Empire Online has had a torrid time along with the rest of the online-gaming sector following the passing of legislation in America that has in effect banned internet gambling.
Last year’s reversal triggered the departure of non-executive chairman Leonard Steinberg, and halted the group’s US business, which it said will have a “material” impact on future earnings.
Its shares have fallen 35 per cent since the US decision and 75 per cent on Empire’s flotation price 19 months ago. Last week, it baled out of the sector by selling its gaming assets to Party Gaming for 83.3m ordinary shares, worth $37.96m (£20m).
The group intends to become an investment company after the disposal is completed, subject to shareholder approval. Chief executive Noam Lanir, through his company Groverton Management, has shown his confidence in the move by snapping up 5.5m shares for £2.34m. The transaction increases Lanir’s stake to 101.1m, or 34.5 per cent, of the issued share capital.
Oryx Gaming has unveiled its complete turnkey solution online to Croatian land-based provider, Senator. According to the deal, the Croatian company will have access to the Oryx Hub, Oryx RGS, and various third-party casino content.
EGT Digital is pleased to announce a collaboration with Lithuanian brand, MrSlotty. The Bulgarian company, EGT, will have the opportunity to deliver to its customers the latest gaming content from the provider. Also, they will profit from the advanced platform and third-party content from the Lithuanian operator. By accumulating a wide range of third-party games, EGT will be able to deliver its premium content to providers around the globe.
Meeting Players’ Needs
Casino operator, Red Rake Gaming (RRG), has grown its presence in the Eastern European market following a partnership with Pokerdom, which it praises as one of the biggest providers in the region. As a result of this deal, the provider from Spain and Malta will distribute its lobby of slot games to Joker Online and Pokerdom. Red Rake Gaming continues to push the limits with new gaming concepts based on the experience of players in the game development cycle.