Sportingbet – the UK-listed internet betting outfit – is snapping up Paradise Poker for £169m ($297.5m) as part of its bid to become a monster online sports betting and gaming based entertainment business.
Sportingbet is shelling out £105m ($193m) in cash and the rest in shares for Paradise, which is one of the four largest internet poker sites around. Established in 1999, Paradise is thought to command a ten per cent market share of the online poker sector generating turnover of $37.2m (£20.3m) and an operating profit of and $21.3m (£11.6m) in the first seven months of 2004.
Nigel Payne, chief executive of Sportingbet, reckons the deal is a “significant step forward” in its strategy to become “the world’s leading online sports betting and gaming based entertainment business”. More about ฟรีเครดิต
It means that it can offer its punters even more ways to lose their money by offering sports betting, casino, bingo, gaming and poker under one virtual roof with a “shared purse” so that customers have a single user name, password and account.
Earlier this month the Government published its new gambling bill designed to shake up the betting industry. Although the legislation covers the whole of the industry, part of it also covers the explosion in internet gambling and casinos.
The Government insists the new measures would protect children (by including compulsory age checks for gambling websites for example) and the vulnerable. Critics claim the measures – which include a relaxation of some existing laws – would lead to a massive rise in gambling addiction and indebtedness.
BETINTERNET.COM AND CWC GAMING BRING LAND BASED CASINO TO THE WEB
Betinternet.com, the global on-line gaming group, and CWC Gaming, the licensing arm of CasinoWebcam, the leader in live online gaming, today announce the signing of a partnership agreement which will lead to the launch of the betinternet Live Casino, an online casino with real tables, real dealers, and real cards.
The betinternet Live Casino will use CWC Gamings state of the art video and audio streaming technology and the Internet to bring the actual land based casino gaming experience to players homes. The betinternet Live Casino is anticipated go live in Q4 2004.
The betinternet Live Casino will feature live blackjack, baccarat, sic bo, and roulette, with all games available using CWC Gamings second generation casino software. Using real time webcast, betinternet players will be able to see, hear, and play live casino games run by CWC Gamings croupiers and floor supervisors in accordance with industry standards for fairness and integrity. Players will be able to use the same betinternet account login information for both the betinternet sportsbook and betinternet Live Casino, eliminating the need for duplicate account registration and cash transactions.
Paul Doona, CEO of betinternet.com, said: Our customers want the same level of fairness and integrity in an internet casino as they enjoy when betting on sports events with us. By partnering with CWC Gaming to launch the betinternet Live Casino, we will be able to provide our players with the same standards of fairness and integrity associated with regulated, land based gaming.
Adam Anhang, CEO of CWC Gaming, said: We are excited to operate this live online casino with betinternet.com. betinternet.com has built a formidable presence in Asia, and given our experience in that region, we anticipate being able to assist betinternet in broadening their revenue potential.