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- Management buyout of YourCash with funding from Pricoa Capital
- “GAMING IN SPAIN, TODAY”
- LOCUS GAMING ANNOUNCES ATR PARTNERSHIP
| Management buyout of YourCash with funding from Pricoa Capital Posted: 13 Feb 2013 10:38 AM PST
Funding for the transaction was provided by the management team and funds provided by Pricoa Capital Group , an institutional investment unit of Prudential Financial Inc.* (NYSE:PRU).Headquartered in Milton Keynes, UK, YourCash is an independent ATM provider with c6,000 ATMs deployed throughout the UK, Netherlands and Belgium in a variety of locations including convenience stores, supermarkets, universities, casinos, hospitals, post offices, leisure outlets and petrol forecourts. In the Netherlands, YourCash installed their 800th ATM in December 2012 and currently manages 10percent of the overall in-country ATM market.In 2012 YourCash handled over 73 million ATM transactions, equating to £2 billion cash dispensed through the UK estate and €1.2 billion in Europe. YourCash employs 85 staff and generates over £32 million in annual sales. The YourCash Free-To-Use model is the primary proposition, now making up over 50% of the UK ATM estate and over 80% of UK transactions. In Europe the ATM estate is entirely Free-to-Use.YourCash has plans to expand its international proposition across further European countries, including the introduction of high speed ATM terminals, wireless technology, ATM innovation and branding licences, offering business partners a unique ATM service proposition for their customers, as well as ATM Services for Financial Institutions.Pricoa has provided YourCash with a financing package combining senior and subordinated debt delivering funding for the management buy-out and group refinancing while also providing support for on-going investment and acquisition opportunities. Jenny Campbell commented "I am delighted to have concluded the management buyout and refinancing. I have ambitious plans for the continued strategic development of the business and this transaction enables me and the senior management team to accelerate the pace of expansion, both organically and acquisitively, in driving forward our strategy in Europe. The growth of mobile payments technology presents opportunities for YourCash to join these initiatives with cash options for customers, thus preserving the option of payment choices for customers. I would like to thank our staff, customers and suppliers for their continued support and look forward to working with them going forward"Donald Campbell (no relation to YourCash CEO), Senior Vice President of Pricoa Capital Group based in London commented "We are delighted to support the YourCash management team on their acquisition of the business. Throughout the process, they have demonstrated a high level of determination and professionalism in their marketplace. They have clearly defined plans for growing the business which they can fulfil by combining our financing with their market knowledge, relationships and expertise. This relationship-focused sponsorless structure typifies the deals that Pricoa Capital Group supports in the UK mid-market."The management team was advised by Deloitte and DLA Piper.Darren Boocock, Corporate Finance partner at Deloitte said “I am delighted that the management team have the opportunity to realise their ambitions for the business. I look forward to working with them in future.”     This posting includes an audio/video/photo media file: Download Now |
| Posted: 13 Feb 2013 10:33 AM PST
Madrid, 13 February 2013. Documenting the information on the recent, changing gaming industry in Spain and setting out this information in an orderly manner are the main premises on which the CODERE Foundation – a not-for-profit organization created for the purpose of setting out the essential structure of and organizing activities aimed at the study, analysis, evaluation, regulatory development and evolution of the gaming industry – presented its latest publications yesterday at Madrid's Cibeles Palace "Music Box" Auditorium.  Javier Moscoso del Prado, Fernando Prats Mánez, Rafael Catalá Polo, José Antonio Martínez Sampedro José antonio Gómez Yañez y Alberto Palomar Olmeda. The event was attended by Rafael Catalá Polo, Spain's Secretary of Infrastructures, Transport and Housing from the Ministry for Internal Development and member of the CODERE Foundation Board of Trustees; Fernando Prats Máñez, the Autonomous Community of Madrid's Ministry of Economy and Finance's Director General of Taxation, Regulation and Management of Gaming and José Antonio Martínez Sampedro, the President of the CODERE Foundation. Also heading the meeting were Javier Moscoso del Prado, Chairman of the Thomson Reuters Aranzadi Editorial Board and the book directors Alberto Palomar Olmeda, S.J.D., Professor of Administrative Law at UC3M, and José Antonio Gómez Yañez, Ph.D., Professor of Sociology at UC3M, respectively from Aranzadi and IPOLGOB.
