Paddy Power owner lowers forecasts after “unfavourable” sports results November 2, 2021 Global sports betting and gaming business Flutter entertainment has revealed a cut to its full year guidance following a string of “unfavourable” sports results, despite strong quarterly results. The “customer-friendly” sports results over the course of the first 24 days of October, combined with the halt of its operations in the Netherlands, resulted in Flutter [...]
Game on: Aristocrat bets £2.7bn on takeover of gambling platform Playtech October 18, 2021 Gaming technology company Aristocrat is acquiring the entire issued and issued ordinary share capital of gambling platform Playtech for 680p in cash per share. The acquisition, made through a subsidiary of Aristocrat – Bidco – has an approximate value of £2.1bn on a fully diluted basis, with £2.7bn value on an enterprise value basis. “This [...]
NFT platform Sorare under investigation by UK gambling commission October 12, 2021 Sorare, a platform where users buy and trade NFT football cards to build a fantasy team, is under investigation by the UK’s Gambling Commission. In a statement the Commission said that “any activity completed on the site by consumers in Great Britain is outside of the gambling regulations that a licensed operator should comply with.” [...]
888 makes inroads in Colorado as part of US invasion plans September 7, 2021 888, a leading online betting company, has announced its expansion into Colorado with the launch of a joint product with Sports Illustrated. The company will launch a Sports Illustrated wagering experience ahead of the start to the National Football League (NFL) season. The infamous media brand will direct its 30 million monthly viewers to 888’s [...]
US casino operator Bally’s £2bn takeover of Gamesys inches closer August 11, 2021 The co-founder of British betting firm Gamesys has agreed to sell his shares in exchange for those of Bally’s, according to an announcement today, as the £2bn merger moves toward completion. In March Bally’s agreed in principle to buy UK firm Gamesys for $2.7bn (£2bn). Bally’s said it would pay 1,850 pence per share in [...]
Bookies’ body calls for Government-backed gambling ombudsman July 5, 2021 British gambling’s standards body has called for a Government-backed ombudsman to handle customer complaints. The industry has been under the spotlight during a Government-led Gambling Review launched at the end of 2020 after pressure from campaigners. Read more: Podcast: The City View, with Michael Dugher Today the Betting and Gaming Council (BGC) – which acts [...]
888 Holdings secures gambling licensing deal with Sports Illustrated June 24, 2021 888 Holdings has today announced an agreement to develop US media firm Sports Illustrated (SI) into betting and casino games in the US. The deal is the latest branding tie-up between an established betting company and a sports media brand, a model used in partnerships between Stars Group and Fox Bet. 888 plans to launch [...]
Gambling firm 888 Holdings continues momentum as revenue soars April 28, 2021 888 Holdings saw revenue rise by 56 per cent year-on-year during the first quarter of 2021 as the gambling firm continued to grow its casino and sports betting markets. Revenue shot up to $272.5m during the first quarter compared to $164.6m throughout the same period in 2020, outperforming board expectations. The rise was led by [...]
Sportech’s losses deepen as Covid hits betting firm’s trading April 1, 2021 Gambling firm Sportech’s pre-tax loss deepened in 2020 as Covid restrictions on trading battered the company’s operations. Sportech’s adjusted pre-tax loss worsened to £5.2m from £2 in 2019, while revenues fell 41 per cent to £20m. Meanwhile, gross profit fell by more than 27 per cent to £34m in 2020. Richard McGuire, chief executive of [...]
Gambling firms hail ‘huge’ economic contribution ahead of sector reform March 29, 2021 The UK gambling sector has doubled down on its “huge contribution” to the UK economy as it braces for the biggest shake-up of betting laws in the last 15 years. Betting shops, casinos and the online gaming sector contributed £7.7bn in gross value added to the UK economy in 2019, according to figures released today. [...]