Blackstone outlines appeal of regulated markets

first_img Tags: Mobile Online Gambling Haide Hong, managing director of investment firm Blackstone’s private equity group in London, has underlined the appeal of companies that operate in gaming markets that offer a “degree of regulatory certainty”.Blackstone has been one of the most prominent investors in the sector in recent years, having announced the acquisition of Spanish gambling operator Cirsa in April after having teamed up with CVC Capital Partners to seal a takeover of Paysafe Group last year.Blackstone also unveiled an agreement nearly a year ago to acquire Clarion Events, the parent company of iGaming Business.Hong, speaking today (Wednesday) at iGB Live! in Amsterdam, acknowledged that a market’s regulatory outlook is a “critical component” of identifying potential M&A targets in the sector.“We’re focused on opportunities in markets that are fully regulated and are wary of opportunities that are not. A regulated market provides a platform for stability,” he said.“We also focus on markets where regulatory changes have not been too frequent and the direction of regulatory travel is not too negative.”Hong was also asked about the implications of what would appear to be a tightening of the regulatory outlook in the UK, considering the reduction of the stake limit for fixed-odds betting terminals (FOBTs) this year and heightened scrutiny by the Advertising Standards Agency.“These things are always going to be part and parcel of any investment opportunity,” he added. “You will sometimes find some headwinds even in very well-established markets like the UK.“However, on the flipside, it is important to think about the messaging to the broader world outside the gaming community and how much a company’s actions might impinge on the social fabric.“As an investor, do we care about that? Yes. We look to invest in companies that have a very clear social care policy and a corporate culture that says they want to be promote responsible gambling and have measures in place.“We want the businesses we own to be in regulated markets and socially responsible. Having the right culture so they are a responsible operator is very important to us and for other investors as well.”Hong also insisted that there remain opportunities in the land-based sector, in spite of iGaming arguably offering a steeper growth trajectory.“Online and offline offer different demographics, but our view is that over time there will be more convergence between the customer segments,” he said.“The online gaming space might have better growth, but that doesn’t mean the traditional offline gaming offers are in decline necessarily as, by definition, the offline industry has operated for longer so there is a longer track record of regulation.“We’ve been an active investor in gaming and will continue to be as it is a great industry with real potential on a global scale.”Hong added that there is “rightly a lot of excitement about the US”, but added: “The market will definitely grow, but in terms of how quickly, let’s see. The opportunity is definitely out there and if the US market continues to open up, it will benefit B2B suppliers that are active in the market.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Investment firm focuses on socially-responsible companies in regulated markets Casino & gamescenter_img Topics: Casino & games Legal & compliance Sports betting Tech & innovation 18th July 2018 | By contenteditor Subscribe to the iGaming newsletter Blackstone outlines appeal of regulated marketslast_img read more

Denmark iGaming Dashboard – Q1 2018

first_img Topics: Casino & games Finance Sports betting Bingo Poker AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Tags: Card Rooms and Poker Online Gambling Subscribe to the iGaming newsletter 2nd August 2018 | By Joanne Christie Bingo iGaming Business and Ficom Leisure are pleased to present the Denmark iGaming Dashboard, providing revenue and product metrics on the dot.dk regulated market.Casino was the star performer in the Danish market during the first quarter of this year, experiencing its best quarter yet at €64.2m, up from €59.9m in the final quarter of last year.Unfortunately, sports betting didn’t fare so well, with GGR falling to €48.3m from €62.3m the previous quarter. This meant that after finishing 2017 on an high with the strongest quarter to date, overall Denmark’s igaming gross gaming revenue fell back to €118.3m in the first quarter of this year.Although a drop on Q4 2017’s €126.6m, it was still the second best quarter on record for the market and a 17% rise on the same period last year.Danish operators have since the start of this year been allowed to offer online bingo, although as the dashboard shows, the vertical got off to a slow start, contributing just €2.0m in GGR. This was perhaps to be expected given its performance in other European markets. Also in keeping with other European markets, poker continues to decline in Denmark and last quarter the vertical recorded its lowest performance since market liberalisation in 2012, falling to €3.8m from €4.3m the previous quarter.Ficom Leisure also provides exclusive monthly estimates on the Italian online market in the Italy iGaming Dashboard, including operator market shares across casino, sports betting and poker, and on the New Jersey market in the New Jersey iGaming Dashboard. It also provides quarterly figures on the Spanish online market in the Spain iGaming Dashboard.A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.  Regions: Europe Nordics Denmark Denmark iGaming Dashboard – Q1 2018 Casino was again the star performer in the Danish market during the first quarter of this yearlast_img read more

