Gambling Clear News
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
Hungarian gaming regulator the Supervisory Authority for Regulated Activities (STFHZ) has fined an unnamed private individual HUF 30m (£70,000/ $87,000/ €79,000) for organising a real estate lottery. The regulator warned that such activities, where real estate or cars were given away as part of a lottery, are considered games of chance, and that neither private
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
Alex Igelman, CEO of Esports Entertainment, shared the company’s plans for B2C expansion and outlined its divestment efforts in a letter to shareholders published today (18 April). Esports Entertainment has been in trouble since May 2022 when it admitted “doubt” regarding whether it could stay in business for another year. In November, its brands SportNation
Bet365 is set to launch iGameMedia and THEO Technologies’ optimised sports streaming service next month. Sports broadcaster iGameMedia and THEO – which has developed High Efficiency Streaming Protocol (HESP) – will deliver ultra-low latency sports streaming to the sportsbook market as standard, phasing out HTTP Live Streaming (HLS). The two have combined with rights agency
There have been a number of concerns regarding the proposed 15% tax rate on gross gambling revenue in Brazil, with one high profile stakeholder arguing the true rate could be 26.25% after additional contributions. On 12 April, Brazil’s Ministry of Finance held a public audience in Brasilia announcing that that it would be imposing a
A number of industry sources have informed iGB that the long-awaited Gambling Act Review White Paper is due to be released as early as Monday 17 April. iGB understands that speculation has come to a head with industry sources widely expecting that the White Paper is due to be released next week, perhaps as early
