Daily news

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    Businesses across the gambling industry continue to see the effects of the novel coronavirus disease (Covid-19), with several issuing trading updates on how the pandemic may affect their earnings.

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    Ladbrokes Coral and bwin.party operator GVC Holdings has estimated that the suspension of all horse racing in the UK until the end of April will lead to an earnings decline of £20m-£25m, on top of yesterday’s (16 March) reduced earnings guidance.

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    Share prices across the gambling industry have plummeted as concern over the effects of the novel coronavirus disease (Covid-19) have led to sharp declines in the market as a whole.

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    GVC Holdings has revealed that its earnings before interest, tax, deprecation and amortisation (EBITDA) for the current year could be reduced by up to £150m (€166.1m/$184.6m) if certain sports events are to be suspended as a result of the novel coronavirus (Covid-19) pandemic.

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    The Stars Group has revealed that it has performed ahead of expectations so far in the current quarter, but warned that the outbreak of novel coronavirus (Covid-19) could have a material impact on sports betting revenue in the near term.

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    Flutter Entertainment, the parent company of Paddy Power Betfair and FanDuel, has warned that the cancellation of sports events around the world due to the global Covid-19 pandemic could lead to a £110m (€121.3m/$136.0m) decline in earnings before interest, tax, depreciation and amortisation (EBITDA).

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    The New Jersey Division of Gaming Enforcement (NJDGE) has reported a year-on-year increase in revenue across all market sectors in February, despite the sports betting sector reporting a significant month-on-month decline.

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    Finnish state-owned gambling operator Veikkaus has reported a year-on-year decline in both gross gaming revenue and profit for 2019, due in part to new social responsiblity measures implemented  restrictions it imposed to protect customers gambling online.

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    Commercial casinos in Detroit, Michigan, generated $121.7m in revenue during February, a year-on-year increase of 6.3%.

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    Iowa has reported net receipts of $755,334 from its sports betting licensees in February, down 76.6% month-over-month, after losses in the retail channel offset marginal growth in online revenue. 

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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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    Betclic Everest Group’s Central Europe-facing subsidiary Bet-at-Home brought in revenue of €143.3m in 2019, almost exactly level with its 2018 total, while back taxes in Austria hit the operator's full-year profit.

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    The Swedish Gaming Authority (Spelinspektionen) has revealed that licensed operators in the country generated revenue of SEK24.8bn (£2.03bn/€2.34bn/$2.62bn) in 2019.

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    Latvian gambling regulator the Lotteries and Gambling Supervisory Inspection (IAUI) has reported a 10.5% year-on-year increase in gross gambling revenue for 2019, due in part to significant growth within the igaming sector.

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    International Game Technology (IGT) has announced a lower net loss in 2019, despite reporting a year-on-year decline in consolidated revenue for the year.

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    Oregon’s state-run sportsbook, Scoreboard, is set to lose more than $5m for the first nine months of the state's fiscal year.

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    Atemi has set an increased revenue target for 2020 after it posted better-than-expected results for 2019, while the online gaming affiliate has also launched a new flagship comparison site in the UK and US.

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    Danish government-owned operator Danske Spil recorded a record-high profit in 2019 despite a dip in revenue, as the sale of game developer CEGO boosted its bottom line.

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    Sports wagering revenue in Nevada climbed 36.0% year-on-year to $20.2m (£15.8m/€18.2m) in January, while statewide casino gaming revenue was also up 5.5% to $1.04bn.

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    Rhode Island’s sports betting market saw revenue soar in January 2020 thanks to a strong performance from the Twin River casino in Lincoln.

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