Daily news

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    GVC Holdings has reported an 11.2% year-on-year decline in revenue for the first half of 2020, after online growth failed to offset declines in UK and European retail resulting from the novel coronavirus (Covid-19) lockdown.

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    The British Horserace Betting Levy Board (HBLB) has agreed to provide an additional £3.2m in immediate and short-term funding to help the racing industry navigate the novel coronavirus (Covid-19) crisis.

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    The Indiana Gaming Commission has reported the strongest month for the state’s sports betting market since February, with revenue and handle both soaring in July.

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    Gaming solutions giant Playtech expects earnings for the first half of 2020 to reach €160m, after a strong performance from its online and financials divisions helped offset novel coronavirus’ (Covid-19) disruption to retail and sports in the period.

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    William Hill has reported a 31.7% year-on-year decline in revenue for the first half of its financial year, though a £230.7m value added tax (VAT) refund allowed the operator to post a £115.6m net profit for the period.

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    Australian gambling operator Tabcorp expects to post a year-on-year drop in net profit after tax for its 2020 financial year, primarily due to the impact of the novel coronavirus (Covid-19) pandemic on its business.

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    The British Horseracing Authority (BHA) has announced that it plans to increase minimum prize money levels from September, with the appearance money scheme, designed to deliver more value for mid- and lower-tier trainers also set to resume that month.

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    La Française des Jeux (FDJ) said a strong performance after France emerged from its novel coronavirus (Covid-19) lockdown has reduced a decline in revenue for the first half of the operator’s financial year.

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    The New South Wales Independent Liquor & Gaming Authority (ILGA) has put in place a number of temporary measures for gaming machines in an effort to help venues in the Australian state impacted by the novel coronavirus (Covid-19) pandemic.

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    Newgioco Group has reported a year-on-year rise in revenue for the first quarter, while the betting and gaming operator and supplier was also able to return to a net profit during the period.

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    The Betting and Gaming Council (BGC) has warned the Scottish government that thousands of jobs in the gambling sector are at risk unless it grants business rates relief to betting shops in the country.

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    GVC Holdings has reported an 11% year-on-year decline in revenue for the first half of 2020, though outgoing chief executive Kenneth Alexander hailed the strong performance of the operator’s online business during the period.

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    Sports betting and interactive gaming company Newgioco Group has reported an increased comprehensive loss in 2019, despite experiencing a year-on-year rise in revenue for the year.

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    An end-of-quarter exchange rate adjustment offset a further downgrade in H2 Gambling Capital’s 2020 forecast for the pandemic-hit global gambling sector this week.

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    New figures released by the Polish Ministry of Finance reveal that while the country has seen gambling revenue decline for the year to date, newly regulated products helped mitigate falls in online betting and land-based gaming.

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    Betting technology supplier Sportech says efforst to reduce operational costs in the first half of its fiscal year helped to partially offset a “severe” decline in revenue, caused by the novel coronavirus (Covid-19) pandemic.

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    A new survey by the UK government reveals that gambling businesses are split over whether they can withstand the disruption caused by novel coronavirus (Covid-19), though a significant number of respondents reported revenue being wiped out by lockdown.

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    Credit rating agency Standard & Poor's (S&P) Global has downgraded Codere for the fourth time in eight months, stating that the operator is at serious risk of defaulting on its debts in the coming six months.

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    William Hill has seen revenue for the 23 weeks to 9 June fall 32% year-on-year, though the operator claims that recent weeks have shown the business recovering strongly from the disruption caused by novel coronavirus (Covid-19).

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    The Betting and Gaming Council (BGC) has revealed that its five largest members will spend £100m (€111.4m/$125.4m) on improving treatment services for problem gamblers in the UK.

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