Daily news

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    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.

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    Trading in shares of struggling B2B supplier Nektan on the London Stock Exchange’s Alternative Investment Market has been cancelled, after the company failed to appoint a new nominated advisor.

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    Gambling software provider GAN has revealed that it was able to generate a total of $62.4m from its US initial public offering, signficantly more than it had initially anticipated.

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    Swedish gaming operator LeoVegas has reported a 3.6% year-on-year rise in revenue for the first quarter of 2020, aided by growth the Nordic region offsetting a decline in revenue from the rest of Europe.

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    Spread betting and contracts for difference (CFD) provider IG Group has named Charlie Rozes as its new chief financial officer.

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    GVC Holdings has announced that its board and remuneration committees have approved a pay cut for executive committee members and to also forego bonus payments for certain staff for 2020.

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    Flutter Entertainment, the operator of the Paddy Power Betfair business, has announced that it will finalise its acquisition of and subsequent merger with The Stars Group (TSG) on 5 May.

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    GVC Holdings has agreed terms on a new revolving credit facility (RCF) worth £535m (€614.4m/$668.3m) as part of its strategy to mitigate the impact of the novel coronavirus (Covid-19) on its business.

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    Gambling software provider GAN has set out plans for its initial public offering (IPO), through which it aims to raise up to $34.5m.

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    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).

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    Caesars Entertainment has launched a new assistance fund to support staff and local communities across the US negatively impacted by the outbreak of novel coronavirus (Covid-19).

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    Sweden’s former horse racing monopoly operator AB Trav och Galopp (ATG) has reported a 10.7% year-on-year increase in net gaming revenue for the first quarter of 2019 to SEK1.11bn (£89.0m/€102.1m/$110.7m).

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    Intralot believes the impact of novel coronavirus (Covid-19) on the business is yet to reach its peak, and does not expect to return to normal levels of activity until November this year.

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    Shareholders of Diamond Eagle Acquisition Corp. have approved the acquisitions of DraftKings and SBTech and the public listing of the new entity.

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    Kindred Group reported an 11.3% rise in first quarter revenue, and while net profit fell to £1.0m, the operator said a number of exceptional costs incurred during the period made it difficult to compare results on a year-over-year basis.

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    Finnish gambling monopoly Veikkaus has revealed that the shut-down of its retail gaming network and significantly reduced sports betting options, both due to the novel coronavirus (Covid-19) pandemic has cut revenue by around 40.6%.

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    Betsson chief executive Pontus Lindwall described the operator’s first quarter performance as “strong in all areas” after it reported year-on-year revenue growth and achieved a hat-trick of key milestones in the period.

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    NetEnt has put a 23.9% year-on-year increase in revenue during the first quarter primarily down to growth within the UK and US market, though the supplier said both Sweden and Norway continued to underperform.

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    Flutter Entertainment’s shareholders have approved the company’s merger with the Stars Group to create the world’s largest online gambling company.

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    French gaming giant La Française des Jeux (FDJ) has reported a 5.4% year-on-year decline in stakes, and 0.9% decline in revenue, for the first quarter of 2020.

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