Boston Red Sox secures MLB first with MGM Resorts deal

first_img Regions: US Massachusetts Email Address 11th March 2019 | By contenteditor Boston Red Sox secures MLB first with MGM Resorts deal Topics: Casino & games Marketing & affiliates Sports betting The Boston Red Sox has become the first Major League Baseball (MLB) franchise to enter into a partnership with a casino and gaming company after confirming a deal with MGM Resorts International.center_img Subscribe to the iGaming newsletter Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Boston Red Sox has become the first Major League Baseball (MLB) franchise to enter into a partnership with a casino and gaming company after confirming a deal with MGM Resorts International. The multi-year agreement designates casino operator MGM Resorts as the official and exclusive resort casino of the Massachusetts-based Red Sox. MGM Resorts will benefit from branding placement behind the home plate at the team’s Fenway Park home ballpark, as well as on the iconic Green Monster left field wall at the stadium. The casino operator will also receive airtime on Red Sox radio and various other media outlets controlled by the franchise, and will gain the right to offer unique experiences at Fenway Park to fans and customers. In addition, MGM will host a series of special promotional experiences at its MGM Springfield facility in Massachusetts. The venue will become the new home of the Red Sox’ annual Baseball Winter Weekend event. “MGM has set the standard in the hospitality and entertainment industry and their recent expansion into the Commonwealth makes them a clear partner,” Red Sox president and CEO Sam Kennedy said. “We’re thrilled to welcome them to the Red Sox family and look forward to a long collaboration.” Jim Murren, chairman and CEO of MGM Resorts, added: “Combining the two iconic brands of the Red Sox and MGM Resorts will create a new one-of-a-kind fan experience for baseball fans unique to not only New England and MGM Springfield, but the rest of the country. “We look forward to continuing our work and partnerships in the world of professional sports and building on our success as a worldwide entertainment leader.” The Red Sox is the first franchise to enter into such a partnership, but MLB itself has secured a number of deals in the wake of the Supreme Court ruling on PASPA last year. Such deals include a partnership with MGM, under which the group serves as the official gaming and entertainment partner of the baseball league. More recently, MLB has appointed Sportradar as its official global data partner.Image: Keith Allisonlast_img read more


Scarab Stone by CT Interactive

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 23rd July 2019 | By Aaron Noy Casino & games Scarab Stone game will take you to a thrilling expedition through the ancient Egypt relics along with a charming lady explorer and an Indiana Jones inspired character.The slot has a classic setup of five reels and 25 fixed paylines. The star features of Scarab Stone are the free games bonus round where 3, 4 or 5 scatter symbols trigger 7 Free Games.During the first six free games, each WILD leaves a small “stamp” at the position where it appeared. At the 7th free game, they transform into sticky WILDs of full value at the positions where they appeared with the amazing chance to retrigger this bonus for more spins.You can play a demo of this game here! You can download the First Look Games affiliate pack for this game here! Email Address Scarab Stone by CT Interactive Topics: Casino & games Slots Subscribe to the iGaming newsletter Scarab Stone game will take you to a thrilling expedition through the ancient Egypt relics along with a charming lady explorer and an Indiana Jones inspired character. The slot has a classic setup of five reels and 25 fixed paylines. last_img read more