This meeting also delved into the analysis of the external context in which gaming (betting, advertising, agents…) is involved, without which the industry itself would not be fully comprehensible, dealt with in En torno al juego de azar (Around gambling). Also presented was the book Código del Juego (2nd ed.) (Gaming Code), an updated compendium of the Gaming Industry regulations, both of these books published by Aranzadi. In the keynote address, José Antonio Martínez Sampedro, the President of the CODERE Foundation, reflected on the current "revolution" and changes the Gaming Industry is experiencing. He also stressed that "it is necessary that the industry and the regulation thereof be structured and expanded upon properly". Fernando Prats Mánez, the Autonomous Community of Madrid's Ministry of Economy and Finance Director General of Taxation, Regulation and Management of Gaming, spoke on the new direction the industry will be taking in the relatively near future. In his opinion, "the trend clearly noted is toward deregulation, in keeping with the "National Gaming Law model". He also commented that "the regulator's function is not to configure the business – that falls to the gaming business operators – the regulators' function rather being that of safeguarding players and giving rights. Therefore, our regulation can be divided into three parts: a regulation of player rights and guarantees, a regulation of technical requirements of the platforms and what is known as gaming regulation, which will assign the mechanisms of the different games to the operators".
Precisely regarding the Industry's future in Spain, Rafael Catalá Polo, Spain's Ministry of Development's Secretary of Infrastructures, Transport and Housing and member of the CODERE Foundation Board of Trustees, highlighted the work done by the CODERE Foundation for enhancing the knowledge thereof and opinion-making by carrying out lines of action making it possible to reform the Gaming Industry. Catalá Polo also commented "One must be optimistic about the years to come. I believe the industry is going to continue expanding constantly. We are going to be seeing a time of economic recovery and consumption, a time of new gaming modalities and offers, and the CODERE Foundation is going to be accompanying the industry, its professionals and the government administrations in this process".
Anuario del juego en España : A work sizing up the Gaming Industry Like other industries, the gaming industry has felt the impact of the crisis in aspects including that of the decline in employment and the amounts wagered. In fact, in 2011, "the actual gross gambling revenue" (the sums wagered minus the winnings) has dropped by 15.7% since 2008, down to 9.614 billion euros. Despite this, the new environment has bolstered the modernization of some gaming modalities by way of technology – in the case of bingo – or the boost in the sports betting offer, or online gaming, which have contributed to the industry evolving. The authors of the Anuario del Juego en España describe it as "a yearbook setting out transparent information on the industry in an orderly manner by systematically viewing gaming as an industry". Anuario del Juego en España provides a full-range view of this major industry, totaling 2.6% of the GNP and directly or indirectly employing around 170,000 people. This book also includes this industry's major contribution to society through gaming taxes, corporate taxes, employee personal income taxes, local taxes and quotas paid into the social security system, etc., amounting to over 7 billion euros (not including the VAT paid to suppliers which the industry cannot shift to its customers). To date, the information on gambling in Spain has been dispersed throughout different publications, much of the data on this industry having remained unknown. The objective of those responsible for this book was to document and compile multiple items of data from different government agencies, organizations, gaming business operators' associations, other associations, the media and companies and then round out this information with surveys and interviews with experts, all of which have made it possible to shed some light on the gaming industry and provide it with greater transparency. Current legal situation and the context of gaming in Spain At this meeting, the contents of other publications focused on the current legal status of gaming and the regulations, as well as the environment surrounding this industry, the different players involved and development and behavior within this industry were also discussed. The second edition of Código del Juego (Gaming Code) by Rafael Andres Álvez and Alberto Palomar successfully consolidates and updates the legal realm of gaming in Spain by retrieving the new online aspects, the rules of