Retail

Franz Wohlfahrt steps down as CEO of Novomatic

Novomatic CEO Franz Wohlfahrt will leave his position at the end of September, the casino and betting operator has confirmed. The group supplies gaming technology and is one of the largest integrated gaming companies in the world, with more than 20,000 staff (3,000 in Austria). Wohlfahrt has been the firm’s general manager for the last 10 years, and is also …

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Surge in Australian betting market: $287m wagered on World Cup

Whilst Australia may have bowed out in the group stage of the World Cup, they far exceeded expectations with results which included a narrow 3-2 loss against eventual third place finishers the Netherlands. Back home Australian football fans did their bit by exceeding bookmakers’ expectations in terms of the collective amount they placed in bets. Throughout the month long competiton …

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GTECH set to buy IGT for $4.7 billion

After weeks of speculation GTECH SpA have confirmed that it will buy Las Vegas based slots machine and gambling provisions manufacturer International Game Technology (IGT) for $4.7 billion (£2.74 billion). Business news sources speculate that GTECH have structured the purchase of IGT using cash and stock equity. The further inclusion of $1.7 billion in net debt, will see the total …

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Coral takes on new Watch&Bet retail solution

Bookmaker Coral is adopting PERFORM‘s unique Watch&Bet Retail solution, in partnership with gaming content expert Vermantia. Watch&Bet Retail will provide Coral with a leading combination of high quality live video with best-in-breed data and match visualisations, as well as the integration of Coral’s own live odds. Through this joint collaboration with Vermantia, PERFORM will provide live video coverage of leading …

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Vegas betting ring busted

Eight people have been arrested after the FBI and the Nevada Gaming Control Board foiled an illegal sports betting operation within a popular Las Vegas hotel. Investigators believe the men, all of Asian origin, took wagers on World Cup games, after staff installed electronic, computer equipment and DSL lines in Caesars Palace, a luxury strip establishment. One of the defendants …

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Sisal Group halts Italian IPO

Italian gambling and lottery operator, Sisal Group has pulled out of its planned initial public offering, citing adverse market conditions in Italy and abroad. Sisal senior management issued a statement late on Friday, stating that after careful monitoring of market conditions, it had been advised by IPO partners Deutsche Bank and UBS Ltd, to abandon its plans floating on the …

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GTECH preps $4 billion IGT takeover

Italian newspaper La Repubblica reported this weekend that Milan stock listed gambling/lottery technology and provisions supplier GTECH SpA were preparing a bold $ 4 billion (£2.33 billion) acquisition offer to purchase International Game Technology – IGT. The Italian news source confirmed that senior GTECH management, were currently studying the financing dynamics of the deal in order to purchase the New …

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NRL suspends five players over betting allegations

The NRL has suspended five players for betting on rugby league matches in which their clubs were involved.A media statement announced the following bans: David Williams (Manly Sea Eagles)- suspended for the rest of the 2014 season after placing multiple bets on games – including several in which he was involved. Ethan Lowe (North Queensland Cowboys) – suspended for two …

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Traders using inside information could breach Gambling Act

Bookmakers have been advised to tighten up their employment conditions in order to make sure that traders who spot an emerging coup on the books don’t look to profit themselves by placing bets with rival firms and also to protect themselves from such behaviour. The Gambling Commission has written to the Association of British Bookmakers (ABB) to highlight the potential …

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Malta asks for ECJ clarity on illegal betting definition

Malta’s Economic Secretary Jose Herrera has urged the European Court of Justice (ECJ), for further clarity over the European Unions definition of illegal betting. Herrera made the appeal in light of the publication of the European draft convention on sports competitions. The convention purpose is to prevent  and detect corruption and manipulation of professional sports within EU member states. Furthermore …

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