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Profit Predictions Can Get Expensive

August 29, 2008 (InfoPowa News) -- When the management of Australian gaming machine manufacturer Aristocrat Leisure made an overly optimistic forecast on the company's profits back in 2001 and 2002, it could not have foreseen the angry reaction of shareholders ... and the final cost of the blunder. This week the company settled Australia's biggest shareholder class action for A$144.5 million (US$125.7 million), a court heard. Some 4,000 shareholders sued, claiming the firm overstated its profits and issued a subsequent profit forecast ... Read more
 

Titanic Prize-Pool Boosts Satellites

August 29, 2008 (InfoPowa News) -- iPoker Network online poker site Titan Poker.com reports that with its largest yet online guaranteed prize tournament now less than two weeks away, it is making 50 seats available through a major satellite this weekend. The winners of the seats get to compete in the $2,500,000 Guaranteed Prize tournament on September 7, 2008. "This is an exciting eleventh-hour opportunity for players who have not yet secured their seats to the online tournament of a lifetime. Low ... Read more
 

Tote Ireland Goes International

August 28, 2008 (InfoPowa News) -- The state-owned gambling system at Irish race courses is linking up with the world's biggest online betting exchange, Betfair. The Tote system, traditionally only available at track-sides, will now be available to more than two million customers around the globe via Internet through the Betfair site. The deal between the state-controlled Horse Racing Ireland and the Internet betting company is widely seen as a significant development in the industry. Alexis Murphy, Tote Ireland chief executive, ... Read more
 

Paddy Power and Liverpool FC Reunited

August 28, 2008 (InfoPowa News) -- Having parted company two seasons ago, Paddy Power plc and Liverpool FC came together again this week in a new sponsorship deal that replaces Liverpool's most recent agreement with rival online betting group Unibet. Matt Cunliffe, customer acquisitions manager for Paddy Power, said his company was pleased to team up again with the Champions League finalists, adding, "We're delighted to be working with Liverpool again. The partnership was as successful commercially as Liverpool were on ... Read more
 

Entraction Reports Rise in Profits for First Half of 2008

August 28, 2008 (InfoPowa News) -- Entraction, the Swedish betting group formerly known as 24hPoker, has joined the growing number of public companies reporting good online casino results. In its half -yearly report this week, casino revenues were the stars of the reporting period, showing a gain of 285 percent to SEK 26.3 million (H1 2007: SEK 6.9 million) The group's net profits rose to SEK 15.8 million for the six months to June 2008, up from a loss of SEK ... Read more
 

BetonSports Founder Makes Another Bid for Freedom

August 28, 2008 (InfoPowa News) -- Having failed to secure release from custody on bail due to health problems, BetonSports founder Gary Kaplan's legal representatives renewed their application for his release on Speedy Trial Act grounds this week.  Almost seventeen months in detention without trial proceedings is excessive, suggest the lawyers, an argument that could apply to the former CEO of the now moribund company David Carruthers who has been under house arrest in St. Louis even longer. Magistrate Judge Mary ... Read more
 

Vancouver Sun Reports Bodog Empire "Continues to Crumble"

August 28, 2008 (InfoPowa News) -- The controversial Bodog group remained in the headlines this week following allegations that the company was in trouble and cutting hundreds of jobs in Canada (read previous story here). In sharp contrast to a very positive statement given to InfoPowa by Morris Mohawk Group's CEO Alwyn Morris earlier in the week, Vancouver Sun writer David Baines claimed that the Bodog online gambling empire "continues to crumble." Baines bases his report on a number of factors -- ... Read more
 

Engaging with the Industry

August 28, 2008 (InfoPowa) -- Engaging and communicating with a range of online gambling parties is the motivation for the latest initiative launched by the independent affiliate program Income Access, which has announced the introduction of an online video channel and industry blog. (Remember, you heard it at CAP first.)  The company says that its latest tactical move is aimed at more actively participating in the wider online gaming community. "Through these content channels, Income Access intends to engage other ... Read more
 

Dynasty Snaps Up Asian Companies, Changes Name

August 28, 2008 (InfoPowa) -- Silva Ford Technology Limited, a Chinese software distribution company, and BaiYou Digital Technology Company Limited, which has prepaid card interests in Asia, are to be included in the Dynasty stable following a complicated reverse takeover exchange of shares that will ultimately see the Dynasty group renamed as "PC Stars Inc."   The total consideration involved is "not to exceed $105,000,000" according to a company statement on the deal. This is payable by the issuance and delivery ... Read more
 

Swedish Monopolies Are Being Chipped Away

August 28, 2008 (InfoPowa) -- For seventy years the Swedish welfare state has imposed monopolies on gambling, alcohol, and pharmacy products, but its membership in the European Union, and that body's policy of free movement of trade and services, has enabled entrepreneurs to chip away at the monolithic structure, according to an article published by the Financial Times Deutschland this week. The piece uses online gambling group Betsson's defiance of the monopolistic policies on gambling as an example, recounting that the ... Read more
 
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