Daily news

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    Playtech has said that it is evaluating all options for its TradeTech Group after it revealed that struggles within the financials division during the 17 weeks to 31 October meant the business is set to miss its full-year earnings projections.

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    Banking group HSBC UK has joined forces with industry charities GamCare and GambleAware to develop and launch a new self-restriction tool to enable its customers to block gambling transactions on their accounts.

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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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    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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    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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    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 has agreed a deal to sell its 50% interest in the Sportium Apuestas Deportivas joint venture with Cirsa, in a move that will mark its exit from the Spanish retail betting market.

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    Czech gaming and lottery giant Sazka Group has put forward an offer of €2.06bn (£1.85bn/$2.31bn) to gain full control of Greek gaming operator OPAP.

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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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    Kenneth Alexander, chief executive of GVC Holdings, has agreed to take a pay cut of £150,000 (€169,888/$188,941) following pressure from the operator's shareholders.

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    Private equity group Blackstone has committed to a £175m (€202.7m/$227.5m) strategic minority investment in Romanian omni-channel sports betting and gaming operator Superbet.

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    GambleAware has reiterated calls for UK operators to offer further financial support its problem gambling efforts after revealing that industry funding failed to meet its 2018-19 target.

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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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    French gaming operator La Française des Jeux (FDJ) has set out plans to ramp up corporate social responsiblity (CSR) efforts as part of a wider effort to clamp down on issues such as underage gambling, fraud and money laundering.

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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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    Keith Alexander has said he will not sell any more of his shares in GVC Holdings while he is chief executive of the gambling giant. Earlier this month, Alexander sold 2.06m shares worth £13.7m (€16.0m/$18.0m).

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    The Gambling Awareness Trust has been established to tackle problem gambling-related issues in Ireland, with the independent charity to have access to over €1m (£854,400/$1.1m) in funding each 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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