Daily news

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    The Horseracing Betting Levy Board (HBLB) has warned that the Levy for the UK industry in 2018-19 is set to fall short of expectations by some distance, with forecasts placing the sum paid to the industry down by £17m (€9.4m/$21.7m) from the previous year.

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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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    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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    London-listed igaming service provider GAN has credited higher than expected growth in New Jersey’s legal sports betting market for first quarter revenue growing to £4.6m, a new company record.

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    Unibet operator Kindred Group has reported an 8.0% year-on-year rise in revenue for the first quarter of 2019, though has seen earnings impacted by costs associated with its launch in Sweden’s newly regulated igaming market.

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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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    Digital performance marketing solutions provider XLMedia has reported a 14.4% decrease in revenue for 2018, which it attributed to a number of regulatory issues impacting performance over the year.

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    The Stars Group has reported a 54.6% increase in revenue for 2018, with the strong organic growth of the PokerStars operator complemented by contributions from the newly acquired Sky Betting & Gaming and BetEasy businesses. However the company posted a loss for the year, due to soaring administrative costs, increased investment in sales and marketing and finance-related expenses.

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    US racetrack and casino operator Churchill Downs Incorporated (CDI) has finalised its acquisition of certain ownership interests of Midwest Gaming Holdings, the parent company of Rivers Casino Des Plaines in Illinois.

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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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    Betclic Everest Group subsidiary Bet-at-Home has reported a 2.3% decline in net betting and gaming revenue for 2018, blaming the decline on increased fees and levies paid out over the year.

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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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    US racetrack and casino operator Churchill Downs Incorporated (CDI) has cited its racing and online advance deposit wagering (ADW) divisions as key drivers of a 14.3% year-on-year increase in revenue for 2018.

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    DraftKings has agreed a multi-year partnership with Caesars Entertainment that will give the operator access to a number of state gambling markets as and when regulation is passed.

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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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    Gaming Innovation Group (GiG) has reported a 26% year-on-year increase in revenue for 2018, saying it was reaping the benefits of the £16m invested in technology and product development over the year.

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