Trinidad and Tobago’s World Cup dream fading

first_imgTrinidad and Tobago’s dream of making a second World Cup appearance is fast becoming a nightmare after a listless 1-0 home loss to CONCACAF hexagonical group leaders Mexico on Tuesday.Diego Reyes’ sealed victory for the Mexicans with a second-half header, to send his team clear on nine points. Trinidad and Tobago were regulated to cellar dwellers on three points as a result.Reyes, scored his first international goal off a Miguel Layun corner.The Mexicans were not without luck however as  a  first half strike by Trinidad and Tobago’s Joevin Jones was incorrectly ruled offside. Just after 30 minutes, Jones was sent through down the left and drove home from an acute angle, but the officials would have none of it.Mexico gradually gained the ascendancy in the second half and semed to turn off the throttle after Reyes opened the scoring.Mexico made five changes to the team which beat Costa Rica on Friday, while, the hosts made just one change, brining in Aubrey David to replace Carlos Edwards in defence.The visitors went close to opening the scoring in the 18th minute when Hernandez and Raul Jimenez combined, but the former missed the target with his header.In other CONCACAF qualifying matches the United States and Panama drew 1-1 and Honduras and Costa Rica finished with the same result. read more

Young Reggae Girlz win CFU Championships

first_imgYoung Reggae Girlz Jamaica’s young Reggae Girlz clobbered host nation St. Kitts & Nevis 9-0, in the CFU Women’s Under-20 soccer final at the Warner Park Sports Complex on Sunday to win the championships.In the curtain raiser, Haiti joined Jamaica in the CONCACAF Women’s U-20 Championship for next year after dispatching the Dominican Republic 4-1.The last time Jamaica’s U-20 women’s team won the CFU title was in 2013. At the CONCACAF Championship, the Jamaicans will play in Group ‘B’ alongside Mexico, the United States and Nicaragua.Group ‘A’ will have Costa Rica, Canada, Haiti and hosts Trinidad and Tobago.last_img read more

Guyana Named the World’s Fastest Growing Economy

first_imgGEORGETOWN, Guyana, CMC – Guyana has been named the world’s fastest-growing economy by NASDAQ, the second largest stock market in the world.In a report, NASDAQ said that with a projected growth rate of 16.3 per cent during the four-year period 2018-2021, Guyana is the fastest growing economy in the world.NASDAQ says that with a GDP size of $3.63 billion (2018 Rank: 160), a growth rate of 4.1% in 2018 and 4.6% in 2019, Guyana’s economy is expected to grow by 33.5% and 22.9% in 2020 and 2021 respectively.The article added that with a per-capita income of $5,194, Guyana is a middle-income country and is covered by dense forest. It is home to fertile agricultural lands and abundant natural resources. Gold, bauxite, sugar, rice, timber, and shrimp are among its leading exports.The report also pointed to the ExxonMobil discoveries in Guyana and the income that will come to the country when oil production begins next year.ExxonMobil, an American multinational oil and gas corporation, is expected to start producing up to 120,000 barrels of oil per day from the Liza Phase 1 development next year and the country is projected to be among the world’s largest per-capita oil producers by 2025.Ethiopia, Rwanda, Bangladesh and India were listed among the top five fastest growing economies.last_img read more

