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Financing News


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

MGM Resorts and GVC double down on BetMGM investment

MGM Resorts International and GVC Holdings have committed to a second round of investment in their Roar Digital joint venture and its BetMGM sports betting and online gaming platform, bringing the total investment to $450m.

The increase follows their initial investment of $200m in July 2018 and underpins their commitment to [...]

4 mins read

Leap Gaming agrees loan as it moves towards profitability

London-listed FastForward Innovations (FFWD) has stepped up its investment in virtual sports provider Leap Gaming.

FFWD, which owns a 43.4 per cent stake in Leap Gaming, has invested an extra €117,647 as part of its pro rata allocation of a €250,000 loan provided by shareholders.

The loan accrues interest at 1.02 per [...]

1 min read

DraftKings upsizes share offering

New York-listed sports betting operator and supplier DraftKings has announced an upsizing and pricing of its public offering, which is now valued at up to $1.6bn.

Having previously expected to raise around $576m through an underwritten public offering of 33m shares of its Class A common stock, DraftKings confirmed Thursday that [...]

1 min read

BetMakers to raise $35m to fund US sports betting expansion

Sydney-listed sportsbook supplier BetMakers Technology Group has received commitments to raise AUD$35m through a new placement of its shares, with proceeds to be used to fund its expansion in the US sports betting market.

The placement will raise $35m via an offer price of $0.37 per share, an 8.6 per cent [...]

1 min read
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