Daily news

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    The enlarged Gamesys Group has seen reported gaming revenue double year-on-year in the six months to 30 June, aided by record revenue from Asia.

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    Digital media giant InterActiveCorporation (IAC) has acquired a 12% stake in MGM Resorts International, describing the investment as a “once in a decade” opportunity.

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    Gaming solutions giant Playtech expects earnings for the first half of 2020 to reach €160m, after a strong performance from its online and financials divisions helped offset novel coronavirus’ (Covid-19) disruption to retail and sports in the period.

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    William Hill has reported a 31.7% year-on-year decline in revenue for the first half of its financial year, though a £230.7m value added tax (VAT) refund allowed the operator to post a £115.6m net profit for the period.

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    The novel coronavirus (Covid-19) pandemic has hit International Game Technology (IGT) hard in the second quarter of 2020, with revenue dropping 48.4% and the business posting a net loss of $279.6m.

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    Superbet Group has acquired a 60% stake in online casino operator Lucky 7, in a deal the Central and Eastern European betting and gaming business said would help to diversify its operations.

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    Svenska Spel chief executive Patrik Hofbauer said the operator is showing signs of recovery following the disruption caused by novel coronavirus (Covid-19), which led to a 9.6% year-on-year revenue decline in the first half of the year.

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    GVC Holdings has reported an 11% year-on-year decline in revenue for the first half of 2020, though outgoing chief executive Kenneth Alexander hailed the strong performance of the operator’s online business during the period.

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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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    Circus Circus Casino has filed a lawsuit against insurance company AIG for damages exceeding $75m in the United States District Court for Nevada, arguing the operator’s AIG insurance policy failed to cover “all risks” as specified during the novel coronavirus (Covid-19) crisis.

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    Codere has merged its two Italian gaming machine divisions, FG Slot and Gap Games Italia, to form a new division, Codwin.

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    New Zealand-based casino operator SkyCity Entertainment Group has reopened its gaming, entertainment and hospitality facilities in Adelaide, Australia, and also revealed that its recent NZ$180m (£93.9m/€102.8m/US$115.3m) share placing drew strong support from investors.

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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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    New Zealand-based casino operator SkyCity Entertainment Group has generated NZ$180m (£93.3m/€103.2m/US$115.8m) through a share placement, as part of a NZ230m equity raising.

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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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    Online wagering solutions provider BetMakers Technology Group has raised AUS$35m (£19.2m/€21.5m/US$24.1m) through a new share placement, with the new funds to be used to execute its US expansion plans.

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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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    Baltic-facing operator Enlabs has agreed a deal to purchase an additional 11.3m shares in Ninja Casino operator Global Gaming.

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    Westdeutsche Spielbanken (WestSpiel), the land-based operator owned by the German state of Nordrhein-Westfalen (North Rhine-Westphalia), made €136.8m in gross gaming revenue in 2019, up 27.0% year-on-year.

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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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