Posts Tagged ‘professional sports betting software’

Contagious Gaming to Acquire Long Standing German Sportsbook Provider …

VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 21, 2015) -

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRE SERVICES

Contagious Gaming Inc. (TSX VENTURE:CNS) (“Contagious Gaming” or the “Company“) is pleased to announce that it has entered into a letter of intent (the “LOI“) to acquire all of the issued and outstanding common shares of Digitote Limited and Digitote Software GmbH Deutschland (together “Digitote“), herein referred to as the “Acquisition“. The total consideration for the Acquisition of Digitote will be EUR5,000,000 (C$6,800,000) (“Purchase Price“) and will be paid through a combination of common shares of Contagious Gaming, cash and a vendor take-back (“VTB“). Any cash payment of the Purchase Price payable on Closing will be funded with cash on hand.

Peter Glancy, CEO and Director of the Company, commented: “The Acquisition of Digitote expands Contagious Gaming’s sports betting offering by enabling us to provide our customers with a multi-channel live in-play and pre-match fixed odd sports betting platform alongside our proprietary in-play pari-mutuel Goal Time offering. Digitote’s software has a 30-year history as an extremely robust sports betting platform with a proven track record of handling over $10 billion of web, mobile and land-based wagers throughout Europe.”

Overview of Digitote

Digitote is a developer and provider of commercial-grade sports betting and horse racing technology, hardware, and support services to operators across Europe. Its business-to-business (“B2B“) software platform (“Xturf“) currently manages the sportsbook operations for a number of large and mid-sized customers in multiple regulated jurisdictions including Winners (bwin Spain), digibet (Gibraltar) and Betcenter (Belgium). Digitote’s team are highly experienced technical and industry professionals focused on the continued delivery of cutting edge sports betting solutions.

The Xturf platform is eCOGRA certified and offers sportsbook operators a central system and interface to control all of their betting activities. Key functions include:

  • Multi-channel management for interactive (web, mobile) and land-based (retail and self-service terminals) operations
  • Multi-channel player wallet
  • Automatic odds adjustments and risk management capabilities
  • Scanning and recognition of tickets, betting slips and customer cards
  • Multi-language and multi-currency capabilities
  • 24/7 customer and technical support infrastructure 

The Xturf software has the capabilities to offer significant coverage of sports/events including:

  • 30,000 unique events per month;
  • 18,000+ live bets (in-running betting) offered daily;
  • 200 live bets offered simultaneously; and
  • Up to 200+ betting types per event.

Guenter Boyks, CEO and Director of Digitote, comments “We are delighted to become part of Contagious Gaming. The synergies of both companies across the gaming sector offer huge potential with significant opportunities to expand into international markets and grow the combined entities revenues.”

Rational for the Acquisition of Digitote

  1. Proven commercial-grade sportsbook technology platform
  • 30-year track record of providing best-in-class technology to sportsbook operators in Europe handling over $10 billion wagers since inception
  • Multi-channel software platform offering live in-play and pre-match fixed odds sports betting solutions via web, mobile and land-based terminals with a single shared player wallet
  • Significant sports betting coverage capabilities, with over 30,000 unique events per month and 18,000+ live bets simultaneously
     
  1. Synergies and growth opportunity
  • Ability to offer both live in-play and fixed odd sports betting alongside Contagious Gaming’s Goal Time in-play pari-mutuel sports betting product
  • Potential operational synergies and cross-selling opportunities
  • Opportunity to leverage the Xturf platform to aggressively market sports betting technology on a B2B/ white label basis to gaming operators in regulated jurisdictions
     
  1. Aligned and experienced management team
  • Digitote’s shareholders and management team will become significant Contagious shareholders following the closing of the Acquisition and brings over 30-year experience in developing, managing and supporting commercial-grade sports betting technology platforms
     
  1. Attractive purchase price
  • Delivers consistent revenues and EBITDA
  • Immediately accretive to EBITDA and earnings

Note: amounts translated from EURO to CAD and vice versa were translated using foreign exchange rate of EURO 1.00 = $1.36.

