Company Reports

As Casino Guardian already revealed, Ministers have started an investigation into the collapse of the operator that provided “a stock market for football” that has cost £90 million to customers and has been described as the largest gambling firm failure in the history of the UK gambling market. It all started on March 5th, with an announcement of huge reductions in dividends made by the UK gambling platform Football Index. The surprising statement was made only a few days after some new shares were issued to players and resulted in…

The British and Irish gambling giant Flutter Entertainment has faced accusations of providing special cash bonuses and free hospitality tickets to a fraudster who has bet massive sums of money with it. The gambling operator is to defend itself in the High Court following claims it allowed gambler Tony Parente to place defrauded funds amounting to £282,000 as bets. As reported by This is Money, the court heard that Flutter Entertainment’s sportsbook brand Paddy Power accepted a total of £127,000 in banknotes in a period of eight weeks without bookmaker’s…

Crown Casino has faced a massive AU$1-million monetary penalty for failures to check and evaluate foreign high-roller customers and closely inspect junket companies, some of whom have been linked with criminal organisations. Casino junkets attract affluent high-roller customers, who usually originate from mainland China, and bring them to Australia to gamble in Crown Resorts’ casinos. Some of these junket operators, however, have been linked to crime and other illegal activities. The Australian casino giant had to follow strict protocols in order to make sure a robust process of consideration of…

Entain has not managed to make a groundbreaking offer with its revised AU$3.5-billion bid for the sports betting and media unit of Tabcorp, with the Australian operator remaining open to higher takeover offers and exploring the opportunity to separate the business into two smaller organisations. Yesterday, Tabcorp confirmed that it had received a revised acquisition offer from the UK gambling giant that had boosted its AU$3-billion offer made at the beginning of February with half a billion. The initial bid of Entain was rejected by the Australian gambling company as…

Crown Resorts is yet to make some efforts in order to convince the Government and regulators of New South Wales (NSW) to allow it to keep its operating licence for its new casino in Sydney. At the time when Commissioner Patricia Bergin made her report public following an investigation into the gambling group’s operations, the state gambling watchdog explained that Crown Resorts would have to undergo significant changes in order to get the Barangaroo casino licence back. The Australian gambling giant was expected to finally open the gaming floors at…

Betway’s parent company Super Group uncovered its intentions yesterday to start trading publicly on the New York Stock Exchange (NYSE). The gambling giant confirmed it will go through with its plan to go public by merging with the acquisition company Sports Entertainment Acquisition Corp (SEAC). Super Group, which hails from Guernsey, said it has reached a “definitive agreement” to merge its operations with the special purpose acquisition company (SPAC). Under the new deal, the Guernsey-based betting company will apply for a listing on the NYSE. Super Group intends to trade…

William Hill’s Acquisition by Caesars Entertainment was completed on Thursday, with the deal set at £2.9 billion. Earlier this week, the court sanctioned the acquisition despite several hedge funds disagreeing on the deal. Now that the takeover is concluded, Caesars Entertainment will take full control over William Hill’s land-based and online gaming assets that cater to US customers. Tom Reeg, Caesars CEO, shared the company’s excitement to finalize Willam Hill’s acquisition and bring the two major operators under the same roof. Future sports deals that will bring long-term profits are…

Minister for Gambling and Lotteries John Whittingdale has revealed that the Government is set to launch an independent review to examine the circumstances associated with the recent collapse of Football Index. The Minister shared that an independent expert is set to be appointed in order to consider and evaluate the circumstances that led to the failure of the gambling company, which has resulted in catastrophic amounts of money lost by thousands of customers. Furthermore, the action taken by the UK Gambling Commission (UKGC) against the operator will also be evaluated…

On Tuesday, the British bookmaker William Hill announced that the court had cleared its £2.9 billion takeover by the major US casino company Caesars Entertainment. The court’s decision was made despite the disapproval of the deal by some shareholders. The minority shareholder HBK had shared concerns about the merger deal due to disclosures related to the takeover deal. HBK’s disapproval of the merger was also supported by the US hedge fund GWM Asset Management. Both of them addressed the issue in a statement to the board, pointing out the lack…

The global investment company Oaktree Capital Group offered Australia’ Crown Resorts Ltd its help in buying back Packer’s share for AU$3 billion. This move meant a competition between Oaktree and its rival Blackstone Group which has also made a proposal for Crown’s buyback. Oaktree’s offer to help Crown with buying the billionaire’s share came just one month after Blackstone made a full takeover proposal for AU$8 billion. Crown said it will consider both offers but did not specify what type of benefit would Oaktree receive if the casino accepts its…