Refinanced Spanish gambling firm Grupo Codere continues its strong corporate recovery, as the company reports KPI and metric growth for its Q3 2017 trading update (period ending 30 September). Primarily driven by growth in its Spanish and Mexican divisions, Codere would record Q3 2017 group operating profits of €401 million up 3% on corresponding 2016’s €390 million. Despite facing adverse currency …
Read More »Retail
IGT write down of North America Interactive unit sees Q3 operating losses of $550m
Foreign exchange losses combined with a write-down impairment charge of $714 million has seen New York-listed gambling firm IGT Group Plc declare Q3 2017 net losses of $804 million. Publishing its Q3 2017 trading update (period ending 30 September), IGT disclosed a period group operating loss of $556 million, primarily attributed to its $714 million write-down charge of its ‘North …
Read More »New Jersey congressman makes case to end federal sports betting ban
New Jersey Congressman Frank Pallone has voiced his belief that the federal ban on sports betting should be lifted. Pallone, a member of the Democratic Party, did so during a congressional hearing relating to the safety and regulation of mixed martial arts (MMA) in the state. He used the opportunity to shine a spotlight on the Gaming Accountability & Modernisation …
Read More »Czech Sazka Group eyes London IPO
Updating the market, Czech-based lottery firm Sazka Group has detailed that it may move for a London listing, in order to expand its European market growth ambitions. The lottery group, owned by Czech investment firms’ KKCG Group and EMMA Capital has appointed investment banks Citigroup, Morgan Cazenove and Morgan Stanley as lead coordinators, but states that it has yet to make …
Read More »NYX accuses William Hill of “wrongful conduct” as acquisition dispute escalates
In response to William Hill’s threats to block the acquisition of NYX Gaming Group Limited by Scientific Games, NYX has launched legal action against the bookmaker. Last week William Hill issued a corporate update, voicing its concerns over the deal and signalling its intention to convert its preference shares into ordinary NYX shares, in order to ensure it had had …
Read More »32Red acquires ‘The Jackal’ as brand ambassador
32Red has announced a multi-fight deal with Carl Frampton, for Northern Ireland’s first two-weight world champion to become a brand ambassador for its online casino brand. As part of the partnership, which kicks off with this Saturday’s ‘Frampton Reborn’ card from The SSE Arena in Belfast, Frampton will provide regular content for the 32Red blog and social channels. Frampton is …
Read More »Ladbrokes Coral digital recovery offsets UK retail declines
Publishing its Q3 trading update (period ending 29 October), FTSE-listed sports betting group Ladbrokes Coral Plc continues to record a strong digital momentum, offsetting the year decline of its UK retail betting division. Closing in on its first full-year of post-merger operations, Ladbrokes Coral reports improved Q3 group net revenues of 3%, primarily driven by a 12% net revenue uplift …
Read More »India to review new sports ethics & integrity bill
India’s Lower House has cleared the passage for the ‘National Sports Ethics Commission Bill’ to be reviewed by the Delhi ‘Sansad’ Parliament. The sports bill has been developed by former India BCCI cricket Chairman and BJP (India Peoples Party) MP Anurag Thakur, who first tabled the bill in 2016, seeking a stronger ethical code for Indian professional sports. Thakur and …
Read More »AGA America appoints Penn National’s Tim Wilmott as next Chairman
US gambling industry body, The American Gaming Association (AGA) has confirmed that Tim Wilmott CEO of Penn National Gaming Inc, will serve as its next Executive Chairman. Updating stakeholders, the AGA board confirmed that Wilmot would serve a two-year chairmanship beginning in January 2018, replacing current incumbent Jim Murren CEO of MGM Resorts. Wilmott has been involved with AGA governance …
Read More »The Betfred Story Part 4: Cementing the Legacy
“Work is not work to me. Work is my life, it’s my pleasure, I enjoy it. I don’t work for money, I work because I like working with the people, I like challenges, I like the future and I like developing all sorts of businesses.” – Fred Done Part 4 of the Betfred story (see part three here) is the …
Read More »