Unlicensed operators thriving in Swedish market

first_imgCasino & games Topics: Casino & games Finance Sports betting Unlicensed operators thriving in Swedish market Svenska Spel and ATG lose market share as re-regulation approaches Unlicensed operators are continuing to take business from firms licensed in Sweden, according to the last quarterly figures that will be published by the country’s gambling regulator before the introduction of new iGaming regulations in January 2019.Gross gaming revenue in the Swedish market increased by 1.2% to SEK16.8bn (£1.4bn/€1.6bn/$1.8bn) for the first three quarters of 2018, but regulator Lotteriinspektionen noted a decline in the amount generated by licensed operators. Companies that hold licences in the county generated SEK12.2bn in Q3, down 2.4% year-on-year, whereas unlicensed firms saw their collective revenue climb 12.4% to SEK4.5bn. Svenska Spel remains Sweden’s largest gaming operator with SEK6.4bn in revenue, though this was down 1.6% on the previous year due in part to a 9% drop in land-based gaming revenue. In contrast, online gaming revenue jumped 23% year-on-year.The story was very much the same for at racing operator ATG, where revenue slipped 0.4% to SEK3.1bn, due to a 10% drop in land-based gaming revenue, and despite a 6.7% increase in online revenue. The nine-month results reflect a long-running trend in Sweden, which has seen iGaming grow in popularity and unlicensed operators increase their market share. For the nine months to the end of September, licensed operators held 73% of the total market share, compared to 27% of companies without permits. Online gambling revenue was up 12.9% year-on-year over the three quarters, but land-based gaming revenue has fallen by 8.4% over the same period.According to figures from industry analyst Regulus Partners, Sweden’s listed companies have seen revenue increase 23% on a constnat currency basis, – but only 12% in Euro terms – with Cherry and MRG performing strongly, Svenska Spel trading in-line with expectations and Betsson showing signs of recovery following a period of decline. It noted that Gaming Innovation Group appeared to have seen growth slow, with Kindred Group and LeoVegas losing market share.Sweden’s is to introduce new gambling regulations from January 1st, 2019, which will see online gaming officially legalised and subject to an 18% gross gaming revenue tax. The Lotteriinspektionen expects up to 70 operators to apply for a licence, with more than 22 filing their applications when the regulator started accepting submissions on August 1st.The regulator is expected to begin announcing successful applicants later this month, but has also warned that some operators may be forced to wait as a result of errors in their application paperwork.As part of preparations for the market re-regulation, the Lotteriinspektionen last month appointed Katarina Abrahamsson as its first match-fixing coordinator and also set out new responsible gambling requirements for licensees. Image: Hangsna AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Tags: Mobile Online Gambling OTB and Betting Shops 12th November 2018 | By contenteditor Regions: Europe Nordics Sweden Email Addresslast_img read more

