Company Reports

The gambling operator Sky Bet ended its latest “Commentator Bingo” betting market ahead of the match between Manchester United and Liverpool that took place on January 17th, following some concerns shared by Twitter users. In the so-called novelty market, punters were allowed to place wagers on the exact words and phrases that were used by the commentators who participated in Sky Football’s live match commentary – Gary Neville, Martin Tyler and Jamie Carragher. However, an issue occurred at the time as Twitter users shared they were not sure whether Sky…

The UK subsidiary of Genting Malaysia Bhd seems to be finding the coronavirus pandemic situation quite problematic. So far, the Covid-10 crisis has forced Genting UK to close three of its casino venues – the ones in Bristol, Torquay and Margate – and to reduce its workforce at its operations in London, Blackpool, Birmingham, Glasgow and Edinburgh. Now, the local subsidiary of Genting Malaysia is being forced to permanently close another property, its Genting Casino Southport, and is currently in a consultation phase with the 38 employees who used to…

Gambling operators in the UK have been accused of mixing a “dodgy dossier” to make the scale of betting on the black market stronger as part of their efforts to affect the Government’s upcoming review of the sector that is likely to result in stricter regulation of the country’s gambling market. According to figures that have recently been seized on a report of the gambling industry, a stricter legislative and regulatory regime could encourage a large number of people to start betting with rogue gambling companies operating in the black…

The British bookmaker William Hill has revealed a sharp decline in revenues as a result of betting shop closures and lockdown restrictions because of the ongoing coronavirus pandemic, even with its online operations registering growth. On January 13th, the group issued a trading statement, projecting that its 2020 full-year revenue would be about 16% lower than the one registered in 2019, or about £1.3 billion. William Hill further said that it expected its retail unit to post a £30-million year-on-year loss because of the challenging conditions faced by its land-based…

The gambling software giant Playtech has been boosted by the successful debut of bet365 in the flourishing US sports betting market. The Isle of Man-based gambling software developer said that it expected to surpass analysts’ expectations for its full-year results. Currently, the US is seeing a rapid increase in gambling popularity thanks to the repeal of the long-time ban on sports betting in the country. As revealed by Playtech, the launch of bet365 and Entain, formerly known as GVC Holdings, in the state of New Jersey meant that its earnings…

The gambling and sports betting group Entain plc, which was formerly known as GVC Holdings, officially announced yesterday that its Chief Executive Officer (CEO) Shay Segev is to leave the company. As Entain revealed, Mr Segev has given notice of his decision to step down from his role in the British gambling group and occupy the Co-CEO position at DAZN, a privately-owned international sports streaming platform. Mr Shay will have a 6-month notice period and is set to remain in the Chief Executive role for the aforementioned period or until…

The chairman of the biggest stakeholder in MGM Resorts – IAC – has shared he doubted that the acquisition bid of the US casino giant for the UK gambling company Entain will be successful. Despite a few days ago IAC pledged to provide MGM Resorts with financial support amounting to $1 billion for the deal, Barry Diller told the Financial Times that he was sceptical about the outcome of the proposed takeover deal. Still, Mr Diller shared that he remained “absolutely sure” that whatever happens with the acquisition bid, MGM…

The British sports betting and gambling company Entain plc, which owns the popular bookmaker brand Ladbrokes Coral, has reached an agreement to purchase Swedish online gambling and sports betting firm Enlabs at the price of £250 million. The deal comes at a time when there has been an increased movement towards further consolidation across the gambling sector. On January 7th, the group, which owns a range of brands operating in the sector, including Bwin and Partypoker, revealed that it had made an all-cash bid for Enlabs’ assets. The SKr40 per…

The British investment banking specialist Peel Hunt has unveiled its selection of companies that, according to the firm, have growth potential in 2021, and the online gambling company 888 Holdings has been one of them. After the hard financial year, which 2020 turned out to be because of the coronavirus pandemic outbreak, the analysts working at Peel Hunt have selected 41 companies, which operate in 13 sectors, and which are considered to have considerable growth potential for 2021. The average market capitalization of the 13 sectors has been estimated at…

The latest bid of MGM Resorts to purchase Ladbrokes’ owner Entain Plc, which was revealed at the beginning of the week, has come as just another confirmation of the fact that US firms are increasingly circling UK bookmakers. As it became clear yesterday, Entain has become the latest British gambling operator to be targetted by a US gambling giant. On January 4th, MGM Resorts revealed that it made a second takeover offer to Ladbrokes’ parent company. Entain, which is already present in the US, confirmed that it received an $11-billion…