Retail

Announcing a new corporate strategy focusing on developing multi-channel capabilities, Genting UK President Paul Willock has announced a restructure of the operator’s executive team. Focusing on delivering a compelling multi-channel offering to its customers, Willock confirmed the appointment of Mark Sergeant as Managing Director of Genting Casinos UK ‘Home Markets’. Sergeant the former Managing Director of Gala Coral UK Casinos, …

Embattled Caesars Entertainment Corporation (Caesars Entertainment) has confirmed the appointment of the Honourable Robert E. Gerber as Chief Restructuring Officer (CRO) Gerber a New York Bankruptcy Court Judge has been appointed on the recommendation of Caesars Entertainment’s special strategic committee. Updating the market, Caesars Entertainment detailed that Gerber would be advising the company on corporate restructuring initiatives, debt obligations and …

The Turkish Ministry of Finance has formally announced that it intends to privatise its National Lottery opening up the its first stage tender process on 5 August. Presenting initial details, the Ministry outlined that its private tender for ‘Milli Piyango’ would be set for a period of ten years. Turkey’s previous attempts to privatise its National Lottery have been unsuccessful, …

Ladbrokes and betting technology provider SIS have signed an exclusive four-year deal for track and broadcast rights for the Monmore and Crayford greyhound tracks. The agreement, which takes SIS’ longstanding partnership with Ladbrokes-owned greyhound tracks up to the end of 2020, further enhances the SIS Greyhound Service coverage available to LBOs in the UK and Ireland, and also extends the …

Australian gambling and leisure tycoon James Packer has sold an $800 million (£550 million) stake in joint venture Melco Crown Entertainment (MCE). Business news sources report that Packer and his advisors are seeking to limit Crown Resorts’ exposure in the declining Macau casino market. As part of a more conservative strategy Crown Resorts will focus its growth on Australian casino …

Newcastle United midfielder Jack Colback has become the latest Premier League footballer to face allegations of breaching English football rules on football betting. This weekend UK news sources reported that the Football Association (FA) would investigate the footballer in relation to bets placed on the Atletico Madrid vs Bayern Munich UEFA Champions League semi-final on 27 April. At present there …

Ladbrokes leadership has been dealt a blow by shareholders regarding executive pay at its Annual General Meeting held on Thursday, where 42% of votes were cast against the operator’s remuneration report. The report detailed that Ladbrokes CEO Jim Mullen had been paid £567,000 for his first nine month’s leading the operator. Mullen’s predecessor Richard Glynn earned £730,000 in 2014, combined …

Nasdaq-listed Scientific Games Corporation has stated that integration initiatives and cost focused synergies implemented in 2015 have helped the company record an income boost of $50 million up 178% on Q1 2015’s $18 million. Updating the market on its Q1 2016 performance (period ending 31 March), Scientific Games reported growth on revenue and earnings ‘metrics, despite being impacted by unfavourable …

The UK Gambling Commission (UKGC) has published a set of new requirements to prevent crime associated with gambling. The new rules will come into force later this year and  follow a Commission consultation which took place at the end of 2015. As part of the changes, UKGC will require gambling operators to: Conduct an assessment of the risks of money …

A tough opening to its 2016 corporate performance, has seen Eastern European gambling operator Fortuna Entertainment revise its year guidance detailing an EBITDA drop ranging between 10-15%. Updating the market on its Q1 2016 (period ending 31 March), Fortuna reported a group wagering increase to €251 million (up 26% on corresponding Q1 2015) combined with Gross Win revenues of €38 …