South America

UK court allows Codere SA to secure debt under London policy

UK High Court Judge Guy Newey has granted Spanish distressed gambling operator Grupo Codere SA the right to secure its €1.2 billion (£850 million) debt restructure utilising London market policy. Following a preliminary hearing, Newey ruled that Codere’s debt restructure was viable under London jurisdiction, despite its previous bonds having been issued in New York and the operator having no …

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GVC Holdings records strong 2015 performance ahead of bwin.party merger

This morning London AIM listed betting operator GVC Holdings (GVC) issued a corporate trading update for its full year 2015 performance (period ending 31 December) Ahead of its merger with bwin.party Entertainment, GVC reported Net Gaming Revenues (NGR) of €247 million (£184 million) up 10.2% on FY 2014’ €224 million (£167 million). The operator further detailed that during 2015 it …

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Tom Seymour – Cricket offers superb branding opportunities for betting

Tom Seymour, Commercial Director at Durham County Cricket Club (CCC), aims to take SBC readers on a cricketing’ tour of discovery over this year, focusing on the biggest players, grounds and opportunities the sport has to offer. Durham County Cricket Club may be a new kid on the block within the national game, but in terms of winning trophies and …

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Brazil allows for gambling debate but national framework still faces long road

The Brazilian off and on approach to regulating gambling appears to be on again after a special review committee for the Brazilian Senate progressed the legislative agenda for a regulated national betting industry. The idea of regulating gambling in a country that banned bingo reletively recently in 2007 was mooted earlier this year as the government faced a fiscal crunch. …

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CIRSA continues strong 2015 momentum with Spain & Latin America expansions

Spanish gambling operator Grupo CIRSA has continued its strong 2015 momentum, reporting profits up 16% to €280 million for its year to date performance (period ending 30 September). The Barcelona based operator would record a 19.5% revenue uplift to £1.2 billion driven by sufficient expansion in its Latin American markets notably Costa Rica and Peru. To date, the operator maintained …

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Scott Longley – BRIC’s decay impacts regulatory debate

With the cash strapped governments of the once mighty BRIC nations, seeking to implement new economic policies to boost their dwindling funds. Scott Longley examines how the current BRIC downturn will impact betting’s regulatory debate and progress amongst emerging economies  _______________________ Like a worried bunch of Chicken Little’s, the economic commentaries have been busily scaring the world’s markets with the doleful …

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PMU enters Brazil venture with Jockey Club Brasileiro

French race track operator Pari Mutuel Urbain (PMU) has entered the South American racing market by announcing a joint venture with Jockey Club Brasileiro (JCB). The venture will bring to life new subsidiary PMU Brasil. PMU governance stated that its partnership with JCB, would aim to modernise Brazil track racing. PMU management systems will be utilised to operate wagering and monitoring …

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Brazil rethinks gambling agenda as recession looms

A month after stalling the progress of its review on regulated fixed-odds sports betting (Legislation – 671-2015), it appears that Brazilian lawmakers and congress are prepared to push for a nationwide gambling regulatory framework. Faced with the nation’s worst economic recession in 25 years, Brazil’s central bank last week forecasted that its economy will shrink by 2.5-2.7%. The cash strapped …

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FML Group takes on BetConstruct portfolio

Industry supplier BetConstruct has announced a new partner agreement in the Caribbean region. The FML Group was founded in 1999 and is one of the largest gaming companies in the Bahamas with operations also in the Turks & Caicos, Haiti, St. Maarten and Bermuda. BetConstruct has agreed to provide the FML Group with Sportsbook, Virtual Sports, Skill Games and Poker. …

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Brazil expects delays as Dilma stalls betting legislation

Brazilian President Dilma Rousseff has stalled the progress of Legislation 671-2015 for the provisions of regulated fixed odds sports betting, citing that law makers needed more time to review its framework and context. Presented to President Dilma for sanctioned sign off at the start of July, the legislation had been approved for progress by Brazil’s Senate. The legislation would look …

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