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.
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.
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.