Gaming Innovation Group (GiG) has reported lower revenue and wider losses in the third quarter, primarily due to the ongoing impact of new regulations in Sweden, while the operator and supplier has also announced the permanent appointment of Richard Brown as its chief executive.
After another difficult quarter, Betsson chief executive Pontus Lindwall has talked up the possibility of acquisitions and expansion into new markets, after the operator reported year-on-year declines in revenue and profit for the third quarter of the year.
White label and gaming content provider Nektan has extended the deadline for orders for a placing to raise £3.0m in working capital for the fourth time, after revealing that certain parties were proposing “unacceptable” terms in return for investment.
French gaming operator La Française des Jeux (FDJ) has secured approval from the country’s stock market regulator to proceed with its initial public offering (IPO), in a move that marks the first step towards the privatisation of the business.
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 forecast a 1% year-on-year drop in net gaming revenue for the three months to the end of September 2019, with the operator anticipating a double-digit decline in UK retail revenue following the cut in maximum B2 machine stakes.
Online gaming solutions provider Aspire Global has finalised its acquisition of B2B supplier Pariplay. Aspire Global has purchased 100% of the shares in GMS Entertainment Ltd, the owner of Pariplay, for €13.1m in cash.
Rank Group, the parent company of Mecca Bingo and Grosvenor Casinos, has finalised its acquisition of online casino and bingo operator Stride Gaming. Stride Shares will cease trading on AIM at 7.00am on October 7.
Board members at Flutter and The Stars Group further outlined the details of the synergies from the companies’ mega-merger, while also assuring stakeholders that the deal would pass any competition-related hurdles.
Flutter Entertainment, the parent company of Paddy Power Betfair, has agreed a deal to acquire all of the shares in The Stars Group and merge with the operator to form a combined business with annual revenue of £3.8bn (€4.3bn/$4.7bn).
Problem gambling funding body GambleAware has partnered the University of Bristol on a new research project examining how UK banks and other financial services organisations can help people suffering with or are at risk of gambling-related harm.
The UK’s Competition and Markets Authority (CMA) has given its approval to Inspired Entertainment’s proposed acquisition of Gaming Technology Group (GTG), a division of Austrian gaming equipment and solutions giant Novomatic’s UK subsidiary.