Daily news

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    Nektan has issued a profit warning to investors as its decline in player deposits continued into the final quarter of its financial year.

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    Stockholm-listed Better Collective has established a new credit facility worth DKK300m (£35.8m/€40.2m/$45.4m) with Nordea Bank to support its ongoing merger and acquisition efforts.

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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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    The Gaming and Lotteries (Amendment) Bill 2019, Ireland’s placeholder legislation for the country’s betting and gaming sector, has progressed to the committee stage in the Dáil Éireann. Meanwhile Minister for Finance Paschal Donohoe has confirmed that work on an alternative tax system for independent bookmakers to replace the 2% turnover tax is ongoing.

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    Five of the UK’s leading sports betting operators have voluntarily agreed to increase funding for problem gambling treatment and safer gambling.

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    The Pennsylvania sports betting market has reported a second consecutive month of decline, with revenue falling to 32.2% to $2.9m in May.

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    Venture capital fund Vereeni Investments has agreed a deal to purchase a 25% holding in Brazilian gaming content development studio Caleta Gaming for an undisclosed GBP seven-figure investment.

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    Australian online sports betting operator PointsBet has raised AUS$75m (£40.9m/€45.9m/US$51.6m) after listing its shares on the Australian Securities Exchange (ASX). The operator said the move forms part of its growth plans, which include expansion in the US market.

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    Canadian provincial lottery operator Loto-Québec has reported a 3.1% year-on-year increase in revenue to CAD$2.83bn (£1.68bn/€1.89bn/US$2.12bn) for its 2018-19 financial year, with the contribution from its igaming offering growing to $105.4m.

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    The Kenyan Government has set out plans to introduce a new 10% tax on sports betting stakes as part of a wider effort to clamp down on problem gambling in the country.

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    Revenue from Delaware’s regulated igaming market rose to $313,648 (£247,112/€278,007) in May,  the highest monthly total of the year to date, despite players spending less online.

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    JPJ Group has entered into a conditional agreement to acquire the majority of its technology partner Gamesys’ assets for a total consideration of £490m (€549.8m/$620.9m).

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    The New Jersey Division of Gaming Enforcement has reported a 27.1% year-on-year rise in regulated gaming revenue in May, aided by land-based and online casino growth. 

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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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    Switzerland’s cantonal lottery operators Loterie Romande and Swisslos have seen money raised for charitable projects across the country decline to CHF588m (£457.8m/€525.6m/$593.8m) in 2018.

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    Online gambling operator Esports Entertainment Group has applied to list its common shares on the NASDAQ Capital Market. Subject to relevant approvals, the operator will trade $11.5m worth of shares.

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    Spread betting and contracts for difference (CFD) provider CMC Markets has cited the impact of new regulatory measures across Europe as the primary reason behind year-on-year declines across income and profit in 2018.

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    GVC Holdings has fended off a shareholder revolt over executive pay, with a small majority of shareholders backing the company’s 2018 remuneration report.

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    Gambling operator Cirsa has reported a net loss of €5.6m (£5.0m/$6.3m) in the first quarter of 2019, despite its Spanish operations and Latin American casinos helping drive revenue up.

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