Daily news

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    Flutter Entertainment, the parent company of Paddy Power Betfair, has agreed a deal to acquire all of the shares in The Stars Group and merge with the operator to form a combined business with annual revenue of £3.8bn (€4.3bn/$4.7bn).

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    State-wide gambling revenue in Pennsylvania amounted to $3.29bn in the 2018-19 financial year as the introduction of legal sports betting and higher income from slots gaming boosted the state .

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    Online betting and gaming technology provider GAN has said that stronger-than-expected demand for its sports betting services in the US helped to drive gross operator revenue up 202.7% year-on-year during the third quarter.

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    The Rhode Island Lottery has reported a month-on-month increase in sports betting revenue in August after punters spent over $10m (£8.1m/€9.2m) on legal wagering during the month.

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    Nevada’s sportsbook handle for the month of August remained behind New Jersey for August, despite a 22.1% increase to $287.8m, while overall casino revenue slipped back below $1bn at $952.4m.

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    Betting exchange operator Smarkets slipped to a pre-tax loss of £8.9m (€10.0m/$11.0m) in the 12 months ended December 31, 2018, despite recording a sharp increase in trading volume for the period.

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    JPJ Group, owner of the JackpotJoy brand, has completed the £490m acquisition of a number of assets from its long-term technology partner, and will begin a new era as Gamesys Group from tomorrow (27 September).

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    Problem gambling funding body GambleAware has partnered the University of Bristol on a new research project examining how UK banks and other financial services organisations can help people suffering with or are at risk of gambling-related harm.

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    Gaming Realms has put an 18% year-on-year rise in revenue primarily down to growth within its licensing division, while the mobile games developer was also able to cut its pre-tax loss in the period.

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    Venture capital fund Vereeni Investments has acquired a stake in India-facing fantasy sports operator Nostragamus for an undisclosed, seven-figure sum.

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    XLMedia has put a 10% year-on-year decline in revenue during the first half of the year primarily down to regulatory headwinds, while the digital marketing service provider also saw gross profit slip 9% in the period.

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    The GB Gambling Commission has given its approval to Rank Group’s proposed acquisition of online casino and bingo operator Stride Gaming. The bid, tabled in May, values Stride at £115.3m (€130.6m/$143.6m).

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    The UK’s Competition and Markets Authority (CMA) has given its approval to Inspired Entertainment’s proposed acquisition of Gaming Technology Group (GTG), a division of Austrian gaming equipment and solutions giant Novomatic’s UK subsidiary.

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    Gambling operator Betsson has placed SEK1bn (£82.3m/€93.4m/$103.3m) in senior unsecured bonds, attracting interest from a number of large institutional investors throughout the Nordic region.

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    Affiliate marketing giant Better Collective has purchased a 19.99% stake in gambling intelligence software solutions provider Mindway AI for DKK4m (£471,688/€535,718/$592,728).

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    White label and gaming content provider Nektan has announced plans to raise £3.0m in working capital, as well as restructuring existing loan agreements, warning the business requires new funding to continue as a going concern.

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    Skyrocket Entertainment has selected The Games Company (TGC) as the studio to bring its movie-themed titles to market after acquiring the supplier from BlockChain Innovations.

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    Mateusz and Zbigniew Juroszek, the owners of Polish bookmaker STS Gaming Group, has purchased 140,000 shares in affiliate marketing giant Better Collective for approximately €1m (£889,773/$1.1m).

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    Czech lottery and gaming giant Sazka Group has reported a 6% year-on-year increase in gross gaming revenue to €908.5m for the first half of 2019, while profit for the period was boosted by the sale of its Croatian business to Emma Capital.

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    Licensed operators generated $2.2m in revenue from the first sixteen days of legal wagering in Iowa, with the William Hill-powered offering at the Prairie Meadows Racetrack and Casino leading the market over the period.

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