Daily news

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    James Henderson, chief executive officer of William Hill, has cited the ongoing development of the bookmaker’s UK and international businesses as one of the main reasons behind a successful set of results for the 13 weeks through to September 30, 2014.

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    Greek gambling monopoly OPAP has reported better-than-expected results in the second quarter despite having been hit by a retroactive tax bill of €21.6 million ($28.5 million) in the period.

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    Irish bookmaker Paddy Power has cited the success of its sportsbook operation as the driving force behind a year-on-year jump in revenue during the six months through to June 30, 2014.

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    Ladbrokes revealed that its online business generated only £3 million (€3.8 million/$5 million) in operating profits in the first half of 2014 as the UK bookmaker confirmed that pre-tax profits had halved year-on-year in the six months through to the end of June.

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    UK bookmaker William Hill has reported an increase in revenue thanks to betting on football’s Fifa World Cup, but a slight dip in operating profit, for the first six months of 2014.

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    US horseracing and casino operator MTR Gaming Group has announced that its stockholders have approved a merger agreement with Eldorado HoldCo, the parent company of US gaming property operator Eldorado Resorts.

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    UK bookmaker William Hill has set a revenue target of £200 million (€245.9 million/$334.6 million) for this summer’s Fifa World Cup national team football tournament, which is due to kick off in Brazil next week.

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    Stars in their eyes

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    A joint report by University Paris 1 Pantheon Sorbonne and the International Centre for Sports Security (ICSS) has revealed that illegal sports betting is responsible for laundering $140 billion (€102.4 billion) of money, accounting for 80% of all betting on sport.

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    Pools and sports betting operator Sportech is to target more growth in the US after making advances in its “key strategic initiatives” in the market during the period from January 1 until May 13, 2014.

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    Italian retail and online sports betting operator Sindacato Nazionale Agenzie Ippiche (SNAI) has cited a decrease in revenues from sports bets, horse racing bets and amusements with prizes as the main causes behind a slight dip in total revenue during the three months to March 31, 2014.

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    Irish bookmaker Paddy Power has announced that Patrick Kennedy is to stand down from his position as the group’s chief executive in April 2015.

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    Bookmaker Ladbrokes said that despite having suffered a year-on-year drop in group operating profit during the three months to March 31, 2014, it was still able to deliver all of its “stated operational targets” either on time or ahead of schedule. 

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    UK bookmaker William Hill has cited two “substantial” loss-making weeks driven by football results as one of the main reasons for a year-on-year drop in profit during the three months to March 31, 2014.

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    Specialist horseracing channel Turf TV, a joint venture between 34 leading UK racecourses, is targeting further growth after achieving what it described as “significant” progress during the 12 months to December 31, 2013.

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    US horseracing and casino operator MTR Gaming Group has reported that despite negative results in the fourth quarter, it was able to post an increase in full-year revenue for the 12 months through to December 31, 2013.

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    John Boyle, founder, owner and chief executive officer of Irish independent bookmaker Boylesports, has completed the purchase of the firm’s headquarters at Finnabair Business Park in Dundalk.

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    Irish bookmaker Paddy Power has cited the growth of its online gambling business as the reason behind a jump in revenue, operating profit and EBITDA during the 12 months through to December 31, 2013.

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    Bookmaker William Hill has cited the success of its multi-channel betting service as the reason behind an increase in revenue during the 12 months through to December 31, 2013.

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    Ladbrokes has confirmed that it will be closing 40-50 betting outlets in the near future as it looks to optimise its retail estate in “secondary locations”.

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