Retail

All the news from the retail betting sector

Codere founding family demands €900m compensation from US investors 

Grupo Codere SA is caught up in a further investor dispute, after the company’s founding Martinez Sampedro family demanded that their minority shareholding be acquired by the firm’s remaining US investors. The Martinez Sampedro family have filed an appeal with Spain’s National Securities Market Commission (CNMV), urging the regulator to demand that US investors acquire the family’s 14% stake in …

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HMRC reveals gambling receipts did not meet expectations for 2020/2021

HM Revenue and Customs (HMRC) has announced that gambling revenue for the 2020/2021 financial year fell below expectations, largely due to the economic impact of national lockdowns. Total tax receipts registered from April 2020 to March 2021 totalled £2.83 billion – a drop of £182 million or 6% when compared to 2019/2020 fiscal duties – attributed to COVID-19 lockdowns enforcing …

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IGT confirms Walter Bugno’s executive departure

IGT Plc has confirmed that long-term executive Walter Bugno has resigned from duties as the NYSE technology group’s Executive Vice President of New Business and Strategic Initiatives.  This morning, IGT notified investors that Bugno had chosen to end his 11-year tenure with the company to ‘pursue new professional opportunities‘ and will resign from all leadership duties on 14 May. A …

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SAZKA counts costs of volatile 2020 trading

SAZKA Group said that it will demonstrate the corporate benefits of its transformed group strategy, which saw its enlarged company units interrupted by the unprecedented events of a volatile 2020.   Publishing its full-year 2020 results, SAZKA group recorded ‘consolidated group revenues’ of €2 billion – up 6% on FY2019 corresponding results of €1.9 billion. However, excluding the performance of the …

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Horse racing announces support for social media boycott

The British Horseracing Authority (BHA) has announced that it will join other sporting organisations in this weekend’s social media boycott to highlight awareness of online racism and abuse. Horse racing will join the boycott from 9pm today (30 April), following a commemoration for Lorma Brooke, the amateur jockey who passed away of injuries from a racing accident this month, and …

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Vodafone backs Allwyn to be the National Lottery’s next steward

Telecoms giant Vodafone has backed the Allwyn bid to win the UK government’s Fourth National Lottery Licence competition. Vodafone has committed to serve as ‘connectivity partner’ of Allwyn’s National Lottery tender, helping digitise the National Lottery’s operations and services for a new generation of customers. Allwyn, the new British venture of Czech gambling conglomerate SAZKA Group, branded Vodafone’s backing as …

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Irish Senators debate responsibilities and launch date of gambling regulator

The topic of problem gambling has taken centre stage in the Irish Oireachtas, as Senators debated the introduction of Ireland’s independent gambling regulator set for 2023. Under the terms of the ‘Interim Gaming and Lotteries Act’, passed in December 2020, the government will conduct a large overhaul of Irish gambling regulations in 2021, with the aim of modernising existing legislation …

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Moody’s downgrades Codere after restructuring announcement

Moody’s Investors Service has downgraded the €500 million and $300 million instrument senior secured notes of Codere SA, following a restructuring agreement reached between the Spanish operator and its creditors last week. The ratings agency has made the decision to downgrade the two aforementioned senior secured notes from Caa3 to Ca, in addition to a €250 million super senior note, …

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