Interesting online casinos news !

[helenakp]

Here are some interesting stuff i found today about 32Red buying RoxyPalace !

 

32Red Acquires Roxy Palace For €11.8 Million

 

The newest deal in the gambling industry was signed between Roxy Palace and 32Red which will buy the online casino for €11.8 million.

 

32Red has announced that it has completed the acquisition of online casino Roxy Palace. According to the deal, €2.8 million will be paid in cash and 10 million new ordinary shares will be issued by the end of the week.

 

The famous British casino operator, 32Red, will be taking ownership of the intellectual property rights, customer database and other assets connected to the business through the acquisition of the whole issued share capital of Eucalyptus Investment, which is a wholly-owned subsidiary of Applied Logics and Hyperlink Media Limited.

 

The two sellers will be receiving a portion of the cash upon the completion of the acquisition and 32Red will be making two more payments until December 31, 2016.

[helenakp]

UK Gambling Tax To Face EU Court of Justice

 

The European Court of Justice has taken months long awaited GBGA appeal into consideration to overrule the UK Gambling Point of Consumption tax law.

 

This morning the UK courts ruled that the Point of Consumption (PoC) tax introduced last December could be in breach of the EU laws. This got the opposing Gibraltar Betting and Gaming Association (GBGA) a lot of support in their attempt to overturn the PoC tax. The courts have stated that the matter will be referred to the European Union Court of Justice.

 

A judgment passed down this morning agreed that the GBGA made valid objections regarding the Article 56 of the Treaty on the Functioning of the European Union. Mr Justice Charles, the court’s residing, openly questioned whether the tax law had resulted in a free movement restriction of trade between UK and Gibraltar.

 

Another issue raised by Mr Justice Charles regarded whether UK Point of Consumption tax was implemented in order to reduce the competition from overseas operators.

 

UK PoC to be addressed by EU Court of Justice

The proceedings will take the matter to the European Union Court of Justice where, if the rulling goes in favor of the breach of EU law, HMRC (Her Majesty’s Revenue and Customs) could be ordered to repay every single cent of the tax it has taken – to date.

GBGA made a public statement saying that the matter has a “sensible nature’ and 

moved on to say that the UK should not be allowed to rule on the legitimacy of its own legislation.

 

“This is an important decision for all industries and it is quite correct that it should be determined by the European Court rather than within the country that has created this unfair position. We maintain that the tax regime introduced by Her Majesty's Government skews the market in favour of domestic providers to the detriment of law abiding operators like our members, in clear breach of European law, Peter Howitt, GBGA chief executive said.

 

It seems that because of such “sensible nature” of the matter, European judges working on the case will probably backup the position of GBGA.

 

 

Several operators moved away from UK market stating that the reason they are leaving is the PoC tax. The previous tax applied was Point of Supply (PoS) tax which stated that the operators are obligated to pay the tax where their operations are based.

[ValDes]

Yey, finally! It's been months since rumors were spreading for this deal...

 

Congrats to 32Red! Wish them luck with their new sister and sincerely hope they will keep their standards as high as usually!

[Luciana]

Is it true that Unibet is gonna buy Stan James?

[ValDes]

Is it true that Unibet is gonna buy Stan James?

 

Aham...

 

http://www.cityam.com/219932/unibet-lays-down-19m-stan-james-online-gambling-business

[Luciana]

Millions, billions ... easy to trade

[ValDes]

Millions, billions ... easy to trade

 

Yeah, and then they argue as 'gypsies on the market' for a nickels when it comes to bonuses. 

[Luciana]

Yeah, and then they argue as 'gypsies on the market' for a nickels when it comes to bonuses. 

 

Haha, true No any difference when it comes to advertisement. But, maybe that is actually the key to these millions and billions

[Awena]

As per me .. 

 

this is the first time I hear all this.

 

And its a good thing!

[Luciana]

Aaaand is 888 finally buying bwin.Party?

 

They had one attempt, then GVC (with Amaya Gaming) almost finished the business and now gambling pages are talking about 888.

 

Who gives more, who gives more

[ValDes]

Aaaand is 888 finally buying bwin.Party?

 

They had one attempt, then GVC (with Amaya Gaming) almost finished the business and now gambling pages are talking about 888.

