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Gambling News - 'Finance'
Industry
December 1, 2023
UK Gambling Industry Records Historic Revenues amidst Online Slots Surge
The UK’s betting and gaming industry has achieved record-breaking revenues, surpassing £15.1 billion ($19.11 billion) in the year ending March 2023. The latest data released by the Gambling Commission (UKGC) on Thursday reveals that the gambling products associated with the highest addiction risk drove most of this growth, prompting renewed discussions on the best ways […]
Business
November 30, 2023
Picklebet Secures AUD 15M in Series A Funding
In a significant stride towards expansion and innovation, Picklebet, the Australian avant-garde betting and media company blending esports, sports, and internet culture, announced the successful closure of its AUD 15 million Series A funding round. Substantial investor interest highlighted the operator’s significant potential and will help it capture a market niche with its unique and […]
Business
November 29, 2023
Kindred Posts Q3 Results, Announces NA Exit
Kindred Group has published its unaudited interim report for the period from January to September 2023. Revenue in the third quarter remained stable, leading to positive year-to-date results. In Q3, Kindred’s revenue reached GBP 283.9 million (roughly $360 million), representing an increase of 2%. Gross winnings revenue from the business-to-customer division increased by a single […]
Business
November 29, 2023
MGM Resorts May Consider Bid for BetMGM, Suggests Report
Last week, the owner of Ladbrokes and Coral, Entain, saw growing pressure from US activist hedge funds, Sachem Head Capital Management and Dendur Capital, showing concerns about the company’s leadership under CEO Jette Nygaard-Andersen and its share price. The two additional US activist hedge funds joined Eminence Capital as an expanding number of investors who […]
Business
November 27, 2023
Sun International Confirms Discussions about an Acquisition
The leading gaming, hospitality and entertainment giant that currently holds approximately 43% of the casino market in South Africa, Sun International, hinted at plans for a potential acquisition. The company advised its shareholders on Monday that it is currently in talks about a possible acquisition. Details on the matter are scarce with Sun admitting that […]
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 […]