Tag Archives: australia

Flutter moves to refine merger benefits against 2020 trading realities

Flutter Entertainment Plc has accelerated all corporate directives related to its merger integration with The Stars Group Inc (TSG), but conceded that its 2020 outlook remains ‘highly uncertain’ dependent on further COVID-19 outcomes and regulatory changes across various markets.  This story featured in today’s SBC News 90. To view the latest round-up, watch today’s edition here. Publishing its 2020 interim …

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Tabcorp double burdened by covid and group impairment charges

Tabcorp Holdings has declared annual statutory operating losses of AUS $870m (€520m), as group performance was anchored by a combination of asset impairment charges and COVID-19 impacts recorded across its retail wagering portfolio.  Publishing its 2019/2020 financial results, the ASX-listed gambling group recorded a 5% decline in group revenues, falling to AUS $5.22bn (FY2018/19: $5.44bn), with the company absorbing double-digit …

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IBIA: Australia has made no progress on safeguarding sports integrity  

The International Betting Integrity Association (IBIA) has urged the government of Australia to withdraw in-play betting restrictions as a means to further protect its regulated sports betting market and consumers from black-market threats.  The IBIA made its statement as part of its response to an open consultation on the Australian Sports Wagering Scheme (ASWS) – Australia’s integrity framework protecting sports …

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Stats Perform extends NBL data and streaming deal

Stats Perform - Kings Casper Ware in action during Game 3 of the NBL Finals match between Sydney Kings and Perth Wildcats at Qudos Bank Arena in Sydney, Sunday, March 15, 2020. (AAP Image/Mick Tsikas) NO ARCHIVING, EDITORIAL USE ONLY ** STRICTLY EDITORIAL USE ONLY, NO COMMERCIAL USE, NO BOOKS **

Stats Perform has extended its multi-year, exclusive official betting data and streaming partnership with Australia’s fast growing Hungry Jack’s National Basketball League (NBL).  The extension will see Stats Perform provide exclusive live streams for betting, as well as collect and distribute in-stadium ultrafast betting data for licensed sportsbooks. Alex Rice, Stats Perform Chief Rights Officer, commented: “Few global basketball leagues …

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Melbourne spike sees Tabcorp close TAB Victoria betting shops

Tabcorp Holdings has been forced to close a significant number of TAB betting shops and agents across Victoria, after State Premier Daniel Andrews enforced a further coronavirus lockdown. On Monday, following a spike of more than 200 new cases in the district area of Melbourne, the Victoria government issued a border closure between Victoria and New South Wales – Australia’s …

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Victoria Police charges two following tennis corruption investigation

Victoria Police has confirmed that two individuals have been charged with attempting to corrupt at least two tennis tournaments in Brazil and Egypt in 2018, after they were found to be a part of an international tennis match-fixing syndicate. Reported by the Sydney Morning Herald, the India-headquartered syndicate is allegedly responsible for using low-ranked players from Europe and South America …

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Tabcorp secures debt interest amnesty for 2020  

Tabcorp Holdings has reached an agreement with its US debt holders which will allow the ASX gambling group to defer payments on its debt covenants.  Last month, Tabcorp communicated that it had entered negotiations with US debt holders to obtain new ‘covenant terms’ on its corporate debt tranche of AUS $2.1 billion, maximising financial flexibility as it looks to navigate …

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Tabcorp cancels 2020 dividend as part of new debt arrangement

Tabcorp Holdings has informed investors that the company will sanction no dividend in relation to financial-year 2020 trading. The firm has been forced to terminate the 2020 dividend (fiscal year ending 30 June) as part of its agreed terms with bank lenders, allowing the ASX betting group to waiver approximately AUS $2.2 billion (€1.3bn) of debt covenants until 2021.  Updating …

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Diversified Stars Group rides out first wave of COVID-19 headwinds 

Mirroring merger partner Flutter Entertainment, this morning The Stars Group Inc (TSG) has issued a trading update detailing that Q1 2020 revenue performance has been maintained despite facing COVID-19 disruptions. TSG has predicted that it will generate circa $735 million in group revenues for Q1 2020 trading, reflecting a 27% increase on Q1 2019’s $580 million. The TSX Group cited …

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International profile buoys Flutter during troubled times

The continuation of racing across Australia and the US has come as a welcome relief for Flutter Entertainment, as its retail estate faces a blow from the postponement of global sporting events. Publishing a Q1 trading update for the three months ended 31 March 2020, Flutter reported group-wide year-on-year revenue growth of 16% in Q1, reported at £547 million for …

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