RESCUED GROUP’S £10M PROFITS
The Isle of Man’s Sefton Group, which was rescued with a controversial government loan, has posted profits of £10m
UK - Casino Operations
The Isle of Man’s Sefton Group, which was rescued last year thanks to a controversial government loan, has posted profits of £10m. The Sefton Group is a Manx company that owns the Sefton and the Palace Hotel Casino on Douglas promenade, along with the Sefton Express hotel near Ronaldsway airport.
An employer of 340 people and a supporter of 150 local companies, in April 2013 the Sefton Group received a government rescue package of £4.5m including a £1.3m loan, plus £3.2m to buy devel- opment land in Douglas. When scrutinised by independent lawyers the deal was later found to have been made “outside of government powers”. It was also heavily criticised by other hotel own- ers for creating “a biased and dysfunctional com- mercial environment, with unfair competition”.
At the time of the loan the hotel/casino group was facing debts of around £1.7m, with much of the debt owed to local businesses on the island. The Manx government said the funds had been grant- ed under the Enterprise Act, which provided the
group with a loan of £1.3m repayable after five years. When details of the arrangements were made public, politicians objected on the grounds that it put other hotel owners at a commercial dis- advantage.
Sefton chairman Miles Walker told local press that the profits posted by the group “justify the inter- vention”. He added: “Bearing in mind that the Sefton Group is the employer of 340 people, the customer of 150 local companies and is owned predominantly by 550 local shareholders, the government deserves plaudits, not brickbats for supporting such a key player in the Isle of Man economy.”
However, such has been the fallout from the granting of the loan that the Manx economic development minister, John Shimmin, was forced to resign over the issue at the end of June.
Slovenia Ministry of Finance of Slovenia has appointed GLI Europe BV as “an institution for issuing gaming device test reports for the jurisdiction of Slovenia.” GLI Europe BV is privileged to be the first foreign company to be permitted to provide these services. GLI Europe Managing Director Martin Britton said, “This has been a strategic project allowing GLI to issue gaming device test reports directly to the Regulator for this market, saving time and cost to the client, while being able to provide onsite services within Slovenia. It is a great achievement for GLI, which also benefits our clients. We are thankful to the Ministry for the trust they have placed in GLI.”
Further acquisitions for Greentube with Bingocams
AUSTRIA Greentube, a leading developer and provider of skill games for internet, mobile, PC and iTV and its parent company, the Novomatic Group, has acquired Bingocams, one of the most pop- ular and innovative online bingo platforms, from Dazzletag Entertainment Limited.
The Bingocams integrated web platform combines online bingo with social media and video. Players can engage each other via two or three person private web- cam chats during game play, thereby re-establishing the tradi- tional social element of live, in- person bingo.
“Bingocams is a welcome addi- tion to the Greentube line of
iGaming solutions,” said Thomas Graf, CEO of Greentube. “This acquisition marks another major step forward for Greentube and further enhances Novomatic’s position of significance within the ever expanding new world of online gaming.”
Dazzletag revolutionised the online bingo industry when they introduced their no-download
Bingocams application. The plat- form offers players a wide range of bingo games in a friendly, interpersonal environment that includes live chat among players and live chat with hosts. In addi- tion, Bingocams offers a patented Live Win Moment that provides a visual playing experience that captures the social spirit of live bingo.
“This is a very exciting day for Dazzletag Entertainment and we are delighted to join the Novomatic Group of Companies,” said Marin Muyser, Managing Director of Bingocams. “We believe there is a substantial opportunity to leverage our exist- ing business now that we are part of the world’s leading gaming company. We have always aimed to roll out our unique bingo soft- ware internationally and with Novomatic’s/Greentube’s global presence we will be able to accel- erate this strategy substantially.”
UM DIE SPIELKAPAZITÄT ZU ERHÖHEN, INSTALLIERTE das Alea Casino in Glasgow ein neues i-Table-Roulette von Bally Technologies mit sieben Spielpositionen, ein Fusion Hybrid mit 16 Positionen sowie ein Dealer-Terminal. Spieler können über den Fusion Live Video-Link unter vier ver- schiedenen Roulettekesseln auswählen, die über das Casino verteilt sind.
INTERNATIONAL GAME TECHNOLOGY unterzeichnete einen Vertrag mit DLV über die Installierung von IGT- Systemen in 50 Spielhallen; dadurch werden in den nächsten zwei Jahren etwa 1.000 Automaten an zahlreichen Standorten in ganz Lettland miteinander verbunden.
DIE ASSOCIATION OF GAMING EQUIPMENT Manufacturers (AGEM) bewilligte die Mitgliedschaftsanträge von neun neuen Unternehmen. Damit hat die Handelsgruppe, bestehend aus den weltweit größten Herstellern von Glücksspielzubehör, insgesamt 141 Mitglieder.
GAMING PARTNERS INTERNATIONAL HAT DIE Übernahme der GemGroup für US $ 19,75 Mio. perfekt gemacht. Gregory Gronau, Präsident und CEO bei GPIC, sagte: „Wir sind erfreut mitteilen zu können, dass die erfolgreiche Übernahme der GemGroup mit ihren bekannten Spieleprodukten der Marke Gemaco abgeschlossen werden konnte.”
DIE ITALIENISCHE GTECH S.P.A. HAT EINEN definitiven Fusionsvertrag mit International Game Technology, einem Unternehmen mit Sitz in Las Vegas, Nevada, geschlossen. Gemäß den Bedingungen der Transaktion wer- den IGT und GTECH unter einer neu gegründeten Holding- Gesellschaft (NewCo) im Vereinigten Königreich zusam- menkommen. Der Gesamtwert der Transaktion beträgt ca. $ 6,4 Mrd., inklusive der angenommenen ca. $ 1,75 Mrd. an bestehenden Nettoverbindlichkeiten von IGT.
ARISTOCRAT STEHT VOR DEM KAUF DER US-GRUPPE Video Gaming Technologies. Der Wert des Deals beträgt $ US 1,3Mrd. und führt zu einer größeren Präsenz von Aristocrat am wichtigsten Casinomarkt für Stammesangehörige in den USA. Das Bargeschäft, bei dem Aristocrat außerdem seine Kreditfazilitäten in einem neuen Paket von Verbindlichkeiten in Höhe von $ 1,4 Mrd. refinanzieren wird, soll bis Ende der ersten Hälfte 2015 abgeschlossen werden.
DER AUSTRALISCHE STAAT NEW SOUTH WALES HAT James Packers Crown Resorts eine Lizenz für ein integriertes, 6-Sterne Luxusressort-Projekt in Sydney erteilt, das zweite Casino des Unternehmens in dieser Stadt. Crown zahlt A$ 100 Mio. (US $ 94 Mio.) für die 99-Jahre-Lizenz, die ebenso eine Reihe anderer Bedingungen beinhaltet, wie z. B. minimale Steuereinnahmen für den Staat.
DAS ÖSTERREICHISCHE FINANZMINISTERIUM HAT eine der neuen Casinokonzessionen in der Hauptstadt Wien an das Grand Casino Wien vergeben, ein internationales Joint- Venture unter der Führung des Stadtcasino Baden Group, renommierter Betreiber des Grand Casino Baden in der Nähe von Zürich und des Casinos Davos in der Schweiz. Die beiden verbleibenden Konzessionen gingen an Novomatic, was Hunderte neuer Jobs in Österreich schaffen wird. Novomatic wird zwei ultramoderne Casinos bauen, eines am Wiener Prater und eines im niederösterreichischen Bruck an der Leitha.
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