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Global Gaming names Atari founder as new CEO

first_img Global Gaming names Atari founder as new CEO Tags: Online Gambling Blockchain gaming investment business Global Gaming Technologies has appointed Nolan Bushnell, the founder of Atari Inc., as its new chief executive and chairman, while the company also striking a deal to acquire Videre eSports Corp. and expand into the esports sector.Bushnell takes on the new roles having previously served as CEO of X2 Games Corp, a blockchain games developer which is a wholly-owned subsidiary of Global Gaming. The Vancouver-based business is an entirely separate entity from the similarly-named Ninja Casino operator. In addition to co-founding iconic video gaming brand Atari, Bushnell founded the Chuck E. Cheese’s Pizza Time Theatre chain. Apollo Global Management acquired the business for $1.3bn (£987.5m/€1.1bn) in 2014.“The appointment of Nolan to the board of directors will enable us to build a stronger footing in the ever-growing interactive gaming space and we look forward to his many years of leadership and experience within the gaming industry that he brings,” Global Gaming president Shidan Gouran said.Meanwhile, the business has also entered into a definitive agreement to acquire all of the issued and outstanding common shares in the capital of Videre eSports Corp.The British Columbia-based company holds certain intellectual property assets, including a proprietary esports betting platform that is scheduled to launch in the second quarter.Global Gaming is to issue 428,865,080 common shares – at an agreed price of $0.02 per share – in exchange for all of the issued and outstanding common shares in Videre This represents an aggregate purchase price of $8.58m.As part of the agreement, Videre will merge with a Global Gaming subsidiary, which will assume the name Videre eSports Corp, while, a unique esports betting platform developed by Videre will become part of Global Gaming. Videre will operate as a wholly-owned subsidiary of Global Gaming.Should the deal go through as expected, the former shareholders of Videre on a collective basis will own 37.19% of the issued and outstanding share capital of Global Gaming. No individual shareholders of Videre will hold more than 10% of the issued and outstanding share capital of the company.Commenting on the deal, Bushnell said: “esports is the future. Young audiences, large prize pools and thousands of entertaining games attract crowds to stream and attend these events.“The growth of the esports sector has been fuelled by the rapid adoption of technology among millennials, the general rise in all types of online gaming and games’ winning combination of competitive sport and Hollywood-style entertainment.“Using the Videre platform through the games we are currently developing will be an exciting prospect and provide for synergies in the years of our company to come.”Image: GDC 7th March 2019 | By contenteditor Blockchain gaming investment business Global Gaming Technologies has appointed Nolan Bushnell, the founder of video game developer Atari Inc, as its new chief executive and chairman, while the company has also agreed a deal to acquire Videre eSports Corp and expand into the esports sector. Esportscenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Subscribe to the iGaming newsletter Topics: Esports Strategylast_img read more

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Enlabs proposes appointments for Global Gaming board

first_img5th August 2020 | By contenteditor People Subscribe to the iGaming newsletter Topics: People Strategy Baltic-facing operator Enlabs has put forward a number of proposed individuals to be appointed to a new board of directors at Global Gaming, in relation to its recent acquisition of a larger stake in the Ninja Casino operator. Baltic-facing operator Enlabs has put forward a number of proposed individuals to be appointed to a new board of directors at Global Gaming, following its recent acquisition of a significant stake in the Ninja Casino operator. In June, Enlabs agreed to purchase a further 11.3m shares in Global at a price of SEK8 per share, valuing the deal at around SEK90.4m (£7.9m/€8.8m/$10.4m). The acquisition meant that Enlabs now holds a total of 12.2m shares in Global, becoming its largest shareholder with a 29.9% stake in the operator. As such, Enlabs has now submitted proposals for a number of suggested appointments to the operator’s board of directors.Among these was Niklas Braathen, current chairman of the Enlabs board, with the recommendation that he also become chair of the new-look Global board. Enlabs also proposed that Christian Rasmussen, who has run his own business in corporate finance since 2010 and participated in a series of transactions in the gaming industry, join Global’s board and serve as chairman of its remuneration committee. Michael Niklasson, who has served as a lawyer since 1995 and also as an advisor to companies within the gambling sector since the 1990s, was also put forward, as was Jonas Bertilsson, chief executive of investment company Rugosa and the current chairman of board at Nordic eTrade AB. In addition, Enlabs proposed Arne Reinemo, who only joined the Global board in May of this year, be reappointed to the new-board. The proposals come as Global Gaming today (5 August) published its financial results for the first half of the year, during which it was able to reduce its losses, despite seeing revenue decline 55.9% year-on-year.center_img Enlabs proposes appointments for Global Gaming board Tags: Online Gambling Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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US GGR down 45.6% in H1 as Covid-19 wreaks havoc

