Daily news

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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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    Inspired Entertainment has entered into a definitive agreement to purchase the Gaming Technology Group (GTG) arm of Novomatic UK. The supplier will pay $120m (£94.4m/€106.0m) to acquire the assets.

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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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    Gaming platform and services provider Nektan has named Simon Hay, currently of GVC Holdings, as its new chief financial officer. Hay will begin his new role on June 17.

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    Greek lotteries and gaming solutions provider Intralot has reported an 8.5% year-on-year decline in revenue for the first quarter of its financial year, following weaker performances from all key business units.

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    Bragg Gaming Group, the Toronto-listed operator and supplier formed through the acquisitions of sports news portal GiveMeSport and igaming software developer Oryx Gaming, has reported revenue of CAD$10.4m in its first set of quarterly results.

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    The Rank Group has reached an agreement on an all cash offer to acquire Stride Gaming, paying 151 pence per share for the business. This values Stride at £115.3m. 

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    Kenneth Alexander, chief executive of GVC Holdings, has agreed to take a pay cut of £150,000 (€169,888/$188,941) following pressure from the operator's shareholders.

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    Asian gaming giant Melco Resorts and Entertainment has signed a definitive purchase agreement to acquire a 19.99% stake in Australian gaming operator Crown Resorts.

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    Gambling.com Group has reported a 52% year-on-year increase in revenue for the first quarter of 2019, with the affiliate marketing giant to invest in the development of products for the US market in the year ahead.

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    The Horseracing Betting Levy Board (HBLB) has warned that the Levy for the UK industry in 2018-19 is set to fall short of expectations by some distance, with forecasts placing the sum paid to the industry down by £17m (€9.4m/$21.7m) from the previous year.

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    London-listed lottery brokerage Zeal Network has completed the acquisition of its former subsidiary Lotto24 via an all-share public takeover.

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    Private equity group Blackstone has committed to a £175m (€202.7m/$227.5m) strategic minority investment in Romanian omni-channel sports betting and gaming operator Superbet.

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    Australian gaming machines and content provider Ainsworth Game Technology has warned that it is likely to miss financial targets for the second half of its 2019 financial year, with its current performance failing to meet expectations.

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    GambleAware has reiterated calls for UK operators to offer further financial support its problem gambling efforts after revealing that industry funding failed to meet its 2018-19 target.

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    SciPlay, the former social games subsidiary of Scientific Games, has begun trading on the Nasdaq Stock Market as part of its initial public offering (IPO). A total of 22m shares of Class A common stock have been made available at $16 per share.

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    LeoVegas has reported an 11.6% rise in revenue for the first quarter of 2019, though growing costs saw the Stockholm-listed gaming operator post a €31,000 (£26,611/$34,757) loss for the period.

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    Paddy Power Betfair has reported a 17% year-on-year increase in revenue for the first quarter of 2019, with strong growth in its US and Australian operations offsetting a decline in online sports betting revenue.

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    London-listed igaming service provider GAN has credited higher than expected growth in New Jersey’s legal sports betting market for first quarter revenue growing to £4.6m, a new company record.

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