GC appoints managers to lead National Lottery tender

first_img Subscribe to the iGaming newsletter Lottery GC appoints managers to lead National Lottery tender The GB Gambling Commission has appointed a pair of executives to oversee the tender process to award the fourth National Lottery licence, with investment bank Rothschild & Co also named lead financial advisor. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The GB Gambling Commission has appointed a pair of executives to oversee the tender process to award the fourth National Lottery licence, with investment bank Rothschild & Co also named lead financial advisor.Existing National Lottery operator Camelot’s licence expires in 2023, and the Gambling Commission, the body responsible for designing and managing the tender, has been working on the process since November 2018.It is set to launch early in 2020, and will be led by John Tanner, who will serve as executive director and senior responsible officer (SRO). Tanner joins from Her Majesty’s Revenue and Customs, where he has managed a number of high-profile programmes and projects.“I’m delighted to be leading the team that is working on this vitally important project,” Tanner said. “We have already set firm foundations for the competition and I am looking forward to working with prospective bidders, stakeholders and all the members of our team as we build on those foundations to prepare for the formal launch of the competition at the end of March next year.”Tanner will be supported by Andrew Wilson, who has been named commercial director for the tender process. In this role Wilson also work closely with the team of project’s advisors to ensure a fair and competitive process for bidders.“The National Lottery is a national asset,” Neil McArthur, the chief executive of the Gambling Commission, said. “We want to build on the tremendous success of the National Lottery and we are determined to run a fair and transparent competition process that maximises the opportunities for innovation and creativity whilst protecting the special status of the National Lottery.”Financial services giant Rothschild & Co will also assist the Gambling Commission in the tender process, serving as lead financial advisors. “The National Lottery is one of the largest and most successful lotteries globally and is of significant national importance,” Edward Duckett, managing director at Rothschild & Co said. “The competition for the 4th National Lottery licence is one which has the potential to generate interest from a wide range of national and international operators. We are delighted to have been entrusted by the Gambling Commission as their lead adviser to assist in delivering a successful competition for the fourth licence.”Camelot has operated the lottery since its founding, winning tenders in 1994, 2001 and 2007, and having its deal extended in 2012. During the fiscal year ending on 31 March 2019, Camelot reported a 4% increase in sales to £7.21bn for the financial year ending on 31 March 2019, including record digital revenues.The market engagement work undertaken so far has also included consulting with interested parties about key policy themes that will inform the design of the next licence. At the launch of the bidding process, McArthur said he hoped to see a focus on technological innovation during this bidding cycle.Ernst & Young will also support the process, advising on the commercial and competition design, while Deloitte will support the policy development and licence design and Hogan Lovell will act as the Commission’s external legal advisors.center_img Topics: Lottery 23rd July 2019 | By Daniel O’Boyle Regions: UK & Ireland Email Addresslast_img read more


PMU sees Q3 revenue slip despite ongoing French racing growth

first_img Topics: Casino & games Finance Sports betting Poker Horse racing Pari-Mutuel Urbain (PMU) has reported a 1.8% year-on-year decline in revenue for the third quarter, despite experiencing ongoing growth within its French horse racing betting business.Revenue for the three months through to 30 September 2019 came in at €2.26bn (£1.95bn/$2.50bn), down from the corresponding period last year but level with the second quarter of the current year.PMU was hit particularly hard within its sports betting operation, which excludes horse racing, with revenue falling 28% year-on-year to €59m. The operator also saw an 11.7% decline in poker revenue to €125m in the period.However, there was positive news for PMU’s core French horse racing business, with revenue up 0.5% to €1.81bn, though the same could not be said for PMU’s international horse racing arm, where revenue slipped 4.7% to €258m.Focusing on the French horse racing arm, PMU said online betting was up 5.1% year-on-year to €199m, while mobile wagers also increased by 8.3% to €61m. Land-based wagering remains the main source of income for this area of the business, but stakes were down marginally (0.3%) to €1.54bn in the period.The third quarter results made for similar reading as the first half, with overall revenue down but the operator seeing growth within its French racing arm.Reflecting on the third quarter, PMU’s chief executive Cyril Linette said that ongoing growth within the French horse racing business demonstrates the operator’s strategy to focus more on its core operations is working.“The good trends observed support the strategic choice to refocus the PMU on its race DNA,” he said. “The recovery plan is focused first of all on the customer’s heart and our traditional points of sale.“By voluntarily decreasing the supply of races and bets, it was to recreate the attractiveness of our bettors and to facilitate the life of our distribution network. These new measures have been understood and very well received. We must redouble our efforts, but the trend is encouraging.”Bertrand Méheut, chairman of the board of directors at PMU, added: “The strong choices made a year ago and supported by the board of directors are bearing fruit. The strong correction of the downward trend in activity is confirmed month after month.”Méheut also highlighted the decision to rebrand PMU as a key turning point for the operator. This project is ongoing, with Emmanuelle Malecaze-Doublet having last month been brought in as its new marketing director. Subscribe to the iGaming newsletter 16th October 2019 | By contenteditor Tags: Card Rooms and Poker Online Gambling Race Track and Racino AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter PMU sees Q3 revenue slip despite ongoing French racing growth Casino & games Email Address Pari-Mutuel Urbain (PMU) has reported a 1.8% year-on-year decline in revenue for the third quarter, despite experiencing ongoing growth within its French horse racing betting business. Regions: Europe Western Europe Francelast_img read more


