Wednesday, February 8, 2023

Tag: Finance

DraftKings stock plummets after Hindenburg short

DraftKings stock plummeted June
Shares at US gaming giant, DraftKings, fell more than 12 percent mid-June after the activist short seller, Hindenburg Research, bet heavily against its future profitability.

GBGC: Global igaming model prepares for major changes

GBGC Global iGaming model prepares major changes cryptocurrency
The true advent of cryptocurrencies and an international effort to harmonise corporation tax have long been foretold, writes Warwick Bartlett, chief executive of Global Betting and Gaming Consultants. Both are now palpable, and set to shake the foundations of the global online gaming industry.

NFL set for $2.3bn annual windfall from sports betting regulation

The American Gaming Association has predicted the regulated US sports betting market could boost NFL annual revenue by up to $2.3bn, following a review into the future of the industry by Nielsen Sports. The study, commissioned by the association to assess the profitability of sports betting, states that media and sponsorship deals could significantly enhance the league’s takings. “So much time...

Kenyan operators punished as government overturns proposed tax reduction

The recommendation by Kenya’s National Finance and Planning committee to reduce tax paid by gambling operators has been dismissed by the country’s parliament. The proposal, made as part of an appraisal of the Finance Bill 2018…

Catena Media resolves upon a directed new issue of shares as payment for assets in April 2018

The board of directors of Catena Media plc has, under the authorisation in the articles of association of the Company resolved upon a directed new issue of 212,611 shares as payment of part of the purchase price for acquired assets in as well as in …

NOVOMATIC cancels E6bn flotation

iGaming Times Novomatic Flotation
NOVOMATIC Group has cancelled its plans for an initial public offering (IPO) due to regulatory uncertainty in its core markets of Germany and Austria. The company’s CEO Harald Neumann announced NOVOMATIC had decided: “the regulatory environment in Europe is still not clear enough for to rely on the figures.” The flotation was thought to have attracted around E6bn for the...

Investors stay positive on UK machine review

Betting Business, investors Ladbrokes sites
  With a potentially calamitous review of high street gaming machines due to be announced any day now, investors in British bookmakers exposed to sharp losses are remaining remarkably cool.   The Triennial Review of UK gaming machines will include measures to reduce the maximum stakes on fixed-odds betting terminals this month. Currently at £100 per spin, sources close to the review...

Newgioco Group records key growth in Q1 2017

BB - Jackpotjoy accounts report AGM Cherry Yggdrasil Newgioco strong
The regulated online and offline leisure gaming and wagering company, Newgioco Group, has reported significant increases in its Q1 2017 results.   Newgioco Group, Inc. has filed its 2017 first quarter results with the U.S. Securities and Exchange Commission reporting an increase of approximately 88.8% in non-GAAP gaming turnover to $52.7 million for the first quarter of 2017, up from $27.9...

Kenyan operators begin fightback against 50 percent tax rate

BBi - Kenyan Henry Rotisch tax rate
After a shock announcement from the Kenyan government that gambling revenues would be subject to a 50-percent tax, one operator has filed a legal challenge against the regulator, claiming that the hike is ‘unconstitutional’.   Sports-betting operators in Kenya are kicking back against controversial plans to institute a 50 percent gaming-revenue tax, with one operator launching a legal challenge against the...

Genting Casino launches Live Immersive Roulette

Betting Business Live Casino
The Malaysian casino brand has developed a new technology enabling players to join roulette tables from the comfort of their own homes.   Genting Casino & Live Casino is excited to unveil the latest in online gambling – Live Immersive Roulette. The new technology means that players are able to join exhilarating roulette table games without even having to leave the...

NetPlay TV net revenues up 15 percent in H1

Betting Business Netplay TV
NetPlay TV, owner of Jackpot 247, Supercasino and Vernons Bingo, reports continued growth in both revenue and players for the first half of 2016.   NetPlay TV has released its preliminary results for H1 boasting 15 percent growth in net revenues, to £14.7m. The interactive gaming group’s 2015 performance has continued into the first half of 2016 resulting in a 31 percent...