Company Reports

This week, it was revealed that the US media business Fox Corporation has been working with other investors over a potential offer for certain parts of the Australian gambling operator Tabcorp. According to The Sydney Morning Herald, the potential takeover bid would involve Tabcorp’s betting and media unit. According to people with knowledge of the industry who asked not to be named, Mr Murdoch has been considering possible collaborations with Australian gaming operators. He has already capitalised on some investments into the US betting market. As revealed by the anonymous…

The UK Gambling Commission (UKGC) revealed that a gambling company will have to undergo an extensive investigation following some regulatory findings of marketing, money laundering and social responsibility failures. The major UK gambling regulator imposed an official warning and a monetary fine amounting to £3.4 million on InTouch Games Limited – the operator that currently runs a number of gambling platforms, including cashmo.co.uk, casino2020.co.uk, mrspin.co.uk, bonusboss.co.uk, drslot.co.uk, pocktwin.co.uk, casino.mfortune.co.uk, slotfactory.com and mfortune.co.uk. In addition to the aforementioned measures and as part of a new licence condition, InTouch Games is required…

A few days ago, the shares of the largest UK gambling operator reached record highs, at a time when it has revealed that it is considering a possible stock market listing for part of its assets in the US. Flutter Entertainment shared that it could spin off a small part of its shareholding of FanDuel – an announcement that shot its stock up 6.8% that estimated the company at almost £30 billion. This basically means that the assets’ value has increased threefold in the last 12 months. Reportedly, Flutter Entertainment,…

The Chairman of the English Football League (EFL), Rick Parry, has warned that smaller football clubs, which are already struggling to manage financially because of the coronavirus pandemic, would be greatly affected by a possible ban on gambling sponsorship deals. As previously reported by Casino Guardian, football clubs are facing potential restrictions associated with sponsorship agreements as part of an extensive review that is being held by the UK government into the country’s gambling laws and which is expected to be finalised in the weeks to come. According to anti-gambling…

Two Members of Parliament, who are also part of the All-Party Parliamentary Group for Gambling Harm (APPG), have criticised the UK Gambling Commission (UKGC), saying it has failed the Football Index’ users. As revealed by The Athletic, this week politicians are expected to ask questions about the virtual stock market gambling website-related problem in Parliament. The MP from the Conservative Party Richard Holden told The Athletic that the UK gambling regulatory body must immediately address some crucial questions associated with oversight. According to Mr Holden, the existing regulation is unfit…

The British sports betting and gambling operator Entain has received all necessary regulatory approvals that would allow it to proceed with the planned acquisition of Enlabs. As Casino Guardian reported at the time, Entertain revealed the initial bid for the takeover deal in January 2021, only a few days after rejecting the acquisition offer of its US partner MGM Resorts. However, the takeover deal was rejected by some minority shareholders of the Baltic-facing operator Enlabs, saying that the offer “materially undervalued” the company. As a result, last week Entain decided…

In a report that is expected to be officially presented to the UK Government by the end of the day, a reputable think-tank has revealed that the implementation of stricter gambling legislation is likely to bring additional tax revenue and be boost the country’s economy. The report comes at a time when local lawmakers have been considering a long-awaited crackdown on the gambling sector. Although the staggering £8 billion have been contributed by gambling operators to the country’s economy in 2019, and another £4.3 billion have been received by the…

The minister who controls the gambling venues in the state of New South Wales (NSW) has shared his confidence that taxpayers will not pay the bill for any compensation to Crown Resorts in case the state Government changes its opinion on the gambling operator’s licence for the Sydney’s Barangaroo casino. At the beginning of the week, Victor Dominello, Customer Service Minister, faced a hearing regarding the estimates of the state’s parliament at which he was put under questioning regarding the compensation clause. The Australian casino giant could potentially ask the…

On Friday night, the UK gambling platform Football Index announced huge reductions in dividends, following new shares in players, issued just a few days before the major changes. This led to numerous angry customers who felt misled by the new shares that preceded the huge slump in dividends that led to the crash in the market on Saturday. The thousands of customers of Football Index are expressing their infuriation due to the inability to sell their shares after the reduction announcement, at least not without suffering major losses. As a…

The fate of Crown’s casino in Burswood is in the hands of a royal commission which is to determine whether the operator is eligible to keep its casino license. This was announced by the government of West Australia (WA), following the inquiry that deemed Crown Resorts unsuitable to operate its newest casino in Sydney. Lindy Jenkins and Neville Owen, both former WA Supreme Court judges, and Colin Murphy, former WA auditor-general, will be the three commissioners that will run the royal commission. Royal Commission to Investigate Crown’s Perth Casino According…