Rank fined £500K over protection failures

Posted On Aug 24 2021 by

first_img Regions: UK & Ireland Grosvenor customer lost £1m during a 24-hour period Topics: Casino & games Finance Legal & compliance Strategy 10th October 2018 | By contenteditor Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Rank Group has been fined £500,000 (€572,500/$657,400) by the UK Gambling Commission for breaching problem gambling rules, after a customer lost £1m in a single 24-hour period. The customer in question gambled “substantial amounts” at Rank’s land-based Grosvenor Casino and online via Grosvenorcasinos.com after £1m was credited to his account. A Commission investigation found that Rank failed to interact with the customer who was displaying problematic behaviour. The company was also found to have contacted the customer during a period of self-exclusion and failed to adhere to Commission rules regarding the provision of credit. Richard Watson, executive director at the Commission, said: “We expect all operators to protect any consumer who maybe experiencing problems with their gambling, and operators shouldn’t fall into the trap of thinking that VIP customers don’t experience difficulties. “No matter how wealthy customers are, operators still need to monitor them effectively to ensure they aren’t showing signs of problem gambling. It is certainly not appropriate to visit customers during a period when they are self-excluded.” However, Watson did praise the immediate response from Rank, saying it took “positive action” over the incident. As a result, the Commission issued a lower fine. Watson said: “This penalty package would have been a lot higher were it not for the positive action Rank took in terms of self-reporting their failures and being open and transparent during our investigation.” The fine will come as a further blow to Rank, which in August announced an 8% year-on-year drop in operating profit to £20.9m in 2017. Revenue growth also lost momentum, climbing 9.9% compared to 15% in the previous year. The Gambling Commission has pledged to tackle problem gambling as part of a wider effort to improve standards across the sector. The regulator has called on the industry to “step up” and support the body with this drive. Rank fined £500K over protection failures Tags: Online Gambling Casino & games Email Addresslast_img read more


