Retail

Updating the market this morning, Nasdaq-listed Scientific Games Corporation (SGC) has confirmed that it has entered a ‘definitive agreement’ to acquire all shares in industry progressive systems and live table games content supplier DEQ Systems Corp (DEQ). SGC governance detailed that it has agreed to a cash payment of CAD $038c per share, valuing its new asset at circa CAD …

Returning from her summer holidays in the Swiss Alps, UK Prime Minister Theresa May has again reiterated to her cabinet that ‘Brexit means Brexit’. Facing growing scepticism regarding the Conservative Party’s ability to negotiate a successful withdrawal from the European Union, May and her cabinet are expected to present the public with an initial Brexit update. The Conservative Party has …

Publishing what will likely be its last financial update as a private company, Gala Coral (Coral) has reported top-line metric growth hindered by significant exceptional costs as the company approaches its £2.2 billion merger with Ladbrokes Plc. Updating the market on its Q3 2016 performance (12-week period ending 2 July), Coral would declare net revenues of £264 million up 10% …

The recovery of embattled Spanish gambling operator Grupo Codere (Codere) has been gravely impacted by the depreciation of South/Latin American currencies against the € currency. Presenting its H1 2016 results (period ending 30 June), Codere who restructured its €1,1 billion debt under UK High Courts in January would record group operating losses of €7.8 million (H1 2015: €65 million). Despite …

The Racing Partnership (“TRP”) and Turf TV have agreed to share satellite infrastructure in UK and Irish Licensed Betting Offices (“LBOs”). This agreement will see Turf TV and TRP sharing satellite infrastructure across the existing estate of Turf TV independent bookmaker customers in the UK and Ireland. The joint approach will mean that there is no requirement for most independent LBOs …

 Australian leisure and gambling tycoon James Packer has sold approximately 4.8% equity in ASX-listed casino operator Crown Resorts (Crown) for a reported AUS $448 million (£257 million). The transaction was carried out by Packer’s investment vehicle Consolidated Press Holdings (CPH), who placed circa 35 million shares at AUS $12.80 apiece. The sell-off sees Packer relinquish his majority stake in Crown …

SIS has taken its SIS Stream platform, launched in conjunction with Sporting Times, to Sri Lanka for the first time. This continues a two decade-long relationship between the two companies, which began with satellite distribution in the early 1990’s. The deal will allow for customisable high definition content to be shown in shops through SIS’ low latency IPTV streaming network. …

Updating the market on its H1 2016 interim results (unaudited period ending 30 June), Eastern European gambling operator Fortuna Entertainment Group (Fortuna) has revealed improved corporate results throughout its core metrics. Following a tough FY 2015, in which Fortuna financial performance was impacted by increased tax charges in its markets of Poland, the Czech Republic and Slovakia, the company was …

Publishing its H1 2016 results (period ending 30 June), FTSE-listed betting technology provider Sportech Plc has reported a steady first half of the year, as the company sustained EBITDA at £11 million. Sportech governance detailed that corporate performance had been in-line with expectations, following a tough H1 2015 comparative period. The Liverpool based company would declare a statutory pre-tax profit …

New York private equity firm Z Capital has confirmed that it has brought Nevada casino operator Affinity Gaming outright for an all-cash deal of $580 million (£440 million). At present the private equity firm owns 41% equity in Affinity Gaming, with Z Capital seeking to purchase the outstanding stake at a price of $17.35 per share. Updating stakeholders, Z Capital …