In the countdown to the New Year, we have also been counting down some success stories as well as failures in the online bingo industry. Sadly one of the failures has been Devilfish Bingo, with its corresponding poker and casino sites added into the bargain. Sadly we say, as this is a charming brand which belonged to the charming poker character – Dave "The Devilfish" Ulliot. But the bingo operation only became part of the trio in 2010, when the company was already known to be struggling to survive.
The online bingo companies which have emerged victorious, truly have enjoyed major victories, while Devilfish Gaming has sold for a tenth of its capitalized value, when it launched on the London PLUS market in March 2008. It has been confirmed that The Weather Lottery has entered into a conditional agreement to purchase the business for £330,000 and its major interest appears to be in the poker brand. The purchase deal includes a £40,000 cash payment, plus the issue of 30,000,000 ordinary shares of 0.1 pence per share. We are not really all that sure what will happen to Devilfish Bingo and casino, but one would assume it will remain together with the poker product.
The purchase comes as part of TWL strategy to acquire properties which will expand their gaming division as a complement to their current lottery management business. It seems that Dave Ulliot has once again reached the end of another chapter in his colourful life and poker career. Things went wrong early with this business but Mr. Ulliot is no stranger to disappointment or loss, fortunately he is also the type to just pick up the pieces and start over again. It is highly unlikely another foray into online gambling operations will take place and we have to be honest and say, we wonder what he has planned next?
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