Daily news

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    The Colorado Department of Revenue has reported a 20.8% month-on-month decline in sports betting revenue in the state during August, despite its handle more than doubling to $128.6m.

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    Betting technology supplier Sportech's losses widened five-fold in the first half of 2020 as the impact of the novel coronavirus (Covid-19) led to a 38.7% drop in revenue to £20.2m (€22.2m/$26.3m).

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    The Hong Kong Jockey Club (HKJC) has reported declines in revenue and turnover for its 2019-20 fiscal year, though management hailed the business’ resilience after it managed to avoid race cancellations over the period.

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    The significant expansion and diversification of Flutter Entertainment’s operations through its acquisition of The Stars Group helped the operator mitigate the disruption caused by novel coronavirus (Covid-19) in the first half of the year.

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    British operator Betfred has made an offer to purchase struggling South African racing operator Phumelela for between ZAR875m and ZAR925m (£39.6m-£41.9m/€44.2m-€46.7m/$52.1m/$55.0m).

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    France Galop, the governing body for the country’s flat and steeplechase racing sector, says that while proceeds from betting on racing will be down year-on-year, it has been encouraged by growth in the sector from June onwards. This growth, it noted, had prompted horse race betting operator Pari-Mutuel Urbain (PMU) to raise its full-year profit forecasts.

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    Denmark’s regulated gambling revenue fell 19.2% year-on-year in the first half of 2020, after novel coronavirus (Covid-19) slashed land-based gaming and sports betting’s contribution in the second quarter.

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    Sweden’s AB Trav och Galopp says that the suspension of sporting events as a result of novel coronavirus (Covid-19) in the first half of 2020 benefitted its performance, as customer attention shifted to its core horse race betting product.

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    South African racing operator Phumelela Gaming and Leisure Group has published its business rescue plan, which could see it sell its horse racing business as it struggles with debts of up to ZAR1.17bn.

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    The British Horserace Betting Levy Board (HBLB) has agreed to provide an additional £3.2m in immediate and short-term funding to help the racing industry navigate the novel coronavirus (Covid-19) crisis.

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    The Indiana Gaming Commission has reported the strongest month for the state’s sports betting market since February, with revenue and handle both soaring in July.

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    William Hill has reported a 31.7% year-on-year decline in revenue for the first half of its financial year, though a £230.7m value added tax (VAT) refund allowed the operator to post a £115.6m net profit for the period.

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    The British Horseracing Authority (BHA) has announced that it plans to increase minimum prize money levels from September, with the appearance money scheme, designed to deliver more value for mid- and lower-tier trainers also set to resume that month.

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    La Française des Jeux (FDJ) said a strong performance after France emerged from its novel coronavirus (Covid-19) lockdown has reduced a decline in revenue for the first half of the operator’s financial year.

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    Betting technology supplier Sportech says efforst to reduce operational costs in the first half of its fiscal year helped to partially offset a “severe” decline in revenue, caused by the novel coronavirus (Covid-19) pandemic.

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    France’s igaming market showed little signs of the impact of novel coronavirus (Covid-19) in the first quarter of 2020, with L’Autorité de régulation des jeux en ligne (ARJEL) warning that the full impact would be seen in subsequent quarters.

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    Exclusive data from H2 Gambling Capital lays bare the decline in British betting and gaming gross win as a result of novel coronavirus (Covid-19), though iGB's principal data partner suggests the igaming sector should help the sector rebound.

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    British industry body The Betting and Gaming Council has written to the Chancellor of the Exchequer after the gambling industry was excluded from all forms of business rate relief intended to ease the impact of the novel coronavirus (Covid-19) pandemic.

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    New York’s four commercial casinos have reported losses of $179,593 from sports betting in February, with del Lago the only venue to actually generate revenue during the month.

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    Sweden’s AB Trav och Galopp (ATG) posted the highest full-year revenue in the company’s history in 2019, though a decline in its core racing vertical and Sweden’s new gaming taxes hit operating profit for the year.

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