Daily news

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    Pennsylvania’s regulated sports betting market saw handle grow beyond $300m for the first time in November, thanks to a soaring mobile contribution, while online casino benefitted from a leap in table games stakes.

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    The newly formed Gamesys Group has reported a 22.9% year-on-year increase in revenue for the third quarter of the year, aided by a turnaround in the operator’s Jackpotjoy operating division.

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    Bragg Gaming Group has reported revenue of CAD$10.0m for the third quarter of 2019, while starting tomorrow, the business will have a new finance chief as bwin.party veteran Stephen Prowse takes over the role from Ashkay Kumar.

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    Denmark’s regulated gambling market has reported a marginal year-on-year decline in revenue, with declines in revenue from land-based gaming machines and sports betting offsetting growth in online casino.

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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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    Austrian gaming giant Novomatic has reported a 1.8% year-on-year fall in revenue for the first half of its financial year, with changes to gaming regulations in core markets such as Germany and Italy blamed for the decline. This led to significant increases in depreciation and amortisation, which drove down profit for the period.

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    Toronto-listed gaming operator and supplier Bragg Gaming has launched a strategic review of its online media division, comprising its GiveMeSport and GiveMeBet assets, with a view to selling off the unit to focus on B2B operations.

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    Pennsylvania’s licensed operators have generated revenue of $812,306 in the first sixteen days following the opening of the state’s regulated igaming market, with customers wagering almost $50m.

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    Inspired Entertainment saw revenue fall $10.2m (£8.4m/€9.1m) in the second quarter of its financial year, with the decline blamed on the UK government’s decision to reduce maximum B2 machine stakes to £2. The supplier posted a net loss of $10.7m for the period.

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    A syndicate of eight investment banking groups have been selected to work on the privatisation of French state-owned gaming operator La Française des Jeux (FDJ).

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    JPJ Group has entered into a conditional agreement to acquire the majority of its technology partner Gamesys’ assets for a total consideration of £490m (€549.8m/$620.9m).

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    The New Jersey Division of Gaming Enforcement has reported a 27.1% year-on-year rise in regulated gaming revenue in May, aided by land-based and online casino growth. 

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    Revenue from regulated gambling in the Czech Republic fell 21.3% in 2018 to CZK31.3bn (£1.1bn/€1.2bn/$1.4bn), with the decline down to a lower contribution from slot machines.

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    William Hill has reported a 2% increase in revenue for the first 17 weeks of the year, despite suffering a like-for-like drop in revenue for its online arm and a decline in its retail business.

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    Inspired Entertainment has reported a 10.1% decline in revenue for the first quarter of 2019, the result of a dip in the performance of its server-based gaming (SBG) division.

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    New figures from the Swedish Tax Authority and gaming regulator Spelinspektionen suggest that net gaming revenue for Sweden’s land-based and online gaming market amounted to SEK6.0bn (£479.9m/€559.0m/$626.0m) in the first quarter of 2019.

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    LeoVegas has reported an 11.6% rise in revenue for the first quarter of 2019, though growing costs saw the Stockholm-listed gaming operator post a €31,000 (£26,611/$34,757) loss for the period.

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    Paddy Power Betfair has reported a 17% year-on-year increase in revenue for the first quarter of 2019, with strong growth in its US and Australian operations offsetting a decline in online sports betting revenue.

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    Nevada’s licensed sportsbooks generated total handle of $596.8m in March, setting a new record for amounts wagered in a month where basketball dominated the market.

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    Swedish gaming operator Svenska Spel has reported a 5.9% decline in net gaming revenue for the first quarter of 2019, with growth in the new Sport & Casino igaming division offset by struggles in its lottery and land-based gaming units.

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