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November 30th General news ... My Sports Betting at mysports-betting.com

BETFRED THE VICTOR IN TOTE SALE (Update)
2011-06-03

A long running race comes to an end
Its official, UK Bookmaker Betfred has acquired the UK Horserace Totalisator Board (Tote) for GBP 265 million announced the UK Government's Department for Culture, Media and Sport, this week.
The announcement clarifies the Tote's future to its employees with assurances on jobs and pensions and will benefit racing to the tune of GBP 155 million.
“Most people can’t understand why, in the modern world, the Government should be even a part owner of a bookie,” said Gambling and Racing Minister John Penrose. “So we pledged last year to end years of dithering and resolve the future of the Tote, and today we have done just that.”
A number of undertakings Betfred has agreed to provide include the continued payment of the Levy to racing even if part of the Tote business moves offshore and that the pool betting part of the business will not be sold off.
Among the specific terms of the deal:
- Betfred has agreed to pay a headline value of GBP 265 million for the business. This is comprised of an initial payment of GBP 150 million and deferred amounts, including accrued interest, of GBP 115 million;
- After deductions including debt and pensions, the net equity value to be paid to Government by Betfred is over GBP 180 million;
- The taxpayer will retain over GBP 90 million as its 50 per cent share of the net proceeds of the sale;
- Racing will receive over GBP 90 million as their 50 per cent share of net proceeds from the sale (use of which will be subject to compliance with state aid regulations).
In addition, Betfred has committed to making commercial payments to racing of GBP 11 million to March 2012 and an expected GBP 9 million annually over the following six years;
- The Tote Pension scheme will benefit from a GBP 25 million upfront contribution to the plan; and
- Tote employees will have assurances on jobs and an end to many years of uncertainty.
As part of the sale process Betfred will receive an exclusive seven year licence to operate Pool betting operations on all UK racecourses, one condition of which is a requirement to provide pool betting on every approved racecourse in the country.
Betfred have also publicly committed to the establishment of a Tote Racing Development Board with racing to help run the pool and foster wider collaboration. The Tote brand will remain on all UK racecourses.
Culture Secretary Jeremy Hunt added: “It was a closely fought contest which has ended up giving the Tote business and the racing industry the certainty they have been looking for. Of the GBP 265 million in the headline price only just over GBP 90 million will end up being paid to the Treasury. So this deal has been carefully calculated to make sure that the interests of racing, Tote employees and the Tote Pension Fund were given the greatest possible weight.”
Completion of the sale is subject to consultation with employees and is expected to take one to two months.




PADDY POWER POSTS STRONG YTD RESULTS
2011-05-18

Online revenues show solid growth NFL Betting Lines with UK and Irish mobile gambling up 298 percent
Irish bookmaker Paddy Power announced in an Interim Management Statement that its strong momentum continues into 2011 for the period 1 January 2011 to 15 May 2011 (YTD).
Key performance indicators include:
- Group revenue up 21 percent year to date
- of which 33 percent growth in online revenues and 7 percent growth in retail revenues.

- UK and Irish online business:
- paddypower.com's online sportsbook performed strongly with total amounts staked up by 46 percent.
- amounts staked via mobile showed a 298 percent growth with 34 percent of its active customers transacted via mobile.
- Sportsbook Gross Win up 60 percent
- Gaming/B2B Gross Win up 26 percent

- Australian online business:
- Amounts staked up 7 percent
- Gross Win up 13 percent
Nigel Northridge, Chairman, Paddy Power PLC said "The comparative period for the remainder of the year benefited from the football World Cup, as well as very favourable sports results. However, the strong underlying momentum in the Group should help to offset these factors, and consequently the Board looks forward to the balance of 2011 and beyond with confidence.”


AAMS AND ARJEL IN COLLABORATION
2011-05-18

Italian and French regulatory bodies in co-operation agreement
The Italian regulator AAMS is due to sign a memorandum of understanding with French regulatory body ARJEL in the near future, tmnews.it reported this week.
The memorandum seemingly covers various issues including the exchange of information on licenced operators, player protection, defending the integrity of sport and the fight against unlicenced operators.
AAMS and ARJEL have refuted media speculation that the agreement may lead to a shared liquidity over the two jurisdictions.


PLAYTECH HONOURED IN EGR AWARDS
2011-05-06

Recognition for quality RNG and Bingo
Online gambling software developer Playtech plc took home two awards from the recent EGR Awards function in London.
The company was honoured with RNG Suppolier of the Year and Bingo Network of the Year, the latter through its subsidiary Virtue Fusion.
Playtech CEO Mor Weizer said: “Winning EGR b2b Awards for two major product categories sends a significant message about the strength and capability of Playtech’s products across the group. As a leading name in the industry, we were delighted to be recognised at this prestigious event and look forward to building on our success in the coming year.”
Other winners included:
Microgaming - Innovation in Slots and best online poker network

Dragonfish - Best Bingo Supplier and poker software

Net Refer - Best affiliate software

Cozy Games - Innovation in Bingo software

Net Entertainment - Innovation in RNG casino software

IGT - Best slots provider
Evolution - Top live dealer provider
Mfuse - Best mobile technology provider
GameAccount - Tops in skill games
Openbet - Best sports betting provider
Neogames - Best white label supplier.