Integrity is paramount

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first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting 7th February 2019 | By Email Address How to set up a frame work to ensure sports integrity, set out responsibilities between stakeholders and develop a reporting and investigation process. This panel took place at ICE Sports Betting USA 2018. Integrity is paramount Topics: Sports betting Subscribe to the iGaming newsletter How to set up a frame work to ensure sports integrity, set out responsibilities between stakeholders and develop a reporting and investigation process. last_img

William Hill swings to £721m loss after retail write-down

Posted on August 24, 2021Categories cclgspqzTags , , , ,   Leave a comment on William Hill swings to £721m loss after retail write-down

first_img William Hill has posted a £721.9m (€840.3m/$955.8m) pre-tax loss for 2018, as a result of an £882.8m write-down of the value of its retail business ahead of maximum B2 machine stakes being cut to £2 from April. Despite this, the operator hailed good underlying progress achieved over the year, with 2018 revenue up 2% year-on-year to £1.6bn. The operator’s William Hill US subsidiary, meanwhile, saw revenue grow 38% year-on-year to £79.7m for its existing business, with amounts wagered up 21% on a statutory reporting basis to £1.1bn. This marked the division’s six consecutive year of revenue growth, driven by a strong mobile performance, with amounts wagered via the channel up 42%, which helped offset the flat retail channel.The mobile growth was driven by a 20% increase in new customers, and average bet size growing by 46%.The operator’s US expansion arm, comprising revenue generated from newly-regulated sports betting markets following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in May, made an £11.8m contribution.Since May 2018, William Hill US has launched or expanded operations in New Jersey, Delaware, Rhode Island, Mississippi, Pennsylvania and West Virginia. This rapid expansion did incur significant costs, of £43.4m, which resulted in the division making a £33.2m loss for the year.The operator’s retail division was the only one to see revenue decline in 2018, falling 2% year-on-year to £895.2m. The operator saying that the impact of the summer’s Fifa World Cup was offset by racing fixture cancellations in the first half of the year, which led to sportsbook stakes falling 5% to £2.2bn.Looking at revenue by product, retail sports betting was down 4% to £398.9m, with gaming flat at £496.3m.Cost of sales, including gross profit tax, duties and levies for 2018 amounted to £389.7m, which left the operator with a gross profit of £1.2bn for the period, up 3.6% from 2017. Once other administrative expenses of £927.3m, depreciation of £24.5m and amortisation of £49.1m were stripped out, William Hill’s operating profit for the year was £233.6m.The operator was, however, hit by significant exceptional items and adjustments, including the £882.8m impairment of the retail division, following the UK government’s decision to cut B2 maximum stakes from £100 to £2.“A regulatory change of this nature is unprecedented and its impact on customer and competitor behaviour will not be known until some years after implementation but we currently estimate this could reduce the retail division’s annualised adjusted operating profit following mitigation measures by £70-£100m,” William Hill said.This resulted in the operator posting a pre-tax loss of £721.9m. As a result of this loss William Hill recognised a tax credit of £5.8m, as well as a £3.8m profit on discontinued operations. This resulted in a net loss of £712.3m for the period.Looking ahead to 2019, William Hill said his outlook was in line with market expectations, with the group expecting an effective tax rate of 12% for the year. This, it said, reflected the evolution of the business, with the acquisition of MRG Group and the growth of William Hill US. Regions: Europe UK & Ireland US William Hill has posted a £721.9m (€840.3m/$955.8m) pre-tax loss for 2018, as a result of an £882.8m write-down of the value of its retail business ahead of maximum B2 machine stakes being cut to £2 from April.Despite this, the operator hailed good underlying progress achieved over the year, with 2018 revenue up 2% year-on-year to £1.6bn.William chief executive Philip Bowcock (pictured) described 2018 as “a busy and decisive year” for the business.“Key regulatory decisions in the UK and US gave us much needed clarity to set a new five-year strategy and a goal to double profits by 2023,” he said. “We have three businesses at different stages, with online growing in the UK and diversifying internationally, retail being remodelled in response to the new £2 stake limit, and rapid expansion in the US sports betting market.”Against this backdrop, Bowcock said the underlying online performance had been good, the US had grown strongly, and retail had proved “resilient” in the face of difficult high street conditions. “With rapid expansion underway in the US and the acquisition of Mr Green now complete, we are excited and focused on the opportunity to make further operational and strategic progress this year,” the operator explained. “In 2019 we are remodelling our Retail offer while building a digitally-led and internationally diverse business, underpinned by a sustainable approach as part of our Nobody Harmed ambition.” “We know the next few years will require careful navigating and investment, but with a clear strategy and diverse, experienced leadership teams in place we are ready to capitalise on the opportunities available to us.”The operator’s online division saw revenue grow 3% to £616.9m, with this total split almost equally between sports betting (up 3% to £318.7m) and gaming (up 2% to £315.7m). Growth in online sports betting came despite a marginal decline in amounts wagered to £4.7bn.William Hill noted that this was largely down to enhanced customer due diligence checks introduced in the wake of a £6.2m settlement with the GB Gambling Commission for social responsibility failings in February 2018. Excluding the impact of these checks, amounts wagered would have been up 2% year-on-year.The geographic revenue split skewed heavily towards the UK, which accounted for £484.0m of the total, with £150.4m coming from other international markets. Active user numbers grew strongly in 2018, growing 25% to 3m unique active accounts, with the operator using offers and incentives to develop a mass market customer base.Mobile further established itself as the channel of choice for William Hill customers, responsible for 83% of sportsbook net revenue, up six percentage points, and 80% of gaming net revenue, an eleven percentage point rise. Subscribe to the iGaming newsletter “We have started delivering on our strategy with the expansion of our US business, being first out of the blocks in all states that have regulated sports betting, and with the acquisition of Mr Green, which will support the build-out of our international digital business,” he continued. “We have also put our weight behind reducing the amount of TV gambling advertising seen by under 18s through a voluntary whistle-to-whistle advertising ban before the watershed. Casino & games Topics: Casino & games Finance Sports betting Strategy Horse racing William Hill swings to £721m loss after retail write-down Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino 1st March 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