Ninja Casino drives Q3 growth for Global Gaming

first_img Tags: Mobile Online Gambling Global Gaming has cited the performance of its core Ninja Casino brand as the main driver behind a 93% year-on-year increase in Q3 revenue, the operator’s eighth successive quarter of growth. Net gaming revenue amounted to SEK253.1m (£21.8m/€24.6m/$28m) in the three months to September 30, almost double the SEK131.4m generated in the corresponding period in 2017. Much of this was down to an increase in revenue at Nordic-facing Ninja Casino, which jumped from SEK91.6m in Q3 of 2017 to SEK229.8m this year, representing 91% of total revenue for the quarter. Deposits at Ninja Casino, which offers no-registration play via the proprietary PayNPlay platform, were also up 9% on the second quarter of this year, with 75% of customers now accessing the brand via mobile.In total the group’s own B2C brands, including Ninja Casino and new Swedish online casino SpelLandet, which debuted in July, accounted for all but SEK500,000 of Q3 revenue, with the firm’s soon-to-be-discontinued B2B vertical making a minor contribution.“During the third quarter, our revenue increased by 93 percent compared to the corresponding quarter of last year, and growth was 11 percent from the previous quarter. Impressive growth considering the dramatically increased competition in the Swedish market and given that in the latter part of the quarter we somewhat reduced marketing for Ninja Casino,” chief executive Joacim Möller (pictured) commented. The revenue growth contributed to a significant hike in operating costs, which rose 66% year-on-year to SEK 89.9m. Despite Möller saying that marketing had been reduced for Ninja Casino during the period, marketing costs more than trebled to SEK68.6m, while personnel costs rose from SEK8.1m in Q3 2017 to SEK21.2m. The company also reported capitalised development costs of SEK1.1m, with the operator currently developing a new front-end platform. This will be used to power the launch of Ninja Casino in the Estonian market, after Global’s SafeEnt subsidiary secured an operating licence in the market. These factors contributed to total costs for the quarter soaring 193% to SEK103.0m. However due to the copmany’s growth in revenue, operating profit rose from SEK42.1m in the prior year to SEK60.3m. After finance costs and taxes, this saw the operator post a profit for the quarter of SEK54.3m, up 47% year-on-year.For the nine months ended September 30th, revenue was up 140% year-on-year at SEK679.5m, with profit rising 55% to SEK109.0m. Following the end of the reporting period, Global announced that it is to terminate its white label operations in order to focus efforts on its B2C business, and expects to be awarded an operating licence in Sweden’s re-regulated gaming market. In related news, Global has appointed Niklas Jönsson as its new chief financial officer. He will begin his new role on January 1 and replace Christoffer Tell, who will remain in an advisory role to management until February 28. Jönsson joins Global from Evolution Gaming, where he had been serving as chief financial officer. Speaking about his appointment, Jönsson said: “It’s incredibly inspiring to be part of Global Gaming’s continuing journey. Having come from the supplier side of the industry, I now want to continue my personal development on the operator side.” Ninja Casino drives Q3 growth for Global Gaming Finance Swedish gaming company also names Niklas Jönsson as its new CFO Regions: Europe Nordics Sweden AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter 22nd November 2018 | By contenteditor Topics: Finance People Strategy Email Addresslast_img read more

WV sports betting off to strong start in new fiscal year

first_img Subscribe to the iGaming newsletter Email Address Casino & games WV sports betting off to strong start in new fiscal year 13th August 2019 | By contenteditor Topics: Casino & games Finance Sports betting Horse racing Tags: OTB and Betting Shops Race Track and Racino West Virginia’s sports betting market has reported revenue of $704,475.03 for the first five weeks of the state’s fiscal year, with Penn National Gaming’s Hollywood Casino at Charles Town Races maintaining its leadership of the market.  West Virginia’s sports betting market has reported revenue of $704,475.03 for the first five weeks of the state’s fiscal year, with Penn National Gaming’s Hollywood Casino at Charles Town Races maintaining its leadership of the market. For the five weeks to 3 August, beginning from the start of the state’s 2020 fiscal year on Monday 1 July, taxable revenue generated in the state came predominantly from the Penn National venue, which accounted for $539,879.54 of the total.Customer stakes amounted to $7.6m over the period, with Hollywood Casino accounting for $6.0m of this sum.The operator, which has partnered DraftKings for its sportsbook offering in the state, generated the bulk of revenue over the week to 20 July, when revenue hit $274,305.20. This followed a difficult week to 13 July, in which it posted a loss of $70,437.89. Read the full story on iGB North America.Image: Wikimedia Commons AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US West Virginialast_img read more

Wynn slips to loss in Q1 due to Covid-19 closures

first_img Casino operator Wynn Resorts has put a net loss of $402.0m (£325.6m/€372.7m) in the first quarter primarily down to the temporary closure of its sites in the US and Macau due to the novel coronavirus (Covid-19) pandemic.Operating revenue for the three months to March 31, 2020, amounted to $953.7m, down 42.3% from $1.65bn in the corresponding period last year.Wynn reported year-on-year declines across all operations in the US and Macau during the period, as its properties were forced to close as a result of measures designed to slow the spread of Covid-19 in both the US and China.Both the Wynn Macau and Wynn Palace, which are located in Macau, closed for a 15-day period in February 2020 and resumed operations on a reduced basis on February 20.Revenue at the Wynn Macau fell 64.3% from $726.6m to $259.5m in Q1, while operating revenue from Wynn Macau also dropped 56.2% from $523.9m to $229.5m.Looking at the US, the Wynn Las Vegas in Nevada ceased all operations and closed to the public on March 17, and will remain closed until authorised to re-open. Partly as a result of the closure, operating revenue fell 19.3% to $323.8m.Read the full story on iGB North America. Casino operator Wynn Resorts has put a net loss of $402.0m in the first quarter primarily down to the temporary closure of its sites in the US and Macau due to the novel coronavirus (Covid-19) pandemic. Subscribe to the iGaming newsletter Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Financecenter_img Casino & games Regions: China US Macau 7th May 2020 | By contenteditor Wynn slips to loss in Q1 due to Covid-19 closureslast_img read more

