Spanish gambling revenue grew 12.5% year-on-year in the first quarter of 2020, thanks to growth across all verticals including sports betting, despite the suspension of major sporting events from mid-March due to novel coronavirus (Covid-19).
Virtual sports and casino game developer Leap Gaming has seen gross gaming revenue rise 123% for the opening five months of 2020, with the business now expecting to post a profit in the third quarter of the year.
South African gaming and entertainment business Tsogo Sun Gaming said it lost an estimated ZAR400m in revenue as a result of the novel coronavirus (Covid-19) pandemic disrupting operations in its fiscal year ended 31 March, 2020.
The Danish Gaming Authority (Spillemyndigheden) has reported a 5.0% year-on-year decline in gambling revenue for the first quarter of 2020, days after revealing that land-based closures had not led to an increase in online play.
Finnish gambling monopoly Veikkaus has revealed that the shut-down of its retail gaming network and significantly reduced sports betting options, both due to the novel coronavirus (Covid-19) pandemic has cut revenue by around 40.6%.
Greek gaming operator OPAP has reported a 4.7% year-on-year increase in revenue for 2019, though the shut-down of its retail network in the country looks set to have a significant impact on revenue and earnings in 2020.
Spanish and Latin America-facing gaming operator Codere has reported a 5.9% year-on-year decline in revenue for 2019, after growth in European markets was offset by a currency fluctuations hitting the contribution from its Argentinean business.
Denmark’s regulated gambling market reported declines in gross gaming revenue across a number of core verticals, though a strong performance from the online casino vertical allowed the market to post year-on-year growth for 2019.
Toronto-listed supplier Bragg Gaming Group expects full-year revenue to come in at the high end of market expectations, allowing it to post positive earnings before interest, tax, deprecation and amortisation (EBITDA) for the first time.
Pennsylvania’s regulated sports betting market saw handle grow beyond $300m for the first time in November, thanks to a soaring mobile contribution, while online casino benefitted from a leap in table games stakes.
Bragg Gaming Group has reported revenue of CAD$10.0m for the third quarter of 2019, while starting tomorrow, the business will have a new finance chief as bwin.party veteran Stephen Prowse takes over the role from Ashkay Kumar.
Denmark’s regulated gambling market has reported a marginal year-on-year decline in revenue, with declines in revenue from land-based gaming machines and sports betting offsetting growth in online casino.
White label and gaming content provider Nektan has announced plans to raise £3.0m in working capital, as well as restructuring existing loan agreements, warning the business requires new funding to continue as a going concern.
Austrian gaming giant Novomatic has reported a 1.8% year-on-year fall in revenue for the first half of its financial year, with changes to gaming regulations in core markets such as Germany and Italy blamed for the decline. This led to significant increases in depreciation and amortisation, which drove down profit for the period.