Daily news

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    Bragg Gaming Group has reported revenue of CAD$10.0m for the third quarter of 2019, while starting tomorrow, the business will have a new finance chief as bwin.party veteran Stephen Prowse takes over the role from Ashkay Kumar.

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    iGaming content developer and aggregation platform provider Relax Gaming has named former Kindred Group executive Tommi Maijala as its new chief executive, with his predecessor Daniel Eskola shifting to a new role as chief commercial officer.

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    The Deutsche Automatenwirtschaft (DAW), the umbrella organisation for Germany’s gaming machine associations, has highlighted a number of key issues that must be addressed as lawmakers prepare to begin discussions over the re-regulation of the country’s gambling market.

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    NetEnt chief operating officer Björn Krantz has left the slot specialist after more than ten years, iGamingBusiness.com has learned. Following his departure, the company is to restructure its commercial teams into a single unit. 

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    Stockholm-listed casino games developer NetEnt has agreed the first acquisition in its history, with a deal to take control of slot specialist Red Tiger Gaming worth up to £220m.

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    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.

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    Dutch gambling regulator the Kansspelautoriteit (KSA) has published its final duty of care guidelines, following a public consultation on the player protection measures.

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    Following the news that its Swedish operating licence had been revoked, Global Gaming has pledged to fight the decision. Earlier today Swedish regulator Spelinspektionen cited significant failings in the operator's social responsiblity and anti-money laundering controls as grounds for removing the certification.

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    JPJ Group has entered into a conditional agreement to acquire the majority of its technology partner Gamesys’ assets for a total consideration of £490m (€549.8m/$620.9m).

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    Greek lottery and gaming solutions provider Intralot has reorganised its operations, technology, digital and commercial divisions as part of a wider restructuring of the business.

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    LeoVegas has reported an 11.6% rise in revenue for the first quarter of 2019, though growing costs saw the Stockholm-listed gaming operator post a €31,000 (£26,611/$34,757) loss for the period.

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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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    Gaming platform and services provider Nektan has reported a 5.9% year-on-year increase in revenue for the third quarter of its financial year, though noted that performance in the period was impacted by a number of factors.

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    Gaming solutions giant Playtech has appointed Anna Massion and John Krumins as non-executive directors of the business, with immediate effect.

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    The Responsible Gambling Strategy Board (RGSB) has said that the 2016-19 National Responsible Gambling Strategy achieved a number of key milestones, but ultimately failed to make as much progress as hoped in tackling gambling-related harm in Great Britain.

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    The Stars Group chief executive Rafi Ashkenazi believes the operator can achieve double-digit growth in highly competitive and mature UK market in 2019, by leveraging the Sky Betting and Gaming assets acquired in 2018.

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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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    Igaming platform and software provider GAN has said that it expects revenue for 2018 to come in ahead of market expectations after the business was boosted by a strong performance in the second half of the year.

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