Entain: Ladbrokes owner will raise £600m to fund takeover of Poland’s largest bookie June 14, 2023 Ladbrokes owner Entain told markets this morning that it will raise £600m via the placing of shares which will help fund its latest acquisition of a Polish betmaker and other near term deals. The betting giant said yesterday that it would takeover STS Holding S.A – Poland’s largest bookies – in a deal worth £750m. [...]
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 [...]
Ladbrokes owner gambles on media expansion, buying 365scores for £128m April 5, 2023 Entain has bought 365scores in a deal worth up to $160m (£128m) as the betting giant hopes to expand its global reach. The Ladbrokes owner will pay $150m plus contingent payments of up to $10m for the Israeli sports media company. 365scores has 15m active users and a “fast growing” audience. It provides sports information, [...]
Gambling crackdown continues as William Hill told to pay record £19.2m fine over ‘widespread and alarming’ failures March 28, 2023 Three gambling businesses owned by William Hill will pay a total of £19.2 million for “widespread and alarming” social responsibility and anti-money laundering failures, the Gambling Commission has announced. The settlement is the largest in the Gambling Commission’s history. WHG (International) Limited, which runs williamhill.com, will pay £12.5 million; Mr Green Limited, which runs mrgreen.com, [...]
Ladbrokes and Coral owner Entain braces itself for regulation and take over speculation despite World Cup profit boost March 9, 2023 Ladbrokes and Coral owner Entain has forecast regulatory headwinds as it revealed a 13 per cent rise in profits driven by punters betting during the Qatar World Cup. Entain posted profits of £993.2m up 13 per cent from £881.7m in the same period last year. As the group continues its expansion in the US market [...]
FTSE 100 close: London index breaches 8,000 mark for first time ever despite Barclays tumbling February 15, 2023 London’s FTSE 100 today breached the 8,000 point mark for the first time ever despite Britain’s biggest banks tanking after Barclays posted a big profits drop. Today’s move higher crystalises the premier index’s bullish start to 2023 that has seen it surged more than seven per cent. The new year rally builds on advances that [...]
Share price plunges for Ladbrokes owner Entain as MGM boss quashes takeover speculation February 9, 2023 Shares in gambling group Entain plunged this morning after the boss of potential suitor MGM quashed talks of a possible takeover. The FTSE 100 Ladbrokes owner and US resort giant MGM currently operate a US joint venture BetMGM, which has seen bumper growth and is expected to start delivering profits later this year. The bumper [...]
FTSE 100 close: London index runs out of steam ahead of expected Fed interest rate hike February 1, 2023 London’s FTSE 100 edged higher this morning, before running out of steam later in the day ahead of the US Federal Reserve launching a big week for central banks with an expected 25 basis point interest rate hike. The capital’s premier index eventually fell 0.17 per cent to 7,758.21 points, while the domestically-focused mid-cap FTSE [...]
Ladbrokes and Coral owner Entain gambles on men’s World Cup boosting its earnings February 1, 2023 Entain, the gambling giant behind Ladbrokes and Coral, has raised it earnings guidance after a strong final quarter of 2022. The sports betting and gaming group said net gaming revenues increased by 11 per cent in the quarter to December 31, compared with a year earlier, as it witnessed a “record” number of active customers. [...]
Betting firms warn affordability checks chipping at revenues December 12, 2022 Betting firms have called on the government to publish the long-awaited gambling white paper after a new study finds affordability checks are already chipping at revenues.