Playtech is delighted with its $105 million acquisition of CDF trading business AvaTrade.
Online gambling software giant Playtech has announced that it’s going to acquire the currency-trading platform AvaTrade for $105 million.
The move is the newest in a string of online trading business acquisitions by Playtech as it seeks to diversify its offering beyond its casino, recreations betting and poker operations, at a time when the online gambling industry is coming under stricter regulatory and financial burden.
In February, Playtech bought Plus500 for £460 million ($718 million).
Plus500, like AvaTrade, in a ‘contract-for-difference’ (CFD) broker that allows customers to speculate on markets and trade on movements of the selling price without owning those assets.
In April this year, Playtech acquired TradeFX, a trading platform and payment services provider, for €208 million ($230 million).
Two Million Trades each Month
Founded in 2006, AvaTrade has 20,000 registered customers who execute significantly more than two million trades per month. The company’s total trading volumes surpass $60 billion per thirty days, according to its website.
‘The Ava Group is really a well-recognized and established online CFD broker with multiple regulatory licenses and a customer that is strong with insignificant geographic overlap using the TradeFX Group,’ said Mor Weizer, CEO of Playtech. ‘We are very excited concerning the opportunities for the Group arising from the combination of the Trade FX Group and the Ava Group which we are confident will deliver long term value for Shareholders.’
‘The acquisition of the Ava Group is another milestone that is important Playtech’s technique to expand and enhance its general technology offering through numerous vertical areas,’ he added. ‘Since the recent earnings-enhancing acquisition of TradeFX and the creation of our financials unit we have sought further opportunities to broaden our reach into this straight.’
Optimal Strategy
Meanwhile, Optimal Payments has announced that it expects to complete its acquisition of rival on line payment provider Skrill by the end of the month.
The business will acquire Skrill in a reverse takeover deal for €720 million ($799.7 million) and 37,493,053 brand new shares that are ordinary.
‘Completion of the acquisition of Skrill continues to be subject to regulatory approval by the united kingdom’s Financial Conduct Authority, which is expected to be made no later than 30 July 2015, unless the FCA workouts its statutory straight to interrupt the consideration period,’ Optimal said in a statement that is official. ‘Completion of the acquisition will happen briefly after the receipt of FCA approval.’
Optimal said the deal will be ‘transformational and value enhancing’ for the company, helping it to become the ‘leading payment and electronic wallet provider with significant international scale and reach.’
Jackpot Digital Buys PokerTek
Finally, capping off a busy week for the industry’s M&A lawyers, computer software provider Jackpot Digital has announced a deal that may notice it obtain all the assets of PokerTek from Multimedia for $5.4 million.
PokerTek, which builds electronic dining table games, has produced approximately $3.5 million in the last year, and Jackpot Digital said the integration of its existing platform using the acquired assets would ultimately improve user-experience while increasing revenue for the company.
New Jersey On The Web DDoS Attacks on Regulated Sites Arrive with Bitcoin Ransom Notes
Current New Jersey DDoS attacks on unnamed regulated sites had been accompanied by a ransom note future that is promising more severe attacks should companies not comply. (Image: rodin.com.au)
DDoS (distributed denial of solution) isn’t a real possibility that any gaming that is online ever wishes to cope with, many regulated New Jersey sites had to do just that last week.
New Jersey’s fledgling online gambling industry was targeted, evidently for the time that is first by these distributed attacks.
Late last week, at least four unnamed sites were derailed by a hacker, or hackers, who flooded the sites’ bandwidths with traffic, rendering them inoperable, and ultimately taking them offline for around half an hour.
The attacks were accompanied by a ransom note for a sum that is undisclosed payable in Bitcoin, with a hazard of the more serious assault to follow.
Not Brand New, But Frustrating
DDoS attacks aren’t anything new for the gambling that is online, of course. In fact, they truly are because old as the industry itself, but there are suggestions that incidents of the unwelcome actions have been growing. Some experts even claim that assaults across all industries that are online doubled in 2014.
High-profile operators on the receiving end last year included Betfair, which was targeted on Grand National time, the UK horse race that is biggest meet of the year in terms of betting.
Attackers usually time their efforts to coincide with big events that are sporting the hope that operators will merely spend up instead than lose business. PokerStars, Unibet, and state that is swedish monopoly Svenska Spel are all current victims.
