Finance Daily News

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    H2 Gambling Capital has downgraded its gross win forecast for the global gambling sector by just $1bn this week, taking the total decline below pre-outbreak expectations to 21.7%.

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    Australian gaming machine supplier Aristocrat Leisure has said a deferred tax asset of approximately AUD$1.0bn (£537.8m/€598.2m/US$657.7m) meant it was able to post $1.6bn in comprehensive profit for the first half of its financial year.

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    iGaming software supplier and white label solutions provider EveryMatrix has named Samoil Dolejan as the new chief executive of its MoneyMatrix payment processing business.

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    Daily fantasy sports provider Scout Gaming Group has revealed that a 148.6% year-on-year increase in revenue during the first quarter helped to reduce its losses for the period.

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    Gambling tech giant Playtech has revealed it was able to perform as expected in the first quarter, experiencing a strong trading period despite its business being impacted by the novel coronavirus (Covid-19) pandemic.

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    Performance marketing specialist Atemi has reported a year-on-year rise in revenue and new depositing customers (NDCs) during the first quarter, while the business is forecasting forecast further growth in Q2 despite the ongoing novel coronavirus (Covid-19) pandemic.

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    Australian gambling operator Tabcorp has announced it will not pay a dividend in relation to its 2020 financial year as part of its response to mitigate the impact of the novel coronavirus (Covid-19) pandemic on the business.

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    Inspired Entertainment has seen its acquisition of Novomatic's Gaming Technology Group contribute to a rise in Q1 revenue, though costs associated with the deal have resulted in the supplier posting a net loss of $17.4m for the quarter.

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    Nigeria's National Lottery Regulatory Commission (NLRC) has assured sports betting operators in the country that the national government will continue to provide support to help businesses remain viable drying the novel coronavirus (Covid-19) pandemic.

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    The Horserace Betting Levy Board (HBLB) is to increase the amount of prize money on offer during the first 10 weeks of UK horse racing when the sport returns in June, to help offset money lost during the novel coronavirus (Covid-19) enforced suspension.

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    Affiliate marketing giant Better Collective has reported a year-on-year increase in revenue and profit for the first quarter, despite growth slowing towards the end of the period due to the novel coronavirus (Covid-19) pandemic.

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    William Hill has reported a 57% year-on-year decline in net revenue during the seven weeks to 28 April as almost all areas of the bookmaker’s business were negatively impacted by the novel coronavirus (Covid-19) pandemic. However, the operator has significantly reduced outgoings and taken advantage of government support, and now expects the impact on earnings to fall below its initial projections.

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    The Delaware Lottery has revealed a 39.0% year-on-year rise in online gambling revenue for April, aided by a hike in new registrations over the month.

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    The New Jersey Division of Gaming Enforcement has reported a 68.9% year-on-year drop in gaming revenue for April, after the novel coronavirus (Covid-19) pandemic shut down casinos and suspended sporting events.

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    The Michigan Gaming Control Board has revealed that revenue generated by the three commercial casinos in Detroit was down 39.2% year-on-year during the four months to the end of April 2020.

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    Online affiliate and content marketing provider Raketech has said that despite experiencing a 76.6% year-on-year decline in profit during the first quarter of 2020, it was a “stable” period of trading for the business.

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    The UK’s Betting and Gaming Council (BGC) has praised the government for its decision to extend the novel coronavirus (Covid-19) furlough scheme through to October, saying this will help to protect thousands of workers in the gambling sector.

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    Swedish operator Svenska Spel has extended its partnership with the Swedish Sports Federation until the end of 2020, in a deal that will see a further SEK17m (£1.4m/€1.6m/$1.7m) distributed to organisations across the country.

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    Caesars Entertainment Corporation (CEC) reported $123m in comprehensive profit for the first quarter of 2020, despite experiencing a year-on-year drop in revenue due to enforced casino closures as a result of the novel coronavirus (Covid-19) outbreak.

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    Allied Esports Entertainment, the esports event business that includes World Poker Tour (WPT), has posted increased losses and lower revenue for the first quarter of 2020, due in part to the novel coronavirus (Covid-19) global pandemic.

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