Hostile takeover attempt reported

The Australian online gambling scene lit up last week as news emerged of a A$18.6 million hostile takeover attempt by Centrebet on International All Sports group. If successful the attempt would make Centrebet one of the largest corporate bookmakers in Australia.

The cash offer will increase to A$29.91 million if Centrebet manages to acquire more than 90 percent of the issued share capital of IAS.

Centrebet's chairman, Graham Kelly, corresponded with IAS shareholders last week, describing his company's offer as " extremely attractive opportunity" and characterising IAS as "...a poorly performing company".

His letter offered the opinion that would have difficulty in achieving profitability and rewards for its shareholders in the face of aggressive competition from larger domestic and international online wagering companies, the adverse impact of the introduction of product fees in Australia and prevailing economic conditions.

IAS shares initially surged up over 87 percent on news of the takeover attempt, but the board of IAS responded by calling on shareholders not to take any action, informing them that it had refused Centrebet's request to release it from the confidentiality and standstill obligations it had entered into previously when Centrebet lodged a bid for its IASBet Australian bookmaking arm.

The strong performance of the company's IASBet operation relative to its loss-making CanBet non-Australian operation is thought to be behind the directors' stated belief that the proposal "significantly undervalues the shares of IAS." While CanBet's A$8 million loss for the year to June 2008 dragged the company to an overall loss of A$3.8 million, IASBet posted a 21.3 percent growth in turnover and a 56.9 percent increase in EBITDA.

Live activity feed

  • Index
    " ComeOn Casino - Exclusive Free Spins OCTOBER All players welcome - No US!  *Available to new and existing players that have signed up through us previously Amount: 10 free spins Game: "Fairytale Legends: Red Riding Hood" How to claim the bonus: Players need to sign up from our LINK - Players only need to verify their emails for fraud purposes. WR: 0x   No max cashoutStart date: 26/10/2016 End date: 31/10 2016 23:59 CET Allowed max bet per spin: Lowest bet limit Min deposit needed in order to cashout winnings? YES Is the ND available on download &/or instant play version? Instant play only Is No deposit available on mobile? YES Restricted countries from this bonus: Denmark, Bulgaria, Estonia, and Portugal."
  • Dast logo 200x200
    "  Hey-hey-hey! New contest's on the way! :) So, today's question is: Do you remember your first time playing at an online casino (no brand title required)? When was it? What game were you playing? Why did you decide to start playing? Did it change your life? :D (Sorry, if it requires a long story. You can cut it ;)) All of LCB'ers are welcome to participate, but only 10 luckiest of you will be granted the Freespins. The winners will be chosen randomly tomorrow, so hurry up! LimoPlay Casino Team wishes you a great day!"
  • Avatar
    "Happy Hours Every Wednesday between 15:00 - 17:00 CET / You need to make a deposit at least once a week.  Every Wednesday you will receive 10 free spins, that can be used in Attraction, Lights, Pyramid: Quest for Immortality, Starburst. 2.1. You need to make at least one deposit 6 days prior, counting from Wednesday (between Wednesday 12:00 am & Tuesday 11:59 pm)."
  • Casino luck
    "Spook-tacular times lie ahead at NextCasino: Halloween Giveaway, starting 26th October   “Trick or Treat?”: That’s the motto of NextCasino’s Halloween Giveaway. Ten lucky players will be treated to 1.000 free spins each on fittingly themed Play n’Go slot machine Happy Halloween. To enter the raffle, players simply have to deposit at least £$€30 or play 200 rounds during the promotion period, which starts on Wednesday,26th October and ends on Sunday, 30th October. The more doors you visit on Halloween night, the higher your chances of treats. The very same applies during NextCasino’s Halloween Giveaway promotion. The more players play or deposit, the more tickets to our raffle they receive. Further information on this promotion can be found by following the link below: NextCasino Halloween  "
  • 10968334 941406075879270 4344286810322976139 n
    "10 fs on brand new RED RIDING HOOD Fairy tales legends"
  • Index
    " All requests sent and results later."
Swipe left or right to see more

lcb activities in the last 24 hours

  • 36
    new members
  • 612
    members online
  • 18353
    guests online
  • 150
    new posts
  • 2887
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results