Jeremy Hunt defends role in clearing News Corp bid

Jeremy Hunt defends role in clearing News Corp bid

first_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comConnecticut man dies after crashing Harley into live bearnypost.com whatsapp JEREMY Hunt, the culture secretary, was yesterday forced to defend his role in News Corp’s bid for BSkyB, after an alliance of media companies accused him of acting in an “unprecedented manner”.The alliance, which is made up of BSkyB and News Corp rivals like BT and the Telegraph Media Group, said the culture secretary was wrong not to refer the issue to the competition commission. Hunt decided not to refer the bid after News Corp offered to spin Sky News off into an independent, publicly-listed company.Yesterday Hunt dismissed suggestions he had waved the bid through to ensure Murdoch’s newspapers support the Tories at the next election as “conspiracy theories”.He added: “When James Murdoch came forward with his proposal to hive off Sky News, I did something that I didn’t have to do. I asked for independent advice not from one regulator but from two.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Sunday 13 March 2011 10:17 pm whatsappcenter_img Show Comments ▼ KCS-content Share Jeremy Hunt defends role in clearing News Corp bid Tags: NULLlast_img read more

Wi-fi to be installed at tube stations by Olympics

first_imgFriday 25 March 2011 11:24 am Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Share Commuters will be able to check emails on the Tube by the start of the London Olympics. Transport for London (TFL) said a successful trial at Charing Cross meant wi-fi coverage wouldeventually be installed on the whole Underground network. London Mayor Boris Johnson said: “Wi-fi technology will allow Londoners to use mobile devices to pick up emails, access social media sites and traverse with the world above.”As well as helping commuters, wi-fi is a future source of revenue for London Underground.A contract will be given to the chosen bidder by the end of this year. Wi-fi to be installed at tube stations by Olympics Tags: NULL Telecoms companies will now bid to set up the network with 120 stations to be ready for wi-fi by June 2012, with front-runners likely to be major UK telecoms companies 02, Orange, T-Mobile and Vodafone.Orange said it and and the other three companies were all in discussions with London Underground.“The four network operators are working together,” an Orange spokesperson said.“The mobile phone companies remain in discussions to explore mobile phone services for the London Underground in time for the Olympics.” 02 also said it was in talks with TFL but would not comment further on the wi-fi network as it said it was “commercially confidential”.The Charing Cross project was carried out by BT Openzone. Technology to allow mobile phones on the Underground is also being investigated. Staff at 16 stations currently use wi-fi and it is this service that will be provided for passengers.center_img John Dunne by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Show Comments ▼ whatsapp whatsapplast_img read more

Actelion wins proxy support

first_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTriviaBoss.comCan You Pass This 60s TV Quiz?TriviaBoss.comTips and TricksThanks to This Ingenious Trick With Boiling Water You Can Do This for Your CarTips and TricksPensAndPatronPrince Charles Finally Reveals His Thoughts On Marrying Princess DianaPensAndPatronVikings: Free Online GamePlay this for 1 minute and see why everyone is addictedVikings: Free Online GameHabit TribeGerald McRaney Is Happily Married To This PersonHabit TribeWalk In Tubs | Search AdsWalk-In Bathtubs Could Be The New Bathroom Trend Of 2021Walk In Tubs | Search AdsTheFashionBallPrince Harry Has Changed His Mind About Meghan MarkleTheFashionBallHealth.recetasget10 Disturbing Things Your Nails Reveal About Your HealthHealth.recetasgetBeach RaiderShe Posted This Photo Online, Her Boss Sees It and Gives Her an UltimatumBeach Raider Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Show Comments ▼ Tuesday 19 April 2011 8:55 pm Share center_img ACTELION won new support against rebel investor Elliott Advisors yesterday as voting agency IVOX and Swiss investor representative Ethos Foundation backed its board.IVOX and Ethos separately advised members to reject Elliott’s bid to change seven board members for six of its own choice, and vote for Actelion’s plan to add Jean-Pierre Garnier and Robert Bertolini to the board. Ethos said it was “in the long-term interests of all the company’s stakeholders.” Actelion wins proxy support whatsapp KCS-content whatsapplast_img read more

