Company Reports

The British gambling charity organisation GambleAware released its latest study, which has found that minority ethnic groups are usually the ones who are disproportionately affected by gambling-related harm. These are also the people who normally have a higher demand for treatment and support. The research was carried out by YouGov last year. Now, the study’s results have shown that 20% of Asian, Black and Minority Ethnic adults face gambling-related harm. In comparison, 12% of white adults experience problems associated with their gambling. Furthermore, the survey also found that 7% of…

The UK Gambling Commission (UKGC) revealed that after conducting a review into the business, it had suspended the operating and software licences held by Capen Ltd, a charitable lottery operator. As the major gambling regulatory body of the UK explained, the operations of the company had been reviewed under section s116 of the 2005 Gambling Act. The review affected the operating licence No. 000-036257-R-317724-010 of Capen Ltd. This part of the law states that the gambling watchdog is allowed to carry out such a probe into a company in case…

Today, the UK Culture Secretary has launched a major and long-awaited review of the country’s gambling legislation in order to make sure that the laws are suitable to regulate the sector in the digital age we have been into. As part of the call for evidence, the Government will review not only the existing online gambling restrictions and some issues associated with marketing and advertising across the sector but also the powers of the UK Gambling Commission (UKGC), as the industry has gone through a lot of changes over the…

One of the largest gambling operators not only in the UK but on a global scale – Flutter Entertainment – has revealed plans to spend $4.2 billion to boost the control of its daily fantasy sports (DFS) unit FanDuel as part of its efforts to extend its footprint in the quickly-growing US gambling industry. Flutter Entertainment, which acquired a majority stake in FanDuel two years ago, said it plans to raise £1.1 billion from its shareholders and use the money to purchase a 37% share that is currently owned by…

After the postponement of the launch of Barangaroo casino, Crown Resorts decided to finally appoint a chief compliance and financial crimes officer. The Australian casino company chose Steven Blackburn for this new position as he has years of experience in this field. Blackburn is currently working as a chief financial crime risk officer at the National Australian Bank (NAB). In addition to that, he is also the laundering reporting officer at the major financial institution, making him a perfect candidate for the newly created position at Crown. The appointment of…

Playtech shares its plans to move its tax residency to the United Kingdom at the beginning of 2021. The headquarter of the giant gaming company is currently located in the Isle of Man where it is also tax registered. Playtech believes that the relocation of the tax residency to the UK will be more beneficial to the company’s business. The gaming giant will hold a general meeting on 18 December 2020 in the Isle of Man, where it will propose changes to the articles of the company’s association. Playtech hopes…

The beginning of the week saw Australia-based BetMakers Technology Group reveal that it has entered into a conditional agreement over the acquisition of the Global Tote business of Sportech. Reportedly, the total cash consideration of the deal is estimated at £30.9 million. The online gambling and entertainment operator shared that it is still in process of reviewing and considering all options and there is no certainty that the discussed Global Tote business’ sale will proceed or such a sale would take place under the terms that are currently being considered.…

One of the iconic cardrooms in London, Park Lane Club, is currently facing closures after the company that owns and runs it – Silverbond Enterprises – was left without an operating licence. At the beginning of November, as part of an ongoing probe, the UK Gambling Commission (UKGC) ruled that the gambling operator’s leadership, and the Latvian entrepreneur Vasilijis Melniks in particular, was not worthy of holding an operating licence. At the time, Mr Melniks had been facing an investigation over some alleged ties to money laundering and embezzlement in…

Ulster Bank, one of the traditional Big Four Irish clearing banks, has resumed its commitment to Financial Capability by announcing a 48-hour delay gambling suspension on debit card use. The move is the latest in a series of measures unveiled by the bank to improve the financial capability of its customers. As Ulster Bank has revealed, the feature is effective for both physical and virtual debit cards and has been unveiled as the newest initiative of the Irish bank to tackle gambling-related harm that could be inflicted to customers. In…

The Australian gambling group Crown Resorts managed to recover goodwill payments of two weeks’ wages to the members of its staff, who were fired because of the coronavirus pandemic, from local taxpayers. The casino company claimed the money back thanks to the JobKeeper scheme of the Government. However, according to experts, Crown Resorts’ agreement to pay both its full- and part-time employees their salaries for a fortnight following the closures of the Melbourne and Perth casinos on March 23rd, came as positive PR for the group, which has been facing…