RP iGaming Index: Ice floes ahead

Posted On Aug 24 2021 by

first_imgFinance Tags: Online Gambling RP iGaming Index: Ice floes ahead A tough September only saw gains for four Index components. Regulus Partners’ Paul Leyland analyses current and future drivers and 888’s performance Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img 8th October 2018 | By Stephen Carter Topics: Finance A tough September for igaming-exposed stocks saw only four companies make gains. Regulus Partners’ Paul Leyland looks at the underlying drivers and more closely at 888’s performance during the periodThe hype-correction pattern of the spring and summer continued through September, with gambling stocks mostly under pressure during the period, albeit against a backdrop of a relatively volatile market.Overall, the index fell by 10.8%, bringing the cumulative decline since inception to 13%, US hype notwithstanding (see Chart 1 below).During the month only four stocks recorded gains, while 28 stocks fell. Within that, only two stocks reported double digit gains: Kambi (+18%) and Nektan (+19%, albeit tiny). Fully 14 stocks (or nearly half the index) reported double-digit declines in the one-month period (for a full list of the 35 Index components see last month’s edition).Q3 has therefore been a tough period for online gambling exposed stocks, continuing a trend emerging at the end of Q2 (see Chart 2).We discussed what we believed to be the underlying drivers of this in the last edition, but they are worth summarising here. First, the usual market problem (especially in gambling) of reality failing to meet the hype – and there was a lot of hype in May.Second, lower macro growth than has hitherto been almost effortlessly delivered, especially in mature markets, is starting to make itself felt in quarterly results.Third, regulatory pressures are ever present, with a balance of short-term negativity offsetting longer term hopes during the period (especially for 888 – see below).Finally, our thesis that listed stocks, for the most part, are not as well equipped to capitalise on growth than some of their private peers (NB, this is emphatically not a result of being listed, in our view, more due to when and how most listed stocks gained critical mass around half a generation ago).We believe that all of these issues remain present in September’s performance. However, markets tend to look ‘short term forward’ unless there is a massive macro trend to play (such as electric cars or online retailing, which is not so obvious – or liquid – in the fragmented world of gambling).Here we would flag a potential iceberg (or more accurately ice drift) which the market may be (slowly) cottoning onto: the double whammy of Q4 betting comps and Sweden ‘re-regulating’ in Q119.Everybody knows (or should do) that sports betting is a volatile business, and some of the revenue ups are as undeserved from an underlying trading perspective as the downs.However, this does not stop companies crowing over good fortune and playing up their operational prowess while also seeking to downplay the bad. This is human nature, but the result is often dangerously misleading.Q417 provided the strongest set of European online sports betting margins in living memory (certainly for a full period), and did so against particularly weak comps.The result was a truly exceptional end to the year for exposed companies from an both absolute result and YoY growth perspective. However, it also masked an underlying slowdown which appeared to start in Q216 (in more mature markets at least, according to our analysis).Q118 therefore had an excuse for underperformance: the consumer ‘hangover’. Q2 and Q3 had the World Cup. So what will Q4 have? In short, horrible comps set against a mature market macro slowdown, which will also mark year end for most companies.So if investors have been disappointed by what has been achieved so far, then this could be substantially magnified in the coming months.For context, 11 of the 35 stocks have material exposure to the Q4 sports betting comps issue, or 31% by number of stocks. Although on a market cap-adjusted basis, this is 62% of the index – a big weighting that could mean a big swing (see Chart 2 below)Tellingly this mix was a 70% weighting at the beginning of the index period, suggesting some price movement targeted around sports betting already, although this could be more cooling US ardour and unexciting World Cup related than forward-looking so far.The second near-term issue that investors might start to think more clearly about is Swedish regulation from Q1 next year. Many stakeholders talk about ‘re-regulation’ (a term the author adopted as an analyst over a decade ago to downplay the even more misleading chatter about ‘deregulation’).The Swedish market might be being ‘re-regulated’ in that regulation is being replaced, but for all the exposed listed operators, they will be domestically regulated in what is often a core market for the first time. From a commercial perspective, that is not ‘re-regulation’. It is regulation, pure and simple.There has been some noise about ‘re-regulation’ growing the Swedish market, but we do not buy this at all due to the lack of any material impediments to current market growth in Sweden.There have been no significant advertising, product or payment restrictions which ‘re-regulation’ will (positively) address.Instead there will be a 19% GGR tax (roughly approximate to profit margins) and a greater degree of social responsibility scrutiny, possibly impacting both advertising and product. The regime will also allow two highly successful domestic monopolies to compete online more effectively.Sweden could therefore start the new year with revenue from listed operators being squeezed as well as profits being significantly impacted.From an index perspective, 10 stocks would see Sweden as a ‘core market’, or 33% of the index by number of constituents, 25% by weighted market cap. Again, a potentially material emerging issue to be added to wider pressures, in our view.Stock in focus: 888 Perhaps the most dramatic stock during the period was 888, which reported H1 results on 27 September. Despite an attempted focus on reported revenue (flattered by US dollar weakness), constant currency results for the group were poor, with revenue declining (investors tend to look through window dressing very quickly).The eye-catching reason was the UK, where regulatory-led changes resulted in (worse than feared) double-digit declines in revenue, although performance in other markets also lagged market growth, according to our estimates and analysis.In more general terms, we believe 888 encapsulates a number of issues facing the listed online sector. First, it was built for a dot.com desktop world which is now fast disappearing both from a regulatory and consumer-technology perspective, especially in key mature markets.Second, it was excellent at servicing high-spending customers, which are under pressure in some jurisdictions from a regulatory perspective and, as early adopters, are not the growth engine they once were (mass market requirements are very different, in our view).Third, exposure to substantially all (Western) markets means that regulation happens to existing revenue streams far more often than regulation opening an opportunity.Finally, in trying to see strategic value on a sensible basis, we see 888 in danger of being left behind in the US by more opportunistic/optimistic/aggressive peers, despite being the only online-specific operator present in all three live online states at the beginning of the post PASPA hype.888 provides one more useful lesson in this period – a 16% fall on the day of the results might have been the most eye-catching move within the index during September, but its performance over the month was far less unusual that that big swing might suggest.Six stocks actually had a worse September performance than 888, just in less eye-catching gaps.Underperforming 888’s 16% September fall (essentially all in one day) were: Stars (-18%), Scientific Games (-18%), GVC (-17%), GiG (-19%) and Gaming Realms (-27%). Sometimes the market can get over a correction more easily than a slide.Disclaimer The narrative provided represents the opinions of the authors. Any assessment of trends or change is necessarily subjective. The information and opinions provided are not intended to provide legal, accounting, investment or policy advice, nor should they be used as a forecast. Regulus Partners may act, or has acted, for any of the companies and other stakeholders mentioned in this report. Email Addresslast_img read more


