Latest Gambling News
New Frontiers: European Operator LeoVegas to Launch Online Casino in New Jersey
May 19, 2021 • 3 min read
Duel of the Fates: FanDuel CEO Matt King Leaves Role, Parent Company Flutter Delays Stock Flotation
May 19, 2021 • 2 min read
Hit It: New World Record Online Slot Jackpot as Belgian Man Wins €19.4 Million ($23.438 Million) Prize
May 19, 2021 • 3 min read
Financial / Caesars to Sell up UK Division of William Hill
Globally operating UK-based bookmaker William Hill is to see all of its operations outside the US auctioned off by its new owner, Caesars Entertainment. The giant US land-based and online casino operator Caesars only recently bought out the entire William Hill business after fending off a late lawsuit from hedge fund shareholders in the British …
Financial / Vidi, Vici: Caesars Stock Rising Despite Q1 2021 Loss After William Hill Acquisition
US casino and online betting giant Caesars has posted its first quarterly financial report of 2021, and it shows it made a loss of $423 million over the first three months of the year. That’s despite revenues increasing threefold on last year’s figure, from $473 million to $1.7 billion. However, the market was clearly still …
Financial / Flutter Reports Impressive Revenue Growth in Q1 2021 Report
Irish-based betting conglomerate Flutter is one of the world’s biggest online gambling companies. So far this year, it seems it’s only getting bigger, with its Q1 2021 report showing a strong growth rate on revenue figures from the same time last year. The owner of Betfair, Paddy Power, PokerStars, and more reported £1.485 billion ($2.069 …
Mergers & Acquisitions / Tabbed Up: Entain Makes Improved $2.7 Billion Offer for Australian Bookmaker Tabcorp
British betting giant Entain, formerly GVC Holdings, has this week renewed its interest in acquiring Australian bookmaker Tabcorp with an AU$3.5 billion (US$2.7 billion) offer. Ladbrokes and BetMGM operator Entain previously bid AU$3 billion ($2.324 billion) back in February. Rumors and company insiders had suggested that Tabcorp’s initial rejection had led to Entain cooling on …
Mergers & Acquisitions / Check the Price: Flutter to Sell Affiliate and Odds Comparison Site Oddschecker
Flutter Entertainment, the owner of Paddy Power and Betfair and one of the world’s biggest gambling companies, is looking to sell its offshoot business Oddschecker, Sky News reports. The UK broadcaster cites inside sources in the company. They claim that Flutter has employed the services of New York-based investment bank Moelis and Company to broker …
News
Chinese Police Bust $10 Million Cryptocurrency Gambling Operation – 15 Arrested
April 26, 2021 • 3 min read
Police in the north-eastern Chinese city of Yancheng have shut down a $10 million per-annum cryptocurrency-powered online casino. Fifteen people across the country were arrested, reports local news outlet Toutiao. The online casino, called Biggame, ran on the blockchain network EOS. EOS was hotly tipped to be one of the biggest cryptocurrencies a few years …
A Bet too Hard: Swedish Soccer Star Ibrahimovic Faces Ban after Gambling Investments
April 20, 2021 • 3 min read
Legendary Swedish soccer player Zlatan Ibrahimovic may have run afoul of FIFA (soccer’s global governing body) rules on gambling investments for players in their international tournaments, reports Swedish newspaper Aftonbladet. The six-foot-five and highly outspoken forward is one of the most recognizable faces in world soccer. That recognition seems to have put his international soccer …
Rapidly Evolving: Sweden’s Evolution to Buy Out Big Time Gaming for $530 million
April 20, 2021 • 2 min read
Swedish-based live casino and slots provider Evolution have agreed on a deal to buy out one of the world’s most innovative online slots developers, Australia’s Big Time Gaming. The €450 million-euro ($532 million) deal will see Evolution take over all of the Aussie developer’s operations. Big Time Gaming is known for developing the popular MegaWays …
UK Online Casino Operator Betfred Loses £1.5 Million Court Fight Over Former Customer’s Winnings
April 13, 2021 • 3 min read
UK gambler Andrew Green, 54, has finally won his 3-year court case against online casino operator Betfred and its owner, Gibraltar-based Petfre. Betfred is now required to pay Mr. Green the £1.5 million ($2,057,000) he won back in 2018, plus £500,000 ($685,000) in interest and compensation payments. Mr. Green won the prize that made him …
Back Underground: London Mayor Sadiq Khan Promises to Ban Gambling Adverts on Famous Tube Network
April 13, 2021 • 3 min read
London Mayor Sadiq Khan has told voters he would ban gambling advertising on the city’s iconic London Underground network if re-elected as Mayor. The incumbent Labour party politician is currently leading in most polls against his biggest rival, Conservative candidate Shaun Bailey, ahead of the election next month. Among the other challengers in the Mayoral …
That’s Entainment: Ladbrokes Owner Entain Posts Positive 2020 Report
April 13, 2021 • 3 min read
Ladbrokes Coral and BetMGM owner Entain, rebranded last year from GVC Holdings, has released its 2020 earnings report – and it looks good for the British conglomerate. Entain saw company-wide profits rise to £530 million ($728,137,850) during 2020, up 2% on the previous year’s figure. Total revenue increased by even more. In what was one of the world’s …
A Hill to Climb: Two Hedge Fund Investors to Dispute Caesars’ William Hill Takeover
April 6, 2021 • 3 min read
Billion-dollar-plus hedge funds GWM Asset Management and HBK Capital Management sent a letter to William Hill’s board with the aim of torpedoing the £2.9 billion (almost $4 billion) takeover bid from US casino giant Caesars. We first reported on a potential merger between UK gambling giant William Hill and US casino mainstay Caesars back in September …
Level Playing: Dutch Regulator Targets 35 Licenses for Legal Market Opening Later This Year
March 30, 2021 • 3 min read
The Netherlands’ gambling regulator, Kansspelautoriteit (KSA), has announced that it expects to issue around 35 licenses before its long-delayed legal market opens later this year. The new regulation, setting the framework for a completely legal market in the country, came into force this month. The regulator will start assessing license applications from April 1, 2021, with …