Albania passes law to ban online gambling

first_imgLegal & compliance Albania passes law to ban online gambling Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter 26th October 2018 | By contenteditor Regions: Europe Baltics Albania Email Address All gaming to be prohibited from December 31 after unanimous vote Topics: Legal & compliance Albania’s parliament today (Wednesday) passed laws that will ban online betting and prohibit other forms of gambling from the end of this year.The ban will come into force from January 1 and comes after a government crusade aimed at tackling addiction, reducing the threat of match fixing in sport and protecting household finances.The legislation will force the closure of slot machine parlours and betting shops in residential areas. After December 31 gaming operations will be restricted to designated tourist areas, such as a five-star hotel’s casino in capital Tirana, as well as on the outskirts of towns and cities.The national lottery will continue to operate but all online gambling sites will be outlawed, including the only current legal entity, Bastarena, which is part-owned by the brother of Prime Minister Edi Rama (pictured).Ahead of the vote, which passed unanimously, Rama, a former basketball player, said: “We are waging a frontal war with the evil entrenched deeply in our society over the years.”Rama said a special task force would be set up to shut down any online gambling sites that continue to operate in the country.“They might keep changing sites, and we’ll keep shutting them down,” he said.Representatives of sports betting companies have vowed to fight the ban and seek compensation.Rama has led a campaign against gambling in Albania since his socialist party swept to power five years ago in a landslide election victory. Within five months of his triumph, some 1,300 betting premises had undergone inspections, with many being closed down due to allegations of financial mismanagement.There had been hopes of a timely boost for operators in Albania when, in July, the government submitted plans to reduce the tax rate from 15% of gross gaming revenue to 15% of gross earnings. However, President Ilir Meta vetoed the proposal, sending it back to parliament for further consideration.Albanians reportedly spent €132m on gambling in 2017 – a 10% year-on-year increase – even though, with a population of under three million, Albania’s GDP of $12.7bn places it as one of the poorest countries in Europe.However, a report by the national audit committee said that the state had failed to collect about €395m in fines levied on operators who had failed to fulfil certain regulations between 2014 and 2016.last_img read more

Mississippi sports betting revenue plummets in October

first_img State’s coastal casinos make heavy losses from betting on football amid across-the-board decline in revenue Email Address Mississippi sports betting revenue plummets in October Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Mississippi’s sports betting market fell back to earth with a bump after a stellar showing in September, with October revenue declining sharply.Having posted revenue of $5.5m the previous month, revenue for October fell to $1.2m, due in part to the state’s coastal casinos losing heavily on football betting.Customers wagered $32.8m over the month, which represented a slight month-on-month increase in handle.The coastal casinos lost $600,798 from betting on football in October, having generated revenue of $2.9m from the sport in the previous month. Coupled with declines in revenue for the northern and central casinos, the state’s sports betting operators posted a total loss of $330,877 from the sport, which had accounted for 72% of total market revenue in September.Due to the heavy losses from football betting, Mississippi’s coastal casinos went from being the main source of revenue in the market to the smallest. Revenue from betting across all sports fell to $214,454 for the region, with growth in basketball revenue ($289,949) and baseball ($166,766) offset by the losses from football betting and a decline in revenue from parlay betting, which fell from $981,065 in September to $276,182.This allowed the state’s northern casinos to take over as the largest source of sports betting revenue. However, the monthly total of $547,047 was still down 51% month-on-month, again due to declines in revenue from betting on football and parlay wagering, with customers wagering $7.7m in the region. The state’s central sportsbooks generated revenue of $416,843, an 11% month-on-month fall, on a handle of $3.4m. Topics: Sports betting 21st November 2018 | By contenteditor Sports bettinglast_img read more

