Spread betting and contracts for difference (CFD) provider IG Group said high levels of trading activity among existing clients and new customer growth helped grow revenue 61.9% year-on-year in the first quarter of its fiscal year.
Gaming solutions giant Playtech expects earnings for the first half of 2020 to reach €160m, after a strong performance from its online and financials divisions helped offset novel coronavirus’ (Covid-19) disruption to retail and sports in the period.
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.
Spread betting and contracts for difference (CFD) provider IG Group Holdings expects revenue for the first half of its 2020 financial year to match the prior year's £250m (€296.4m/$328.5m) total, despite a year-on-year decline in revenue from core markets.
Spread betting and contracts for difference (CFD) provider IG Group Holdings has cited the impact of new European Securities and Markets Authority (ESMA) regulations as the primary reason behind a 16% year-on-year drop in revenue in its 2019 financial year.
Playtech has reported a 54% year-on-year increase in revenue for 2018, though growth for the year was largely down to the acquisition of Italian operator Snaitech, with the solutions giant’s B2B division struggling.
The UK’s Financial Conduct Authority (FCA) has today (Tuesday) proposed a new set of rules for firms selling contract for difference (CFD) products to retail customers in an effort to improve standards across the sector.