CHIPS DOWN FOR INTEL


first_img whatsapp CHIPS DOWN FOR INTEL KCS-content INTEL, headed up by chief executive Paul Otellini, cut its first quarter revenue forecast by $300m yesterday due to the costs associated with correcting a design flaw it discovered in one of its chips. Intel said it has stopped shipments of the chip and has implemented a fix. It will begin delivering an updated version of the chip to customers in late February. Total cost to repair and replace the chip is expected to be around $700m, it said. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Show Comments ▼ Share Monday 31 January 2011 7:49 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more


BAA passenger numbers rise


first_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Friday 11 February 2011 3:37 am Share John Dunne whatsapp Airports operator BAA said 3.8 per cent more people used its airports in January compared with the year before.A total of 7.5m people went through BAA airports, with strong growth at Heathrow. BAA saw a rise in passengers at five of its six UK airports, with only Stansted recording a fall last month.BAA said Heathrow, criticised for its performance during the winter weather, had its best January since 2006.Colin Matthews, chief executive, said the figures reflected an “improving economic environment”.Heathrow recorded an increase of 4.6 per cent to 5.05m passengers, although services in January 2010 were disrupted by bad weather.BAA said in a statement that Heathrow had had it strongest long-haul performance in the airport’s history, supported by growth on Chinese and Indian routes.Air cargo, a reflection of international trade, remained strong, BAA said, with an 8.5 per cent overall increase at its airports and a 9.3 per cent rise at Heathrow. BAA passenger numbers rise Show Comments ▼ Tags: NULLlast_img read more


Vodafone in swipe at Apple


first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com whatsapp whatsapp Show Comments ▼ VODAFONE chief executive Vittorio Colao made a veiled attack on Apple yesterday as he called for greater openness in the mobile industry.He said he was concerned about firms creating so-called “walled gardens” around content, stressing “the importance of avoiding dominance in any step in the value chain”.Sources close to Vodafone confirmed the comments were intended to censure Apple, which dominates the mobile phone app industry. The side-swipe came as Apple announced it will cream off 30 per cent of any subscriptions sold through the app store. That means the likes of Rupert Murdoch’s News Corp – which sells iPad subscriptions to the Times through the app store – will have to give almost a third of the virtual “cover price” to Apple. Until now, publishers and other developers could keep 100 per cent of subscription revenue. Colao went on to praise Google for creating another major player in the mobile sphere with its Android operating system, saying it is important to maintain competition.Addressing Vodafone’s ongoing tax woes in India, Colao called the treatment of his firm “erratic” and “not healthy”.He claimed the authorities were making a “misguided” attempt to tax his firm, which he said has invested heavily in the Indian economy. Sharecenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsUndoPensAndPatronPrince Charles Finally Reveals His Thoughts On Marrying Princess DianaPensAndPatronUndoElite HeraldKate Middleton Just Dropped An Unexpected Baby BombshellElite HeraldUndoTheFashionBallAthletes That Are So Beautiful They’re Also ModelsTheFashionBallUndoBrake For It39 1960s Cars, RankedBrake For ItUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoNinjaJournalistSilly Workers Caught In Unbelievable MomentsNinjaJournalistUndoThe Chef PickKelly Lynch Is 62 And This Is How She’s Living After RetirementThe Chef PickUndoAuto InquirerA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserAuto InquirerUndo Vodafone in swipe at Apple Tuesday 15 February 2011 8:17 pm KCS-content Tags: NULLlast_img read more