London council revokes pub gaming licence for underage play

Posted on August 24, 2021Categories wdymosaeTags , , , ,   Leave a comment on London council revokes pub gaming licence for underage play

first_img27th November 2019 | By Daniel O’Boyle Casino & games London council revokes pub gaming licence for underage play Topics: Casino & games Legal & compliance Slots Redbridge London Borough Council has become the UK’s first local authority to revoke a pub’s gaming machine licence, after finding that The George Public House, a branch of JD Wetherspoon, repeatedly failed to stop children playing the terminals. Regions: UK & Ireland Tags: Slot Machines Redbridge London Borough Council has become the UK’s first local authority to revoke a pub’s gaming machine licence, after finding that The George Public House, a branch of JD Wetherspoon, repeatedly failed to stop children playing the terminals.The decision follows two operations, in January and July of 2019, in which police cadets aged under 16 entered the pub and spent £3 on the machines without being asked for proof of age by staff who were nearby, while plain-clothed police officers witnessed the event. Customers must be 18 to play the machines.The George Public House previously had the right to host up to seven Category C gaming machines, which cost £1 per play and have a maximum payout of £100. Under the council’s ruling, it will lose the right to the five machines for which it needed to apply for a licence.However, the council’s licensing subcommittee allowed the pub to keep its automatic right to operate two betting terminals, after it was given assurances that the venue would implement technology to alert staff when machines are being used, along with measures to protect children.Sue Harper, the council’s Corporate Director for Place, said the council takes the issue of underage gambling extremely seriously.“Businesses with permits to operate betting machines have a legal obligation to protect children and other vulnerable people from being harmed or exploited by gambling,” Harper said.“At Redbridge, we put the welfare of our children at the heart of everything we do and won’t be afraid to use the full weight of the law against businesses in the borough that fail in their legal obligations to safeguard young people.” Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Towards a safer gambling environment

Posted on August 24, 2021Categories gkdecinrTags , , , ,   Leave a comment on Towards a safer gambling environment

