Online Casino and Gambling News: October 2010

Betfair IPO oversubscribed on first day

Betfair proved its naysayers wrong this week, with its proposed IPO of ten percent of its shares over-subscribed in the first 24 hours Friday. British business media quote sources close to the IPO as saying that just a day after the launch of the prospectus, investors had placed orders for all of the shares being made available, and at the prices Betfair asked, valuing the company at some £1.48 billion.

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Mixed feelings on proposed Dutch legalisation of online gambling

Wednesday's De Telegraaf newspaper speculation that the incoming coalition government in Holland could be about to legalise online gambling has been followed by widespread reaction in the European country. Radio Netherlands reports that, regardless of its presently illegal status, some 500,000 Dutch residents regularly gamble online, mainly with offshore operators.

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U.S. politician's wife indicted in online sportsbetting sting

Patrice Tierney, the wife of seven-term Massachusetts Democrat Representative John Tierney, has been indicted on charges of aiding and abetting her brother Bobby Eremian's online gambling activities.

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Rank Interactive revenue growth outperforms parent company

Interim results released this week by the UK online and land gambling group Rank plc show that the group's interactive division has generated revenues double those of the parent group.

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Thunderstruck and Lord of the Rings are now bingo side games

Online bingo fans playing on Microgaming-licensed bingo sites will have two of the software developer's most popular slots at their disposal this week following the company's release of three new side games for its bingo operators' sites.

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Betfair IPO prospectus values company at £1.5 billion

Confirmation of rumours that have been circulating for months came this week with the release of a prospectus on Betfair's flotation of 10% of its stock on the London exchange.

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E-cash processor ePassporte announces closure

After seven years of operations, the e-cash processor ePassporte is closing shop "due to a lack of revenue and circumstances beyond our control." A company statement advises that, effective immediately, the call centre, ePassporte's sales and marketing team and risk management staff will no longer be available.

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Harrah's launches Caesar's Casino Online - UK residents only

Harrah's Interactive Entertainment, Inc. (HIE), a subsidiary of Harrah's Entertainment, Inc., has launched its much-anticipated online casino branded Caesars Casino Online exclusively available to UK residents. The new site will offer a Las Vegas casino experience with a full complement of casino games including slots, roulette, blackjack and baccarat powered by software from Gamesys.

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Sportingbet revenues up 27%, net profit down 69%

The UK internet gambling group Sportingbet released its annual financial numbers this week for the year ended July 31, reporting a 27% increase in revenues, but a slide in net profit of 69%. Nevertheless, the report boosted share prices by over 3%.

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Microgaming releases four new slot machines for October

The Isle of Man-based internet gambling software provider Microgaming has launched its October tranche of new games, comprising four feature-rich video slots involving dolphins, monsters, tigers and German beer!

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