WHAT THE OTHER PAPERS SAY THIS MORNING


first_img FINANCIAL TIMESBALLS WARNS KING ON BANK CREDIBILITY Ed Balls, shadow chancellor, has criticised Mervyn King, Bank of England governor, saying he should step out of the political arena and stop tying his credibility to the coalition’s “extreme” deficit-reduction plans. In an interview with the Financial Times, Balls drew comparisons between King’s stance and the backing lent by the Bank of England to the Treasury’s fiscal hawks during the Great Depression.BRUSSELS ATTACKS RULES ON TAX AVOIDANCE Revenue & Customs’ main weapon for stopping offshore tax avoidance is under attack from Brussels, which says rules that stop investors moving their wealth abroad impinge on fundamental principles of the single market. The challenge is the latest high-profile dispute over the ability of taxpayers to take advantage of low tax rates in other parts of the European Union. US DOUBTS OVER INDIA JET FIGHTER PARTNER The US government has expressed doubt about the suitability of corporate partnership with an Indian state aerospace company as Boeing and Lockheed Martin bid to supply New Delhi with 126 strike fighters. The US is pitching for what is one of the world’s largest military contracts, worth $11bnSCIENTISTS PROJECT HUMANS INTO AVATARS Swiss scientists have projected volunteers into the body of an avatar or virtual human, taking virtual reality to a new level.Scientists at the Ecole Polytechnique Fédérale de Lausanne (EPFL) even made men feel like women and women like men.THE TIMESCABLE IS FAILING UK BUSINESS, SAY MPSVince Cable’s Business Department has been accused of indulging in empty rhetoric and failing to produce a coherent strategy for growth in a withering assessment of the past nine months. MPs on the Commons Business, Enterprise and Skills committee will say in a report published today that the Department is letting down British companies, particularly in failing to break the bank-lending impasse.HEINEKEN HOLDS LINE ON PRICES AS SALES SLIDEBritain’s biggest brewer suffered a sharp fall in sales volumes last year as it sought to hold the line on pricing with two of the country’s most powerful supermarket chains. Heineken, has been the market leader since its takeover of Scottish & Newcastle in 2008.The Daily TelegraphPRESIDENT BARACK OBAMA TO MAKE STATE VISIT TO BRITAINUS President Barack Obama is to make a state visit to the UK in May after accepting an invitation from the Queen, Buckingham Palace has announced. Mr Obama will be joined by his wife Michelle for the three-day trip, which comes ahead of the G8 summit of world leaders in France which the American politician is expected to attend. WAR ON THOUSANDS OF LOCAL BOROUGH COUNCIL ‘NON-JOBS’Almost three million people are employed by local borough councils after an “explosion” in “crazy non-jobs”, the coalition has claimed. Local authorities have taken on an extra 180,000 workers since 1997, with the total number not employed in traditional front-line roles now standing at almost 750,000.THE WALL STREET JOURNALBANKS FIND LOOPHOLE ON CAPITAL RULE Some foreign banks are moving to restructure their US operations to avoid one of the most-burdensome requirements of the new Dodd-Frank law. In November, Barclays quietly changed the legal classification of the UK bank’s main subsidiary in the US so that the unit would no longer be subject to federal bank-capital requirements. Several other banks based outside the US are considering similar moves.LIBYA PROTEST FATALITIES PRESSURE GADHAFI Local media and human-rights groups monitoring Libya reported at least four protesters killed in recent clashes with security forces and regime supporters, as Colonel Moammar Gadhafi mobilized large pro-government demonstrations. whatsapp WHAT THE OTHER PAPERS SAY THIS MORNING Show Comments ▼ Thursday 17 February 2011 9:05 pm Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKansas coach fired for using N-word toward Black playerthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com KCS-content whatsapp Tags: NULLlast_img read more


Italian bourse shut down after spooked investors sell off stocks


first_img Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Tuesday 22 February 2011 8:31 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Show Comments ▼center_img whatsapp Italian bourse shut down after spooked investors sell off stocks KCS-content THE Italian bourse was brought down yesterday following frenzied sales of stocks by investors spooked by its heavy exposure to Libya.Trading in stocks, bonds, warrants and exchange-traded funds (ETFs) had been suspended from the start of the day until 2.30pm.Borsa Italiana, a unit of the London Stock Exchange, said the cause of the total shutdown was not known but market participants pointed out that it followed a sharp spike in volumes on Monday.Lobby groups have called the closure “suspicious” and called for more information on the technical problems. Italian market regulator Consob demanded an explanation for the embarrassing halt, the longest in at least seven years.Italy has massive exposure to Libya, especially through its mining operations in the country. Tags: NULLlast_img read more