Worldwide operational expansion sees Kindred move to new Wimbledon office

first_img TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Share GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 Mace launches EQ Connect to solve the industry’s ‘single view’ conundrum on identifying risk  August 10, 2020 Related Articles Submit StumbleUpon Share Alexander WestrellStockholm-listed online gambling operator Kindred Group Plc has moved its UK staff into a new purpose-built ‘Kindred House’ office building in Wimbledon.The European operator has been based in Wimbledon (London SW19) since 1997, where Kindred has primarily housed its marketing and commercial corporate functions.Speaking to SBC, Alex Westrell Group Head of Communications for Kindred Group, detailed that the launch of Kindred House would form a key part of the company’s worldwide operational expansion.“We are all very excited to be back in Wimbledon, our home since 1997.  This is our fifth office in Wimbledon, and this time around in our very own, brand new building, which really adds to the excitement. We pride ourselves on being a Great Place To Work, and a building like this really sets the framework for that. Kindred House gives much better collaboration spaces, a vibrant communal area, and the best view in Wimbledon” Westrell details“Kindred House is the second completion of several new offices we are in the process of moving into. In May earlier this year, our team in Gibraltar moved into the World Trade Centre. Next up is Malta, bringing together our two current offices into one, with scheduled delivery in Q3 of 2018. We recently also announced an early 2019 opening of the new tech hub in central Stockholm.”This November, Kindred governance confirmed that the company had committed to a relocation project for its Stockholm ‘home HQ’. The company will migrate its ‘home’ Stockholm office to new premises within the ‘Urban Escape Project’ in central Stockholm, a business property currently being developed by AMF Fastigheter.last_img read more

Paddy Power pays out on City winning the title

first_img Related Articles Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 Ahead of this Sunday’s eagerly awaited derby clash, bookmakers Paddy Power have already taken the bold decision to pay out on City winning the title.With an eight point lead at the top of the table, many pundits believe that a City victory at Old Trafford on Sunday will all but end the title race, however Mourinho’s United side come into the game of the back of four victories and are unlikely to go out without a fight. The payout will cost them in excess of £500,000, even if City go onto fluff their lines at the top of the table. Before the season, the Blues were 15/8 to top the league – but are now 1/9, odds which will only shorten with a victory at Old Trafford on Sunday.Meanwhile, Mourinho’s United are distant 9/1 second favourites – while City are 22/1 to clinch a treble (Premier League, FA Cup and Champions League), and just 50/1 to win an unprecedented quadruple (as the treble, but with the Carabao Cup).They’re already short odds to score more than 100 goals in the league this season (1/3), to break the Premier League points record of 95 (Evens), and to go unbeaten for the whole campaign (7/1).Paddy Power brand ambassador and former Manchester United player Paul Ince said: “It’s both brave and stupid of Paddy Power to pay out – we’re not even half-way through the season yet. It’s crazy to rule out Manchester United, and even Chelsea.“It’s great for those who backed City, of course, but it could all change – and Paddy Power could end up with a lot of very expensive egg on their face.”But the bookies seem confident – at 12/5, United are the biggest price they have been to win a Manchester derby at home since David Moyes’ reign of terror in 2014. City went on to win that game 3-0.A Spokesman for Paddy Power commented: “We hold our hands up, we’ve fully bought into the hype and can’t see who will come close to Pep’s lads this season.“If you ignore the sky blue shirts, empty seats and Manc accents, being at the Etihad feels like watching a Guardiola Barcelona side. So we’re rewarding the shrewd punters that knew they’d walk it this year.“Then again, if some of our previous pay-outs are anything to go by, Mourinho can rest easy yet. We paid out over $1m on Hilary Clinton to be president and look where that left us.” Submit Share Spotlight ups matchday commentary reach and capacity for new EPL Season  August 21, 2020 StumbleUpon Premier League looks to broadcast every behind-closed-door fixture August 28, 2020 Sharelast_img read more

