Every week, CasinoBeats presents the numbers behind some of the industry’s most fascinating stories. Our latest round of headlines features a reprimand from the Advertising Standards Authority, financial reports from France and the Netherlands, 888 difficulties and Flutter Entertainment’s latest M&A maneuver.
141
Flutter Entertainment aims to “replicate the success” achieved in many jurisdictions after once again dipping its toes into the M&A sector to buy 51 per cent of Maximum bet for €141m (£123m).
Peter Jackson, the group’s chief executive, noted that this represented a “compelling opportunity” to deepen its presence in the Balkans. The operator will aim to build on past initiatives taken in Georgia, India and Italy through the acquisition of Adjarabet, Jungle And Sisal.
Flutter will have the opportunity to acquire the remaining 49% in 2029, and this first transaction is expected to be completed, subject to customary regulatory approvals, in the first quarter of 2024.
MaxBet, described as a “local hero,” spans omnichannel operations in Serbia, Bosnia and Montenegro, in addition to a retail-only presence in North Macedonia.
1,800
THE UK Gambling Commissionthe executive director of, Tim Millerlast week outlined the topics that will be covered in the next round of consultations for the UK Gambling White Paper.
Speaking at the gambling regulation conference, he note that the UKGC was satisfied with the response it had received from gaming stakeholders regarding its first tranche of consultations.
Remaining open until October 18, the commission has so far received more than 1,800 responses for its consultations on age verification in premises; remove features that increase the intensity of play on online casino games other than slot machines; cross-selling, specifically giving the consumer greater direct marketing power; and financial risk and vulnerability controls.
Looking ahead, Miller noted that the next round of consultations, expected to begin in early winter, will focus on socially responsible incentives and tools for managing gambling.
9
Lotteritilsynetthe Norwegian Gambling Authority, will carry out compliance monitoring of nine banks to check whether they allow payments to and from illegal operators.
Article five of the Norwegian Gambling Act prohibits payment transactions with gambling operators who are not licensed in the country. The authority stressed that it has the right to order banks to reject transactions to and from specific accounts and companies.
The nine banks being observed by Lotteritilsynet were not specified, but the monitoring is part of the authority’s enforcement of the ban to help reduce problem gambling in the country.
3
To entertain said trading in the third quarter was “softer than expected” as the gambling group reaffirmed its FY2023 EBITDA forecast of £1 billion to £1.05 billion.
Citing mixed results across operations, the group presented its action plan to “accelerate strategy and operational performance”, including a comprehensive market analysis and simplification of group structures and operations, as well as migration activities acquired towards its technological platform.
Leadership noted that online gaming net revenues had been “mixed across the group, but overall, weaker than expected”, with online NGR growth expected to be up by a high single-digit percentage , but down by a high single-digit percentage compared to forecasts. pro forma basis.
25
THE Advertising Standards Authority recalled XLMedia of its responsibilities in terms of advertising rules after the group’s decision Free bets.com portal featured Manchester United footballer Mason Mount.
Two complainants challenged whether the ad breached the CAP code after an Instagram post observed on July 11 and 12, 2023, featuring the former Chelsea midfielder, aged under 25.
Following the lack of response to the complaint, the ASA denounced an “apparent disregard of the code”, and reiterated the need to respond quickly to inquiries and urged the company to do so in the future.
400
888 encountered a series of headwinds regarding the group’s online production during the third quarter of the year, with executive chairman Lord Mendelsohn calling the period “below our expectations”.
Despite the stated confidence in the group’s long-term strategy, led by incoming CEO By WiderströmA knock-on effect of the third quarter’s performance will be that full-year profits will also not live up to past forecasts.
The operator noted that “significant and continued improvements” in its sustainability and overall quality mix are weighing heavily on its near-term performance. However, it would also have led to double-digit growth in active customers.
As a result, the company’s performance in the third quarter of the year is now expected to fall by around 10 percentage points to £400 million.
2
Best collective declared that a double registration on the Nasdaq Copenhagen represents a logical and natural next step for the company in promoting greater visibility and brand awareness.
The company, founded and incorporated in Denmark and listed on the Nasdaq Stockholm on June 8, 2018, its listing is expected to take place during the last quarter of the year.
No offer of shares will take place under the proposed dual listing, it is also noted that this will have no impact on the total number of shares outstanding in the company.
5.3
The French gaming authority National Gaming Authority announced that overall gaming revenue in the first half of 2023 increased by 4 percent compared to the previous year.
Excluding casinos, gambling turnover for the first half of 2023, it amounted to 5.3 billion euros, mainly driven by the growth of poker and online sports betting.
There Lotery And Pari Mutuel Urbain the operations represented 78 percent of the total turnover of the French market for the first half of the year, or 4.2 billion euros, with the remaining 22 percent coming from other approved operators.
405.3
Casino Holland welcomed the continued recovery from the well-publicized struggles of recent years, but increased competition, inflation and high energy prices continue to put pressure on the company.
Despite an increase in turnover of €405.3 million (2022: €353.4 million) and a turnover before corporate tax of €17.2 million (2022: €8.2 million) as of During the first half of 2023, the operator was quick to recognize that it is “far from being out of the woods”.
During the six-month period in question, the group welcomed around 2.5 million visitors (2022: 1.8 million), but the average spend per visit fell to €138 (2022: €148). This amount is, however, higher than the €117 recorded before the arrival of the coronavirus pandemic and the restrictions linked to it.
As previously mentioned, Holland Casino cited rising energy prices and inflation as “significantly” affecting its results during the reporting period. An “additional burden” also arises from COVID-19-related tax debt that must be repaid and deferred investments that must be made.
3
New South Wales has invited technology providers and land-based venues to apply for cashless gaming trials to help inform a future regulatory framework.
Each should last at least three months to ensure there is sufficient data to address key areas, with the impact of these technologies to be identified, monitored and evaluated by an independent researcher.
In releasing its latest update regarding the state’s ambitions for cashless gaming, Liquor and Gaming NSW also revealed three key areas that every solution should seek to address.
750
Australian company Star Entertainment has confirmed a global refinancing and capital restructuring initiative, in addition to ruling out the possibility of further asset sales.
The troubled casino operator, one of three that have faced a raft of regulatory hurdles, is raising A$750 million. This will include A$589 million via an accelerated, non-forfeitable 1:1.65 pro rata share offering and an A$161 million institutional placement.
In addition, the company also confirmed new A$450 million credit facilities provided by Barclays and Westpac, consisting of a four-year A$150 million revolving credit facility and an underwritten term loan of 300 million Australian dollars over four years.
As a result, Star will have all its existing debts repaid and canceled, no debt will mature until the second half of 2027, a “more flexible set of commitments” to support ongoing operations and financing needs and retain its operations current.