Facing key regulatory showdowns across the European markets of Spain, Sweden, Germany and the UK, Martin Lycka GVC Holdings Director of Regulatory Affairs tells industry leadership to buckle down for the stresses of a working summer… _____________ COVID-19 has upended everything. Even the regulatory silly season is now at risk of being cancelled; that eagerly awaited period of slow news …
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CONFAD, Spain’s ‘national commission’ for combatting sports manipulation and fraud has published its action plan for 2020/2021, outlining 21 directives to safeguard the integrity of Spanish sports. The action plan overseen by Spain’s Consumer Affairs Ministry, as the government department of Spain’s betting industry seeks to bolster four core areas protecting all levels of Spanish sports; ‘analysis and diagnostics’, ‘awareness …
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Spanish gambling and leisure firm Grupo CIRSA SA has confirmed the inbound appointment of Antonio Grau as new Chief Financial Officer (CFO). Grau will join the CIRSA executive leadership team this October replacing incumbent CFO David Royo, who during Q2 trading announced that he had chosen to end his 13-year tenure leading CIRSA financial units. An expert in corporate financing, …
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The European Gaming and Betting Association (EGBA) has responded after the Spanish government radically altered its Royal Decree on Advertising mandate by adding further marketing and sports sponsorship restrictions on licensed incumbents. Last week, a European Commission filing revealed that the Spanish government had drafted a series of new amendments to its approved Royal Decree on Advertising, banning betting sponsorships …
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Mikel Arana, the new Director-General of Spain’s DGOJ, has defended the government for revising the mandate of the approved ‘Royal Decree on Advertising’, which adds further market restrictions and controls on gambling. Speaking to Spanish newspaper El Diario, Arana held his first interview since taking leadership of the DGOJ after replacing long-term incumbent Juan Espinosa as Director-General on 5 May. Last week, …
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Rank Group Plc has issued a market update as it begins to reopen its Mecca Bingo venues across England from Saturday 4 July. Absorbing COVID-19 impacts and costs, Rank stated that its group underlying profits will fall at the lower end of its provided £48-58 million guidance for the year ending 30 June 2020. Despite the closure of its entire …
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Codere SA will escape bankruptcy after the embattled Spanish gambling group secured new terms on its debt arrangement with US debt-holders. The Bolsa Madrid gambling group is reported to have secured a 12-month funding arrangement with a US hedge fund which will guarantee a €120-150 million credit line for the company to fund its operations and repay its deferred debt …
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La Liga football clubs will be forced to remove all betting related sponsorships and in-stadia promotional materials in accordance with the government’s COVID-19 ‘Social Shield’ decree emergency response. The top flight of Spanish football will return on Thursday 12 June with the Seville derby (Sevilla FC vs Real Betis) restarting La Liga’s postponed schedule after an 11-week hiatus. Despite easing …
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Dafabet has confirmed that it will expand its Spanish market presence, supported by R. Franco Digital as its lead platform provider. Updating the market, Dafabet announced that it has transferred its sportsbook and further technology provisions onto R. Franco’s ‘IRIS’ open architecture system, allowing for a better configuration with Spanish market requirements. An established brand within the UK and Asian …
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US private equity fund Blackstone Group has moved to safeguard its investment in Spanish gambling operator Grupo CIRSA purchasing €120 million of the firm’s debt notes. Last week, CIRSA published headline Q1 trading figures, revealing that company growth had been wiped out during March, with the company being forced to shut down its entire retail presence across Spain and South …
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