Retail

NYSE-listed games machine manufacturer and distributor PlayAGS has disclosed to markets that it has become an M&A target of gaming technology firm Inspired Entertainment Inc, according to a report from Reuters. This weekend, PlayAGS confirmed to US media that Inspired Entertainment had submitted a $10 per share cash offer to acquire the business at a proposed valuation of $370m. Inspired has …

Two establishments that are an almost universal feature across Britain’s high-streets and town centres are pubs and betting shops, both popular with millions of customers.  One thing that both the betting and pub/alcohol industries have in common, as argued by Ian Austin, Lord of Dudley in Politics Home this morning, is that they provide many people with a sense of …

Light & Wonder Inc has cited confidence in achieving its long-term financial objectives as the Nasdaq technology group continues to benefit from its ongoing corporate transformation.    Publishing its Q2 trading results, Light & Wonder (formerly Scientific Games Corporation) generated $610m from ‘continued business units’ – up 5% on corresponding 2021 results of $580m. Q2 trading saw Light & Wonder complete …

The British betting and gaming industry’s post-pandemic recovery is on track according to recent UK Gambling Commission (UKGC) figures.  Published on the regulator’s website, the data revealed total online GGY during the first quarter of the financial year (April-June 2022), rose by 1% from Q4 to £1.2bn. The number of active accounts, meanwhile, rose by 5%, as did the number …

The Bulgarian government is moving ahead with a reform of public sector bodies, including the Bulgarian Sports Totalisator (BST), the state-owned betting and lottery company that operates the Toto BG brand.  The proposed plans will involve the privatisation of six key state-owned properties including BST in the New Year, despite reports from the country suggesting the lottery’s commercialisation will encounter …

Flutter Entertainment Plc has this morning announced that it has completed its acquisition of Italian gambling group Sisal SPA for €1.9 bn (£1.6/$2.2bn).  On 23 December 2021, Flutter declared to markets that it had secured definitive terms with US PE fund CVC Capital Partners to acquire all assets (lottery, online and retail) of the heritage Italian gambling group. The acquisition …

The Independent Betting Adjudication Service (IBAS) has set out its case for becoming a potential UK Gambling Ombudsman, detailing operational and financial considerations.  Recognising the creation of a Gambling Ombudsman as a potential outcome of the Gambling Act review White Paper, the group asserted that it could take on the role ‘faster than any entirely new service could be created’ due …

IGT Plc remains confident of achieving its 2022 financial objectives, but has ‘tightened its full-year revenue outlook’ to reflect currency fluctuations and the impact of its ongoing business transformation.  Publishing its consolidated Q2 2022 results, IGT registered a 2% decline in period corporate revenues to $1.02bn.   The weakened headline performance was attributed to an 11% sales decline of IGT’s Global …

An enlarged Lottomatica Group, formed by the merger of Lottomatica Scommese and GoldBet Italia, has declared a stellar H1 trading period.  Having emerged as Italy’s largest betting group, Lottomatica reported a quadrupling of group revenues from 2021 results of €178m to €800m recorded during H1 2022. The 4X growth in headline revenues was attributed to the group’s enlarged retail portfolio …

The death of James ‘Jimmy’ Thomas, President and Co-Founder of The Hippodrome Casino, London, has been announced. After a short illness, Jimmy died in his sleep on the morning of Saturday, 30 July at the London Clinic with members of his family present. He was 88. He leaves a son and two daughters, Simon, Lisa and Carla, from his marriage …