first_img Email Address Regions: US Tags: Online Gambling Slot Machines Casino & games Topics: Casino & games Finance Sports betting Slots Table games US commercial gross gaming revenue (GGR) for the first half of 2020 fell 45.6% year-on-year to $11.70bn, according to the latest figures from the American Gaming Association (AGA). AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter US GGR down 45.6% in H1 as Covid-19 wreaks havoc US commercial gross gaming revenue (GGR) for the first half of 2020 fell 45.6% year-on-year to $11.70bn, according to the latest figures from the American Gaming Association (AGA).However, in a period where novel coronavirus (Covid-19) caused much of the US gambling industry to grind to a halt, online gaming revenue rocketed.For the half year period, land-based slots were the largest driver of revenue, bringing in $7.36bn, but this was down 78.0% from 2019. Table games suffered the most severe drop, with revenue declining 78.5% to $2.13bn.Despite suspensions of sports across the globe, sports betting revenue increased by 10.4% to $324.9m, thanks mostly to high revenue figures of more than $250m in the first quarter of the year.Read more on iGB North America. Subscribe to the iGaming newsletter 13th August 2020 | By Daniel O’Boylelast_img read more

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Greek online gaming licence process begins

first_imgThe online gambling reforms were part of a wider package, called Invest in Greece, that included legislation intended to streamline environmental and planning regulations. Greek online gaming licence process begins 8th October 2020 | By Richard Mulligan Regions: Europe Southern Europe Greece Topics: Legal & compliance Licensing Regulation Email Address Per the bill passed last year, the 24 operators that were granted temporary licences in 2011 were allowed to continue operating until 31 March this year, then have to reapply. The Hellenic Gaming Commission said submissions can now be made online for all legal entities, including shareholders, key executives, manufacturers, technology suppliers and certification bodies. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Licence holders must pay a 35% gross gaming revenue tax rate. Play is restricted to those aged 21 and above. The regulations also impose strict conditions for online casino, including a €2 maximum slot stake, with prizes capped at €5,000, and a €50,000 limit for jackpot games. The International Betting Integrity Association (IBIA) criticised the Greek government’s plans at the time. It said: “While IBIA welcomes aspects of the regulations, most notably the general opening the market and the ability for all betting operators to apply for a licence and to operate in Greece, the association contends that there is clear evidence from other jurisdictions that the approach proposed will in fact deter many betting operators from being licensed in the market.” Two types of licences are available – to conduct online betting and to conduct other online games of chance. The Greek Ministry of Finance submitted its draft gambling regulations to the European Commission in January 2020 after being passed in the country’s parliament last October. Greece’s gambling regulator has opened the application process for its new online gaming licences. The submission confirms that separate licences will be made available for online sports betting and other online games, priced at €3m (£2.5m/$3.4m) and €2m respectively. Each will run for seven-year terms. Licensinglast_img read more

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Global Gaming Asset Management files $296.6m lawsuit against Solaire Casino operator

