Daily news

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    Gaming solutions giant Playtech has reported a 22.5% year-on-year decline in revenue for the first half of 2020, after a strong start to the period was halted by the impact of novel coronavirus on B2B and B2C operations.

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    Czech gaming conglomerate Sazka Group says it is showing signs of recovery following the novel coronavirus (Covid-19) shut-down, which resulted in revenue and profit falling in the first half of 2020.

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    Flutter Entertainment’s integration of The Stars Group business will see it migrate all sports betting brands to the solution powering its Paddy Power Betfair division, while it aims to significantly ramp up investment in PokerStars going forward.

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    New GVC Holdings chief executive Shay Segev has set out four key priorities that he believes can drive “significant growth” for the business, add value for stakeholders and entrench responsibility in everything it does.

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    GVC Holdings has reported an 11.2% year-on-year decline in revenue for the first half of 2020, after online growth failed to offset declines in UK and European retail resulting from the novel coronavirus (Covid-19) lockdown.

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    Digital media giant InterActiveCorporation (IAC) has acquired a 12% stake in MGM Resorts International, describing the investment as a “once in a decade” opportunity.

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    South African gaming and entertainment business Tsogo Sun has struck a deal move into the country’s sports betting market through the acquisition of a 50.1% stake in local land-based and online operator Betcoza.

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    Gaming solutions giant Playtech expects earnings for the first half of 2020 to reach €160m, after a strong performance from its online and financials divisions helped offset novel coronavirus’ (Covid-19) disruption to retail and sports in the period.

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    William Hill has reported a 31.7% year-on-year decline in revenue for the first half of its financial year, though a £230.7m value added tax (VAT) refund allowed the operator to post a £115.6m net profit for the period.

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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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    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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    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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    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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    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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    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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