A renegotiation has taken place between the Royal Bank of Scotland and 32 Red Online Casino – Poker Room, along with the SPorts Betting Company. This was done as a part of a restructuring initiative. This involves a revised loan structuring being carried out between the Royal Bank of Scotland and the online gambling group. The amount involved in this now effort is GBP 3.5 million and it is designed to assure the continuation of a strong ongoing and constructive relationship between the gambling group of 32 Red Online Casino – Poker Room, along with the SPorts Betting Company and the bank. This new arrangement will also serve as a revised gearing in order to form a strong financial basis for the coming phase of company development.
Through its offering of stock to institutions and other financial investors, 32 Red Online Casino is planning to raise another GBP3 million, before expenses. That portion of the offering that is going out to institutions is being completely underwritten by Numis Securities Limited.
The need for approval by its shareholders is a part of this agreement with RBS. Shareholders will need to approve the company’s placing of its AGM to be held on 10 April 2007. This is said to be normal for such transactions and for facilities such as these. It will contain various covenants. Included will be EBITDA, along with gross win and cash headroom designed to make it possible for the Royal Bank of Scotland to monitor the loan. The Royal Bank of Scotland is also being included in the offering and will receive a warrant to subscribe to 560,000 of the company’s common shares at 1p per share. This offer is made to satisfy what would otherwise involve the payment of the banking fees that are associated with the loan.
There is to be an offering of 12 million new Ordinary Shares which are to be valued at 25 pence per share. As the company’s agent, Numis, has conditionally agreed to attain subscribers for placement of the shares. If they fail to achieve this, they agree to pick up that portion directed toward institutional investors themselves. This is a significant undertaking since such shares represent a full 67 percent of the offering. Once the new shares are placed they will make up 17.43 percent of the 32 Red’s increased issue of capital shares.
Some of the company’s directories along with its founding shareholders and their associates, will be demonstrating their faith in the company’s future by their having agreed to subscribe to shares as follows:
CEO Ed Ware, while commenting on the refinancing project has said that the company is pleased as are the principal shareholders that they have succeeded in re-negotiating their banking arrangements. Ware sees this along with the appointment of Martin Saunders and Jon Hale as a part of the management team, as a strong indication that the company’s plans to integrate the BetDirect business as projected when first acquired, is on its way to success.
So as we evolve the tools that allow us to play poker, it also increases those same tools that allow us to improve our style of play. Many of these are computer programs or storage of the habits of our opponents.
ICM (Independent Chip Model) and is a tool designed for those who usually engage in multi-table tournaments and sit and go. The calculator, developed by UCLA, allows to estimate the expected value, in terms of premium, based on the chips you have.
Let’s take an example. We enrolled in a sit and go nine players with buy-in € 10. The prize for first place is $ 40 (4 times the initial buy-in), the award for the second is 25 euros and the award for the third time is 15 euros. Obviously from fourth to ninth position there are no prizes.
At the beginning of the tournament equity, ie the percentage of victory translated into money, is exactly the same for all players (10 euros) because everyone has the same amount of chips in front. Apart from the first hand and the flop with only two players to contend for the pot. The two, call them A and B, both decide to go all-in. Having the same number of chips in front of those who were to win would you throw off your opponent.
Vince A and B then leaves the tournament. Now the equity is obviously up to but not the double as one would think considering it has just doubled his stack taking it from 1,500 to 3,000 chips. In fact, the equity of Player A is now 18.30 euros (instead of twenty) and the other players, although not involved in the hand, however, is increased from 10 to 10.10 euros. The reason? Very simple, now that the number of contestants is reduced from nine to eight chances to win a prize not grown only in the author’s double up, but also for everyone else.
During the tournament, especially when you stay four or five players, this tool can become very important to calculate their chances of victory and change the style of play accordingly.
You have decided to play poker, but right now none of your friends want to sit at the table green look to the PC, think back to the advertising of that site, and start considering the absurd possibility of playing on the internet. For a little person experienced in information technology, pay online can be a step into the void, because basically it comes to hand money to an entity without a face. This article will illustrate the main mode of payment towards the poker rooms, highlighting strengths and weaknesses, to give at least an idea of what we run when you choose to perform a movement of money via the internet.
The credit card is the most common payment method, and probably also the safest. I would first point out a distinction between credit cards and debit cards.
The first is connected to a bank account that theoretically (not always) may allow the use of money also in the case where the money is not physically present on its own account.
