Daily news

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    The Listing Qualifications Department of the Nasdaq stock exchange has written to betting and gaming operator and supplier Newgioco Group after it failed to file its first quarter results in time.

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    Shareholders of Roar Digital, the joint venture between MGM Resorts and GVC Holdings, have committed to a second round of investment in the business, bringing its total funding to $450m.

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    An improved performance from online and land-based slots, coupled with growth in lottery and betting revenue, saw the Czech Republic’s regulated gambling market grow 16.0% year-on-year in 2019.

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    Kindred Group has forecast a year-on-year increase in revenue for the second quarter, despite the business having been impacted by the novel coronavirus (Covid-19) pandemic during the period.

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    Kenyan Treasury Secretary Ukur Yatani has claimed the government will look to reintroduce the controversial 20% excise tax on betting stakes within six months, after it was removed from the country’s 2020 budget.

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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 Zealand’s Racing Industry Transition Agency (RITA) has revealed that both revenue and net profit were below budget expectations in the first half of its fiscal year, while it made a higher-than-expected loss for the period.

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    Revenue from gambling organised by Swiss lotteries came to just over CHF1bn (£857.3m/€939.0m/$1.05bn) in 2019, according to the latest annual report from the Inter-Cantonal Lotteries and Betting Commission (Comlot), which said the numbers show licensed oeprators were regaining market share from offshore competitors.

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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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    Sports wagering revenue in Rhode Island slumped 71.6% year-on-year in May as the state continued to feel the impact of the novel coronavirus (Covid-19) crisis, though this marked a significant improvement on April’s figures.

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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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    H2 Gambling Capital saw the first gain in its 2020 gross gambling win forecasts this week since it started tracking the impact of the pandemic on the sector five months ago.

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    Online gambling operator 888 Holdings has said it expects to post higher-than-forecast earnings before interest, tax, depreciation and amortisation (EBITDA) for the 2020 calendar year, despite the impact of the novel coronavirus (Covid-19) pandemic on its business.

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    Kenya’s National Assembly has approved a budget bill removing the controversial excise tax on betting stakes that led to operators Sportpesa and Betin leaving their local market.

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    Esports betting operator Luckbox has completed a second tranche of funding, raising a further CAD$627,650 from investors, and taking the total sum raised through its current round to $4.5m.

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    Virtual sports and casino game developer Leap Gaming has seen gross gaming revenue rise 123% for the opening five months of 2020, with the business now expecting to post a profit in the third quarter of the year.

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    The Mississippi Gaming Commission has reported sports betting revenue of $87,697 after the state’s casinos began to reopen from 21 May following their novel coronavirus (Covid-19) enforced shutdown.

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    The Betting and Gaming Council (BGC) has revealed that a group of its members was able to raise £250,000 (€276,843/$310,149) for several charities through an initiative based around the Royal Ascot horse racing event.

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    New obstacles to recovery in the Asia-Oceania region erased hopes of a stabilisation of H2 Gambling Capital’s forecasts for the global gambling sector this week

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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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