Tag Archives: Ace2Three
- India’s online gambling woes leave Clairvest Group with $9M net loss
August 16, 2017
Canadian private equity fund Clairvest Group has reported a net loss of C$11.6 million (US$9.1 million) for first quarter of fiscal 2018, courtesy of potential losses in its investment in Indian online rummy company Ace2Three. In April, the Toronto-based company and its partners acquired a majority stake in Head Infotech,...
- Fresh ordinance now bans betting on all games of skill in Telangana
July 11, 2017
The government of Telangana has come up with a new ordinance against online gambling, even though the state’s High Court is still deliberating its previous gaming decree. Over the weekend, the Telangana Cabinet issued the fresh decree amending the Telangana State Gaming (Amendment) Ordinance, 2017, which was issued several weeks...
- Ace2Three gets partial relief as court weigh in on Telangana gaming ordinance
June 29, 2017
A division bench of the Andhra Pradesh and Telangana High Court has given Indian rummy sites the green light to continue their operations—albeit with restrictions—as the court continues to deliberate on Telangana’s new gaming ordinance. On Thursday, GLaws.in reported that the High Court ruled that rummy companies based in Telangana...
- Ace2Three gets on fantasy sports train with Fan Fight investment
June 16, 2017
Indian rummy website Ace2Three is planning to invest INR10 million ($155,195.50) in real-money fantasy sports portal Fan Fight, which is launching soon. On Friday, GLaws.in reported that Head Infotech Pvt. Ltd. founder and CEO Deepak Gullapalli has paid INR2.5 million ($38,798.87) for 2,500,000 Series A preference shares in the Gurgaon-based...
- Rummy portal Ace2Three eyes global expansion after $73.7M sale
May 1, 2017
Head Infotech Pvt. Ltd., the company that operates Indian rummy website Ace2Three, has found a new owner to help with its global expansion plans. Canadian private equity fund Clairvest Group and its foreign partners announced over the weekend that they have acquired a majority stake in Head Infotech for an...
- Canadian group in talks to acquire Indian rummy site Ace2Three
April 12, 2017
A consortium of foreign funds led by a Canadian private equity fund is reportedly negotiating to acquire Head Infotech Pvt. Ltd., which operates Indian rummy website Ace2Three.com. The deal will cost Clairvest Group Inc. and its foreign partners between INR590-650 crore (around US$90-100 million), according to GLaws.in's Jay Sayta, quoting...
India’s Supreme Court taking another look at sports betting
April 28, 2017
Law panel leans towards regulating gambling in India
March 20, 2017