Daily news

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    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.

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    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.

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    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.

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    Gambling operator Betsson AB has confirmed that it has sold its stake in Global Gaming. Betsson acquired the minor shareholding in June, but offloaded the stake a matter of weeks later.

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    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.

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    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.

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    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.

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    Åland Islands-based operator Paf has lowered its maximum annual loss limit from €30,000 to €25,000.

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    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.

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    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).

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    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.

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    Venture capital fund Vereeni Investments has acquired a stake in India-facing fantasy sports operator Nostragamus for an undisclosed, seven-figure sum.

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    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.

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    Affiliate marketing giant Better Collective has purchased a 19.99% stake in gambling intelligence software solutions provider Mindway AI for DKK4m (£471,688/€535,718/$592,728).

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    Mateusz and Zbigniew Juroszek, the owners of Polish bookmaker STS Gaming Group, has purchased 140,000 shares in affiliate marketing giant Better Collective for approximately €1m (£889,773/$1.1m).

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    Gambling operator Betsson has announced plans to issue a new senior unsecured bond with an expected initial minimum volume of SEK500m (£41.6m/€46.7m/$51.4m) to help support its ongoing growth and expansion strategy.

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    Affiliate marketing provider Gambling.com Group has secured $15.5m (£12.6m/€14.0m) in new investment from growth equity investment firm Edison Partners.

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    The Malta Gaming Authority (MGA) has commenced the second phase of its Sandbox Framework, the intitative designed to explore the use of cryptocurrency by licensed gaming operators.

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    Better Collective has completed the acquisition of online gambling information website MyBettingSites.co.uk in a deal worth up to £2.2m (€2.4m/$2.7m).

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    Austrian gaming giant Novomatic has reported a 1.8% year-on-year fall in revenue for the first half of its financial year, with changes to gaming regulations in core markets such as Germany and Italy blamed for the decline. This led to significant increases in depreciation and amortisation, which drove down profit for the period.

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