Author: David Randall

In the first half of the fiscal year, Star experienced a 14.6% decline in revenue to AU$865.7m (£445.4m/€520.7m/US$564.3m). Despite this, the company managed to achieve a modest net profit of $9.1m, a notable improvement from the $1.26bn loss recorded in the preceding year. The substantial loss in the first half of 2023 stemmed from the devaluation of casinos in Sydney, Gold Coast, and Brisbane. This followed a series of lapses in anti-money laundering protocols and social responsibility measures at these establishments. Although there appeared to be some signs of recovery for Star in the first half of 2024, recent developments…

Announced yesterday (19th February), the inquiry will run for 15 weeks, with a final report due by 31st May. Adam Bell SC, who conducted the initial Bell report, will head the inquiry, examining how Star has implemented recommendations from the first investigation. Following the announcement, Star requested a trading halt on the Australian Securities Exchange (ASX). The operator has also confirmed it will postpone reporting its results for the first half of its 2024 financial year. Star was scheduled to report the results on 21st February, but this has now been delayed. The operator states it will announce a new…

Sturgis, a professor at the London School of Economics, hailed the study as “exemplary in all respects”. Nevertheless, he voiced concerns about the General Commission’s (GC) historical track record of generating unreliable statistics, particularly questioning the accuracy of the GSGB, scheduled for release this summer. Sturgis cautioned, “Until there is a better understanding of the errors affecting the new survey’s estimates of the prevalence of gambling and gambling harm, policymakers must treat them with due caution, being mindful of the fact there is a non-negligible risk that they substantially overstate the true level of gambling and gambling harm in the…

The jurisdictions were confirmed as being removed from the grey list following the FATF Plenary, which took place from 21-24 February. Gibraltar was named alongside Uganda, Barbados and the United Arab Emirates. The Plenary noted that all four jurisdictions had made “significant progress” in addressing anti-money laundering (AML) and counter-terrorist financing (CTF) issues that had been identified during previous evaluations. All four had also previously agreed to an Action Plan, wherein certain issues had to be resolved within a stipulated timeframe. “These countries will no longer be subject to the FATF’s increased monitoring process,” the FATF noted. “This comes after…

3 Oaks Gaming, a well-established distributor of iGaming content, has proudly announced the acquisition of its remote operating licence from the UK Gambling Commission (UKGC). This esteemed accomplishment stands as a significant milestone for the company, enabling it to distribute its games to licensed operators across the United Kingdom. This achievement not only extends the company’s reach but also cements its status as a preferred provider within the industry. Operators can expect a diverse array of the supplier’s top-performing games, including 3 Hot Chillies, Coin Volcano, and Sun of Egypt 3, which are presently undergoing certification to ensure compliance and…

The provider concluded its transformation programme in August 2023, resulting in some staff redundancies. Scout stated this move would enable it to streamline its operations and enhance efficiency in serving B2B partners. Initiated in March 2022 under former CEO Andreas Ternström, the programme began showing positive outcomes by Q3, with a decrease in net loss attributed to cost reductions. With the programme now finalized, Jönsson expressed optimism about Scout’s long-term profitability. “We are on track to become a profitable company and deliver value to our shareholders,” Jönsson affirmed. “While we have achieved significant milestones, we are committed to further enhancing…

Last month, the North Carolina State Lottery Commission endorsed 11 March as the launch date for online sports betting in the state. However, players can register for accounts and deposit funds starting from 1 March. This decision was not unexpected. When North Carolina’s governor, Roy Cooper, ratified House Bill 347 on 14 June last year, he also outlined a timeline for its execution. The bill necessitated that North Carolina formulate sports betting regulations by 8 January 2024, and state operators must begin accepting wagers by 14 June 2024. Speculation intensified recently after the Commission set a deadline of 26 January…

Starting from September, the regulations signify the inaugural implementation of maximum stakes for online slots within the UK. The government lauded this announcement as a “landmark” moment for online gambling regulation. Commencing this September, stake limits will take effect following secondary legislation. A six-week transition period will be instituted for operators to adhere to the £5 stake limit. Subsequently, another six-week period will facilitate any necessary technical adjustments to ensure operators’ full compliance with the reduced stake limit. The decision to impose stake limits stems from a 10-week consultation period, during which the government noted widespread agreement among respondents regarding…

Better Collective, a leading digital sports media group, reported a 21% increase in revenue for 2023 compared to the previous year, surpassing its earnings target of €315m-€325m. Recurring revenue also saw a substantial rise of 47%, reaching €189m. The company observed a 31% growth in EBITDA before special items, amounting to €111m, aligning with its objective range of €105m-€115m. The EBITDA margin stood at 34%, consistent with the group’s target range of 30%-40%. Jesper Søgaard, Founder and CEO of Better Collective, commented, “In 2023, a great team effort across the group secured a prosperous year marked by profitable growth, all…

2023 witnessed a 10% increase compared to 2022, amounting to $66.44 billion, marking a notable surge from the $53 billion collected in 2021. The impressive figures were bolstered by a remarkable fourth quarter, with an unprecedented quarterly revenue of $17.4 billion and a record $6.2 billion generated. Land-based casinos maintained their robust performance, achieving a record Gross Gaming Revenue (GGR) of $49.4 billion in 2023, a 3.3% rise from the previous year. Nineteen out of the 27 traditional gaming markets recorded their highest-ever annual revenue. Sports betting also exhibited significant growth, with a record handle of $119.8 billion and revenue…