Retail

Debt burden sees Gala Coral post £49 million losses ahead of Ladbrokes merger

As UK gambling operator Gala Coral Group (Coral) prepares for its £2.3 billion merger with rival Ladbrokes, the company presented its latest H1 2016 results (28-week period ending 9 April), reporting core metric growth throughout all its products. Despite its strong core metric performance, Coral would report H1 interim losses of £49 million as the company looks to reduce its …

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William Hill – High Rollers favour UK ‘Remain’ vote

Detailing wagering insight on its UK ‘EU Referendum’ market, William Hill has revealed that its ‘High Rollers’ favour a ‘Remain’ outcome on 23 June. This week saw the majority of bookmakers shorten their odds on a UK ‘Leave’ vote to 2/1, offering the shortest price on the outcome since the market opened. Fighting for their cause, pro-Leave camps have stated …

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Sportech informs that HMRC will appeal £97 million VAT reclaim to Supreme Court

Updating the market betting technology provider Sportech Plc has announced that Her Majesty’s Revenue & Customs (HMRC) have applied to the Supreme Court for further permission to appeal its rescinded £97 million VAT repayment claim. The move by HMRC, follows last month’s decision by the UK Court of Appeal to rule in favour of Sportech Plc regarding its ongoing ‘Spot …

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Tatts Group rebrands all lottery assets

Continuing the restructure of its lottery division, Australian gambling operator Tatts Group has created unified brand ‘The Lott’, which will align the services of state lotto operators Golden Casket, New South Wales Lotteries, Tatts, South Australia Lotteries and Tatts Northern Territory. New brand ‘The Lott’ will be introduced this June throughout all Tatts Group lottery assets and delivery channels (desktop, …

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William Hill – Heightened media coverage sees Michael Gove backed to be next Tory leader

William Hill has shortened the odds on Michael Gove becoming the next Conservative Party leader from 20/1 to 4/1 second favourite behind former London Mayor Boris Johnson. Gove and Johnson have become the Tory party faces of the ‘BREXIT’ campaign, arguing in favour of Britain leaving the European Union in the upcoming referendum on 23 June. At the forefront of …

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Mark Jones departs as Grosvenor Casinos MD

UK business news sources have reported that Grosvenor Casinos Managing Director Mark Jones has left parent firm Rank Group Plc, to join UK football pitch operator Goals Soccer Centres (Goals) as new Chief Executive Officer. A leisure industry expert, Jones departs Rank Group following seven years’ service where he held leadership roles including MD of Mecca Bingo (2009-2014) and MD …

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German DSWV strengthens policy arm with Dr Bastian Scholz appointment

German trade association for the sports betting industry Deutsche Sportwettenverband (DSWV) has strengthened its governance by appointing Dr Bastian Scholz to the new position of Policy Advisor. Scholz an expert in German national public policy has undertaken numerous research projects for political party Christian Democratic Union (CDU).  Scholz further holds a doctorate from specialist engineering university ’ Technische Chemnitz’ and …

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Significant market activity sees UK bookmakers slash odds on EU Referendum ‘Leave’ vote

Bookmakers believe that the outcome of the UK ‘EU Referendum’ (23 June) is set to go down to the wire as ‘Leave’ and ‘Remain’ camps enter their final weeks of public campaigning.   Just as ‘Leave’ had reached its longest odds, with the majority of UK bookmakers pricing the outcome at 7/1. This week bookmakers have moved to slash the …

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Boyd Gaming sells 50% stake in Borgata to MGM International

US casino and leisure operator Boyd Gaming Corporation (Boyd) has agreed to sell its 50% stake in Atlantic City’s Borgata casino complex to MGM Resorts International (MGM) for a reported $900 million. Boyd’s stake is set to be acquired by MGM property subsidiary ‘MGM Growth Properties’ with the deal expected to be completed by Q3 2016. MGM will take over …

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Intralot signs contract extension in the Philippines

Intralot has signed a contract extension with Pacific Online Systems Corporation (POSC), a public listed company that runs the games of the Philippines Charity Sweepstakes Office (PCSO). The contract will run until 31st August 2008, and represents the 5th amendment between the two parties since the first cooperation in 2006. Under the terms of the extension contract, Intralot will continue …

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