Online Casino Journal News

Sportalnet buys Casinò di Venezia

December 1

Online casino players will be interested to know that a Maltese registered online casino betting company will be the new owners of the Casinò di Venezia.

The Director of the online casinos company is Orlandi Fernandi from Lecce. Sportalnet is effectively owned by International Trust Ltd, a company whose shareholders include former Nationalist MP George Hyzler, Rodney Lee Berger and lawyer Simon Tortell.

Tortell is already a shareholder in the Vittoriosa Gamings Ltd which holds the concession to operate the Casinò di Venezia casino.

Until this latest development, the principle and only other shareholder in this company was the municipality of Venice. Despite the sale of shares, the concession will still be in the hands of Vittoriosa Gamings Ltd as the sale will only involve a transfer of shares from the Venetians to Sportalnet.

Sportalnet will be offering 6.6 million (Euro) to buy a 60% share of Vittoriosa Gaming Ltd. This payment transfer will take place over the next couple of years. After thge payment for the initial 60% of the company is finalized, an additional payment structure for the remaining 40% of the company will take place.