Daily news

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    Online gaming revenue generated by operators across the European Union (EU) in 2018 amounted to €22.2bn (£18.7bn/$24.6bn), with the market expected to grow to almost €30bn by 2022.

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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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    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 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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    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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    Fortuna Entertainment Group has cited the impact of its ongoing growth strategy as the main reason behind financial success in the first quarter

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    GVC’s takeover of Ladbrokes Coral has overcome its final hurdle after the deal was approved by the UK’s High Court

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    Fortuna Entertainment has said the performance of its online businesses helped drive growth across key financials in the nine months to September 30

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    Per Widerström, chief executive and chairman of Fortuna Entertainment, has paid tribute to the company’s performance in 2016, after preliminary results showed double-digit growth in customer stakes.

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    Fortuna Entertainment has reported “strong growth” in the opening nine months of the year, despite being hit by an increase in betting tax in the Czech Republic.

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    Interwetten has highlighted growth across its sports betting and casino and games businesses as revenue increased year-on-year in the three months through to September 30.

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    Fortuna Entertainment has cited the impact of its growing online sports betting business as the main reason behind a “robust performance” in the six months to June 30.

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    Paddy Power Betfair (PPB) said that restructuring related to its merger is “largely complete” as it reported double-digit growth in revenues and profits for the first half of 2016.

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    Per Widerstrom, chief executive of Fortuna Entertainment, said the firm was able to deliver “strong growth” during the opening quarter of the year, after reporting increases in gross win and the amount staked by customers.

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    Fortuna Entertainment Group has cited its performances in the third and fourth quarters of the 12-month period to December 31, 2015, as key reasons behind full-year growth across the business.

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    Fortuna Entertainment has cited the impact of growth within its mobile and online betting businesses as the main drivers behind a year-on-year increase in revenue during the nine months through to the end of September.

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    Fortuna Entertainment has cited a strong demand for its online sports betting services as one of the main reasons behind a year-on-year increase in gross win during the first half of 2015.

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    Central and Eastern European betting operator Fortuna Entertainment has cited an increase in online betting activity as one of the main reasons behind a year-on-year jump in gross win during the first quarter of 2015.

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    Central and Eastern European online betting operator Fortuna Entertainment has announced that it will not pay out any dividend this year.

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