Daily news

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    Playtech is searching for a new chairman to replace Alan Jackson, who will leave the business, the company announced today at its annual general meeting.

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    Codere has again cited the devaluation of the Argentine Peso as the main reason behind a year-on-year decline in revenue during the first quarter, despite seeing growth across its Mexican, Italian, Spanish and online operations.

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    Venture capital fund Vereeni Investments has acquired a “significant” stake in Flax Innovations. Vereeni has made an initial “six-figure investment” in return for an equity stake in the Swedish company.

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    Online gaming solutions provider Aspire Global has agreed to support NEG Group with the relaunch of its recently acquired Digibet brand. Aspire will buy $2m shares in NEG as part of the arrangement.

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    Swedish operator Betsson has become the exclusive European betting partner for Alfa Romeo Racing Formula 1 team.

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    French betting operator France Pari Group has cited the success of B2B arm Sportnco as the main driver behind a year-on-year increase in both revenue and earnings during the first quarter of 2019.

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    Happy Friday igamers! This week we do the sums on where good causes money is going in Ireland, ponder an odd image and say farewell to the man who threw the industry into disarray with his reinterpretation of the Wire Act.

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    Unibet operator Kindred Group has reported an 8.0% year-on-year rise in revenue for the first quarter of 2019, though has seen earnings impacted by costs associated with its launch in Sweden’s newly regulated igaming market.

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    Gaming platform and services provider Nektan has reported a 5.9% year-on-year increase in revenue for the third quarter of its financial year, though noted that performance in the period was impacted by a number of factors.

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    888 Casino has struck a partnership with online gaming content provider Microgaming, with the product roll-out set to commence in the UK.

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    Happy Friday igamers! This week we take a leaf out of William Hill's books, hear why operators are disgruntled about Sweden and ponder the prospects of another lottery innovator Down Under

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    Digital performance marketing solutions provider XLMedia has reported a 14.4% decrease in revenue for 2018, which it attributed to a number of regulatory issues impacting performance over the year.

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    London-listed Sportech has described 2018 as a challenging year for the business, which resulted in revenue declining 3.9%, though highlighted the success of cost control efforts that helped the business cut losses for the period.

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    Industry trade group the European Gaming and Betting Association (EGBA) has urged the European Union (EU) to introduce a ‘common rulebook’ of iGaming regulations in order to better protect consumers across the continent.

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    Online gaming software supplier Bede Gaming has been accepted as an associate member of the European Lotteries Association.

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    This week we dig deep into the real and fictional pasts of those in the news of late, applaud a politician who can see past the lottery monopoly agenda and consider the FT’s message of doom for the industry

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    International Game Technology (IGT) has reported a 2.2% year-on-year decline in revenue for 2018, though a reduction in operating costs and foreign exchange gains helped the supplier cut its full-year loss to $21m (£16.0m/€18.7m).

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    GVC Holdings chief executive Kenneth Alexander has credited excellent operational execution, effective marketing and a good World Cup for helping drive growth in the operator’s 2018 results.

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    William Hill reaffirmed its goal of doubling profits by 2023, despite reporting a £721m loss for 2018. Its strategy, first outlined at its capital markets day in November last year, is centred around three areas: driving digital growth in the UK and internationally; growing a business of scale in the US; and remodelling UK retail.

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    William Hill has posted a £721.9m (€840.3m/$955.8m) pre-tax loss for 2018, as a result of an £882.8m write-down of the value of its retail business ahead of maximum B2 machine stakes being cut to £2 from April. Despite this, the operator hailed good underlying progress achieved over the year, with 2018 revenue up 2% year-on-year to £1.6bn.

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