Today’s need-to-know news – Friday, January 9

Today’s need-to-know news – Friday, January 9

Friday, January 9, 2015

Finnish online gaming operator Paf is to expand into the Italian market after reaching a deal to acquire online gaming company Winga from mobile content provider Buongiorno. The Winga.it website offers online casino, poker and bingo products while the Milan-based company also operates the Winga TV channel. Paf chief executive Anders Ingves said that the company remains committed to a “continued internationalisation and expansion” strategy. “As a first step, we will expand Winga’s product range to include additional casino games and betting in the next few years,” he added...

Asset manager BlackRock has sold $500m of first-lien bonds to investors that support the restructuring of Caesars Entertainment Operating Company, according to Bloomberg. The casino operator is trying to rally support for the debt restructuring plan, with about a week remaining before the operating company is expected to file for bankruptcy protection...

Chinese lottery solutions provider AGTech Holdings finalised a deal to acquire smartphone lottery software developer Score Value Ltd for HK$489.5m (€53.6m/$63.1m). The takeover was first announced in November...

The General Court of the European Union has upheld an earlier rejection by the European Commission of a complaint by casino operators in Greece against the government’s decision to award monopoly OPAP exclusive rights to operate 35,000 video lottery terminals (VLTs) and 13 games of chance. The complainants alleged that the award of the deal in 2011 constituted state aid and said that more than one licence to operate the VLTs should have been put on the market...

GamCrowd has launching its new ‘Incubator’ service, which will offer provisions and resources to prepare and assist start-ups for the process of crowd-funding through the company in return for equity in the businesses...

Betting operator France Pari reported a 46-per-cent increase in turnover in 2014 to €17.9m ($21.1m), partly thanks to revenues doubling to €1m for its B2B division, Sportnco...

Jonas Mattsson has been named as the new chief financial officer of online lottery company ZEAL Network, which rebranded recently from Tipp24. Mattsson succeeds Andreas Kneil, who left the company last September.

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