Israeli online gambling operator valued at $37.5 million

Tel Aviv-based PrincessNet online gambling operator is raising $7.5 million from the U.S. fund MET in exchange for 20 percent stake in PrincessNet, reported. The deal will bring PrincessNet”s market value to $37.5 million. Founded in 1997 by Adi Tarkay, PrincessNet operates a network of online casinos. To date, a total of $1.7 million … [Read more…] embraces Formula 1 unveiled an agreement with the Faenza Team to become an official sponsor for rest of the 2004 Formula One World Championship Season. The deal, which is the first attempt to enter the prestigous competition by online operator, might boost advertisement. So that, at the forthcoming American Grand Prix aficionados would gaze at the … [Read more…]

Giant casinos will drag poorer Scots into gambling

According to Europe’s only professor of gambling, the number of problem gamblers will increase dramatically across Scotland if officials adopt a plan to build four mega-casinos in Glasgow, The Herald reported. Dr Mark Griffiths, professor of gambling studies at Nottingham Trent University, fears that Glasgow’s deprived communities would suffer the most from the massive developments … [Read more…]