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DoubleDown Interactive

DoubleDown Interactive applies for US listing

South Korea’s DoubleU Games, operator of the DoubleDown social casino app, is looking to raise $100m through a US-listing of American Depositary Shares (ADSs).

The company has appointed J.P. Morgan, BofA Securities and Macquarie Capital as underwriters for the ADS offering, and has applied to list the shares on the Nasdaq [...]

1 min read
Gaming Realms

Gaming Realms shares climb over 16% on positive trading update

Shares in London-listed gaming supplier Gaming Realms were trading more than 16 per cent higher Tuesday morning after the company said that it expects to exceed its EBITDA target for the year.

In a trading update released early Tuesday, Gaming Realms said that its strong performance in the first quarter of [...]

2 mins read
Penn National Gaming

Penn National Gaming ready for reopening with strengthened balance sheet

New York-listed casino operator Penn National Gaming has strengthened its balance sheet by $600m with the closing of its common stock and convertible notes offering.

Strong investor demand saw the company increase the size of the offering to $300m common shares and $300m of 2.75% Convertible Senior Notes due 2026, with [...]

1 min read

Gaming stocks return to growth in April

After the havoc wreaked on share prices across the world during the first quarter of 2020, there was some welcome respite for the gaming industry as the gloom began to lift in April.

Having recorded a 24 per cent drop in their combined share prices during Q1 as the coronavirus pandemic [...]

1 min read
DraftKings

DraftKings begins trading on Nasdaq following SBTech combination

America’s first pure-play sports betting and online gaming business will begin trading on the Nasdaq Global Select Market today following completion of the business combination between DraftKings, SBTech and Diamond Eagle Acquisition Corp.

The business combination was first announced in December 2019 and brings together leading US sports betting operator DraftKings [...]

2 mins read

Nektan future in doubt as shares suspended

Trading in shares of London-listed gaming technology supplier Nektan has been suspended as the company prepares to enter administration.

The company announced two weeks ago that it would hold discussions with advisors and stakeholders regarding the future of the group after its Rapid Games US joint venture ceased trading and its [...]

1 min read

COVID-19 crisis hits gaming investors hard

The first quarter of 2020 has not gone according to anyone's plan, to state the obvious. Markets and businesses across the globe have experienced unprecedented disruption and the chaos was hard felt by gaming operators and suppliers alike.

After seeing their combined share prices increase by 45 per cent in 2019, [...]

1 min read

Ganapati seeks funding as Tokyo court case looms

Casino games developer Ganapati has announced plans to delist its shares from the Aquis stock exchange as authorities in Japan commence legal action against a subsidiary of the company.

The company’s shares are currently priced at 3 pence on the Aquis Stock Exchange, a UK-based stock market providing primary and secondary [...]

1 min read
Kindred

Kindred withdraws dividend as it eyes future investment opportunities

Stockholm-listed gaming operator Kindred Group is withdrawing its proposed dividend so that the company can be well capitalised to take advantage of future opportunities.

In a trading update released late Thursday, Kindred reported a strong start to the year with gross winning revenue for the first quarter of 2020 estimated to [...]

1 min read
Catena Media

Catena Media shares soar on positive trading update

Shares in Catena Media soared by more than 60 per cent in Stockholm Wednesday as the online lead generation specialist revealed that it does not expect any negative long-term revenue effects from COVID-19.

The company said that revenue increased by 6 per cent to €18.0m during the first two months of 2020, [...]

1 min read

GAN shares jump on higher online revenue and Nasdaq move

London-listed gaming supplier GAN is moving forward with its proposed Nasdaq listing as the casino shutdown in the United States begins to translate into higher revenue from online gaming.

GAN said Wednesday that the US casino closures in response to the COVID-19 pandemic have resulted in increased simulated gaming activity online, as major clients undertake [...]

1 min read
NetEnt

NetEnt to further integrate with Red Tiger, resulting in 120 redundancies

Casino supplier NetEnt is laying off 120 employees in Stockholm and Malta as it fully integrates the recently acquired Red Tiger business, with the restructuring expected to deliver annual savings of SEK150m (€13m).

The company said that the restructuring is in line with its strategy of continuous improvement across all parts of [...]

4 mins read
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