Insurer is still attractive target


first_imgMonday 7 March 2011 8:45 pm Insurer is still attractive target More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com whatsapp KCS-content Show Comments ▼ whatsapp Share CHAUCER’S share price was barely changed after the company reported a smaller-than-expected profit for 2010. For most investors, last year’s results are old news: all anyone cares about is the impending bid. Chaucer again said it had received a “number of takeover approaches” but was tight-lipped otherwise. But how much would a successful suitor have to pay? Despite a lower combined ratio – the key measure of profitability for insurance firms – the same fundamentals that made the insurer so attractive to buyers still remain. Firstly, the diversification of its underwriting exposure is extremely reassuring. In 2011, for example, rate increases of 10 per cent in energy and 14 per cent in UK motoring will offset a reduction of 10 per cent in US?property and a broadly flat picture elsewhere. Second, its presence in Lloyd’s offers a perfect entrance for a private equity or trade buyer. Thirdly, it is strongly capitalised, with economic capital of £435m, including a buffer of £60m.For that reason, any buyer will likely have to pay a premium to its 2011 net tangible asset value, forecast at 54p by analysts at Shore Capital. A premium of around 20 per cent would likely be justifiable, meaning the magic number is around 65p. With the shares trading at 58.5p at yesterday’s close, buyers could still make a tidy profit. Tags: NULLlast_img read more


Pay likely to rise as firms court talent


first_img Tags: NULL FOUR in ten chief financial officers in the finance industry plan to increase bonuses over the next six months, according to a survey by the Institute of Chartered Accountants in England and Wales (ICAEW) and recruiter Robert Half.Forty-three per cent of those planning bonus rises for their staff are looking to increase them by around five to six per cent – just above inflation, while 29 per cent will beat inflation with a seven to ten per cent pay rise.However, just over half of those surveyed said they expected bonuses to stay the same, with zero respondents expecting a decrease. The trend reflects the fact that firms face growing competition for staff from a limited talent pool.Robert Half director Neil Owen says: “Many organisations are finding that they currently do not have the resources to manage emerging initiatives and are therefore engaging senior-level financial professionals on an interim basis.” The research also includes a survey of 513 associate chartered accountants, which reveals that the median bonus is £16,000, much lower than public perceptions would suggest, with only nine per cent of respondents saying they receive a bonus of over £100,000.The survey queried 280 chief financial officers about their pay plans. KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo whatsapp Sharecenter_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapp Show Comments ▼ Pay likely to rise as firms court talent Tuesday 29 March 2011 8:42 pmlast_img read more


ARM surges on Intel results


first_img whatsapp ARM led the FTSE gainers yesterday, rising 5.65 per cent, after blockbuster results from its processor rival Intel. The US firm predicted second-quarter sales of around $12.8bn (£7.8bn), fuelling appetite for chip designer ARM. The Cambridge-based group has made strong gains since Microsoft unveiled its latest round of software running on its processors. Microsoft recently showcased the new version of its Internet Explorer browser running on an ARM-designed chip. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap ARM surges on Intel results KCS-content Sharecenter_img Wednesday 20 April 2011 7:50 pm whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Show Comments ▼last_img read more


