Online Casino Gambling Newsbriefs
Published: Friday, March 04, 2005 Online-Casinos.com
NEWSBRIEFS
Net Entertainment parent acquires an online betting exchange
As InfoPowa went to press this week the news was coming in that Swedish public
company Cherry AB, which owns the well known online gambling turnkey provider
Net Entertainment has acquired the betting exchange Betsson. Cherry’s board
decided to convert its convertible loans and call in all options in the British
Internet gaming company Betsson. The transactions will mean that Cherry will obtain
100 percent ownership of the British company.
A number of convertible
loans and options are included in the agreement, in which Cherry has invested
a total of Euro 3.45 million to obtain control of Betsson. Euro 3.1 million has
already been paid through a combination of share purchases and convertible debenture
loans. The remaining Euro 0.35 million, will be paid in cash. Through the redeemed
options Cherry will also acquire the remaining 29 percent of Betsson at market
value, to be determined by a valuation from two independent external parties.
Cherry will be reorganising its Internet gaming operations as a consequence
of the new acquisition. Shareholdings in companies that run Internet gaming operations
are to be held in a new area of operations called Cherry Online. The Net Entertainment
subsidiary, which is purely a development company, will be accounted for separately.
Links to Cherry Online Casinos:
Online-Casinos.com Review Cherry Casino
Online-Casinos.com Review Speedbet Casino
Online-Casinos.com Review Casino Domain
Champion site
Poker fans have a
new information resource this week following the launch of PokerTrails.com,
a poker news website edited by World Champion poker player Brett Jungblut. The
well presented site features news, tournament happenings and poker-related articles,
all put together by an ackowledged master in the business with plenty of respected
contacts.
Gentlemen, start your engines
Watch out for a
familiar gambling logo on European racetracks soon. The Austrian public company
BetandWin has announced that it is to partner with the exciting Red Bull Formula
1 racing team. The main focus of betandwin's sponsoring activities will be on
Red Bull Racing's team of drivers, which will be going to the starting line in
its first year with David Coulthard, Christian Klein and Vitantonio Liuzzi. The
drivers' overalls will feature the betandwin logo, and the company will also have
its sponsor logos on Austrian driver Christian Klein's headgear.
