Company Reports

Only several weeks after the completion of its multibillion merger with The Stars Group, Flutter Entertainment has rolled out a share sale, which is expected to raise no less than €900 million. As revealed by the gambling operator, the transaction was initiated as part of the group’s efforts to reduce its debt burden in a volatile and uncertain market after its merger with The Stars Group, with the share sale set to make it financially flexible to take advantage of some opportunities that might follow the coronavirus crisis. After the…

Today, the UK Gambling Commission (UKGC) published its Industry Statistics report on the shape and size of the UK gambling sector. The report, which is published twice a year (in May and November), provides an overview of the country’s gambling industry and is based on data reported to the regulatory body by the licensed and regulated gambling operators. The latest statistics provided by the gambling watchdog cover the period from October 2018 and September 2019 and does not include the period of the country’s coronavirus lockdown. The UK Gambling Commission…

Today, the UK Gambling Commission (UKGC) revealed the findings of an investigation it held into PT Entertainment Services (PTES) that once traded through the titanbet.co.uk and winner.co.uk websites. The gambling watchdog of the UK found systemic failures in the company’s player protection. The investigation of the UKGC into the gambling firm’s operation started in March 2019 after the family of a 25-year-old man who committed suicide in April 2017 contacted the regulator. PTES surrendered its operation licence at the time of the probe but the Gambling Commission still decided that…

Gambling giant Betfair has inked a deal with the National Rugby League (NRL), as part of which punters will be permitted to bet against each other for the restart of the season. The 11-hour deal was reached after the gambling company projected that its turnover is to experience a decline considering the fact that the NRL commission is four times higher than the one of the Australian Football League (AFL). The announcement of the deal was made last night by Betfair, which has previously declined to ink an integrity agreement…

Yesterday, the sports betting company TAB notified its staff of job losses due to the negative effect that the coronavirus outbreak has been having on the firm’s performance. Over the last two weeks, TAB had held consultations on cutting a total of 220 jobs, which represent 30% of its workforce. A spokesperson has refused to confirm the final number of the jobs that are to be laid off or any other details of the redundancies but explained that staff were being informed about the fate of their jobs prior to…

The British advertising watchdog, the Advertising Standards Authority (ASA), released a new report Friday that tackles the exposure of minors in the country to televised ads for gambling and alcohol companies. The report reflects the exposure trends for last year. According to the latest figures unveiled by the ASA, minors’ exposure levels to betting-related advertising content have hit a record low, registering the biggest drop since 2008. The trends are similar to those recorded in 2008 and 2009 when underage individuals were exposed to 2.2 and 2.7 betting-related TV advertisements…

UK’s gambling giants GVC and William Hill have announced they expect to receive repayment of up to £350 million from the Tax Agency following last month’s court ruling in favour of the betting industry. In April, Betfred and the Rank Group won a claim before the Upper Tier Tribunal that they were wrongly charged value-added tax (VAT) on certain gaming machines prior to 2013. In a Wednesday statement, William Hill said that Her Majesty’s Revenue and Customs (HMRC) has decided not to appeal against the ruling. The betting firm now…

Last month, Cashino Gaming Ltd, which currently operates under the Merkur Slots brand, revealed plans to start offering its gambling services in the former Coral betting shop premises situated on Victoria Road West, which has not been used since 2019. At the time, the British gambling operator submitted an application to the Blackpool City Council asking it for permission to take over another empty Coral betting shop premises situated in the centre of the town, on Abingdon Street. In a letter of application that was submitted to Wyre Council, the…

The beginning of the week saw the global gambling and sports betting company GVC Group make an announcement that the migration of its Ladbrokes brand on to the market-leading proprietary technology platform was successfully finalised. The Group acquired Ladbrokes Coral two years ago, and now, the completion of the migration for all the acquired brands, including Ladbrokes, Coral, Gala Casino, Gala Bingo and Gala Spins, is set to make them all available on the GVC platform. The migration of Ladbrokes is the biggest one that GVC Holdings has brought to…

The US casino partner of Flutter Entertainment, the owner of Paddy Power Betfair, has revealed hopes to finalise a deal to borrow a total of $600 million by the end of the week that are set to be used as the company is preparing to resume some of its operations. FanDuel, a US subsidiary of recently enlarged Flutter, offers sports betting services in collaboration with Boyd Gaming at the latter’s casino venues in a number of US states. Now, it became clear that Boyd Gaming, an operator listed in the…