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Tatts Group reports a 3.6 per cent rise in gambling revenue

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Tatts Group reports a 3.6 per cent rise in gambling revenueReading Time: 1 minute

Tatts Group, an Australia-based betting and gaming provider, has announced its annual financial results for the year ended 30 June 2018.

The company’s revenue has increased by 3.6 per cent to A$2,866.6m. Lotteries revenue and gaming services revenues were the main factors for the revenue increase.

The lotteries revenue was $2,112.2m, up 4.9 per cent, benefitting from a favourable jackpot sequence compared to the prior financial year. Gaming services revenue grew by 2.1 per cent, supported by increases in value-added MAX and TITO services.

Wagering revenue, however, was $530m, marginally down by 0.5 per cent. Totalisator revenue was $262.8m, down 6.5 per cent, but there was a 5.6 per cent increase in fixed odds racing revenue and an 11.6 per cent increase in fixed odds sports revenue. UBET revenue growth turned positive in the second half of the year up 1.2 per cent and UBET fixed odds revenue growth improved to 9.6 per cent.

Turnover from digital channels increased by 12.9 per cent, assisted by a successful football World Cup campaign and new products such as UBET’s Tappy. As part of the integration of the Tabcorp and Tatts businesses, Tabcorp has commenced deploying its systems and processes into UBET’s operations. Tabcorp’s TAB wagering brand is planned to be rolled out into the UBET states after the Spring Racing Carnival in the 2019 financial year.

 

Source: Tatts Group


Source: European Gaming Media

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Mobile Betting Bill Fails to Progress Through New York Assembly

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Senator Joseph Addabbo’s mobile betting bill has failed to progress through the New York Assembly. The legislative session saw S17 fail to progress beyond the Assembly Standing Committee on Codes.

Addabbo tweeted that he saw no clear reason why the state could not implement mobile sports betting in 2019. Failure to do so would see the state miss out on around $75m in revenue, funding for education, and both job creation and retention.

“NY will be stuck like a disabled car on the shoulder, while we allow an illegal sports betting business in our state thrive and idly watch other neighboring states pass us up with enormous revenue gains from mobile sports betting,” Addabbo said.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mobile Betting Bill Fails to Progress Through New York Assembly

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Eldorado Resorts to Buy Caesars Entertainment Corp

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Eldorado Resorts to Buy Caesars Entertainment CorpReading Time: 1 minute

 

Eldorado Resorts Inc., the US based casino operator, has agreed to merge with Caesars Entertainment Corp through a $17.3 billion cash and stock deal.

The deal, which is expected to be announced soon, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly between Eldorado and Caesars shareholders.

An Eldorado spokesman said the company did not comment on rumours or speculation. Caesars did not immediately respond to requests for comment.

The combination of the two companies would create a serious competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Eldorado Resorts to Buy Caesars Entertainment Corp

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Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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Nagasaki Governor Reaffirms His Support for Sasebo IR BidReading Time: 1 minute

 

Nagasaki Governor Hodo Nakamura has reaffirmed his support for the Sasebo IR bid and urged the national government not to delay too much in issuing its IR regulations and establishing the national regulatory framework.

While Sasebo’s bid is not linked to a specific timeline, the local government does wish to move forward quickly, especially now that other competing bids could emerge from the Kyushu region.

In related news, Nagasaki IR Business Connect Seminar is going to be held with the participation of international operators and investment groups.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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