Italy iGaming Dashboard – November 2019

first_img A sharp year-on-year drop in poker revenue led to Italy’s regulated online gambling market reporting a marginal decline in October, the latest figures from Ficom Leisure show.We apologise for the delay in publishing November’s Italy iGaming Dashboard. It was pushed back in order to clarify some figures by the country’s gaming regulator AAMS. The infographic below also includes updated bingo numbers for September, which had not been available at the time of publication.The poker market struggled in October, with cash games revenue dropping 13.6% to €5.8m and tournament revenue down 7.6% at €4.9m. Coupled with a slight fall in online betting revenue to €56.6m, this led to total online revenue falling 0.2% to €136.3m.Bingo was the standout performer for the month with revenue up 17.6% – though from a low base – while casino reported a 1.3% increase to €65.7m.Total sports betting revenue across online and retail was down 3.6%, with a marginal online decline exacerbated by a 5.8% slide in retail’s contribution, to €72.2m.Goldbet was the standout performer in the vertical for the month, with combined online and retail market share of 16.5%. This broke down into a 9.9% share of Italy’s online betting market, and revenue amounting to 21.8% of the retail market.It leapt ahead of September’s market leader Snaitech, with the Playtech-owned operator falling into second place with a 15.5% share, though this represented an 0.8 percentage point improvement on the prior month.Bet365 continues to rule the roost online, accounting for 14.8% of market revenue, closely followed by SKS365’s PlanetWin365, on 14.2%. Snaitech followed in third with 13.7%.Turning to online casino, PokerStars remains at the pinnacle of the market, though its share slipped to 9.7% in October. Second-placed Sisal also saw its share decline (to 8.2%), though remains ahead of Snaitech in third (7.7%) while Lottomatica – third place in September – falls back to fourth.Scroll down to see the full interactive datasets.All data and figures are processed by leading European corporate advisory firm Ficom Leisure, a specialist in all segments of the betting and gaming sector.Ficom Leisure also provides monthly figures on the New Jersey online market in the New Jersey iGaming Dashboard and Pennsylvania in the Pennsylvania iGaming Dashboard, which are available on iGB North America. It also provides quarterly figures on the Spanish online market in the Spain iGaming Dashboard, on the Danish market in the Denmark iGaming Dashboard, and on the Portuguese market in the Portugal iGaming Dashboard. Regions: Europe Southern Europe Italy Bingo Italy iGaming Dashboard – November 2019 A sharp year-on-year drop in poker revenue led to Italy’s regulated online gambling market reporting a marginal decline in October, the latest figures from Ficom Leisure show. Topics: Casino & games Finance Legal & compliance Sports betting Bingo Poker Tags: Card Rooms and Poker Mobile Online Gambling OTB and Betting Shops 5th December 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Addresslast_img read more


New Jersey hits back at DOJ in Wire Act dispute

first_imgLegal & compliance New Jersey Attorney General Attorney General Gurbir Grewal has filed an amicus brief setting out the state’s opposition to the US Department of Justice’s (DoJ) reinterpretation of the 1961 Wire Act, arguing federal law permits most forms of online wagering. New Jersey hits back at DOJ in Wire Act dispute Subscribe to the iGaming newsletter Regions: US AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Tags: Online Gambling New Jersey Attorney General Attorney General Gurbir Grewal has filed an amicus brief setting out the state’s opposition to the US Department of Justice’s (DoJ) reinterpretation of the 1961 Wire Act, arguing federal law permits most forms of online wagering.Grewal filed the new amicus brief with a First District Federal Court of Appeals in response to the DoJ’s appeal against a New Hampshire Court decision that struck down its revised stance on the Act, published in January 2019.The DoJ’s revised stance said that the Wire Act’s prohibition applies to all forms of gambling and not just sports betting, thus reversing a 2011 ruling. The opinion came following a request from the DoJ’s Criminal Division to reconsider the 2011 ruling, which paved the way for the roll-out of online gambling in a number of states.At the time, this prompted a robust response from Grewal, who argued that it appeared to have been influenced by anti-igaming lobbyists.The New Hampshire Lottery Commission filed a lawsuit challenging the opinion, and prevailed in District Court in June 2019. Judge Paul Barbadoro rejected the DoJ Office of Legal Counsel’s 2018 opinion that claimed the Act covered all forms of gambling.Read the full story on iGB North America. 9th March 2020 | By contenteditor Email Addresslast_img read more


