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.
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.
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.
PlanetWin365 operator SKS365 has been issued with a tax inspection report claiming that it owes €124m to the Italian authorities, having failed to declare significant revenue generated in the country's regulated gambling market.
GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm.