Daily news

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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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    Pari-Mutuel Urbain (PMU) has reported a 1.8% year-on-year decline in revenue for the third quarter, despite experiencing ongoing growth within its French horse racing betting business.

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    Problem gambling funding body GambleAware has revealed that GVC Holdings topped its list of pledges for the six months to 30 September 2019, with the Ladbrokes Coral owner committing a total of £1.46m (€1.69m/$1.86m) during the period.

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    New Jersey’s sports betting market has enjoyed its strongest month since launch, with amounts wagered more than doubling year-on-year and revenue climbing to a record $37.9m in September.

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    Sports betting revenue in Delaware amounted to $2.2m in September, which is the highest monthly total so far this year but down 31.5% on the same month in 2018.

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    Credit rating agency S&P Global has downgraded Codere from a ‘B’ to a ‘B-,’ a week after the company announced financial inconsistencies may reduce its full-year earnings by up to €20m (£17.9m/$22.0m).

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    Affiliate marketing company Catena Media has made the final payment as part of its purchase of ASAP Italia.

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    Revenue in Delaware’s online gaming market climbed to a year-high of $384,830 in September, despite consumers spending less on a month-on-month basis.

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    Rank Group has reported an 8% year-on-year increase in gross gaming revenue for the three months to 30 September 2019, after it was boosted by growth in its digital arm and Grosvenor Casino land-based business.

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    Sweden’s Administrative Court has moved to reduce Casino Cosmopol’s penalty fee for breaching licence conditions related to money laundering and terrorist financing to SEK3m (£242,508/€276,959/$305,316), but the national gambling regulator could appeal against the ruling.

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    Genius Sports Group has posted a loss of £7.6m (€8.7m/$9.5m) for 2018, despite also reporting a 23.9% year-on-year rise in revenue for the 12-month period.

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    New York’s four licensed sports betting operators took in a combined $2.3m in sports betting revenue, up 175.3% month-on-month, as two casinos published their first full-month revenues for the vertical.

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    Sports wagering revenue amounted to $4.96m in the first full month of regulated activities in Iowa, with online betting the most popular form of gambling in the state.

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    Arena Racing Corporation (ARC) and its subsidiaries said increased prize money and labour costs were responsible for a halving of EBITDA in 2018.

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