first_img Subscribe to the iGaming newsletter Legal & compliance Tags: Mobile Online Gambling The arrival of the Betting and Gaming Council comes at a time when the industry finds itself under pressure to demonstrate its commitment to safer gambling, with marketing compliance at the centre of the debates. Income Access’ Erica Anderson discussed the path forward with three experienced stakeholders.“What is BGC doing?” Those words welcome visitors to the website homepage of the recently launched Betting and Gaming Council. For a comprehensive answer to the question, the site highlights the association’s dedication to responsible advertising as well as an uncompromising stance with regards to age verification requirements and self-exclusion programmes.The arrival of the BGC comes at a time when concerns and commitments regarding safer gambling practices have reached fever pitch, the subject matter more omnipresent than ever. It’s within that context that we spoke to three experienced industry stakeholders, each approaching the discussion from a different vantage point but unified in their belief that safer gambling practices are as essential as they are inevitable. Standards for safetyMathew Symmonds, director and founder at Web Analysis Solutions, explains that an association like the BGC is important not just for its mandate but also for the way in which it has been structured.“As an affiliate, it will help us to operate more effectively in regulated markets and will also mean that, given that the BGC has been founded by operators, it will be directed by those who understand the industry and how affiliates work,” says Symmonds. “Having strong industry associations like this means that conversations take place before policies, rules and regulations are enforced, leading to decisions that are practical and achievable.”The BGC launch arrived in tandem with a list of five core safer gambling commitments, the development of which was facilitated by The Senet Group, an independent body created to promote responsible gambling standards. A major focus of the commitments is education, evidenced by the allocation of £10m in funding for a national education programme that is “designed and delivered by relevant experts for children and young people over the next four years”.Launched in 2014, The Senet Group was founded on a collaborative effort between several leading operators. The safer gambling commitments were similarly strengthened by support from operators like Aspers, Bet365, Caesars, Flutter Entertainment, Genting, GVC, Playtech, Rank Group, Sky Betting & Gaming and William Hill.Kindred Group head of affiliates Ryan Henderson is encouraged by the role that operator-led groups could have on the conversation surrounding safer gambling practices. “I would hope that the BGC seize the opportunity to present the other side of the social responsibility (SR)/responsible gambling (RG) argument in the press and with regulators,” he says. “I would expect to see similar bodies set up elsewhere. We already have a similar body operating in Sweden, trying to help the government there manage their recent regulation.”Ian Sims, founder at Rightlander, which specialises in software that monitors and identifies misleading advertising, brings a similar sense of anticipation with regards to the UK and to what extent other regions will follow in its footsteps. Moreover, he specifically looks forward to seeing how affiliate marketers respond to the push for increased compliance standards.“The number of markets which are at an early stage of regulation will present new challenges as they learn the ropes and decide on strategy. Some may follow the UK lead while others may be more haphazard,” says Sims. “For affiliates to engage with compliance, it is imperative that they understand what they have to do. This may result in more culling [by operators] of affiliates that are either unable or unwilling to invest the time in research. Operators may need to assist them or consider reducing the size of their affiliate base until that knowledge is widespread.”Corporate social responsibility In September, two months before the launch of the BGC was announced, the UK Gambling Commission (UKGC) held its first-ever marketing co-creation workshop. The workshop provided an opportunity for marketing professionals from a range of gambling businesses to discuss topics such as ‘brand, marketing and the safer gambling approach’. One challenge identified by the attending delegates was the question as to whether safer gambling is part of a permanent brand identity or a short-term campaign.Considering this question from the affiliate perspective, Symmonds says that operating a compliant business in an industry subject to ever-evolving regulation is essential to ensuring long-term viability. “We wholly believe in safer gambling in that our revenue is more sustainable when it is made from players who are only risking what they can afford to lose,” he says. “If we referred unsafe gamblers, then we would not only be irresponsible and potentially attract regulatory implications, but we would also see potentially shorter player lifetimes and the need to adapt the way we do business to attract more transient players.”Henderson, who is equally resolute in the need for stronger action, emphasises the need for promoting efforts made by industry stakeholders to buttress the movement towards safer gambling practices.“It is critically important that we, as an industry, manage the conversation around SR and RG so that we highlight the important work that we as an industry are doing,” says Henderson. “Examples include [Kindred Group] efforts with Derby County football club in the UK around mental health and similar work with horse racing. We also lead by way of the RG messaging in our advertising, which encompasses affiliate marketing and other digital channels, across many of the markets that we operate in.”As more weight and resources are invested in educating the public about safer gambling and the industry’s proactive role in those efforts, there also remains a need for operators and affiliates to work together to support their own continued education.As Sims point out, in an evolving regulatory landscape, it’s important to ensure that respective parties know what is expected from them and what they should expect from each other. “Education is key,” he says. “It probably has to filter down from operators and game developers or maybe affiliates should need to demonstrate they have an understanding to operators before being accepted.”Based on this ongoing conversation, that demonstration of understanding and responsiveness will play a crucial role in the expansion, evolution and perception of the igaming industry for years to come.Erica Anderson is marketing director for Paysafe’s Income Access. Her role focuses on developing the marketing strategy for the Income Access brand. Holding a decade’s industry experience, she also oversees the company’s in-house affiliate management team and its suite of digital marketing services. Income Access manages close to 20 affiliate programmes. Topics: Legal & compliance Marketing & affiliates People 22nd January 2020 | By contenteditor Email Address Regions: UK & Ireland The arrival of the Betting and Gaming Council comes at a time when the industry finds itself under pressure to demonstrate its commitment to safer gambling, with marketing compliance at the centre of the debates. Income Access’ Erica Anderson discussed the path forward with three experienced stakeholders AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Towards a safer gambling environmentlast_img read more

