Gambling group expected to take hit from new regulations in UK and Netherlands
The owner of Ladbrokes , Coral and Partypoker said online net gaming revenue inched lower 2% in the three months ended March 31st, while total group net gaming revenue was up 6%. Photograph: Aidan CrawleyOnline gaming revenues at Ladbrokes owner Entain were in advance of expectations in the first quarter, helped by an increase in customers even as the British gambling group grappled with stiff competition and regulatory pressures in its main markets.
Gambling companies have repeatedly flagged regulatory pressures, with Entain expecting its annual profit to take a hit from some regulations in the UK and Netherlands at a time when competition in online gaming has stiffened. The Flutter Entertainment rival, which is searching for a new CEO after the abrupt departure of Jette Nygaard-Andersen in mid-December, posted a 7 per cent fall in total revenue in its largest market, UK & Ireland.
The owner of Ladbrokes, Coral and Partypoker said online net gaming revenue inched lower 2 per cent in the three months ended March 31st, while total group net gaming revenue was up 6 per cent.Consensus provided by the company showed that analysts on the sell-side expected online net gaming revenue on a pro forma basis to be down between 4 per cent and 6 per cent.
Horse trainer turned to crime to feed drug habit after losing job and accommodation during Covid, court hearsYour top stories on Wednesday: Irish spend more on alcohol at home than in pubs; public transport workers report death threats
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Irish gambling company Flutter loses $1.2bn due to once-off costsPaddy Power owner says revenues grew by 25 per cent to $11.8 billion last year
Read more »
More than €2m spent so far on delayed gambling authorityMore than €2m has been spent so far on the Gambling Regulatory Authority of Ireland, even though the body has yet to get up and running due to delays in legislation.
Read more »
Flutter Entertainment’s roots in Ireland, but gambling firm’s future is in the United StatesIrish revenues from stable of companies up 8% above $300m but US subsidiary clocked income at $4.4bn
Read more »
Lottoland says gambling Minister refusing to meetCompany fears betting and win caps in new law could hit its business
Read more »
What To Wear In The Changeable Spring WeatherOnline
Read more »
Five Minutes With… Dagmar Brusse, Creative Director Of RitualsOnline
Read more »