Daily news

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    The year-on-year decline in revenue for Detroit’s three commercial casinos has widened to 65.0% as of July 31, the final full month the venues will be closed.

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    Canadian igaming operator and technology provider FansUnite Entertainment has completed the acquisition of white label solutions provider Askott Entertainment for CAD$27.8m (USD$20.7m) in FansUnite shares.

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    Twin River Worldwide Holdings saw revenue for the first half of 2020 fall 47.7% year-on-year,  becoming the latest listed US operator to outline the disruption caused by novel coronavirus (Covid-19) on its business.

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    Korean casino and resort operator Kangwon Land’s revenue fell 63.5% to KRW270.64bn (£174.6m/€193.9m/$228.7m) in the first half of 2020, after its venues were open only to VIP customers for much of the second quarter of the year.

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    The enlarged Gamesys Group has seen reported gaming revenue double year-on-year in the six months to 30 June, aided by record revenue from Asia.

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    The Indiana Gaming Commission has reported the strongest month for the state’s sports betting market since February, with revenue and handle both soaring in July.

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    Digital media giant InterActiveCorporation (IAC) has acquired a 12% stake in MGM Resorts International, describing the investment as a “once in a decade” opportunity.

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    The Betting and Gaming Council (BGC) has urged the UK government to extend its novel coronavirus (Covid-19) furlough scheme to help safeguard jobs in the gambling industry and also protect historic casino venues.

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    Century Casinos Inc. has reported a net loss of $58.9m for the first half of 2020, despite its US operations driving a 26.2% year-on-year increase in revenue for the period.

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    Lithuanian gambling revenue in the first half of 2020 fell by 15.9% to €43.8m (£4.0m/$5.2m) as the novel coronavirus (Covid-19) pandemic led to online revenue overtaking that of the land-based sector.

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    Golden Entertainment said results since reopening “have exceeded expectations”, despite a 69.4% drop in revenue to $76.0m in the three months to 30 June and losses increasing to $78.6m.

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    US casino operator Full House Resorts has put a year-on-year increase in net loss for the first half of 2020 primarily down to the temporary closure of its brick-and-mortar properties due to the novel coronavirus (Covid-19) pandemic.

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    Caesars Entertainment Inc. – the new name for the combined Caesars Entertainment Corporation and Eldorado Resorts business – has reported a $1.17bn net loss for the first half of the year.

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    Gaming technology supplier AGS’s revenue fell 77.5% to $16.8m as its losses increased almost six-fold for the three months ending 30 June.

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    Penn National Gaming’s revenue for the second quarter of 2020 fell 76.9% as venue closures across the country led to a $213.9m loss for the period, and an $822.5m loss for the first half of the year.

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    The Genting Singapore arm of Malaysian conglomerate Genting Group has reported a net loss of SGD$163.3m for the second quarter of 2020, following a sharp drop in revenue as its properties were closed amid the novel coronavirus (Covid-19) pandemic.

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    Japan’s Universal Entertainment Corporation has reported 24.9% year-on-year rise in sales for the first half of the year, with a significant rise in pachinko and pachislot machine sales offsetting a decline from its Philiippines integrated resort.

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    Gaming solutions giant Playtech expects earnings for the first half of 2020 to reach €160m, after a strong performance from its online and financials divisions helped offset novel coronavirus’ (Covid-19) disruption to retail and sports in the period.

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    Casino operator Red Rock Resorts said the enforced closure of its properties due to the novel coronavirus (Covid-19) pandemic was the main reason behind a $223.7m net loss for the first half.

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    Casino operator Wynn Resorts has reported a net loss of $1.04bn for the first half of the year, after the novel coronavirus (Covid-19) pandemic forced the temporary closure of its venues in the US and Macau.

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