According to recent reports, software giant Playtech, has put up shares in the company for sale in order to raise £100 million which will be used to fund expansion programs involving acquisitions and new joint ventures for the group.
In the past few months Playtech has been in pursuit of several of these types of undertakings and have announced that the group has identified partners which will be the “right” fit for their brand and will reportedly forge alliances with various local brands in soon-to-be regulated markets. The group has calculated that its planned acquisitions will amount to £40 million while the joint venture deals will cost between €15 and €30 million each.
Playtech has already established a joint venture with casino and sportsbook powerhouse William Hill and also provides a number of other leading casino operators with software which the group deems a success. Based on its track record, Playtech founder Teddy Sagi increased his shareholding in the group to 43.7% after agree to underwrite the required £100 million to fund their expansion efforts.
It will be interesting to see which deals come out of these plans, so watch this space for more details and in the meantime, why not play at one of our highly recommended Playtech powered casinos like Europa Casino now.
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Mobile gambling is being earmarked as the “Next big thing” when it comes to gambling and the growth projections are nothing short of impressive. When it comes to mobile casinos and gambling, software giant Microgaming is at the forefront of software development and is emerging as a leader in the field.
A recent press release from the group has announced the launch of its latest mobile offering, known as Android Air. This exciting new release is an Adobe Air based application which can be used on smart phones and tablet devices running on the Android operating system. The new platform features a base offering of eight of Microgaming’s most popular casino games with the group set to deliver an additional 20 or more by the end of this year. Like with Microgaming’s online casino games offerings, the games will automatically be uploaded to the platform and players will be able to select which ones they would like to update via WiFi instead of using 3G.
The new Android Air package offers an updated user-friendly casino lobby showcasing not only the games but also a fully revamped registration and banking model. You’ll also find that mobiles casinos offering this new platform will have access to their full range of bonus offerings as well as instant messaging based promotions and offerings via the Virtual Pit Boss function.
According to head of product channels at Microgaming, Neill Whyte, mobile gaming has been an integral part of the Microgaming strategy for a number of years and while the group has enjoyed a strong market share with their existing products, the explosion of mobile gambling over the past year has been driven by the proliferation of smart phones in developing countries, opening up huge opportunities for providers. Whyte also stated that their new Android product would impact the industry as a whole quite significantly and we’re sure that Android users will be thrilled at that prospect!
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While US billionaires and numerous land based casino organizations hastily prepare for the imminent regulation of online gambling in the US market, the MGM Resorts Group recently announced the completion of an agreement that will see the group partner with Bwin.party digital entertainment (who own and operate PartyPoker and the World Poker Tour brands) in the online poker sector.
While the deal does hinge on the regulation of online poker on a federal or state level, these kinds of agreements are serving to shape the competitive landscape as traditionally brick and mortar casinos begin to enter the online sphere.
The MGM group is not the only company forging relations with the Bwin.party group, U.S Boyd Gaming also recently entered into a partnership with the group which sets the stakes at 65% owned by Bwin.party, MGM with a 25% share and Boyd gaming with a lesser 10% stake.
Under this new agreement Bwin.party will license its technology to both MGM Resorts and Boyd, which will offer online poker games under their individual brands. According to Jim Ryan, Bwin.party’s co-CEO “The intention of the joint venture is to take the PartyPoker brand and the World Poker Tour brand and our operating expertise and combine that with the regulatory expertise of MGM and Boyd,” he added that “Effectively you will have four brands in the U.S. and all four brands will be acquiring players and putting them in one hub, one poker network.”
The Party Poker brand was one of the largest platforms in the world before US Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006 which caused its exit from the market until recent developments which may mark its formal return.
While Bwin.party offers a strong casino portfolio the developments have encompassed only poker as sources say there is no evidence that US law makers will put regulations in place for anything other than poker. With new plans in place for poker regulation, billionaires and traditional casino groups are vying to be ready so that they can be the “first” when markets open up and grab the lion’s share of the traffic, but for now, it’s still very much a waiting game!