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April 4, 2008
GTECH Corporation has reportedly agreed to acquire 90% of Gibraltar-based St Enodoc Holdings Limited and its subsidiaries, including St Minver Limited, a major provider of end-to-end white label gaming services including online bingo games and online bingo solutions. The price GTECH is paying is in the vicinity of Euro 28 million with up to Euro 13.6 million more depending on the performance of the company during 2008 and 2009. The acquisition is subject to regulatory conditions and is thought it will be completed by the end of this quarter. St Minver offers ‘white label’ gaming services for blue-chip media brands and integrated gaming solutions for European sportsbooks. It is a popular choice for many UK-based online bingo halls. "As we continue to expand our presence in regulated Internet-based gaming, St Enodoc is a logical fit," said Jaymin B. Patel, GTECH president and CEO. "The St Enodoc group has provided white label management services to some of the most recognised brands in Europe operating interactive bingo, poker, and casino games including specialised support for peer-to-peer networks around managing fraud, collusion, and various tournaments.” Written by John Witherspoon – Come and read all about the online bingo world. BingoStreet’s online bingo news section serves the freshest info of the industry.
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