Daily news

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    Rank Group, the parent company of Mecca Bingo and Grosvenor Casinos, has finalised its acquisition of online casino and bingo operator Stride Gaming. Stride Shares will cease trading on AIM at 7.00am on October 7.

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    Åland Islands-based operator Paf has lowered its maximum annual loss limit from €30,000 to €25,000.

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    Liechtenstein’s two casinos combined to bring in CHF53.5m (£43.5m/€48.9m/$53.6m) in 2018, its first full year with casinos, according to the Department of Economic Affairs’ annual report.

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    Board members at Flutter and The Stars Group further outlined the details of the synergies from the companies’ mega-merger, while also assuring stakeholders that the deal would pass any competition-related hurdles.

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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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    State-wide gambling revenue in Pennsylvania amounted to $3.29bn in the 2018-19 financial year as the introduction of legal sports betting and higher income from slots gaming boosted the state .

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    Online betting and gaming technology provider GAN has said that stronger-than-expected demand for its sports betting services in the US helped to drive gross operator revenue up 202.7% year-on-year during the third quarter.

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    The Rhode Island Lottery has reported a month-on-month increase in sports betting revenue in August after punters spent over $10m (£8.1m/€9.2m) on legal wagering during the month.

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    Nevada’s sportsbook handle for the month of August remained behind New Jersey for August, despite a 22.1% increase to $287.8m, while overall casino revenue slipped back below $1bn at $952.4m.

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    Betting exchange operator Smarkets slipped to a pre-tax loss of £8.9m (€10.0m/$11.0m) in the 12 months ended December 31, 2018, despite recording a sharp increase in trading volume for the period.

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    JPJ Group, owner of the JackpotJoy brand, has completed the £490m acquisition of a number of assets from its long-term technology partner, and will begin a new era as Gamesys Group from tomorrow (27 September).

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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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    Gaming Realms has put an 18% year-on-year rise in revenue primarily down to growth within its licensing division, while the mobile games developer was also able to cut its pre-tax loss in the period.

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    Venture capital fund Vereeni Investments has acquired a stake in India-facing fantasy sports operator Nostragamus for an undisclosed, seven-figure sum.

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    XLMedia has put a 10% year-on-year decline in revenue during the first half of the year primarily down to regulatory headwinds, while the digital marketing service provider also saw gross profit slip 9% in the period.

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    The GB Gambling Commission has given its approval to Rank Group’s proposed acquisition of online casino and bingo operator Stride Gaming. The bid, tabled in May, values Stride at £115.3m (€130.6m/$143.6m).

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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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    Gambling operator Betsson has placed SEK1bn (£82.3m/€93.4m/$103.3m) in senior unsecured bonds, attracting interest from a number of large institutional investors throughout the Nordic region.

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    Affiliate marketing giant Better Collective has purchased a 19.99% stake in gambling intelligence software solutions provider Mindway AI for DKK4m (£471,688/€535,718/$592,728).

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    White label and gaming content provider Nektan has announced plans to raise £3.0m in working capital, as well as restructuring existing loan agreements, warning the business requires new funding to continue as a going concern.

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