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Spectator-free Kentucky Derby leads to 50% fall in wagering

The absence of spectators and on-track betting at the Kentucky Derby this weekend resulted in a 50 per cent drop in all-sources handle.

The 146th running of the iconic Kentucky Derby, which was held on the Labor Day weekend for the first time after being postponed from May due to the [...]

1 min read
Intralot

Intralot sees first half revenue slump 55%

Athens-listed Intralot has reported a 55 per cent fall in revenue to €168.2m for the first half of 2020, as second quarter results were significantly impacted by the COVID-19 pandemic.

Intralot’s systems handled €9.8bn of worldwide wagers during the six month period, an increase of 2 per cent versus a year [...]

1 min read

HKJC annual turnover falls to €23.6bn despite digital wagering growth

The Hong Kong Jockey Club (HKJC) has reported a 12 per cent decline in total turnover to HK$218.75bn (€23.6bn) for its 2019/20 financial year ended 30 June.

Despite the impact of COVID-19 on global sports and racing, HKJC did not lose a single race during the pandemic after implementing stringent health [...]

1 min read

Online poker soars as French iGaming market declines in Q2

France’s regulated online betting and gaming market recorded a 6 per cent decline in gross gaming revenue (GGR) to €323m for the second quarter of 2020 as a result of the COVID-19 pandemic.

Sports betting was the worst affected segment due to the suspension of major sports, with GGR falling by [...]

1 min read
Betfred

Betfred bids to acquire South Africa’s Phumelela

UK bookmaker Betfred has made an offer to acquire South African racecourse owner and betting operator Phumelela Gaming and Leisure for as much as R925m (€46.4m).

Phumelela filed for bankruptcy in May after a period of adverse economic and trading conditions, which were exacerbated by the COVID-19 pandemic.

Betfred submitted a binding [...]

1 min read
Flutter Entertainment

Flutter Entertainment reports strong H1 growth

London-listed gaming operator Flutter Entertainment grew revenue by 49 per cent in the first half of the year with its acquisition of The Stars Group, as well as strong growth in Australia and the United States.

Flutter Entertainment’s group revenue for the six-month period amounted to £1,536.1m compared to £1,019.9m in [...]

1 min read

Veikkaus says COVID-19 will reduce full year profits by €300m

Finland's state-owned gaming operator Veikkaus has warned that its full year profit will be €300m lower than previously estimated as a result of the COVID-19 pandemic.

Veikkaus said that coronavirus impacted revenue by around €200m during the six month period, with land-based venues closed for more than three months and sports [...]

1 min read
ATG

Strong Q2 for ATG as Swedish horse racing drives growth

Swedish betting and gaming operator ATG has posted strong results for the second quarter of 2020 as net gaming revenue increased by 31 per cent to SEK1.43bn (€137.8m) and profit more than doubled to SEK643m.

Despite the impact of COVID-19 on its sports betting product, ATG benefited from strong international interest [...]

1 min read
Churchill Downs

Churchill Downs to hold Kentucky Derby without spectators

This year’s Kentucky Derby will take place without spectators in attendance due to the rising number of COVID-19 cases in the state.

The 146th Kentucky Derby was originally scheduled for May but was postponed to September due to the COVID-19 pandemic, with organiser Churchill Downs working closely with health officials since [...]

3 mins read
Tabcorp

Tabcorp full year revenue drops 5% despite digital growth

Sydney-listed gaming operator Tabcorp Holdings has reported a 5 per cent drop in revenue to AUD$5.22bn for its fiscal year ended 30 June, with a strong lottery performance unable to offset the impact of retail closures as a result of COVID-19.

Revenue from Lotteries and Keno increased by 2 per cent [...]

1 min read

Online growth fails to offset Q2 retail decline for Inspired Entertainment

New York-listed gaming supplier Inspired Entertainment has reported a 42 per cent drop in revenue to $15.6m for the second quarter of 2020, with online growth offset by the temporary suspension of the company’s land-based business.

Revenue from Inspired's server-based gaming (SBG) business fell by 77 per cent to $4.0m in [...]

1 min read
Oslo Norway

Norway notifies new Gambling Act to European Commission

The government of Norway has submitted its draft Gambling Act to the European Commission for approval.

The proposed new law would govern all gambling activities in Norway under an exclusive rights model, with state-owned Norsk Tipping retaining its monopoly on lottery and gaming, while Norsk Rikstoto would be the only authorised [...]

1 min read
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