Finance Daily News

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    Online gaming affiliate and content marketing business Raketech has reported a year-on-year decline in profit for 2018, despite enjoying a 49.0% increase in revenue.

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    Mobile games developer Gaming Realms has agreed to sell its B2C subsidiary Bear Group to River iGaming for a total consideration of £11.5m.

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    Portugal has posted €152.1m in online betting and gaming revenue for 2018, the second full year of regulation in the country, up 24% on the prior year.

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    Incoming Illinois Governor J.B Pritzker has raised hopes of legal sports betting in the state after including $200m in future tax revenue from wagering activities in his 2020 budget proposal.

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    UK’s leading credit providers have vowed to play their part in minimising problem gambling after the Gambling Commission announced the launch of a consultation on gambling with credit. UK Finance, a body which represents more than 250 firms across the UK’s finance and banking industry, will submit evidence to the regulator's new investigation

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    Australian gaming operator Crown Resorts saw a huge drop in its online figures following its sale of CrownBet. The group's Australian casinos also felt the impact of softer economic conditions in China.

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    iGaming affiliate marketing specialist Better Collective has reported a year-on-year decline in net and operating profit for 2018, despite a sharp rise in revenue.

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    888 Holdings has agreed a deal to acquire JPJ Group's Mandalay operating business, including the Costa Bingo brand, for a cash consideration of £18m (€20.6m/$23.3m). The deal will strengthen 888's UK presence, its CEO claims, while JPJ says the sale will allow it to pursue a single-brand strategy focused around Jackpotjoy. 

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    Betsson has reported year-on-year growth across revenue and gross profit for 2018, due in part to a record performance by the business in the fourth quarter.

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    iGaming platform provider Aspire Global has cited the introduction of new technology across its service offering as a key driver of a 45.5% year-on-year increase in revenue for 2018.

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    New Jersey’s gambling industry made a stunning start to 2019 by breaking its sports betting handle record by almost 20% and seeing online casino revenue pass $30m for the first time.

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    Australian gambling operator Tabcorp was today counting the cost of a year-on-year decline in revenue and profit in its wagering and media business, with its share price down by almost 4%.

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    Kambi Group has cited the renewal of contracts with various customers as one of the main reasons behind year-on-year growth across revenue and profit for 2018.

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    The acting CEO of Swedish gaming group Cherry hailed an "excellent" 2018, which saw huge gains in revenue and EBITDA, while plans were announced to delist the business from the Stockholm Nasdaq following its takeover by a consortium of investors.

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    LeoVegas saw a decrease in operating profit during 2018 as the company experienced what CEO Gustaf Hagman described as the “most challenging” year in its history

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    Inspired Entertainment has reported a year-on-year decline in revenue for the fourth quarter, with losses also widening to €4.7m in the transitional period.

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    Gaming technology supplier PlayAGS has completed its $49m (£38.1m/€43.4m) acquisition of slot route operator Integrity Gaming.

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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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    Stride Gaming has launched a strategic review of its operations that may culminate in the sale of the business, though is yet to receive any offers and may instead pursue its own M&A opportunities. 

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    Catena Media chief executive Per Hellberg has insisted the affiliate giant is not ready to turn its back on M&A opportunities after the company’s financial results revealed a slowdown in organic growth towards the end of 2018.

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