Detailing an ambition to remain at the forefront of technology development and innovation, LeoVegas Group has launched a tech hub in Warsaw. The international gambling group plans to hire 60 developers at the new Warsaw site over the next two years alongside ongoing recruitment in the UK, Sweden and Netherlands. LeoVegas has identified a “growing demand” for technological development in …
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Gaming Industry For Ukraine secures £190k in donations
The gambling industry’s fundraiser to support the Ukrainian public, Gaming Industry for Ukraine, has made strides towards achieving its £250,000 target. Issuing an update this morning, the initiative – which provides financial backing to the Choose Love charity’s Ukraine Crisis Fundraiser – detailed that it has secured £190,000 in donations from betting operators in the past week. Companies to have …
Read More »Aspire Global and BETER terminate Russian business relationships
Aspire Global has made the decision to close its contract with Sports Lotteries LLC, the operator of the Russian National Lottery, whilst BETER has also ended its business relationships in the country. The Malta-based sports betting and gaming software provider has cited ‘a different business view’ to Sports Lotteries as its primary motivation behind the partnership termination. However, amid widespread …
Read More »Genius Sports latest betting industry player to end Russian activity
Genius Sports has confirmed that it will no longer continue commercial operations in Russia and Belarus, as a result of the ongoing conflict in Ukraine. Russia’s unprovoked invasion of its western neighbour has prompted widespread international criticism, including from the public, political and business areas. By calling an end to its Russian operations – as well as activities in Belarus, …
Read More »EL calls for peace in Ukraine as LeoVegas ceases bets on Russian sports
The Russian invasion of Ukraine is now in its ninth day, and criticism from a range of political arenas and economic areas has continued to mount, including the betting space. Issuing a statement today, the European Lotteries and Toto Association (EL) criticised the invasion and called for peace, whilst LeoVegas has become one of the latest businesses to limit its …
Read More »ZeTurf’s ZEbet.nl joins KOA sports betting ranks
Kansspelautoriteit (KSA), the Netherlands gambling regulator, has issued a short statement confirming that it has granted a KOA remote gambling licence to domestic incumbent ZEbetting & Gaming Nederland BV. The licence will allow ZEbetting to maintain its status as the official operator of betting and totaliser services for Dutch horseracing offered by ZEturf.nl, whilst allowing the company to expand its …
Read More »LeoVegas to broaden new market horizons to counter Euro drags
LeoVegas AB has posted stagnant financial results, with corporate performance dogged by market exposures to changed regulatory conditions within the Netherlands and Germany. Publishing its Q4 trading statement, the firm saw its period like-for-like corporate revenues maintained at €98 million. The Stockholm-listed operator informed investors that “excluding Germany and the Netherlands”, period revenues would have increased by 26%. Q4 adjusted …
Read More »Due diligence breaches see Unibet sanctioned by Danish authorities
Unibet has faced enforcement actions by the Spillemyndigheden, the Danish Gambling Authority, for breaches of anti-money laundering and due diligence requirements. The Kindred Group brand has been accused of failure to comply with due diligence rules and allowing a player to deposit DKK 1.4 million to his account between December 2016 and December 2018 without ‘sufficient knowledge about whether or …
Read More »Malta triple tax exposure threatens domicile of tier-1 operators
Malta is set to introduce a new corporate tax rate in 2023, according to the Times of Malta, which could have a substantial impact on the revenue of a number of international businesses registered on the island. Quoting government sources, the outlet stated that between 18 and 20 foreign companies could pay up to three-times as much tax as they …
Read More »LeoVegas performance in key markets offsets regulatory hurdles
Successes in Italy, Sweden, Spain and Canada have helped LeoVegas to navigate a difficult year, with German and Dutch regulatory changes in particular posing major challenges. Updating stakeholders in its Q3 trading update, the Nasdaq-listed gambling group detailed that its total revenue had increased by 12% to €99.4 million (2020: €88.9m), while EBITDA stood at €11.5 million (2020: €11.9m) – …
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