Daily news

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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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    The iGB Live! and iGB Affiliate Amsterdam shows have been postponed to 2021, amid ongoing uncertainty caused by new travel restrictions related to the ongoing novel coronavirus (Covid-19) pandemic.

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    Esports betting operator Luckbox expects to receive final approval for its listing on Toronto’s TSX Venture Exchange (TSXV) by October, and has set out an expansion roadmap that will see it grow its management team and launch a B2B arm.

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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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    Speaking at iGB Live! Online, Better Collective chief executive Jesper Søgaard set out why he believes a licensing regime for affiliates is both desirable and necessary.

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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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    Esports betting operator Esports Entertainment Group has announced that it will close its purchase of online betting and gaming operator Argyll Entertainment on or before 31 July, after finalising a definitive agreement for the acquisition.

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    Nikolas Lynhe-Knudsen will take on the role of chief executive at Denmark’s state-controlled gaming operator, Danske Spil, from 1 October 2020.

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    Gaming solutions giant International Game Technology (IGT) has announced a new organisational structure that focuses the business on two key segments.

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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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    The Malta Gaming Authority (MGA) has revealed that it anticipates B2C gross gaming revenue for 2020 to fall 12% below initial forecasts as a result of disruption caused by novel coronavirus (Covid-19).

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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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    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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    The chief executives of a further seven Swedish licensees have signed a petition organised by operator association Branscheforenigen for Onlinespel (BOS), protesting tightening restrictions imposed by Minister for Health and Social Affairs Ardalan Shekarabi.

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    Ninja Casino operator Global Gaming has named Petter Fagrell as chief executive of its operational hub in Malta, replacing Mark Wadsworth in the role.

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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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    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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    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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