GVC faces HMRC investigation over former Turkish business

first_imgLegal & compliance Tags: Online Gambling Regions: Europe UK & Ireland Central and Eastern Europe Turkey GVC faces HMRC investigation over former Turkish business GVC Holdings has revealed that it is under investigation by Her Majesty’s Revenue and Customs (HMRC) over “potential corporate offending” by one of its subsidiaries, in relation to its former Turkish operations. Topics: Legal & compliance Email Address 21st July 2020 | By contenteditor GVC Holdings has revealed that it is under investigation by Her Majesty’s Revenue and Customs (HMRC) over “potential corporate offending” by one of its subsidiaries, in relation to its former Turkish operations.The operator was informed by the UK tax authority yesterday (20 July) that it had widened the scope of an investigation launched in November 2019, to look for wrongdoing within the business.When it received the request for information last year, GVC said, it understood that HMRC’s investigation was targeting a number of former third party suppliers, relating to the processing of payments for online gambling in Turkey.HMRC has not yet informed the operator which subsidiary – or subsidiaries – are under scrutiny, the operator added, nor has it provided details of the nature of the investigation, other than referring to Section 7 of the 2010 Bribery Act. This covers the failure of corporate entities to prevent bribery.Section 7 of the Act states that a commercial organisation is guilty of an offence if a person associated with that company bribes another person to obtain or retain business, or to obtain or retain an advantage in the conduct of business.This division, Headlong Limited, was divested in November 2017, to an entity called Ropso Malta Limited, for a performance-related earn-out of up to €150m (£135.2m/$171.7m). This would have been payable on a monthly basis over five years, at a time when the operator was linked with a bid for Ladbrokes Coral.However, after that acquisition had been agreed in December 2017, GVC announced in February 2018 that it would waive the agreed earn-out for the Turkish business.Earlier that year the operator had been forced to publicly deny that it was still benefitting from Turkish operations following media reports, explaining that the deal had been brokered by US investment bank Houlihan Lokey. It said that it had waived the earn-out in order to avoid regulatory delays to the completion of the Ladbrokes Coral deal.GVC said the decision to expand the scope of the investigation had surprised the company, and that it was “disappointed” by the lack of clarity provided by HMRC as to what it was scrutinising.“In the meantime, the company continues to co-operate fully with HMRC regarding the provision of information,” it said.Shares in GVC Holdings plc were trading down 8.87% at 794.61 pence per share in London at 8:09am. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

BetMGM Q1 revenue reaches 90% of 2020 total as JV aims for $1bn by 2022

first_img Online sportsbook BetMGM recorded revenue of $163m for the first three months of 2021 – 90% of its entire 2020 total. Casino & games Looking further ahead, the operator forecast annual revenue of over $1bn 2022 with a 20-25% US market share of a market it estimates to be worth $32bn. Tags: BetMGM MGM Resorts Entain 22nd April 2021 | By Nosa Omoigui Topics: Casino & games Sports betting Online casino Q1 results 2021 Online sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Read the full story on iGB North America. At an investor day event, the MGM-Entain joint venture announced it posted net revenue of $178m for the entirety of last year, but it appears set to eclipse that total by early Q2. Regions: US Subscribe to the iGaming newsletter BetMGM Q1 revenue reaches 90% of 2020 total as JV aims for $1bn by 2022 Email Addresslast_img read more

