News in brief: LCG results delayed; Rank; Tipp24...
The London Capital Group has delayed issuing its 2010 results, following last week's ruling from the Financial Ombudsman Service.
The London Capital Group (LCG) has delayed issuing its 2010 results, which had been due out today. The delay comes just days after a ruling from the Financial Ombudsman Service (FOS) opened up the possibility of the spread-betting company being forced to pay up to £7.7m over an alleged failed fund. The firm said that “it has become necessary to delay the release of the company’s 2010 results for a short time until the level of provision [for liability related to the FOS decision] is determined.”
Mike Smith, a non-executive director with Rank Group, has announced his resignation from the company’s board after 11 months in the role. Smith, who will also step down from his role as finance director of Clermont Leisure, will leave Rank on 30 April.
Tipp24 chairman Klaus Jaenecke is to step down from his position after the German lottery provider’s Annual General Meeting in June. Jaenecke has been on the board since 2005, and will leave on the back of the company announcing record yearly earnings.
888poker has launched a new pokercam feature allowing online players to play face-to-face through webcams. Pokercam tables are separate from other tables in 888’s lobby. The feature is currently only available for cash games.