Closing Conditions

Digitote is being acquired free of any long term debt and shall be delivered with positive working capital. The Acquisition is subject to completion of customary due diligence, negotiation and settlement of a definitive agreement and approval of the TSX Venture Exchange.

Cancellation of Chelbis Acquisition

The Company also announces the cancellation of the previously announced acquisition of Chelbis Company Ltd. (“Chelbis“). The acquisition of Chelbis was subject to a number of closing conditions in favour of Contagious Gaming of which Chelbis did not satisfy. The Company was unable to come to a revised agreement satisfactory to Contagious Gaming and thus has made the decision to terminate the acquisition of Chelbis.

About Contagious Gaming

Contagious Gaming Inc. (TSX VENTURE:CNS) is a rapidly emerging developer of unique and engaging software solutions for regulated gaming and lottery operators around the world. The Company is currently focused on deploying its first-to-market lottery-style sports betting platform in the United Kingdom and its proprietary digital instant lottery content in United States and other international jurisdictions. Contagious Gaming’s sports betting platform is the first sports betting system to allow players to chase a dynamic jackpot live during Premier League soccer matches. The Company is a first mover in the roll-out of digital instant lottery content in the United States. For more information on Contagious Gaming please visit www.contagiousgaming.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward‐looking information includes, among other things, information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used to identify forward‐looking information. The forward-looking information in this news release describes the Company’s expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions and adverse industry events.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD‐LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

Article source: http://www.stockhouse.com/news/press-releases/2015/05/21/contagious-gaming-to-acquire-long-standing-sportsbook-software-provider

NYX Gaming Acquires Game360

Developer of gaming content NYX Gaming Group Ltd. announced that the purchase of Game360 Ltd. had been completed. As NYX Gaming pointed out itself, it will pay for the acquisition by means of cash on hand.

The gaming software developer was advised by Elmcore Securities LLC on financial matters related to the purchase. Ficom Leisure advised Game360.

Game360 is known to develop and distribute native and HTML5 mobile solutions as well as sports betting software to a number of gambling operators that provide their services on the Italian regulated market. NYX Gaming pointed out that through buying the afore-mentioned company, it would be able to deliver its casino content portfolio to Italian customers and to start offering Game360 products to its international customers.

Matt Davey, Chief Executive Officer of NYX Gaming, noted that by taking advantage of the relationships Game360 has developed with its Italian customers, his company will be able to increase its revenue opportunities and to further expand its operations. In addition, he pointed to the fact that NYX Gaming will be able to introduce Game360’s product offering to the international market.

Andrea Guzzon, Chief Executive Officer of Game360, commented that they are extremely excited to be given the opportunity to become part of NYX Gaming. He also stated that the transaction will result in his company increasing its portfolio of gaming solutions that are delivered to its Italian customers and introducing its most popular games to international ones.

The purchase of Game360 is part of NYX Gaming’s strategy to expand its presence in various regulated markets, attract more customers, and strengthen its main operations. Once the acquisition deal is complete, the gaming software developer will not only introduce its operations and products in Italy, but will also acquire presence in Rome.

Game360 is to join a number of other companies that NYX Gaming has previously purchased. Back in April, it announced that it was to buy Chartwell Technology Inc. and CryptoLogic Ltd., both of which former subsidiaries of Canadian gaming company Amaya Inc., for the amount of C$150 million.

In November 2014, NYX Gaming acquired yet another former Amaya subsidiary – the so-called B2B poker network Ongame Network. It was announced back then that the price for the acquisition was equivalent to eight times the EBITDA Ongame was to generate in 2015, less working capital.

