The UK Tote Group has confirmed the appointment of John Williamson, a director with extensive experience in Asia, as its Non-Executive Chairman from 1 September 2020. Williamson’s appointment is expected to bring “significant international business and financial expertise to the organisation”, and provide timely support for its ambitious growth plans just 10 months after its acquisition of the Tote, the …
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The confirmed departure of Mark Frissora as President & Chief Executive of Caesars Entertainment has triggered fresh rumours regarding the future of the legacy US casino operator. This morning, the New York Post reported that the governance of MGM Resorts had hired Morgan Stanley and law firm Weil, Gotshal & Manges to act as corporate advisors, examining a potential $20 billion …
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Issuing a corporate update, Toronto TSX-listed The Stars Group Inc, has today disclosed its supplementary prospectus related to its proposed new public share offering. Updating the market, the Stars Group’s treasury will move to implement a 15 million common share placement, which will be additionally supported by secondary 6 million share disposal undertaken by existing corporate shareholders. Stars Group governance …
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Updating the market, Czech-based lottery firm Sazka Group has detailed that it may move for a London listing, in order to expand its European market growth ambitions. The lottery group, owned by Czech investment firms’ KKCG Group and EMMA Capital has appointed investment banks Citigroup, Morgan Cazenove and Morgan Stanley as lead coordinators, but states that it has yet to make …
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Awaiting the outcome of the UK government’s triennial review on maximum stakes on gaming machines, analysts at Morgan Stanley see light at the end of the tunnel for Ladbrokes Coral __________________________________ To accompany the incendiary comments from Paddy Power Betfair on fixed odds betting terminals (FOBTs) in a letter to the government’s triennial review last week, the company gave a …
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UK newspaper The Daily Telegraph has reported this weekend that William Hill will team up with Canadian TSX listed igaming technology supplier NYX Gaming, as it prepares a £300 million bid for leading betting technology provider OpenBet. The newspaper reports that William Hill governance will financially assist NYX Gaming’s bid for independently owned OpenBet. NYX Gaming who floated on the …
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CMC Markets, a spread betting broker and provider of online financial trading, has announced its intention to float on the London Stock Exchange. It is expected that the planned initial public offering, confirmed by the company today, will value the company at around £1 billion. Founded in 1989 by former Tory party treasurer and “Brexit” campaigner Peter Cruddas, CMC Markets became a pioneer of online …
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Issuing an investor update this morning, Betfair and Paddy Power governances have confirmed that terms and conditions of their proposed £5 billion merger have been agreed on. The announcement sees Paddy Power agreeing to acquire Betfair assets at a value of £2.86 billion ($3.2 billion). Once completed the planned merger will result in Paddy Power shareholders owning 52% of the …
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Editorial consultant Scott Longley investigates how innovation is in danger of being left behind in the latest corporate reorganisation. In the fog of war generated by the current spate of sectoral M&A manoeuvrings, the debate about whether online gambling is genuinely engaging its customers is in danger of getting lost in the tumult. Like worrying about the design of the …
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UK business news sources have reported a 3% jump in Ladbrokes share price following a stock upgrade by investment bank Morgan Stanley. The investment bank yesterday upgraded its target price from 135p to 150p, stating that it saw scope for improved future performance and corporate value, owing to what it deemed as a digital turnaround for the operator led by …
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