Daily news

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    Spain’s gambling industry is still 20% smaller than it was ahead of the 2008 financial crash according to figures collated by major trade group Cejuego.

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    Finland’s state-owned gambling operator Veikkaus said operational efficiencies enabled it to record a lift in profits for the third quarter and the year to date, despite a fall in revenues.

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    The start of the NFL season brought Nevada back to the top in sports betting as players wagered $546.4m (£421.2m/€488.6m) on sports in September, helping total gaming revenue climb 6.8% to $1.06bn.

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    Asian gaming giant Melco Resorts and Entertainment has revealed a 14% year-on-year increase in revenue for the third quarter, while operating income more than doubled during the period.

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    The Czech Republic Ministry of Finance has defended its decision to introduce higher taxes on certain gambling activities, after a national newspaper claimed the increases would harm the country's land-based market.

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    Rhode Island sports betting revenue almost tripled month-on-month to $2.5m in September, with an increase in retail betting accompanied by the first contribution from mobile.

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    The Swedish Gaming Authority (Spelinspektionen) has reported a 3.4% quarter-on-quarter decline in online gambling revenue for the Q3, ahead of it publishing full results for the period.

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    PointsBet has reported a 138% year-on-year rise in turnover during the first quarter, primarily due to its launch and subsequent expansion in the US, while the online sports betting operator has also revealed plans to raise AUD$122.1m through a share placing.

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    Canadian provincial lottery operator Loto-Québec has reported a 1.53% year-on-year increase in revenue for the first half of 2019, despite seeing a decline within its draw-based games business.

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    White label and gaming content provider Nektan has completed its share placement to raise new working capital, with the final proceeds of £2.6m ultimately failing short of its original £3.0m target.

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    Unibet operator Kindred Group saw gross winnings revenue for the third quarter of 2019 declined 2% to £226.0m (€260.9m/$290.1m) while after-tax profits almost halved as struggles in Sweden hurt the company’s bottom line.

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    Sports betting solutions provider Kambi Group has reported a year-on-year rise in revenue for the third quarter, but saw its operating profit decline as a result of higher spending related to its US expansion efforts.

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    Canadian media business theScore saw its net loss increase 59.3% year-on-year in the 12 months to August 31, 2019, after the launch of its new sportsbook product in New Jersey led to higher spending.

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    Svenska Spel’s third quarter gross gaming revenue declined to SEK4.6bn  as the effects of competition and regulation in the re-regulated Swedish market hit the company's balance sheets.

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    New York-based private equity firm Apollo Global Management has agreed to acquire 48.67% of the issued share capital in Gamenet from the two largest shareholders in the Italian gaming operator.

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    NetEnt has reported a marginal decline in revenue for the third quarter of the year, after favourable exchange rates and the acquisition of Red Tiger Gaming partially offset struggles in the Norwegian, Swedish and UK markets.

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    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.

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    Live dealer software supplier Evolution Gaming said its investment in new products and the expansion of its studios has led to a year-on-year increase in revenue and profit during the third quarter of 2019.

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    Finnish gaming monopoly Veikkaus has denied local media reports suggesting that players are spending as much as €11.0bn (£9.51bn/$12.22bn) across is gaming machine estate, arguing the reported figures do not offer a true representation of its actual sales.

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    A lawmaker in the Philippines has proposed a new 5% tax on revenue generated by the country’s licensed online gaming operators, with the move securing the backing of the country’s finance secretary Carlos Dominguez III.

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