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 platform that is currency-trading 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 as soon as the on the web gambling industry is coming under stricter regulatory and financial burden.
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 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 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 just a well-recognized and established online CFD broker with multiple regulatory licenses and a strong customer base with insignificant geographical overlap using the TradeFX Group,’ said Mor Weizer, CEO of Playtech. ‘We are very excited in regards to the opportunities for the Group arising from the mixture of the Trade FX Group and the Ava Group which we are confident will deliver term that is long for Shareholders.’
‘The acquisition of the Ava Group is another milestone that is important Playtech’s strategy to expand and enhance its general technology offering through numerous vertical areas,’ he added. ‘Since the recent acquisition that is earnings-enhancing of and the creation of our financials unit we have sought 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 company 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 anticipated to be made no later than 30 July 2015, unless the FCA exercises its statutory straight to interrupt the consideration period,’ Optimal said in a statement that is official. ‘Completion of the acquisition will occur briefly after the receipt of FCA approval.’
Optimal stated the deal will be ‘transformational and value improving’ for the organization, 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 week that is busy the industry’s M&A lawyers, pc software provider Jackpot Digital has announced a deal that will see it get all the assets of PokerTek from Multimedia for $5.4 million.
PokerTek, which builds electronic table games, has generated approximately $3.5 million over the past 12 months, and Jackpot Digital said the integration of its existing platform with all the acquired assets would ultimately enhance user-experience and increase revenue for the company.
New Jersey Online DDoS Attacks on Regulated Web Sites Arrive with Bitcoin Ransom Notes
Recent nj-new Jersey DDoS attacks on unnamed regulated sites were combined with a ransom note future that is promising more serious attacks should companies not comply. (Image: rodin.com.au)
DDoS (distributed denial of service) isn’t a reality that any online gaming business ever desires to deal with, but some regulated New Jersey web sites had to do just that last week.
New Jersey’s fledgling online gambling industry was targeted, apparently 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 danger of the much more serious attack to follow.
Not Brand New, But Frustrating
DDoS attacks are nothing new for the online gambling industry, of course. In fact, they’re because old as the industry itself, but there are suggestions that incidents of the unwelcome actions have been growing. Some professionals even claim that assaults across all industries that are online doubled in 2014.
High-profile operators on the receiving end a year ago included Betfair, which was targeted on Grand National day, 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 pay up rather than lose business. PokerStars, Unibet, and state that is swedish monopoly Svenska Spel are all recent victims.
Possibilities of Prosecution Slim
Inspite of the initial interruption, it appears that the situation is now stable and has been effectively dealt with by the newest Jersey market’s cybersecurity teams. The battle between online gambling sites and the hackers is one of pet and mouse, of strategy and counterstrategy: as protection technology improves, so do the hackers’ efforts to breach it.
New Jersey 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’ who had ‘done this before.’
Chances of prosecution are slim, but. To date, only two men have been convicted for launching DDoS attacks. Those were two UK-based Poles whom made the error of threatening an operator they knew individually and agreeing to meet up with 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 way of a court in the united kingdom.
Such assaults are perhaps 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 possess emanated from Iran. On February 10, LVS ended up being plunged into chaos as computers began 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 indeed been encouraged 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 failed to impress last December. (Image: weny.com)
Regulators in New York State have actually slim pickings when they come to pick the champion of the 4th Upstate casino license in the economically deprived Southern Tier region.
Only one contender submitted a proposition for Monday’s deadline, while a rival pulled out at the minute that is last.
The Tioga Downs racino in Nichols is usually the one and only applicant for the certain area, by having 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 their state’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 first place, specially when you consider it has an ongoing debate about fracking in the area.
Unfortunately, Jeff Gural, owner of Tioga Downs, didn’t impress the Gaming Control Board at the initial certification hearing along with his project in December 2014, although he has since come up 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 totally, despite having been granted the powers to recommend a fourth permit.
Gural ended up being furious at the decision and highly critical associated with the board. He argued that a casino in the Southern Tier would be perfectly logical, as 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 for 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? I mean… the entire thing is sickening to tell the truth with you.’
Such was the outcry among locals, in reality, that Governor Andrew Cuomo intervened, requesting that the Gaming Commission reconsider.
‘As this would function as last permit issued in New York State, it may excite national competition by interested parties that submit better yet applications than the very first round,’ suggested Cuomo. ‘If you agree for this request, the [casino board] should quickly establish a process for the fourth license that could be complete as expeditiously as possible, because the Southern Tier needs jobs and investment now.’
The board complied, a choice 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.