Embattled Spanish gambling group Codere SA has agreed terms on a new ‘refinancing proposal’ with existing bondholders, which will allow the firm to access a further €250 million credit extension. Following weeks of negotiations, Codere has secured the vital liquidity funding to keep its Spanish and South American business units afloat. US bondholders Jupiter AM, Dryden Capital, Invesco and Blackrock …
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Voting 248-to-95, Ukraine’s Verkhovna Rada (parliament) has approved the mandate of ‘Bill-2285D – Gambling Law’, passing the legislation to ‘form a new market for regulated gambling’. The approval will allow Ukraine’s government to repeal its existing ‘Prohibition of Gambling Law’, which has held a blanket ban on all forms of gambling except state-run lotteries since 2009. The overhaul of Ukraine’s …
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The Betting and Gaming Council (BGC) continues to pressure the government on delivering clarity to the UK casino sector and its workforce, following the disappointing news that casino venues will not be allowed to reopen this July. Branded in the same category as nightclubs, England’s casino venues were told to remain in lockdown, and given no indication as to their …
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The Hong Kong Jockey Club (HKJC) has confirmed that it has closed seven of its off-course betting branches (OCBBs) following a spike in coronavirus cases. Raising concerns over the ‘worsening COVID-19 situation in Hong Kong’, the HKJC emphasised that it is monitoring the situation to work out whether more OCBBs will be required to temporarily close. Services at OCBBs which …
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There was relief for Scotland’s 900 betting shops after the Scottish government confirmed that it will revoke its in-store restrictions, which have caused havoc on reopening arrangements. Scottish bookmakers were allowed to re-open their businesses on 29 June, beginning their recovery from lockdown. However, last-minute orders by the SNP forced shops to remove in-store seating, as well as turn-off machines …
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The Betting and Gaming Council (BGC) has published a personal statement from Andy Bennett, a betting shop manager of regional bookmaker Scotsbet. Bennett, a shop manager of Scotsbet Selkirk located in the constituency of Ettrick, Roxburgh and Berwickshire, has branded the Scottish government’s bookmaker reopening requirements as both ludicrous and out of touch. Scotland’s 900 betting shops were allowed to …
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Tabcorp Holdings has been forced to close a significant number of TAB betting shops and agents across Victoria, after State Premier Daniel Andrews enforced a further coronavirus lockdown. On Monday, following a spike of more than 200 new cases in the district area of Melbourne, the Victoria government issued a border closure between Victoria and New South Wales – Australia’s …
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Casino venues remain in the lurch with regards to their future schedules, as the government denies them a July reopening. Yesterday afternoon, DCMS Culture Secretary Oliver Dowden announced the government’s latest easing orders for leisure and hospitality businesses – a ‘significant lifting of lockdown restrictions for arts, entertainment and sport’. From this Saturday (11 July), England’s outdoor pools, sports pitches …
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Shareholders of GVC Holdings and MGM Resorts have sanctioned a further funding round in joint-venture property ROAR Digital, increasing investment in the US market venture to $450 million. The funding is approved to accelerate ROAR’s flagship sportsbook property of BetMGM, which since its launch in 2018 is on track to operate in 11 US states by the end of year …
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The New South Wales Office of Responsible Gambling has supported local initiatives that focus on problem gambling prevention and harm minimisation by awarding grants in excess of AU$1.5 million. The ‘Local Prevention Grants Program’ has distributed the funds across 14 different projects which target a diverse population including those with a focus on Aboriginal communities, culturally and linguistically diverse communities, …
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