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Brazil President Luiz Inácio Lula da Silva stated that, if it were up to him, online betting companies would be shut down.
During a livestream on Sunday, he said he had met with “eight victims of online betting”. To reinforce his criticism of the sector and in an attempt to win over conservative voters, he pointed out that one gambler had made 1,400 instant fund transfers (Pix) to a betting site. Lula criticised the Central Bank for failing to detect such a high volume of transactions to a single company.
However, that responsibility does not lie with the Central Bank. It is the role of the Secretariat of Prizes and Bets to monitor and regulate the sector. Betting companies submit detailed daily reports on bettors’ financial transactions with the sites. A specific module within Brazil’s betting management system detects recurring transfers.
About Fantasy Dice - 3D Dice Roller
Ahlberg agrees the €16.4 million valuation is attractive, with a deferred consideration of around €10.4 million that reduces the immediate cash burden.
Corfai Capital Managing Partner and Founder Ben Robinson is even more bullish on the price, pointing to the circumstances in which GiG was able to acquire the business.
“On the numbers GiG has disclosed it looks cheap,” he says. “€16.4 million for 80% implies an EV of €20.5 million against roughly $50 million of run-rate NGR, 30% year-on-year growth and positive cash generation. €6m of cash on day one for a business generating $50 million of NGR tells you who needed the deal.”
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Meanwhile, EGI continued to grow and a year later, meaning now, it’s taking off. I’m thinking at this point I really have to put all my focus on EGI and probably let go of my column, but I liked it too much because Bill allows freedom of expression, not to be taken for granted, especially not in this censorific world.
So just around the time my subscription base is starting to take off and I’m wondering whether I should focus on my own stuff entirely and drop everything else, knowing the End is Near anyway, I get a call from Bill, saying that CalvinAyre.com (will no longer publish gambling news).
Same thing that happened in 2012. I’m sad, but once again, I’m just beaten to the punch. My whole adult life has been that way and I can’t really explain how or why other than to say it I’m constantly being pushed in the direction I’m already going in.
