Daily news

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    GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm.

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    The Oregon Lottery has revealed that it expects to generate $141.2m in revenue over the first three years following the launch of its SBTech-powered retail and mobile sportsbook. 

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    Land-based and online betting and gaming operator Betfred has posted a loss of £40.7m for its financial year ended September 30, 2018.

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    Revenue from regulated gambling in the Czech Republic fell 21.3% in 2018 to CZK31.3bn (£1.1bn/€1.2bn/$1.4bn), with the decline down to a lower contribution from slot machines.

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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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    Sweden’s newly regulated igaming market has generated total turnover of SEK3.29bn (£271.3m/€313.8m/$352.8m) in the first quarter of the year, with former horse racing monopoly AB Trav och Galopp (ATG) dominating the channel. Svenska Spel Sport & Casino and ATG accounted for 50% of online market turnover over the three month period.

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    Incoming Illinois Governor J.B Pritzker has raised hopes of legal sports betting in the state after including $200m in future tax revenue from wagering activities in his 2020 budget proposal.

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    Playtech has reported a 54% year-on-year increase in revenue for 2018, though growth for the year was largely down to the acquisition of Italian operator Snaitech, with the solutions giant’s B2B division struggling.

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    France’s online gaming market reported year-on-year growth across all three legal verticals in 2018, with the sports betting vertical the standout performer. However ARJEL has suggested that with growth in other verticals still slow, a shift to a revenue-based tax regime may be key to safeguarding the industry in the long-term.

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    Total prize money contribution will be £15.3m in 2019, down from £17.5m in 2018