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Financing News


LeoVegas eyes bond issue to finance growth strategy

Stockholm-listed gaming operator LeoVegas is considering an unsecured bond issue to help finance growth and potential acquisitions.

LeoVegas said Friday that it has engaged SEB and Swedbank as joint bookrunners to explore the conditions to issue a senior unsecured bond with an expected value of SEK500m, with investor meeting set to [...]

2 mins read

Acroud raises SEK75m to fund M&A strategy

Stockholm-listed iGaming affiliate Acroud has strengthened its financial position through a directed share issue, raising SEK75m (€7.4m) to fund future acquisitions.

The directed share issue of 35,294,118 shares was completed at a price of SEK2.55 per share, amounting to SEK90m in allocated demand.

Acroud recently completed the acquisition of a fast-growing sports [...]

1 min read
Rank Group

Rank Group strengthens balance sheet with £70m fundraise

London-listed gaming operator Rank Group has raised £70m through a successful fundraise with existing and new institutional investors.

A total of 76,736,762 shares were conditionally placed at an issue price of 90 pence per share, the company said Thursday, with retail investors subscribing for a total of 1,009,258 new ordinary shares [...]

1 min read

PandaScore raises €5m to expand esports product portfolio

Paris-based esports data provider PandaScore has raised €5m in a new funding round led by FDJ’s venture capital fund.

PandaScore offers AI-powered statistics and odds to esports bookmakers, with the new funding earmarked to drive further expansion, including growing its teams in Paris and Malta and the range of esports covered.

The [...]

2 mins read

DraftKings predicts 97% revenue growth for Q3

New York-listed sports betting operator DraftKings expects to report a 97 per cent increase in third quarter revenue to between $131m and $133m.

The trading update accompanied the launch of DraftKings' underwritten public offering of 32m shares on Monday, half of which are being offered by DraftKings and the other half [...]

1 min read
Penn National Gaming

Penn National Gaming raises $982.1m to fund growth initiatives

New York-listed operator Penn National Gaming has raised proceeds of $982.1m after closing an underwritten public offering of 16.1m shares.

The offering includes 14.0m shares initially offered by the company and 2.1m shares issued pursuant to the option granted to the underwriters, which was fully exercised.

“This successful offering provides our company [...]

1 min read

BGC welcomes UK Job Support Scheme as 10pm curfew hits casinos

Britain’s casino operators have welcome the government’s decision to introduce a Job Support Scheme to cover a portion of employee costs as casinos begin to operate under a 10pm curfew, although they warn of ongoing risks to jobs due to the new operating restrictions.

The Job Support Scheme announced by Chancellor [...]

3 mins read

UK casinos call for immediate rescue package to save jobs

The UK land-based casino sector has called on the government to extend the Coronavirus Job Retention Scheme to protect jobs as venues once again face restrictions due to COVID-19.

Casinos have urged Chancellor Rishi Sunak to deliver an urgent government rescue package to save up to 14,000 jobs which are now [...]

1 min read

Unikrn agrees $6.1m penalty with SEC for unregistered ICO

eSports betting provider Unikrn has agreed to pay $6.1m to the Securities and Exchange Commission (SEC) as a penalty for conducting an unregistered initial coin offering (ICO).

According to the SEC, Unikrn raised approximately $31m through its offering of the UnikoinGold (UKG) token between June and October 2017, promising investors that [...]

1 min read

PointsBet set to raise AUD$303m to support US expansion

Australian and US sports betting operator PointsBet Holdings is looking to raise approximately AUD$303m through a new capital raising to support its long-term strategy.

The capital raising comprises a fully underwritten accelerated pro rate renounceable entitlement offer with retail rights trading to raise $153.2m at $6.50 per share, as well as [...]

1 min read
Scout Gaming Group

Scout Gaming raises SEK75m to continue growth trajectory

Stockholm-listed fantasy sports provider Scout Gaming Group has raised proceeds of SEK75m (approx. €7.2m) from its shares placement.

Scout has completed a directed share issue of 1,835,062 shares through an accelerated book building process, alongside a directed share issue to existing Santa Monica-based institutional investor Topline Capital Partners of 1,200,000 shares.

This [...]

1 min read

Buzz Bingo to close 26 venues in proposed restructure

UK bingo operator Buzz Bingo is proposing to restructure its retail estate through a company voluntary arrangement (CVA), which will see 26 bingo clubs closed permanently and nearly 600 staff made redundant.

It follows a period of consultation with Buzz Bingo’s various stakeholders, including its landlords, aimed at securing a sustainable [...]

3 mins read
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