PlayUp reverse takeover and platform acquisition collapse


first_img24th January 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Regions: Oceania US Australia Australia’s PlayUp has decided to cancel a planned deal to acquire US gaming platform 123gaming, and scrapped a deal for a reverse takeover that would have seen it listed in the Australian Securities Exchange (ASX). Australia’s PlayUp has decided to cancel a planned deal to acquire US gaming platform 123gaming, and scrapped a reverse takeover that would have seen it listed in the Australian Securities Exchange (ASX).The sports betting, gaming and fantasy sports operator had planned to complete a reverse takeover of renewable energy company Mission New Energy with the deal designed to fast track a public listing for PlayUp.However the deal was then scrapped after PlayUp discovered that Mission New Energy, which traded on the ASX under the MBT symbol, is suspended from trading on the ASX for failing to pay its annual listing fees. It also found that the business was not capable of trading on the US NASDAQ Stock Market while carrying out due diligence.These, PlayUp said, were just two of a number of misrepresentations made by Mission New Energy that were uncovered during due dilligence.“During our due diligence into MBT we identified several areas of concern that were not adequately addressed, and that were quite disparate to what MBT had represented to us,” PlayUp chief executive Daniel Simic explained. “Ultimately, they failed to deliver on what they had initially represented.“We requested meetings with their executive team to table and discuss these concerns which were not responded to,” Simic added. “It left PlayUp with no alternative but to terminate.”PlayUp also noted that Mission New Energy failed to provide accurate or reliable figures concerning the position of its creditors or subsidiaries. These could significantly impact the post-takeover company’s ability to trade, the operator noted, with queries about these issues raised during due diligence apparently ignored.Despite PlayUp cancelling the transaction, Mission New Energy claims that the operator owes it money, namely AUD$43,000 (£23,400/€27,000/US$30,500) in pre-trigger holding costs. However PlayUp claims that this money would only have been paid if the reverse takeover had been finalised.In related news, PlayUp, which operates the ClassicBet, Draftstars, Betting.Club, TopBetta, and MadBookie brands, has also pulled out of its proposed acquisition of US-facing blockchain iGaming platform 123gaming. The operator said that it had concerns about the ownership of intellectual property, the platform’s commercial viability, its supplier agreements, payment gateways and profitability.“We’d like to thank 123gaming for its honesty and openness in its dealing with us,” Simic said. “Unfortunately, the deal could not be completed having regard to the best interests of the key stakeholders in PlayUp.“PlayUp submitted alternative proposals to 123gaming which included offering PlayUp stock options to 123gaming shareholders, however 123gaming declined. We wish them all the best in their business endeavours moving forward.”123gaming chief executive Rob Earle said that while he was disappointed by the deal’s collapse, he still believed in the concept, and would look for other opportunities to deploy its solution in the US gaming market.PlayUp had planned to integrate the 123gaming platform as part of its drive to create a blockchain-powered online betting, gaming and fantasy sports offering.However the company is moving ahead with its acquisition of TopBetta and MadBookie from odds solutions provider The Bookmakers. It paid a further $750,000 towards the $6m acquisition cost on January 17, with a further $1m to be paid on January 29. Tags: Fantasy Sports Mobile Online Gambling OTB and Betting Shops Race Track and Racino PlayUp reverse takeover and platform acquisition collapse Topics: Sports betting DFS Horse racing DFS Email Addresslast_img read more


Webinar: Brazil: The impact of the pandemic on the sports betting roll-out


first_img This 60-minute webinar will discuss the current and potential changes in the Brazilian gaming market due to the impact of COVID19, with a particular focus on the roll-out of sports betting regulations, as a follow-up to the law passed in December 2018.Priorities have changed all over the world, professionally, economically, politically, and Brazil won’t be different.In this webinar we will discuss:– Where are at with the development of licensing and regulatory framework – how has the pandemic impacted on the timeframe?  – What are the prospects for further authorisation of other verticals – how the pandemic has influenced the political agenda for gaming? – What the future may look like, in the middle of so much uncertainty?Speakers:Deputy Newton Cardoso, President of the Tourism Commission (CTur), Chamber of Deputies, Brazil Itamar Pereira, Technical Manager, SECAP – Ministry of Economy André Gelfi, MD Brasil, Suaposta/Betsson Alessandro Fried, Chairman, BTOBet Email Address Uncategorized Subscribe to the iGaming newsletter This 60-minute webinar will discuss the current and potential changes in the Brazilian gaming market due to the impact of COVID19. Webinar: Brazil: The impact of the pandemic on the sports betting roll-outcenter_img This webinar is sponsored by BTOBet Topics: Uncategorized 29th April 2020 | By AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more