Playtech is delighted with its $105 million acquisition of CDF trading business AvaTrade.
Online gambling software giant Playtech has announced that it will acquire the currency-trading platform AvaTrade for $105 million.
The move is the most recent in a string of online trading business acquisitions by Playtech as it seeks to diversify its offering beyond its casino, activities betting and poker operations, at a time if the online gambling industry is coming under stricter regulatory and burden that is fiscal.
In Playtech bought Plus500 for £460 million ($718 million) february.
Plus500, like AvaTrade, in a ‘contract-for-difference’ (CFD) broker that allows customers to speculate on areas and trade on movements of the market price without owning those assets.
In April this year, Playtech acquired TradeFX, a trading platform and payment solutions provider, for €208 million ($230 million).
Two Million Trades each Month
Founded in 2006, AvaTrade has 20,000 registered customers who execute a lot more than two million trades per month. The company’s total trading volumes surpass $60 billion per according to its website month.
‘The Ava Group is just a well-recognized and established online CFD broker with multiple regulatory licenses and a strong client base with insignificant geographical overlap with all the TradeFX Group,’ said Mor Weizer, CEO of Playtech. ‘We are very excited about the opportunities for the Group arising from the mixture 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 important milestone in Playtech’s strategy to expand and enhance its general technology offering through numerous vertical areas,’ he added. ‘Since the current acquisition that is earnings-enhancing of plus the creation of our financials division we have wanted further possibilities to broaden our reach into this vertical.’
Meanwhile, Optimal Payments has announced that it expects to complete its acquisition of rival online 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 new ordinary shares.
‘Completion of the acquisition of Skrill stays at the mercy of regulatory approval by the united kingdom’s Financial Conduct Authority, which is anticipated to be made no later than 30 July 2015, unless the FCA workouts its statutory right to interrupt the consideration period,’ Optimal said within an official statement. ‘Completion of the acquisition will shortly take place after the receipt of FCA approval.’
Optimal said the deal will be ‘transformational and value boosting’ for the business, helping it to become the ‘leading payment and wallet that is digital with significant international scale and reach.’
Jackpot Digital Buys PokerTek
Finally, capping off a week that is busy the industry’s M&A lawyers, pc software indian dreaming slot gratis provider Jackpot Digital has announced a deal that will notice it get all the assets of PokerTek from Multimedia for $5.4 million.
PokerTek, which builds electronic table games, has produced approximately $3.5 million within the last year, and Jackpot Digital said the integration of its existing platform aided by the acquired assets would ultimately enhance user-experience and increase revenue for the company.
New Jersey On Line DDoS Attacks on Regulated Sites Arrive with Bitcoin Ransom Notes
Current New Jersey DDoS attacks on unnamed regulated sites had been combined with a ransom note promising future, more severe attacks should businesses not comply. (Image: rodin.com.au)
DDoS (distributed denial of service) isn’t a reality that any gaming that is online ever wishes to cope with, however some regulated New Jersey web sites had to do just that last week.
New Jersey’s fledgling online gambling industry is targeted, evidently for the first-time, 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 an undisclosed sum, payable in Bitcoin, with a threat of the much more serious attack to follow.
Not Brand New, But Frustrating
DDoS attacks aren’t anything brand new for the online gambling industry, of course. In fact, they are because old as the industry itself, but there are suggestions that incidents of the unwelcome actions have been growing. Some professionals also claim that assaults across all online industries really doubled in 2014.
High-profile operators on the receiving end this past year included Betfair, which was targeted on Grand National day, the biggest UK horse race meet of the season in terms of betting.
Attackers usually time their efforts to coincide with large sporting events in the hope that operators will just spend up rather than lose company. PokerStars, Unibet, and state that is swedish monopoly Svenska Spel may also be all current victims.
Opportunities of Prosecution Slim
Inspite of the interruption that is initial 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 one of mouse and cat, of strategy and counterstrategy: as safety technology improves, therefore do the hackers’ efforts to breach it.
Nj-new jersey Division of Gaming Enforcement President David Rebuck stated this that the matter was now being investigated by state police, the FBI, and the New Jersey Office of Homeland Security and Preparedness, as well as his own organization week. The various agencies, he said, were hunting a ‘known actor’ whom had ‘done this before.’
Chances of prosecution are slim, nevertheless. To date, only two males have been convicted for launching DDoS attacks. Those were two UK-based Poles whom made the mistake of threatening an operator they knew really and agreeing to meet him in a hotel room. The operator, of course, brought the authorities with him. In 2013, the pair that is hapless sentenced to 5 years in jail by way of a court in the UK.
Such assaults are perhaps not limited to online gambling, of course. In February 2014, Las Vegas Sands Corporation (LVS), owned by anti-online curmudgeon Sheldon Adelson, had been put through a massive cyber assault that had been believed to have emanated from Iran. On February 10, LVS had been plunged into chaos as computers started flatlining and servers shutting down. Difficult drives were wiped clean as spyware ripped through the company’s networks.
The decision was taken to sever the multibillion dollar operation completely from the Internet as hackers began compressing and downloading batches of sensitive files, comprising everything from high-roller credit checks to details of global computer systems.
The attack caused an estimated $20 million worth of damage. The attackers subsequently claimed their DDoS actions was been inspired 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 single bidder for the 4th NY casino license, proposes an improved expansion package having did not impress final December. (Image: weny.com)
Regulators in ny State have slim pickings when they come to select the champion of the fourth Upstate casino license in the economically deprived Southern Tier region.
Only one contender presented a proposal for Monday’s deadline, while a rival pulled down at the eleventh hour.
The Tioga Downs racino in Nichols is the one and only applicant for the certain area, with a $195 million expansion proposal to its current facility.
The proposal that is aborted from businessman Jeffrey C. Hyman, was pulled having been dealt ‘a fatal blow’ by the state’s Department of Environmental Conservation.
Hyman said his project would have been ‘seismic,’ which may have been what the environmental people were complaining about in the place that is first particularly considering there is an ongoing debate about fracking in the area.
Unfortunately, Jeff Gural, owner of Tioga Downs, did not impress the Gaming Control Board at the initial certification hearing together with his project in December 2014, although he’s got since come up having an improved package.
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 entirely, despite having been granted the capabilities to recommend a 4th license.
Gural had been furious during the decision and extremely critical of the board. He argued that a casino in the Southern Tier will be perfectly logical, 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 associated with the Southern Tier?’
‘And what really pisses me off,’ he continued, warming to his theme, ‘is the governor asked me to spend $800,000 of my cash to pass law that is local, Proposition One [on the expansion of casino gaming]. What was that all about? We mean… the entire thing is sickening in all honesty with you.’
Such had been the outcry among locals, in fact, that Governor Andrew Cuomo intervened, requesting that the Gaming Commission reconsider.
‘As this would function as the license that is last in New York State, it may excite national competition by interested events that submit better yet applications than the first round,’ suggested Cuomo. ‘If you agree to this request, the [casino board] should quickly establish an activity for the fourth license that could be complete as expeditiously as you can, as the Southern Tier needs jobs and investment now.’
The board complied, a decision it might now regret, itself facing a ‘bidding war’ of one and under political pressure to award a license to a man who has recently been highly critical of its decision making processes as it finds.