David Clifton: Licensing Expert – A potentially lethal parting shot

first_img Share David CliftonSarah Harrison departs from her position as Chief Executive of the Gambling Commission at the end of February 2018. Before she goes, she is leaving a potentially lethal parting shot for a substantial number of operators within the gambling industry..I am referring to the Commission’s letter sent to all of its licensed online casino operators on 4 January, in which it raised serious concerns about the remote casino sector’s approach to anti-money laundering (“AML”) and social responsibility (“SR”) and set out actions that the sector is required to take with immediate effect.That demand for action has come too late for the seventeen online casino operators that are already the subject of formal investigation by the Commission, five of which may become the subject of licence reviews.The online betting sector should not regard itself as immune from similar enforcement action, merely by reason of it falling outside the ambit of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“the 2017 Regulations”).I say that because all B2C operators licensed by the Commission are required to:conduct an assessment of the risks of their business being used for money laundering and terrorist financing,review that assessment as necessary (and in any event at least annually) in the light of any changes of circumstances, including the introduction of new products or technology, new methods of payment by customers, changes in the customer demographic, or any other material changes,put in place and effectively implement appropriate policies, procedures and controls to address the risks identified in that assessment,keep those policies, procedures and controls under review and revise them appropriately to ensure they remain effective,comply with the requirements of the Proceeds of Crime Act 2002 (“POCA”), including in relation to submission of suspicious activity reports and prevention of “tipping off”,monitor customer activity and transactions (using a risk-based KYC approach), to obtain an understanding of the source of funds and wealth of higher-risk customers (which category includes problem gamblers),put into effect policies and procedures for customer interaction where they have concerns that a customer’s behaviour may indicate problem gambling,ensure that, within those policies and procedures, specific provision exists for making use of all relevant sources of information to ensure effective decision-making and to guide and deliver effective customer interactions including, in particular, provision to identify at-risk customers who may not be displaying overt signs of, or overt behaviour associated with, problem gambling,keep a record of all customer interactions and, where an interaction has been ruled out, the reasons for this decision, andprovide (and maintain records of) both induction and refresher training to employees in relation to all of the above.None of what I say above should come as any surprise to either casino or betting operators. If it does, I recommend very strongly that they immediately re-read the licensing objectives set out in section 1 of the Gambling Act 2005, the Gambling Commission’s Licence Conditions and Codes of Practice (“LCCP”) and:in the case of casino operators, the Commission’s “Prevention of Money Laundering and Combating the Financing of Terrorism” guidance, andin the case of betting (and other non-casino) operators, the Commission’s “Duties and responsibilities under POCA 2002” In addition, they might want to consider urgent recruitment of suitably qualified and experienced personnel to join their AML and regulatory compliance teams.Online casino recipients of the Commission’s letter are being told they need to review their AML and SR policies and procedures immediately to ensure that they meet or exceed the specific requirements contained in the LCCP and the 2017 Regulations.I would very strongly recommend that online betting operators conduct a similar exercise insofar as the LCCP and the ten numbered points above are concerned. If they fail to do so, they will be running the risk of receiving a similar letter from the Commission before too much longer or, even worse, facing a formal investigation and enforcement action of the type recently suffered by Gala Interactive, who were made subject to an overall penalty package of £2.3 million in November last year.Picking up on recommendations within the Commission’s letter to remote casino operators, this exercise can be accomplished by:conducting appropriate assessments of the risks of money laundering and terrorist financing for your business, and implementing policies, procedures and controls that manage the identified risks effectively,ensuring that both your KYC measures (in the case of casinos, specifically for customer due diligence and enhanced customer due diligence pursuant to the requirements of the 2017 Regulations) and the ongoing monitoring of customers are sufficiently risk-focused, including better risk profiling of customers,ensuring that you are able to adequately evidence customer interactions,providing your staff with appropriate training to ensure that they are aware of the law relating to money laundering and terrorist financing and how to recognise and deal with transactions, activities or situations that may be related to money laundering or terrorist financing, andensuring that your policies and procedures contain provision for (a) making use of all relevant sources of information where you have concerns that a customer’s behaviour may indicate problem gambling and (b) putting those policies and procedures into effect.I had hoped that my first 2018 article for SBC News might have carried a more positive message for the New Year, but I regret to say that I now think it more likely than ever that this year will see the first operating licence and PML revocations for AML and associated SR failings.That would be consistent with statements by the Commission in its 2018-2021 strategy document “Making gambling fairer and safer”, unveiled in November 2017, that it will “take firm action against businesses which do not uphold the standard we expect and persistently or systematically fail their customers” and, in so doing, will use its regulatory powers “to the full, reflecting Parliament’s intention”.I am afraid that this latest development comes as little surprise to me, having advised a number of clients who have been the subject of the Commission’s recent thematic review of the remote casino sector. It was that review that has resulted in the letter being sent to all online casino operators and has prompted Sarah Harrison to say:“It is vital that the gambling industry takes its duty to protect consumers and keep crime out of gambling seriously. The Gambling Commission’s new strategy sets out our vision for a fairer and safer gambling market. The action we are taking to examine online casino operators’ compliance with money laundering and customer interaction requirements is just one example of how we will be relentless in turning that vision into reality” and“As the online sector continues to grow, and now accounts for a third of the British gambling market, it is right that we maintain a sharp focus on online gambling. That is why in addition to our work on compliance among online casino operators, we have also been conducting a wider-ranging review of online gambling looking at how the market has evolved and to identify where further action can be taken to make gambling fairer and safer for consumers.” To anyone worried about their situation, whether they are a recipient of the Gambling Commission’s letter or otherwise, I would add that this area of work has become a central focus of our expertise in the last three years, during which time we have (a) successfully represented clients who have been the subject of Gambling Commission investigations, (b) conducted independent reviews of operators’ AML and associated SR controls, (c) worked with one of the industry’s trade bodies in drafting AML Best Practice Guidelines for the sector in question and (d) spoken on these subjects at SBC events and numerous other gambling industry conferences. We will be pleased to assist any operators seeking to raise their standards in any of the respects mentioned in this article, who can contact me at dc@cliftondavies.com______________David Clifton – Director – ‎Clifton Davies Consultancy LimitedThe Betting industry’s regulatory agenda and current context will be discussed at the upcoming ‘Betting of Football Conference’ (#bofcon – Stamford Bridge London -20-23 March 2018). Click on the below banner for more information Submit Share StumbleUponlast_img read more

