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.
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.
IG Group has responded to the introduction of new advertising regulations by the French Autorité des marchés financiers (AMF) regulatory body, saying it does not believe such measures will have a negative impact on business.
It's Diary time! This week: the different approaches to betting and gaming machines in the UK and Oz, doing business in the CIS, we loooooovvvvve our f*****g red trousers!!, DFS (big) ad bucks and %%FIRSTNAME%%: when mailshots make you feel so valued.
The Financial Conduct Authority's investigation into Plus500 doesn't prevent the financial trading operator from recruiting UK customers, but through its Cyprus licence thanks to the regulatory passporting it benefits from under the EU's MiFID rules. As a result further regulatory interest into the workings of the financial trading and betting sector is almost certain, writes Scott Longley.
Playtech moved in quickly to snap up Plus500, describing it as "a unique opportunity", and is now a major player in the financial trading space. Much is made of the blurring of lines between trading and gambling, but both Playtech and Plus500 still very much operate on igaming metrics.
Playtech has been talking up the opportunities offered by forex and binary trading since its acquisition of financial trading platform TradeFX as it looks to roll out trading and financial betting products to its licensees. But what does the sector think of a vertical that can be as volatile as it can be profitable?
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