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 if the on the web 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 permits customers to speculate on areas and trade on movements of the selling price without owning those assets.
A trading platform and payment services provider, for €208 million ($230 million) in April this year, Playtech acquired TradeFX.
Two Million Trades per Month
Founded in 2006, AvaTrade has 20,000 registered customers who execute more than two million trades per month. The company’s total trading volumes surpass $60 billion per month, according to its website.
‘The Ava Group is just a well-recognized and established online CFD broker with multiple regulatory licenses and a customer that is strong 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 overall technology offering through numerous vertical areas,’ he added. ‘Since the current earnings-enhancing acquisition of TradeFX plus the creation of our financials unit we have tried further opportunities 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 brand new ordinary stocks.
‘Completion of the acquisition of Skrill continues to be at the mercy of regulatory approval by great britain’s Financial Conduct Authority, which is expected to be made no later than 30 July 2015, unless the FCA exercises its statutory right to interrupt the consideration period,’ Optimal said within an statement that is official. ‘Completion of the acquisition will shortly take place following the receipt of FCA approval.’
Optimal said the deal will be indian dreaming slot big win ‘transformational and value improving’ for the company, helping it to become the ‘leading payment and digital wallet provider with significant international scale and reach.’
Jackpot Digital Buys PokerTek
Finally, capping off a week that is busy the industry’s M&A lawyers, software provider Jackpot Digital has announced a deal which will notice it acquire all the assets of PokerTek from Multimedia for $5.4 million.
PokerTek, which builds table that is electronic, has generated approximately $3.5 million in the last year, and Jackpot Digital said the integration of its existing platform with the acquired assets would ultimately improve user-experience and increase revenue for the company.
New Jersey Online DDoS Attacks on Regulated Sites Arrive with Bitcoin Ransom Notes
Current nj-new Jersey DDoS assaults on unnamed regulated sites were followed closely by a ransom note future that is promising more serious attacks should companies not comply. (Image: rodin.com.au)
DDoS (distributed denial of service) is not a real possibility that any online gaming business ever wants to cope with, many regulated New Jersey web sites had to do exactly that last week.
New Jersey’s fledgling online gambling industry was targeted, evidently for the time that is first by these distributed attacks.
Late week that is last 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 risk of the more serious attack to follow.
Not New, But Frustrating
DDoS attacks aren’t anything new for the gambling that is online, of course. In fact, they are as old as the industry itself, but there are suggestions that incidents of the unwelcome actions have been growing. Some specialists also claim that attacks across all industries that are online doubled in 2014.
High-profile operators on the receiving end this past year included Betfair, which was targeted on Grand National time, the UK horse race that is biggest meet of the season in terms of betting.
Attackers usually time their efforts to coincide with big events that are sporting the hope that operators will just spend up rather than lose business. PokerStars, Unibet, and state that is swedish monopoly Svenska Spel are also all present victims.
Possibilities of Prosecution Slim
Inspite of the initial interruption, it appears that the situation has become stable and has been effectively dealt with by the newest Jersey market’s cybersecurity groups. The battle between online gambling sites and the hackers is certainly one of mouse and cat, of strategy and counterstrategy: as safety technology improves, therefore do the hackers’ efforts to breach it.
Nj Division of Gaming Enforcement President David Rebuck said 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.’
Opportunities of prosecution are slim, however. To date, only two guys have been convicted for launching DDoS attacks. Those had been two UK-based Poles whom made the error of threatening an operator they knew physically and agreeing to meet up him in a hotel room. The operator, of course, brought the authorities with him. In 2013, the pair that is hapless sentenced to five years in prison by way of a court in the united kingdom.
Such assaults are maybe not limited to online gambling, of course. In February 2014, Las Vegas Sands Corporation (LVS), owned by anti-online curmudgeon Sheldon Adelson, was afflicted by a massive cyber attack that was believed to own emanated from Iran. On February 10, LVS ended up being plunged into chaos as computers started flatlining and servers shutting down. Hard drives were wiped clean as spyware ripped through the business’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 afterwards claimed their DDoS actions was in fact 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 sole bidder for the 4th NY casino license, proposes an improved expansion package having didn’t impress final December. (Image: weny.com)
Regulators in nyc State have slim pickings whenever they come to pick the winner of the fourth Upstate casino license in the economically deprived Southern Tier region.
Only one contender submitted a proposal for Monday’s deadline, while a rival pulled down at the last second.
The Tioga Downs racino in Nichols is usually the one and only applicant for the area, by having a $195 million expansion proposal to its current facility.
The aborted proposition, from businessman Jeffrey C. Hyman, had been pulled having been dealt ‘a fatal blow’ by hawaii’s Department of Environmental Conservation.
Hyman said his task would have been ‘seismic,’ which may have been what the environmental people were complaining about in the place that is first especially if you think about there is an ongoing debate about fracking in the area.
Unfortunately, Jeff Gural, owner of Tioga Downs, did not impress the Gaming Control Board during the original certification hearing along with his task in December 2014, although he’s got since come up with 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 entirely, despite having been granted the powers to recommend a fourth permit.
Gural had been furious during the choice and highly critical associated with board. He argued that a casino in the Southern Tier would be perfectly logical, because the closest competitor is Mohegan Sun at Pocono Downs, 90 miles south in Wilkes-Barre, Pennsylvania
‘It’s got nothing to do I have enough money,’ he fumed with me. ‘ But the people associated with the Southern Tier?’
‘And what actually 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? I mean… the thing that is whole 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 last permit released in New York State, it may excite national competition by interested events that submit even better applications than 1st round,’ advised Cuomo. ‘If you agree for this request, the [casino board] should quickly establish an activity for the fourth license that could be complete as expeditiously as you possibly can, as the Southern Tier needs jobs and investment now.’
The board complied, a decision it could now regret, as it discovers itself dealing with a ‘bidding war’ of one and under political pressure to award a permit to a person who has recently been highly critical of its decision making processes.