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter It added that under the terms of the agreement, GGAM would have a right to purchase 10% of equity in Solaire, and could earn a similar deal in any future Bloomberry casino projects. Legal GGAM said that as Razon – who also owns port management business International Container Terminal Services and is the second richest person in the Philippines – exerts “domination and control” over Bloomberry, the suit could be filed against him personally as well as against the business. It cited a Wall Street Journal interview in which he refers to making most decisions “unilaterally”. Subscribe to the iGaming newsletter The suit says Razon convinced GGAM – a joint venture that manages casino resorts, set up between private equity business Cantor Fitzgerald and various former Las Vegas Sands executives – to provide “substantial assistance” in developing the Solaire. The $296.6m figure comes from an arbitral tribunal that met in 2018. It determined that the value of the option shares was $196m, with a further $85.2m in lost management fees, $391,000 in pre-termination fees and expenses and $15.0m in legal fees. 30th March 2021 | By Daniel O’Boyle This became the country’s first integrated resort, and GGAM said it invested “tens of millions of dollars” into the project. According to the business, Razon sought to use GGAM’s “planning, technical, advisory, management, and operational services”. However, over six months after the casino opened, GGAM says Razon terminated the deal, withholding fees to the business. Casino management business Global Gaming Asset Management (GGAM) has filed a lawsuit against billionaire owner of Bloomberry Resorts Corporation, Enrique Razon, seeking $296.6m (£216.3m/€253.0m) in damages over the termination of a contract to manage the Solaire Resort and Casino in the Philippines. “Pouring salt on GGAM’s wound, Razon also leveraged his personal relationships in the Philippine stock market to unlawfully prevent GGAM from selling its equity interest in the project – an obstructive effort Razon continues to this day,” the filing added. Topics: Legal & compliance Land-based casino Legal Global Gaming Asset Management files $296.6m lawsuit against Solaire Casino operator GGAM said its work with Solaire included recruiting a management team, negotiating contracts and managing customer databases including VIP junkets. Regions: Asia Philippines Email Addresslast_img read more

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The potential impact of an esports regulatory body in the US

first_imgA governmental body with the ability to enact and enforce rulings would greatly impact the public perception of esports. As of right now, rule enforcement is entirely up to the tournament organiser, which can lead to some very messy situations, such as StarLadder banning Canadian team Lazarus for playing with a coach while allowing MiBR to do the same thing in the playoffs.  No partners have been mentioned yet but a new overseer will need to cooperate with the existing ecosystem. Anti-cheating agencies like the ESIC and tournament hosts such as the Electronic Sports League will likely become involved. Betting sites should consider partnerships with existing regulatory groups as they’ll become even more coveted once acknowledged by legal bodies. The potential impact of an esports regulatory body in the US “We have already seen how sanctioning professional boxing and UFC has helped tourism, generated tax revenue, created jobs and enhanced the Nevada visitor experience by providing them a wonderfully entertaining experience,” he wrote. Email Address For all its glitz and glamor, the esports industry is still in its developmental stages. The current standards for tournament hosting would have been unthinkable just a few years ago. There’s still plenty of room to progress as Senator Kieckhefer acknowledges.  Image: BogoGames/Creative Commons Nevada State Senator Ben Kieckhefer is currently drafting legislation for a governmental esports oversight body, which would be modelled after the Nevada Athletic Commission. The proposed board would issue official esports competition licenses and officiate events in the state, but what would this mean for esports in the US? By Kenneth Williams Betting operators should keep a close eye on Senator Kieckhefer’s proposals. A governing body is a huge step towards legitimising esports events in the public eye, meaning general awareness for esports should increase as a result. Topics: Esports esports regulation How can this impact esports betting in the US? Esports 12th April 2021 | By contenteditor Moreover, existing esports infrastructure in Vegas, including the HyperX Esports Arena at The Luxor, will become even more valuable for their proximity to America’s sole esports oversight committee. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Those are just a handful of recent incidents in Counter-Strike, but similar situations constantly appear across competitive titles. A legal body could interfere with improper rules enforcement and hold tournament organisers accountable. Multiple gambling experts claim that the move will further centralise Las Vegas as the United States’ esports capital. Seth Schorr of the Nevada Independent likens the current state of esports to the glory days of Las Vegas boxing. The current lack of oversight is the biggest obstacle between esports and their potential. Counter-Strike: Global Offensive alone provided hundreds of cheating accusations in 2020, many of which were investigated and confirmed by the Esports Integrity Commission. More than 40 CS:GO coaches were banned for exploiting camera glitches in a massive scandal and match-fixing concerns still run rampant at the lower levels of the professional scene. Subscribe to the iGaming newsletter Tags: Esports Esports Integrity Commission Nevadalast_img read more