Winning Post – Industry feels impact of parliament turbulence

first_img Share Perhaps the most ironic aspect of this week’s political shambles is that (as Nils Pratley observed astutely in the Guardian this week) it has happened in spite of what a number of the UK industry’s major operators have been working towards. It is a mark of how far we have come that some of the biggest figures in the industry today – Sky Betting & Gaming’s Richard Flint, Paddy Power Betfair’s Peter Jackson, GVC’s Kenny Alexander and William Hill’s Philip Bowcock – are now amongst the leading champions of the need for reform. Winning Post: UK gambling feels the ‘Noyes’ with SMF report August 10, 2020 Share The Deputy Leader of the Labour Party, Tom Watson staged the most colourful of these sideshows. The Honourable Member for West Bromwich East had got wind of a meeting between the Culture Secretary, Jeremy Wright (Cons, ) and two of Parliament’s keenest race-goers, Philip Davies (Cons, Shipley) and Laurence Robertson (Cons, Tewkesbury) on 10th October this year. Smelling a rat, Watson got on the case, submitting a slew of Parliamentary Questions (answered by Wright on this occasion with rare alacrity). Sir David Evenett (Cons, Bexleyheath and Crayford) put in a brief a cameo by quizzing what DCMS was doing “to support people with a gambling addiction” while at the same time asking the Department of Health and Social Care what assessment it had made of NHS effectiveness in helping such people. Evenett held the sports (and gambling) brief for a period in 2016 while Tracey Crouch (Cons, Chatham and Aylesford) was on maternity leave and since his return to the back benches has been one of the more engaged members of his party on matters of gambling policy. His brush with the gambling industry appears to have left its mark. The folly of the British gambling lobby was laid painfully bare in Westminster this week. Against the backdrop of the United Kingdom’s greatest constitutional change in almost half-a-century and perhaps the greatest era of uncertainty since the Second World War, the gambling industry’s contribution has been entirely negative. Cross-party think-tank calls for £100 monthly limit on gambling August 5, 2020 Regulus Partners, the strategic consultancy focused on international gambling and related industries, takes a look at some key developments for the gambling industry in its ‘Winning Post’ column.UK: Politics – What did you do during the Brexit? Related Articles In the short-term, companies need to be on their guard for aftershocks (as happened in the 2007 to 2009 era). At the same time, our industry needs to earn its right to be taken seriously again and this calls for the recognition that more lobbying or that old canard, “better PR” emphatically is not the answer. Equally importantly, exporting bad commercial gambling management in the hope driving geographic diversity (or swerving stricter governance) of has also proved an abject failure – with the list of international backlashes growing and not a few of them triggered by UK-centric and/or .com businesses (it is worth considering the impact of all this international noise and regulatory tightening on more moderate German Minister Presidents, for example). Meanwhile, the remote industry will be on notice that the bookie-bashing Bishop of St Albans, the Rt Rev Alan Smith has now set his sights on “current rules governing the taxation of offshore gambling businesses used by citizens of the UK”, which is presumably aimed at input VAT exemptions enjoyed by many (but certainly not all) remote operators. That particular debate is set for 27th November. Despite the best efforts of the industry’s CEO peace-makers, the current conflict that gambling finds itself in is unlikely to be “over by Christmas”.UK: Regulation – Nothing to Fear but Fear ItselfBritain’s gambling industry felt the long arm of Gambling Commission enforcement this week as one operator was “spanked” (to use the current parlance) and an entire sector was shamed. Market share continues to demonstrate the locational advantage of Meadowlands (39% landbased share) and the first mover advantage of DraftKings (taking the vast majority of 60% digital share, along with BetStars).  While the former is likely to be sustainable for as long as New York does not offer sports betting (and bet365 has positioned itself in that potential market this week with Empire Resorts), the latter is already slipping materially (by 7ppts, with DK market share likely to be lower due to BS gains), and is likely to continue to do so as new supply comes onstream and harder gamblers (likely to be the vast majority of the current online market) test more sites.Italy: gambling reputation – Mafia thriving in ‘regulated’ gambling jurisdictions?Italian police have arrested 68 people and seized c. €1bn of assets across 12 counties in closing down an illegal gambling ring running parallel to online and landbased CTD operations. While there was an (almost inevitable) connection with Malta, the MGA