Flutter Entertainment is the latest gambling industry giant to confirm mass redundancies, with as many as 1,400 jobs expected to be lost. The Betfair and Paddy Power owner will make the cuts across their UK and Irish operations. They amount to around 15% of their total workforce. A statement made by the firm pointed the […]
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Matchbook Completes Betdaq Acquisition in Bid to Become UK’s Premier Betting Exchange
The Betfair Exchange could have major competition on its hands after Matchbook completed the acquisition of Betdaq this week. Although the fee paid has not been disclosed, it’s thought that the deal will see Matchbook also acquire Racecourse Data Technologies, a software platform that enables on-course bookmakers to hedge positions and balance books automatically within […]
Bookies Turn Their Backs on Horse Racing as Sponsorship Revenue Plummets 17%
UK horse racing is facing another financial crisis as bookmakers and betting sites turn their back on the sport. Analysis by the Racing Post has confirmed that operators have cut their sponsorship spending in racing by 17% – figures released almost a year to the day since the government announced their Gambling Tax hikes. And […]
Rank Group Share Price Plummets as £5 Million Gambling Commission Fine Confirmed
The stock market valuation of the Rank Group fell by more than 6% after it was confirmed they will pay a £5 million fine to the Gambling Commission. The Grosvenor Casino and Mecca Bingo owner was trading at £73.40 per share at market close on Tuesday evening, but as news of the regulatory settlement broke […]
Casino Game Supplier Takes on HMRC In Landmark £13.2 Million Case… And Wins
It’s not often that the HMRC gets taken to court and loses. But that’s exactly what happened last week when Jumpman Gaming, the operator of online casinos in the UK and overseas, managed to defeat the government’s tax department in the appeal court. The decision saved them from having to pay an eye-watering £13.2 million […]