Australian gambling operator Tabcorp has announced it will not pay a dividend in relation to its 2020 financial year as part of its response to mitigate the impact of the novel coronavirus (Covid-19) pandemic on the business.
The eligibility requirements for the Paycheck Protection Program (PPP) have been amended to allow small gambling businesses to benefit from the fund, following an intense lobbying effort from the American Gaming Association (AGA).
Land-based gambling operator Boyd Gaming has set out a number of additional measures to mitigate the financial impact of the novel coronavirus (Covid-19) pandemic, including placing most of its staff on unpaid furlough.
Penn National Gaming (PNG) has taken measures to mitigate the effect of the novel coronavirus disease (Covid-19) on its business, selling and leasing back its Tropicana Las Vegas property and furloughing around 26,000 staff members.
Bragg Gaming Group has reported revenue of CAD$10.0m for the third quarter of 2019, while starting tomorrow, the business will have a new finance chief as bwin.party veteran Stephen Prowse takes over the role from Ashkay Kumar.
Casino operator MGM Resorts International has agreed to sell its iconic Bellagio Las Vegas property and form a joint venture with Blackstone Real Estate Income Trust, in a deal worth $4.25bn. MGM has also struck a deal to sell Circus Circus for $825m to an affiliate of Treasure Island owner Phil Ruffin.
GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm.
Las Vegas-based casino operator Wynn Resorts has opened talks with Crown Resorts over a possible acquisition of the Australian gaming operator. The proposed offer is worth Aus$14.75 a share, valuing Crown at around Aus$10bn.
US racetrack and casino operator Churchill Downs Incorporated (CDI) has cited its racing and online advance deposit wagering (ADW) divisions as key drivers of a 14.3% year-on-year increase in revenue for 2018.
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.
Igaming platform and software provider GAN has said that it expects revenue for 2018 to come in ahead of market expectations after the business was boosted by a strong performance in the second half of the year.