Connect with us

Latest News

Intralot records revenue growth in first quarter

Niji Ng

Published

on

Reading Time: 1 minute

Intralot, the gambling service provider based in Greece, has posted impressive revenue results for the first quarter of 2018. It has reported a 4.3 per cent hike in revenue and a 1.9 per cent growth in EBITDA, compared the corresponding figures in 2017.

The company has amassed a €280.7 million turnover and its EBITDA reached €42.6 million.

Despite the revenue surge, Intralot’s net debt increased by €17.6 million to reach €528.3 million during the first quarter. However, the firm sees a quick recovery on the debt front following US Supreme Court’s decision to revoke PASPA.

 “The 2018 Q1 results show stronger sales and continuing growth in developed markets, reflecting increasingly successful market development efforts along with an upgrade of our offering with next-generation products and services for Lotteries digital transformation,” Intralot Group CEO Antonios Kerastaris said and added: “Emphasis remains on growth in markets such as the United States where the recent lift of the federal ban on sports betting creates tremendous business opportunities from the rise of a potential USD 20bn market in annual GGR terms, on top of great prospects in new flagship projects such as the Illinois State Lottery.”

 

Source: FocusGamingNews

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

Continue Reading
Advertisement
Comments

Asia

Hard Rock looks for real estate partner to develop IR facility in Japan

Niji Ng

Published

on

By

Hard Rock looks for real estate partner to develop IR facility in Japan
Reading Time: 1 minute

Hard Rock’s CEO for the Asia–Pacific region Ed Tracy said the company is seeking a construction or real estate partner in order to win Japanese IR license.

“We expect that even though it’s not outlined in the legislation that you have to have local partners, it just makes good sense,” Mr Tracy said in an interview with Bloomberg Television and added: “Significantly in Japan real estate costs are pretty high on a global scale, so a real estate partner would be great, and obviously a construction partner. That’s kind of the starting point.”

The Hard Rock executive also explained that the company, which “has significant content and technology partners that are Japanese based,” is focused on developing its IR in Hokkaido: “Our evaluation shows us that Tomakomai city is exactly the right place… We’ve been forming partnerships there and we’ve been working very hard with a tourism company,” he said.

 

Source: focusgn.com

Continue Reading

Gambling in the USA

William Hill and SBTech receive Mississippi sports betting licenses

Niji Ng

Published

on

By

William Hill and SBTech receive Mississippi sports betting licenses
Reading Time: 1 minute

SBTech and William Hill, two of European betting giants, have obtained sports betting licenses in Mississippi. The new license will allow them to manufacture and distribute sports betting platforms in the state to land casino operators.

William Hill USA will be working with casino operator Penn International Gaming on sportsbooks for five of its properties, with the Hollywood Casino Gulf Coast and Boomtown Biloxi casinos launching sports betting.

West Virginia sports betting will start legal sports betting from September 1, the fifth US state to legalise sports betting.

Penn National Gaming will also launch its Hollywood Casino at Charles Town Races, powered by the US division of William Hill, in West Virginia, the first of its kind in the state.

 

Source: reviewed-casinos.com

Continue Reading

Asia

Vietnam to cut hassles for industries, including gambling industry

Niji Ng

Published

on

By

Vietnam to cut hassles for industries, including gambling industry
Reading Time: 2 minutes

Vietnam’s Ministry of Finance (MoF) has proposed a series of cuts to bureaucracy and red tape hassles for a wide range of industries, including the betting, casino and lottery industries.

The MoF is believed to have proposed a cut of around 51.4 per cent of the business investment commissions under its control. It would also modify 16 decrees, which could be beneficial for insurance, gaming, accounting, customs and securities verticals.

The outlets did not specify exactly what could be stripped out or amended. However, the mere fact that the MoF wants to make monumental changes is a step in the right direction. It has the potential to reinvigorate the gambling industry and comes after regulators have made several changes to gambling-related legislation.

Vietnam approved a measure last December that would allow locals to gamble in two casinos during a three-year trial programme. Currently, casinos are only open to foreign gamblers. While the casinos have yet to be designated, it is believed that the Phu Quoc resort as well as a project in the Quang Ninh province could be included in the pilot programme.

More recently, the country gave sports betting a nod. In May, it approved new gambling regulations that now cover a variety of sports and would see new players enter the industry. The law is expected to take effect January 1 of next year and would provide the framework for a five-year pilot programme that allows local gamblers to place bets on international soccer games, as well as horse- and dog-racing.

Vietnam also loosened its grip on the casino industry in May when it awarded its first casino license in more than a decade. That license went to Laguna Lăng Cô for its $2-billion resort project in the Thua Thien Hue province. The resort initially opened five years ago, and has been hoping ever since to be granted a casino license. Even though it has the license in hand, Laguna Lăng Cô is not yet dealing cards or handing out chips. The casino would not be ready until 2022.

 

Source: calvinayre.com

Continue Reading
Advertisement
NSoft
Advertisement
BetConstruct

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.