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Administrators open Football Index claims process

first_imgHowever, Football Index’s terms and conditions said that funds invested in players through bets on the platform have no such protection, as these were considered sums at risk. Email Address Administrators open Football Index claims process 14th April 2021 | By Marese O’Hagan Tags: Gambling Commission Football Index BetIndex Subscribe to the iGaming newsletter In March the GB Gambling Commission defended its decision not to suspend BetIndex’s licence earlier following a review into the company. On the same day, BetIndex suspended its platform and went into administration. The Gambling Commission later received a promise that player funds would be paid before other commitments, though it noted that this was not binding. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The GB Gambling Commission suspended BetIndex’s operator licence last month following concerns over whether activities carried out on its licence were in accordance with the licence conditions. Football Index operator BetIndex has announced the opening of its claim process for customers who are still owed money from the company. In addition, law firm Leigh Day Solicitors announced an investigation into Football Index as part of a group claim from customers. Legal & compliance Topics: Legal & compliance Compliance Legal Licensing Regulation The administration announcement specified that Football Index account funds were held in a separate trading account from BetIndex’s accounts, and although arrangements were made to protect these funds, BetIndex stated there was “no guarantee that all funds will be repaid in the event of insolvency”. Regions: UK & Ireland Adrian Hyde, Adrian Rabet and RH Toone of Begbies Traynor have been appointed as joint administrators and will handle the process. Customers must complete an online form to notify administrators and BetIndex of their potential claim, but have been advised that this does not verify the validity of their claim.last_img read more

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BARC Ratings: Troubled times for sports genre; depleted cricket tops charts

first_img WTC Final Day 3 Stumps: India remove Conway and Latham but Kiwis on top; NZ 101/2 (49 ovs) trail by 116 runs by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePhotoStickHow To Back Up All Your Old Photos In SecondsPhotoStickE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! Onlinecio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comThe absence of live cricket content, except for the India-Windies T20I has also led to a massive fall in the gross impressions for the top 5 sports channels. Star Sports First, however, made some gains as the free to air space audience bounced back from DD Sports for there being not enough quality cricket.However, sports is set to make major gains next week on the strength of the first two T20 Internationals on the India’s tour Down Under. The gain now will go to Sony, Cricket Australia’s sole and exclusive media rights holder for the Indian sub-continent.Star Sports after having dedicated the Hindi movie channel Star Gold and a new campaign with Mahendra Singh Dhoni will be expecting enhanced numbersn for Pro Kabaddi, which has left a lot to be desired by its own standards. RELATED ARTICLESMORE FROM AUTHOR Share on Facebook Tweet on Twitter BCCI Apex Council Meet: BCCI to bid for 3 major global events in next tournament cycle starting from 2024; Check WI vs SA 2nd Test Day 3 Live: South Africa in huge trouble; SA 59/6 (22.3 ov)- Follow Live Updates Cricket Cricket WTC Final LIVE: Devon Conway continues red-hot form, slams fifty to provide New Zealand dream start YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredDefinitionWhat ‘Harry Potter’ Characters Were Actually Supposed To Look LikeDefinition|SponsoredSponsored BARC Ratings: Troubled times for sports genre; depleted cricket tops charts TAGSBARCBARC RatingBARc RatingsBroadcast Audience Research CouncilDD SportsPro KabaddiStar SportsSTAR SPORTS 1 HINDI SHARE Cricket Previous articleIn his second stint with tyres, Sachin to promote brand ApolloNext articleWomen’s World T20: Catch LIVE India’s revenge game against England Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Football Cricket Euro 2020- Switzerland beat Turkey 3-1: Shaqiri’s brace keep Switzerland hopes alive; Turkey face exit from Euros Football Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore WTC Final IND vs NZ: Virat Kohli displays his dancing skills on the beats of Bharat Army’s Dhol; Watch video Cricket WTC Final LIVE: Jamieson says, ‘nice and pleasing to get Virat Kohli’s wicket’; Gill feels India could have got more wickets By Kunal Dhyani – November 22, 2018 CricketLatest Sports NewsSports BusinessNewsSport PSL 2021 Eliminator 1 PES vs KAR LIVE: best way to watch Peshawar Zalmi vs Karachi Kings Live Streaming in your country, India, Follow Live update Facebook Twitter Cricket Sports genre programming on Indian television has taken a big hit even as cricket with depleted numbers continues to top the BARC television ratings chart. The Week 46 (November 10-16) Broadcast Audience Research Council (BARC) ratings show a massive fall in sports audience in the absence of quality cricket content.The third and last T20 International between India and West Indies, the only live content involving the Indian cricket team, as the sports genre driver occupies the top five shows position for the week for live Hindi and English broadcast, simulcast on DD Sports and the review shows on DD Sports and Star Sports 1 Hindi respectively. Live broadcast of the match on Star Sports 1 Hindi as the No. 1 show for the week is the only gainer. For the remaining top 5 spots, the significant decline in impressions will leave the broadcaster, sponsors and other stakeholders worried. Cricket Latest Sports News Euro 2020, Italy vs Wales LIVE: Matteo Pessina goal helps Italy beat Wales, finish top of Group A with flawless record; Follow Live Updates last_img read more

