News INTERNATIONAL UPDATE
IGT HAS SIGNED AN AGREEMENT WITH Atlantic Lottery, a public corporation owned by the governments of Nova Scotia, Prince Edward Island, New Brunswick and Newfoundland and Labrador, to provide 1,612 video lottery terminals for the replacement of obsolete units. IGT is a long-time partner of Atlantic Lottery, providing VLTs for their program since its start in 1990. The contract between IGT and Atlantic Lottery will continue to strengthen their video lottery network by providing world-class gaming to patrons. “Through our combined efforts with Atlantic Lottery, IGT looks forward to bringing exceptional products to the VLT market,” said Eric Tom, IGT VP North American Sales. “We are excited to extend our partnership with Atlantic Lottery as we continue to deliver the industry's leading game library.” The platform being provided is IGT’s GL20 lottery terminal. Designed specifically for the video lottery industry, the GL20 complies with industry standard Gaming Association specifications and G2S protocols.
BWIN.PARTY IS TO spend US$50m over the next two years to create a new social games platform called ‘Win’. The plan to enter the world of social gaming hinges on the $23m purchase of two eastern European social gaming developers, Velasco and Orneon. The investment would bring several existing social gaming business contracts and a team of 330 software engineers. Jim Ryan and Norbert Teufelberger, the co-CEOs of
bwin.party, said: “We have chosen a 'build and partner' strategy, one that provides us with both the resources and additional management expertise to execute our planned extension into social gaming - an exciting and fast growing area of digital entertainment that is the latest addition to our business strategy. We are excited by the potential of this new market and believe we can deliver attractive returns in the medium term through relatively modest investment, funded from operating cash flow over the next 18 months.”
bwin.party’s social media roadmap will see the development of a poker-based social gaming product, as well as a casino and sports-book application, which it hopes to launch by the end of the year. Barak Rabinowitz, head of
bwin.party’s social gaming strategy, added: “Social games, in general, are games whose fun is derived from the social interaction of the users, or games that are distributed on social networks such as Facebook, smartphones and other platforms.” It plans to release new gaming content every two weeks through ‘Win’ with the hope that the new division wil be profitable within two years.
Saipan casino time extension
Despite the Senate axing a casino gaming bill, Saipan regulators gauge public opinion
Regulators on the island of Saipan have given casino proponents more time in their bid to drum up signed support for a proposal to introduce casino gaming to the islands. The island, which forms part of the Commonwealth of the Northern Mariana Islands’ (CNMI), has long since touted casinos as a means to stabilise its economy and increase tourism.
However, only 497 people signed a petition of support, despite casino advocates hoping they would attract 20 per cent of the 12,948 registered voters on Saipan or 2,590, the number required by law to bring the change in legislation. Attorney General Edward Buckingham has given Dr. Jack Angello, who is leading the proposal, more time to submit the petition no later than 120 days before
Casino investors
are believed to be keen on Saipan due to its
infrastructure, its
international airport with direct and
connecting flights to Asia and the Pacific.
Codere stretches Italian footprint with acquisition
Saipan’s November 6, 2012 election.
“Rather than formally certifying that you have not met the constitutional requirements, as a courtesy, I am giving you an opportunity to withdraw your petition. You would then still be able to submit a late-filed petition no later than 120 days before the next election,” the Attorney General confirmed.
“We are asking people to support and sign the petition to help the CNMI economy,” Dr. Angello said.
Echo sounds early profits warning
Spanish operator Codere has expanded its operations in Italy by buying a 60 per cent stake in machine operator DP Service. DP Service operates around 2,000 gaming machines in the provinces of Padua, Venice, Rovigo, Treviso, Vicenza, Verona, Belluno, Udine, Gorizia, Trieste and Ferrara.
Alexander Pascual, Chief Executive Officer for Codere Italy, said of the deal: “We are committed to collaboration with serious and motivated companies to share with them a long-term plan to strengthen our position in the country. Professional management, coupled with the local knowledge of DP Service can help us to meet new challenges on the basis of
quality and reliability. Thus, we are able to make a difference, achieve synergies and economies of scale ever more effectively.”
Codere stated that Rome- based DP Service has ‘many years of activity’ in the Italian gaming machine market and is ‘particularly attentive to the needs of customers’.
Claudio Dalla Pria, Managing Director for DP Service, commented: “We are delighted to have concluded this important transaction not only for the added value of a company like Codere to tackle new projects in the market but, thanks to the new corporate structure, we can ensure greater professionalism and service.”
Echo Entertainment is looking to offset an unexpected 39 per cent dip in earnings by issuing A$454m worth of new shares. With predicted earnings dipping to between $270m and $315m for the year to June 30, the group is moving to strengthen its balance sheet. Player apathy and the volatility of the VIP sector saw trading conditions remain tight in the second half of the year. Echo wants the stronger balance sheet to be able to hold up the volatility of its VIP, high-rolling business. Echo Chief Executive Larry Mullin said: “"Trading conditions have remained difficult in (the second half of financial year 2012) with revenues negatively affected by soft consumer sentiment. The entitlement offer announced today will reduce gearing, help ensure a more appropriate capital structure and maintain financial flexibility for the company. The (international VIP) business provides a large growth opportunity for Echo both through improved market share and underlying volume growth.”
July 2012 PAGE 19
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