News in brief: IGT; Microgame PE deal; Bingo.com losses

This year’s annual eGaming Review operator awards are only 13 days away, so if you haven’t booked a table, don’t miss out and get in touch with us today! To help attendees celebrate this year RealTime Gaming, casino software suppliers to the Asian market, is sponsoring this year’s wine at the event as well as the Asian Operator Of The Year category that will be contested between SBObet and Fun 88.

Gaming supply business IGT has merged its WagerWorks online casino business and Million-2-1 mobile gaming arm into a single interactive division headquartered in San Francisco, California. The interactive division will be led by Gideon Bierer, IGT executive vice president.

Private equity backers Texas Pacific Group (TPG) and Monitor Clipper Partners (MCP) will complete a capital increase of Italian network service provider Microgame giving TPG and MCP close to a 60% stake in the company by the end of this year, the company has confirmed to eGaming Review. TPG and MCP will each hold just below 30% of Italy’s largest poker network provider, with Microgame’s founders, including president and CEO Fabrizio D’Aloia, retaining the remaining stake of just over 40%. D’Aloia declined to disclose the size of the capital increase at this time.

Bingo.com has posted a net loss of US$245,507 in the third quarter of this year, comparing favourably to a net loss of $390,432 in the third quarter in 2009. Total revenue fell to US$97,509 for the period ended September 30 2010, 93% down on revenue of US$1,436,296 for the third quarter of 2009. The operator, in which Unibet took a 25.9% stake in May, added that it had reduced general and administrative expenses, and had completed the purchase of the remaining 4% domain name payments for the Bingo.com URL.