Bullet Business

As a preparation for a possible opening of the US market, Unibet says it has acquired 25.9% of the Nasdaq-listed company Bingo.com through a directed rights issue/private placement of $2.25 million.

Bingo.com has closed a private placement from Unibet Group of 15 million common shares at $0.15 per share.

Unibet Group has posted growth both in terms of gross winnings revenue and active customers in the first quarter.

The company attributed this performance to live betting together with live streaming and the possibility to place bets on the Unibet Mobile platform.

888 has embarked on a cost-cutting exercise as the group shared that its second quarter trading has been disappointing in casino, poker and bingo, in part due to historical seasonal trading patterns.

During the first 25 days of the quarter, daily average revenue was approximately 13% below the Q1 average.

Online gaming company PartyGaming has signed an exclusive multi-year agreement to provide a white label online poker service for Aviation Club de France (ACF), an established card rooms and private members club. ACF has 100,000 members.

Dragonfish, the independent B2B division of 888 Holdings, has launched a new standalone bingo network, Bingo Hollywood.

The new brand combines Hollywood glamour, celebrity gossip and bingo entertainment.

Dragonfish highlighted that the online bingo market in the UK is continuing to grow, and there remain opportunities for brands to obtain significant market share.

Interactive gaming company NetPlayTV recently entered into a six-month teleshopping airtime trial agreement with ITV Broadcasting Limited to broadcast fully interactive transactional TV gaming formats on ITV1, starting this month.

PartyGaming’s first quarter revenue rose 27% to $127.1 million, up from $100.1 million posted for the same period in 2009. The performance was marked by strong increases in all product verticals except poker which fell due to competition from US-facing sites.

Betfair has announced the availability of its betting exchange iPhone App within the App Store. The company says it is now the first established betting company to release a sports betting App on the platform.

Referring to the remote gambling law which creates a licensing system for private operators in France, the Remote Gambling Association (RGA) says the bill “does little to truly facilitate a competitive and thriving market for such services”.

The Association stated that the draft law must be amended to adhere to EU rules.