The ball keeps rolling

Posted On Aug 24 2021 by

first_img Secondary lotteries have been hit by a number of setbacks recently, but with opportunities opening up in the German market, talk of decline is somewhat wide of the mark. Joanne Christie reports. Regions: Europe Oceania Central and Eastern Europe Germany Australia The ball keeps rolling Topics: Legal & compliance Lottery Social responsibility Sports betting CSR Tags: Charitable Gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 22nd March 2019 | By contenteditor Secondary lotteries have been hit by a number of setbacks recently, but with opportunities opening up in the German market, talk of decline is somewhat wide of the mark. Joanne Christie reports.The recent news that Zeal Network was returning its Tipp24 business to its brokerage roots as part of its takeover of former subsidiary Lotto24, as well as moving its headquarters to Germany, set tongues wagging across the industry.With one of the two main players in lottery betting seemingly taking a big step away from the model after a rough few years in which monopoly providers have waged war – and won in some cases – on their private competitors, some wondered if this was a sign that the betting model now had a limited lifespan.The past year has brought major blows for lottery betting firms, with the UK banning bets on EuroMillions last year, Australia banning all lottery bets and a storm brewing in Ireland that many think will end in the same result.Given that Lottoland threw its hat into the ring and launched a counteroffer for Lotto24, one could have been forgiven for wondering if the betting model was on its last legs.There’s certainly no sign that monopoly operators are coming around to competition in the marketplace. For its part, European Lotteries (EL), the association that represents European lottery monopolies across Europe, says it remains committed to driving betting operators out of the market.“Unfortunately, secondary lotteries – or parasite lotteries as they are often referred to – are still out there organising betting activities on the outcomes of the legitimate individual and collective lottery games,” says EL secretary general Arjan van’t Veer.“It seems that this issue is getting more and more attention from the regulators and policymakers, and EL would like to encourage them to put a stop to it. EL welcomed the ban on UK consumers betting on EuroMillions lottery draws introduced in April last year.”On the other hand, there were a number of signs that pointed to the Zeal shift being specific to the company and the German market rather than betting more generally. After all, Germany has been one of the more protectionist nations when it comes to online gambling generally. Late last year, a German court ruled that an unnamed Gibraltarlicensed lottery betting firm was operating illegally, signalling that a wider clampdown may have been ahead.Opportunity knocks in Germany Given the huge size of the market in the country, Zeal perhaps decided it wanted a piece of the pie however it could get it. “There’s a massive opportunity for brokerage in Germany. Firstly, brokerage is locally licensed, which opens up a whole range of new marketing and growth channels for us,” says Matt Drage, head of communications at Zeal.“Secondly, online penetration in the German lottery market is exceptionally low – around 10% – so there’s a lot of potential. As a comparison, in the UK it is 26% and in Sweden it’s 41%.” Lottoland is also willing to switch up its business model to get in on the act in Germany, says CEO Nigel Birrell.“We believe there is a strong and fast increasing demand for betting on lotteries in Germany and worldwide.“One of Lottoland’s objectives is to be awarded a German licence in the mid to long term. As announced previously, we are also prepared to make changes in our German product offering to achieve this. For example, we would be willing to become an official reseller of the German state lotteries if we were permitted to continue to offer bets on foreign lotteries.”According to Birrell, Zeal’s move to brokerage is “only a result of the fact that the Gunther Group has major shareholdings in both companies – Lotto24 and Zeal”.Others speculate that Zeal’s move was due to internal politics. “They have had a lot of chaos. I think there is a lot of internal conflict there personally,” says Mark Knighton, who in January took up the post of head of operations at Multilotto. “I don’t know who is pulling and pushing within that organisation. Whoever shouts loudest gets what they want.”Betting here to stay Knighton, who previously worked for Svenska Spel in Sweden, says while Zeal may be moving away from lottery betting, he is convinced the model has a bright future. “I wouldn’t be here if it didn’t. I have taken my time before coming here to look at the industry, to look at the company, to see what their plans are and it is very attractive.“Even though the industry has had some knockbacks from the Australian regulation and the marketing restrictions that are coming into play, it makes you just look for new opportunities, from acquisition to marketing. I think with Multilotto we’ve got a very good strategic plan for this year and I think a very good future.”Sweden is one example of a new opportunity. Although back in 2017 it looked like lottery betting firms would be excluded from the regulated Swedish market, this did not turn out to be the case and a number of operators, including Multilotto and Lottoland, have obtained licences in Sweden.Admittedly, even Zeal says it still believes there are prospects in lottery betting. “The environment has become a bit more challenging in places but we still see opportunities out there,” says Drage. “The global lottery sector is worth nearly €300bn per year. There is lots of opportunity.We intend to keep growing our other international brands and start-ups,including myLotto24, and also explore new opportunities.”Of course, this kind of optimism is what one would expect companies operating in the space to put out; after all, they are hardly likely to say their very existence is under threat. There are, however, signs that they aren’t alone in their thinking.Birrell points to the fact that more than 10 new lottery betting companies have emerged in the last few years as a signal of the vertical’s health. Indeed, even companies that have previously dismissed the idea of lottery betting are now entering the fray.Lottery messenger service theLotter, for example, has previously publicly expressed concerns about the insurance-backed betting model. However, the company is now launching a betting option in Sweden, says spokesperson Remco Yizhak-Cooremans.