iGB Diary: Dirty protests, Lottoland’s legal win and Brexit menus

first_img Topics: Legal & compliance Lottery Sports betting iGB Diary 23rd August 2019 | By Joanne Christie iGB Diary: Dirty protests, Lottoland’s legal win and Brexit menus AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Happy Friday iGamers! This week Diary ponders the lengths Kenya’s football fans will go to, considers the knock-on impact of Lottoland’s Australian win and casts its eye over Rank’s Brexit menu. Happy Friday iGamers! This week Diary ponders the lengths Kenya’s football fans will go to, considers the knock-on impact of Lottoland’s Australian win and casts its eye over Rank’s Brexit menu.Forget milkshakes, in Kenya it’s poop It’s not just the operators who are angry about the ongoing dispute between Kenyan authorities and the country’s biggest bookmakers – consumers are becoming increasingly incensed about the situation. Gambling enthusiasts are understandably unhappy about the bizarre interpretation of the tax rules by the Kenya Revenue Authority, which now wants to take 20% of punters’ gross payouts, including their original stake. But because SportPesa sponsors the country’s Premier League and has pulled all of its sponsorships while it remains out of business, the fury has spread to the country’s numerous football fans.So much so that some have threatened a rather unusual method of protest – according to local newspapers Gor Mahia fans are reportedly plotting to defecate outside the KRA’s offices. Other angry punters have issued similarly odd warnings, with one threatening to stage a naked protest, while another said he would nail his testicle to the ground outside the office. We’re not sure we’d actually want to see photographic evidence of any of the mooted protests if they come to fruition, especially the last, but one has to admire their spirit. The British tradition of chucking milkshakes overpoliticians seems positively tame in comparison.Back to business for Lottoland There’s happier news for football (OK, we know it’s rugby but things are different Down Under) fans in Australia thanks to a legal challenge that went Lottoland’s way last week. The beleaguered operator has been on the wrong end of politicians and regulators too many times too count in Australia, so the news that it won a Supreme Court battle against the Australian Communications and Media Authority last week was surely a relief. It’s somewhat encouraging that judges in the country still base their decision-making on facts, rather than being swayed by smear campaigns promoted by those with an interest in seeing their competitors’ fail.Whether or not this is the last battle for Lottoland Down Under remains to be seen, but the company wasted no time in renewing its sponsorship of Manly Sea Eagles for another year this week. Which is just as well really, as we know Aussies can put together some pretty creative protests too. When one of the country’s biggest DIY stores last year started putting onions under sausages instead of on top in their sausage sizzles after a customer slipped on an onion, thousands arranged a protest event to throw onions on the floor and slip over at a Sydney store. Many others started posting videos online of their own mini onion-slipping protests. And that was all over sausages in bread. Imagine what they’d do at the loss of their favourite rugby team?Brexit Menu As Prime Minister Boris Johnson stampedes towards a no-deal Brexit with the same zeal that he approaches a small child with a rugby ball tucked under his arm, people are starting to prepare for the worst case scenario. The gambling industry is no different, with Rank chief executive John O’Reilly revealing the operator has drawn up a ‘Brexit menu’ for its Mecca Bingo halls in the event of no-deal. Naysayers among our readers may be miffed that it’s more a case of replacing imported prawns with British langoustines at this stage. Continental booze will also be replaced with British drinks, which thanks to the craft beer boom probably doesn’t mean Buckfast, Tennents Super and Frosty Jack’s. Probably a welcome move as the storm clouds gather, but not quite enough to stop The Diary reaching for the hard stuff.Don’t forget to vote for iGB’s Most Influential Women If you’re among the many who’ve been off on holidays during August, you may have missed the launch of our second Most Influential Women survey. If so, don’t forget to vote in this year’s survey. If you need some inspiration on who to nominate, see what last year’s winners had to say here, or consider member of the judging panel Christina Thakor-Rankin’s views on who should make the cut. That’s it for this week. See you next week!center_img iGB Diary Tags: Online Gambling Subscribe to the iGaming newsletter Email Addresslast_img read more

Betsson set to raise SEK1bn with oversubscribed bond placement

first_imgFinance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 20th September 2019 | By contenteditor Betsson set to raise SEK1bn with oversubscribed bond placement Topics: Finance Email Addresscenter_img Subscribe to the iGaming newsletter Gambling operator Betsson has placed SEK1bn (£82.3m/€93.4m/$103.3m) in senior unsecured bonds, attracting interest from a number of large institutional investors throughout the Nordic region. Tags: Online Gambling Gambling operator Betsson has placed SEK1bn (£82.3m/€93.4m/$103.3m) in senior unsecured bonds, attracting interest from a number of large institutional investors throughout the Nordic region.The bonds, placed under a framework of SEK2.5bn, have a tenor of three years and will mature on 26 September, 2022. Betsson intends to apply for listing of the bonds on the corporate bond list of Nasdaq Stockholm.Confirmation of the placement comes after Betsson earlier this month set out plans to issue a new senior unsecured bond with an expected initial minimum volume of SEK500m to support its ongoing growth and expansion strategy.“There has been a strong interest from a broad range of investors in the issue, which was heavily oversubscribed,” Betsson’s chief financial officer Martin Öhman said.“We are also happy to see that the interest from large institutional investors throughout the Nordics has been much stronger than back in 2016 when issuing our first bond. It shows that we have the market’s support in our long-term strategy.”Betsson has also announced the results of a tender offer for the holders of its outstanding senior unsecured floating rate bonds due to mature on 28 November this year and outstanding amount of SEK1bn.The operator said that the holders of these bonds have accepted the tender offer, representing a total nominal amount of SEK754m. Betsson will now complete the offer, with the price for the bonds in the offer amounting to 100.7% of the nominal amount, with settlement due to occur on 26 September.Meanwhile, Betsson has said it intends to exercise its right to make a voluntary early redemption of the bonds not being tendered in the tender offer. Bonds in the early redemption will be redeemed at a price equal to 100% of the nominal amount. Early redemption is expected to occur on 17 October.last_img read more

