Retail

Increased costs and taxes see Betfred ‘in the red’ for 2015

SBC News Increased costs and taxes see Betfred 'in the red' for 2015

Despite increasing corporate revenues to £10 billion, UK bookmaker Betfred has posted an operating loss of £76.6 million (52-week period ending 27 September 2015). Filing its annual return with UK Companies House the Manchester-based operator reported that its financial performance had been impacted by increased gambling taxes which lowered operating margins. Furthermore, the bookmaker like its industry competitors was hit …

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BREXIT sees Davy downbeat on industry growth forecasts

SBC News BREXIT sees Davy downbeat on industry growth forecasts

Financial advisory group Davy has lowered sector-wide growth forecasts for UK-listed gambling operators as a result of BREXIT. The ‘Leave’ outcome has forced Davy to review the current positions of listed gambling operators as the UK economy faces months of fiscal and legal uncertainty.    Issuing a market note, Davy analysts detailed that UK legacy operators with both large retail …

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Codere in ‘conflict of interest’ lawsuit following Martinez Sampedro share dilution

SBC News Codere in ‘conflict of interest’ lawsuit following Martinez Sampedro share dilution

Embattled Spanish gambling operator Grupo Codere has been issued a lawsuit by ‘former Codere shareholders’ regarding its April share capital disbursement which saw the controlling Martinez Sampedro family reduce its corporate equity to 2%. The share dilution which aimed to raise + €450 million in capital in order to ease the company’s + €1 billion debt with existing creditors is …

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Equotion announces funding round success and Graham Martin as Chairman

SBC News Equotion announces funding round success and Graham Martin as Chairman

Yorkshire based firm Equotion Ltd has announced two major pieces of news for the company this week. The first is the completion of a significant funding round and the second the appointment of Graham Martin as Non-Executive Chairman. Martin is the Founder of Bonne Terre, the licence holder for Sky Betting & Gaming, and he joins CEO James Waterhouse, Chief Data Scientist …

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Friedrich Stickler becomes a consultant for Novomatic Group

SBC News Friedrich Stickler becomes a consultant for Novomatic Group

Novomatic has announced that Friedrich Stickler, President of the European Lotteries Association for six years between 2009 and 2015, became a consultant for the group on July 1. Stickler, a long-standing board member of the Österreichische Lotterien GmbH, will support Novomatic with the expertise and experience he has built up over decades in gaming and lotteries. He will play a …

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Gambling Commission reveals £12.6 billion gross gambling yield

SBC News Gambling Commission reveals £12.6 billion gross gambling yield

The Gambling Commission has revealed that the total gross gambling yield (GGY) for the Great Britain gambling industry was £12.6 billion between October 2014 and September 2015, an increase of £1.4 billion on the figure recorded for the previous 11-month period (April 2014 – March 2015). This was a key part of the figures released by the Commission to provide a more …

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Philippine Crisis as Rodrigo Duterte targets gambling operators

SBC News Philippine Crisis as Rodrigo Duterte targets gambling operators

The Philippines gambling sector faces a period of uncertainty as  newly elected Prime Minister Rodrigo ‘Roa’ Duterte has ordered the national gambling regulator to stop processing licensing applications for e-bingo parlours and gaming cafes. Duterte who won May’s Philippine’s election promising his electorate an ultra-hardline stance on corruption, told cabinet ministers that ‘online gambling must be stopped’. The President nicknamed …

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Third LBO racing channel set to shake-up UK betting shops

SBC News Third LBO racing channel set to shake-up UK betting shops

Betting shop operators in the UK are set to see another shake-up in how they present horseracing after the announcement that a third horseracing channel for LBOs is to be launched. The Racing Partnership (TRP) – a joint venture between Arena Racing (ARC) and seven independent racecourses comprising Fakenham, Ffos Las, Hexham, Newton Abbot, Plumpton, Ripon and Towcester – announced …

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UK gamers given a boost with launch of the British Esports Association

SBC News UK gamers given a boost with launch of the British Esports Association

Amidst the Brexit chaos and the how did we get beaten by a team led by a dentist uproar, the UK’s esports community at least was given a boost as the anticipated British Esports Association officially announced its formation yesterday. The organisation, a nonprofit for which Chester King has been named CEO, will operate out of Pinewood Studios in Buckinghamshire. It …

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ISACA re-elects Intralot’s Christos Dimitriadis as Board Chair

SBC News ISACA re-elects Intralot’s Christos Dimitriadis as Board Chair

Intralot Group has announced that Christos Dimitriadis, Group Director of Information Security, was re-elected for the second consecutive term as Chair of the Board of Directors for the Information Systems Audit and Control Association (ISACA). Dimitriadis has worked in information security for more than 16 years, and written more than 150 security-related publications. He has received multiple awards for his …

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