a large number of games of chance and incorporating the different European, national and Autonomous Community provisions of law. In this regard, En torno el juego de azar by Alberto Palomar Olmeda, also published by Aranzadi, successfully delves into some currently hot issues such as the situation of unfair competition of the gaming operators in Spain, an interesting, painstaking process toward the transparency and legality of gaming. This book also expands upon the unique aspects of sports betting and different competitions involving animals, the licenses for opening gaming establishments or the protection of minors under gaming legislation, these being aspects of major importance comprising of the aspects unique to this business which are gathered and grouped together for the first time making it possible to comprehend the complexity of this industry in our country. By way of these publications, the CODERE Foundation is attempting to convey a faithful image of Gambling to society as an economic activity of importance in Spain by promoting the study, analysis, transparency and legal certainty with regard there to.   This posting includes an audio/video/photo media file: Download Now |
| LOCUS GAMING ANNOUNCES ATR PARTNERSHIP Posted: 13 Feb 2013 01:53 AM PST
The initial 12 month commercial partnership with the television channel is expected to direct significant traffic towards the casino, which launched in January. The deal includes an exclusive offer to match any first deposit up to £20 with a 150% bonus, giving new customers up to £30 in additional funds. Locus Gaming CEO, Ed Andrewes, said: "The opportunity to team up with a great site like www.attheraces.com was too good to miss out on and we're delighted to have come to an agreement. "Like us, they're very keen to optimise their service for each device so it is a perfect fit, and I'm confident it will be mutually beneficial in the coming months." Jack Gold Casino is designed to deliver a superb user experience on both mouse-led and touch screen devices, with all content displayed at optimal size and resolution for each device. It offers an exciting range of traditional table games including roulette blackjack and baccarat, as well as 3-reel and 5-reel slots powered by Realistic Games. Attheraces.com has also been designed to allow race-goers to get the very best out of the site in a format built specifically for smartphones and tablets. It allows users to view racecards for all UK and Irish meetings with free Timeform analysis, as well as providing profiles for each runner when they tap on the racecard number. Exclusive videos, racing news, daily previews and the latest clips are also available, alongside the full featured ATR tracker. Chris Morgan, New Business Manager of ATR said the partnership with Jack Gold Casino provided an excellent additional service for customers. He added: "At The Races looks forward to helping Locus Gaming establish themselves as a key player in the mobile gaming space" About Locus Gaming Jack Gold Casino is operated by Locus Gaming Isle of Man Limited, a pioneering online casino offering gaming entertainment across tablet, mobile, and desktop platforms. Locus Gaming was established by Ed Andrewes and Mick d'Ancona, two former directors of Ladbrokes. The company has an Isle of Man gaming license. Based in the UK, Jack Gold is an online casino developed in the spirit of tablet and mobile computing. With a focus on simple, intuitive, and fun to play games, the company is passionate about offering customers the best possible experience at an online casino, with a diverse array of gaming products and client-focused customer service. About At The Races At The Races is the UK and Ireland's most watched dedicated horseracing channel. It launched on June 11th 2004. It is a joint venture between BSkyB, Arena Racing Company and other racecourses. Broadcasting 24 hours a day, At The Races is currently available to over 13 million multi-channel homes across the UK and Ireland through Sky, Virgin Media and UPC. The channel regularly reaches over 2 million individuals monthly in UK and Ireland households with Irish viewing adding 20% to UK audiences (BARB & Nielsen). Attheraces.com attracted an average audience of 1.66 million monthly unique users during the three months June-August 2012 with users spending on average over 25 minutes on the site each visit (Google Analytics). At The Races serves on average over 3.5 million video streams each month with instant race replays available free of charge on attheraces.com. At The Races is distributed into 5,800 commercial premises by Sky. Outside the UK and Ireland, At The Races distributes its content into over 30 countries by means of GBI Racing, its joint venture operation with Racing UK.
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