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DIE BRITISCHE REGIERUNG PLANT, DEN Glücksspielautomatenmarkt als Teil eines Paketes von Veränderungen an Einsetzen und Preisgrenzen für Glücksspielautomaten zu stimulieren. Die Ankündigung kam als Teil der Reaktion der Regierung auf eine dreimonatige Konsultation, bei der die Glücksspielindustrie, gemeinnützige Organisationen sowie Glaubens- und Gemeindegruppen aufgefordert waren, ihre Meinungen zur Höhe von Einsätzen und Preisen für eine Reihe von Spielautomaten zu äußern.
DIE EINNAHMEN VON FINNLANDS SLOT MACHINE Association stiegen auch in der zweiten 4-Monatsperiode des Jahres, obwohl die Einnahmen im Casino Helsinki um 5,6 Prozent sanken. Die Ertragsentwicklung verlangsamte sich jedoch leicht von Beginn des Jahres an; von Januar bis August stiegen die Einnahmen um 2,1 Prozent seit dem letzten Jahr und betrugen € 520,2 Mio.
INSPIRED GAMINGS LOTTOSPIEL VIRTUAL FOOTBALL wurde von Chinas Finanzministerium genehmigt. Das Spiel gelangt ausschließlich über AGT, einem Joint-Venture zwischen AGTech und Ladbrokes auf den chinesischen Markt. Virtual Football wird nach Virtual Motor Racing in 2011 Inspireds zweites Rapid-Draw virtuelles Sportlottospiel mit festen Gewinnquoten in China sein.
DER STAAT NEW JERSEY IST DERZEIT MIT DEN Vorbereitungen beschäftigt, mit seinen Online- Glücksspieldomänen an den Start zu gehen, was realistischer- weise Ende November der Fall sein könnte. Die Aktion findet somit endlich statt, nach einem langen Streit um die Gesetzesvorlage, die eine solche Glückspielmöglichkeit per Gesetz ermöglichen würde. Der Staat untersucht nun das mobile Glücksspiel und Analysten spekulieren derzeit, dass er mit dem ersten mobilen Casino in den Vereinigten Staaten an den Start gehen wird.
DAS IM STAATSBESITZ BEFINDLICHE HOLLAND Casino wurde wegen seiner bedenklichen finanziellen Situation unter direkte Aufsicht gestellt. Die Organisation, die das Casinospielmonopol in den Niederlanden hält, wird außerdem wohl weitere 150 Arbeitsplätze abbauen und Vergünstigungen für Mitarbeiter reduzieren.
DAS MANAGEMENT EINES DER FÜHRENDEN CASINOS Griechenlands, das Club Hotel Casino Loutraki betonte, dass es nicht kurz davor stehe, aus dem Geschäft auszusteigen und versicherte den Mitarbeitern, dass es nicht schon bald einen Antrag auf Konkurseröffnung stellen werde und dass ihre Arbeitsplätze sicher seien.
CASINOS AUSTRIA INTERNATIONAL WIRD DIE verbleibenden Anteile von Entretenimiento y Juegos de Azar (ENJASA) erwerben und erhält damit die volle Kontrolle und das Eigentumsrecht an diesem argentinischen Betreiber.
DER FRANZÖSISCHE CASINOBETREIBER GROUPE Partouche das Tribunal de Commerce de Paris (ähnlich Kapitel 11 Konkursschutz) um Gläubigerschutz gebeten; das wird es dem angeschlagenen Unternehmen erlauben, die Begleichung von Schulden in Höhe von € 233,7 Millionen vorübergehend zu unterbrechen.
JPM LIQUIDATE INTERNATIONAL ARM
The JPM Group’s UK manufacturing company, JPM International, has been placed into Voluntary Liquidation
UK - Manufacturing
Simon Herbert, the JPM Group’s owner, has con- firmed that he had been forced to voluntarily liq- uidate JPM International as a result of financial pressures associated with the existing pension fund acquired with the company in 2010. It was also confirmed that the JPM Group brand will con- tinue with Synot.
JPM had been a UK based manufacturer and dis- tributor of games and gaming machines since 1972. The company has down-sized drastically from the days of 300+ employees and £40m turnover in the late 80’s to the eventual outsource of manufactur- ing in 2004, following the MBO by the then FD and MD, from Sega of Japan. This lead to the subse- quent move of the Cardiff facility to more modest premises in Cardiff Bay. The R&D and administra- tive function resided at the Head Office in Birmingham during this transition and remained there until this day.
In 2010, Simon Herbert bought the company, and, after some restructuring internally, focused on materials costs and improvement in trade terms which resulted in a return to profit for FY11. At the beginning of 2012 there was an unforeseen marked decline in demand from major export cus- tomers, but despite this, JPM International in uni- son with export customers continued its on-going commitment in development, to overcome the issues in the market, with innovative new prod- ucts and content.
To complement the export business, Mr. Herbert heavily invested in the company’s working capital to pursue the UK market; but disappointingly,
limited success was hard won. The successes were not sufficient enough to offset the significant downturn in the export market.
Despite the best efforts of the management, which has lowered fixed costs, improved margins and entered new markets, the root cause for the com- pany’s demise is the legacy liability of the defined benefit pension scheme that has passed down through successive owners.
The company historically made a commitment to monthly contributions to alleviate the deficit, which per the latest FRS17 valuation is in excess of £30m. The top-up contributions have risen year on year from £150,000 per annum in 2011, to their current level of £250,000 per annum in 2013, with an increase of a further £50,000 per annum until 2038. In light of the downturn in economic condi- tions this could no longer be realistically sustained. When it became apparent that the company could no longer pay its creditors if and when they fell due, in addition to making the pension top-ups, the directors felt they had no option other than to take professional advice about winding up JPM International.
On October 4, 2013 a board meeting was held and FRP Advisory LLP have been instructed to assist management in placing JPM International into Voluntary Liquidation.
SPAIN Zitro eBusiness Division made its first appearance at EiG Bracelona, considered the calendar meeting point for the iGaming industry. Zitro eBusiness Division presented its online gaming products for the egaming industry. Zitro eBusiness Division Director, Rais Busom, called the exhibition a ‘great success,’ helping to: “Create a brand in the iGaming sector which is already making a big impact amongst the major players,” commented Mr. Busom. EiG Barcelona is a global open space which, as well as having a large exhibition area, also included keynote speeches by speakers of international renown, a space for workshops, talks and other meetings to encourage networking.
Partouche Group seeks debt tribunal protection ‘safeguard’
FRANCE French casino operator Groupe Partouche has sought creditor protection at the Tribunal de Commerce de Paris (similar to Chapter 11 bankruptcy protec- tion) that will allow the struggling company to temporarily halt debt payments amounting to €233.7m.
The 'safeguarding' application 1 6
will allow the company to sus- pend debt repayments in order to raise funds to pay creditors and avoid insolvency. Partouche is France’s number two casino operator, behind only the Barrière group (operating 49 casinos, 15 hotels, spas and golf courses), but Partouche has failed to turn a profit in each of the past five years, posting a €17.1m loss in
2012. The slide has continued into 2013, with revenue down 3.5 per cent to €328.7m in the first nine months of its fiscal year.
The company has been wrestling with it debt for the last five years, employing asset divestment plans to restructure its debt and in the last 12 months Partouche's debt to total capital ratio has fall- en to 43.48 per cent from the pre- vious year's 79.69 per cent. However, in 2012 Groupe Partouche did not generate a sig- nificant amount of cash as net income fell 146.09 per cent.
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