Playtech Acquires AvaTrade, Optimal Closes In On Skrill Deal

Playtec<span id="more-61404"></span>h Acquires AvaTrade, Optimal Closes In On Skrill Deal

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 latest in a string of online trading business acquisitions by Playtech as it seeks to diversify its offering beyond its casino, sports betting and poker operations, at a time as soon as the online gambling industry is coming under stricter regulatory and financial burden.

In February, Playtech bought Plus500 for £460 million ($718 million).

Plus500, like AvaTrade, in a ‘contract-for-difference’ (CFD) broker that allows customers to speculate on markets and trade on motions of a selling 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 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 really a well-recognized and established online CFD broker with multiple regulatory licenses and a strong client base with insignificant geographic 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 combination 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 recent earnings-enhancing acquisition of TradeFX while the creation of our financials unit we have wanted further opportunities to broaden our reach into this vertical.’

Optimal Strategy

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 shares that are ordinary.

‘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 workouts its statutory straight to interrupt the consideration period,’ Optimal said within an statement that is official. ‘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 organization, 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 busy week for the industry’s M&A lawyers, computer software provider Jackpot Digital has announced a deal that may notice it get all the assets of PokerTek from Multimedia for $5.4 million.

PokerTek, which builds table that is electronic, has produced approximately $3.5 million within the last 12 months, and Jackpot Digital said the integration of its existing platform using the acquired assets would ultimately enhance user-experience while increasing revenue for the company.

New Jersey Online DDoS Attacks on Regulated Web Sites Arrive with Bitcoin Ransom Notes

Present New Jersey DDoS attacks on unnamed regulated sites had been combined with a ransom note guaranteeing future, more severe attacks should organizations not comply. (Image: rodin.com.au)

DDoS (distributed denial of solution) isn’t a real possibility that any online gaming business ever wants 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, apparently for the very first time, by these distributed attacks.

Late last week, at least four unnamed sites had been 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 more serious assault to follow.

Not New, But Frustrating

DDoS attacks aren’t anything brand new for the online gambling industry, of course. In fact, they’re since old as the industry itself, but there are suggestions that incidents of the unwelcome actions have been growing. Some professionals even claim that attacks across all online industries really doubled in 2014.

High-profile operators on the getting end last year included Betfair, which was targeted on Grand National time, the biggest UK horse race meet of the year in terms of betting.

Attackers usually time their efforts to coincide with big sporting events in the hope that operators will merely pay up instead than lose business. PokerStars, Unibet, and Swedish state gambling monopoly Svenska Spel will also be all recent victims.

Chances of Prosecution Slim

Despite the interruption that is initial it appears that the situation is now stable and has been effectively dealt with by the New Jersey market’s cybersecurity teams. The battle between online gambling sites and the hackers is one of mouse and cat, of strategy and counterstrategy: as security technology improves, so do the hackers’ efforts to breach it.

Nj Division of Gaming Enforcement President David Rebuck said this week that the matter was now being investigated by state police, the FBI, and this new Jersey Office of Homeland Security and Preparedness, also as their own organization. The various agencies, he said, were hunting a ‘known actor’ whom had ‘done this before.’

Chances of prosecution are slim, but. To date, only two guys 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 generally meet him in a hotel room. The operator, of course, brought the authorities with him. In 2013, the hapless pair were sentenced to 5 years in jail with a court in britain.

LVS Attack

Such attacks are maybe not limited to online gambling, of program. In February 2014, Las Vegas Sands Corporation (LVS), owned by anti-online curmudgeon Sheldon Adelson, ended up being afflicted by a massive cyber assault that had been thought to have emanated from Iran. On 10, LVS was plunged into chaos as computers began flatlining and servers shutting down february. Difficult drives were wiped clean as malware 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 later claimed their DDoS actions was 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 neglected to impress final December. (Image: weny.com)

Regulators in nyc State have slim pickings whenever they come to pick the champion of the Upstate that is fourth casino in the economically deprived Southern Tier region.

Only one contender submitted a proposal for Monday’s deadline, while a rival pulled down at the minute that is last.

The Tioga Downs racino in Nichols is usually the one and only applicant for the certain area, with a $195 million expansion proposal to its current facility.

The aborted proposition, from businessman Jeffrey C. Hyman, was pulled having been dealt ‘a fatal blow’ by the 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 beginning, specially considering there is an ongoing debate about fracking in the area.

Snubbed

Unfortunately, Jeff Gural, owner of Tioga Downs, didn’t indian dreaming slot gratis impress the Gaming Control Board at the original certification hearing together with his project in December 2014, although he’s got since come up by 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 completely, despite having been granted the powers to recommend a fourth permit.

Gural ended up being furious at the decision and very critical of this board. He argued that a casino in the Southern Tier would be perfectly rational, since the closest competitor is Mohegan Sun at Pocono Downs, 90 miles south in Wilkes-Barre, Pennsylvania

‘It’s got nothing to do with me, i’ve sufficient money,’ he fumed. ‘ But the social individuals for the Southern Tier?’

‘And what actually pisses me down,’ 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 whole thing is sickening to be honest with you.’

Outcry

Such had been the outcry among locals, in reality, that Governor Andrew Cuomo intervened, asking for that the Gaming Commission reconsider.

‘As this would be the license that is last in New York State, it may excite national competition by interested events that distribute even better applications than the initial round,’ suggested Cuomo. ‘If you agree to this request, the [casino board] should quickly establish a process for the fourth license that could be complete as expeditiously possible, due to the fact Southern Tier needs jobs and investment now.’

The board complied, a choice it might probably 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.

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