Company Reports

Australian shares have experienced an increase following the excitement associated with a number of takeover deals, including the recently announced acquisition of the world’s biggest supplier of online gambling and sports betting software by Aristocrat Leisure. The All Ordinaries Index increased by one-fifth of a per cent, reaching 7,690. As announced by Aristocrat Leisure itself, the Sydney-based poker machine manufacturer would take over Playtech, a UK online gambling and sports betting developer, in a deal estimated at £2.1 billion (almost AU$4 billion). The acquisition would allow the Australian gambling company…

At the end of last week, the UK Gambling Commission (UKGC) announced that BGO Entertainment Limited‘s operating licence has become subject to suspension. As explained by the UK major gambling regulatory body, the operating permit No. 039533-R-319369-021 was suspended after the watchdog carried out an investigation under section 116 of the country’s Gambling Act 2005. The probe into the company’s operations and the consequent suspension of its permit to offer gambling services on the territory of the UK has been initiated following some concerns that BGO Entertainment Limited may have…

The horse racing industry in Australia has faced accusations of getting special treatment by the authorities as local Governments are allowing people at marquee events. At the same time, gambling companies that offer horse race betting have been boosting their donations to political parties, totalling almost AU$500,000 on an annual basis. According to new research data, the annual contributions made by the aforementioned gambling operators rose from AU$9,900 in 2010/2011 to AU$473,161 in 2019/2020. Over the past decade, the overall donations made by the industry totalled AU$2.7 million, with the…

The UK advertising regulator has upheld a ruling against A&S Leisure Group, trading as Napoleons Casinos, making the company download one of its ads. The Advertising Standards Authority (ASA) has investigated the company following a complaint against an advertisement that appeared on Napoleons Casinos’ website and official Facebook page. The complaint regarded the home page of the online casino operator’s platform www.napoleons-casinos.co.uk that was seen on August 16th, 2021 to have encouraged customers to enjoy “unlimited gambling” across its casino network. A post on the company’s Facebook page, seen on…

The UK Gambling Commission (UKGC) revealed it has imposed a £450,000 fine on a casino operator following a probe that found the operator failed to comply with social responsibility and anti-money laundering rules. As announced by the Commission, VGC Leeds Limited, trading as Global Gaming Ventures, is set to pay the fine as part of a regulatory settlement that was agreed by the watchdog and the company. The Executive Director of the UKGC, Helen Venn, explained there were failures in the way the business identified and managed customers who were…

The non-fungible token (NFT)-based football platform Sorare.com has sent a statement to the Gambling Insider to respond to the recent notice of the UK Gambling Commission (UKGC). In its statement, the operator revealed that, for the time being, it does not provide British consumers with any forms of regulated gambling services. As Casino Guardian reported, the major gambling regulatory body of the UK warned local customers that Sorare offers its services without an operating licence issued by the local competent authorities. In response, the NFT football platform has insisted that…

British bookmaker William Hill has turned down requests to sign up to the Irish Bookmakers Association’s (IBA) Safer Gambling Code that has already been approved by gambling operators in the country. The Code calls for gambling advertising to be suspended from live television, and, even more importantly, for players to be no longer able to use credit cards to fund gambling transactions. However, the bookmaker’s refusal to sign up to the Safer Gambling Code threatens to cause a major disagreement in the local gambling sector, as it has undermined the…

Star Entertainment’s share value has experienced a significant decline after the Australian gambling giant faced allegations that it has been allowing illegal activity at its casino venues for years. According to a joint report issued by three news outlets, the gambling operator has had links to organised crime and has been involved in money laundering and fraud. Star Entertainment, however, has turned down the claims, which resulted in a share value slump, as “misleading”. The gambling company further noted that it operates in an industry that is heavily regulated and…

The major regulatory body of the gambling industry in the UK issued a customer information notice regarding the fantasy game for football Sorare. The UK Gambling Commission (UKGC) revealed that it came to the watchdog’s attention that the football-themed online platform Sorare.com, can be accessed by consumers in Great Britain. The British gambling regulator warned that the website has not been licensed by the UKGC. The watchdog further explained that operating without a licence means that all activities that are being completed on the website by British customers are outside…

The owners of the Football Index website transferred customers’ stakes worth approximately £15 million to a connected company that spent the money on developing technology to sell similar products in other countries as the gambling platform collapsed in the UK. The Athletic reported of a document, according to which the aforementioned sum was transferred from BetIndex, the company that operated the Football Index website, to a holding company called Index Labs a part of the so-called “Project Hadron”. As mentioned above, the owners of the virtual stockmarket for football players…