Updating the market, Oslo-listed Gaming Innovation Group (GIG) has confirmed that it has entered a binding agreement to acquire Scandinavian online gambling operator Betit Holdings (Betit) in a deal valued at €54 million. Signing a ‘letter of intent’, GIG is set to issue 153 million new shares in order to inherit Betit assets. Furthermore, industry venture financier Optimizer Invest, a leading …

Just one year after launching its German sports betting enterprise TIPP3 (Tipp3.de) European telecommunications giant Deutsche Telekom has terminated its subsidiary, following reports of significant underperformance. In April 2015, Deutsche Telekom governance announced that it had entered the German sports betting market, acquiring a majority 64% stake in Tipp.de Sportwetten GmbH owned by Deutsche Sportwetten, who would continue to manage …

Settling out of court with trade union Unite, Betfred has agreed to pay 88 workers of its defunct Wigan Tote Park call centre employee compensation totalling £470,000. The settlement will see an individual average payment of circa £5,300 per employee. Through trade union Unite the workers had issued legal proceedings calling for Betfred to honour redundancy terms relating to contracts …

Finland’s Economic Committee has announced the appointment of Olli Sarekoski as new Chief Executive of state-owned gambling enterprise Veikkaus. This month the committee had informed that state-owned gambling assets RAY, Fintoto and Veikkaus would operate under the principal brand of ‘Veikkaus’, following 2015s decision to merge all enterprises under a single entity. Promoted to CEO of Veikkaus, Sarekoski has held numerous executive positions …

Amaya INC governance has met with shareholders at yesterday’s Annual General Meeting (AGM), discussing the company’s current position regarding the potential management takeover by former CEO & Chairman David Baazov. Company stakeholders remained tight-lipped regarding discussions, disclosing no information to news sources (media were not allowed at the AGM). The AGM was the first meeting between Amaya governance and investors …

Norway state-owned gambling operator Norsk Tipping has confirmed the appointment of Asne Havnelid as its new Chief Executive replacing Torbjørn Almlid who announced his departure in March. Havnelid takes over leadership of Norsk Tipping, having held the position of Secretary General for the Norwegian Red Cross for the past five years. Norsk Tipping governance stated that Havenelid would take over …

Last Thursday’s ‘BREXIT’ vote sent shockwaves throughout all global stock markets. Scott Longley details the impact of the ‘Leave’ vote on UK-listed betting firms’ and their operations. An industry that has undertaken recent multi-billion £ consolidation and M&A activity, betting governance will be weary of economic uncertainty and regulatory impacts to operational hubs in Gibraltar.  __________________________ The leading UK-listed gambling …

Betfair has placed UK Home Secretary Theresa May as 11/8 market favourite to replace David Cameron as Conservative Party leader. With the Tory party in political turmoil following last Friday’s leadership resignation of  David Cameron, May becomes the market favourite having been branded as the  ‘Stop Boris’ candidate. ‘Leave’ campaign leader Boris Johnson has been placed as a close 11/5 …

Stockholm-listed online betting operator Betsson AB has confirmed the appointment of London marketing agency Leo Burnett as its international advertising strategy and creative lead for Betsson.com Leo Burnett has previously worked on creative and advertising strategies for Ladbrokes, won the business pitch run by marketing consultancy Agency Insight, beating Mullen Lowe London for the account. The agency will now be …

Issuing a preliminary Q2 2016 trading update Stockholm-listed online betting operator Betsson AB has detailed that its corporate performance has been impacted by lower sportsbook revenues and continued exchange rate fluctuations. Updating investors ahead of its full Q2 2016 performance breakdown, Betsson governance detailed that it expected to post group revenues between SEK 920–945 million, with the company targeting a …