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    French gaming operator La Française des Jeux (FDJ) has secured approval from the country’s stock market regulator to proceed with its initial public offering (IPO), in a move that marks the first step towards the privatisation of the business.

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    The Kenyan government's struggles with the country's betting and gaming industry will hit mobile network operator Safaricom's revenue, with the contribution from its M-Pesa mobile payments solution set to decline, according to analysts for investment bank Genghis Capital.

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    Board members at Flutter and The Stars Group further outlined the details of the synergies from the companies’ mega-merger, while also assuring stakeholders that the deal would pass any competition-related hurdles.

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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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    Australian operator Tabcorp has rejected claims by Racing Queensland that its UBET subsidiary was not entitled to withhold AU$11m (£6.2m/€6.9m/US$7.7m) in response to a new point of consumption tax in the state.

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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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    The Oregon Lottery has revealed that it expects to generate $141.2m in revenue over the first three years following the launch of its SBTech-powered retail and mobile sportsbook. 

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    The Gaming and Lotteries (Amendment) Bill 2019, Ireland’s placeholder legislation for the country’s betting and gaming sector, has progressed to the committee stage in the Dáil Éireann. Meanwhile Minister for Finance Paschal Donohoe has confirmed that work on an alternative tax system for independent bookmakers to replace the 2% turnover tax is ongoing.

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    Five of the UK’s leading sports betting operators have voluntarily agreed to increase funding for problem gambling treatment and safer gambling.

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    The Kenyan Government has set out plans to introduce a new 10% tax on sports betting stakes as part of a wider effort to clamp down on problem gambling in the country.

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    Land-based and online betting and gaming operator Betfred has posted a loss of £40.7m for its financial year ended September 30, 2018.

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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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    The Czech Republic’s Ministry of Finance has confirmed that it will increase the tax rate on certain gambling activities in the country from January 2020. Taxes will be split into three levels, according to how harmful the government perceives the activity to be.

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    The New Zealand government has confirmed it is to repeal the current betting levy on the country’s racing industry, with plans in place to phase this out over the next three years.

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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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    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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    Sweden’s newly regulated igaming market has generated total turnover of SEK3.29bn (£271.3m/€313.8m/$352.8m) in the first quarter of the year, with former horse racing monopoly AB Trav och Galopp (ATG) dominating the channel. Svenska Spel Sport & Casino and ATG accounted for 50% of online market turnover over the three month period.

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    The European Gaming and Betting Association (EGBA) has called on the Portuguese authorities to review the country’s online gaming tax rate following reports that as many of 75% of players gambled via unlicensed sites in 2018.

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    Incoming Illinois Governor J.B Pritzker has raised hopes of legal sports betting in the state after including $200m in future tax revenue from wagering activities in his 2020 budget proposal.

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    Playtech has reported a 54% year-on-year increase in revenue for 2018, though growth for the year was largely down to the acquisition of Italian operator Snaitech, with the solutions giant’s B2B division struggling.

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