Facing Deep Financial Trouble
The community of online casinos and gambling enthusiasts in general await the
fate of Leisure and Gaming plc regarding Grupo Pefaco’s current indecision and
L&G’s monetary-related problems—a fate that many people hope to be a good one.
Because talks in relation to Grupo Pefaco’s interest in purchasing the Betshop
subsidiary have still not been finalized, online casino gambling group L&G could
be in deeper waters, Sharecast reported recently this week. While talks are
currently made and help bring in a gleam of hope—the odds and probabilities are
quite difficult to beat, especially due to various pressures. Still, despite the
vague and hazy hopes for a sealed deal with Grupo Pefaco, the internet-based
gambling group has started to respond to several other parties that are
interested in purchasing the subsidiary.
Cash flow difficulties have dreaded various operators of online casinos, and L&G
is presently in a struggle. The online casino gambling group was faced with the
utmost pressure after bankers insisted on their payments last October 6. As L&G
tries to come up with solutions to their presently difficult financial
struggles, they reportedly suspended their share trading since this plast May
L&G stated, and acknowledged, that it is quite improbable for them to seal a
deal regarding a purchase agreement with the Grupo Pefaco. The online casino
group also added that Pefaco has not yet renewed its terms of exclusivity after
the terms have recently expired, although negotiations are still in progress.
More negative consequences will occur to the group especially if the deal will
not be closed; but fortunately, Grupo Pefaco still communicates with L&G, and
other interested purchasers are present and are also being considered.
NetEnt Enters Online Casino Industry
The online casino industry has flourished and has grown tremendously popular
through the years despite economic challenges. Different online casinos emerged
from around the globe and contributed to what the industry is today: a big
industry worth billions of dollars and which maintains millions of cash flow
through taxation and operational fees in different countries. Net Entertainment
is joining the bandwagon and has announced its entry to the prolific industry of
branded internet gambling with a multi-year licensing agreement with media giant
NBC Universal Partnerships and Licensing division. The contract between the
licensing company and Net Entertainment gives it the right to create and develop
contents based on Universal’s branded properties.
The Chief Executive Officer of Net Entertainment, Johan Ahman, noted that the
partnership is a landmark for the company and will allow them to further improve
their online casino product offerings and to create new games based on
Universal’s branded characters, which are highly popular to the mass market.
This move is expected to attract more players of online casinos and will bring
growth to Net Entertainment.
Net Entertainment is based in Sweden and takes pride in its wide portfolio of
online casino games. The company is a premium supplier of gaming systems
digitally distributed to different internet gambling operators from around the
globe. Their services include a complete gaming solution comprising of
management platforms and complete gaming suites. Operators are assured of a
cost-efficient operation through the integration of customized solutions. Net
Entertainment’s current products include CasinoCafe for shopping malls, internet
cafes, hotels and airports. Its Casino Module, on the other hand, is a complete
suite of 90 internet gambling games and a centralized management tool.