Gambling Clear News
Entain says it is working to resolve an HM Revenue & Customs (HMRC) investigation into its Turkish operations but warned it could face a “substantial” penalty over alleged misconduct by employees and third-party suppliers. In November 2019, the group’s Entain Holdings UK Limited subsidiary received a production order from HMRC to provide information relating to
Bally’s Corporation and Gaming & Leisure Properties (GLPI) have reached a binding agreement with the Oakland Athletics of Major League Baseball, to site their new ballpark on a portion of the operator’s Tropicana Las Vegas property. Bally’s Corporation highlighted the potential “transformational” impact of the $1.5bn baseball ballpark project on the company’s database as an
Social casino developer DoubleDown Interactive has announced the first sequential revenue increase in eight quarters in its Q1 financial report. DoubleDown framed the “solid” Q1 results as consequence of the company’s strong business model, highlighting that it often achieved adjusted EBITDA margins of more than 30% in addition to “significant” cash flow. Chief executive Keuk
Bragg Gaming Group has reported record revenue of €22.9m (£180.4m/$227.7m) for the first quarter of the year, an upward climb of 18.1% year-on-year. Yaniv Sherman, CEO of Bragg, said that the revenue was the result of expansion within certain markets, including North America and Europe. “We extended our momentum in the first quarter with the
Esports betting operator and media business Rivalry announced it will be receiving CA$10m ($7.3m/ €6.6m/ £5.9m) in new strategic financing through the issuance of new stock. Rivalry will raise the financing by issuing up to 6,666,666 subordinate voting shares at a price of $1.50 per share. The business said that online bookmaker Pinnacle, alongside a
In Q1 2023, former state-owned gambling monopoly Svenska Spel announced a 2% increase in revenue to SEK1.98bn (£160m/ €180m/ $190m) compared to the SEK 1.94bn the group achieved in the same period the previous year, despite the imposition of new responsible gambling measures. Svenska Spel reported that the company’s land-based Casino Cosmopol and Vegas slot
Igaming and esports supplier Esports Entertainment Group (EEG) has announced that it has entered into an agreement to exchange the majority of its debt with company stock. The business entered into the deal with the holder of the debt, Alto Opportunity Master Fund, which agreed to exchange the remaining balance of the company’s liabilities into
GAN is set to receive a $30m (£24.1m/€27.3m) loan from Beach Point Capital affiliate BPC Lending I LLC, as part of three agreements signed earlier this month. This forms part of a credit agreement that took place on 26 April 2022. GAN, through its wholly-owned subsidiary GAN Nevada, officially entered into the three agreements on
French national lottery operator Française des Jeux (FDJ) reported revenue of €662m (£583.9m/$726.5m) for the first quarter of 2023, ended 31 March. This was up by 8% compared to FDJ‘s performance in Q1 2021. On a pro-forma basis for 2022 – which included revenue from FDJ’s point of sales segment Aleda and payment service L’Addition
Troubled Australian casino operator The Star Entertainment Group is to engage new cost and restructuring initiatives as the business warns that it is experiencing “a significant and rapid deterioration in operating conditions”. Star, which has been the target of multiple parliamentary inquiries into misconduct, said that it intends to restructure due to the compounding impact