“While we still maintain that the lottery messenger model is the preferred option (both for operators and customers), we will do our utmost to comply with rules in that handful of countries where a messenger service is undesirable to the authorities,” says Yizhak-Cooremans. “An example being Sweden, where we will have to hedge. Once we are a licensee, which will happen soon, we will be operating in that country on a bet-on basis.”Another sign that points towards lottery betting being here to stay is the increasing number of B2B deals being signed in the space. Knighton says Multilotto is actively “pushing forward on growing that side of the business as well” and adds that a number of operators are white-labelling its products, Betsson and Bethard among them.Lottoland has more than a dozen partners already – with the most recent launches being FSB Tech and Hero Gaming – and Birrell says more are on the way.Safety for soft options? One reason operators may be keen to partner with lottery providers is the opportunity to acquire new types of players, and at a lower cost. Almira Mohamed, director at online syndicate provider Lotto Social, says it has been approached by a number of firms for this reason. “We do have gaming companies who love us. We could potentially be a route to a lower acquisition cost of people coming through the door and then you upsell them to other types of gaming, which is what other people’s models are, but we’ve never wanted to go down that road.”As well as wanting to stay firmly on the softer side of gambling, she says Lotto Social has also made a business decision to try and remain “friends of the state lottery”.The company organises syndicates via a provider that purchases official lottery tickets and therefore argues it is simply making things easier for those wanting to find cheaper options to play.“They know about us, and syndicates are stated by the Gambling Commission as legally allowed. So we are still promoting all the stuff that the National Lottery does and all the good causes that they have. It’s just that we are saying, ‘Hey, you can play anywhere you want’. “If people already play in syndicates it is actually quite archaic the way they have to play. The whole lottery syndicate agreement is also a massive issue.”She says she does not foresee any issues from regulators or monopolies. “I think they’ve got much bigger fish to fry with betting, especially when Lottoland was taking up such a big share of the market and nothing was coming back to the reason why they originally did it, which was the good causes.”Whether or not this view turns out to be naive as the company expands into other regions remains to be seen.TheLotter, for example, has perhaps always seen itself as outside of the firing line, given it purchases official lottery tickets and therefore could not be accused of taking money away from monopoly providers.However, it has suffered some big setbacks in the US recently, being forced to end a lucrative official partnership with the Oregon Lottery at the end of last year after the Mega Millions Group stepped in and said it violated the consortium’s rules. A Florida senator has also recently introduced a bill that would ban theLotter’s activities after one of its customers, a woman from Panama, won a $30m jackpot in the state.It is perhaps true that any type of lottery model that is not a monopoly is at risk of a sudden clampdown, which is likely the reason why more and more private lottery providers are expanding their markets and models to protect themselves against any one crackdown having a big impact on their business.Whereas once many alternative lottery providers were operating under only one type of model, more are now running a mix of betting, messenger and syndicate services in a bid to keep their options open. Zeal, for example, describes itself as “business-model neutral”. According to Drage it has a “number of different models across the group – from digital lottery services, lottery venture capital, lottery betting and charity lottery operation”.The right approach Knighton adds that there’s also an element of common sense involved in one’s market approach. “One of the tricks is to not market the existing country’s lotteries – it’s an irresponsible approach to the market.“Personally I think it is ridiculous as an operator that you would do that. I remember when I was back at Svenska Spel there was an irritation about it. We have made a conscious decision that we won’t market national lotteries to those players that are in that jurisdiction. In Sweden, for instance, Swedish players can’t play Svenska Spel.”Indeed, one of the criticisms about Lottoland’s entrance to Australia was that it offered bets on local lotteries and therefore attracted the ire of the nation’s newsagents, a group it enraged further by releasing a series of advertising campaigns that newsagents considered offensive.By contrast, when myLotto24 decided to enter the Australian market, it instead secured the support of one of the state’s newsagent representative bodies.Unfortunately, by the time it launched it was too late as the campaign against Lottoland was too big to be stopped. A ban on all lottery betting was passed the following month and came into effect at the start of this year.With many of the large private lottery firms now part of the European Lottery Betting Association, there are hopes that a repeat of the Australian situation can be avoided. Whether or not this turns out to be the case remains to be seen, but it seems that the industry is nowhere near ready to give up on the lottery betting model just yet. CSR Email Address Subscribe to the iGaming newsletterlast_img read more


