Author: David Randall

In 2023, Playtech, a notable figure in the gaming industry, announced a 6.6% increase in revenue from continuing operations, reaching €1.71 billion. This growth was attributed to advancements in both its B2B and B2C segments. The company’s CEO, Weizer, underscored the importance of the U.S. market, highlighting the opening of a third live casino in Pennsylvania and the expansion of its license portfolio to 11. Notably, the B2C division crossed the €1 billion mark in revenues for the first time, with Snaitech playing a crucial role in this achievement. Weizer expressed gratitude towards Playtech’s global team for their resilience amidst…

888 Holdings reported a significant improvement in its financial performance for FY2023, with adjusted EBITDA reaching £308.3m, up from £217.9m the previous year. The company also saw a substantial increase in revenue, totaling £1.70bn compared to £1.24bn in 2022, despite facing a net loss of £56.4m, a notable improvement from the £120.5m loss reported in 2022. Basic loss per share halved to £0.126 from £0.283. The increase in revenue and adjusted earnings contrasts with a 25% decline in adjusted profit after tax, down to £48.1m. Despite this, the company’s performance met expectations set in its January 2024 Post Close Trading…

In a recent legal development,’s former proprietors, including members of the Singels family, ex-CEO Melvin Bostelaar, and previous marketing director Robert Kooiman, have lodged a counterclaim against Entain. This action is a direct response to accusations by Entain concerning undeclared regulatory investigations which purportedly devalued the Dutch business by as much as €156 million. The dispute surfaced after Entain acquired BetCity for €450 million in January 2023, a move that facilitated Entain’s entry into the Dutch market. BetCity was among the first ten licensees in the Netherlands at that time. Entain’s claim, initiated in January of the current year, emerged…

Penta, an investment group, is considering various strategies for the future of its Fortuna franchise, a prominent betting and gaming operator in Central and Eastern Europe. Fortuna operates in Poland, Croatia, Romania, Slovakia, and the Czech Republic, offering gambling services through both physical betting shops and online platforms under the brands Fortuna, Casa Pariurilor, and PSK. A potential sale of Fortuna is speculated to fetch up to €2 billion, as reported by Reuters. Penta initially invested in Fortuna in 2005, acquiring a 79.8% stake by 2017 and subsequently took full control in 2018 through a takeover bid executed by its…

Gambling.com Group has entered into a financial agreement with Wells Fargo Bank, securing a $50 million credit arrangement. This deal comprises a $25.0 million revolving credit facility and an equal amount in a term loan facility, set to mature on March 19, 2027. Wells Fargo may approve an incremental increase of up to $10.0 million to this facility. The purpose behind this financial maneuver, as stated by the group, is to bolster general corporate undertakings and to manage deferred consideration payments. Furthermore, the credit is expected to support potential expansion opportunities. Gambling.com Group’s CFO, Elias Mark, emphasized the significance of…

On May 1, Jason Park will assume a newly established position at DraftKings, marking a significant transition after nearly five years as the Chief Financial Officer (CFO) since his start in June 2019. This strategic move positions Park to spearhead technology deployments aimed at enhancing operational efficiencies and to manage the integration of the impending $750 million acquisition of Jackpocket, a development that was publicized last month. DraftKings’ co-founder and CEO, Jason Robins, expressed his decision to appoint Park for this crucial role, emphasizing the anticipated benefits in terms of profitability and operational improvements. Robins highlighted Park’s extensive experience, including…

In February, the revenue from sports betting in Washington, D.C., remained consistent with the same period last year, although it was significantly less than the $2.4 million earned in January 2023. The total bets placed by players, known as the handle, was $12.0 million, a slight decrease from $12.6 million in February 2023 and 25% lower than the $16.0 million spent in January. Caesars led the operator pack in February, generating $409,386 from $3.3 million in bets. GambetDC was a close second, with revenues of $403,646 from a higher handle of $5.3 million. BetMGM and FanDuel followed, earning $294,651 and…

On a pivotal Saturday, just two days shy of the critical crossover deadline, the House of Representatives cast a decisive vote of 92-43 in favor of a bill poised to put the legalization of iCasino on the November ballot for public decision. This move hands the Senate a tight timeframe of less than a month to act before the General Assembly adjourns on April 8. In a recent development, House leadership unveiled a budget plan on March 15, boasting a $1.3 billion framework that incorporates anticipated tax revenues from legalized internet gambling. This financial strategy is earmarked to support future…

The Malta Gaming Authority (MGA) has announced the immediate cancellation of the authorization issued to Rush Gaming, affecting its operation of Fansbet.com and Onebet.com websites. The specific reasons for the revocation remain undisclosed, following a precedent set in January when the MGA highlighted that license suspensions could occur due to violations of gambling regulations or Maltese laws. In response to the cancellation, Rush Gaming is mandated to inform all its players about the decision and to clear any pending financial obligations. The company, holding a B2C gaming license for various gambling activities including casino games, controlled skill games, and fixed-odds…

Entain, a prominent player in the gaming and betting industry, has sought the advisory services of Wall Street firm Moelis for guidance on potential asset divestitures, as reported by the Financial Times. This strategic move comes in the aftermath of the company disclosing a substantial net loss of £936.5m for the fiscal year 2023, detailed in its annual earnings report on March 7. The decision to potentially offload assets stems from Entain’s desire to streamline its operations following an aggressive expansion phase, highlighted by acquisitions such as the controversial purchase of STS in 2023, which faced opposition from shareholder Eminence…