Spelinspektionen: online gambling in decline amid Covid-19

first_img Regions: Europe Nordics Sweden Online gambling rates in Sweden have declined since the outbreak of the novel coronavirus (Covid-19), according to new data from the country’s Gambling Authority (Spelinspektionen). Spelinspektionen: online gambling in decline amid Covid-19 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games 19th May 2020 | By Daniel O’Boyle Topics: Casino & games Legal & compliance Sports betting Email Address Online gambling rates in Sweden have declined since the outbreak of the novel coronavirus (Covid-19), according to new data from the country’s Gambling Authority (Spelinspektionen).The data, part of the of the first of a series of monthly reports Spelinspektionen was tasked with producing during the crisis, found that overall betting and gaming turnover in March and April was down 5.9% and 5.4% year-on-year respectively. This contrasts with January, when online gaming turnover was up 21%, and February, for which a 9% increase was recorded.The authority did note, however, that some of the comparability may be affected by the fact that Sweden’s market only opened at the start of 2019.The regulator said that while casino play increased, the decline in sports betting was drastic enough to ensure that overall online betting and gaming was down 6% for the year to date.“Virtually all betting activities except horse racing ceased in the middle of March, when most major sporting events were canceled as a result of the coronavirus pandemic,” Spelinspektionen said. “An example of this is the turnover of two major gaming companies with a focus on betting decreased significantly by 40% and 51% in March 2020, compared to March 2019.“Several of the larger companies that are more focused on online casino games fared significantly better. As a whole, the category of online gaming and betting sales decreased by 6% in March 2020 compared to March 2019.”However, the authority added that 55% of online licensees reported growth in turnover for March, based on tax returns, while 58% did so in April.This decline in play casts doubt on the reasoning behind online casino restrictions proposed by Sweden’s Minister for Health and Social Affairs Ardalan Shekarabi and set to come into effect on 1 June.The rules include a SEK5,000 (£401/€459/$495) weekly deposit limit and a SEK100 cap on bonuses. These rules have already drawn criticism from stakeholders across the Swedish gambling industry, as well as the European Gaming and Betting Association (EGBA). Spelinspektionen, meanwhile, said the rules could benefit illegal operators rather than enhancing player protection.The Spelpaus self-exclusion scheme, meanwhile, saw a “continuous increase” in self-exclusions, with the regulator not noting a growth or slowing in the rate of this increase. As of 14 May, 51,674 people had voluntarily blocked access to gambling sites.Spelinspektionen added that many of these rules would be difficult to implement by 1 June, echoing the concerns aired by many operators earlier this month.“The Authority wishes to point out that the proposed rules may affect key parts of the licensees’ technical systems,” Spelinspektionen said. “These changes can be both time-consuming and require re-certification of the systems. This entails a great risk that many licensees will not be able to meet the new requirements within the proposed time.”The Authority added that players could deposit far more than SEK5,000 in a single week through playing with various different operators. It said that it was “not possible” to institute a national register or deposits or losses in order to monitor player activity between operators.In terms of new measures to strengthen player protection, Spelinspektionen said introducing a B2B supplier licence could help substantially in the fight against online gambling. This suggestion has already been put forward by Svenska Spel and Betsson in their submissions to the consultation held by the Swedish government on its proposed new controls.“Spelinspektionen sees several benefits of introducing such a scheme as soon as possible,” it said. “Such an arrangement would also reduce the administrative burden for the licensees by shifting the emphasis of the certification procedure to the gaming software providers.”In addition, the regulator said that a “debt register”, as proposed by the Swedish Financial Supervisory Authority (Finansinspektionen) could be “more important for the protection of players than many other measures”.This register would, according to FI, “allow for creditors to get a comprehensive picture of consumer debt,” which Spelinspektionen said would make it more difficult for players to borrow money to gamble.“A major problem with gambling is the over-indebtedness that burdens many people,” Spelinspektionen said. “With a well-functioning credit check, this type of indebtedness could be avoided.”It also noted that enforcement of rules prohibiting marketing to self-excluded customers could be improved if the Authority and the Swedish Consumer Agency (Konsumentverket) were able to share more data.The regulator added that it has been collaborating with law enforcement authorities in Sweden and elsewhere to fight illegal gambling sites, but said it was too early to mention progress in this area. It said it had identified 20 new operators who “may be eligible for a possible injunction” for illegally targeting Swedish players in the coming months, on top of 11 operators who have already received injunctions.In addition, it said it had conducted a survey in order to understand links between affiliate marketing and unlicensed gambling sites. Subscribe to the iGaming newsletter Tags: Online Gamblinglast_img read more