Related News

Article source: http://www.casinonewsdaily.com/2015/05/20/nyx-gaming-acquires-game360/

Kambi Group plc: Investigation of Kambi’s Manila Operation

STOCKHOLM–(BUSINESS WIRE)–Regulatory News:

KAMBI GROUP PLC (STO:KAMBI)

Kambi Philippines Inc, a subsidiary of Kambi Group plc (the “Group”),
has an office based in Manila. This operation provides back office
functions for the Group’s online B2B sportsbook service. Similar to
other betting operations based in the Philippines, Kambi Philippines Inc
has been served with notice today that it is the subject of an
investigation by the Philippines National Bureau of Investigation into
allegations relating to the carrying out of illegal gambling activities
in the Philippines.

With regards to these allegations, Kambi is confident that there are no
activities occurring in its Philippines operation which are contrary to
law. In the Philippines, Kambi is a member of the Government-run PEZA
scheme (Philippine Economic Zone Authority), which incentivises
businesses, on a fully transparent basis, to establish and run
operations in the Philippines. Kambi complies with local laws and
applies consistent global policies for its Group operations to abide
by. Kambi has immediately implemented business continuity measures in
accordance with its internal Group policies to ensure cover for the
services provided by its Manila operation. Kambi will update the market
as necessary regarding the investigation.

About Kambi

Kambi Group plc is a B2B supplier of fully managed sports betting
services on an in-house developed software platform, providing premium
turnkey sports betting solutions to B2C operators. Kambi’s solution
encompasses a broad offering from front end through to odds compiling
and risk management. Kambi employs approximately 380 staff across
offices in Malta, London, Stockholm and Manila. The company’s current
coverage includes more than 110,000 live betting events and 250,000
pre-match events per year covering 65 different sports from all over the
world. Kambi’s customers include Unibet, 888, Paf, 32Red and Napoleon
Games. Kambi utilizes a best of breed security approach, with guiding
principles from ISO 27001. Kambi Sports Solutions is an eCOGRA
certified. Kambi Group plc is listed on NASDAQ OMX First North Stockholm
under the symbol “KAMBI”. Kambi’s Certified Advisor on First North at
Nasdaq Stockholm is Redeye AB.

Disclaimer:

The information in this report/press release is such that Kami Group Plc
is required to disclose under the Swedish Securities Market Act. The
information was disclosed on TUE, MAY 19, 2015, at 11:10 CET.

This information was brought to you by Cision http://news.cision.com

Article source: http://www.businesswire.com/news/home/20150519006563/en/Kambi-Group-plc-Investigation-Kambis-Manila-Operation

Amaya Gaming joins high-stakes battle for bwin.party

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Article source: http://www.ft.com/cms/s/0/7677c410-fd27-11e4-b072-00144feabdc0.html

888 set to announce Bwin takeover bid

Online gaming group 888 is expected to announce on Monday it has made a takeover approach to rival Bwin.party digital which could create a merged business worth more than £1bn.

Bwin, which was put up for sale last November, confirmed on Friday it had received a number of approaches, including one from smaller rival GVC Holdings, although it emphasised there was no guarantee a deal would be done.

It said: “The board … is continuing its discussions with a number of third parties and has received revised proposals (including one from GVC) regarding a variety of possible business combinations.”

Other names linked with Bwin in the past include Canada’s Amaya, the company behind Pokerstars, and software supplier Playtech. Now 888 is likely to confirm it has tabled a bid for Bwin. In March the company’s then chief executive, now chairman, Brian Mattingley said 888 was “constantly appraising opportunities” and needed to get critical mass.

Analysts said there were likely to be important synergies between 888 and Bwin, since a merged group would be able to reduced fixed costs such as licensing in regulated markets and marketing spending. Bwin would also expand 888’s operations since it has a larger sports betting business than its rival.

Any deal would be likely to be seen as a reverse takeover since 888 is worth £600m, less than Bwin’s market capitalisation of just over £800m. Meanwhile Aim-listed GVC is valued at around £280m.