Losses widen at Nektan despite revenue growth in 2019

first_img Email Address Finance Tags: Online Gambling 27th January 2020 | By contenteditor Losses widen at Nektan despite revenue growth in 2019 Topics: Financecenter_img White label and gaming content provider Nektan has reported a year-on-year rise in operating losses for 2019, despite also experiencing an increase in revenue for the year.Net gaming revenue for the 12 months through to 30 June 2019 amounted to £22.6m (€27.8m/$29.6m), up by 13.5% on £19.9m in the previous year.Nektan’s primary source of revenue was its B2C division, with this segment of the business bringing in £21.6m in net gaming revenue, 10.0% more than last year.However, this contribution will all but disappear after Nektan this month sold its UK B2C business to Grace Media for £200,000 as part of a restructuring effort. Mark Phillips and Julie Swan of PCR London were appointed as joint administrators of its Nektan Gibraltar subsidiary by court order, with the pair finalising the deal.Meanwhile, Nektan, which this month was also suspended from trading in London after failing to publish its accounts before the end of 2019, saw B2B net gaming revenue grew by 308.3% to £1.0m. This comes after a decision to focus more on this area of the business.Though Nektan reported a 16.3% decline in first-time depositors to 131,128, it did note a 6.8% increase in B2C cash wagering to £597.8m.In terms of spending, total administrative expenses were up 33.9% year-on-year to £8.3m. Administrative expenses, excluding exceptional items, depreciation, amortisation and share based payment charges, jumped 26.2% to £5.3m as Nektan incurred increased costs associated with its managed services division.There was also a sharp rise in exceptional items, with spending up 273.8% to $1.5m, mainly due to a full impairment of £919,000 against the goodwill arising on its acquisition of Mfuse. There was also a full impairment of £147,000 related to investment in Respin, and a £332,000 impairment provision for amounts due from certain partners in respect of net house loss.In addition, Nektan reported a slight increase in marketing, partner and affiliate costs, with this rising 1.1% from £9.5m in 2018 to $9.6m in the past year.Higher spending meant Nektan was hit elsewhere, with operating loss for the year standing at £5.1m, up 54.6% from a loss of £3.3m last year. Adjusted earnings before interest, tax, depreciation and amortisation loss also expanded from £1.3m in 2018 to £2.0m.Loss before tax from continuing operations widened from £5.0 to £6.5m, while loss for the year from discontinued operations expanded by 47.4% from £1.9m to £2.8m. Nektan noted that the loss from discontinued operations included a loss for the period of £800,000 and a £2.0m loss resulting from the disposal of assets.The overall loss for the year increased 31.4% from £7.0m to £9.2m, with Nektan putting this down to increased trading losses, the impact of restructuring and the loss on disposal of £2.8m, compared to a loss of £1.9m from discontinued operation in 2018.Reflecting on the results, Nektan’s interim chief executive Gary Shaw highlighted how the provider was able to perform well against a “backdrop of challenging conditions in the UK B2C market”, citing growth in its B2B arm as a key factor moving forward.“Significantly, this financial year saw Nektan develop and deliver commercial opportunities in emerging international markets, which have the potential to grow our revenue, margin and profitability in the coming years,” Shaw, who took over from former CEO Lucy Buckley in August last year, said.“We believe that our proprietary technology is unique, and we continue to attract major global partners who wish to use the feature rich gaming content we have worked so hard to populate our platforms with.“By working closely with the best developers of casino games globally, we can provide our partners with engaging, socially responsible and compliant content, suitable to the geographical location of their players and the local mobile technology.“The growth in B2B we have seen during this financial year reflects the progress we have made in adding more content and providing this to a growing list of partners.”Shaw added: “With the restructuring completed we enter 2020 with a clear focus on our strategy – to deliver enhanced casino technology and gaming content into emerging international markets with leading operators. A truly global approach supporting local and international partners in new territories underpins our year ahead.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter White label and gaming content provider Nektan has reported a year-on-year rise in operating losses for 2019, despite also experiencing an increase in revenue for the year. Subscribe to the iGaming newsletterlast_img read more

