Ted Menmuir

Catena backs i15Media’s new acquisition phase

Seeking to boost its US market profile and coverage, Stockholm-listed Catena Media confirms that it has entered a strategic arrangement with ‘i15Media’, the media investment vehicle established by Chris Grove and Kendall Saville. Updating the market, Catena governance confirms that it has completed its buyout of i15Media US assets, initially triggered in December 2016. Further to the earn-out, Catena governance …

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UK recovery sees 888 confident of delivering on 2019 expectations

London-listed enterprise 888 Holdings is confident of delivering on its full-year 2019 earnings expectations after closing the year with revenues at an “all time high” for December trading. 888’s strong H2 performance was ‘underpinned by the continued success of the Group’s Orbit casino platform’ which was launched across a number of regulated markets. It also sustained improved revenues across its sport betting …

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SEGOB Mexico appoints Cota Montaño as new ‘gambling general’

Olga Sanchez Cordero, Secretary of Governance of Mexico (SEGOB), has disclosed that Leonel Cota Montaño has been appointed as the Secretary-General of gambling supervisory department ‘Dirección General de Juegos y Sorteos’ (Games & Lotteries Mexico). A Labour Party (PT) political veteran, Cota Montaño is the former governor of the state of Baja California Sur (1999-2005) and will take leadership of …

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Codere renegotiates Panama Equestrian prize fund

Bolsa Madrid gambling group Codere SA will maintain its Panamanian horseracing capacity having negotiated a ‘happy arrangement’ with Panama’s Equestrian Guild to resolve a dispute on prize funding. Conducting negotiations with Panama’s government, Codere has agreed to pay half of the $8 million prize fund of 2020 schedule, a sum desired by the Equestrian Guild meeting the expectations of its …

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Inbound Spanish Coalition appoints Alberto Garzon as gambling supervisor

Despite failing to secure a parliamentary majority, the agreed ‘socialist coalition’ of PSOE and Podemos (minority partner) have confirmed that Alberto Garzon Espinosa will be appointed as Minister of Consumer Affairs to oversee Spain’s gambling regulatory development. On Sunday, Spain’s parliamentary vote saw PSOE leader Pedro Sanchez fail once more in his attempt to secure a governing majority despite Catalan …

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FSB takes control of ‘in administration’ Black Type

Sports betting technology supplier FSB has issued a corporate statement on the website of white label sportsbook Black Type (BlackType.bet), confirming that the racing specialist bookmaker has entered administration and will ‘wind down all business affairs’. Black Type management’s decision has forced FSB to take control of the sportsbook to protect all customer funds and honour all open wagers. “We …

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Inbound Swedish reforms to toughen advertising and online casino requirements

Ardalan Shekarabi, Sweden’s Minister of Social Security, has told national media that the government is ready to publish ‘stage two’ of its regulatory approach on gambling, focusing on enforcing tougher advertising and marketing restrictions upon licensed incumbents. Recognised as one of the highest-profile MPs within the governing Socialdemokraterna (social democrats) party, Shekarabi is the former Minister of Civil Affairs, who …

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LeoVegas appoints Johan Rikner as group digital marketing lead

Stockholm-listed LeoVegas AB has continued to restructure its marketing leadership, after confirming the appointment of Johan Rikner as new Digital Marketing Director. Detailed as a key leadership appointment for 2020 directives to Swedish business news source Resume.se, Rikner is the former founder of Nordic native and press advertising publisher Nyheter365 (‘News365’) – a business acquired by Stockholm marketing group Mediaplanet in …

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Spanish coalition pact outlines gambling reform as a ‘concrete directive’

Spanish news sources report that gambling incumbents are set to be hit with further restrictions and reforms as the PSOE minority government agrees to a ‘governing pact’, forming a socialist coalition with minority partner Podemos. This weekend, Prime Minister Pedro Sanchez (PSOE) negotiated coalition terms with Podemos counterpart Pablo Iglesias, seeking to break through a political impasse which saw Spain …

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Codere secures €36m credit line to fund Mexican outlook

A filing placed with Spain’s CNMV capital markets commission has revealed that Codere SA has secured terms on two corporate credit lines, obtaining approximately €36 million in working capital to help the Bolsa Madrid gambling group maintain its Mexico and Uruguay business subsidiaries. The transaction sees Codere governance expand the volume of its existing €90 million revolving credit facility, of …

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