Richard Glynn CEO of troubled gambling operator -Ladbrokes PLC, has been awarded a staggering 85% total remuneration rise as the firm’s operating profits plunged by a reported 33%.The news comes as a surprise to the gambling and sports betting industry, as Glynn’s position as the head of Ladbrokes operations, has come into question with many industry commentators forecasting the CEO’s …
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Online payment service provider SafeCharge, a majority owned company by Israeli igaming magnet Teddy Sagi, has announced its intentions to raise about $100 million by listing its shares on London’s junior Alternative Investment Market (AIM) stock exchange. A Company statement read that the payment provider was eyeing an April date for its flotation and further funding on the AIM. The …
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Paddy Power has been warned over its future conduct by the Advertising Standards Authority (ASA) following its investigation into the bookmaker’s newspaper advert in The Sun on Sunday around the Oscar Pistorius trial. The advert, which offered ‘money back if he walks’, promoted a market on whether the South African Olympian would be found guilty or not of the accusation …
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Shares in Ladbrokes fell by almost 12 percent to 139.8p yesterday, while market leader William Hill was down 7 percent at 350.1p, as the market responded to Chancellor George Osborne’s latest tax raid on the betting industry. The Treasury increased the rate of Machine Games Duty (MGD) on games with a stake higher than £5 from 20% to 25%, with …
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Sports bettors on Twitter can now find out football results before they happen with the launch [email protected] new proposition from BETEGY, a sophisticated online and mobile prediction tool that accurately forecasts outcomes of matches and a range of betting markets, provides instant responses via Twitter, where sports events are among the most popular discussion topics. During the 2013 Champions League final …
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Spanish media giant MARCA, famous for its daily coverage of Real Madrid, has entered the social gaming arena thanks to a partnership with social betting technology supplier Oddslife Ltd. Using the Oddslife platform, MARCA has launched ‘MARCA EL GURU’ – a customised social sportsbook platform that allows users to engage and compete with each other using their knowledge of sports. …
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The Association of British Bookmakers (ABB) claims that Chancellor George Osborne’s increase in tax on B2 Gaming Machines to 25% could see 30 per cent of the country’s betting shops in jeopardy. The organisation said in a statement: “The impact of the new Machine Games Duty (MGD) which came into effect last year and cost the industry an extra £50 …
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The Remote Gambling Association (RGA) has restated its view that (i) a rate of 15% for the new point of consumption tax is too high; and (ii) the regime still does not appear to make allowances for bonuses and incentives. This heightens the risk that British licensees will lose significant market share to black market operators and that this will …
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In an unexpected blow for the bookmaking sector, Chancellor George Osborne has announced that the Machine Games Duty tax rate for B2 gaming machines is to increase to 25% from 20%. In the budget statement, Osbourne said: “The Department of Culture, Media and Sport has a review underway to consider the regulation of Category B2 gaming machines (also known as …
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The Rank Group has committed to a programme of investment and job creation in its bingo clubs as a consequence of today’s Budget announcement that bingo duty would be reduced from 20% to 10%. The duty reduction brings the taxation of bingo into line with most forms of gambling in Great Britain, including sports betting, football pools and online gambling …
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