888 was itself a bid target for William Hill earlier this year but talks broke down over price. The Shaked family, one of the company’s founders, believed the offer of 200p a share from William Hill was too low. But it is believed they are likely to back any bid for Bwin, despite 888’s shares falling back after the failure of the William Hill deal, closing at 169.75p on Friday.

Bwin itself was formed from the merger of London-listed PartyGaming and Austrian group Bwin in 2011, but saw earnings fall 6% last year due to weakness in the European poker market and a Greek move to block gambling websites. This was the third straight annual fall in earnings, leading to increased cost cutting.

It also faced pressure from US activist investor SpringOwl, which successfully agitated for boardroom changes.

Any takeover of Bwin would continue a pattern of deals in the gaming sector. Apart from William Hill’s unsuccessful move on 888, private equity group CVC Capital bought Sky Bet after failing to buy Betfair.

GVC itself bought Sportingbet’s operations in 24 countries in 2013, and the business now accounts for more than half of its revenues.

Article source: http://www.theguardian.com/business/2015/may/17/888-set-to-announce-bwin-takeover-bid

SBTech Signs Deal With Gameplay Interactive to Provide Asian Market Sports … – SYS

LONDON, May 14, 2015 /PRNewswire/ –

Award-winning provider of leading online betting and gaming solutions, SBTech has signed a deal with leading egaming software provider Gameplay Interactive (GPI) to provide a powerful sportsbook localized for the Asian market.

Gameplay Interactive powers some of the region’s leading brands, including w88.com, all of whom will benefit from the seamless integration of SBTech’s powerful sportsbook that has been tailored specifically for the unique Asian sports betting market.

SBTech’s powerful sports betting interface features all the popular Asian bet types, including Asian handicap and Over/Under, as well as over 200 other different bet types across more than 30 sports, and coverage of more than 18,000 live events per month.

Gameplay Interactive CEO, Calvin, comments on the deal: “We’re excited to have SBTech’s sportsbook as the latest addition to the Gameplay Interactive platform. We understand the local player demographic and requirements, which enabled us to conclude this successful partnership with SBTech to distribute the product into the Asian market. This partnership shall offer our operators an impressive Asian market facing sportsbook and new distribution channels for betting in addition to GPI’s impressive collection of high-definition Live Casino, 3D Slot Games for both Web and Mobile. We are looking forward to working closely with SBTech and exploring new opportunities together.”

SBTech CEO Itai Zak: “Our latest deal with Gameplay Interactive is a fantastic step forward as it will see us penetrate further into the Asian market through a number of key gaming brands operating in the region. Almost three quarters of Asia’s interactive/online gaming revenues come from sports betting and we’re confident our localised sportsbook will prove popular.”

The deal comes ahead of both companies’ preparations to showcase their portfolios of innovative products specifically for the Asian market at the Global Gaming Exhibition (G2E) Asia from May 19-21.

In addition to a powerful Asian facing sportsbook, SBTech will also be presenting its latest innovation, Chameleon360, a potent egaming backend system which allows operators comprehensive control of an entire suite of integrated premium casino gaming content from the industry’s leading providers.

SBTech will be at Stand 227, G2E Asia, the Venetian Macao, Macao from May 19-21.

Gameplay Interactive will be at Stand 319, G2E Asia, the Venetian Macao, Macao from May 19-21.

http://www.sbtech.com

Article source: http://www.sys-con.com/node/3333534

Mybet to overhaul sports betting through Amelco partnership

Online gaming and sports betting provider mybet has announced that it is to “comprehensively” overhaul its sports betting product range through a new partnership with software solutions and products provider Amelco.

Under the agreement, mybet will utilise Amelco’s various services to strengthen its own systems and service offering to customers.

Mybet said the decision to use upgrade its services and use proprietary products will help the operator make up ground on its competitors in the market.

