Author: Olivia Cole

Earlier today, the UK gambling giant Entain reported an increase in its revenues. The revelations have been made only a few days after the Ladbrokes and Coral brands’ owner rejected the £8.1-billion takeover bid that the US casino company MGM Resorts had previously made. The British gambling operator also confirmed reports that it had found a replacement for the departing chief executive Shay Segev. As Entain shared, Jette Nygaard-Andersen is to take the chief executive officer position to replace Mr Segev who is stepping down as of today but will…

UK gambling company 888 Holdings has continued its pursuit of an expanded US online gambling presence with a new poker deal with American casino giant Caesars Entertainment. As revealed by the two companies yesterday, they inked a multi-year extension of their exclusive agreement that would put an end to the concerns that the US casino operator might make changes to its domestic poker business, ceasing the involvement of foreign organisations. Under the new deal extension, 888 will continue to supply Caesars’ casino platform and provide content on a business-to-business basis…

The US casino company MGM Resorts decided not to pursue an acquisition of Entain. After the UK gambling giant rejected its initial £8.1-billion takeover bid earlier in January, with the Ladbrokes and Coral owner saying that the offer underestimated its value, MGM Resorts made a decision not to push further. The Las Vegas casino company had until February 1st to make a firm takeover offer under the UK legislation after media hubs reported it had made a proposal to acquire Entain. Together, the two companies already run a US-based joint…

The gambling operator Sky Bet ended its latest “Commentator Bingo” betting market ahead of the match between Manchester United and Liverpool that took place on January 17th, following some concerns shared by Twitter users. In the so-called novelty market, punters were allowed to place wagers on the exact words and phrases that were used by the commentators who participated in Sky Football’s live match commentary – Gary Neville, Martin Tyler and Jamie Carragher. However, an issue occurred at the time as Twitter users shared they were not sure whether Sky…

The UK subsidiary of Genting Malaysia Bhd seems to be finding the coronavirus pandemic situation quite problematic. So far, the Covid-10 crisis has forced Genting UK to close three of its casino venues – the ones in Bristol, Torquay and Margate – and to reduce its workforce at its operations in London, Blackpool, Birmingham, Glasgow and Edinburgh. Now, the local subsidiary of Genting Malaysia is being forced to permanently close another property, its Genting Casino Southport, and is currently in a consultation phase with the 38 employees who used to…

Gambling operators in the UK have been accused of mixing a “dodgy dossier” to make the scale of betting on the black market stronger as part of their efforts to affect the Government’s upcoming review of the sector that is likely to result in stricter regulation of the country’s gambling market. According to figures that have recently been seized on a report of the gambling industry, a stricter legislative and regulatory regime could encourage a large number of people to start betting with rogue gambling companies operating in the black…

The British bookmaker William Hill has revealed a sharp decline in revenues as a result of betting shop closures and lockdown restrictions because of the ongoing coronavirus pandemic, even with its online operations registering growth. On January 13th, the group issued a trading statement, projecting that its 2020 full-year revenue would be about 16% lower than the one registered in 2019, or about £1.3 billion. William Hill further said that it expected its retail unit to post a £30-million year-on-year loss because of the challenging conditions faced by its land-based…

The gambling software giant Playtech has been boosted by the successful debut of bet365 in the flourishing US sports betting market. The Isle of Man-based gambling software developer said that it expected to surpass analysts’ expectations for its full-year results. Currently, the US is seeing a rapid increase in gambling popularity thanks to the repeal of the long-time ban on sports betting in the country. As revealed by Playtech, the launch of bet365 and Entain, formerly known as GVC Holdings, in the state of New Jersey meant that its earnings…

The gambling and sports betting group Entain plc, which was formerly known as GVC Holdings, officially announced yesterday that its Chief Executive Officer (CEO) Shay Segev is to leave the company. As Entain revealed, Mr Segev has given notice of his decision to step down from his role in the British gambling group and occupy the Co-CEO position at DAZN, a privately-owned international sports streaming platform. Mr Shay will have a 6-month notice period and is set to remain in the Chief Executive role for the aforementioned period or until…

The chairman of the biggest stakeholder in MGM Resorts – IAC – has shared he doubted that the acquisition bid of the US casino giant for the UK gambling company Entain will be successful. Despite a few days ago IAC pledged to provide MGM Resorts with financial support amounting to $1 billion for the deal, Barry Diller told the Financial Times that he was sceptical about the outcome of the proposed takeover deal. Still, Mr Diller shared that he remained “absolutely sure” that whatever happens with the acquisition bid, MGM…