Daily news

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    Asian casino operator Galaxy Entertainment Group (GEG) saw revenue for the six months to 30 June drop 76.3% with the operator expecting further headwinds from the ongoing impact of novel coronavirus (Covid-19) on its Macau venues.

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    Acroud - the affiliate marketing business formerly known as Net Gaming -  saw revenue drop by 10.5% to €6.8m in the first half of 2020 as casino declines offset poker growth while profits were halved by currency fluctuations.

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    Sweden-based gaming operator LeoVegas has reported a year-on-year increase in revenue and net profit for the first half of the year, after it was boosted by a record performance during the second quarter.

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    New Jersey’s sports betting revenue climbed 65.2% year-on-year in July, but the state’s land-based casino market saw further declines as it continued to feel the impact of novel coronavirus (Covid-19) restrictions.

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    GVC Holdings has reported an 11.2% year-on-year decline in revenue for the first half of 2020, after online growth failed to offset declines in UK and European retail resulting from the novel coronavirus (Covid-19) lockdown.

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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 year-on-year decline in revenue for Detroit’s three commercial casinos has widened to 65.0% as of July 31, the final full month the venues will be closed.

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    Canadian igaming operator and technology provider FansUnite Entertainment has completed the acquisition of white label solutions provider Askott Entertainment for CAD$27.8m (USD$20.7m) in FansUnite shares.

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    Twin River Worldwide Holdings saw revenue for the first half of 2020 fall 47.7% year-on-year,  becoming the latest listed US operator to outline the disruption caused by novel coronavirus (Covid-19) on its business.

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    Allied Esports Entertainment, the group that includes World Poker Tour (WPT), has reported a comprehensive loss of $10.9m (£8.3m/€9.3m) for the second quarter, after its revenue was hit by the novel coronavirus (Covid-19) shutdown of certain esports events.

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    Canterbury Park Holding Corporation, operator of Canterbury Park racecourse in Minnesota, has reported a $925,976 net loss for the first half of 2020, after it was forced to temporarily close the venue due to the novel coronavirus (Covid-19) pandemic.

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    Alibaba Group-owned lottery equipment supplier AGTech’s revenue for the first six months of 2020 came to HKD$43.9m (£4.3m/€4.8m/USD$5.7m), down 8.0% year-on-year, though the business reduced its losses for the period by 12.1%.

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    Korean casino and resort operator Kangwon Land’s revenue fell 63.5% to KRW270.64bn (£174.6m/€193.9m/$228.7m) in the first half of 2020, after its venues were open only to VIP customers for much of the second quarter of the year.

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    Gaming Innovation Group (GiG) has reported a year-on-year increase in revenue for the second quarter, primarily due to growth within its platform services arm.

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    The enlarged Gamesys Group has seen reported gaming revenue double year-on-year in the six months to 30 June, aided by record revenue from Asia.

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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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    Digital media giant InterActiveCorporation (IAC) has acquired a 12% stake in MGM Resorts International, describing the investment as a “once in a decade” opportunity.

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    The Horserace Betting Levy Board (HBLB) will accept applications for loans, intended to be used as emergency support to the British horseracing industry to help it to manage the novel coronavirus (Covid-19) pandemic, from 1 September.

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    The Betting and Gaming Council (BGC) has urged the UK government to extend its novel coronavirus (Covid-19) furlough scheme to help safeguard jobs in the gambling industry and also protect historic casino venues.

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    Lottotech, the operator of Mauritius’ national lottery, was able to remain in profit during the first half of 2020, despite the novel coronavirus (Covid-19) pandemic forcing it to suspend operations from 20 March.

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