Daily news

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    Affiliate giant Catena Media has amended the terms of the second and final earn-out payment for its purchase of BayBets, the German sports betting affiliate it agreed to acquire in December 2017. This will see Catena take full control of the business earlier than expected, and for a lower price.

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    Sports wagering revenue in the regulated West Virginia market plummeted by around 148.2% month-on-month to $377,552 (£301,313/€336,205) in June, while total handle also dropped by 13%.

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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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    Portugal’s regulated online gambling market achieved a new record quarterly revenue of €47.3m (£42.4m/$53.4m) during the first three months of the year, primarily due to year-on-year growth across sports betting and casino.

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    Online betting and gaming technology provider GAN has seen trading in the second quarter of its financial year beat expectations, with seasonal decline in igaming revenue offset by the strong performance of clients’ sportsbook offerings.

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    Legal sports wagering revenue in Rhode Island fell 54.4% month-on-month to $899,165 in May, despite punters spending more on betting than in April.

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    Nevada’s sports betting handle rose 0.6% year-on-year to $317.4m in May, though the state's total gambling revenue for the month was down 6.0% to $981.8m.

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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 Pennsylvania sports betting market has reported a second consecutive month of decline, with revenue falling to 32.2% to $2.9m in May.

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    The Delaware Lottery has reported a second consecutive month-on-month decline in sports betting revenue in May, with consumers spending less on wagering.

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    Australian online sports betting operator PointsBet has raised AUS$75m (£40.9m/€45.9m/US$51.6m) after listing its shares on the Australian Securities Exchange (ASX). The operator said the move forms part of its growth plans, which include expansion in the US market.

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    Canadian provincial lottery operator Loto-Québec has reported a 3.1% year-on-year increase in revenue to CAD$2.83bn (£1.68bn/€1.89bn/US$2.12bn) for its 2018-19 financial year, with the contribution from its igaming offering growing to $105.4m.

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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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    JPJ Group has entered into a conditional agreement to acquire the majority of its technology partner Gamesys’ assets for a total consideration of £490m (€549.8m/$620.9m).

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    The New Jersey Division of Gaming Enforcement has reported a 27.1% year-on-year rise in regulated gaming revenue in May, aided by land-based and online casino growth. 

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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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    Regulated sports betting revenue in West Virginia rocketed by 69% month-on-month in May to $937,065 (£736,725/€827,996), while amounts wagered rose 4%.

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