Possibilities of Prosecution Slim
Despite the initial interruption, it appears that the situation happens to be stable and has been effectively dealt with by the New Jersey market’s cybersecurity groups. The battle between online gambling sites and the hackers is certainly one of cat and mouse, of strategy and counterstrategy: as safety technology improves, so do the hackers’ efforts to breach it.
Nj Division of Gaming Enforcement President David Rebuck stated this week that the matter was now being investigated by state police, the FBI, and this new Jersey Office of Homeland Security and Preparedness, too as his own company. The various agencies, he stated, were hunting a ‘known actor’ whom had ‘done this before.’
Chances indian dreaming slot machine free play of prosecution are slim, nevertheless. To date, only two guys have been convicted for launching DDoS attacks. Those had been two UK-based Poles whom made the mistake of threatening an operator they knew individually and agreeing to generally meet him in a hotel room. The operator, of program, brought the police with him. In 2013, the hapless pair were sentenced to 5 years in jail by a court in britain.
LVS Attack
Such assaults are maybe not limited to online gambling, of program. In February 2014, Las Vegas Sands Corporation (LVS), owned by anti-online curmudgeon Sheldon Adelson, was afflicted by a massive cyber assault that ended up being thought to have emanated from Iran. On 10, LVS was plunged into chaos as computers began flatlining and servers shutting down february. Hard drives were wiped clean as spyware ripped through the company’s networks.
As hackers began compressing and downloading batches of sensitive files, comprising sets from high-roller credit checks to information on global pcs, the choice was taken to sever the multibillion dollar operation entirely from the Internet.
The attack caused an estimated $20 million worth of damage. The attackers subsequently claimed their DDoS actions was indeed been motivated after hearing remarks made by Adelson in 2013 about ‘dropping the bomb’ on Iran.
NY Casino License Bidding Process Receives One Applicant
Tiago Downs, the bidder that is sole the 4th NY casino license, proposes an improved expansion package having neglected to impress final December. (Image: weny.com)
Regulators in ny State have actually slim pickings whenever they come to select the champion of the 4th Upstate casino license in the economically deprived Southern Tier region.
Just one single contender presented a proposition for Monday’s deadline, while a rival pulled down at the minute that is last.
The Tioga Downs racino in Nichols is the main one and only applicant for the area, with a $195 million expansion proposal to its current facility.
The aborted proposal, from businessman Jeffrey C. Hyman, had been pulled having been dealt ‘a fatal blow’ by hawaii’s Department of Environmental Conservation.
Hyman said his project would have been ‘seismic,’ which may have been what the environmental people had been complaining about in the place that is first particularly considering there is an ongoing debate about fracking in the area.
Snubbed
Unfortunately, Jeff Gural, owner of Tioga Downs, failed to impress the Gaming Control Board at the original certification hearing together with project in December 2014, although he’s since come up by having an package that is improved.
Back then, the board recommended three casino licenses, for Monticello, in the Catskills; Schenectady; and the Finger Lakes area, snubbing the Southern Tier and Tioga Downs completely, despite having been granted the powers to recommend a license that is fourth.
Gural was furious at the decision and highly critical of this board. He argued that a casino in the Southern Tier will be perfectly rational, since the closest competitor is Mohegan Sun at Pocono Downs, 90 kilometers south in Wilkes-Barre, Pennsylvania
‘It’s got nothing to do I have enough money,’ he fumed with me. ‘ But the individuals regarding the Southern Tier?’
‘And what really pisses me down,’ he continued, warming to his theme, ‘is the governor asked me to spend $800,000 of my money to pass Local Law 1, Proposition One [on the expansion of casino gaming]. What was that all about? I mean… the thing that is whole sickening to tell the truth with you.’
Outcry
Such had been the outcry among locals, in reality, that Governor Andrew Cuomo intervened, requesting that the Gaming Commission reconsider.
‘As this would end up being the last license given in New York State, it may excite national competition by interested parties that distribute better yet applications than the initial round,’ suggested Cuomo. ‘If you agree for this request, the [casino board] should quickly establish a process for the 4th license that could be complete as expeditiously as possible, due to the fact Southern Tier needs jobs and investment now.’
The board complied, a choice it might now regret, because it discovers itself facing a ‘bidding war’ of one and under political pressure to award a license to a guy who has been highly critical of its decision making processes.