Daily news

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    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.

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    Gambling software provider GAN has set out plans for its initial public offering (IPO), through which it aims to raise up to $34.5m.

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    Mobile-focused games developer Gaming Realms has reported a comprehensive loss of £5.4m (€6.6m/$7.1m) for 2019, despite its licensing business driving a year-on-year increase in revenue.

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    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).

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    Caesars Entertainment has launched a new assistance fund to support staff and local communities across the US negatively impacted by the outbreak of novel coronavirus (Covid-19).

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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 has appointed Johan Wilsby, formerly of eye-tracking technology company Tobii as chief financial officer, replacing Albin de Beauregard in the role.

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    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.

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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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    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.

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    H2 Gambling Capital has further downgraded its revenue forecast for the global gambling market as the novel coronavirus (Covid-19) pandemic continues to disrupt the sector.

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    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%.

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    Norwegian gaming monopoly Norsk Tipping has revealed that it distributed over NOK5.5bn (£417.2m/€478.4m/$515.3m) from its profits to good causes across the country during 2019.

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    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.

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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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    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).

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    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.

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    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.

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