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Ateonline Press Release
Speaking at a conference last week in London, Richard Glynn, CEO of Sporting Index, broke the news that his company would like to purchase Google. Surprisingly, no media companies have picked up on this story probably due to this view being the speculative answer to a cheeky question from a delegate at last week's Gaming Investor conference. Richard gave the view that if there was one company he thought could give his company what it needed in terms of smart marketing and a converged product, it was the mighty Google.
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Glynn was a panel member on a fascinating CEO panel which took place during the conference's networking evening drinks and brought together Luke Alvarez of Inspired Gaming, Henry Birch of Leisure & Gaming plc, Charles Walker of JPM International, Johan Tïrnqvist of Play n Go and Wayne Lochner, BetBroker Ltd to talk about the future of gaming.
Gaming Investor, held on Friday 25th May at the Guoman Tower hotel in central London, is the only European conference dedicated to bringing together gaming companies looking for investment and the investment banks, venture capital firms, private equity houses and other financial institutions with an active interest in the gaming industry. This year�s gathering saw some 100 attendees from countries as diverse as South Africa, India, Hong Kong and Albania and, noticeably, more start-up and young gaming companies in the room than last year.
Opening the conference, Ivor Jones, Research Director of investment banking firm, Panmure Gordon, gave attendees a review of the past 12 months in the gaming sector, plus a look to the future, from what he wished was his crystal ball. Not surprisingly, he reported on what has been a volatile year for the igaming sector and joked that he had feared that 'Gaming Investor' singular might have been an apt name given that market � happily a fear not reflected by the number of VCs and other investors in the room.
He also gave his personal opinion of his top pick of gaming shares and recommended Rank Group as an example of a well-run and innovative gaming concern that always looked to the future. As a closing comment he gave his view on what to expect for the next 12 months: It's an easy call to make; expect more and more M&As.
In a session looking at the risks associated with the land-based sector, Jeremy Greenhalgh, Partner of Charterhouse Capital Partners talked about the pending smoking ban in the UK and its potential effects on gaming profits. He reported that in a recent survey, 70% of high stake bingo players ( those who spend £100 or more a month, ) are smokers and of those surveyed, 20% said they would stop attending bingo halls once the new regulations came into force. All a bit of a worry for some companies valuations.
In other interesting sessions with robust questioning from the floor, clear themes began to emerge. Of all the territories identified as having growth potential, one was mentioned again and again: China. All eyes are on Asia generally as investors and operators alike look to this sleeping giant of a market with potential in all sectors from terrestrial casino to mobile to online. Sam Mahtani, of Kerizmo Gaming in Hong Kong talked about all the enormous potential and innovative ideas coming out of Asia and also pointed to India as an obvious one to watch.
In a session chaired by Adam Rosenberg of Goldman Sachs� Gaming Group in New York, Neil Murphy of Sun International, speaking for the land-based casino sector, was pretty robust in his view that gaming companies need to make their views clear to Government and help guide policy.
In a session which brought together investors including Sally Leeson of Endeavour Ventures and Paul Flanagon of Ariadne Capital, it became clear that gaming is still very much a market of interest for the money men and women. The skill gaming sector and other soft areas, including a hint of cross-over with the social networking phenomenon of sites such as BEBO and FaceBook, were clearly of particular interest.
In an operator panel looking at the European landscape, Niall Wass of Betfair gave his insight into how to succeed in this crowded marketplace, concluding with a view that seemed to be echoed from all panel members: It's going to be a very profitable future, but it's going to be a bumpy ride.
The programme concluded with the fantastic exclusive CEO panel and a networking drinks reception. After a few drinks, all there was left to do was to enjoy the UK's May bank holiday weekend.
The 3rd Annual Gaming Investor is scheduled for May 2008. Further details regarding dates and venue will be release shortly on www.ateonline.co.uk/gi, however should you have any questions in the meantime, please contact Stephen Jury at sjury@ateonline.co.uk.
- ENDS -
Pictures can be found at http://www.ateonline.co.uk/103/140/1002/ and high-res copies can be requested from:
Enquires
Stephen Jury
+44 (0) 20 7370 8566
sjury@ateonline.co.uk
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