Company Reports

The Australian casino giant Crown Resorts faced criticism after its chief executive officer admitted he had been unaware of the operator’s VIP gambling activity. That made the head of the inquiry addressing the suitability of Crown Resorts to operate its Sydney casino criticize the state of the anti-money laundering systems of the Australian gambling operator and said the investigation into the company’s operations unveiled a lack of transparency. As Casino Guardian has already reported, the inquiry commenced in 2019, after some media reports claimed that some organised criminal groups laundered…

The online gambling giant888 Holdings is close to announcing the appointment of an ex-lobbyist, who used to play an important part in the Former Prime Minister Tony Blair’s ascending to power, at the position of the group’s chairman. As revealed by Sky News on September 23rd, 888 Holdings was to officially name Lord Jonathan Mendelsohn, who has been working for clients in the gambling industry for years, as a non-executive director of the group in a special announcement to the London Stock Exchange. Later, the gambling giant confirmed that Lord…

The competition regulatory body of the UK is investigating the anticipated deal between gambling technology suppliers Evolution Gaming Group AB and NetEnt AB. On September 22nd, the Competition and Markets Authority (CMA) revealed that the multi-billion acquisition of the aforementioned companies is being probed, as the country’s competition watchdog is willing to determine whether the combination of the two companies may result in a considerable reduction of competition within any market on the territory of the UK for goods or services. Reportedly, both parties in the proposed acquisition deal were…

The major British regulatory body has recently revealed that the online gambling activity in the UK is falling from the high it reached during the coronavirus pandemic. Still, according to the latest data provided by the UK Gambling Commission (UKGC), this happens partly, as local customers are redirecting their betting to retail betting shops that have been opened lately. A few days ago, the major gambling watchdog in the country revealed that all online gambling verticals are reporting a decline in their gross gambling yield (GGY) from June to July.…

Every year, about 260 women in Ireland seek help with their gambling addiction. According to the CEO of Problem Gambling Ireland Barry Grant, this number is 5 times higher, compared to the cases 5 years ago. As the stress levels increased in the last few months due to the COVID-19 pandemic, the organisation has reported a huge increase in females with gambling problems. A study from 2019 shows that there are about 40,000 cases of gambling addicts in Ireland. Around 4.8% of them are males, while the females represent 0.2%…

The billionaire owners of Betfred received dividend amounting to £10.2 million after reporting exceptionally large operating profits, as the Government’s restrictions on the controversial fixed-odds betting terminals (FOBTs) had a much milder effect than the one initially predicted by the sector. In November 2019, the owners of the gambling business, Fred Done and his brother Peter, warned that British bookmakers were trying to survive after the decision of the country’s Government to sharply reduce the maximum bet allowed on the machines from £100 to £2. According to the figures for…

Australian gambling group Star Entertainment has distributed bonuses worth a total of AU$1.4 million to its top executives, despite missing their yearly financial targets while at the same time appropriating AU$9.6 million in JobKeeper money to cover the wages of its employees. The middle of the week saw the casino and entertainment company reveal that its chief executive officer Matt Bekier received an AU$2.3-million bonus for the 2020 fiscal year. The figure represents a reduction from AU$3.3 million a year ago and AU$4.4 million back in 2018. The Star Entertainment…

Early on Tuesday, William Hill’s stock value rose by almost 85 after the British gambling operator became part of the multi-year deal with ESPN. According to preliminary expectations, the company is ready to capitalize on the opening of the US sports betting market and its development in the years to come. The beginning of the week saw ESPN unveil co-exclusive deals with Caesars Entertainment and DraftKings, which sent the stocks of both companies higher. Considering the fact that William Hill is a sports betting partner and operator of Caesars Entertainment,…

The Australian casino operator The Star Entertainment Group has taken its insurance carrier to court after the company turned down a legitimate claim in accordance to the gambling firm’s insurance policy. As a result, The Star Entertainment decided to bring the issue to court. The casino company claims that Chubb Insurance refused to pay for a claim submitted by the Australian gambling giant in the first quarter, with the claim being associated with the impact the coronavirus infection had on the company. The casino and entertainment services operator revealed that…

Recently, the British gambling brand Betfair announced its decision to withdraw its operations from the New Jersey market. The sports betting exchange operator revealed that it will exit the state’s gambling sector because of the unsatisfactory results in the market combined with the fact that New Jersey would receive its first sports betting exchange. The British gambling company revealed that its sports betting exchange service will no longer be available in the state as of October 1st, 2020. Kip Levin, the Chief Financial Officer of FanDuel Group, further explained that…