Daily news

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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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    The Latvian parliament has submitted a proposal for the country's 2020 budget to increase gaming taxes levied on land-based gambling in the country.

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    The Italian government has announced an increase in the taxes on video lottery terminals (VLTs) and Comma 6A Amusement with Prize slot machines.

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    Camelot UK Lotteries, operator of the UK’s National Lottery, has confirmed that it has stopped selling £10 category scratchcards as part of an effort to tackle problem gambling.

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    White label and gaming content provider Nektan has extended the deadline for orders for a placing to raise £3.0m in working capital for the fourth time, after revealing that certain parties were proposing “unacceptable” terms in return for investment.

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    French gaming operator La Française des Jeux (FDJ) has secured approval from the country’s stock market regulator to proceed with its initial public offering (IPO), in a move that marks the first step towards the privatisation of the business.

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    Casino operator MGM Resorts International has agreed to sell its iconic Bellagio Las Vegas property and form a joint venture with Blackstone Real Estate Income Trust, in a deal worth $4.25bn. MGM has also struck a deal to sell Circus Circus for $825m to an affiliate of Treasure Island owner Phil Ruffin.

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    Licensed sportsbook operators in Pennsylvania generated collective revenue of $19.4m (£15.1m/€17.4m) in the second full month of regulated sports wagering, while interactive gaming revenue in September amounted to $5.3m.

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