Sweden’s former horse racing monopoly operator Aktiebolaget Trav och Galopp (ATG) has reported a 6.6% year-on-year rise in net gaming revenue for 2019, despite a decline in income from horse racing betting in the country.
Spread betting and contracts for difference (CFD) provider IG Group Holdings has reported a year-on-year decline in revenue and profit in the first six months of its financial year, primarily due to the impact of new European Securities and Markets Authority (ESMA) regulations.
Affiliate marketing specialist XLMedia’s shares declined 29.4% as it announced recent changes to the Google rankings of its sites have led to a “significant decrease in traffic” that would hurt the company’s revenue.
GVC Holdings, owner of the Ladbrokes Coral and bwin.party businesses, has said that it expects to post a year-on-year increase in revenue for 2019, primarily due to growth within its online division offsetting a decline in its UK retail business.
The stated aim to the Danish government in raising online gambling taxes is to level the playing field with land-based gambling taxes and raise extra tax revenue. However the move is also likely to cause a fall-off in gambling advertising as smaller and medium-term operators exit the market, according to market participants and commentators, writes Scott Longley.
The Rank Group has said that it is likely to post better-than-expected operating profit for the 12 months through to 30 June, 2020, due to positive trading within its digital and Grosvenor Casino and international land-based venues businesses.
Problem gambling funding body GambleAware has revealed that GVC Holdings pledged to donate the most money in the nine months to 31 December 2019, despite not adding to the amount it committed to in the first half of the year.
Players in Pennsylvania spent a total of $1.26bn on legal sports wagering in the first half of the state’s 2019-20 financial year, while revenue for the regulated market reached $91.4m during the period.
Unibet operator Kindred has issued a trading update revealing that weak sports betting margins could see the group’s earnings for the fourth quarter of 2019 fall by as much as 50% to £27m-£32m. (€31.5m-€37.3m/$35.0m-$41.5m)
The Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Great Britain Gambling Commission have signed a Memorandum of Understanding (MoU) to allow both agencies to share regulatory and compliance information.
William Hill has revealed that it expects to post better-than-expected adjusted operating profit for the year ended 31 December, 2019, with the bookmaker forecasting that the final figure will fall between £143m (€167.0m/$185.8m) and £148m.