Daily news

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    The New Zealand government has confirmed it is to repeal the current betting levy on the country’s racing industry, with plans in place to phase this out over the next three years.

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    Spread betting and contracts for difference provider IG Group Holdings has forecast a 17% year-on-year decline in profit for the 2019 financial year, primarily due to a drop in over-the-counter revenue in the European Union.

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    Sportech executive chairman Richard McGuire has confirmed that the technology provider will continue to focus on controlling costs, with the strategy having led to encouraging progress for the company this year following a challenging 2018.

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    Gambling.com Group has reported a 52% year-on-year increase in revenue for the first quarter of 2019, with the affiliate marketing giant to invest in the development of products for the US market in the year ahead.

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    Denmark’s regulated online gaming market has reported a 4.5% year-on-year increase in revenue for the first quarter of 2019, with growth in the online casino and sports betting verticals offsetting land-based declines.

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    Payment processing solutions provider Nuvei Corporation has reached an agreement on the terms of an all-cash deal to acquire payment technology business SafeCharge International.

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    International Game Technology (IGT) has reported a 5% year-on-year decline in group revenue for the first quarter of 2019, a result of lower revenue from gaming operations.

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    The Pennsylvania Gaming Control Board (PGCB) has revealed that the state has generated tax revenue of $3.4m (£2.7m/€3.0m) from its first full year of regulated fantasy sports contests.

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    The Horseracing Betting Levy Board (HBLB) has warned that the Levy for the UK industry in 2018-19 is set to fall short of expectations by some distance, with forecasts placing the sum paid to the industry down by £17m (€9.4m/$21.7m) from the previous year.

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    Mississippi has seen revenue from its legal sports market plummet in April, with basketball remaining the most popular sport for wagering.

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    Betting technology supplier Newgioco has cited costs related to ongoing expansion plans as the main reason for posting a net loss in the opening quarter of the year.

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    Finnish gaming monopoly Veikkuas has reported marginal year-on-year increases in both gaming revenue and profit for the first quarter, with growth driven by a strong performance from its lottery vertical.

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    Åland Islands-based operator Paf has cited the introduction of mandatory customer loss limits for its online gaming services as the main reason behind a year-on-year decline in revenue and profit for 2018.

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    Pennsylvania has reported a 23.5% decline in sports betting revenue for April, with a weaker month for Rush Street’s Rivers and SugarHouse venues allowing Parx Casino to take top spot in the market.

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    Swedish gambling regulator Spelinspektionen has handed six-figure fines to Betway and Mandalorian Technologies after finding them both in breach of regulations related to bonus offers in the country.

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    Delaware has revealed a month-on-month decline in sports betting revenue for April, while online gaming revenue also fell to a yearly low during the month.

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    Independent table games provider Galaxy Gaming has cited its internet-based operations as one of the main drivers behind a 23% year-on-year increase to record revenue during the first quarter of the year.

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    Playtech is searching for a new chairman to replace Alan Jackson, who will leave the business, the company announced today at its annual general meeting.

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    The Stars Group (TSG) has put a 47.7% year-on-year increase in revenue during the first quarter primarily down to the continuing impact of acquired assets Sky Betting & Gaming and BetEasy.

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    William Hill has reported a 2% increase in revenue for the first 17 weeks of the year, despite suffering a like-for-like drop in revenue for its online arm and a decline in its retail business.

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