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Tanzania Breweries Limited (TBL.tz) 2001 Annual Report

first_imgTanzania Breweries Limited (TBL.tz) listed on the Dar es Salaam Stock Exchange under the Beverages sector has released it’s 2001 annual report.For more information about Tanzania Breweries Limited (TBL.tz) reports, abridged reports, interim earnings results and earnings presentations, visit the Tanzania Breweries Limited (TBL.tz) company page on AfricanFinancials.Document: Tanzania Breweries Limited (TBL.tz)  2001 annual report.Company ProfileTanzania Breweries Limited produces, distributes and sells malt beer in Tanzania, as well as non-alcoholic malt beverages and alcoholic fruit beverages. The company markets its own products under the following liquor brands; Safari Lager, Kilimanjaro Premium Lager, Ndovu Special Malt and Konyagi. Tanzania Breweries also produces and distributes Castle Lager, Castle Milk Stout, Castle Lite, Peroni and Redds Premium Cold under license from SABMiller International BV. It also distributes international wines and spirits under license from Distell (Pty) Limited of South Africa. It is the largest and oldest brewing company in Tanzania, with breweries in Dar es Salaam, Arusha, Mwanza and Mbeya. Tanzania Breweries Limited is a subsidiary of SABMiller Africa BV. Tanzania Breweries Limited is listed on the Dar es Salaam Stock Exchangelast_img read more

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First National Bank of Botswana Limited (FNBB.bw) 2002 Annual Report

first_imgFirst National Bank of Botswana Limited (FNBB.bw) listed on the Botswana Stock Exchange under the Banking sector has released it’s 2002 annual report.For more information about First National Bank of Botswana Limited (FNBB.bw) reports, abridged reports, interim earnings results and earnings presentations, visit the First National Bank of Botswana Limited (FNBB.bw) company page on AfricanFinancials.Document: First National Bank of Botswana Limited (FNBB.bw)  2002 annual report.Company ProfileFirst National Bank of Botswana Limited is a financial services institution providing products and solutions for personal, business and private clients in Botswana. Its personal banking division offers the standard range of transaction products as well as student accounts, overdrafts and loans and online banking products. The business banking division offers additional services such as purchase order finance, premium credit facilities and commercial property loans. First National Bank of Botswana also provides agricultural solutions, farming enterprise finance, business investment solutions and farm risk insurance finance along with solutions for payments, funding, cash management services to the public sector, and treasury and trade services. The private banking division offers wealth and advisory services, and structured lending services. The banking group facilitates its banking services through the Pick n Pay franchise with a sales and service channel called FNBB Kiosk. First National Bank of Botswana Limited is a subsidiary of First National Bank Holdings (Botswana) Limited.last_img read more

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