Ted Menmuir

Codere fights for survival as debt bonds are classified to junk status

Codere SA is reported to be fighting for its survival, seeking new investment options to refinance its long-standing €900 million corporate debt bonds. Spanish business news source El Confidencial has reported that the Spanish gambling group has sanctioned Bank of America to lead renegotiations with bondholders for a further two-year extension on debt maturity terms which are set to expire in 2021. …

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FDJ secures ‘favourable’ €380m loan to repay French state duties

Française des Jeux (FDJ) has secured access to a €380 million syndicated loan, in which funds will be utilised to repay the French state’s agreed 25-year national lottery operating concession. Prior to becoming a publicly listed enterprise by floating on the Paris Euronext Exchange last November, the French government had granted FDJ a 25-year extension on its existing national lottery …

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BGC takes over The Senet Group’s duties and responsibilities

UK gambling standards association The Senet Group has this afternoon confirmed that it will transfer its responsibilities outright to the newly formed Betting and Gaming Council (BGC). Established in 2014, the Senet Group was initially formed by the UK’s legacy ‘Big 4’ high-street bookmakers’ Ladbrokes, Coral, William Hill and Betfred in a move to streamline industry responsibility standards. Significant achievements …

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Talk to Frank… Paddy Power launches first sitcom series ‘The Mascot’

Keeping audiences entertained during lockdown, Paddy Power has become the first bookmaker to launch a comedy mini-sitcom series titled ‘The Mascot’, which will be broadcast across its social media profile.  The four-part sitcom scripted by Noel Slevin and Steven Quick of Paddy Power’s Social Media team follows ‘Frank the Dinosaur’, the former disgraced mascot of Basildon Athletic FC.  The Mascot …

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Equine intervention maintains Rikstoto independence

Norway’s government has confirmed that state-owned racing operator Rikstoto will continue to function as an independent entity.   Last November, the Norwegian government ordered the Ministry of Culture to undertake a review of state-owned gambling assets, assessing whether its larger Norsk Tipping lottery and wagering franchise should absorb Rikstoto services. The Ministry’s review further evaluated whether Rikstoto’s state racing monopoly and …

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Werner Becher – Sportradar goes big on Simulated Reality to re-energise betting market

Last week, Sportradar announced the launch of ‘Simulated Reality’, which offers clients a new sports betting category matching real-life sports engagements. Speaking exclusively to SBC, Werner Becher, Sportradar Managing Director for US Betting, outlined the journey to launch and tech capacity for Simulated Reality – a product arriving at the most critical time for the industry. ______________ SBC: Can you explain …

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Italian sports calls to halt ‘Decree restrictions’ but government won’t listen

Leadership of Italian sports has urged the government to restore betting advertising for a 12-month period to support professional leagues, sports clubs, athletes and relevant stakeholders navigate COVID-19 disruptions. The call for a temporary suspension of Dignity Decree provisions on gambling advertising and sponsorship has been led by LEGA Serie A governance. Since July 2019, all Italian sports leagues have …

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Virtual Grand National success sees bookmakers donate over £2.6m to NHS Charities

The Betting and Gaming Council (BGC) has revealed that this weekend’s ‘Virtual Grand National’ (Saturday 4 April) raised ‘over £2.6 million’ in donations for NHS charities. The BGC said the event to replace UK racing’s marquee meeting was as an ‘unbridled success’, and was left delighted with the level of public engagement which saw a reported 4.8 million viewers tune-in to …

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Kindred suspends dividend payouts to protect company’s liquidity

Stockholm-listed Kindred Group Plc has reported a strong start to 2020 trading as part of a corporate update on COVID-19 developments but has been forced to suspend dividend payments as a result of the outbreak. Despite facing unprecedented circumstances, Kindred has forecasted group gross win revenues within the £247-252 million range, maintaining growth against Q1 2019’s £225 million.  This is …

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GVC promotes ‘proven talent’ Hurst to Group Corporate Affairs lead

GVC Holdings has this morning confirmed the promotion of Grainne Hurst to the position of Group Corporate Affairs Director, becoming a member of the FTSE250’s firm’s executive leadership team. Hurst has formerly served as GVC’s Director of Responsible Gambling, a position she held since the Group’s acquisition of the Ladbrokes Coral Group in March 2017, where she led the company’s …

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