The operator also noted that decision to extend its sports betting product range in collaboration with an external service provider could help it achieve revenue of up to or in excess of €75 million ($84.3 million) in the current full-year period.

Earnings before tax in the 2015 financial year are not expected to exceed a loss of €500,000.

However, mybet said the new agreement is likely to have an impact on overall results for the 2016 financial year and that over proportional rises in earnings in the period could be realistic.

The new partnership remains subject to approval, with mybet expecting the deal to be completed by next month.

The news come at a time when despite mybet having achieved year-on-year growth in certain sectors of the business during the three months to March 31, its sports betting arm suffered losses.

Revenue in the first quarter amounted to €18.3 million, up 2.3% an the total achieved during the corresponding period last year.

Horse racing betting jumped 40% to €2 million while casino and poker operations increased by 3.2% to €5.7 million.

However, sports betting was down 2.1% to €10.4 million in the opening quarter of the year.

Markus Peuler, chief financial officer at mybet, said: “We are facing an exciting and challenging project, the precise scope of which we will define hand in hand with Amelco over the coming weeks.

“Although the project investment needed will be a burden on the 2015 result, we believe it will start to have a positive impact on revenue before the end of 2015 and then produce overproportional earnings growth in the coming financial year fo 2016. This is a big opportunity for mybet.”

Related article: Mybet boosted by sports betting growth in 2014

Article source: http://www.igamingbusiness.com/news/mybet-overhaul-sports-betting-through-amelco-partnership

Playtech seeks deal with online trading platform AvaTrade

By Patrick Graham and Jemima Kelly

LONDON (Reuters) – Israeli billionaire Teddy Sagi’s Playtech , a provider of online gaming and sports-betting software, is in talks to buy currency trading platform AvaTrade, a source with knowledge of the deal said on Wednesday.

Last month, UK-based Playtech sealed the purchase of another online trader, markets.com, the latest in a series of acquisitions made by Sagi.

Israeli website financemagnates.com also reported on Tuesday that Sagi had been in Cyprus several times for talks to buy another privately-owned retail broker, IronFX.

Sagi could not immediately be reached for comment and Playtech declined to comment.

The moves come at a time of flux in a sector that has become a large chunk of the $5-trillion-a-day global market in foreign exchange.

Millions in losses from the sudden removal of a long-held ceiling on the Swiss franc in January have spurred on a merger and acquisition boom that many major players in the market in online currency trading had long predicted.

ETX Capital snapped up the client list of Alpari UK after its collapse in January while one of the sector leaders, Gain Capital , completed the purchase of British spread-betting firm City Index in March.

Others, like Denmark’s Saxo Bank and FXCM have had to seek fresh capital backing and hence may struggle to invest as aggressively as they would have done over the next handful of years.

Sagi, who has an estimated net worth of $3.5 billion according to Forbes, is also the majority shareholder in Market Tech — the owner of much of Camden Market, which in terms of visitors ranks as London’s second biggest tourist attraction after Buckingham Palace.

Israeli financial newspaper Calcalist had reported on Monday that Sagi was in advanced talks to buy AvaTrade for $100 million. It said AvaTrade had an operating profit of $20 million in 2014.

AvaTrade Chief Executive Officer Dáire Ferguson also declined to comment.

(Editing by Mark Heinrich, Alexander Smith and David Evans)

Article source: http://news.yahoo.com/playtech-seeks-deal-online-trading-platform-avatrade-194552967--sector.html

Playtech seals deal for online trading platform AvaTrade

By Patrick Graham and Jemima Kelly

LONDON (Reuters) – Israeli billionaire Teddy Sagi’s Playtech, a provider of online gaming and sports-betting software, has bought currency trading platform AvaTrade, a source with knowledge of the deal said on Wednesday.

The purchase exercises an option held a month ago when UK-based Playtech sealed the purchase of another online trader, markets.com, and is the latest in a series of acquisitions made by Sagi.

