Ladbrokes owner Entain sees shares tumble as sales slide September 25, 2023 Shares in Entain, the London-listed owner of Ladbrokes, have tumbled to their lowest point since 2020, sharply falling over 11.5 per cent on Monday. The drop followed the company’s announcement of a decline in online net gaming revenue for both the third quarter and the full year. Entain blamed this on a combination of regulatory [...]
Gambling Commission chief says fines have caused industry ‘real distress’ September 5, 2023 The UK gambling watchdog’s boss has said escalating regulatory action and penalties have caused the industry some “real distress”.
Online gambling firm In Touch Games has licences to operate in Britain suspended September 2, 2023 Online gambling firm In Touch Games has had its licences to operate in Britain suspended by the industry regulator. The Gambling Commission suspended the firm’s operating licences as it carries out a review under section 116 of the Gambling Act 2005. It said it suspects the operator failed to follow licence conditions related to money [...]
Mecca Bingo owner hit by high energy costs and wage inflation – but bets on things improving August 17, 2023 Mecca Bingo owner Rank Group reported a 52 per cent decline in like-for-like underlying operating profit for the year as it was hit hard by energy bills and raising wage inflation. But, the gambling giant is also raising its outlook for the year as the economy stabilises. In April, the business raised its profit guidance [...]
Gambling giant 888 turns page from scandals with William Hill boost August 15, 2023 Betting giant 888 has said its acquisition of William Hill has helped boost its revenue up 165 per cent. The firm said in the six months ended 30 June, revenue flew up 165 per cent, with adjusted earnings before interest, tax, depreciation and amortisation up 211 per cent thanks to its purchase of world’s biggest [...]
Entain sets aside half a billion for investigation into alleged Turkish bribery offences August 10, 2023 Ladbrokes owner Entain has set aside an ‘eyewatering’ £585m to cover a potential settlement as it nears an end of a bribery investigation into its legacy Turkish facing business, launched in 2019. In an update posted this morning, the global betting giant said it has “a sufficient degree of confidence to take a provision of [...]
Flutter: Paddy Power and Betfair owner to list in the US after reaching profitability August 9, 2023 Flutter Entertainment, owner of betting giants including Betfair and Paddy Power, is preparing to list in the US as early as this year. The firm made the announcement as US and UK punters help drive its revenue up 38 per cent for the first half of 2023. Shares dropped over 3.5 per cent when the [...]
What is the Wrexham effect and how is it impacting sports betting? August 3, 2023 Wrexham AFC’s meteoric rise to fame, thanks to the docuseries ‘Welcome to Wrexham’ has caused sports betting to skyrocket in a phenomenon that has been dubbed the ‘Wrexham Effect’. Gambling giant Entain’s UK sportsbook reported a nearly 60 per cent surge in bets during the National League’s 2021-22 season compared to 2017-18 – the 2019-20 [...]
Chelsea fans’ group hail supporter power after Stake.com sponsorship deal axed July 6, 2023 The Chelsea Supporters’ Trust has welcomed suggestions that the Premier League football club has shelved a possible sponsorship deal with crypto betting platform Stake.com. Chelsea had been in talks to make Stake.com their new front-of-shirt sponsor for next season, replacing mobile network Three, which chose not to renew its £40m-a-year contract. The news provoked a [...]
Ladbrokes-owner Entain likely to face “substantial financial penalty” after bribery investigation May 31, 2023 Entain said it could face a “substantial financial penalty” following investigations into its business practices in Turkey by the Crown Prosecution Service (CPS). The Ladbrokers owner said the offences under investigation at its Turkish facing business, which it held between 2011 and 2017, include breaching the bribery act. Entain admitted that “historical misconduct involving former [...]