The Racing Post has confirmed that it will resume its print format and nationwide distribution of its newspaper on 1 June, coinciding with the resumption of UK racing. Since 26 March, the Racing Post has frozen its printing operations, as the racing publishing group adjusted to global business disruptions caused by the COVID-19 pandemic. During ‘downtime’, Racing Post has published …
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Hosting the UK government’s COVID-19 update yesterday evening, PM Boris Johnson announced the government’s provisional plans to re-open all non-essential retail businesses on 15 June. PM Johnson laid out the UK government’s plans to reopen England’s highstreet stores, obeying strict social distancing orders and ensuring that businesses can maintain employee safety. The government will manage a ‘staged reopening’, allowing outdoor …
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Codere SA is pursuing emergency financing options having failed to convince investors to back its business recovery plans, according to Spanish business news source La Razon. The embattled Bolsa Madrid gambling group has failed to secure a further €100m credit line to keep it’s Spanish and LaTam retail business units afloat during lockdown. On the edge of bankruptcy, Codere is …
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Scientific Games Corporation (SGC) has confirmed the inbound appointment of Michael Eklund as Group Chief Financial Officer (CFO). Eklund will join SGC’s executive leadership team on 1 June, taking control of the Nasdaq technology group’s financial planning, auditing and capitalisation structures. The appointment sees SGC secure a leading CFO for large scale technology enterprises, with Eklund having previously led diverse …
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ITV Racing has begun renegotiations of its broadcast contract with UK racing, in which it is claiming £1.5 million in compensation for the postponement of this year’s Aintree Grand National. Seeking to renew its contract, ITV Racing is reportedly trying to reduce its current broadcast fee of £7.5 million per season in view of this year’s disruptions. Racecourse Media Group …
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Svenska Spel has ushered in a ‘new era of gaming’ by announcing that it has deployed IGT’s ‘IGTPay’ cashless payment provisions across its venues. Sweden’s gambling monopoly has amplified its venue payments capacity, having recently upgraded its VLT operating platform to IGT’s ‘INTELLIGEN’ and Quasar systems. The upgrade enables Svenska Spel customers to have the option to transact safely and …
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Culture Secretary Oliver Dowden has outlined plans to resume live sport behind closed doors across the UK with the formation of a new taskforce. During last night’s Downing Street briefing, the Culture Secretary revealed that representatives from the arts, cultural and sporting world would be coming together to help get the UK’s recreation and leisure sectors up and running again …
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William Hill has followed counterparts Betfred and Rank Group Plc in issuing an HMRC claim on compensation owed from tax charges related to fixed-odds betting terminals (FOBTs). The FTSE bookmaker could stand to secure a multi-million £ tax rebate on FOBT charges issued between 2005 and 2013. William Hill’s HMRC rebate stands from an April High Court ruling that favoured …
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The French government has withdrawn its approval to allow racing to resume in areas still affected by the coronavirus outbreak, resulting in a suspension of racing at tracks including ParisLongchamp, Auteuil and Saint-Cloud. To mitigate the impact of COVID-19, the French government has recently classified different areas of the country into red and green zones – red being assigned to …
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Playtech Plc corporate performance remains in-line with expectations despite its business units trading in unprecedented circumstances. Playtech explained that its performance is currently tracking better than the company had anticipated in publishing its mid-March COVID-19 update. Publishing a snapshot of key metrics, Playtech detailed a ‘strong Q1 2020 period’, in which the FTSE technology group delivered an adjusted EBITDA of …
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