 

Who gives more, who gives more

 

And here's the answer you've been looking for.

 

http://www.forbes.com/sites/nathanvardi/2015/07/17/888-wins-online-gambling-prize-in-1-4-billion-deal-for-bwin-party/

[Luciana]

Lol, just posted a topic about it

[helenakp]

Ladbrokes and Gala Coral agree merger to form £2.3bn gaming giant

 

 

Ladbrokes and Gala Coral confirmed Friday that they have agreed a proposed recommended merger to form Ladbrokes Coral plc, with the enlarged £2.3bn entity looking to become a more effective competitor in the gambling market. The merger will combine Ladbrokes online and land-based business with certain divisions of Gala Coral including its Coral Retail, Eurobet Retail and Gala Coral online businesses (the Coral Group). 

 

The new entity will generate annual net revenue of £2.1bn, with EBITDA of £392m, excluding cost synergies of at least £65m, which will be delivered in the second post-merger year. The enlarged company will have an retail estate of around 4,000 shops, making it the largest in the UK with almost double the number of its closest competitor, William Hill.

 

It will retain its portfolio of brands, allowing for effective cross-brand marketing across a larger customer base, helping accelerate the growth of its online business. Ladbrokes Coral will also have a strong presence in regulated markets, with Gala Coral’s Eurobet Italia offering complementing Ladbrokes’ online and retail operations in Belgium, Spain and Australia.

 

Upon completion of the merger, the company’s executive team will be led by Jim Mullen, current Ladbrokes chief executive, who becomes CEO of the enlarged entity. Joining him will be Gala Coral CEO Carl Leaver, who will serve as executive deputy chairman for 12 months, responsible for delivering synergies.

 

Gala Coral chief financial officer Paul Bowtell becomes CFO of the larger organisation and Ladbrokes senior independent non-executive director John Kelly becomes non-executive chairman. Gala Coral chief operating officer Andy Hornby, former CEO of HBOS, has also been confirmed as chief operating officer of Ladbrokes Coral, but will not have a seat on the board. In addition, the board of the new operator will include one non-executive director from the current Ladbrokes board, while current Gala Coral chairman Rob Templeman will also serve as a non-executive director.

 

Three further independent non-executive directors will be selected in due course. “This is a major strategic step for Ladbrokes which firmly accelerates our strategy to improve the customers' experience and build recreational scale,” outgoing Ladbrokes chairman Peter Erskine said of the deal. “Ladbrokes and Coral are two highly complementary businesses, with rich heritage and brand presence across the UK and internationally.” “Together, we will create a leading betting and gaming business combining strong brands with an attractive multi-channel offering and an extensive national and international coverage,” he continued.

 

“The transaction will provide an attractive opportunity to generate considerable value for both sets of shareholders, through significant operating synergies and a strong cash flow profile.” Gala Coral chair Rob Templeman added: “Today's announcement is testimony to the track record and achievements of the Gala Coral team in delivering a significant transformation of the business over the past four years.

 

This strategic combination is a natural fit and will offer further opportunities for growth. Coral Group's online strength and high street presence will complement Ladbrokes' established brand and footprint in the UK and internationally. “Together, the two businesses will have a strong digital presence with market leading technology, innovation and access to significant resources to drive continued growth and deliver enhanced returns for all shareholders,” he said. Shares in Ladbrokes plc (Co.Data) (LSE:LAD) will begin trading at 128.00 pence per share in London this morning.

[Raptordinos]

Is it true that Unibet is gonna buy Stan James?

By the way, one of my favorite sections on Stan James has been removed, it was live dealer games, software provider were Ho Gaming and Stan James were the best casino using this sofware, as far as I know.   . I'm not sure about MyBet, do you know another "good" Ho Gaming casino?

[Luciana]

Ah sorry Raptordinos Maybe they want to implement Unibet's software over there too. I don't know, but I'll try to find out Ho Gaming live dealer games in other casinos, for you

 

PS. Gala and Ladbrokes? Is this a month of big acquisitions, trending over?

 

PPS. Gala Coral is going to be supplied with NetEnt soon

[Adebisi213]

Haha looks like I've been away from casino land too long. Didn't even know about 32red buying out Roxy Palace. If anything I thought they were taking step backwards with delaying payment times.