Retail

Rank progress impacted by venue declines & digital obstacles

Ahead of its Annual General Meeting (AGM), London-listed Rank Group Plc has released a trading statement, updating investors on corporate performance for the 16-week period to 14 October 2018. Rank governance details that group like-for-like revenues have declined by 5%, with the company impacted by a slowdown of its venue properties – Grosvenor Casino and Mecca Bingo domains. ‘Grosvenor Casinos’ …

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GVC Holdings confident of delivering its 2018 targets & objectives

Publishing its Q3 2018 trading update (period ending 30 September), FTSE100 betting group GVC Holdings details continued corporate growth and progress on its core strategic objectives. The enlarged FTSE firm continues its strong digital momentum, recording +28% period NGR increase, detailing growth across all its major operating territories. Boosted by the closing stages of World Cup Russia 2018, GVC sports …

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New retail landscape puts DAREBS into the Betting on Sports spotlight

DAREBS

The Dynamically Animated Real Event Betting System (DAREBS) from Inbet Games was thrust into the spotlight at Betting on Sports for its potential to provide bookmakers with the “same profit-making capacity” after the £2 FOBT ruling comes into force. DAREBS is well-placed to replicate the entertainment and revenues provided by the FOBT, while sparing bookmakers with a licensing headache over …

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Tilman Fertitta puts forward bold Caesars & Golden Nugget merger bid

US news sources have reported that casino and leisure mogul Tilman Fertitta, seeks to merge his Golden Nugget Casinos corporation with Caesars Entertainment. Fertitta the owner of NBA franchise the Houston Rockets, operates Golden Nugget Casinos through his privately owned leisure and hospitality group Landry’s Inc. Early news reports by CNBC Business and Reuters detail that Fertitta has approached Caesars …

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Tabcorp shareholders dispute executive merger rewards

The governance of Australia ASX-listed Tabcorp Holdings has been served a bloody nose, as a significant number of its investors have rejected the firm’s executive remuneration report. This Wednesday, 40% of Tabcorp investors voted against 2017/18 executive packages. Australian business news sources report that investors had been incensed by the company attaching executive performance rewards (bonuses) to Tabcorp’s AUS $11 …

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New journey begins for Olympic Entertainment as Odyssey completes takeover

Legacy Eastern European gambling operator, Olympic Entertainment Group (OEG) begins a new chapter as a private enterprise. Last Friday, OEG governance completed the firm’s delisting from the Tallinn Nasdaq Exchange, as private equity firm Odyssey Europe completed its €290 million outright takeover of OEG, a transaction first announced on 19 March 2018. Prior to the company hosting its ‘extraordinary general …

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Government rejects calls for new racing body

The government has issued its support to the British Horseracing Authority (BHA), after a petition lobbied for the group to cease responsibility of racehorse welfare. The e-petition, which was signed by more than 105,000 signatures, led to the issue being debated in Westminster. However, the government used the debate to praise of the work of the BHA, before confirming that …

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Paddy Power Betfair issued £2.2m penalty package

Paddy Power Betfair has been fined £2.2m after an investigation by the Gambling Commission found that the UK operator was guilty of various social responsibility shortcomings. The UKGC investigation brought to light that the firm had failed to intervene when a bettor played with large sums of stolen charity money on its site, as well as falling short when it …

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UKGC fines independent bookmaker Mark Jarvis £94,000 for interaction failures

The UK Gambling Commission (UKGC) has fined independent bookmaker Mark Jarvis £94,000 for failing to interact with a customer that displayed problem-gambling traits. Reporting over a period of 19-months, the UKGC details that Leicester highstreet bookmaker Mark Jarvis failed to follow adequate social responsibility procedures, relating to a customer who spent £34,000 on its B2 gaming machines. In its report, …

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Ireland’s tax double sees Boylesports warn staff of job losses

Boylesports, Ireland’s second largest bookmaker, has warned its staff that jobs are at risk following the government’s decision to double the nation’s betting revenue tax to 2%. Last week, Ireland’s Minister of Finance Paschal Donohoe delivered a damaging budget for industry stakeholders, implementing higher taxes on retail and digital betting verticals. Dundalk-headquartered Boylesports, which operates 250 betting shops across Ireland, …

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