Retail

‘Passive’ Ladbrokes shareholders told to block Coral merger by Dermot Desmond

SBC News 'Passive' Ladbrokes shareholders told to block Coral merger by Dermot Desmond

Ladbrokes investor Dermot Desmond has come out fighting against the merger between UK bookmakers Ladbrokes and Gala Coral, imploring the ‘passive’ Ladbrokes shareholders to block the deal and look for better options. Desmond, who has had a long standing interest in the gambling industry through initiatives such as betting exchange BETDAQ, Irish bookmaker Chronicle and GBE Technologies, notwithstanding a stake in …

Read More »

Ainsworth enters US Class II market with $38m Nova Technologies

SBC News Ainsworth enters US Class II market with $38m Nova Technologies

Australian slots manufacturer Ainsworth Game Technology (Ainsworth) has announced that it has secured a 100% binding agreement to acquire US Class II slot manufacturer Nova Technologies. Set at a debt free basis, Ainsworth governance detailed that the deal was estimated at $38 million (£24 million). Clearing deal provisions and regulatory approvals Ainsworth governance will hope to conclude the deal by …

Read More »

Tabcorp still keen on Tatts Group wagering assets

SBC News Tabcorp still keen on Tatts Group wagering assets

Despite failing to agree merger terms, Australian business news sources have reported that competitors Tabcorp and Tatts Group may enter some form of corporate union in 2016. Business news sources have reported that Tabcorp governance are still closely monitoring Tatts wagering assets in Queensland, South Australia and the Northern Territory. Following a weekend of speculation, on Monday Tabcorp and Tatts …

Read More »

Scientific Games hunts for new CFO as Scott D Schweinfurth retires

SBC News Scientific Games hunts for new CFO as Scott D Schweinfurth retires

Gambling technology provider Scientific Games is on the lookout for a new CFO, following the announcement that Scott D Schweinfurth will retire  as Executive Vice President, Company Secretary and Chief Financial Officer. Updating company stakeholders, Scientific Games governance informed that it had appointed executive search firm Egen Zehnder to lead the appointment for Schweinfurth successor. The Company plans to consider both …

Read More »

Paddy Power continues 2015 growth despite unfavourable sports results

SBC News Paddy Power continues 2015 growth despite unfavourable sports results

Issuing an interim management statement for the period 1 July to 15 November, Paddy Power stated that trading was in-line with corporate expectations. Following a strong H1 2015 opening, the operator noted that sports results during the period were unfavourable, an impact seen throughout the betting industry. Paddy Power maintained a 9% group net revenue increase, supported by a 23 …

Read More »

Codere cuts loses to €74 million for Q1-Q3 2015

SBC News Codere cuts loses to €74 million for Q1-Q3 2015

Updating the market, embattled Spanish gambling operator Grupo Codere has reduced its corporate losses to €74 million for its nine month 2015 performance. The gambling operator shortens its losses from the €135 million reported for its Q1-Q3 2014 performance. Group Q3 2015 losses were reported at €25 million. The operator reported a 21% revenue increase to €1.2 billion up 21% …

Read More »

Strewth! Tatts & Tabcorp $9 billion merger talks collapse

SBC News Strewth! Tatts & Tabcorp $9 billion merger talks collapse

Australia’s biggest gambling operators Tatts Group and Tabcorp have failed to agree terms on a merger which would create a + $9 billion enterprise. This weekend national news sources reported that a conformation of the merger talks between the two parties was imminent, but almost immediately the deal was dead in the water. The planned merger would have seen the …

Read More »

William Hill sees biggest ever TV wager on Tony Hadley winning I’m A Celebrity

SBC News William Hill sees biggest ever TV wager on Tony Hadley winning I’m A Celebrity

William Hill has announced that it has taken its biggest ever TV single wager on English songwriter/actor Tony Hadley winning this year’s ‘I’m A Celebrity; Get Me Out of Here!’ reality  contest. The bookmaker detailed that it had recorded a £25,000 bet on Hadley emerging as ITV’s ‘King of the Jungle’. If the punter wins his bet, William Hill will …

Read More »

Demos & RGT launch study of gambling & social media

SBC News Demos & RGT launch study of gambling & social media

The Responsible Gambling Trust (RGT) and think-tank Demos have signed an agreement to conduct a study of the link between online communities and gambling. The study will look at the scale and nature of conversations on social media regarding gambling and assess whether it is possible to identify the prevalence of conversations which reflect problematic gambling behaviour. RGT has commissioned …

Read More »

Concerns arise as 500.com reports consecutive quarter with no revenues & earnings

SBC News Concerns arise as 500.com reports consecutive quarter with no revenues & earnings

Investor concerns continue to mount for troubled New York listed Chinese lottery operator 500.com, following the announcement of a further quarter with no revenues and earnings for Q3 2015. The Shenzhen based lottery operator posted its second earnings results, since the temporary sales suspension of provincial lottery services by China’s Ministry of Finance, which was imposed in February. Due to …

Read More »