Playtech launches casino and poker content with Enlabs

first_img4th August 2020 | By contenteditor Tags: Card Rooms and Poker Online Gambling Industry giant Playtech has rolled out a range of online casino content and its poker technology with Baltic-facing operator Enlabs.Under the agreement, Enlabs’ Optibet.lv and BestPoker.com brands now have access to Playtech’s online casino and poker offerings.The roll-out sees Playtech enter the Latvian poker market for the first time.In terms of casino content, Enlabs has access to Playtech’s range of branded titles such as Justice League and the Sporting Legends Suite.“Playtech’s scale and innovation are powerful tools when looking to deliver the best player experience in growing and established markets alike,” Enlabs’ head of poker Maksims Gorbacs said. “We look forward to developing this partnership further as we continue to grow our content offering.”Playtech’s head of poker Marat Koss added: “The poker market is facing undeniable challenges, but at Playtech, we’re continuing to invest in expanding and evolving our software and network to address the future head-on.“We are joining forces with a very professional and experienced poker team led by Maksims Gorbacs and I have no doubt that this partnership will be fruitful and productive.”The new deal comes after Enlabs last month revealed that it remained profitable in the second quarter despite revenue falling by a third and the temporary closure of Latvia’s gambling market as a result of novel coronavirus (Covid-19).In a trading update for the three months to 30 June, Enlabs said total sales amounted to an estimated €6m, which was down from €9m in the same period in 2019. Industry giant Playtech has rolled out a range of online casino content and its poker technology with Baltic-facing operator Enlabs. Playtech launches casino and poker content with Enlabs AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Tech & innovation Pokercenter_img Casino & games Subscribe to the iGaming newsletter Companies: Playtech Regions: Europe Email Addresslast_img read more


Esports Entertainment expects revenue to reach $13m in 2021

first_img Subscribe to the iGaming newsletter Topics: Casino & games Esports Finance Sports betting Video gaming Casino & games 10th September 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Video Gamingcenter_img Esports Entertainment expects revenue to reach $13m in 2021 Esports Entertainment Group has forecast revenue of $13.0m (10.0m/€10.9m) for its 2021 fiscal year, the first year in which the esports betting operator will be able to post revenue. The operator had been in what it described as a “development stage” and as such had not realised profitable operations, with recurring losses meaning it had not been able to generate revenue. However, following a number of major strategic milestones in recent months, it has for the first time published organic revenue guidance, covering the 2021 and 2022 fiscal years. Key developments include the operator listing on NASDAQ in April this year, the recent acquisitions of betting and gaming operator Argyll Entertainment and the assets of Flip Sports, as well as it forming new partnerships with Allied Esports, Dignitas and a New Jersey market access agreement with Twin River Worldwide. Such is the forecast growth of the business that the operator said revenue is set to almost double in FY2021 to approximately $25.0m. This will be driven by the VIE.gg exchange betting platform, which the operator said has a revenue opportunity of $180.0m, based on the business securing 5% of the esports wagering market, which it believes to be worth $3.6bn. Esports Entertainment chief executive Grant Johnson also cited the importance of the operator’s ‘three pillar strategy’, which focuses on growth opportunities in certain sectors. It copmrises targeted efforts in esports entertainment through tournaments and leagues, as well as esports wagering in key markets via its VIE.gg platform, and also generating revenue from igaming and traditional sports betting. “Now that we have completed several of the strategic milestones that we laid out in our roadshow, we are well positioned for strong organic revenue growth,” Johnson said. “We additionally intend to aggressively pursue accretive acquisitions within each of the frameworks of our three pillar strategy.” Esports Entertainment Group has forecast revenue of $13.0m (10.0m/€10.9m) for its 2021 fiscal year, the first year in which the esports betting operator will be able to post revenue. Email Addresslast_img read more


