Finnish state-owned gambling operator Paf has announced that it will donate approximately €20 million to national charities and social initiatives, following its full-year 2016 financial update. A year of corporate restructuring, which saw Paf appoint former Tain Networks Executive Per Sahlberg as its new CEO. Paf would report flat-line corporate revenues of €113 million (FY 2015: €110 million). Nevertheless, Paf …
Read More »
Updating the market and media, the UK government has confirmed that 2017’s ‘Horserace Betting Levy Regulations’ has come into law as of the 25 April. The reformed levy marks a new era for the sports’ funding which will see all operators pay a 10% tax on profits generated from customers on UK racing bets regardless of wager vertical (online or …
Read More »
In a bid to outmanoeuvre Tabcorp Holdings and derail the firm’s planned AUS $11 billion merger with Tatts Group, the Pacific Consortium has offered Tatts investors a ‘deal sweetener’ should they favour their AUS $7.3 billion all-cash for Tatts assets. The joint-venture investment vehicle headed up London private equity firm Macquarie Group and New York hedge fund Kohlberg Kravis Roberts (KKR) will …
Read More »
Updating the market, New York-listed IGT Group Plc has confirmed the promotion of Fabio Celadon to the position of Senior Vice President of Gaming Portfolios. Celadon who formerly served the company as Managing Director of China and as Asian business lead for IGT International will take on the newly formed executive position reporting directly to Group CEO Marco Sala. IGT …
Read More »
The governance of the British Horseracing Authority (BHA) has stated that the snap UK General Election will not delay the introduction of UK racing’s central funding levy system. Last week Nick Rust Chief Executive of the BHA, confirmed that the Levy system had been approved by the European Commission, clearing a final hurdle for racing stakeholders. “With the final, outstanding …
Read More »
Cypriot business news sources report that the city of Limassol will gain the country’s first casino resort to be operated by the consortium of ‘Melco-Hard Rock’ (Melco International and Hard Rock Entertainment). The consortium expects to finalise contracts for a 30-year licensing agreement with the Cyprus National Gaming Board and Casino Supervision Commission this April. The Melco and Hard Rock …
Read More »
Updating the market this morning, London-listed racing technology and systems provider Sportech plc has confirmed that Roger Withers is set to retire as Chairman of the company and board on 24 May. A leisure and gambling expert who has held directorship positions at Playtech Plc and Arena Racing, Withers has led Sportech governance since 2011. Withers commented on his departure …
Read More »
Australian sports stakeholders are preparing to launch a fightback against the mandate put forward to the Malcolm Turnbull government which sets out to ban gambling advertising during sports broadcasts on all media verticals. This week Australian pro-sports executives were warned by Communications Minister Mitch Fifield that its restrictive gambling advertising mandate had been put forward to the cabinet for review, …
Read More »
The UK Department for Culture Media & Sports (DCMS) has chosen to delay the publication of its industry review of FOBTs practices and advertising standards following this week’s Snap General Election call by PM Theresa May. The report which is eagerly awaited by industry stakeholders was due to be published this April. However, in light of the General Election call …
Read More »
Updating the market, FTSE-listed Playtech Plc has informed that it has secured a ‘significant extension’ of its Rank Group contract for system provisions of UK Grosvenor casino estates. The agreement will now see Playtech further integrate table and slots management system across Grosvenor’s network of 54 UK casino estates, boosting Rank Group games management provisions. Moving forward all Grosvenor casino …
Read More »
SBC News Voice of the Sports Betting Industry