Retail

A restructured Grupo Codere SA (Codere) has detailed that it has cut its 2015 group net losses to €113 million (£88 million), down 34.6% on FY 2014’s €173 million (£135 million). The embattled Spanish gambling operator detailed that it had increased its group revenues to €1.64 billion up 18% on FY 2014’s €1.38 billion. Outlining positive impacts, Codere governance stated …

Virtual sports provider Inspired has welcomed changes to betting legislation in Italy, which will extend the current limit of 500 virtual events per day to 2,000 across land-based and digital channels. Opening times have also been lengthened by an additional 2 hours, enabling operators to keep players entertained for longer. The Inspired software has supported the development of a €1 billion …

Wynn Las Vegas will officially launch a new mobile sports betting app today. The app was designed in partnership with technology company Miomni, and will be active for March Madness, the NCAA men’s basketball tournament. The app will feature various types of wagers including straight bets, parlays and future books. The minimum first deposit will be $100, the minimum reload deposit …

Paddy Power has been pulled up for ‘serious failings’ in its anti-money laundering and social responsibility processes following a Gambling Commission investigation. The bookmaker has also agreed to contribute £280,000 to socially responsible causes after failing to keeping crime out of gambling and protect vulnerable people. The failings relate to the way Paddy Power handled relationships with two customers at …

Australian Football League (AFL) club Richmond has entered into a partnership with the Victorian Responsible Gaming Foundation, with a deal that precludes the Australian rules club from having sports betting sponsors. As reported in iGaming Business, the agreement will run for three seasons, from 2016 to 2018. Richmond, also known as the Tigers, will sign the Responsible Gambling Charter and …

William Hill PLC has committed to extend the Government’s National Living Wage of £7.20 per hour to all employees including those in the 18-25 bracket from April 1st 2016. The company currently employs over 12,500 people in its UK retail business and while the majority are currently above the national minimum wage around 4,500 will benefit from the new National Living Wage. …

The 88th Academy Awards takes place this Sunday 28th February. These awards have been heavily touted as the year DiCaprio will finally get his hands on the Best Actor prize which has long evaded him, and with odds as low as 1/100 in places, the bookmakers appear to agree. Whilst this category may be a write off, there are plenty more …

Presenting its full year 2015 corporate results this morning (52-week period ending 29 December), William Hill governance detailed that the company had paid circa £87 million in additional UK gambling duties. The hefty tax charge would impact the FTSE listed betting operator’s top-line metric performance, with William Hill announcing FY 2015 operating profit slump of 22% to £291 million (FY …

New York listed Chinese sports lottery operator 500.com has posted its third consecutive no-revenue quarter for Q4 2015. The troubled lottery operator continues to be impacted by its ‘temporary’ lottery services suspension imposed by China’s Ministry of Finance (first sanctioned in February 2015) As a result of the suspension, the operator posted Q4 revenues of RMB 0.7 million ($0.1 million), …

The divisive Donald Trump is now overwhelming 1/2 favourite with bookmaker William Hill to secure the Republican nomination. The businessman turned media personality turned presidential candidate has also had his odds slashed to 5/2 meaning he’s now the second favourite to win the race to the White House following his latest success in Nevada. William Hill Spokesman Graham Sharpe said of …