seems to have been a key agent in the bust and relations with the Italian authorities seem more cooperative than confrontational this time (extensive links were also reportedly found to Curacao). However, generally compliant POS online and agent-led gambling businesses have attempted for some time to lobby that their businesses are completely unsuitable for organised crime and money laundering, which evidence such as this (and elsewhere globally) rather challenges (especially to politicians not looking for nuance).Keeping crime out of gambling is typically licensing objective number one for most authorities (it certainly wouldn’t be fair or safe otherwise) and is often the genesis of gambling legislation and regulation. In this sense, light touch and porous regimes can be the worst enemy of legitimate sector stakeholders due to the levels of political backlash they can invite when serial abuses are discovered. As with safer gambling, the old .com (or lightly regulated domestic) lobbying approach of ‘there is no problem to solve here’ will no longer cut it for increasingly savvy regulators and law enforcement, as well as increasingly nervous and impatient politicians…Switzerland: online gaming regulation – magpies will have to become cuckoos… Switzerland is on track to provide a POC gaming market only for landbased casinos from January 2019, after passing the required secondary regulation. While the regulatory framework may provide some opportunities for online businesses as online partners for Switzerland’s 21 casinos (€600m revenue), the legislative change will almost certainly be severely disruptive for a large number of DACH-facing .com operators (especially if there is evidence that Swiss players have been targeted directly, which will fall foul of a bad actor clause similar to the Netherlands approach), with the Swiss gaming market likely worth c. €160m when the legislation comes into force. Rather like with Australia, compliance is likely to be patchy (especially initially), but most operators (and suppliers) serious about regulation are likely to have to stop supporting the .com market from next year. With US hype especially (but not solely) forcing an increasing number of operators to observe laws they might not like or agree with (or operationally feel they can get around), Switzerland represents another example of .com market sustainability being threatened. Grey market revenue might be high margin and entirely legitimate (while it, and its supply chain is truly just grey), but it is a revenue stream which is being increasingly threatened not only on its own terms but as a stark choice between money now or an entry ticket into regulated markets with a far less certain financial return.   Global: M&A Watch – summaryGreektown Casino Hotel in Detroit has been sold to VICI Properties and Penn National Gaming for US$1bn. VICI acquires the land and buildings for US$700m and Penn acquires the casino operating assets for US$300mVereeni Investments and RB Capital are to acquire 20% in HD digital casino and slots developer Kalamba Games In stark contrast to the situation just three years ago, most of our industry leaders now seem to ‘get it’. Unfortunately, this age of enlightenment was preceded by a rather different era in which Gambling Inc’s leaders sent forth a legion of lobbyists – some of whom carried on fighting once the retreat had been sounded – and that damage is still being done. Indeed, the current shambles is worse than the super casino debacle of 2005 to 2007 (which we had thought was the mess to end all gambling messes) because it infects the industry at large rather than just a single sector (whatever distance various sub-sectors believe sits between them and FOBTs – nuances most commentators are uninterested in, especially given the level of petty infighting, childish lobbying and truth-stretching involved). Submit Stride Gaming copped to a £7.1m fine from the Gambling Commission for failings in its anti-money laundering and social responsibility duties. The company had indicated that they might take the fight to the Commission but ultimately appear to have decided that it was not worth the risk.center_img The pressure group, Gambling with Lives (set up by the bereaved parents of young men with gambling problems who took their own lives) held its official Parliamentary launch on Tuesday. The Suicide Prevention Minister, Jackie Doyle-Price delivered a speech at the event which was also attended by a number of prominent Conservatives, including former party Leader, Iain Duncan Smith, Tracey Crouch, Philip Davies and Lord Chadlington (in addition to MPs from other parties such as Tom Watson). The rise of the gambling concern lobby within the Tory party – and their focus on severe harms – is perhaps the most alarming development for the industry at large in recent years. Elsewhere, there were additional Parliamentary Questions (now presumably redundant) on FOBTs as well as continuing pressure from Ben Bradley (Lab, Oldham and Royton) on the timing of