LPL 2020 : Irfan Pathan signs for Lankan Premier League, will…

first_imgby Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeIPL 2020: Bad news for Sunrisers Hyderabad’s Jonny BairstowUndoIPL 2020 : Srikanth and fans slams MS Dhoni, says ‘wasted 15 Cr on Jadhav & Chawla’UndoFree Fire Redeem Codes for April 13th, Best ways to Redeem themUndo“I just need a bit of clarity about domestic cricket,” he said. “As soon as I get some clarity, I would love to help out whichever team I can, share my experience, I would love to do it. That’s always open.”Also read: LPL 2020: Lanka Premier League schedule announced; Check outIndian players – even recently-retired ones – do not generally turn out for foreign franchise tournaments. But LPL has pursued older Indian players, with no significant pushback from the BCCI. Manpreet Gony, who also last played a competitive T20 match 18 months ago, has been picked by the Colombo Kings franchise.Pathan’s signing is a minor boost for the tournament, after five other foreign players – Andre Russell, Faf du Plessis, David Miller, Manvinder Bisla and Dawid Malan – were confirmed by an SLC official to have withdrawn from the LPL, in the past week. The LPL is scheduled to begin on November 21 and will run till December 13. LPL 2020 : Irfan Pathan signs for Lankan Premier League, will play for Kandy Tuskers Cricket WTC Final Day 3 LIVE Score: Latham, Conway stand tall against India; NZ 43/0 (23 ovs)- Follow Live Updates Cricket Former India international, Irfan Pathan has signed up with forthcoming Lanka Premier League (LPL 2020). According to the available information, Irfan will play for Kandy Tuskers in the league. The team is owned by actor Salman Khan’s brother Sohail Khan, as an overseas player.Irfan has confirmed the signing to ESPNcricinfo. Pathan joins a Tuskers roster that includes Chris Gayle, Liam Plunkett, Wahab Riaz and Kusal Perera.“I am definitely looking forward to this,” Irfan said. “Yes, I had retired from T20 cricket, but I can play around the world and hopefully I will be able to have fun with my game as well, which I didn’t have for the last two years. I think I can still play some, but I will start slowly and see how this goes, and then I will take it forward.”, Irfan told ESPN Cricinfo.  In the auction last week, two Indian players – Manvinder Bisla and Manpreet Gony – were picked by teams, but Pathan is one of the top Indian cricketers to sign up for the tournament. But according to reports, Bisla has already pulled out of the league.  Irfan, 36, had not played T20 cricket since February 2019, turning out only for the India Legends side in a charity tournament since then. He is currently commentating on the IPL in the UAE.The schedule for the Lanka Premier League (LPL) was announced last week, with Colombo competing against Galle in the opening match of the tournament on November 21 at the Mahinda Rajapaksa International Cricket Stadium in Hambantota.  Cricket Cricket RELATED ARTICLESMORE FROM AUTHOR Euro 2020, Switzerland vs Turkey LIVE: Switzerland to punish hapless Turkey; Follow Live Updates WI vs SA 2nd Test Day 3 Live: Start delayed due to wet outfield, SA lead by 149 runs – Follow Live Updates YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinition|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndo Facebook Twitter Formula 1 Latest Sports News By Kunal Dhyani – November 1, 2020 center_img Cricket Previous articleWWE Smackdown Recap: Top 10 moments from the last episode of Smackdown – 30th October 2020Next articleIPL 2020 RCB vs SRH Highlights: SRH climbs to 4th spot; beats RCB by 5 wickets to keep playoffs hopes alive Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Football CricketLatest Sports NewsSport F1 French GP 2021: Max Verstappen pips Lewis Hamilton to win French GP, Perez finishes 3rd Irfan Pathan the former India allrounder, has signed a contract to play in the Lanka Premier League (LPL) for the Kandy Tuskers franchise. Pathan, who had mentored Jammu & Kashmir to the Ranji Trophy knockouts in 2019-20, also said that he was opening to assisting teams if and when the Indian domestic season gets underway. TAGSIrfan Pathan Kandy TuskersIrfan Pathan signs for LPL 2020Kandy Tuskers – Salman Khan familyLankan Premier LeagueLPL 2020 SHARE WTC Final Live: Virat Kohli continues century drought as Kyle Jamieson wins IPL team rivalry Wimbledon 2021 LIVE streaming: When, where and how to watch year’s third Grand Slam’ in you country, India Share on Facebook Tweet on Twitter Cricket PSL 2021 Playoffs: Schedule, Timing, LIVE streaming, list of champions; all you need to know BCCI to form committee to take call on compensating domestic cricketers Tokyo Olympics: Deepika Kumari to be sole entry to Tokyo Games as Indian women’s recurve team fails to qualify Cricket WTC Final 2021: India vs New Zealand Full Squad, Schedule, Live Streaming, Date, Time, Venue all you need to know World Test Championship finallast_img read more