Daily news

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    GVC Holdings has reported a year-on-year rise in revenue for the first quarter, despite business slowing down due to the novel coronavirus (Covid-19) global pandemic, but has chosen to cancel a planned dividend payment due to ongoing uncertainty over the outbreak.

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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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    The Philippine Amusement and Gaming Corporation (PAGCOR) has said that the current restrictions enforced in the country due to novel coronavirus (Covid-19) are costing the association up to PHP6bn (£95.1m/€107.4m/$117.8m) a month.

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    The UK’s Competition and Markets Authority (CMA) has given its approval to the proposed mega-merger between Flutter Entertainment, the parent company of Paddy Power Betfair, and Sky Bet operator The Stars Group.

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    Flutter Entertainment, the parent company of Paddy Power Betfair, has said its proposed mega-merger with The Stars Group (TSG) remains on track despite the outbreak of novel coronavirus (Covid-19), with the two operators announcing further details about the deal.

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    Gambling industry association the Betting and Gaming Council (BGC) has praised the UK government after it was confirmed that gambling companies will qualify for the business rates holiday designed to mitigate the shut-down enforced by novel coronavirus (Covid-19).

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    The Philippine Amusement and Gaming Corporation (PAGCOR) has released an additional PHP6bn (£100.8m/€109.4m/$118.0m) in funds to the country’s government to help support national efforts related to the novel coronavirus (Covid-19) pandemic.

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    British industry body The Betting and Gaming Council has written to the Chancellor of the Exchequer after the gambling industry was excluded from all forms of business rate relief intended to ease the impact of the novel coronavirus (Covid-19) pandemic.

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    Sweden-facing operator Svenska Spel has announced that it will make a further SEK5m (£412,970/€444,748/$481,213) in grants available this year to research projects focused on gambling addiction.

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    The Betting and Gaming Council (BGC) has urged the UK Chancellor to provide emergency help to save thousands of jobs across the gambling industry, after fresh concerns were raised over the impact of the novel coronavirus disease (Covid-19) on the sector.

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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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    Inspired Entertainment has announced an increased net loss for 2019, as increased revenue from its server-based gaming and hardware divisions was offset by rising operating costs.

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    Done Brothers (Cash Betting) Ltd, owner of the Betfred business, has acquired a 3% stake in William Hill for an undisclosed sum.

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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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    GVC Holdings has announced a year-on-year increase in loss after tax for 2019, despite also reporting a 2.3 % proforma rise in net gaming revenue during the year.

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    Spanish and Latin America-facing gaming operator Codere has reported a 5.9% year-on-year decline in revenue for 2019, after growth in European markets was offset by a currency fluctuations hitting the contribution from its Argentinean business.

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    Flutter Entertainment has reported a 14.3% year-on-year increase in revenue for 2019, with growth in the US and Australia offsetting declines in its online sports betting and retail businesses.

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    Sweden’s AB Trav och Galopp (ATG) posted the highest full-year revenue in the company’s history in 2019, though a decline in its core racing vertical and Sweden’s new gaming taxes hit operating profit for the year.

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    The Pennsylvania Gaming Control Board (PGCB) has reported a 16.9% year-on-year rise in gambling revenue for January, aided by growing contributions from igaming and sports betting. 

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    Denmark’s regulated gambling market reported declines in gross gaming revenue across a number of core verticals, though a strong performance from the online casino vertical allowed the market to post year-on-year growth for 2019.

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