Europe

Flutter calls for £850m private placement capitalising on disruptions

Flutter Entertainment Plc has this afternoon confirmed that it plans to sanction a private placement of 8 million corporate shares made available to ‘institutional investors’. The enlarged FTSE100 gambling group seeks to raise a further £850 million in working capital, strengthening its liquidity to take advantage of the short and long-term opportunities presented by a disrupted marketplace. Confirming the placement, …

Read More »

MGA survey reveals investment postponements as COVID-19 biggest rupture 

Conducting a survey among its licence holders, the Malta Gaming Authority (MGA) has published first insights of the impact of the COVID-19 pandemic on Malta’s online gambling sector. The study, carried out in April by the MGA’s ‘Information & Research’ unit, detailed pandemic impacts on each individual licensee segment including B2C operators, technology providers, marketing services and operations. “The survey …

Read More »

Cloudbet makes stablecoin foray with USDT addition

Bitcoin sportsbook and casino Cloudbet has made its first foray into stablecoin betting after confirming the addition of USD Tether to its portfolio of available coins. After a month of testing with a small group of players, Cloudbet will now allow punters to deposit, withdraw and bet using the USDT coin. “We’ve accelerated our feature rollouts tremendously, thanks to the …

Read More »

Playtech calls for internal review following PTES failures 

Playtech will implement a review of the ‘group’s position’ led by Interim chair Claire Milne, in response to the UK Gambling Commission (UKGC) publishing its investigation into ‘systemic failings’ of defunct subsidiary PT Entertainment Services (PTES).  The Board of FTSE technology group confirmed that it ‘takes full responsibility and apologises for the regulatory breaches’, emphasising that the AML and social …

Read More »

PA Betting Services: Meeting demand for esports in-play action

esports

Jack Kelliher, Commercial Manager for PA Betting Services (pictured), discusses the unforeseen esports events in lockdown, the ‘pulling power’ of large brands to attack the space, popular objections for those nervous about getting involved, and the trading advantage to setting prices against those for other major betting sports. SBC: With the betting world now having had time to readjust to …

Read More »

Soft2Bet: Why diversification of white label products is essential in complex times

Soft2Bet

Boris Chaikin, CEO at Soft2Bet, talks to SBC News about boosting its catalogue of esports and virtual sports titles at the first sign of disruption to live sports, using the ‘hiatus’ to apply a raft of fresh features, and how the the crisis has magnified the need for white label providers to cover non-mainstream sports alongside traditional favourites. SBC: With …

Read More »

Codere records 10X losses seeking vital lifeline 

Embattled Codere SA has published its Q1 2020 trading statement, declaring group-wide losses of €97m as the company continues to seek vital funding for its operating units. The figure represents a 10X increase on its corresponding Q1 2019 losses of €8.6m, as Codere’s European and South American gambling venues have ceased trading due to the COVID-19 global pandemic.  The Bolsa …

Read More »

HRI boosts coverage of Irish racing with RTÉ agreement

Goodwood - Copyright: nadak2 / 123RF Stock Photo

Marking the return of racing, Horse Racing Ireland (HRI) has secured a new broadcast agreement with Raidió Teilifís Éireann (RTÉ) to boost the coverage of the sport. As part of the agreement, RTÉ confirmed that it will be launching a series of new one-hour evening programmes on Fridays, Saturdays and Sundays in June and early July. Coverage will be presented …

Read More »

Irish bookmakers to reopen on 29 June

Irish bookmakers will reopen their doors on 29 June, as the country enters phase three of the Government’s strategy to ease COVID-19 measures. The confirmation follows a meeting of Irish Bookmakers Association (IBA) members, which revealed that an agreement has been reached to reopen 755 of the nation’s 814 betting shops. Ireland closed its betting shops in mid-March, for a …

Read More »

PMU begins search for President as Méheut steps down

French sports and horse race betting operator Pari-Mutuel Urbain (PMU) has begun its search for a new President after Bertrand Méheut resigned for the position on 26 May. The resignation comes as Méheut expressed his plan to ‘devote himself fully to other professional projects as well as to personal commitments’. Cyril Linette will remain as the Director General, taking responsibility …

Read More »