The deal will see Virtue Fusion supply a networked bingo and games package for Paddy Power’s online bingo room at PaddyPowerBingo.com, which was previously part of a bingo network powered by Parlay Entertainment.

“Having a company such as Paddy Power with such fun and accessible brand values is a perfect match to showcase the community aspects that the Virtue Fusion platform delivers,” said Bob McCulloch, Chief Executive Officer for Virtue Fusion.

“In the world of online bingo, both network and stand-alone solutions are proven business models. However, as the industry matures there seems to be pressure to offer regular large and exciting prizes to players and this is made possible only through linking sites. Virtue Fusion is unique in that it offers large games to all its customers as well as facilitating smaller community-style games.”

“Liquidity is key in parimutuel games such as bingo,” said Christopher Coyne, Head Of E-Gaming for Paddy Power.

“We’re now joining the largest bingo network available and, through this move to Virtue Fusion, we are able to offer our customers better product and mini games not to mention more compelling bingo prizes.”

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In February, the Anguilla-based firm pocketed over half a million dollars by selling 3.5 million shares at the same price and stated that it now has a total of $750,000 to use for development purposes.

Bingo.com revealed that its recent private placements saw it issue five million common shares to bring its total issued and outstanding to 41,405,203.

“The funds from this private placement will be used to finance marketing initiatives in the United Kingdom, support expansion into new markets and act as a hedge against the rapidly changing currency markets we operate in,” said Tarrnie Williams, Chief Executive Officer for Bingo.com.

“Bingo.com is currently live in English and Spanish and we plan to launch at least two new languages and two new currencies in 2009. These developments, combined with our increased visibility in the United Kingdom, will enable Bingo.com to attract and retain bingo and slots players from around the world.”

Bingo.com revealed that Praetorian Offshore Limited, a non-US resident under Regulation S exemptions, bought one million of its latest share issue to raise its shareholding to 18.95 percent. It stated that the remaining 500,000 shares were placed with another non-US firm under the same exemptions.

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Rank is the firm behind online bookmaker BlueSq.com and virtual casino GrosvenorCasinos.com and revealed that it brought forward the publication of its interim results due to the ‘adverse changes to the taxation of bingo and poker’ announced by the UK Government earlier this week in its annual Budget.

The Maidenhead-based firm stated that the decrease in revenues from its online division was principally due to a significantly lower win margin in its sportsbook operation. Sportsbook revenues dropped 52 percent due to an ‘abnormally low’ win margin on football bets.

However, continued growth from Rank’s MeccaBingo.com site resulted in a one percent increase in online gaming revenues while the firm as a whole saw revenues climb one percent year-on-year.

“In spite of the economic uncertainty, Rank has performed in line with management expectations during the first 16 weeks of the year,” read a statement from Rank.

“However, the tax changes announced in the Government’s Budget statement will have an adverse effect on the Group’s profits in 2009.

“We will continue to manage our businesses with a focus on offering value and enjoyment for our customers while maintaining a measured and disciplined approach to capital investment and cost control.”

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Barking-based Gala Coral operates almost 2,000 licensed betting offices alongside 27 casinos, 156 bingo clubs, a UK telephone betting business and four of Europe’s most popular online gaming sites at Coral.co.uk, Eurobet.com, GalaCasino.co.uk and GalaBingo.com.

CryptoLogic revealed that the first of its slot games would go live at Gala Coral during the second quarter of this year followed subsequently by the complete roll-out of the full ten-game suite.

‘CryptoLogic’s strategy to focus on its Internet casino and branded gaming businesses is paying off with a steady stream of new customers including top gaming operators such as Gala Coral,’ said Brian Hadfield, President and Chief Executive Officer for CryptoLogic.

‘Players consistently mention that CryptoLogic has the world’s best Internet casino software and it’s exciting to see that major operators share their confidence in our games. The result is another deal that will enhance CryptoLogic’s top and bottom-line results in 2009 and beyond.’

Gala Coral has built a significant betting and gaming business in Europe and is the only gambling company in the UK with significant businesses both online and land-based in the bookmaking, bingo and casino markets. It employs over 19,000 people across three trading divisions to make it one of the top betting and gambling operations in Europe.

”CryptoLogic has some of the world’s leading branded slot games so partnering with them makes perfect sense,’ said Joe Coughlin, Head of New Product Development for Gala Coral.

‘Together, we will ensure that customers playing on our websites will continue to enjoy the finest entertainment and gambling experience.’

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Gigi Levy, Chief Executive Officer for 888, revealed that its new division would be called Dragonfish and be run by Gabi Campos.

888 publicised the move after announcing a white-label licensing agreement with Great Britain’s largest horseracing newspaper, the Racing Post, which will see it provide its market-leading gaming and back-end software along with customer support and payment processing services.

According to a piece from the Financial Times newspaper, 888 has focussed more of its resources towards business-to-business opportunities since the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in the US in October of 2006. It acquired 14 new business-to-business customers last year and this latest agreement with the Racing Post brings 2009’s total to four.

‘We looked at combinations of ‘play’ and ‘tech’ and other things but they were either boring or taken, so we came up with ‘Dragonfish’,’ said Levy.

‘It’s an ugly fish but in places like China it’s considered lucky.’

Levy revealed that 888 had 50 potential business-to-business partners in the pipeline. However, he stated that income for the first three months of 2009 would lag behind the longer fourth quarter even though trading for the first quarter had been stronger than in December with daily average revenues up by more than five percent.

‘This generates extra revenue,’ said Levy.

‘If we were only business-to-consumer, I would be concerned. People are spending less.’

888’s business-to-business activities include the provision of software, customer support and payment systems for companies wanting to offer poker and casino games. It takes a commission on wagers placed and earned around $35 million last year from 19 operations such as online bingo site FoxyBingo.com.

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