Issue N46, 2007
December 6, 2007
Global Player Site to Close its Doors to Business
Another online gambling company has been forced to admit defeat in an ever competitive and volatile market. Sadly, the popular online casino site, Global Player.com, has announced that it would be closing its doors to business, effective almost immediately. The casino site’s owners, Universal Gaming Concepts Inc. said that players would be able to withdraw their money from their accounts until the end of December, 2007, and they were encouraged to do so immediately so as to avoid any delay. They would be able to claim payouts after this date, although the process could take longer. Global Player recently switched to the Boss Media platform after many years of using proprietary software.
Universal Gaming’s Chief Executive Officer, Giancarlo Bettini said in a statement this week that the online site, one of the oldest in the business with an eight year track record, was to be closed after the company had spent months evaluating its current business. A conclusion was reached that the present legal and economic situation in the industry made it extremely difficult for Global Player to compete in the market. “The strategic decision to cease operations while we are still in the position to satisfy our obligations to players, vendors, affiliates and staff reinforces our integrity and commitment to good business practices,” Bettini said.
First Asian Online Gambling Company to List on London Stock Exchange
The former head of Playtech, Tom Hall, has taken his Asian success story to new heights, following the announcement that the AsianLogic online casino firm is to be floated on the London Stock Exchange before Christmas this year. The $110-million flotation will enable AsianLogic to invest in games and software directed at the Asian market, as well provide the company with a significant amount to buy out industry rivals. AsianLogic also aims to develop slot machines for the Singapore and Macau land-based gambling houses.
Established in 2002 by Hall, in partnership with Asian gambling tycoon Chi Kan Tang and the British Chris Parker, AsianLogic has a tight foothold in the Asian market. The company runs no less than ten gambling sites and runs a gambling consultancy business that specializes in local markets. The company also sells croupier and live dealer feeds to Playtech, which uses the company’s software for its specialty Asian games. This new entry of an Asian-based casino firm into the LSE is yet another sign of the shifting trends in online gambling.
Unibet Purchases Online Gambling Rival
The largest privately owned gambling companies in Europe, Unibet, has announced that is has purchased one of its biggest rivals, Maria Holdings. The latter is part of the online-gambling interest stakes belonging to the Swedish investment firm, Maria Invest AB. The sale of the company went for a reported $109-million. In a statement, Unibet said that it was acquiring Maria Holdings as part of an overall strategy to broaden its customer bases and cover more gambling markets than ever before.
Petter Nylander, Unibet’s Chief Executive Officer, said that this latest acquisition would ensure that Unibet grabbed a bigger portion of the ever-growing online bingo market and establish itself better in the Nordic gambling market. Unibet is listed on the Swedish stock market and provides a multitude of online gambling services in over 20 languages. The company has regularly expressed its interest to increase its geographical coverage and improve its already solid industry name. With the new purchase, Unibet will take over the ownership and operation of domains such as CarlosPlace.com, CarlosBingo.com, MariaCasino.com, MariaBingo.com and Bingo.se.
IGT Releases Online Versions of Popular Land Games
International Gaming Technology has announced the release of two of its most popular land-based games in identical online game versions. IGT, through its online casino arm, WagerWorks, said that it had created two new three-reel slot games onto its remote gaming system so that more gamblers than ever could gain access and benefit from the stunning software and features. The games, Five Times Pay and Double Diamond, already enjoy huge popularity at land-based casinos throughout the world. The games are available in multi currencies and multi denominations.
The three-reel, one-line Five Times Play offers player to go for maximum rewards through three different pay tables (standard, 5x and 25x). If players manage to line up three Five Times Pay symbols on a winning pay line by wagering the maximum amount, they stand in line to win 15,000 credits. In the second new game, the Double Diamond symbol acts as a wild symbol and multiplier, allowing players to earn up to four times the winning reward. By wagering the maximum amount and lining up three Double Diamond symbols on a winning pay line, players can win as much as 2,500 credits.