Daily news

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    Betting technology supplier Sportech says efforst to reduce operational costs in the first half of its fiscal year helped to partially offset a “severe” decline in revenue, caused by the novel coronavirus (Covid-19) pandemic.

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    A new survey by the UK government reveals that gambling businesses are split over whether they can withstand the disruption caused by novel coronavirus (Covid-19), though a significant number of respondents reported revenue being wiped out by lockdown.

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    Online wagering solutions provider BetMakers Technology Group has raised AUS$35m (£19.2m/€21.5m/US$24.1m) through a new share placement, with the new funds to be used to execute its US expansion plans.

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    The Betting and Gaming Council (BGC) has revealed that its five largest members will spend £100m (€111.4m/$125.4m) on improving treatment services for problem gamblers in the UK.

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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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    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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    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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    Intralot believes the impact of novel coronavirus (Covid-19) on the business is yet to reach its peak, and does not expect to return to normal levels of activity until November this year.

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    Shareholders of Diamond Eagle Acquisition Corp. have approved the acquisitions of DraftKings and SBTech and the public listing of the new entity.

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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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    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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    Kambi Group has revealed that it expects to achieve a year-on-year increase in revenue for the first quarter of 2020, while the sports betting service provider has set out a series of cost-saving measures to help mitigate the impact of novel coronavirus (Covid-19).

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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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    iGaming operator and supplier Newgioco has reported a decline in sports betting revenue in March, though this has been mitigated in part by growth in other verticals.

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    Poland’s Association of Employers and Employees of Bookmakers has called on the country's government to step in and help the sector avoid significant job losses as a result of the novel coronavirus (Covid-19) pandemic.

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    New Zealand Racing and the TAB have taken the decision to close all retail sites and temporarily suspend racing after the national government announced that it would move the country to Alert Level 4 of the Covid-19 alert system later today (25 March).

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    Sweden-facing operator Svenska Spel has announced that it will make a further SEK5m (£412,970/€444,748/$481,213) in grants available this year to research projects focused on gambling addiction.

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    Penn National Gaming has appointed David William, a Apple executive, as its new chief financial officer and executive vice president with effect from 3 March.

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    William Hill has revealed that it expects to post better-than-expected adjusted operating profit for the year ended 31 December, 2019, with the bookmaker forecasting that the final figure will fall between £143m (€167.0m/$185.8m) and £148m.

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