society lottery reform. The Culture Secretary admitted that the question of stake reduction on FOBTs had been discussed at the meeting and stressed that “appropriate arrangements” had been in place to ensure fair play. Wright refused to divulge further details from the meeting, which probably suited Watson just fine; the intimation of shady dealings with the betting industry was enough for now. Winning Post: Swedish regulator pushes back on ‘Storebror’ approach to deposit limits August 24, 2020 Stride’s public announcement contained elements of contrition but also a feistiness that we have not seen expressed so publicly of late. The company indicated that, in its view, the penalty was disproportionate (having in mind a £4m themselves) as the failings were procedural in nature with no evidence of actual harm arising. Having created the circumstances that led last week to the resignation of Tracey Crouch as Minister for Sport and Civil Society (thus losing the most conscientious and engaged sponsor minister we have had in recent times), this week it was the industry’s honour to lead the Government into an embarrassing (if painfully predictable) climbdown rather than face defeat over the Finance Bill. While it is important to the functioning of the market that enforcement is robust, it is also critical that the regulator is perceived to be fair (something that the Commission’s CEO, Neil McArthur stressed at last week’s Raising Standards conference). Stride has given voice to a concern shared more widely (in private) by licensees – companies are afraid of challenging their regulator even when they think that events stray to the rough side of justice. This is a worrying (and fairly recent) development and one that needs to be nixed sooner rather than later. The net result is that stake reduction on machines in licensed betting offices will at last take effect in April next year – with remote gaming duty increasing from 15% to 21% at the same time. The gambling lobby has thus successfully brought the political standing of the industry to a new low for modern times; and all for nothing. In so doing, it has set back gambling’s political engagement (not great at the best of times) by years, undermining the potential for any positive reform (which ironically, LBOs need more than most) and increasing the threat level of future interventions, in our view. This low has no doubt been reinforced by Crouch’s ‘alternative facts’ on suicide turning into a tragic reality for one FOBT player who reportedly lost more than £25k in one night before taking his own life – though after playing the machine in a casino, not a betting shop. The pubs sector lobbied for machine enhancements in the last triennial review and certain operators have been fiercely critical of machine play in betting shops. While pub operators are not licensees themselves, the Commission’s review suggests that now might be a good time for critical self-examination.US: sportsbetting – back to the new normalOctober’s sports betting data demonstrated a continuation of handle momentum, up 41% to US$261m, but with settled gross margins ‘normalising’ to materially below long-term run rates from September’s highs (to 3.2%), leading to an 56% MoM decline in settled revenue to US$8.3m (as well as a substantial drop in handle futures mix to 0.4% now that the sports season is in full swing). Implied run-rate online annual revenue is therefore c. US$100m (on normalised margins). This should not surprise, but should pull back some of the more bullish Year 1 expectations being generated off the back of supernormal September results; with margin swings mattering far more to short-term performance even than basketball coming onstream. Across geographies and subsectors, this is a time to put aside petty grievances and narrow interest in favour of the greater good. As we wrote last week, it is a time to stop whining and to ask not what the country can do for us but what we can do for the country – which ever country gambling operators hope to build a sustainable future in. The alternative –  as British bookmakers and a material number of other narrow-minded, mudslinging subsectors have just shown – is to ruin the chances for positive reform for all stakeholders for the foreseeable future… StumbleUpon Elsewhere, the pubs sector was roundly (and rightly if reports are correct) lambasted for shocking failures on age verification for the play of Cat C machines. The Gambling Commission reported an 89% failure rate on test purchasing for machines play in pubs. With the Statutory Instrument to reduce maximum stakes on FOBTs expected next week, we may expect further criticism of Government policy on gambling and more industry disparagement. UK: in Parliament – All the Fun of the FairOutside the ‘big top’ event of the Government’s embarrassing climb-down on FOBTs, there was a range of smaller amusements for gambling in Westminster this week that signal just how far-reaching the industry’s political travails have now become.last_img read more

