Daily news

Mobile games developer Gaming Realms has agreed to sell its B2C subsidiary Bear Group to River iGaming for a total consideration of £11.5m.

Strong growth in revenue failed to offset the impact of growing costs for Scientific Games in 2018, with the gaming solutions provider’s loss for the period growing to $352.4m (£269.3m/€310.1m). Revenue for the 12 months ended December 31, 2018 was up 9.1% year-on-year, with a marginal decline in gaming revenue - down 0.7% to $1.8bn - offset by strong growth in the social and digital divisions.

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.

888 Holdings has agreed a deal to acquire JPJ Group's Mandalay operating business, including the Costa Bingo brand, for a cash consideration of £18m (€20.6m/$23.3m). The deal will strengthen 888's UK presence, its CEO claims, while JPJ says the sale will allow it to pursue a single-brand strategy focused around Jackpotjoy. 

The Delaware Lottery’s igaming offering enjoyed a strong start to 2019, with revenue up 57.9% year-on-year, driven largely by the performance of Dover Downs.

Betsson has reported year-on-year growth across revenue and gross profit for 2018, due in part to a record performance by the business in the fourth quarter.

Martin Carlesund, the chief executive of live dealer software supplier Evolution Gaming, has hailed “yet another amazing year” in the company’s history after revenue for 2018 grew 38%.

Paddy Power Betfair has pledged to appeal against legacy tax assessments in Greece and Germany, claiming that the sums being demanded are far greater than revenue generated in either market.

Kambi Group has cited the renewal of contracts with various customers as one of the main reasons behind year-on-year growth across revenue and profit for 2018.