GambleAware falls short of industry donation target

Posted On Aug 24 2021 by

first_img GambleAware falls short of industry donation target Topics: Casino & games Finance Sports betting Strategy Bingo Slots Horse racing GambleAware has reiterated calls for UK operators to offer further financial support its problem gambling efforts after revealing that industry funding failed to meet its 2018-19 target. Bingo Regions: UK & Ireland Tags: Online Gambling OTB and Betting Shops Race Track and Racino Slot Machines AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 8th May 2019 | By contenteditor GambleAware has reiterated calls for UK operators to offer further financial support its problem gambling efforts after revealing that industry funding failed to meet its 2018-19 target.Voluntary donations from the industry during the 12 months to March 31, 2019 amounted to £9.6m (€11.1m/$12.5m), which, although marginally up on the previous year, is short of the £10m that trustees of the problem gambling charity had asked of the market.GVC Holdings topped the list of contributors with total donations of £1.46m, with William Hill ranking second on £1m and then Bet365 with £868,000.Other major donators include Paddy Power Betfair with a total contribution of £445,000, as well as Camelot UK Lotteries, operator of the UK National Lottery, with £390,000.These voluntary donations also include additional donations in the form of unclaimed winnings, dormant accounts and other funds.GambleAware also receives funds from regulatory settlements, as administered and managed by the UK Gambling Commission. For 2018-19, a total of £7.3m was donated to the charity.At present, GambleAware works with the NHS and various other organisations such as Citizens Advice to help direct people with gambling problems to the right intervention.However, in order to continue this work over the next 12 months, GambleAware has said will require a minimum of £10m in voluntary industry donations.The charity has also warned that this figure is likely to increase in the following year in order for it to operate in line with the goals set out in the Gambling Commission’s new National Strategy to Reduce Gambling Harms.GambleAware worked with the Commission in developing the new strategy and while its CEO Mark Etches praised the regulator for its efforts, he said more needed to be done to tackle problem gambling.Image: Graeme Anderson Subscribe to the iGaming newsletter Email Addresslast_img read more


