Will Hill high street shops set for bidding war May 2, 2021 Caesars Entertainment is reportedly set to put Willian Hill’s non-American assets up for sale in the coming weeks. The Vegas giant bought the British high street stalwart in a deal worth just shy of £3bn last month, but is believed to be keen to offload the UK and European arms of the firm. Read more: [...]
Entain hikes offer for Aussie bookie Tabcorp to £1.9bn April 27, 2021 Entain this morning hiked its offer for Australia’s biggest bookies Tabcorp to AU$3.5bn (£1.9bn), the FTSE 100 firm has confirmed. An initial approach worth AU$3bn was batted back by the company in February, but this morning Entain redoubled its pursuit. In a statement, it said: “Entain believes that the revised proposal is compelling both in [...]
Shop closures weigh down Ladbrokes owner Entain despite online surge April 15, 2021 Ladbrokes owner Entain saw net gaming revenue shrink in the first quarter as the closure of its bookies due to Covid-19 restrictions offset rising online revenues. Although online net gaming revenue grew 33 per cent for the three month period – the segment’s 21st straight quarter of double digit growth – overall revenue fell 13 [...]
Online play drives Ladbrokes owner Entain to profit March 29, 2021 Online gaming was the driving factor behind a profit at gambling company Entain, which owns Ladbrokes, Foxy Bingo and Party Poker. The business saw an operating profit of £530m in 2020, up two per cent on £521m, with some 89 per cent of EBITDA coming from its online presence. EMBITA grew 11 per cent [...]
Jackpotjoy-owner Gamesys agrees £2bn takeover deal with US casino owner Bally’s March 24, 2021 US casino owner Bally’s has agreed a takeover deal for Jackpotjoy-owner Gamesys in a move which could value the UK firm at more than £2bn. Shares in online gambling firm Gamesys soared after Bally’s told US investors it had agreed on key terms regarding a potential deal. Bally’s Corporation, which operates casinos and racetracks in [...]
FTSE 100 closes in the red as Astrazeneca doubts weigh on index March 15, 2021 The FTSE 100 closed in the red this afternoon as growing doubt over the efficacy of the Astrazeneca vaccine weighed on hopes for a swift economic recovery from the pandemic across Europe.
Flutter mulls spinning off Fan Duel sports betting brand in US March 14, 2021 Paddy Power owned Flutter is mulling spinning off its Fan Duel brand in order to capitalise on the growing US sports betting market. Over the weekend the FTSE 100 firm confirmed it was looking at listing part of the brand on a US exchange, it was reported. Having first invested in Fan Duel in 2018, [...]
Ladbrokes owner Entain back in black on rapid US growth March 4, 2021 Ladbrokes owner Entain today swung back into the black as rapid growth from its US joint venture pushed revenue higher. The FTSE 100 firm posted profit of £113.8m in 2020, compared with a loss of £131.2m the year before. Revenue and gross profit were both flat at £3.5bn and £2.3bn respectively, while earnings rose 10 [...]
Aviva reports record group protection sales as it sells off Italian business March 4, 2021 Insurance giant Aviva has reported operating profit remained stable even in the face of the pandemic amid a sale of its Italian and French division. The insurer reported operating profit of £3.16bn while its core business cash remittances rose marginally to £1.4bn. The FTSE 100 company said it had delivered record sales in group protection [...]
Sports streaming firm DAZN taps former Disney executive Kevin Mayer as chair March 3, 2021 Sports streaming service DAZN has appointed former Disney executive Kevin Mayer as its new chairman. DAZN, which is backed by billionaire Len Blavatnik, said Mayer will lead the nascent streaming platform as it pursues an “aggressive” growth strategy. He replaces John Skipper, who is stepping down to focus on Meadowlark Media, a newly-launched content company [...]