PointsBet posted a 139.7% increase in net win revenue to AUD$18.7m (£9.7m/€11.2m/US$12.2m) in the third quarter of its fiscal year on the back of Australian and US growth, but costs continued to outpace revenue as the operator fell to a $15.5m loss for the year.
The eligibility requirements for the Paycheck Protection Program (PPP) have been amended to allow small gambling businesses to benefit from the fund, following an intense lobbying effort from the American Gaming Association (AGA).
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).
Spread betting and contracts for difference (CFD) provider IG Group says it has benefitted from “exceptionally high levels” of financial market volatility caused by novel coronavirus (Covid-19), which has resulted in significant revenue growth in Q4 to date.
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.
Sports betting services provider Kambi Group has reported a year-on-year rise in revenue and profit for the first quarter, despite its business being impacted by the global novel coronavirus (Covid-19) pandemic.
Finnish gambling monopoly Veikkaus has revealed that the shut-down of its retail gaming network and significantly reduced sports betting options, both due to the novel coronavirus (Covid-19) pandemic has cut revenue by around 40.6%.
Canadian media business theScore has revealed that an increase in spending, mainly related due to its expansion efforts in North America, led to it posting a net loss of $14.6m in the first half of its financial year.
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.
The recently formed Gamesys Group has suspended all non-targeted customer marketing, including television and radio advertising, to protect customers and minors under lockdown as a result of novel coronavirus (Covid-19).
Evolution Gaming has put a year-on-year rise in revenue and profit during the first quarter down to a rise in demand for its products, as a result of the absence of sports betting elsewhere due to the novel coronavirus (Covid-19) pandemic.
Nederlandse Loterij, the Netherlands’ state lottery operator, has reported a 12% year-on-year increase in turnover in 2019, with its contribution to sporting federations, charities and the public purse rising to €173.1m for the year.