GVC ups profit guidance as online revenue hits $1bn in H1

Posted On Aug 24 2021 by

first_img Subscribe to the iGaming newsletter GVC ups profit guidance as online revenue hits $1bn in H1 Tags: Card Rooms and Poker Mobile Online Gambling OTB and Betting Shops Email Address GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm. Finance GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm.Net gaming revenue (NGR) for the six months to 30 June was £1.81bn (€1.96bn$2.19bn). This represents a 5% year-on-year rise if Ladbrokes Coral’s pre-acquisition figures were included, and 61% if its results were factored in from the date the acquisition closed on 28 March, 2018.Revenue, after Value Added Tax and the Australian Goods and Services Tax of £28.5, was £1.78bn, again a 5% pro forma improvement on the prior year.This was driven by the strong performance of GVC’s online business, which saw revenue rise to £1.02bn in the first half. Gaming NGR accounted for the majority (£574.6m) of the total, up 17% year-on-year, with sports revenue rising to £462.3m. This offset a 32% year-on-year decline in B2B revenue.Despite the prior half year period including the Fifa World Cup, the acquisitions of Georgia’s Crystalbet, in April 2018, and Australia’s Neds, in November 2018, offset these tough comparables, though GVC noted that this did slow sports growth.The online division reported growth across a number of key markets, including the UK, where NGR was up 13% from the prior year. This was aided by efforts to reinvigorate the Ladbrokes brand, deploying enhanced real-time CRM and improved gaming cross-sell techniques.Australia also performed well, with revenue up 28% on a pro forma, constant currency basis. GVC said that a disciplined marketing and bouncing strategy had helped offset the introduction of point of consumption taxes, with the business continuing to turn a profit.Italy, meanwhile, saw revenue grow 15% on a constant currency basis, which the operator said had ensured strong momentum in the run up to the introduction of new advertising restrictions.However the online division faces potential headwinds in Germany, where it reported 23% NGR growth in H1, aided by football-centric marketing campaigns to re-establish bwin as the market’s leading betting and gaming brand. While GVC remains bullish about the prospects for favourable regulatory conditions, analysts have suggested operators face significant restrictions on their operations under the State Treaty on Gambling.It also claims to be established as Brazil’s leading igaming brand, with NGR up 52% on a constant currency basis. This too may fall foul of incoming regulations, with the country’s government currently developing a framework for sportsbook-only regulations.Looking at the UK retail business, GVC reported revenue of £586.8m, down 12% on a pro forma basis. Sports betting revenue was down marginally at £275.0m, while machine revenue fell 20% year-on-year to £311.8m.Despite this, the operator said following the cut in maximum B2 stakes to £2 from 1 April, the retail performance had been stronger than expected. It said customers had shifted from gaming machines to over the counter and self-service betting terminals.The stake cut is still expected to lead to a £137.5m decline in UK retail revenue over 2019, however, reducing to £120.0m per year within two years. Over the next two years up to 900 shops are expected to close, with the size of the retail estate falling 8.1% to 3,274 shops by 30 June. 203 shops were closed over the six month period, of which 157 were a direct result of the machine stake cut.The European retail business continued to grow strongly, albeit from a lower base. Revenue was up 7% year-on-year at £144.1m, aided by growth in virtual sports in Italy and Belgium, as well as strong football staking in Italy. Other revenue, including the InterTrader spread betting and Contracts for Difference business, was up 46% year-on-year at £35.9m.However costs associated with the acquisition and integration of the Ladbrokes Coral business resulted in GVC’s robust revenue failing to filter down to bottom line growth. Cost of sales for the period rose to £598.0m, which saw gross profit rise 2% on a pro forma basis to £1.18bn.Earnings before interest, tax, depreciation and amortisation was up 5%, at £376.8m.Administrative costs rose significantly, to £922.7m, and one a £1.1m loss from joint ventures was factored in, operating profit was down 6% at £260.3m. Net finance costs rose significantly, from £26.5m in H1 2018 to £48.2m, and separately disclosed items of £224.4m wiped out much the operator’s profit for the period.This included £184.3m in charges related to the amortisation of acquired intangibles, as well as £20.0m in integration costs and £2.9m related to the B2 machine stake cut, namely redundancies. This saw GVC post pre-tax loss of £12.3m – compared to a £113.6m profit in the prior year – though a £14.4m tax benefit saw net profit for the period amount to £2.1m, down 98% year-on-year.Since the end of the reporting period, GVC said trading between 1 July and 11 August saw strong trading momentum continue, with growth in online and European retail revenue. The only performance, it said, would mitigate any potential additional costs associated with new German sports betting licences.Considering this strong performance, and with UK retail performing ahead of expectations, it now expects full-year EBITDA to fall within the £650m-£670m range. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe LATAM Oceania UK & Ireland Central and Eastern Europe Southern Europe Western Europe Germany Italy Belgium Brazil Australia Topics: Casino & games Finance Legal & compliance Sports betting Strategy Poker H1 results 2020 15th August 2019 | By contenteditorlast_img read more


