Tag Archives: FTSE

Playtech offloads casual games subsidiaries 

Playtech Plc has offloaded its casual games subsidiaries FTX Games and Plamee Studios to US games publisher Tilting Point, following an undisclosed agreement. Games news sources report that Tilting Point has agreed to take over all major IPs and key employees of FTX Games and Plamee. In 2014, Playtech launched its Plamee casual games studio, a subsidiary division formed by …

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Revenues down 11% but product depth helps GVC through lockdown

Further to announcing its leadership change this morning, GVC Holdings has published a H1 post-close trading statement informing investors of the firm’s performance under challenging global conditions.  Navigating COVID-19 complexities, GVC underlined that the company was robust and decisive in implementing cost management actions to ensure that the group achieved its objective of operating at a cash neutral position during …

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William Hill closes Stockholm Gametek office

William Hill Plc has begun the phased closure of its ‘Gametek Office’ in Stockholm, a decision the FTSE betting group has undertaken to simplify its operating structures. Issuing a statement to SBC, William Hill brands its Stockholm office closure as ‘a natural step’ in the firm’s integration of MRG Group assets within its wider organisation. William Hill will move to …

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James Frendo / Simo Dragicevic: Playtech leads product disciplines in the age of sustainability

Playtech executives James Frendo (Director of Casino) and Simo Dragicevic (CEO of BetBuddy) talk to SBC about how a ‘sustainability-first approach’ to product development has changed the FTSE tech group’s thinking and culture with regards to tackling the industry’s current demands and complexities.  ______________ SBC: Hi Team, can you detail to SBC audiences Playtech’s commitment towards sustainable development. When was this programme …

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GVC leadership takes 20% pay cut

FTSE250 GVC Holdings has confirmed that its executive committee members will take a 20% pay cut, while some staff have agreed to also forego bonus payments for 2020. GVC’s Board and remuneration committee stated that it ‘would be appropriate’ for both the Board of Directors and Executive Committee to take a voluntary reduction in basic salary and fees for three …

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Flutter begins ‘new era’ by completing merger with Stars Group

A new FTSE100 gambling giant was formed this morning, as Flutter Entertainment Plc confirmed the outright completion of its $11 billion merger with The Stars Group Inc (TSG).   Flutter has completed its six-month merger pursuit of TSG ‘on schedule’, securing all regulatory (Australia, UK and US) and shareholder approvals during the first half of 2020 trading.  Updating its timetable, the …

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GVC revises credit facility terms trading on a more positive outlook

Ladbrokes

GVC Holdings has moved to restructure terms on its revolving credit facility with existing lenders, allowing for greater flexibility as the FTSE firm navigates global COVID-19 business complexities. Last March, operating on a ‘worst-case scenario’ basis, whereby the global sports calendar would be suspended until August, GVC governance sanctioned access to a £550 million revolving credit facility, with a view …

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Playtech suspends Chairman search after appointing Milne as interim board lead 

Playtech Plc has confirmed the appointment of Claire Milne as Interim Company Chair, succeeding Alan Jackson who chose to end his seven-year tenure as Chairman of the FTSE250 technology group at the start of the year. Assessing market dynamics interrupted by the global COVID-19 pandemic, Playtech detailed that it has chosen to delay its executive search for a new permanent …

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William Hill leadership forgoes 2020 incentives to protect retail workforce

Ulrik Bengtsson Group Chief Executive of William Hill Plc has agreed to relinquish his executive performance rewards and entitlements for 2020, in light of ongoing COVID-19 impacts on the business and its global workforce. William Hill confirmed Bengtsson’s decision publishing the FTSE250 betting group’s ‘2020 Executive Remuneration’ report this afternoon. Countering COVID-19 disruptions across its business channels, William Hill governance states …

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Retail realities bite William Hill’s 2019 performance

FTSE250 William Hill Plc has this morning published its full-year 2019 results, recording a 2% decline in group revenues to £1.58 billion (FY2019: £1.6bn).  The bookmaker branded 2019 as a ‘transformative year’, in which it has restructured its three core trading divisions for online, retail and the US. Continued retail adjustments related to shop closures and redundancies saw William Hill …

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