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Nasdaq-listed gambling and leisure group Caesars Entertainment Corporation has confirmed that President & Chief Executive Mark Frissora will depart the company in February 2019. Updating investors, Caesars governance details that it has begun its executive search for Frissora’s leadership replacement. Frissora took charge of an embattled Caesars Entertainment in February 2015, guiding the company through its Chapter 11 bankruptcy process …

UK Sports Minister Tracey Crouch has resigned from the Department for Digital, Culture, Media & Sports (DCMS), in relation to the government’s delay in implementing its £2 FOBTs stake reduction. Crouch had served as Sports Minister since 2015, leading the government’s relations with the UK betting and gambling sectors. Monday’s 2018 Budget announcement saw the Treasury confirm that it would implement …

The governance of Rank Group Plc has this morning disclosed the pending appointment of William ‘Bill’ Floydd as new Chief Financial Officer (CFO). Joining the company on 12 November, Floydd is set to replace Clive Jennings as group Financial lead. Floydd joins Rank’s executive team from FTSE100 financial information/data provider Experian Plc, where he served as CFO for the UK …

Stockholm Nasdaq-listed B2B fantasy sports supplier Scout Gaming Group has confirmed that it has secured an additional SEK 42 million (€4 million) in working capital, following the execution of a successful new share placement, made available to institutional investors. Updating investors, the board of Scout Gaming details that it has closed a private 900,000 new share placement, in accordance with …

Stockholm-listed online gambling group Cherry AB continues its strong 2018 momentum, reporting a further trading quarter driven by organic growth, delivering double-digit increases across its core metrics and KPIs. Publishing its Q3 trading update (period ending 30 September), Cherry reports a group revenue increase of 58% to MSEK 899 (Q3 2017: MSEK 567), with the firm delivering year-to-date revenues of …

FTSE250  bookmaker William Hill Plc is looking to grow its digital footprint and expand its European profile, putting forward a cash offer to acquire Stockholm-listed MRG Group (legacy Mr Green & Co) for a sum equivalent to €271 million.  This morning,  William Hill governance offered its opening SEK69 in cash per share to MRG investors, representing a total of SEK2,819m (€270.96m). To date, William Hill …

The executive of the Principality of Andorra has confirmed that it will require a month to review the complaint placed by European gambling operators against the issuing of the nation’s sole casino license to regional enterprise Jocs SA. Yesterday, Antoni Marti first minister of Andorra confirmed that the casino tender complaint put forward by European operators – Casinos Austria, Genting …

The UK government has released its policy paper supporting the 2018 Budget, detailing the Treasury’s fiscal planning, monetary policies and industry/commercial duties. The update confirms that the government will implement its long-awaited FOBTs £2 stake reduction from October 2019, a directive that will cost the Treasury £270 million in lost tax revenues by 2023/24. Making up for tax shortfall, the …

This afternoon, Chancellor of the Exchequer Philip Hammond delivered the UK’s ‘final budget before Brexit’, promising a ‘big give away’ for UK public services and healthcare. Prior to publishing the 2018 Budget, political commentators expected Chancellor Hammond to deliver a fiscal plan which would support PM Theresa May’s autumn declaration that the ‘era of austerity was coming to an end’. …

Four European gambling operators have demanded that the Andorran government suspend its pending casino licence, granted to regional enterprise Jocs SA. Citing a number of ‘grave tender process indiscretions’, Casinos Austria, Genting Group, Partouche France and Grupo CIRSA have ordered that Andorra’s government fully nullify its casino licence approval, awarded to Jocs SA last May. Seeking to support its tourism …