by CasinoBonusCenter | Nov 21, 2011 | Casino Articles
Unibet Group plc past week announces that it has signed an agreement to acquire 100 per cent of the shares of French company Solfive SAS, owner of SPS Betting France SAS. Under the trademarks EurosportBet and EurosportPoker, licensed by the company Eurosport, Solfive operates a range of gambling and betting products such as sport betting, live betting, horse racing betting, and poker through its web sites www.eurosportbet.fr and www.eurosportpoker.fr.
The initial acquisition price is specified as EUR 5.625 million (GBP 4.8 million), plus net cash adjustment of EUR 1.5 million (GBP 1.3 million). The components of the initial acquisition price are payable as cash up front at day of closing. Unibet will also provide funds to Solfive at closing to enable the company to settle a fixed debt of EUR 2.375 million (GBP 2.0 million). Depending on trading results in the first six months following execution an earn-out may be payable.
The transaction is subject to approval by the French regulator ARJEL and is expected to complete around the end of 2011.
Unibet intends to rebrand the platform from Eurosportbet.fr to Unibet.fr following a short transition and plans to build on the legacy strength of the Unibet brand and historic customer base. The transaction will increase re-regulated revenues for Unibet, but under the current terms and conditions of the French licensing system, the transaction is not expected to have a significant impact on profitability for 2012.
The Solfive Group currently employs 25 people mainly within CRM, trading, IT and marketing.
“This strategic acquisition gives Unibet immediate access to the French market with a technical platform that is already licensed offering sports betting, poker and horse racing. We will rebrand the business quickly to Unibet.fr. The combination of Unibet’s strong brand, the efforts already made to build a significant market share for EurosportBet, and the difficult decisions taken by management to control costs give the best opportunity to be successful in a very difficult market,” says Henrik Tjärnström, CEO Unibet.
“Even though we recognise that it will be difficult to generate profits in the short term under the current terms and conditions, we consider that over the medium term France will develop a more sustainable model that will better achieve the goals of player protection, fair competition and reasonable taxation.
With this acquisition Unibet can re-enter the French market at a limited cost to take advantage of the longer-term opportunities”, Henrik Tjärnström continues.
“The extremely challenging terms and conditions for the French market make it very difficult for an independent operator to develop their business. We are delighted therefore to have this opportunity to work with Unibet, who have the experience, resources and brand legacy in France to succeed in this market in the long term. We are proud of the achievements of the EurosportBet team in establishing a strong market share and believe that this transaction provides the best platform for the long term success of the business and therefore the best opportunities for the excellent team that we have built,” says Olivier Ou Ramdane, CEO Solfive Group.
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by CasinoBonusCenter | Nov 16, 2011 | Casino Articles
– Best Gaming Site for the third time since 2008
Swedish-founded online casino Mr Green is on the list of Sweden’s 100 Best Internet Sites for the fourth consecutive year. For the third time since launch, Mr Green is also the winner of the category Best Gaming Site.
“To once again have won this distinguished price is a recognition of our devotion for design, user interface and transparency. This is extra encouraging since we have launched a brand new version of the site during 2011,” said Mikael Pawlo, CEO of Mr Green.
Mr Green was awarded in a ceremony held by the Swedish magazine Internetworld, in Stockholm, Sweden, tonight. Internetworld has annually rated the 100 best Swedish sites since 1997.
“We are trying to understand the gaming processes in other types of gaming than ours. We are inspired by sites like Zynga, Dice and foursquare and are trying to import the best features to our niche of the gaming business,” said Mikael Pawlo, CEO of Mr Green.
“In Mr Green we compare a web site to a shark. It moves and develops or the shark dies,” said Mikael Pawlo.
Mr Green is the next generation of online casino operators. Mr Green was voted the best online gambling web site by magazine Internetworld in 2008, 2009, 2010 and 2011. Mr Green was added to the EGR Power50 list, of the most influential and important gaming companies in the world, on seat 32 in 2011. It has customers in Sweden, Norway, Finland, Austria, Germany and the United Kingdom.
Mr Green is the only casino operator in the market offering a seamless solution of four different casino vendors: Nyx Interactive, IGT (Wagerworks), Net Entertainment and Betsoft Gaming. The inhouse developed seamless solutions makes it possible for players to change vendors without exchanging chips or coins.
Mr Green’s founders have broad experience in the casino segment. Mr Green has developed the next generation of casino using the latest technology and the best games. This ensures that players are offered a superior gaming experience in a safe and regulated environment.
With Mr Green, players can set their own limits as to how large a risk they want to take. Mr Green call it Green Gaming. In other words, even before they start to play, players can set limits for how much they can play on a weekly basis.
Mr Green has chosen a casino product with a completely new ‘look and feel’ and has been inspired, among other things, by the iPhone’s navigation and has also added clear information on responsible gaming.
by CasinoBonusCenter | Oct 31, 2011 | Casino Articles
London, 31 October 2011 – Following its recent accreditation as a full testing agency by the Italian regulator AAMS, the independent player protection and standards body eCOGRA has achieved similar status with the new Spanish gambling regulator, and is now approved to test and certify both i-gaming software and information systems security for the Spanish market.
eCOGRA chief executive officer, Andrew Beveridge, applauded the licensing opportunities adopted by the Spanish regulator in the newly liberalised online gambling market in Spain, commenting:
“It appears that a harmonised EU regulatory environment is unlikely to be achieved in the near future, and operators, software suppliers and testing agencies are currently faced with a formidable challenge in meeting the different jurisdictions’ compliance requirements.