Ladbrokes Coral names BBH London as new creative agency

Posted On Aug 24 2021 by

first_img Ladbrokes Coral names BBH London as new creative agency Regions: UK & Ireland GVC Holdings-owned Ladbrokes Coral has appointed Bartle Bogle Hegarty (BBH) London as its new creative agency for the UK and Ireland. BBH also currently works with GVC’s bwin brand. Tags: Online Gambling OTB and Betting Shops 4th October 2019 | By contenteditor GVC Holdings-owned Ladbrokes Coral has appointed Bartle Bogle Hegarty (BBH) London as its new creative agency for the UK and Ireland.BBH, which also currently supports GVC’s bwin business, will work across brand and content marketing as part of the new agreement.The agency will develop a three-year creative framework and disruptive brand-led campaign covering both the Ladbrokes and Coral brands.“We are delighted to be working with an agency of BBH’s quality and pedigree,” GVC’s managing director for UK sports brands, Dominic Grounsell, said. “We look forward to partnering with them on the next phase of our creative journey.”Karen Martin, managing director of BBH London, added: “This is a brilliant win for BBH. The team at Ladbrokes Coral have real creative ambition and we’re looking forward to bringing that to life. We can’t wait to get started.”BBH London secured the Ladbrokes Coral contract following a competitive pitch run by Oystercatchers.Ladbrokes previously worked with the BBH agency prior to its merger with Coral and subsequent acquisition by GVC. Topics: Marketing & affiliates Strategy Marketing & affiliates AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Addresslast_img read more


Sports betting live in New Hampshire

Posted On Aug 24 2021 by

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Mobile Legal & compliance 2nd January 2020 | By contenteditor Sports betting live in New Hampshire Topics: Legal & compliance Sports betting Sports betting is now live in New Hampshire with patrons able to bet both online and at retail locations.The New Hampshire Lottery and partner DraftKings officially launched mobile and online sports betting in the state on 30 December.Governor Chris Sununu placed the state’s ceremonial first legal sports wager on the New England Patriots to win the Super Bowl at a licensed restaurant alongside DraftKings co-founder and chief revenue officer, Matt Kalish, and former NFL star Rob Ninkovich.DraftKings’ contract with the New Hampshire Lottery was approved in late November 2019 by the state’s Executive Council after being selected through a bidding process. As part of the agreement, New Hampshire will receive 50% of sports betting revenue, which will support the New Hampshire Lottery’s mission to drive funds in support of education in the state.Read more on iGB North America. Regions: US New Hampshire Sports betting is now live in New Hampshire with patrons able to bet both online and at retail locations. Subscribe to the iGaming newsletter Email Addresslast_img read more


GBGB sets out plans for greyhound racing’s return

Posted On Aug 24 2021 by

first_img GBGB sets out plans for greyhound racing’s return Sports betting Subscribe to the iGaming newsletter Topics: Sports betting Strategy Regions: UK & Ireland Email Addresscenter_img The Greyhound Board of Great Britain (GBGB) has released provisional plans to resume greyhound racing behind closed doors when the current government restrictions for novel coronavirus (Covid-19) are relaxed.The new operational policy sets out a proposed five phases, each of which would last at least two weeks and be subject to strict controls, all while keeping in line with the latest government-ordered measures.Greyhound racing in Britain has been suspended since March 24, after the GBGB initially moved all races behind closed doors prior to a nationwide lockdown coming into effect.Phase one would see trial meetings take place behind closed doors, while phase two would allow for racing to resume and closed venues, with a maximum of 10 races per meeting and a minimum of 30 minutes between each race.For phase three, the GBGB proposed that racing continue behind closed doors, but with 12 races at each meeting and a 25-minute gap between the races. Phase four would build on this, with racing taking placed behind closed doors, but with no limit the number of races and only a 20-minute break between races.Phase five would see racing return to normal with people permitted to attend meetings, subject to government guidance on both social distancing and public gatherings.The GBGB said that the policy would be updated as appropriate in line with any future changes to the government’s advice and direction.“We all recognise that a rapid return to some form of racing is the right course of action – not only because of the financial impact on trainers and owners, but because of the physiological needs of greyhounds as canine athletes,” GBGB managing director Mark Bird said.“However, we have been vocal throughout that it would be irresponsible to seek to resume racing without taking the time to prepare fully and adopt all the appropriate health and safety protocols.“This operational policy therefore presents an effective means for phasing in a return to greyhound racing – prioritising in the first instance graded races to support the vast majority of greyhounds and with the minimum amount of movement between racecourses.“We are confident that the process we are proposing gives us the best chance of progressing quickly and safely through the phases to an eventual resumption of normal racing activity, albeit behind closed doors.”The proposed policy will now be put to the government’s Department for Digital, Culture, Media and Sport, as well as the Department for Environment, Food and Rural Affairs, for approval.Confirmation of GBGB’s plans comes after the British Horseracing Association released a provisional racing schedule ahead of the sport’s planned resumption, with the first action since the coronavirus enforced shut-down set to take place over the weekend of 23-24 May. 5th May 2020 | By contenteditor The Greyhound Board of Great Britain (GBGB) has released provisional plans to resume greyhound racing behind closed doors when the current government restrictions for novel coronavirus (Covid-19) are relaxed. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more


