million. The recommended cash and paper deal valued Sportingbet …
Major internet gambling group Sportingbet plc has entered into a joint venture agreement with social gaming firm Plumbee with the intention of exploring the real-money social gambling sector. The JV, titled Bonza Gaming, will be headed up by Sportingbet’s former head of mobile Rick Brownlow as chief executive officer, based in London. He is to …
William Hill and GVC Holdings have reached a conditional agreement with Sportingbet regarding a revised proposal (RP) it announced today (Tuesday). The RP sets out a Sportingbet share valuation of 56.1 pence each along with the previously communicated proposed final dividend of 1.1 pence/share based on the closing middle-market GVC share price of 233.5 pence …
Sportingbet Plc has made changes to the composition of its Audit, Remuneration and Nomination Board Committees making them compliant with the UK Governance Code issued by the Financial Reporting Council. The Audit Committee will continue to be chaired by Non-Executive Director, Rory Macnamara and its other members will be Non-Executive Directors, Chris Moss and Marie …
European online betting firm The Betway Group has announced the appointment of Bob Dutnall as executive director of its Guernsey branch. Dutnall joins Betway from online sports betting firm Sportingbet where he served as managing director of its European operation. Prior to this, he held various chief financial officer appointments in both the consumer and …
William Hill and GVC Holdings are likely to be granted a further extension to the November 13 deadline regarding its proposed GBP 530 million offer on online gaming group Sportingbet reported Reuters Monday. The extension is required to complete due diligence related to the proposed acquisition.
According to UK news source City A.M., a William Hill and GVC Holdings’ second informal bid has been rejected by Australian operator Sportingbet. The duo’s initial bid last month of 52.5p per share which was rejected by Sportingbet as significantly under-valuing the company prompted an improved albeit informal offer of 55p per share late last …
Sportingbet Plc, the subject of acquisition interest from William Hill and GVC , has reported its full year audited results for its fiscal year ending July 31, 2012. Despite delivering a net loss attributed to its Spanish tax settlement, Centrebet acquisition and integration expenses along with costs associated with its Turkish disposal, the Company reported …
Sportingbet plc confirmed Monday that it has received an indicative offer from William Hill and GVC of 52.5 pence comprising of 45 pence in cash from William Hill and 7.5 pence in shares in GVC. The Board of Sportingbet has responded that this indicative offer significantly undervalues the business and its future prospects. A statement …
The UK newspaper The Sunday Times reported over the weekend that online gambling group Sportingbet plc has rejected an acquisition offer of GBP 350 million from William Hill plc and GVC plc. The 52.5p-a-share proposed bid from the two gambling groups will probably be the subject of a Management comment when Sportingbet plc reports full-year …
Online gambling group Sportingbet has announced the appointment of Marie Stevens as a non-executive director with immediate effect. Stevens has extensive experience in the gaming industry, having spent 10 years within Ladbrokes, latterly as Head of the Group Legal department. Subsequent to this, she spent four years as a member of the Gaming Board for …
The UK online gambling group Sportingbet plc issued a trading update for its fourth quarter ended July 31 Wednesday, advising that the trends experienced during the previous nine months have continued into the final quarter, and the directors expect the full-year results to be in-line with market forecasts. “Our Australian business continues to perform strongly …
The financial sector report the launch of a GBP 100 million buyout fund titled Burlywood Capital by well-known internet gambling entrepreneur and Sportingbet founder Mark Blandford. Former Gala Coral Group chief executive officer Neil Goulden and Panmure Gordon investment banker Andrew Burnett are reportedly involved in the private equity venture that will be chaired by …
The injunction imposed on Sportingbet Plc’s Spanish business on March 27, 2012 has been cancelled in full by the country’s Commercial Court No. 10. Sportingbet’s Spanish business at miapuesta.es began trading on June 5 following receipt of an egaming licence and the opening of the regulated market.
The online sports betting partnership between Serbia’s state lottery Državna lutrija Srbije and UK betting group Sportingbet plc has triggered an angry reaction from the Eastern European nation’s Association of Gambling Providers, which claims that the activity is illegal in terms of the country’s laws. Local operators have slammed the deal and its perceived favouring …
The UK publicly listed online gambling group Sportingbet plc released its Q3 numbers ended April 30 Wednesday, showing: * Amounts wagered up at GBP 555.9 million (Q3 2011: GBP 507.3 million) * Net gaming revenue down at GBP 43.4 million (Q3 2011: GBP 54.7 million) 52 percent of NGR was generated from regulated territories and …
The UK online gambling group Sportingbet has appointed Rory Macnamara, an existing non-executive director of the company and chairman of its Audit Committee, as the new Senior Independent non-executive director of the group. Macnamara takes over the role from Brian Harris, who will remain on the board as a non-executive director. The change takes place …
Following the announcement yesterday that Bwin.Party is to pay the retro-active Spanish online gambling tax, rival group Sportingbet has announced that it will also pay up, assessing that this will cost the company Euro 14 million, plus surcharges and interest of up to Euro 3.2 million. “The payment of these taxes maximises the likelihood of …
The British online gambling group Sportingbet plc, which made its final exemption from US prosecution payment to the DoJ Monday is reportedly making good progress in its collaborative negotiations with the American land gambling group Foxwoods, according to the London Evening Standard. Management at Sportingbet has made no secret of the fact that they would …
Sportingbet plc took to the media Tuesday to protest against a Spanish injunction and serve notice that it intended to launch a judicial appeal in Spain. Our readers will recall the bitterness in the industry generated by last year’s legal activities of Spanish group Codere, which sought a number of injunctions against foreign companies operating …
The Sportingbet plc international internet gambling group announced Tuesday that it has made its third and final payment of $6 million to the Office of the United States Attorney for the Southern District of New York, acting on behalf of the United States Department of Justice. As a result, Sportingbet has paid a total sum …
British online gambling firm Sportingbet Plc released its first half results for the six months ending January 31, 2012 reporting a decline in European revenues that were bolstered by an especially strong performance from the Australian market. Group Performance Highlights over the period include: – Amounts wagered GBP 1.266 billion (HY1/2010: GBP 1.069 billion), an …