Casino revenue at 888 Holdings improved by 8 percent last year, helping the online gaming operator achieve record underlying profits.

Publishing its 2018 financial report on March 12, 888’s balance sheet showed a 11 percent increase in adjusted profit before tax. However, while the jump from $78.3 million to $86.7 million was impressive, it was unadjusted profits that really shone.

As per the filing, overall profit before any cost adjustments was up from $18.8 million in 2017 to $108.7 million.

Profits Soar Despite Regulatory Backdraft

Although overall group revenue was down by 2 percent, the underlying earnings are a testament … Read more

Stars Group to Dominate UK Online Gaming Amid Market Disruption

Disruption in the UK online gaming market is perfect for PokerStars according to CEO of the Stars Group, Rafi Ashkenazi.

Discussing the gaming company’s plans for 2019, Ashkenazi said last year’s acquisition of Sky Betting and Gaming (SBG) has given it dominant share of the UK market.

“What we’re seeing is, essentially, the foundation that was laid by the SBG team. We are the largest in terms of market share and leveraging on this customer base is something that allows us to grow faster in the market,” the CEO told investors on March 6.

Profitable 2018 Prompts UK Online Gaming

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888 Riles BetBright Customers As Bets Disappear Following £15 Million Takeover

BetBright customers have been left fuming after having their Cheltenham bets cancelled just 24 hours after 888 Holdings bought the website.

Following news that 888 had taken control of BetBright in a deal worth £15 million, customers have hit back after learning that their ante-post bets have been voided.

Deal Doesn’t Satisfy Customers

Under the terms of the March 4 deal, 888 assumed control of BetBright’s technology. However, it didn’t buy the company’s customer base or any outstanding liability on bets.

A message clarifying the situation was posted on the BetBright homepage the following day.

As well as informing customers

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Ladbrokes Coral owner GVC has called 2018 a “transformational” year after its online assets helped cancel out losses in the UK retail sector.

Commenting on its recent annual report, GVC boss Kenneth Alexander noted that online growth was “very strong” but costs saw the gaming operator lose £18.9 million before tax.

As per the report, net gaming and total sales both increased by nine percent. But despite revenue in both areas topping £3.57 billion and £3.52 billion, acquisition costs and back-tax added £434.2 million in charges to the balance sheet.

Ups and Downs as GVC Evolves

Discounting the unexpected charges, … Read more

GVC Boss Optimistic as New Playtech Deal Improves Flexibility

GVC and Playtech have agreed a multiyear partnership that will see UK gaming brands Ladbrokes Coral, Partypoker and Bwin receive a raft of software upgrades.

Extending an existing six-year-old deal, the two companies will now enhance their relationship through a series of new initiatives.

Set to run until 2025, the new arrangement will see Playtech provide “key” products and services across the GVC network. Significantly, that means Playtech will gain a greater footing in new markets.

Playtech Profiting from GVC Expansion

With retail revenue in the UK falling due to recent regulatory changes, GVC has found solace in its online … Read more

Gaming Trends Shift as Mobile Casino Usage Increases

Mobile casino gaming has reached record levels, prompting anti-gambling advocates to brand them as potentially destructive as fixed odds betting terminals (FOBTs).

According to a recent report published by the UK Gambling Commission (UKGC), more than 1.6 million Britons bet via their mobiles. Supporting the latest statistics, the regulator’s Gambling Participation in 2018 summary shows that 55 percent of gamers have gambled on their smartphone or tablet.

More Mobile Casino Gamers than Ever

Expanding on the findings, the research shows that 44 percent of gamers regularly use mobile casino apps. As well as being double what it was four years … Read more

RGA and ABB to Form Lobbying Superpower to Help UK Gaming Operators

UK gaming operators may soon have a powerful new ally if a proposed merger between the Remote Gambling Association (RGA) and the Association of British Bookmakers (ABB) takes place.

Although no official announcements have been made, job adverts suggest the two groups are preparing to become one. If that happens, the entity’s main aim would be to represent UK gaming operators in a more effective way.

Changes Needed for All in UK Gaming

Speaking to The Guardian newspaper, an unnamed industry figure said “it’s time to get lined up a bit better,” in order to address major regulatory issues..

This … Read more

Profitable 2018 for Playtech Despite UK Pressures

Playtech expects underlying profits to increase by 21 percent this year thanks to a strong set of results in 2018.

Publishing its annual report on February 21, the software supplier announced that revenue improved by 54 percent in the 12 months to December 31. When the figures were adjusted for underlying earnings (EBITDA), Playtech’s fortunes were up by 7 percent to €343 million/£297 million.

Acquisition Keeps Playtech Profitable

Basing this year’s projections on 2018’s performance, Playtech bosses believe earnings can top £300 million. Helping to fuel the company’s optimism is a series of new casino and betting partners in the … Read more

RGSB Wants More Focus on Responsible Gambling

The Responsible Gambling Strategy Board (RGSB) has published a 20-page document on changes it believes will help reduce problem gambling in the UK.

Spun out of the UK Gambling Commission’s (UKGC) need to have an advisory board, the RGSB now offers advice on all sectors of the industry. As well as liaising with the UKGC, the organisation also works alongside the government’s Department for Digital, Culture, Media & Sport (DCMS).

Responsible Gambling Strategy Board Maintaining Momentum

Building on Prime Minister Theresa May’s pledge to fund problem gambling clinics as part of her £20.5 billion NHS plan, the RGSB has outlined … Read more

FOBT Cuts Prompt 888 Holdings to Purchase Costa Bingo Network

888 Holdings Plc is aiming to dominate the £660 million+ online bingo sector after announcing its acquisition of Jet Media Limited.

Sending out a press release on February 19, 888 Holdings confirmed that an £18 million offer to take over the online bingo network was underway. The transaction will be settled in cash, £12 million of which will be paid on completion of the acquisition, with the final £6 million due in September 2019.

Natural Move for 888 Holdings

As per the terms of the agreement, 888 Holdings will take full control of the online bingo sites owned by Jet, … Read more