IG Group appoints Rozes as new financial chief

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first_img Spread betting and contracts for difference (CFD) provider IG Group has named Charlie Rozes as its new chief financial officer.Rozes will join IG Group on 1 June and replace Paul Mainwaring, who in January announced his intention to retire. Mainwaring had agreed to remain in his position until the operator appointed a replacement.Rozes was most recently group finance director at multinational insurance corporation Jardine Lloyd Thompson from September 2015 until April 2019, when it was acquired by professional services firm Marsh & McLennan Companies. Since the acquisition, Rozes has played a key role in the integration programme to merge the two companies.Prior to this, he spent time as chief financial officer of Barclays UK retail and business bank and global head of investor relations for Barclays plc, and also held a number of senior executive roles at IBM and Bank of America.“I am very excited to be joining IG at this important time in its history and look forward to working with [chief executive] June Felix and the executive team in their objective of executing the delivery of the company’s global growth strategy,” Rozes said.IG Group chief executive June Felix added: “I am thrilled that Charlie is joining the executive team of IG. He brings extensive international experience of leading and working with UK and overseas operations and has successfully driven a number of substantial growth programmes throughout his career.“Charlie’s UK plc and executive director experience will further support IG as it continues to grow its sustainable and diversified global business and in achieving its strategic growth ambitions.”Felix also paid tribute to the outgoing Mainwaring. She said: “I would also like to thank Paul for his tremendous contribution to the company and look forward to continuing to work with him over the next few months as we orchestrate an orderly transition of his responsibilities to Charlie.”The appointment comes after IG Group last month revealed that it had benefitted from “exceptionally high levels” of financial market volatility caused by novel coronavirus (Covid-19), which resulted in significant revenue growth in Q4 to date.Revenue for the first 36 trading days of its fourth quarter, which ends 31 May, was estimated to be around £173.0m (€196.8m/$215.2m). This marked a 23.7% increase on revenue of £139.8m for the full third quarter, to 29 February, and more than half the £249.9m generated in the six months to 30 November 2019. Topics: Finance People Strategy AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Tags: Binary Options and Forex IG Group appoints Rozes as new financial chiefcenter_img Spread betting and contracts for difference (CFD) provider IG Group has named Charlie Rozes as its new chief financial officer. Subscribe to the iGaming newsletter 4th May 2020 | By contenteditor Email Addresslast_img read more

DraftKings partners Sportradar for live streaming launch

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first_imgSports betting Tags: Mobile Topics: Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 28th May 2020 | By contenteditor DraftKings partners Sportradar for live streaming launch Regions: US Subscribe to the iGaming newsletter DraftKings is to add live streams of sporting events to its mobile sportsbook application after expanding its partnership with sports data and content provider Sportradar.Pursuant to state regulations, DraftKings customers logged in to their accounts and have funds in their wallet will be able to stream certain sports events directly within the app.The ability to live stream will depend on a customer’s location, with DraftKings saying geo-located players can stream sports across all jurisdictions except Iowa.Among the events that will initially be available for live stream are German Bundesliga soccer and Korean baseball, with DraftKings to explore a potential expansion opportunities for its live stream functionality.Read the full story on iGB North America. DraftKings is to add live streams of sporting events to its mobile sportsbook application after expanding its partnership with sports data and content provider Sportradar. Email Addresslast_img read more

