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GVC warns of impact of sporting cancellations on earnings

London-listed sports betting and gaming operator GVC Holdings said Monday that the significant reduction in sporting events as a result of the coronovirus could reduce its full year EBITDA by between £130m and £150m.

Providing an update regarding the impact of COVID-19 and subsequent cancellation of sporting events, GVC said that the well-being, safety and security [...]

3 mins read
The Stars Group

The Stars Group on course for strong first quarter revenue growth

Toronto-listed betting and gaming operator The Stars Group Inc said Monday that it remains confident of delivering revenue growth this year, despite the recent postponement and cancellation of a number of major sporting events globally.

In a trading update, the operator said that Q1 revenue from its International segment was slightly ahead of the prior [...]

3 mins read

OPAP closes retail point of sales and gaming halls in Greece

Greek lottery and gaming operator OPAP has suspended the operation of all points of sales and gaming halls in Greece for two weeks as the country looks to combat the COVID-19 pandemic.

The closures come after the Greek government imposed a temporary ban on the operation of a wide range of retail stores, indoor [...]

2 mins read

Flutter Entertainment issues profit warning over sporting fixture cancellations

London-listed betting and gaming operator Flutter Entertainment has warned that group EBITDA could be reduced by as much as £110m if the current restrictions on sports fixtures remain in place until the end of August.

With almost all major sporting events in the UK and across the world cancelled or postponed indefinitely in an [...]

4 mins read

Strong online performance sees GVC revenue hit £3.66bn in 2019

London-listed betting and gaming operator GVC Holdings has reported a 23 per cent increase in net gaming revenue to £3.66bn for 2019, benefiting from a full year’s trading of Ladbrokes Coral.

GVC recorded underlying growth in all areas of the business except UK Retail machines, where revenue declined following the implementation of the [...]

9 mins read

Churchill Downs Incorporated names new board member

New York-listed gaming and racetrack operator Churchill Downs Incorporated has appointed Paul Varga to its board of directors.

Varga brings extensive experience in international business and corporate finance to the role, having most recently served as chairman and CEO of global spirits and wine company Brown-Forman Corporation until his retirement at [...]

2 mins read

Codere grows Online as Argentina and Colombia slip

Madrid-listed gaming operator Codere has posted a 6 per cent decline in revenue to €1.39bn for 2019, despite growing contributions from its Online business.

The company recorded growth from its Online, Spain, Italy and Uruguay business segments, offset by declines in Colombia, Panama, Mexico and Argentina.

Latin America accounted for more than half of [...]

1 min read

UK National Audit Office calls for more research and funding to combat problem gambling

The National Audit Office has released its report into gambling regulations in the United Kingdom, concluding that the regulations “lag behind industry” due to a number of factors, including an inflexible funding mechanism for the Gambling Commission and limited understanding of the impact of gambling-related harm on society and public [...]

1 min read

Racing and gaming drive Churchill Downs Inc’s revenue growth in 2019

New York-listed gaming and racetrack operator Churchill Downs Incorporated has reported a 32 per cent increase in net revenue to $1.33bn for the full 2019 year.

The biggest growth came from the company’s land-based gaming operations, which represented more than half of the total as revenue grew by 54 per cent to $692.4m.

Gaming revenue growth [...]

1 min read
The Stars Group

The Stars Group swings to profit as 2019 revenue grows 25%

Toronto-listed The Stars Group has posted a 25 per cent increase in revenue to US$2.53bn for 2019, with sports betting taking over as the operator’s biggest product vertical.

Revenue for the year was primarily driven by the company’s acquisitions in 2018, as well as organic growth in the UK and Australia markets which partially offset [...]

1 min read

Flutter Entertainment sees 2019 revenue surpass £2bn despite Retail woes

London-listed betting and gaming operator Flutter Entertainment has reported a 14 per cent increase in revenue to £2.14bn for the full 2019 year, following growth across its Online, Australian and US businesses.

Flutter said that it was a successful year for the company as it took a leadership position in the US online sports betting [...]

1 min read

US racetrack business boosts Webis Holding’s turnover in first half

London-listed betting and racetrack operator Webis Holding has reported a 50 per cent increase in group turnover to US$8.1m for its first half ended 30 November 2019.

The company saw an improved period of trading for WatchandWager.com during the period, despite the previously reported loss of a large syndicate business which negatively impacted total amounts [...]

1 min read
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