Company Reports

A crackdown on premises which have are primarily operating as poker machine parlours instead of pubs is currently being promoted as part of the authorities’ campaign against the gambling culture in Tararua. However, the MidCentral District Health Board has shared suspicions that some of the poker machine venues in the district are violating a loophole in the existing requirements that gambling services are not the premises’ main source of income. Tararua has been reported as the district with the second highest ratio of pokies to people on the territory of…

Kenny Alexander, the Chief Executive Officer of the biggest gambling operator in the UK, has agreed to a massive reduction to his paycheck after facing some pressure from the group’s investors. The move comes only a week before the annual shareholder meeting of GVC Holdings, where the company’s investors are set to vote on its pay policy. Mr Alexander, who has been heading the gambling giant for 12 years now, will have his salary reduced by £150,000, from £950,000 to £800,000. According to an official statement released yesterday, the six-figure…

Yesterday, Paddy Power Betfair finalised its rebranding and started trading under its new name – Flutter Entertainment. The gambling operator’s move received approval from the parent company’s shareholders at its annual meeting which took place on May 15th. The new name of the operator goes back to the time when exchange betting was something new and a merger was carried out between Betfair and its market competitor Flutter. The parent company’s name change, however, would not affect the group’s brands, including Australia-based Sportsbet and FanDuel in the US, and will…

Recent statistics provided by the Liquor and Gaming NSW have shown that the amount lost on clubs and pubs’ pokies by Wellington and Dubbo-based players in 2018 is estimated to about AU$38 million. According to reports, 27 venues in the Dubbo Regional Council area collected overall net gaming machine profits of AU$37,943,741 in 2018. In comparison, the net poker machine profits in 2017 amounted to AU$36,799,817. There were 696 gambling machines in the community at the end of 2018, compared to 730 at the end of 2017. The reduced number…

The Irish lottery regulator has backed raising concerns associated with betting on the outcome of lottery draws over the Internet, in spite of the fact that the practice has not been illegal. As the Irish Examiner revealed, the Department of Public Expenditure and Reform (DPER) has refused to respond to an inquiry made by the local media, which wanted to know whether it was suitable that the watchdog should be engaged with legal competition to the industry it regulates. At the time when a meeting was held between Carol Boate,…

Many young people are facing difficulties dealing with financial debts which have occurred as a result of online gambling, pay-later schemes, credit cards ownership, etc. Mia Shelton, a researcher for Financial Counselling Australia, explained that the industry needed to invest more efforts to find out more about young people’s difficulties in managing debt because such issues could cost them a lot before they decide to seek for help. According to recent studies, young Australians are willingly spending their money on online gambling and “buy-now, pay-later” schemes – a trend which…

Casino operator SKYCITY revealed that it is to release an online casino later in 2019. To make that happen, SKYCITY has signed a landmark deal under the provisions of which it would be able to offer online gambling to residents of New Zealand. The online casino would be operated from the Mediterranean through the Malta-based subsidiary of the company, SKYCITY Malta in partnership with Gaming Innovation Group, which is to provide the technology. The online casino is expected to be officially launched in mid-2019. The announcement has been revealed after…

The surprising win of the Coalition was not the only news which saw millions of Australian residents surprised. Another interesting revelation regarding the gambling business Sportsbet, as it became clear that, by Sunday night, the company had paid out more than AU$5 to local punters on election bets. The betting operator, just like most of Australia, was absolutely sure that the local Labour party would win, so it decided to pay out its customers’ “winning” bets a couple of days before the votes have actually been counted. The overall amount…

GVC Holdings, the owner of British gambling brands Ladbrokes and Coral, has changed its expectations for the impact which the recently imposed crackdown on fixed-odds betting terminals (FOBTs) was expected to have on its performance. The group reduced the predicted impact, saying that the cut in the maximum stake of the machines from £100 to £2 which was brought into effect at the beginning of April is now expected to affect its earnings by approximately £105 million. In comparison, the company had previously forecast that the reduced maximum stake of…

A new survey has shown that seven in ten gamblers do not believe in bookmakers’ intentions to help British people gamble responsibly. In a poll released by the international online market research and data analytics company YouGov, one in five players confessed that they had made an online bet which they could not actually afford over the last couple of years. Moreover, almost 75% of the people who have gambled online in 2019 supported the proposal for stricter measures to be imposed on online gambling. The poll also found massive…