In this environment eCOGRA is very conscious of the need to fulfil our clients’ expectations and the associated audit risks, and we are continually developing our auditing approach to ensure that operator and software supplier clients realise benefits that include:
- A streamlined and efficient audit process ensuring reduced delays in licensing in new jurisdictions and minimal disruptions to the rollout of new products and system changes;
- Reduced testing through a single audit of common regulations across multiple jurisdictions, with possible and consequential annual cost benefits;
- Compliance work performed by professional and industry experienced auditors with a thorough understanding of the operational and regulatory environments;
- Comfort that a familiar testing agency with a proven reputation for integrity and competence is performing the testing work; and
- Competitive testing agency fees.”
Founded in 2003, eCOGRA tests, reviews and monitors the operational activities of almost 200 tier one online gambling venues operated by some of the largest companies in the industry. Its audit and IT professional staff is experienced in the testing and certification of platforms, games, online casino, bingo, mobile and poker networks and sports books to best practice standards that meet international regulatory requirements, including the safe storage database demands enshrined in the new Spanish regulations.
The Dirección General de Ordenación del Juego recently emphasised the importance of comprehensive and professional testing as a prerequisite for a stage one Spanish licence.
Applicants will be required to successfully undergo an assessment process of both games and platform by a testing agency recognised by the Spanish authorities. Once the licence has been issued, the applicant has four months in which to prepare for a final and all-embracing inspection of operational systems, games and hosting facilities, leading to a full licence.
The burgeoning Spanish market represents a significant business opportunity for operators committed to, and able to meet, high standards, and the demand for testing and advisory services is expected to be considerable.
About eCOGRA
eCOGRA is staffed by highly professional auditors with Big 4 auditing firm experience, information system experts and responsible gambling specialists. The organisation is a leading supplier of compliance and advisory services in the areas of player protection, fair gaming and responsible operator behaviour to stakeholders in the remote gambling industry.
In 2011 alone eCOGRA will perform almost 100 compliance reviews against eCOGRA’s eGAP Requirements, the European Gaming and Betting Association (‘EGBA’) Standards (incorporating the European CEN Workshop Agreement 16259:2011 Measures) and various jurisdictional regulations.
The company is an accredited testing agency with several jurisdictions, and earlier this year the United Kingdom Accreditation Service (UKAS) awarded eCOGRA the ISO approval ISO/IEC 17025:2005 : General Requirements for the competence of testing and calibration laboratories. This accreditation is one of the quality assurance requirements for approval as a testing agency in various European remote gambling licensing jurisdictions.
by CasinoBonusCenter | Oct 18, 2011 | Casino Articles
Responsible Gaming Day (RGD) – https://www.responsiblegamingday.eu – provides an opportunity for interested stakeholders to participate in a fact-based discussion of best practices for responsible gaming and betting in the EU.
This year will be the fourth edition of RGD. The first edition in 2008 opened the debate by a broad discussion of the numerous issues the sector faces. In 2009, RGD focused on “Integrity and Sport” and last year the spotlight was on the gambling sector’s contribution to the Digital Agenda and the announcement of the Green Paper on online gambling in the Internal Market.
This year’s programme will seek to generate an informed and vibrant discussion that will make a real contribution to the policy discussions following the Green Paper consultation and the European Parliament’s own initiative report. Discussions will focus on the regulatory framework required at EU level and the possible role of standards as a response to the challenges and opportunities identified.
Activities will focus on an afternoon roundtable ‘Online gambling: a substitute or building block for an EU framework?’ followed by an opportunity to experience live demonstrations of the internet tools that are available to ensure responsible gambling.
Directions:
Venue
BIBLIOTHÈQUE SOLVAY
Parc Léopold – Rue Belliardstraat 137
1000 BRUXELLES
Tel: 02/738 75 96
Fax: 02/736 29 85
URL: www.edificio.be/fr/edificio-contact.php
by CasinoBonusCenter | Oct 13, 2011 | Casino Articles
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by CasinoBonusCenter | Sep 21, 2011 | Casino Articles
WASHINGTON – Casino corporations that advocate legalizing Internet poker rolled out some big guns Thursday to advance their cause.
An industry-funded coalition introduced former FBI Director Louis Freeh and former Homeland Security Secretary Tom Ridge to bolster the argument that federal regulation of online poker would protect consumers and allow authorities to police sites that sponsor games.
Freeh has joined Ridge on the board of FairPlayUSA, an effort launched this summer with startup funding from Caesars Entertainment Inc. and MGM Resorts International to build support to legalize online poker.
Despite indictments this spring targeting three of the largest online poker companies, the former federal law enforcers said current law on Internet gaming has been ineffective.
“The fact is there are millions and millions of people playing the game today,” Ridge said at a media event in the U.S. Capitol. “Congress in 2006 decided to prohibit all Internet gambling. Was it well intentioned? Yes. Has it been effective? With respect to those who thought they were doing the right thing by banning it, the answer is unequivocally no.
“Prohibition hasn’t worked, criminalization doesn’t make a lot of sense,” Ridge added. “The alternative is to encourage Congress, with the right input from the law enforcement community, consumer protection advocates, child safety advocates, professional players, to develop a regulatory scheme to enable law enforcement to oversee lawful Internet poker.”
Officials with FairPlayUSA say they are building a coalition of those groups to support a federal law to define Internet gambling and provide umbrella protections they say will not be possible if states are allowed to enact individual poker laws.
Board member Parry Aftab, a child advocate and Internet safety expert, said the group has not endorsed specific legislation.
A group of lawmakers including Rep. Shelley Berkley, D-Nev., introduced a poker legalization bill this summer.
Sen. Harry Reid, D-Nev., also is drafting a bill after trying to get one passed in the final days of Congress last year.
**Republished from Online.CasinoCity.com
