GVC Holdings’ Merger with Ladbrokes Could Boost Isle of Man Economy

GVC Holdings’ Merger with Ladbrokes Could Boost Isle of Man Economy

Only a few weeks ago, the UK bookmaker Ladbrokes Coral and the Isle of Man-based gambling group GVC Holdings announced they reached an agreement on their merger negotiations. As revealed by the two companies at the time, Ladbrokes Coral is to be taken over by its online gambling rival GVC in a deal that was estimated to up to £4 billion. The announcement came only two weeks after it became clear that the two companies had entered in “detailed” negotiations over a possible merger deal. The deal follows two previous…

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William Hill May Dispose of Australian Assets Due to Gambling Crackdown

William Hill May Dispose of Australian Assets Due to Gambling Crackdown

Today, the British gambling operator William Hill published a trading statement for the year ended on December 26th, 2017 sharing its expectations for its full-year profit. The company further hinted that it may be considering a possible sale of its Australian assets due to tougher regulatory regime. According to the operator’s preliminary expectations, its annual adjusted profit for the past year is to increase by 11% in comparison to the 2016 result, reaching an estimated of £290 million, with this result being larger than analysts’ expectations. William Hill shared that…

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Novomatic Leaves Germany’s Online Gambling Market Due to Unclear Regulatory Rules

Novomatic Leaves Germany’s Online Gambling Market Due to Unclear Regulatory Rules

A spokesman of Novomatic, the gambling technology company based in Austria, revealed that the group left the German online gambling market at the end of December 2017, urging the local regulators to bring more clarity to the online gambling legislation of the country. In an e-mailed statement, the official representative of the company explained that German regulators had to invest more efforts into give a new and improved form of the local online gambling legislation, because the currently existing rules were not clear enough. The operator was making plans to…

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Peter Jackson Takes Over as CEO of Paddy Power Betfair

Peter Jackson Takes Over as CEO of Paddy Power Betfair

Today, the former boss of Worldpay, Peter Jackson, is making a fresh start by taking over the position of Chief Executive Officer of Paddy Power Betfair. Since January 8th, the 42-year-old Mr. Jackson is to officially take over the CEO position from Breon Corcoran, who left the company’s board on January 7th. This is a big step for Peter Jackson, who in March 2017 became boss of the payment processing company Worldpay. Before that, he has a 7-year experience at the position of Chief Executive Officer of Travelex, a foreign…

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Mirae Asset Acquires $95-Million Mezzanine Debt on Las Vegas’ Cosmopolitan Hotel and Casino

Mirae Asset Acquires $95-Million Mezzanine Debt on Las Vegas’ Cosmopolitan Hotel and Casino

Mirae Asset Daewoo Co. Ltd revealed that it has acquired a mezzanine debt amounting to $95 million on Las Vegas’ Cosmopolitan, which is currently owned by the Blackstone Group. The move of the South Korea’s leading mutual fund house’s brokerage unit comes at a time when the private equity firm was aimed at accumulating a new refinancing package on the hotel and casino resort. In its regulatory filing from January 4th, the company revealed that it will separately raise fresh capital amounting to KRW 700 billion that would be used…

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GBI Racing Considers New Expansion Options Following Israeli Operations Closure

GBI Racing Considers New Expansion Options Following Israeli Operations Closure

The joint venture company GBI Racing that provides betting shop operators around the globe with high-quality UK and Irish racing, is to now look for new opportunities following the horse racing betting ban which the Israeli government recently imposed. A compensation amounting to £4.9 million is to be paid by the Israeli government to the company, which has been responsible for the coverage distribution of British and Irish racing to foreign betting operators. The contract between the Israel Sports Betting Board and GBI Racing, which operates as a joint venture…

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Gala Leisure Chooses Isobel for Gala Bingo Brand Relaunch

Gala Leisure Chooses Isobel for Gala Bingo Brand Relaunch

Isobel has been appointed by Gala Leisure to its £5-million advertising account right before the relaunch of the brand, which is expected soon. The creative agency Isobel has won Gala Bingo, which Coral owned before joining forces with Ladbrokes in 2016. Isobel won the business of the bingo club operator after facing the strong competition of Fold7, BMB and George & Dragon in a bidding process which was handled by AAR. Back in 2015, the private equity firm Caledonia Investments purchased the Gala Leisure brand from Ladbrokes Coral in a…

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Parvus Reduces Stake in William Hill as Bookmaker Navigates Consolidation Wave and Regulatory Challenges

Parvus Reduces Stake in William Hill as Bookmaker Navigates Consolidation Wave and Regulatory Challenges

Parvus Asset Management, the largest shareholder in William Hill, reduced on Wednesday its stake in the British bookmaker to 12% from 13%. The move and what it might mean for the gambling company gained quite some attention from City investors at a time when two of its fellow operators are prepping for a £4-billion merger. In June, Parvus’ holding in William Hill was at its peak of 17.2%. Since then, the hedge fund sponsor has cut its stake six times, including yesterday’s trimming. Analysts attribute this to the recent jump…

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Tabcorp and Tatts Group Finally Seal the Deal on Merger

Tabcorp and Tatts Group Finally Seal the Deal on Merger

Two of the largest gambling companies on the Australian market, Tabcorp Holdings and Tatts Group, announced today they are to merge officially after a cumbersome merging process that was ridden with difficulties. The merger’s official announcement marks a new chapter in the two gambling operators’ history as their long-awaited partnership is to result in the creation of a massive gambling conglomerate that is roughly estimated to A$11 billion. The newly-merged gambling giant Tabcorp-Tatts plans to become a force to be reckoned with in the industry and is to pursue further…

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Australian Broadcasters Demand Exemptions from Gambling Advertising Ban

Australian Broadcasters Demand Exemptions from Gambling Advertising Ban

Radio and television stations across Australia have made attempts to secure a number of exemptions to the ban the country’s government has imposed on gambling advertising during live sports events. The exceptions the broadcasting bodies insist on were listed in their latest draft with codes of practices. Some of the broadcasting bodies that proposed the exemption include the Commercial Radio Australia, Free TV Australia, and the Australian Subscription Television and Radio Association or ASTRA. One of the said exemptions seeks to enable Australian television stations to broadcast a gambling advertisement…

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