Tag Archives: LSE

Lord John Mendelsohn has stated that 888 Holdings will soon prove “the compelling and strategic logic” of its corporate enlargement, as detailed to investors in 2021. In his role as Executive Chairman, Mendelsohn addressed investors following the publication of 888’s H1 2023 interim results. Improved H1 trading saw 888 register a 3x jump in EBITDA to £155m. Yet, its business …

Rank Group Plc has been granted a 60-day extension by the First-tier Tribunal Tax Chamber (FTT) to resolve its settlement on incorrect gaming machine duties charged between 2005 and 2013 with HMRC.  The LSE gambling group is guaranteed a tax rebate as HMRC can no longer challenge its appeal previously rejected by an Upper Tribunal review – which serves as …

Rank Group Plc has confirmed the promotion of Eitan Boyd to the leadership position of Group Chief Innovation Officer (CIO). Boyd is the former Chief Executive of Stride Gaming, the multi-brand igaming operator acquired by Rank in 2019 for £120 million. The promotion was disclosed by Rank governance updating investors on the LSE group’s digital progress, in which Rank stated …

888 Holdings has cited confidence in achieving its 2021 growth objectives, as the company enters a crucial H2 trading period aware of numerous dynamics impacting its commercial performance. This morning, the LSE-listed online gambling group published a pre-close Q2 trading update, anticipating group revenues of $257 million – up 20% on 2020 corresponding results of $214 million. The revenue uplift …

The board of Sportech Plc has stated confidence that the LSE firm will deliver its full-year 2020 EBITDA results in line with corporate expectations. Issuing a pre-close 2020 trading statement, Sportech noted that despite enduring COVID-19 headwinds the company maintained its operational efficiencies across its core business verticals. Meeting unprecedented headwinds, Sportech focused 2020 trading on capital preservation and strengthening …

BetMakers Technology Group has this morning communicated that it has reached a ‘binding agreement’ with the board of Sportech Plc to acquire the company for AUS $56.2 (€34m) valuation, undertaken on a cash-free / debt-free basis. The ASX-listed technology group will acquire all Sportech US, European and UK assets and IPs, establishing the company as the leading global supplier of …

Reporting growth across all core metrics and strong progress on its year objectives, 888 Holdings has upgraded its full-year 2020 earnings to be ‘significantly ahead of its prior expectations’.  Publishing its 2020 interim results (period ending 30 June), 888 has recorded a 37% increase in group revenues to $379 million (H12019: $277m) which the company stated was largely driven by …

Ahead of today’s AGM, Sportech Plc has issued a trading update,  informing investors of further COVID-19 pandemic impacts and countermeasures undertaken by the LSE-listed wagering technology group.  Updating investors, Sportech explained that it has implemented its pandemic cost-saving measures announced during March trading, based on its forecast scenario that global sporting events would be curtailed through to the end of …

A new FTSE100 gambling giant was formed this morning, as Flutter Entertainment Plc confirmed the outright completion of its $11 billion merger with The Stars Group Inc (TSG).   Flutter has completed its six-month merger pursuit of TSG ‘on schedule’, securing all regulatory (Australia, UK and US) and shareholder approvals during the first half of 2020 trading.  Updating its timetable, the …