Issue N48, 2009
December 16, 2009
32 Red Plc Launches New Sportsbook
UK online gambling operator, 32Red Plc has announced the launch of its new sportsbook on the Global Betting Exchange iBroker platform. The group joins top operators such as PKR poker and AsianLogic in their use of the Irish GBE’s sportsbook solution. The Chief Executive Officer of 32Red, Ed Ware, said that GBE had offered the group enough good reasons to use their platform including the simplicity to integrate into existing platforms and competitive pricing.
“We are delighted with the launch today of 32Redbet,” said Brian O’Sullivan, Chief Executive of Global Betting Exchange. “We have worked closely with Ed Ware and his team over the past few months to deliver a unique low-cost, no-risk sportsbook built on GBE's iBroker platform. 32 Red is one of the most respected names in online gaming and I am confident Ed and his team will make a great success of this new product.”
32Red’s launch of a sportsbetting product comes ahead of the World Cup soccer tournament to be held in South Africa next year. The group’s CEO, Ed Ware, said that the platform would hopefully improve the ‘stickiness’ of 32 Red’s portfolio that includes casino gaming, mobile betting and poker. “It minimizes the danger of existing 32Red players using competitor betting services and then remaining with that competitor for all their betting and gaming needs,” he said. “Next year’s World Cup was also at the front of our mind here. We also believe that offering sports betting will increase the return on investment of existing promotions and potentially allow us to target other niche market areas.”
Bwin and Party Gaming in Merger Talks?
The question on everyone’s lips this week has been whether the two gambling giants, Party Gaming and bwin are set to announce a merger deal. Rumors have been rife that the groups are nearing the completion of an agreement, but bwin, on its part, has downplayed speculation by saying to Reuters: “We are talking to everyone because we believe that there will be more consolidation in the sector. But we are not in any advanced talks, including with Party Gaming.”
Nevertheless, investors have chosen to go with the rumors and shares for Party Gaming on the London Stock Exchange jumped significantly. The Austrian based bwin also saw its share prices jump by 4%.
“There as lots of press comment over the weekend suggesting that bwin and Party Gaming have held informal merger talks,” said one market analyst. “This doesn't come as a surprise as online groups frequently talk informally. However, we believe that the recent sector consolidation will gain momentum through 2010 and it is only a matter of time before we see further sizable deals."
“The combination of mature markets, new markets opening up and substantial cost savings make industry consolidation a compelling theme,” he added. “We have already seen bwin acquire Gioco for its geographic strength in Italy, while Party Gaming purchased Cashcade to develop its bingo presence. Bwin's strength in sports means that it would be an ideal partner for Party. But even if it's not bwin and Party, there will be further deals. Given Party's market position and management position, we continue to rate the shares a buy.”
A potential merger could see a consolidated group be worth over $3.3 billion.
Super Fast Win for New 32Red Casino Player
A lucky player at 32Red’s online casino signed up for the first time last week and was rewarded with a £32 bonus on his first £10 deposit. Only moments later, after trying his first spin on the popular progressive slots game Major Millions, the player – Brett Hill – found himself £25,000 richer after hitting the jackpot.
“Brett's win is amazing,” said Pat Harrison, the Operations Director at 32 Red Casino. “He turned the £32 free from 32 Red for signing up into £25,000, and in his own words changed his Christmas and 2010! 32 Red would like to congratulate Brett again and wish him all the best for the New Year.”
Hill has already spent some of his money on a brand new car for his wife and will lavish gifts and cash on his children. “I'm saving the rest for a holiday or just a rainy day,” he added.
Cryptologic Unveils New December Games
Software giant, Cryptologic announced the launch of new slot and table games just in time for the Christmas season. The company said that players should be able to find the new games at its partner sites, adding some exciting action to their gaming action as they head into the new decade.
The games include four new slot titles and three table games. The DC Comics based Superman tops the list as this year’s new release, while two games based on award winning Paramount movies, Forrest Gump and Braveheart, were also part of the collection. Just Vegas completes the slots list. The table games include Sic Bo, Double Double Bonus video poker and Perfect Pairs Blackjack.