Tabcorp continues Covid-19 recovery despite revenue decline in H1

first_img($11.0m), Tatts Group combination implementation costs ($8.0m) and restructure costs ($3.0m), with these partly offset by the profit on sale of Jumbo  ($69.0m). Australian gambling business Tabcorp said that despite reporting a year-on-year decline in revenue and statutory net profit in the first half of its financial year, it experienced strong recovery from the impact of the novel coronavirus (Covid-19) pandemic. Tags: Revenue Tabcorp Profit The operator also noted $22.0m in significant items, comprising amended tax treatment of the MAX CMS licence ($69.0m), Racing Queensland arrangements Finance Variable contribution – revenue minus variable costs – was down 7.1% year-on-year to $957.0m, but operating expenses were reduced by 8.3% to $397.0m, mainly due to the suspension of certain activities. Tabcorp noted an increase in sales across all base lottery and keno games in H1, helped by the refresh of both the Set for Life and Saturday Lotto games. The share of turnover attributed to digital increased to 32.1% for lottery and 17.1% for keno. “We are experiencing a strong recovery following the recent market challenges,” Tabcorp chief executive and managing director David Attenborough said. “The Covid-19 pandemic continued to impact Tabcorp’s group earnings in 1H21, with the retail closures and restrictions, especially in Victoria, having a material impact. Earnings before interest, tax, depreciation and amortisation (EBITDA) before significant items fell 6.2% to $560.0m, while after accounting for depreciation and amortisation, earnings before interest, tax and significant items declined 7.9% to $372.0m. Tabcorp said this modest increase was due to a 34.0% increase in digital revenue and 43% rise in digital turnover, with retail having been hampered by closures due to Covid-19. 17th February 2021 | By Robert Fletcher Elsewhere, wagering and media revenue edged up 0.8% from $1.18bn in 2019-20 to $1.19bn in the most recent period, with digital growth helping to offset declines in retail. As such, Tabcorp ended H1 with $185.0m in statutory net profit after tax and significant items, down 7.0% from $199.0m in the first half of 2019-20. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Finance Lottery Sports betting Attenborough also noted that as a result of these actions, Tabcorp has been able to resume paying dividends to shareholders. Eligible shareholders will receive an interim dividend of 7.5 cents per share fully franked, which is in line with the previously announced revised dividend payout policy.center_img Tabcorp continues Covid-19 recovery despite revenue decline in H1 Tabcorp noted the impact of closures in Victoria in particular, with the state accounting for 30% of all gaming services revenue. Greater Melbourne venues were not able to reopen until November, whereas facilities in other states began to reopen from June. In its 2019-20 financial year, Tabcorp’s wagering and media business brought in AUD$2.08bn and EBITDA of $371m. However, despite growth within these two core business areas, Tabcorp noted a major decline in gaming service revenue, which more than halved from $149.0m to $73.0m. Again, Tabcorp put this down to the impact of Covid-19, with some states having been forced to close venues in line with restrictions. “After taking actions to reduce costs, preserve cash and strengthen the balance sheet over the past 12 months, Tabcorp is emerging from Covid-19 challenges in a stronger financial position,” Attenborough said. Lotteries and keno remained Tabcorp’s primary source of income, with revenue here reaching $1.61bn, which was 1.6% higher than in the first half of the 2019-20 financial year, despite the impact of Covid-19. Publication of the first half results comes after Tabcorp earlier this month said it had received “a number of unsolicited approaches and proposals” to acquire its wagering and media arm, with Entain among those to have put forward an offer. Tabcorp said it had not received a firm bid for the business, but noted that any sale would leave it to focus only on its lotteries and gaming services divisions. Regions: Australia Tabcorp accumulated $82.0m in interest during the first half and paid $83.0m in income tax, leaving a net profit before significant items of $207.0m, down 3.3% from 2019-20. Total revenue for the six months to 31 December 2020 amounted to AUS$2.87bn (£1.06bn/€1.85bn/US$2.23bn), down 1.5% from $2.91bn in the same period in 2019. “However, we are pleased with the way our teams and partners responded to the substantial operational challenges the pandemic presented. Covid-19 has clearly demonstrated the importance of serving customers with a seamless, multi-channel experience. Investments made to modernise our digital offering in recent years drove significant benefits.” Subscribe to the iGaming newsletter Email Addresslast_img read more