Nambling Notes | July 1, 2008

APPELLATION ACTION Fluxx A.G., a betting and lotteries operator in Germany, has officially changed its trading name to Jaxx A.G.

In a prepared statement Tuesday, the company said it is looking to strengthen ties to its Jaxx line of products and services.

Jaxx UK Ltd., the company's United Kingdom subsidiary, partnered in November 2007 with America Online's United Kingdom subsidiary to launch an online sports betting service.

In related news, the Financial Times last week carried market rumors that Gibraltar's 888 Holdings could initiate a bid for Jaxx.

Stefan Haenel, chief financial officer of Jaxx, told Interactive Gaming News in an e-mail last week:

"There is no additional information except this short article so that there is no room for any comment."

GOING MOBILE Mobenga has agreed to supply its mobile betting services to Unibet, the Sweden-based online gambling operator.

The deal, announced Tuesday, sees Unibet launch its full-odds and live-betting offerings on Mobenga's mobile platform.

"We are thrilled to add another one of the tier one companies in this sector to our portfolio and look forward to working with Unibet," Christian Rajter, Mobenga's managing director, said in a prepared statement.

Mobenga, with offices in Stockholm and Vienna, supplies its mobile platform to seven other clients, including Bwin Interactive Entertainment, Expekt.com Co. Ltd. and NordicBet.com.

NICHE KNACKS BingoPort.co.uk, a portal and research site covering the United Kingdom online bingo industry, has revealed players are spending approximately $1.2 billion annually on bingo tickets.

Sun Bingo, the online bingo room of its namesake tabloid, The Sun, holds the largest market share in the United Kingdom, 19 percent, followed closely by Gala Bingo, 16 percent, Foxy Bingo, 13 percent, Jackpot Joy, 10 percent, and Mecca Bingo, 7 percent.

"It's significant that there is no stand-out leader when it comes to market share," said Scott Logan, managing director of BingoPort, in a prepared statement. "While Sun Bingo maintains the overall lead, we see market share change on a daily basis based on specific promotions run by each operator."

Mr. Logan said that the number and variety of promotions run in the 2008 calendar year has increased dramatically versus 2007.

"There is no doubt that the leaders, such as Sun Bingo and Gala Bingo, have gained much of their market share on the back of their strong brand names," he said. "However, it is their ongoing jackpots and promotions that keep players coming back and help them maintain their positions."

CALGARY CLOSURE Neteller has yet to close on the sale of its Calgary property, pushed back to June 30 in early May, and now to July 11, the company said in a stock exchange statement Monday.

"Due to a number of factors, including public holidays in Canada and unforeseen delays within the land registry agency in Calgary, the Group now expects that all requisite formalities will be completed and closing will occur on or before 11 July 2008," the company said.

The Calgary property was the company's United States-facing base before it settled with the Department of Justice, in July 2007, on charges of conspiracy to conduct illegal Internet gambling.

Neteller, a British online money-transfer company, agreed to sell the Calgary property to Leben Investment Corporation for $33.5 million Canadian dollars. The deal was revised on May 1, 2008.

"The adjusted terms are stated to be beneficial to Neteller as the delayed lease payments more than offset interest gained on the sale proceeds," James Hollins, an analyst with Daniel Stewart & Co. in London, wrote in a research note in May. "With a marginal benefit to our forecasts, we retain our Buy recommendation and 100p price target."

Neteller, with a market capitalization of $136 million, was down 1 pence, or 1.72 percent, to 57 pence on the London Stock Exchange.