Digital growth sees GVC post ‘excellent start’ to 2019 trading

first_img FTSE100 gambling group GVC Holdings reports an ‘excellent start to the year’, publishing its pro-forma trading update for Q1 2019 (period ending 31-March), as the company now enters a crucial adjustment period for all UK gambling incumbents.Updating the market, GVC governance reports a strong volume of growth across all major territories, driven by the firm’s online gambling assets, as GVC reports an 8% group net-revenue increase.Publishing a snapshot of its performance, the FTSE operator reports a 16% NGR increase in sports betting, led by a 19% increase in sports wagers.Online growth is further supported by the strong performance of its gaming division recording an NGR increase of 20%.Reporting on its UK retail assets, GVC Holdings records flat wagering and NGR across its estates, whilst the firm’s European retail division reports a 2% NGR increase.Updating the market, GVC Holdings Group CEO Kenneth Alexander (CEO) said:“This trading update reflects a continuation of the strong trends reported on 5 March 2019, and represents an excellent start to the year. We continue to see good volume growth across all major online brands and territories and we remain very confident of achieving our target of double-digit online NGR growth. The impact of soft gross win margins in Italy and the UK was offset by improved margins in other territories, demonstrating the benefit of both geographic and product diversification across the Group.“In UK Retail and European Retail, improved sports wagering growth helped offset softer sports gross win margins. New B2 machines stakes restrictions were implemented in the UK on 1 April 2019 and we expect it to be several weeks before we can start to assess the impact. At this early stage of the year, the Board is confident of delivering EBITDA and operating profit in-line with expectations” Related Articles Martin Lycka – Regulatory high temperatures cancel industry’s ‘silly season’ August 11, 2020 Share GVC hires ‘comms pro’ Tessa Curtis to re-energise media profile  August 25, 2020 Submit GVC absorbs retail shocks as business recalibrates for critical H2 trading August 13, 2020 Share StumbleUponlast_img read more