Sagi, who has an estimated net worth of $3.5 billion according to Forbes, is also the owner of much of Camden Market, which in terms of visitors ranks as London’s second biggest tourist attraction after Buckingham Palace.

Israeli financial newspaper Calcalist reported on Monday that Sagi was in advanced talks to buy AvaTrade for $100 million. It said AvaTrade had an operating profit of $20 million in 2014.

AvaTrade Chief Executive Officer Dáire Ferguson declined to comment. Sagi could not immediately be reached for comment.

(Editing by Keith Weir)

Read the original article on Reuters. Copyright 2015. Follow Reuters on Twitter.

Article source: http://www.businessinsider.com/r-playtech-seals-deal-for-online-trading-platform-avatrade-2015-5

SBTech Signs Deal With Gameplay Interactive to Provide Asian Market Sports …


LONDON, May 5, 2015 /PRNewswire/ –

Award-winning provider of leading online betting and gaming solutions, SBTech has signed a deal with leading egaming software provider Gameplay Interactive (GPI) to provide a powerful sportsbook localized for the Asian market.

Gameplay Interactive powers some of the region’s leading brands, including w88.com, all of whom will benefit from the seamless integration of SBTech’s powerful sportsbook that has been tailored specifically for the unique Asian sports betting market.

SBTech’s powerful sports betting interface features all the popular Asian bet types, including Asian handicap and Over/Under, as well as over 200 other different bet types across more than 30 sports, and coverage of more than 18,000 live events per month.

Gameplay Interactive CEO, Calvin, comments on the deal: “We’re excited to have SBTech’s sportsbook as the latest addition to the Gameplay Interactive platform. We understand the local player demographic and requirements, which enabled us to conclude this successful partnership with SBTech to distribute the product into the Asian market. This partnership shall offer our operators an impressive Asian market facing sportsbook and new distribution channels for betting in addition to GPI’s impressive collection of high-definition Live Casino, 3D Slot Games for both Web and Mobile. We are looking forward to working closely with SBTech and exploring new opportunities together.”

SBTech CEO Itai Zak: “Our latest deal with Gameplay Interactive is a fantastic step forward as it will see us penetrate further into the Asian market through a number of key gaming brands operating in the region. Almost three quarters of Asia’s interactive/online gaming revenues come from sports betting and we’re confident our localised sportsbook will prove popular.”

The deal comes ahead of both companies’ preparations to showcase their portfolios of innovative products specifically for the Asian market at the Global Gaming Exhibition (G2E) Asia from May 19-21.

In addition to a powerful Asian facing sportsbook, SBTech will also be presenting its latest innovation, Chameleon360, a potent egaming backend system which allows operators comprehensive control of an entire suite of integrated premium casino gaming content from the industry’s leading providers, accessible by players via a single sign-on for a seamless sports betting and casino gaming experience and with an advanced agents and individual players’ risk management capabilities.

SBTech will be at Stand 227, G2E Asia, the Venetian Macao, Macao from May 19-21.

Gameplay Interactive will be at Stand 319, G2E Asia, the Venetian Macao, Macao from May 19-21.

About SBTech:
Established in 2007, SBTech is a leading provider of interactive sports betting solutions and services to traditional and regulated markets. The complete offering includes an innovative, dynamic and highly customized suite of turnkey and fully managed online, mobile and offline solutions which push the interactive betting industry into new frontiers.

About Gameplay Interactive: 

With a wealth of knowledge and experience in egaming, Gameplay Interactive has quickly become a household name in online Live Casino, 3D Slots Games and other gaming products in the online gaming industry. We combine innovation and experience to provide world class gaming software to our partners.

 

http://www.sbtech.com

SOURCE SBTech

Article source: http://www.prnewswire.co.uk/news-releases/sbtech-signs-deal-with-gameplay-interactive-to-provide-asian-market-sports-betting-solutions-ahead-of-g2e-asia-502563031.html