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’Online gaming and the Schleswig-Holstein question [updated]
It’s been a baptism of fire for the ludicrously named bwin.party digital entertainment Plc.
Shares in the merged bwin and Partygaming only started trading a week ago but already they have fallen sharply:
Snap news
Breaking pre-market news on Friday,
- RBS posts pre-tax profit of £1.1bn in first half — statement.
- Old Mutual sells US Life operations for $350m; profit up 43 per cent — statement and statement.
Snap news
Breaking pre-market news on Thursday,
Petrofac announces demerger of its North Sea oil assets – statement.
- VT Group drops bid for Mouchel – statement.
- Delta recommends 185p a share cash offer from Valmont Industries – statement.
Snap news
Breaking pre-market news on Wednesday,
- Autonomy full-year adjusted EPS rises 42 per cent – statement.
- Evolution Group confirms departure of Andrew Umbers, head of its securities division – statement.
Snap news
Breaking pre-market news on Tuesday,
- Anurag Dikshit sells remaining 9% holding in PartyGaming – statement.
- Q1 figures from Siemens beat expectations – statement.
- Novartis names Joe Jimenez as its new chief executive – statement.
Snap news
Breaking pre-market news on Monday,
- Sonova announces $489m cash acquisition of Advanced Bionics Corporation – statement.
- Partygaming acquires WPT Enterprises, owner of the World Poker Tour brand,
PartyGaming in Landmark Legal Settlement
PartyGaming, the online gambling company that became a sought-after stock on the FTSE 100 index in the UK, on Tuesday admitted to bank fraud and contravening other US laws as it paid a forfeiture of $105m (€79m) in order to escape prosecution by US authorities,
Languishing lotteries
Here’s something rather counter-intuitive. Lotteries, in the US at least, are feeling the recessionary pinch.
“Just like Coke or Pepsi, we’re competing for discretionary dollars in the marketplace,”
Dikshit pleads guilty to online betting
The two-year battle between the online gambling industry and US prosecutors reached a milestone when Anurag Dikshit, co-founder of PartyGaming , on Tuesday agreed to plead guilty to a charge related to internet betting and pay the US authorities $300m.
Gaming investor agrees $300m penalty
The biggest shareholder in PartyGaming, the UK-listed online gambling company, has agreed to pay US authorities $300m and plead guilty to a charge relating to illegal web betting in the most prominent prosecution so far in the US clampdown on internet gambling.
UK’s Neteller to pay $136m gambling penalty
The saga of Neteller, the Isle of Man-based online payment processor, and its tangle with harsh US internet gambling laws have given some hope to the UK’s online gambling industry.
Neteller admitted on Wednesday that it broke US laws and agreed to pay a $136m penalty to settle its part of the US crackdown on internet gambling,
PartyGaming founder Bhargava sells stake
One of the founders of PartyGaming, the internet poker site that saw its share price collapse after the US moved against online gaming, has sold a 4.1 per cent stake in the company for about £49m. Vikrant Bhargava sold 160m shares for 30½p each through UBS.