KSA launches compliance drive for slots in catering venues

Posted On Aug 24 2021 by

first_img Topics: Casino & games Legal & compliance Slots AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Slot Machines KSA launches compliance drive for slots in catering venues Dutch gambling regulator Kansspelautoriteit (KSA) has announced details of a new scheme to help municipalities across the country in ensure slot machines in catering facilities comply with regulations to protect minors. The KSA has drawn up a list of catering locations that may have incorrectly been awarded a permit to run slot machines, with local authorities in the country’s municipalities able to use this list to check for any venues in their area. If any are found on the list, the venues can be inspected to check whether they fulfill the conditions to hold a slot permit.Current Dutch regulations state that any venue hosting a slot machine must ensure the devices are only accessible to adult patrons. However, a series of spot checks carried out in 2018 on more than 70 locations approved to offer slot machines found that this was often not respected. Catering establishments such as snack bars often had machines accessible to any patron, with permits awarded on the basis of old in-store layouts that had been changed over time.“Our people found constructions that can hardly pass for the term separation; sometimes it was just a wooden wall,” KSA chairman René Jansen said. “This is an undesirable situation, as young people should not come into contact with games of chance,” he continued. “Their brains are still developing, which makes them extra vulnerable to gambling addiction when they are young, but this [early exposure] can also have consequences in later life.”The KSA said the issue of access to slots was particularly concerning currently, as gaming halls and Holland Casino’s venues remain closed as a result of the novel coronavirus (Covid-19) pandemic. Catering facilities, on the other hand, have been able to reopen from 1 June. The Dutch government has been critisied over its decision to keep casinos and gaming arcades closed until September, with such facilities having been shut since mid-March. Holland Casino and gambling industry trade association VAN Kansspelen said this was “irresponsible”, adding that it negatively impacts business and more than 8,000 people employed by the sector. Casino & games Dutch gambling regulator Kansspelautoriteit (KSA) has announced details of a new scheme to help municipalities across the country in ensure slot machines in catering facilities comply with regulations to protect minors. Subscribe to the iGaming newsletter Email Address 5th June 2020 | By contenteditor Regions: Europe Western Europe Netherlandslast_img read more


Football and MMA drive OR lottery betting growth in June

Posted On Aug 24 2021 by

first_img Regions: US Oregon Finance Tags: Mobile Online Gambling Topics: Finance Sports betting Email Address The Oregon Lottery’s SBTech-powered sportsbook app Score Board has seen revenue and handle growth continue into June, thanks again to the strong performance of football, mixed martial arts and table tennis. 3rd August 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Oregon Lottery’s SBTech-powered sportsbook app Score Board has seen revenue and handle growth continue into June, thanks again to the strong performance of football, mixed martial arts and table tennis.Total turnover for the offering was up 8.2% month-over-month to $7.9m (£6.0m/€6.7m), with table tennis once again the most popular sport. While table tennis failed to match its $3.8m handle from May, its June total of $2.8m of stakes was again the largest across all sports.Football, in a month when European leagues such as the English Premier League, Italy’s Serie A and Spain’s La Liga resumed, saw handle almost double month-on-month, rising 93.8% to $1.9m.Mixed martial arts (MMA), on the other hand, saw its handle remain flat compared to May, at $1.0m.After player winnings, revenue for the month came to $777,903, a 30.1% improvement on the prior month, and suggesting a margin of 9.82%. Football was the main source of revenue, accounting for $239,360 of the total, followed by MMA on $205,695. Table tennis, despite its higher handle, came in third with revenue of $178,579.Over the month 7,782 unique active players placed 258,565 bets, at an average value of $30.64, with 674 new registrations in June.Read the full story on iGB North America. Subscribe to the iGaming newsletter Football and MMA drive OR lottery betting growth in Junelast_img read more