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The Latest in finance
Business
March 26, 2024
888 Confirms FY 2023 Results, Expresses Optimism about 2024
Gambling group 888 has posted its FY 2023 results, highlighting its performance in the year ended December 31. The figures confirm some of the figures first announced in January. In 2023, 888 recorded revenue of £1.71 billion ($2.16 billion) – a figure that was affected by the company’s dotcom exits, safer gambling-related changes in the […]
Business
March 26, 2024
888 Unveils Potential Rebrand Following FY 2023 Results
London-listed gambling operator 888 has unveiled a comprehensive value creation plan (VCP) following its full-year 2023 results, which saw a significant 38% increase in reported revenue. The company has outlined priority targets for the upcoming year, revealing potential changes such as a rebranding to evoke plc, subject to shareholder approval at the 2024 AGM. Ongoing […]
Business
March 26, 2024
Flutter Entertainment Posts $11.8B Revenue, Weighed by Loss
Flutter Entertainment is shutting the book on a full financial year with the company seeing a 24.6% increase in its annual revenue, but also posting a $1.21bn net loss which has prevented the FTSE100 company from shining. Loss Prevents Flutter from Shining in FY2023 The negative performance market has widened since FY2022 when the company […]
Business
March 22, 2024
Gambling.com Posts FY 2023 Results & FY 2024 Guidance
Gambling.com Group, a provider of high-performance digital marketing services for the iGaming industry, has posted its Q4 and FY 2023 results. In addition to that, the company updated its guidance for 2024. In Q4 2023, Gambling.com recorded revenue of $32.5 million, up from $21.3 million in Q4 2022. The company also reported quarterly adjusted EBITDA […]
Casino
March 22, 2024
New Jersey Court Reexamines Casino Property Tax Amendments
A New Jersey Appellate Court panel recently heard arguments in two cases concerning amendments to the state governing how much money casinos pay in lieu of property taxes. The cases, brought by Atlantic County and the nonprofit Liberty and Prosperity, revolve around changes made in 2021 that excluded internet gaming and online sports betting revenues […]
Industry
March 22, 2024
Clark County Releases Debriefing Report on Las Vegas Grand Prix
Clark County staff has compiled a comprehensive debriefing report on the Formula One race held on 18 November, shedding light on the event’s economic impact that brought significant financial gains for some while causing hardships for many small businesses along the Strip. The results should provide valuable takeaways for future races, helping reduce costs and […]
Business
March 21, 2024
Penta Investments Reportedly Considers Divesting Fortuna Entertainment
Penta Investments, which owns the betting and gaming powerhouse Fortuna Entertainment Group, is reportedly considering selling the operator. According to Reuters, the investment group onboarded JPMorgan to explore a potential sale. Fortuna, which is one of the leading gambling entities in Central and Eastern Europe, could sell for as much as 2 billion Euros, a […]
Business
March 21, 2024
Sportradar Posts Exceptional Q4 and Full Year 2023 Results
The leading global sports technology company, Sportradar, released its latest financial update, uncovering details regarding its performance for the fourth quarter and full year 2023. The company confirmed that its revenue for 2023 hit €877.6 million ($957.3 million) a result that marked a 20% year-over-year increase. The growth was driven primarily by an increase in […]
Business
March 21, 2024
Las Vegas Sands CEO Goldstein Divests $5.2M in Company Shares
Recently, Robert Goldstein, Las Vegas Sands’ chief executive officer (CEO), divested a number of his shares in the company. The sale involved 100,000 shares of Class A common stock in the Las Vegas Sands, a Form 144 filing with the Securities and Exchange Commission (SEC) reveals. The SEC filing confirms that the 100,000 shares have […]
Business
March 21, 2024
Star’s Special Manager Is Being Paid $1M a Year, Report Says
Nicholas Weeks, the government-appointed special manager of Star Entertainment’s business is being paid almost $1 million a year for his work at the company’s Sydney casino, the Financial Review reported. Considering that Weeks is also responsible for overseeing the group’s casino in Queensland, his salary might be well over what Star CEO Robbie Cooke gets. […]