Retail

UKGC forms ‘lived experience’ advisory group on gambling harms

The UK Gambling Commission (UKGC) has established an interim ‘Experts by Experience’ (EbE) group formed by individuals who have suffered a from a wide range of gambling harms and addictions. The group will broaden the UKGC’s advice, recommendations and evidence with regards to policy-making on reducing gambling harms, raising safer gambling standards and understanding gambling’s impact on society. The creation …

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BGC: Charities win big as bookies take beating in Britannia Stakes

UK Bookies have raised £250,000 for Cancer and Covid-19 charities after taking a beating on Thursday’s Britannia Stakes race at Royal Ascot. Earlier this week, Betting and Gaming Council (BGC) members vowed to donate all profits, after levy and duties were deducted, from win and each-way bets made on the race to charity. Participating bookmakers included Paddy Power Betfair, bet365, …

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Scottish racing to resume from 22 June

Scottish racing has been given the green light to resume behind closed doors from 22 June after the country’s government confirmed that professional sport can resume in line with the move to Phase 2 of its Covid-19 route map. Following an announcement from Scottish Racing and the British Horseracing Authority (BHA), the sport must follow strict health and safety guidelines …

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DCMS: UK gambling divided on COVID-19 business resilience

A business survey carried out by the Department of Culture, Media and Sport (DCMS) has revealed that UK gambling firms have been divided in their response to Coronavirus restrictions, with only one-third of corresponding companies accessing government support. DCMS’ survey, entitled The Coronavirus Impact Business Survey, suggested that the majority of gambling companies were land-based, however the specific details of …

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Scientific Games expands SGI debt placement to $550m 

Scientific Games Corporation (SGC) has confirmed that it will upsize its previously announced senior unsecured debt note placement from $350 million to $550 million.  The debt placement will be carried by SGC’s global operating unit Scientific Games International (SGI), priced at $550 million with an applied principal aggregate of 8.6% due for repayment in 2025. Net proceeds secured from the …

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Italian betting begs for mercy on final Revival Decree conditions

Italy’s 6,000 betting shops reopened this Monday (15 June) to yet another ‘new dawn’ facing the government’s additional 0.5% wagering tax applied across all betting-related verticals (retail, digital and virtual sports). The temporary GGR tax is calculated on betting turnover and will be combined with existing net betting duties of 20% for retail, 22% for virtual games and 24% for …

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Irish bookmakers demand clarity on reopening orders

Confusion reigns with regards to Irish bookmakers reopening their venues, as the government orders betting shops to remain closed until 29 June.  This week, a reported 800 Irish betting shops reopened their businesses on Monday 15 June, believing to have complied with the Irish government’s ‘phase two’ Coronavirus national plan.  However, within 24 hours Irish betting firms were instructed to …

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Hong Kong racing bucks trend by upping prize money

Hong Kong racing has revealed that for the 2020/21 season, it will be offering HK$1.4 billion (£143.5m) in prize money, marking a new record for the sector. Total prize money for the 2020/21 season’s 88 meetings at Sha Tin and Happy Valley is up by approximately 4.9% on 2019/20, and comes at a time when Hong Kong is looking ‘to …

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William Hill secures £224m bookbuild in less than 24-hours  

William Hill Plc has achieved its bookbuild funding target, raising £224 million in working capital for its future growth strategy, maintaining its digital growth momentum, and accelerating its US wagering partnerships. Closing trading on Tuesday 17 June, William Hill announced that it had sanctioned a new share placement for 19.99% of the firm’s existing share capital. In less than 24-hours, William …

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William Hill plans for future with new share placing

William Hill is raising a war chest to fund its long-term growth ambitions, mainly in the US sports betting market. Alongside a positive trading statement on Tuesday 16 June, the FTSE250 betting group said it intends to issue a new ordinary share placement for 19.99% of its existing share capital. CEO Ulrik Bengtsson was upbeat about the company’s performance over …

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