Flutter Entertainment Plc, the rebranded entity of Paddy Power Betfair, has seen its interim H1 2019 profits before tax drop by 24%, as FTSE100 betting group cites changes in regulations and taxation as the lead factor in its year-on-year performance decline. Operating its enlarged portfolio of Paddy Power, Betfair, FanDuel (US), Sportsbet (AUS) and the recently acquired Adjarabet (CIS), Flutter saw …
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The partnership between Racecourse Media Group (RMG) and Goodwood Racecourse led to the successful broadcasting of last week’s Qatar ‘Glorious’ Goodwood Festival. The five-day meeting, which was broadcast worldwide, had attracted additional interest from North America, and with the sport seemingly growing in popularity in that region of the world, organisers are hoping the increased interest continues. When asked about …
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Bolsa Madrid gambling firm Grupo Codere SA has caused controversy with its appointment of former Spanish Justice Minister Rafael Catala as a corporate advisor. Codere has stated to Spanish media that Catala a figurehead of Spain’s Partido Popular (Conservative Party) and former board member of the company between 2005-2011, will act as a ‘legal and regulatory advisor, with no executive …
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Kambi Group has significantly advanced its US profile by securing a ‘multi-state sportsbook services agreement’ with Penn National Gaming. Updating investors, Kambi details that it will become the lead sports betting systems and software supplier to Penn National, ‘North America’s largest regional gaming operator’, servicing both its on-property and digital disciplines. Nasdaq-listed Penn National operates more than 40 gaming facilities …
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New York-listed gambling technology group International Game Technology Plc (IGT) has moved to strengthen its corporate advisory confirming the appointment of Dr Samantha Ravich as an Independent Director. A scholar in national security development, political science and cybersecurity defence measures, Dr Ravich is the current Chair of the Center on Cyber and Technology Innovation at the ‘Foundation for Defense of Democracies’, …
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Industry sports betting and turnkey platform provider FSB Technology (FSB) has accelerated its enterprise strategy, having secured £23 million in working capital from Toronto TSX-listed private equity firm Clairvest Group Inc. The growth equity investment sees Clairvest become the majority investor in FSB, as the technology firm seeks to expand its platform services across regulated markets to help industry incumbents …
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New York-listed gambling technology group International Game Technology Plc (IGT) has amended and extended the terms of its multicurrency revolving credit loan facility. The group said it has extended the ‘maturity date’ of its corporate credit facility from 26 July, 2021 to 31 July, 2024. IGT’s multicurrency credit loan facility was originally sanctioned in July 2017. Moving to lower its ‘aggregate …
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Stockholm-listed sports betting platform provider Kambi Group Plc has attributed its success during Q2 2019 to a growing number of partnerships across both Europe and the US, despite facing ‘tough comparatives including the 2018 football World Cup’. Recording a revenue figure of €21.6m, a jump from the previous figure of €17.6m, Kambi has moved towards forging new partnerships across European markets. …
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Industry affiliate Better Collective A/S has advanced its US strategic agenda by acquiring Florida-based Vegasinsider.com and Scoresandodds.com in a $20 million cash transaction. Updating investors, Better Collective said that it has significantly expanded its US portfolio by acquiring two of the most trusted sports betting wagering portals which maintain a legacy of ‘more than 20-years’ experience in offering premium sports picks, content, …
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SIS (Sports Information Services) has struck a deal to supply its British and Irish greyhound racing content to AmWest Entertainment, the parent company of AmWager.com. SIS will provide live streams and data from up to 33,000 races per year, taken from the 53 meetings per week racing schedule of British tracks including Central Park, Crayford, Doncaster, Harlow, Henlow, Hove, Monmore …
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