Bingo Game Provider Sold to GTECH - 04-08-08

April 8 - Mergers and acquisitions occur all the time in the online gambling world and this week was no exception. It was announced that GTECH Corporation agreed to buy 90% of St Endoc Holdings Limited, a Gibraltar based company. The buy out would also include St Endoc's subsidiaries, one of which is St Minver, a white label gaming company that provides casino and bingo games and solutions.

If all goes well, the sale of St Endoc will be completed by the end of the current quarter. While GTECH has spent around 28-million Euros on the company, it is expected that it could fork out more another 13-million if St Endoc performs well in 2008 and 2009.

GTECH's President and CEO, Jaymin B. Patel said about the acquisition: "As we continue to expand our presence in regulated internet based gaming, St Endoc is a logical fit. The St Endoc group has provided white label management services to some of the most recognized brands in Europe operating interactive bingo, poker, and casino games, including specialized support for peer-to-peer networks around managing fraud, collusion and various tournaments."

St Minver is considered one of the largest operators of European gaming networks by providing gaming solutions to leading online brands across the Continent. Some of its bingo brands include Virgin Bingo, Chit Chat Bingo, Woolworths, Bingo Joy and Shipley's Bingo. St Minver works in collaboration with its partner companies to create quality gaming solutions and is also responsible for excellent poker and casino sites on the internet. It is a popular choice for players seeking stable online bingo entertainment.

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