Daily news

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    Shareholders of Roar Digital, the joint venture between MGM Resorts and GVC Holdings, have committed to a second round of investment in the business, bringing its total funding to $450m.

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    Gaming solutions giant International Game Technology (IGT) has announced a new organisational structure that focuses the business on two key segments.

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    Flutter Entertainment announced plans to accelerate US expansion and reduce debt through an equity placement that raised £812.6m, after revealing a 10% rise in revenue for the first 47 days of its second quarter.

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    Swedish gaming operator LeoVegas has reported a 3.6% year-on-year rise in revenue for the first quarter of 2020, aided by growth the Nordic region offsetting a decline in revenue from the rest of Europe.

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    Sweden’s former horse racing monopoly operator AB Trav och Galopp (ATG) has reported a 10.7% year-on-year increase in net gaming revenue for the first quarter of 2019 to SEK1.11bn (£89.0m/€102.1m/$110.7m).

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    Kindred Group reported an 11.3% rise in first quarter revenue, and while net profit fell to £1.0m, the operator said a number of exceptional costs incurred during the period made it difficult to compare results on a year-over-year basis.

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    Betsson chief executive Pontus Lindwall described the operator’s first quarter performance as “strong in all areas” after it reported year-on-year revenue growth and achieved a hat-trick of key milestones in the period.

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    Greek gaming operator OPAP has reported a 4.7% year-on-year increase in revenue for 2019, though the shut-down of its retail network in the country looks set to have a significant impact on revenue and earnings in 2020.

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    Sweden’s former gambling monopoly Svenska Spel has announced a series of measures to help the business mitigate the novel coronavirus (Covid-19) pandemic, including cancelling a proposed dividend and furloughing the vast majority of its casino staff.

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    The executive leadership of Scientific Games has voluntarily reduced its salaries by 50%, with chief executive Barry Cottle going without pay, as part of the solutions giant’s efforts to mitigate the novel coronavirus (Covid-19) pandemic.

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    William Hill has announced that it expects a material impact on revenue and earnings from the novel coronavirus (Covid-19) pandemic, and has therefore suspended its 2019 dividend to retain financial resources within the business.

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    William Hill has set out how it plans to grow into a “digitally led, internationally diverse business of scale”, with a focus on growing revenue, improving operational efficiency and scale, underpinned by a competitive customer offering and agile team.

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    William Hill has announced that Adrian Marsh will join the business as the company’s new chief financial officer later this year, replacing the outgoing Ruth Prior in the role.

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    iGaming operator ComeOn will be known as ComeOn Group going forward, to better reflect the business’ activities across a range of brands and markets.

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    XLMedia has admitted that the business will have to ramp up expenditure to support sustainable growth in the medium term, prompting the performance marketing specialist to launch a strategic review with a view to overhauling its operating model.

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    Bet365 has reported a 9.7% year-on-year rise in betting and gaming revenue, while increased marketing costs and new efforts to enhance responsible gaming controls failed to slow profit growth for the financial year ended 31 March, 2019.

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    The latest edition of Sweden’s annual survey on gambling participation has revealed that the percentage of the country’s adult population has dropped six percentage points in the past year.

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    Lottery and gaming solutions provider Intralot has once again reported a year-on-year decline in quarterly revenue, with the total for the three months to 30 September falling 5.4%.

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    Playtech has entered into a long-term structured agreement with Aquila Global Group, the operator of Colombian gaming and betting brand Wplay, that sees it become the business' strategic technology partner.

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    888 Holdings has moved to address shareholders’ concerns over Brian Mattingley’s re-election as the operator’s non-executive chairman, after a significant percentage voted against his continuing in the position.

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