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Tabcorp to exit Sun Bets

Niji Ng

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Tabcorp to exit Sun Bets
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Online gaming company Tabcorp has signed an agreement to exit Sun Bets, which was the company’s joint venture in the UK with News UK. UK-facing Sun Bets, which was a joint venture with News UK.

Sun Bets will stop trading and Tabcorp will pay £39.5m (€44.2m/$51.4m) to exit the venture.

The Sun Bets was launched in 2016 under the branding of News UK newspaper title The Sun.

However, the platform has not performed as expected during its short lifetime and reports last month suggested Tabcorp was close to pulling out of the venture.

David Attenborough, managing director and chief executive of Tabcorp, said: “The performance of Sun Bets has been below expectations and we do not expect a material improvement over the next 18 months. As such, we have reached an agreement with News UK to exit the agreement.

“While we didn’t get it right, we have taken valuable learnings from the Sun Bets start-up process and operations which will inform our approach across our portfolio.”

“I would like to acknowledge the Sun Bets team for their efforts in building the business from start-up phase.”

“We continue to have a strong relationship with News Corporation.”

Today’s confirmation comes after Tabcorp last year said it was to undertake a strategic review of its business after being hit by challenging trading conditions.

In February, Tabcorp also reported a 58.2 per cent drop in first-half statutory net profit after tax to Aus$24.6m, while NPAT before significant items also fell 20.2 per cent to Aus$82m.

A spokesperson for News UK said: “The Sun is the No.1 newspaper and digital news brand in the UK and we have launched many successful brand extensions such as Sun Bingo and Dream Team.”

“We are increasingly confident in the reach and power of the brand and will firmly remain in the betting and gaming business.”

“We now look forward to executing our vision.”

Visitors to the Sun Bets site are now met with a message that reads: “Tabcorp UK Ltd has ceased providing gaming services on behalf of Sun Bets. Please withdraw any funds you may hold with us immediately.”

 

Source: igamingbusiness.com

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.

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Worldpay extends real-time payouts to over 50 countries

George Miller

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Worldpay extends real-time payouts to over 50 countries
Image Source: videoblocks.com
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New disbursement solutions and wider global reach enhance customer experience in increasingly prevalent sharing economy

 

Worldpay, Inc., a global leader in payments, has announced the launch of new dynamic payout solutions that give multi-national eCommerce businesses more choices to disburse funds to partners and customers – quickly, easily and across country borders.

Worldpay‘s dynamic payout solutions combine the enhanced Worldpay Bankout solution, which now delivers 154 direct bank disbursement destinations (up from 65), and Worldpay FastAccess – enabled by Visa Direct.

With these versatile payout options, partners and customers need no longer wait for days to receive funds or refunds as they now can obtain them via card in near real-time – through mobile wallet or directly to a local bank account.

Bankout is an ideal solution for businesses needing to make a large number of global payments to – or on behalf of – their customers and suppliers. With 89 new local markets, Worldpay now provides seamless cross-border payouts for businesses in local currencies without the expense of making multiple international bank transfers.

Dynamic payouts allow businesses to make faster, seamless card-based payouts in near-real time within a maximum of 30 minutes. Building on its launch in the United States last year, FastAccess is now available to Worldpay customers in over 50 new markets across Europe and Asia.

A wide-range of industries benefit from these new flexible payout solutions. For example, travel and tourism companies and marketplaces can pay out funds to accommodation vendors or disbursements to travellers in a variety of countries and currencies; gaming businesses can provide near-instant payouts to customers; insurance companies can save costs by replacing local checks with bank transfers; and marketplaces can allow independent sellers to retrieve funds more quickly.

Shane Happach, executive vice president, Head of Global Enterprise eCommerce at Worldpay, Inc., said: “As more and more companies send payments at lower values, cross-border, it will become a competitive differentiator to send quicker payouts to consumers and inexpensive disbursements to vendors and suppliers. It is estimated that by 2025, the sharing economy will generate Europe-wide revenues worth over €80bn and facilitate nearly €570bn of transactions[4]. At the heart are seamless, transparent, secure payouts, which can be made via card, mobile wallet or bank transfer in any currency, anywhere in the world.”

 

About Worldpay:
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global integrated omni-commerce. With industry-leading scale and an unmatched integrated technology platform, Worldpay offers clients a comprehensive suite of products and services globally, delivered through a single provider.

Worldpay processes over 40 billion transactions annually through more than 300 payment types across 146 countries and 126 currencies. The company’s growth strategy includes expanding into high-growth markets, verticals and customer segments, including global eCommerce, Integrated Payments and B2B.

Worldpay, Inc. was formed in 2018 through the combination of the No. 1 merchant acquirers in the U.S. and the U.K. Worldpay, Inc. trades on the New York Stock Exchange as “WP” and the London Stock Exchange as “WPY.” Visit us at https://www.worldpay.com/global/

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GambleAware promises funding to software that blocks gambling websites and apps

Niji Ng

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GambleAware promises funding to software that blocks gambling websites and apps
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GambleAware, a leading charity working to promote responsible gambling, has promised funds to a software called Gamban, that will block gambling websites and apps.

The charity said the funding is as part of its treatment offering to people suffering with problem gambling.

Gamban software will acts as a firewall in the access to both licensed and illegal gambling sites. This way, users can easily exclude themselves from betting and gaming online or via apps.

GambleAware said it will provide funding to the software so that it can continue to be available for free to use and encourage more people to use it.

Marc Etches, chief executive of GambleAware said: “Blocking software can be an effective tool to help those at-risk of getting into difficulties resist the ubiquitous gambling adverts and special offers that surround us these days.

“This report reinforces the point that such tools work best as part of a treatment package tailored to the individual rather than being effective in isolation. This evaluation gives us the confidence we needed to fund the use of this software for anyone who is referred to our treatment services.”

The move comes ahead of this year’s Responsible Gambling Week, which will run from November 1–7. Aspers, Mecca, William Hill and Cashino are among the top brands to have pledged their support to the initiative.

GambleAware has also urged parents and families to teach young people about the risks associated gambling.

 

Source: iGamingBusiness

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Sky Bet appoints new CEO as regulator okays acquisition by Stars

Niji Ng

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Sky Bet appoints new CEO as regulator okays acquisition by Stars
Photo Source: gamblinginsider.com
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Ian Proctor has become the CEO of Sky Betting and Gaming (SBG) after the UK’s competitions regulator its $4.7bn (£3.6bn/€4bn) takeover by The Stars Group. Proctor replaces Richard Flint, who had been working as the CEO for 10 years, in the top post.

The CMA will publish a full explanation of its decision to rubber-stamp the deal next week.

Stars, which struck the acquisition deal with CVC Capital Partners and Sky PLC, said that its integration plans, including “the delivery of expected cost synergies,” would now be executed.

Ashkenazi has previously said that the takeover would “dramatically improve The Stars Group’s revenue diversity, creating a balanced spread across poker, casino and sportsbook with a broad geographic reach.”

Stars also confirmed that it had appointed Andy Burton as senior vice-president of its global sports platform division, as well as Vaughan Lewis as group director of investor relations and corporate communications.

“We believe these appointments position us well to deliver our strategy to become the world’s favourite iGaming destination,” Ashkenazi said.

Flint added: “I am confident that the new management structure, which includes an operational board for SBG, will allow us to maintain our unique culture that has delivered success over the years and continue delivering market share gains in the UK online betting and gaming market, building on our position as the UK’s most popular online betting brand.”

 

Source: iGamingBusiness

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