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Business
November 24, 2023
Intralot Posts Strong Third Quarter Results with Revenue up 8%
The international gaming solutions provider, Intralot, released its latest financial update, uncovering details regarding its performance for the third quarter of 2023. Besides Q3 2023, the latest report shared insights regarding the company’s performance for the nine months ended September 30, 2023. Intralot’s Q3 2023 revenue hit €104.8 million ($114.5 million). This result, compared to […]
Blockchain
November 24, 2023
Singapore Unveils Plans for Stringent Crypto Regulations
Currently, gambling is strictly regulated in Singapore. With online gambling prohibited, residents and visitors can participate in lottery, retail gambling or wagering on horses. However, Singapore residents are subject to additional fees when visiting casinos, an effort by the government to deter them from such activities. In contrast, tourists in Singapore do not need to […]
Business
November 23, 2023
Fitch Trusts Light & Wonder to Hit Its EBITDA Leverage Goals in 2024
Fitch, a renowned capital market analyst, is optimistic about Light & Wonder’s EBITDA leverage targets, believing that the gambling supplier will be able to hit its goals by 2024. While the agency still believes there is some default risk associated with the company, it still gave Light & Wonder a BB rating. Fitch updated Light […]
Business
November 23, 2023
Bragg’s Shares on the Rise after Investor Urges Assets Sale
The shares of the leading provider of technology and services, powering betting and gaming operators, Bragg Gaming Group, increased Wednesday, after one of its largest shareholders sent a letter, supporting different business combinations, including partial or full sale of the company’s assets. The letter was sent by Jeremy Raper, the founder of Raper Capital, a […]
Business
November 23, 2023
Entain Faces Investor Uprising as Activist Hedge Funds Demand Change
Entain, the owner of Ladbrokes and Coral brands, is grappling with mounting pressure from two additional US activist hedge funds, Dendur Capital and Sachem Head Capital Management, joining Eminence Capital in expressing concerns about the company’s stagnant share price and the leadership of CEO Jette Nygaard-Andersen. New York-Based Hedge Funds Stealthily Invest Amidst CEO Criticism […]
Business
November 21, 2023
Catena Media Completes Divestment of Italian Assets, Wraps up Strategic Review
Catena Media, a leading iGaming affiliate, announced that it has completed the divestment of its Italian sports and casino assets in two deals totaling EUR 19.8 million ($21.7 million). The company, which just posted its Q3 results, has been restructuring its business for over a year now. One of the transactions has now been closed, […]
Business
November 21, 2023
Catena Media Posts Lower Q3 Results Amid Restructuring Efforts
Catena Media, a company that creates content-rich websites that help users navigate the complex world of online sports betting and casino gaming, has published its Q3 results, reporting a favorable net cash position despite a Q3 revenue drop. As reported by the company, its revenue decreased by 28% year-on-year to EUR 15.9 million ($17.4 million, […]
Business
November 21, 2023
ESPN Bet Launch Propels Penn Entertainment’s Stock
Last week marked the debut of ESPN Bet, the newly rebranded sports gaming app owned by Penn Entertainment. The new sports gambling app launched for 17 US states, entering important markets such as New Jersey, Pennsylvania, Colorado, Iowa, Maryland and Michigan, among others. The latest launch comes after a $1.5 billion deal announced between Penn […]
Industry
November 20, 2023
Pennsylvania and Louisiana Break Sports Betting Records in October
October’s sports wagering revenue results revealed impressive performances across several high-profile jurisdictions. Louisiana and Pennsylvania stand out, setting new benchmarks amidst significant growth in their respective markets. Such detailed results remain integral to understanding emerging industry trends, allowing stakeholders to adjust their strategies and keep players engaged. Pennsylvania Remains a Thriving Market Pennsylvania reported an […]
Industry
November 20, 2023
Bond Investors Double Down on Macau Casino Debt
Bond investors from Asia and beyond are taking the risk and doubling down on investments in Macau casino debt. This move carries certain uncertainties but has the potential to be more lucrative than investments in corporate debt. At the moment, investing in Macau casino debt might be less risky than investing in shares too. The […]
