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VGT/VLT News

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Online growth fails to offset Swedish gambling market decline in Q1

Sweden’s regulated gambling market has recorded a 2 per cent year-on-year drop in turnover to SEK5.90bn (€559m) in the first quarter of 2020, despite growth from the online betting and gaming sector.

Turnover was down 11 per cent compared to the previous quarter’s record SEK6.65bn, with the COVID-19 pandemic negatively impacting [...]

3 mins read
Sweden flag

Sweden-licensed operators blast amended COVID-19 gambling regulations

The Swedish government has amended its proposed COVID-19 online gambling restrictions to exclude horse race and sports betting.

The government announced plans in April to limit customer deposits for online gambling and retail gaming machines in response to a claimed increase in online casino gaming during the COVID-19 pandemic.

The proposal attracted [...]

4 mins read

Scientific Games names new CFO as Quartieri steps down

Scientific Games Corp. has appointed Mike Eklund to serve as its chief financial officer effective June 1.

Eklund assumes the role from Michael Quartieri, who has served as CFO since 2016 and will step down at the end of June to pursue opportunities outside the gaming industry, although he will serve [...]

3 mins read
IGT

IGT brings cashless gaming to Svenska Spel VLTs

New York-listed gaming supplier IGT has rolled out its cashless payment technology in Sweden with Svenska Spel.

IGT’s Intelligen VLT system and Quasar cabinets have powered Svenksa Spel’s video lottery offering since 2017 and now feature IGTPay, a cashless solution that allows players to fund their gameplay through their mobile device.

The [...]

3 mins read

Digital drives first half revenue growth for Aristocrat

Sydney-listed supplier and social casino operator Aristocrat Leisure has reported a 7 per cent increase in revenue to AUD$2.25bn for the six month period ended 31 March, following strong growth in its Digital business.

Revenue from Digital rose 27 per cent to $1.04bn, equivalent to nearly half of the H1 total, [...]

4 mins read

GVC Holdings to seek VAT rebate of up to £200m

London-listed gaming operator GVC Holdings has added its name to the list of gaming companies seeking a refund from UK tax authority HMRC in relation to incorrectly charged value-added tax (VAT).

GVC said Thursday that it could benefit from a refund of approximately £200m of historic VAT incorrectly paid on gaming [...]

1 min read
OPAP

OPAP names acting-CEO as Cope prepares to step down

OPAP chief commercial officer Jan Karas will take over as acting chief executive of the Greek lottery operator from 1 June following the departure of Damian Cope.

Cope announced in April that he would stand down from the company at the end of his current four-year contract, which ends this month, [...]

2 mins read
William Hill

William Hill in line for up to £150m VAT repayment

London-listed gaming operator William Hill may recover as much as £150m from HM Revenue and Customs (HMRC) after the UK tax authority confirmed that it will not seek to appeal a tribunal ruling on the application of value-added tax (VAT) on gaming machines.

The Upper Tier Tribunal ruling dismissed HMRC’s appeal [...]

1 min read

Tabcorp secures debt waiver and scraps final dividend

Sydney-listed gaming operator Tabcorp Holdings will not to pay a final dividend in relation to its 2020 financial year after securing an agreement with its lenders to waive debt covenants until the end of the year.

Tabcorp has secured agreement from its bank lenders under its Syndicated Facility Agreement (SFA), representing [...]

1 min read

Sweden records overall gambling decline but most online operators growing

Swedish gambling regulator Spelinspektionen has released data showing an overall decline in online betting and gaming during the COVID-19 pandemic, although operator performances vary.

The data shows that the licensed online gambling market in Sweden grew by 21 per cent in January 2020 compared to January 2019, when the regulated market [...]

1 min read
Pennsylvania

Pennsylvania’s regulated iGaming market soars in April

Pennsylvania’s regulated online casino market generated a record $43.1m in gross revenue during April, with revenue from online slot games more than doubling compared to the previous month.

The closure of all Pennsylvania casinos and video gaming terminals continued throughout April due to mandated restrictions from the COVID-19 virus, with Pennsylvania’s [...]

1 min read
Boyd Gaming

Boyd Gaming to begin reopening casinos this week

Boyd Gaming stock rallied in New York Monday as the company prepares to reopen its casinos in a number of US states.

Three of Boyd’s Louisiana properties will be the first to reopen Wednesday, with operations resuming at Delta Downs Racetrack Casino Hotel, Evangeline Downs Racetrack Casino Hotel and Treasure Chest [...]

1 min read
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