Business
May 2, 2020
GVC Announces Temporary Pay Cuts, Execs Forego Bonuses
Sports betting giant GVC has implemented payment reduction and bonus cuts for the company’s high-ranking employees in a bid to help it pull through the COVID-19 outbreak. GVC Execs Opt Out of Bonuses to Support the Company GVC has announced pay cuts for high-ranking staff members. The measures will affect everyone up the command chain, […]
Business
May 2, 2020
Online Casinos and Betting Could Go Mainstream Because of COVID-19
The abrupt suspension of all land-based gambling activity has prompted many companies and lawmakers to seek an alternative, turning to online betting and gaming. Online Gambling May See a Brighter Future Because of COVID-19 Lockdown With most lawmakers resisting the shift towards online casinos and mobile sports wagering, 2020 and 2021 may yet see a […]
Business
May 1, 2020
DEAC Filing to Clear DraftKings for Nasdaq Listing Reveals Shareholders, Other Merger Details
Diamong Eagle Corp /DEAC/, the Special Purpose Acquisition Company /SPAC/ created for the merger between DraftKings and SBTech, announced last week its shareholders approved the deal that involved the Boston-based fantasy and sports book operator and the European technology provider. Subsequently, this meant that since Friday, April 24, DraftKings started trading on the NASDAQ as […]
Business
April 30, 2020
Flutter Entertainment and The Stars Group Set Merger Date for May 5
Paddy Power Betfair parent company Flutter Entertainment is drawing closer to the long-anticipated merger with The Stars Group (TSG). After shareholders from both companies have approved the move and regulators have given their go-ahead, the merger will be completed on Tuesday, May 5. This will conclude the process that began back in October 2019, when […]
Business
April 29, 2020
Nevada Gaming Control Board: March Gaming Revenue Sank Nearly 40%
Gaming revenues for March in Nevada, the gambling focal point in the US, slumped 39.6% year-on-year as a result of the casinos closure that had been in effect, the Nevada Gaming Control Board pointed out. The state-wide order to close down casinos as part of the non-essential businesses that needed to halt operations to help […]
Business
April 28, 2020
UK Gambling Companies Agree to Limit TV and Radio Ads through June 5
The Betting & Gaming Council and the United Kingdom’s leading gambling companies have negotiated temporary measures to help protect vulnerable gamblers by limiting the number of advertising shown on TV and radio. TV and Radio Advertisement for Gambling Limited Through June 5 Gambling operators in the United Kingdom have agreed to a new measure to […]
Business
April 27, 2020
Kindred Group Posted 11% Revenue Growth for First Quarter 2020
Malta-based Kindred Group issued its January-March 2020 interim report, posting first quarter winnings of £249.7 million, an 11% increase in revenue compared to the same period in 2019. Underlying earnings before interest, tax, depreciation, and amortisation /EBITDA/ amounted to £42.5 million, despite £20.7 million of comparability cost adverse effect. Sports Betting the Main Driver Despite […]
Business
April 27, 2020
Aristocrat Updated ASX Investors Regarding Policy Related to Health Crisis
Australian gaming provider company Aristocrat issued an investor update on Monday, outlining the steps it will undertake in response to the ongoing situation across the world related to the spread of the coronavirus infection. Having as a first priority the health and well-being of its team members and their families, 99% of the company’s employees […]
Business
April 27, 2020
Hard Rock Intl. Confident it Will Win Hellinikon Appeal
Hard Rock International has appealed Greece Gaming Commission’s decision ruling in favor of Mohegan Gaming & Entertainment for the Hellinikon gaming project. Hard Rock Appeals The Gaming Commission’s Decision The airport near Athens in Greece is proving a contentious point between two gaming giants and Greece’s Gaming Commission. Mohegan Gaming and Hard Rock International may […]
Business
April 26, 2020
AGA Approves of SBA Proposed Changes to Aid Gambling SMEs
Finally, an amendment has been introduced by SBA which would allow small gambling businesses to weather the COVID-19 lockdown and receive federal funding. The Latest PPP Changes Finally Get Approval from AGA Following weeks of pressure and debates, the Small Business Administration (SBA) finally agreed to revise the Paycheck Protection Program (PPP) on Friday, April […]