Retail

Veikkaus begins ‘transformation programme’ for monopoly closure 

veikkaus

Veikkaus, Finland’s gambling and lotteries monopoly, has initiated a ‘transformation programme’ to brace itself for a significant ‘system change’ in Finnish gambling. The company anticipates that proceedings will commence this fall. Earlier this year, the Finnish government confirmed its intention to terminate Veikkaus’ monopoly privileges by 2026. This move is part of a broader strategy to restructure Finland’s gambling market. …

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Allwyn ready for UK landing backed by solid Q2 trading

SBC News Allwyn ready for UK landing backed by solid Q2 trading

Allwyn International cites confidence in achieving its full-year 2023 corporate objectives as group subsidiaries (legacy and acquired) maintain ‘organic growth’.  Publishing its Q2 ‘preliminary results’, an enlarged Allwyn sees its lottery portfolio generate consolidated revenues of €2bn for the first time and adjusted EBITDA of €381m (+35%). Headline growth reflects a 115% year-on-year increase, primarily driven by the recent acquisition …

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UAE preparing for gaming market launch with new regulatory body

UAE preparing for gaming market launch with new regulatory body

Paving the way for the future launch of a local betting and gaming market, the UAE has created a new regulatory authority to manage and licence the industry. The General Commercial Gaming Regulatory Authority (GCGRA) has been established to govern commercial gaming and lotteries, according to state media.  It is unclear whether ‘gaming’ will encompass sports betting, online casino or …

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Naida Buljugic to lead Allwyn’s ‘global people agenda’ in c-level position

SBC News Naida Buljugic to lead Allwyn’s ‘global people agenda’ in c-level position

Allwyn has named Naida Buljugic as its Global Chief People and Culture Officer, the first time such a position has been filled at the pan-European lottery operator. Buljugic’s primary remit will be to shape the ‘people agenda’ of the group going forward, which will include spearheading global initiatives to attract and retain talent and coordinate a global culture programme. Her …

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Codere books €164m loss in horror show Q2

SBC News Codere books €164m loss in horror show Q2

Grupo Codere SA cites that its business has been negatively impacted by the “temporary closures by public authorities due to alleged noncompliance with certain regulations in both Mexico and Argentina”. Publishing its Q2 trading update, the Spanish and Latin America-focused gambling group booked a net loss of €164m due to ‘impairment provisions’ needed to consolidate its performance in Mexico and …

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Flutter begins its Bryant era of governance

Flutter John Bryant

Flutter Entertainment Plc begins a new corporate governance era as Chairman Gary McGann steps down from all directorship duties effective 31 August. As of 1 September, the board of the FTSE100 gambling group will be led by US executive John Bryant serving as Chair of the Flutter Board and Chair of the Nomination Committee.  Closing 2022, Flutter notified investors that …

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TPD nets ‘Valley Pro’ Jeremy Doig as NED

SBC News TPD nets ‘Valley Pro’ Jeremy Doig as NED

Total Performance Data (TPD) has announced that Silicon Valley enterprise expert Jeremy Doig has joined its business as a non-executive director (NED). A 35-year technology veteran, Doig has most recently served as CTO of the Disney+ network, overseeing the streaming giant’s team of over 2,500 developers working on technologies for ESPN+, Hulu, Star+ and Disney+.  Recognised as a ‘Valley figurehead’ …

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Intralot maintains EBITDA growth in H1 of B2C adjustments

SBC News Intralot maintains EBITDA growth in H1 of B2C adjustments

Intralot SA highlighted its enhanced operational earnings and cash flow despite commercial adjustments that affected its revenue performance. Releasing its H1 2023 interim trading results, the Athens-listed gambling technology group reported corporate revenues of €175m, a 14% decrease from the 2022 comparative results of €205m. The decline in headline revenues was mainly due to Intralot discontinuing its Malta business, which …

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RMG states Irish ad ban could put future of racing broadcasting at stake

SIS horse racing ireland

The CEO of Racecourse Media Group (RMG) has been quoted in Irish media as predicting potentially dire outcomes for Irish horse racing should the country adopt significant restrictions on betting advertising. According to The Irish Times, Martin Stevenson commented on the impact an advertising ban could have on the operations of its Racing TV holding, saying that such a move …

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