Tag Archives: FTSE

Entain Plc has underlined its commitment to securing 100% growth within regulated igaming markets, having this morning declared an accelerated withdrawal from several unregulated areas.  The FTSE100 gambling gorup’s board notified investors that the it would no longer operate in “unregulated markets where it sees no path to domestic regulation.” No details were provided as to which markets Entain had …

The board of Playtech Plc has confirmed the appointment of Samy Reeb as a new Independent Non-Executive Director of the FTSE250 gambling technology group.  An expert in tax management and auditing of mass market corporations, Reeb is a former director of EY and Credit Suisse, leading the management of tax affairs for key clients in the US and Asia. Further …

Flutter Entertainment Plc has begun planning for the succession of Gary McGann as Executive Chairman of the FTSE100 gambling group.  This morning, Sky News reported that Flutter governance had begun ‘interviewing candidates’ to “identify a successor to Gary McGann”, who has served as chairman of the company since 2015. City Sources indicate that McGann’s departure will be announced later in …

The board of Playtech Plc has notified investors of Andrew Smith’s decision to step down as Chief Financial Officer (CFO) of the FTSE250 gambling technology group.  By mutual agreement, Smith will leave the business on 28 November, ending his seven-year tenure as Playtech Group CFO. Playtech informed that Smith had chosen to leave the company due to ‘personal reasons’, with …

Entain Plc has successfully executed the pricing and allocation of a ‘New Term Loan‘ that will provide the FTSE100 gambling group $1bn in funds available to support its global growth initiatives.  A corporate financing measure announced by Entain governance during H1 trading, the new term loan has been allocated as a “$1,000m First Lien Term Loan B in USD set …

The board of 888 Holdings has provided a group financing update alongside its Q3 2022 trading results, published this morning. Enlarging its business by acquiring William Hill UK and International units, 888   carries a long-term debt structure across instruments with maturities ranging from five-to-six years. The FTSE250 operator announced that it had entered a “series of hedging arrangements” to fix …

Flutter Entertainment has reported difficult first-half trading, as the FTSE100 betting group widened its year-on-year operating losses to £112m (H12021: £86m). Publishing its H1 2022 interim results, Flutter stated that earnings and profit reflected a period of known regulatory and macroeconomic challenges, highlighted by leadership at the start of the year. Period trading saw the group continue to register headline …

888 Holdings expects its 2022 interim revenues to be “broadly” in line with corporate expectations, as the FTSE250 igaming group navigates a tougher European regulatory climate. In process of finalising its £2 billion acquisition of William Hill – 888 expects interim revenues to be between £330-and-£335 million range, for the six months to 30 June. The board of 888 noted …

Flutter Entertainment Plc has disclosed that London activist fund Parvus Asset Management has built a 7.1% shareholding in the FTSE100 betting group. The activist’s shareholding was brought to the public’s attention, as Flutter informed investors that Parvus had reached its ‘7% threshold on voting rights’ that required disclosure to markets. Parvus’ 7.1% shareholding has been built by ‘way of equity …

Flutter Entertainment has revealed that its #ClubsinCrisis fund has generated £24 million in social/community benefits according to independent research conducted by Newton for a charity partner Made by Sport. The FTSE100 betting group launched its #ClubsinCrisis fund in March 2021, forming its Cash4Clubs partnership with Made by Sport – a UK  charity that champions local sports development as a vital …