Daily news

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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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    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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    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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    Greek gaming operator OPAP has reported a 4.7% year-on-year increase in revenue for 2019, though the shut-down of its retail network in the country looks set to have a significant impact on revenue and earnings in 2020.

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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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    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.

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    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.

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    GVC Holdings, bet365, Flutter Entertainment, William Hill and Sky Betting and Gaming have followed up plans to increase funding for problem gambling treatment and safer gambling by setting out a plan of action to cerate a safer gambling environment.

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    Paddy Power Betfair has reported a 17% year-on-year increase in revenue for the first quarter of 2019, with strong growth in its US and Australian operations offsetting a decline in online sports betting revenue.

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    Greek lotteries and gaming solutions provider Intralot is to launch a cost reduction plan after reporting declines in turnover for all key operating segments in its 2018 results, with its struggles blamed on foreign exchange losses and the failure to secure new supply contracts during the year.

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    Paddy Power Betfair has seen its 2018 revenue grow as a result of the acquisition of FanDuel and an improved performance by the Paddy Power brand in the UK market, though the US investment has also hit full-year profits.

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    GVC Holdings chief executive Kenneth Alexander has credited excellent operational execution, effective marketing and a good World Cup for helping drive growth in the operator’s 2018 results.

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    William Hill has posted a £721.9m (€840.3m/$955.8m) pre-tax loss for 2018, as a result of an £882.8m write-down of the value of its retail business ahead of maximum B2 machine stakes being cut to £2 from April. Despite this, the operator hailed good underlying progress achieved over the year, with 2018 revenue up 2% year-on-year to £1.6bn.

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    Playtech has reported a 54% year-on-year increase in revenue for 2018, though growth for the year was largely down to the acquisition of Italian operator Snaitech, with the solutions giant’s B2B division struggling.

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    Lars Johansson has served as casino games supplier's finance chief on an interim basis since September 3 

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    Changes designed to return Lottery to long-term, sustainable growth

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    Shareholding now amounts to almost 5% of the company

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    Goodbody Stockbrokers to oversee £300m scheme

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    The UK Gambling Commission (UKGC) has revealed it issued more than £18m (€20.1m/$23.6m) in fines to gambling companies during the past financial year

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    Playtech has completed its acquisition of a majority stake in Snaitech

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