Nambling Notes - April 3, 2008

Gtech, the U.S.-based subsidiary of Italy's Lottomatica, has agreed to take a 90 percent stake in St. Enodoc Holdings, parent company to St. Minver, the online operator. For the stake, Gtech will pay 28 million euros, or $43.8 million, cash, on closing. The deal is expected to be finalized this quarter. View the full story.

Following rumors Genting Berhad was to launch a $959 million bid for Rank Group, owner of Blue Square, the Malaysia-based investment group said Thursday that no bid is currently in the works. "We wish to inform that Genting Berhad has no intention to make any general offer for the shares of Rank Group contrary to the speculative news reports," the company said in a prepared statement. Shares in Rank, listed on the London Stock Exchange, shed more than 10 percent on the news. Shares were also hit by the resignation of Peter Gill, Rank's finance director, who spent nearly three years with the group. Mr. Gill, who Bloomberg reports oversaw a £1.2 billion, or $2.3 billion, restructuring of the company, will depart in June and be replaced Paddy Gallagher, chief financial officer of Quadriga Worldwide Ltd.

Neteller, the online payments processor, has established a joint venture, Centricom Europe Ltd., with Centricom Pty Ltd., a Melbourne-based e-commerce provider. Under the agreement, Centricom Europe will distribute the POLi service, a secure payments solution, across Continental Europe. POLi will also be launched in the United Kingdom via Netbanx, Neteller's payments processing arm. In August 2007, Neteller took a 25 percent stake in Centricom Pty Ltd.

Betbull, the online and retail bookmaker, has revealed full-yearly net gaming revenues of 13.32 million euros, or $20.9 million, down 11 percent against the year-ago period. Losses after tax narrowed to 1.91 million euros, or $2.97 million, from 2.57 million euros, or $4.02 million, in 2006. Meanwhile, earnings before interest, taxes, depreciation and amortization rose to 300,000 euros, or $470,151, from losses of 910,000 euros, or $1.4 million, in 2006. The company said it is working to strengthen its Primebet software platform by adding casino and other games, and hopes to integrate its entire online services suite under one platform. Shares in Betbull, listed on the Vienna Stock Exchange, were down 0.01 euros, or $0.015, to 3.29 euros, or $5.15.

Webis Holdings, the online operator, has inked a sponsorship agreement with Ascot and Newmarket, two U.K.-based racecourse operators. Webis will sponsor the Hunters' Steeple Chase race on April 11 at Ascot, as well as the Handicap races and two Maiden Stakes races at Newmarket's Rowley Mile racecourse on April 16. The races are to be branded under Betinternet.com, a Webis-owned sports betting portal site. Garry Knowles, managing director, Webis, said in a prepared statement Thursday that he was confident the deal "will heighten awareness of Betinternet.com" across its target audience.

On the London Stock Exchange today, 888 was down 4.50p, or 2.9 percent, to 148.50, PartyGaming was down 1.75p, or 7.8 percent, to 20.75 and London Capital Group was up 5p, or 1.5 percent, to 328.00.