Daily news

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    Sports betting and interactive gaming company Newgioco Group has reported an increased comprehensive loss in 2019, despite experiencing a year-on-year rise in revenue for the year.

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    An end-of-quarter exchange rate adjustment offset a further downgrade in H2 Gambling Capital’s 2020 forecast for the pandemic-hit global gambling sector this week.

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    New figures released by the Polish Ministry of Finance reveal that while the country has seen gambling revenue decline for the year to date, newly regulated products helped mitigate falls in online betting and land-based gaming.

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    Betting technology supplier Sportech says efforst to reduce operational costs in the first half of its fiscal year helped to partially offset a “severe” decline in revenue, caused by the novel coronavirus (Covid-19) pandemic.

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    A new survey by the UK government reveals that gambling businesses are split over whether they can withstand the disruption caused by novel coronavirus (Covid-19), though a significant number of respondents reported revenue being wiped out by lockdown.

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    Credit rating agency Standard & Poor's (S&P) Global has downgraded Codere for the fourth time in eight months, stating that the operator is at serious risk of defaulting on its debts in the coming six months.

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    William Hill has seen revenue for the 23 weeks to 9 June fall 32% year-on-year, though the operator claims that recent weeks have shown the business recovering strongly from the disruption caused by novel coronavirus (Covid-19).

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    The Betting and Gaming Council (BGC) has revealed that its five largest members will spend £100m (€111.4m/$125.4m) on improving treatment services for problem gamblers in the UK.

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    Czech gaming conglomerate Sazka Group has reported an 11.5% year-on-year decline in gross gaming revenue for the first quarter of 2020, after the business’s retail gaming operations were disrupted by the novel coronavirus (Covid-19) from mid-March.

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    Greek gaming operator OPAP said a shutdown of its retail network as a result of the novel coronavirus (Covid-19) pandemic led to a year-on-year decline in revenue and profit during the first quarter.

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    The GB Gambling Commission has reminded operators that its ban on the use of credit cards for gambling extends to payments made through ewallets and other money service businesses (MSB). 

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    France’s igaming market showed little signs of the impact of novel coronavirus (Covid-19) in the first quarter of 2020, with L’Autorité de régulation des jeux en ligne (ARJEL) warning that the full impact would be seen in subsequent quarters.

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    Australian gambling operator Tabcorp has reached an agreement with its US private placement note holders in regards to its financial planning for the ongoing novel coronavirus (Covid-19) pandemic.

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    The Betting and Gaming Council (BGC), the body that represents Great Britain's betting and gambling industry, has urged the government to continue to be flexible as it prepares to taper off its novel coronavirus (Covid-19) furlough scheme in order to protect jobs in the sector.

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    Flutter Entertainment announced plans to accelerate US expansion and reduce debt through an equity placement that raised £812.6m, after revealing a 10% rise in revenue for the first 47 days of its second quarter.

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    The GB Gambling Commission has reported a 0.5% decline in gross gambling yield (GGY) for the 12 months from October 2018 to September 2019, though this was mitigated in part by an increase contribution from online gaming. However, year-on-year comparisons reveal a 1.8% decline in online revenue. 

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    The Italian government is to introduce an 0.5% tax on licensees’ sports betting turnover to fund the recovery of the country’s sports following the novel coronavirus (Covid-19) enforced shut-down.

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    Danish gaming operator Danske Spil has reported a marginal year-over-year increase in revenue for the first quarter of 2020, with declines in its igaming and gaming machine arms mitigated by growth in its lottery business.

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    The conclusion of the legal dispute over the payment of value-added tax (VAT) on revenue generated from gaming machines has led to GVC Holding revealing that it expects to see up to £200m repaid.

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    Gambling tech giant Playtech has revealed it was able to perform as expected in the first quarter, experiencing a strong trading period despite its business being impacted by the novel coronavirus (Covid-19) pandemic.

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