After another difficult quarter, Betsson chief executive Pontus Lindwall has talked up the possibility of acquisitions and expansion into new markets, after the operator reported year-on-year declines in revenue and profit for the third quarter of the year.
White label and gaming content provider Nektan has announced plans to raise £3.0m in working capital, as well as restructuring existing loan agreements, warning the business requires new funding to continue as a going concern.
Performance marketing specialist Raketech Group has reported a 6.1% year-on-year decline in revenue for the second quarter of 2019, though reduced costs saw it significantly increase its profit for the period.
Bragg Gaming Group, the Toronto-listed operator and supplier formed through the acquisitions of sports news portal GiveMeSport and igaming software developer Oryx Gaming, has reported revenue of CAD$10.4m in its first set of quarterly results.
Codere has again cited the devaluation of the Argentine Peso as the main reason behind a year-on-year decline in revenue during the first quarter, despite seeing growth across its Mexican, Italian, Spanish and online operations.
Venture capital fund Vereeni Investments has acquired a “significant” stake in Flax Innovations. Vereeni has made an initial “six-figure investment” in return for an equity stake in the Swedish company.
Unibet operator Kindred Group has reported an 8.0% year-on-year rise in revenue for the first quarter of 2019, though has seen earnings impacted by costs associated with its launch in Sweden’s newly regulated igaming market.
Gaming platform and services provider Nektan has reported a 5.9% year-on-year increase in revenue for the third quarter of its financial year, though noted that performance in the period was impacted by a number of factors.
London-listed Sportech has described 2018 as a challenging year for the business, which resulted in revenue declining 3.9%, though highlighted the success of cost control efforts that helped the business cut losses for the period.
International Game Technology (IGT) has reported a 2.2% year-on-year decline in revenue for 2018, though a reduction in operating costs and foreign exchange gains helped the supplier cut its full-year loss to $21m (£16.0m/€18.7m).