Cherry AB is planning to sell its online gambling subsidiary, ComeOn Gaming, as part of a broader reorganisation of its gambling business. As reported by Reuters, the Swedish heritage gambling group has appointed Moelis and Jefferies to explore sale options for ComeOn. According to sources, Cherry AB seeks to sell ComeOn for €500 million, nearly doubling its return on the …
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Bet365 is to pay compensation to 23 Danish athletes for using their names and photos on social media without consent. Denmark’s maritime and commercial court ruled on Monday that the operator now owes DKK 4.7m (around £550,000), with one of these athletes being Manchester United’s Christian Eriksen. Reuters reported that the 31-year-old midfielder had his image used the most and …
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UEFA is due to launch an investigation into the ongoing partnership between footballer Zlatan Ibrahimovic and online betting operator BetHard. The European football governing party has announced that an Ethics and Disciplinary Inspector has been appointed to lead the investigation into the Swedish player, to assess whether his collaboration with BetHard violates codes of ethics. The AC Milan striker’s ‘alleged …
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UEFA is set to ratify plans to complete the 2019/2020 Champions League by hosting a ‘Final Eight’ tournament held over 12-days in Lisbon this August. Reuters International has reported that the proposal is UEFA’s preferred option for completing its flagship tournament, which will be voted on tomorrow by UEFA’s executive committee. European football’s governing body is reported to have ‘reached …
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It has been reported by Reuters that buyout group Centerbridge has teamed up with Deutsche Telekom to bid for German sports betting group Tipico. The owners of Tipico are being advised by Rothschild and JP Morgan and final bids are due at the end of next week. The founders are selling up having run and grown the company since its launch …
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Having returned €392 million (£285 million) to shareholders, Paddy Power’s new CEO Andy McCue has outlined his first strategic priorities since taking over from Patrick Kennedy on 2 January 2015. The positive start to McCue’s reign as CEO, sees Paddy Power hand shareholders €8 a share, on top of a 13% increase in full year dividends. The cash return to …
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Equity and investment firm CVC Capital Partners, are set to take a £390 million loan in order to finalise its £800 acquisition of Sky Bet enterprises from BskyB. Under the terms of purchase which were agreed on 4 December 2014, CVC Capital will pay BskyB £600 million in cash and a further £120 million in contingent payments. BskyB will retain …
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Global news resource Reuters has reported on the UK betting industry and its attempts to tackle problem gambling using an algorithm developed by Harvard scientists. The algorithm monitors win-loss responses, average stakes and betting frequency which bookmakers intend to use this to pinpoint risky behaviour. A similar system has been introduced by some state operators in Canada. At Harvard Medical …
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