Raketech acquires Lead Republik for €1.4m

first_img Subscribe to the iGaming newsletter Email Address Topics: Marketing & affiliates Strategy AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 11th March 2020 | By contenteditor Marketing & affiliatescenter_img Raketech acquires Lead Republik for €1.4m Tags: Online Gambling Online gaming performance marketing provider Raketech has completed the acquisition of data-driven igaming affiliate network Lead Republik for an initial €1.4m (£1.2m/$1.6m). Online gaming performance marketing provider Raketech has completed the acquisition of data-driven igaming affiliate network Lead Republik for €1.4m (£1.2m/$1.6m).The purchase price represents a multiple of approximately three times Lead Republik’s earnings before interest, tax, depreciation and amortisation for the past 12 months, as well as half of revenue over the last year.The acquisition deal, which will see Lead Republik’s staff join Raketech, also comes with additional earn-out payments based on a number of performance measures. Part of this earn-out, based on performance to 28 February 2021, is capped at €0.3m, while a further earn-out based on future perfromance to the same date in 2022 is not subject to any restrictions.Registered in Malta, Lead Republik draws most of its revenue from Canada, New Zealand and Germany. As a result of the acquisition, Raketech said its revenue from outside the Nordics is expected to reach around 20% of the group total.Raketech also noted that paid media, which is a large portion of revenue from Lead Republik, is expected to lower EBITDA margin for the group slightly.“This acquisition is ticking a lot of strategic boxes, as it gives us further footprint in markets important for our key partners at the same time as it contributes with technical know-how in form of a high qualitative technical platform together within competence within conversion optimisation and paid media,” Raktech’s chief executive Oskar Mühlbach said.“We further see strong synergies when combining Lead Republik’s offering with our know-how, within organic search,”“I am furthermore really glad to have the brilliant Lead Republik team on board and to be able to conclude that the sellers will continue their involvement for the upcoming 12 months in order to secure a smooth handover and accelerate further expansion into new markets.”The acquisition is effective from today (11 March), with Raketech to fund the purchase using cash on hand.The deal comes after Raketech last month reported a year-on-year increase in profit for 2019, despite new regulations in Sweden pushing revenue down.Total revenue at Raketech for the 12 months to 31 December 2019 amounted to €23.9m, down 6.5% from €25.6m in the previous year, while operating costs climbed 23.6% year-on-year to €17.8m.However, while lower revenue and higher costs pushed operating profit down 45.5% to €6.1m, when taking into account $2.3m in other non-operating income, which related to party liability that was waived in Q1 of 2019, profit before tax was up 54.2% to €7.4m.,last_img read more

Covid-19: global forecasts rebound after five-month decline

first_img H2 Gambling Capital saw the first gain in its 2020 gross gambling win forecasts this week since it started tracking the impact of the pandemic on the sector five months ago. Subscribe to the iGaming newsletter Bingo Topics: Casino & games Finance Legal & compliance Sports betting Bingo Poker Slots H2 Gambling Capital saw the first gain in its 2020 gross gambling win forecasts this week since it started tracking the impact of the pandemic on the sector five months ago.iGB’s principal data partner is now forecasting global gambling revenues to come in 24% behind pre-pandemic projections compared to 24.1% last week, after better-than-expected Chinese lottery and Italian igaming numbers for May added $360m to forecasts (Charts 1, 2 and 8 below)In Asia, the bringing forward of its assumption of Singapore casino reopenings to 23 June saw H2 adjust its downgrade to 27% from 27.1% (Chart 3)They however cautioned that a return to normal for this and other international destination casino markets was heavily dependent on border reopenings and resumption of air travel.The other main story this week was online increasing its forecast share of global gambling revenues, reflecting the continued acceleration in digital transformation of the sector highlighted in previous updates, now up to 17% from the 13.2% predicted before the pandemic (Chart 6). AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 26th June 2020 | By Stephen Carter Tags: Card Rooms and Poker Online Gambling Slot Machines Regions: Africa Asia Europe LATAM US North Africa & Middle East Email Address Covid-19: global forecasts rebound after five-month declinelast_img read more