Business insight…

PE trio walk away from ill-fated Gala investment reports AltAssets

May 13, 2010
PE trio walk away from ill-fated Gala investment reports AltAssets

Gala Coral’s shareholders will walk away with a paltry £10m (€11.7m) after throwing £1.2bn (€1.41bn) at the embattled UK gambling and bingo business, in the biggest British private equity loss, according to the Financial Times. Gala will also be the largest European company to be taken over by mezzanine debt-holders – those that invest...

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Betfair Gambling App Marks Apple Turnaround

May 7, 2010
Betfair Gambling App Marks Apple Turnaround

Betfair has become the first major betting company to offer a downloadable gambling application from Apple’s iPhone App Store, marking a turnaround on gambling ‘apps’ from the US consumer electronics and computer giant. The downloadable app featuring Betfair’s exchange product marks a change in policy for Apple, which has not offered gambling applications for...

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CryptoLogic Q1 revenues fall

May 7, 2010
CryptoLogic Q1 revenues fall

Business Financial Newswire- CryptoLogic’s first quarter revenues fell to $7.6m – down from $10.1m a year ago – with sluggish wagering activity across its licensee base. But it said operating costs decreased significantly and it expects to benefit from further savings as ongoing initiatives to streamline operations and lower overall expenses take effect. Total...

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