MLS to return with new tournament in July

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first_img Regions: US AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter MLS to return with new tournament in July 10th June 2020 | By Daniel O’Boyle Major League Soccer (MLS) will return from a suspension caused by the novel coronavirus (Covid-19) pandemic, for a new tournament starting on 8 July that will form part of the 2020 MLS season. Subscribe to the iGaming newslettercenter_img Sports betting Major League Soccer (MLS) will return from a suspension caused by the novel coronavirus (Covid-19) pandemic, for a new tournament starting on 8 July that will form part of the 2020 MLS season.The MLS Is Back Tournament, like the remainder of the NBA season, will be held at ESPN Wide World of Sports at Disney World Resort in Florida.The league’s 26 teams will be drawn into six groups. The Eastern Conference will have three groups, one consisting of six teams and two consisting of four teams each.The Western Conference will have three groups, each consisting of four teams. Nashville SC will move from the Western Conference to the Eastern for both the tournament and the remainder of the 2020 MLS season in order to facilitate this.Read more on iGB North America. Email Address Topics: Sports bettinglast_img read more

BetMGM launches online casino in West Virginia

Posted on August 24, 2021Categories tfznktszTags , , , ,   Leave a comment on BetMGM launches online casino in West Virginia

first_img Topics: Casino & games Tech & innovation Subscribe to the iGaming newsletter Casino & games 27th August 2020 | By contenteditor BetMGM, the betting brand operated via the joint venture between GVC Holdings and MGM Resorts, has launched its online casino platform in West Virginia. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter BetMGM launches online casino in West Virginia Email Address BetMGM, the betting brand operated via the joint venture between GVC Holdings and MGM Resorts, has launched its online casino platform in West Virginia.The BetMGM Casino brand will operate in under the license held by the Greenbrier Resort, and presented as a dedicated tab within the BetMGM Sports West Virginia mobile app.Players will have access to 30 games initially, including a selection of slot titles and a range of table games.“The addition of the leading igaming offering in West Virginia is a powerful differentiator for BetMGM,” BetMGM chief executive Adam Greenblatt said.“With the largest slate of casino games in the state, we’re confident that our superior offering will quickly become the online gaming destination of choice for players.”Read the full story on iGB North America. Regions: US West Virginia Tags: Online Gamblinglast_img read more

Cost cutting helps Red Rock post Q3 profit

Posted on August 24, 2021Categories rctitncdTags , , , ,   Leave a comment on Cost cutting helps Red Rock post Q3 profit

first_imgCovid-19 restrictions also weighed on other revenue streams, with food and beverage revenue falling 61.1% to $45.9m. Revenue from hotel rooms dropped to just $22.1m, and other revenue 47.9% to $14.5m, though revenue from management fees climbed 30.9% to $30.9m. Finance Casino operator Red Rock Resorts said that despite third quarter revenue falling 24.2% year-on-year, lower costs helped it post a profit for the period Red Rock, Green Valley Ranch, Santa Fe Station, Boulder Station, Palace Station and Sunset Station, together with its Wildfire properties and the Graton Casino Resort, have all now reopened, but are operating at reduced capacity. Regions: US Net revenue for the three months to September 30 amounted to $353.2m (£272.3m/€301.0m), down from $465.9m in the same period last year. Though casino revenue only edged up 0.7% year-on-year to $239.9m, this total was 217.3% higher than the $75.6m posted in Q2, a period in which most of the operator’s properties were shuttered by the pandemic. Read the full story on iGB North America. During the reporting period, Red Rock continued with a phased reopening of its properties, which had been forced to temporarily close in mid-March in line with novel coronavirus (Covid-19) restrictions.center_img Email Address Topics: Casino & games Finance Subscribe to the iGaming newsletter Tags: Red Rock Cost cutting helps Red Rock post Q3 profit AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 28th October 2020 | By Robert Fletcherlast_img read more

Carousel’s SportsBetting.com enters three new states with Caesars deal

Posted on August 24, 2021Categories znvbmgteTags , , , ,   Leave a comment on Carousel’s SportsBetting.com enters three new states with Caesars deal

first_img Subscribe to the iGaming newsletter Online sports betting 25th February 2021 | By Richard Mulligan AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Carousel Group has entered a multi-state, 10-year partnership with Caesars Entertainment that will see its SportsBetting.com brand become available to customers in three new states. Tags: Caesars Carousel Group SportsBetting.com Topics: Online sports betting Carousel’s SportsBetting.com enters three new states with Caesars deal Carousel said the agreement will increase its addressable market in the US from $109m to an estimated $1.8bn, with 24.5 million people residing in the target states. SportsBetting.com began operating in Colorado last year through a partnership with local licensee Johnny Nolon’s Casino. Through the agreement, Carousel’s flagship betting site will operate in New Jersey, Indiana and Iowa, with online casino also offered in New Jersey, pending obtaining all necessary gaming licenses. Read the full story on iGB North America. Regions: New Jersey Email Addresslast_img read more