Golden Race launches La Libertadores virtual football cup

first_img Golden Race gains ISO certification May 29, 2020 Share Share StumbleUpon The industry wakes up to virtual sports potential June 26, 2020 Related Articles Golden Race’s virtual sports products get Swedish certification June 18, 2020 Submit Golden Race has confirmed the launch of La Libertadores, a new tournament for its virtual football product based on the most popular Latin American cup competition. It is now available for both retail shops and online operators.“We are delighted to present this ground-breaking product, which realistically represents the most popular club tournament in Latin America,” said Javier Cicciomessere, Golden Race Sales Director for Spain and Latin America.Added to the company’s existing suite of international tournaments, which already includes Euro Champions and the World Cup, La Libertadores features a group phase for all 32 competing clubs and a knockout phase for the final 16, presented with the most realistic odds based on real rankings.“Our clients will now have the chance to offer this exciting tournament, inspired in a cup that gathered almost 3.5 million passionate spectators in the stadiums last year and it’s being transmitted to 400 million avid football fans in 2019 worldwide, ” added Cicciomessere. 20 betting markets are offered to players, selected from a mix of those most popular in the league and cup formats, including 1×2, correct score, qualify and outright markets. Alongside a panel design displaying the most played markets for longer, as well as key stats presented before the matches, players can also watch four and two matches simultaneously on a split screen (for quarter and semi-finals), and place quick combo bets through auto-selecting four types of frequent combination bets.“At Golden Race, we are constantly studying our clients’ needs and developing up-to-date products to help them increase their revenues,” Cicciomessere concluded. “This tournament follows the line of adding great value to our remarkable virtual sports portfolio, while customising it according to most players’ tastes in different regions.”last_img read more

Virtual Grand National success sees bookmakers donate over £2.6m to NHS Charities

first_img Share Submit UK gambling adopts toughest online advertising code to protect underage audiences August 27, 2020 StumbleUpon Related Articles Share The Betting and Gaming Council (BGC) has revealed that this weekend’s ‘Virtual Grand National’ (Saturday 4 April) raised ‘over £2.6 million’ in donations for NHS charities.The BGC said the event to replace UK racing’s marquee meeting was as an ‘unbridled success’, and was left delighted with the level of public engagement which saw a reported 4.8 million viewers tune-in to ITV Racing’s Saturday afternoon broadcast of the virtual race.The race was won by 18/1 outsider Potters Corner, with all BGC bookmaker members supporting the initiative by donating market wagering profits to ‘NHS Charities Together’ – the NHS’ fundraising arm representing over 140 UK healthcare related charities.The BGC was also pleased to announce that profits from bets placed in Ireland will be donated to the Irish charities and the Red Cross.BGC Chief Executive Michael Dugher said: “I am proud that so many BGC members, up and down the country, are supporting in so many different ways the national effort to combat COVID-19, including here by contributing all of their race profits to NHS Charities Together.”“NHS Charities Together thanked the BGC yesterday but I’d like to thank them for the amazing work that they do in support of the NHS all year round.“When the nation was in much need of some light relief, millions joined in the fun in honour of one of Britain’s greatest sporting events and helped raise a fantastic amount for our brave heroes in the NHS.“The country is going through what is little short of a nightmare at the moment, so it was heart-warming to see pictures on social media of so many people enjoying themselves watching the excellent ITV Racing and Carm Productions programme which had such impressive viewing figures.” ASA monitoring sweep marks gambling as the worst underage advertising offender August 26, 2020 Betfred counters Oppenheimer bid in race to rescue Phumelela August 26, 2020last_img read more