Daily news

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    Sports wagering revenue in West Virginia climbed in October as operators in the state were boosted by an increased usage of mobile betting platforms.

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    Sweden-based, Baltic-facing operator Enlabs posted record revenue for the third consecutive quarter, breaking the €10m(£8.6m/$11.1m) barrier for the first time.

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    Sports betting solutions provider Kambi Group has reported a year-on-year rise in revenue for the third quarter, but saw its operating profit decline as a result of higher spending related to its US expansion efforts.

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    Licensed sportsbook operators in Pennsylvania generated collective revenue of $14.9m (£11.5m/€13.4m) in the second full month of regulated sports wagering, while interactive gaming revenue in September amounted to $5.3m.

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    Pari-Mutuel Urbain (PMU) has reported a 1.8% year-on-year decline in revenue for the third quarter, despite experiencing ongoing growth within its French horse racing betting business.

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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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    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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    Sports betting revenue in New Jersey was up 174.0% year-on-year in August, while the US state also saw revenue increases within its online gambling and land-based casino markets.

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    US expansion costs have led to a significant increase in PointsBet's net loss for its financial year ended 30 June, though the Australian online sports betting operator was able to more than double revenue for the period.

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    Increased B2C revenue resulting from Playtech’s 2018 acquisition of Italy’s Snaitech offset a decline in B2B revenue for the gaming solutions giant in H1, though the deal also resulted in increased depreciation and amortisation, and financial costs, which hit profits.

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    Operators in Pennsylvania handled a record $59.3m on sports bets in July as the online sportsbook handle doubled to $39.0m and overtook retail figures for the first time.

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    GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm.

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    New Jersey’s regulated sports betting market has seen revenue leap to $17.9m in July, complementing slower growth from the state’s land-based and online casino verticals.

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    Australia’s Tabcorp has reported revenue of AUD$5.5bn (£3.08bn/€3.32bn/$3.71bn) for its financial year ended 30 June, 2019, strong growth in lottery revenue offsetting a decline in revenue from its Wagering & Media division over the year.

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    Online betting and gaming technology provider GAN has cited ongoing growth in the US sports betting and igaming markets as the main driver of a 128.3% year-on-year increase in revenue during the second quarter.

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    France’s online gaming market has reported a 20.1% year-on-year increase in revenue for the first half of 2019, after the sports betting vertical grew strongly over the period.

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    French gaming operator La Française des Jeux (FDJ) has reported a 5.5% year-on-year increase in revenue for the first half of the year, with chief executive Stéphane Pallez crediting the FDJ 2020 digital transformation strategy as driving growth.

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    Sports betting solutions provider Kambi has reported a 25.3% year-on-year increase in revenue for the first six months of 2019, with the business boosted by its customers launching in Pennsylvania’s online wagering market.

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    Swedish state-owned gaming business Svenska Spel has seen profits hit by increased regulatory costs in the first half of the year, though the operator noted that customer growth and revenue had recovered during the second quarter.

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    Land-based casino win helped push revenue in the regulated New Jersey gambling market up month-on-month to $283.8m (£225.7m/€251.6m) in June, despite the state seeing declines in both sports betting and online gaming revenue.

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