OCUK News Centre

The value of online gaming will improve by 11.5 percent over the next five years according to a new report by Grand View Research Inc.

Disseminating its results on August 27, the research company believes online betting revenue will top $102.9 billion/£830 million by 2025.

Explaining its conclusion, Grand View Research pointed to the popularity of social gaming as well as key opportunities opening up in new markets as drivers of growth.

UK Holds Key Role in Online Gaming Industry

The UK was highlighted as a source of continued growth. Noting the role of the UK Gambling Commission (UKGC), the … Read more

Rank Group, the parent company of Grosvenor Casinos and Mecca Bingo, has said digital innovations and cost-cutting have helped revive its flagging finances.

Publishing its preliminary results for the 12 months to June 30, 2019, Rank showed a 22 percent slump in operating profit.

Fuelling the drop from £50.1 million to £39 million over the last year was decreased footfall and a decline in high roller spending.

Offline Revenue Falls

As outlined in the August 22 report, revenue on a like-for-like basis across its network of live venues was down two percent. However, despite offline earnings taking a dive, the … Read more

Fixed odds betting terminals (FOBTs) and tighter regulations aren’t hampering growth at GVC Holdings according to the operator’s latest financial filing.

Summarising its H1 results and looking forward to the end of 2019, GVC’s CEO Kenneth Alexander way buoyant on August 15.

Describing the company’s online operating model as “highly effective,” Alexander is confident full-year profits will exceed previous expectations.

Online Gaming at GVC Holdings Exceeds Expectations

According to the interim report, proforma net gaming revenue (NGR) is five percent ahead of projections at £1.8 billion. Contributing to that improved full-year projection is a 17 percent surge in online gaming … Read more

Flutter Entertainment, the new trading name of Paddy Power Betfair, has seen revenue increase but profits take a knock in the first half of 2019.

Publishing its H1 results on August 7, Flutter Entertainment showed that revenue was up 18 percent year-on-year. However, despite income increasing from £867 million to £1.02 billion, underlying profit before tax was down 24 percent.

According to the interim report, the “strong” revenue increase was due to organic growth and acquisitions.

Flutter Entertainment Confident Despite Challenges

Alongside its takeover of Adjarabet, Paddy Power Betfair has been increasing its presence in the US this year.

However, … Read more