EGR Morning Snapshot: 888; PartyGaming; Playtech; Bwin; Paddy Power; Sportsbet; 32Red...  01/07/2009

Bwin, PartyGaming, Playtech and 888 will benefit most if the US legalises online gambling, Goldman Sachs forecast yesterday, while Bwin and Playtech will rise most in value. As reported on EGRmagazine.com on Monday, Goldman Sachs predicts that the US will legalise egaming, creating an online poker and casino market worth up to $12bn.

Paddy Power has completed its acquisition of a 51% stake in Australian online bookmaker Sportsbet. Under the terms of the transaction, the Irish bookmaker today issued 100,000 ordinary shares priced at €0.10 to Sportsbet shareholders. As reported on EGRmagazine.com this week, Paddy Power could pay as much as €140m for the rest of Sportsbet.

32Red has launch of an online rummy platform, 32Red Rummy, offering a range of rummy games. In other news, 32Red began accepting PayPal payments yesterday.

Spread betting firm WorldSpreads announced a 39% year-on-year revenues growth to €14.9m in 2008, up from €10.7m the previous year. Average financial bets per day jumped 92% to 5,750, from 3,000 in 2008. World Spreads sold its sports spread betting business in April to the head of that division, Fergus Rice, in order to concentrate on financial betting.

The European Commission has extended the standstill period to prevent Belgium implementing new gaming laws which the EC says do not comply with EC free market principles. The standstill, originally due to end on 29 June, has been extended until 30 July, and concerns parts of the new Belgian legislation such as a requirement for egaming operators to be established within Belgium.

Software provider MicroGaming has announced a new ‘Grand Slam of Slots’ tournament, in which players from participating Microgaming casinos will compete to secure a grand prize of €1m. The company has launched four new games: leisure-themed Summer Holiday, cycling themed Pedal Power, abstract silver-coloured Sterling Silver and treasure hunt themed Fortune Finder. 

Web casino Smart Live has launched online baccarat. Smart Live plays the "Punto Banco" variant of the game.

Betfair is to extend its Cash 4 Clubs grants scheme to community sports clubs for a second year. The scheme, which last year paid £30,000 to various sportsclubs, is supported by charity SportsAid. 

Bet365 has chosen supplier Push Technology’s Diffusion 2.0 product to support its new fixed odds, financial betting offering. Bet365 is using it to stream real-time odds over the internet for Bet365’s new financial fixed odds Pushonline betting product.

Don't miss out on egaming news: sign up for our free, daily Snapshot email. Or get the news as its breaks with the free eGaming Review RSS feed.

Posted: 01/07/2009