This means that even if the account balance is negative, you can still continue to spend money until the bank sees fit, in its contract with the bank, there should be a clause regarding the maximum tolerable debt.
The debit card, more commonly known as a prepaid card, but can only use the money in the account: in other words, can not go red.
That said a debit card for online transactions because it has some advantages:
Undergo a fraud (of any kind) can include a maximum loss of the money they actually have the account. It is not a trivial matter: if you have 100 euros on paper, but the bank makes you credit up to $ 1000, with a debit card risk of losing 100, with a credit card 1100.Il risk of losing your fund should be separate from the money you have decided to invest in poker, even though it may seem absurd, it is possible to fall victim to psychological situations as a result of emotional shock due to the games you’ve played (commonly called “Tilt”), which you may bring instantaneously to invest huge sums of money. And losing them.
The debit card is more widespread in Italy placed the pay, it can be ordered at any post office. Almost every bank offers a rechargeable card and has no special advantages over other online transactions with respect
Bruce Elliott, NETeller’s experienced business developer and marketing expert, is jumping ship in a search for greener pastures – he’s joining the Microgaming management team. He will be their new vice president for sales and marketing!
The appointment was announced last week by this Isle of Man-based veteran turnkey provider and online gambling software developer. Mr. Elliott will begin his work for immediately. After spending four years with e-wallet NETeller, Elliot is joining Microgaming which is also based on the Isle of Man. While at NETeller, Elliot helped the company grow from its initial 75 to its present over 800 staff.
As Elliott arrives it is during a period of continued growth for Microgaming and a period in which the company is stepping up the tempo of its entrance into new markets – markets that include both Europe and Asia. During the last twelve months, Microgaming has increased in number its poker and casino sites by a factor of at least 20. These have been included with its already significant group of licensees and represents fulfillment of a promise to give operators the most aggressive schedule of new game introductions within the industry.
Elliott was employed by GE Capital before coming to NETeller, where he worked in sales and marketing. Along with his selling experts he brings with him substantial PR abilities and knowledge of advertising combined with a background that includes technology venture capital business.
Elliot says that the people that he will be working with are in no way new to him since he worked with many of them when he was employed on the Isle of Man. He is happy to join with what he sees as being without question one of the leading factors within the gaming industry. He is well aware of the company’s sustained pattern of growth during the last few years and he says that he looks forward to helping to maintain this trend as he becomes a part of the company’s team.
Microgaming’s current CEO, Roger Raatgever, is reported as saying that his company his very happy to bring Elliot on as a part of their efforts in what he sees as an extremely exciting time for their industry. In addition to what his company has already accomplished, Raatgever sees the addition of Bruce Elliot and his experience as being of great value and what will undoubtedly become a major factor in bringing about the continuing success as the company enters what can only be described as a very diverse range of new emerging markets.
If you are an online poker player then you should be prepared for a big surprise. Party Poker is planning a tournament with a guaranteed pot of five million dollars to take place between Monday, the 2nd of April, and whenever it is completed. In addition to all this there will be free rolls with prizes of over $50,000 that are scheduled to take place every month. But that’s not all, there are also hundreds of thousands of dollars that are up for grabs situated in the Bad Beat Jackpot.
The main feature of the five million dollar pot will be the $300,000 Guaranteed tournament series which is to take place each Sunday and which is attracting increasingly growing numbers of competitors each week. You can qualify online for as little as $3.
In recent months there has been a real jump in the popularity of the tournament so much so that as many as four new qualifiers have been included, each on a Saturday and Sunday.
Included in the various tournaments that will see an increase in their guarantee starting from today (Monday, the 2nd of April) are the $40,000 Guaranteed event that takes place each Saturday, which will now have a guaranteed pot of $50,000. And there are still other events for which the guaranteed has been raised and that includes the daily $10,000 Guaranteed (rebuy), which is being raised to $13,000, along with the daily $18,000 Guaranteed, which will be increased to $20,000.
As explained by a spokesperson for Party Poker, it is good news for everybody all around that there will be over $5 million in prizes being offered to thousands of players throughout the guaranteed tournaments that are being played monthly. Along with these guaranteed tournaments there is also the ongoing qualifications for the World Series of Poker which is going on at full speed with over $50,000 in freerolls that are being made available monthly. In addition to all this, which by itself is quite good, the Party Poker Bad Beat Jackpot will continue to keep growing at a rate in access of $1,000 per hour. It has already reached over $145,000 at the time of this printing.