Bettson boardroom rupture
Blood on the carpet: A week after Betsson was announced that CEO Pontus Lindwall had “completed his assignment” and that the company had embarked on a search for his replacement, it announced yesterday the resignation of chairman Patrick Svensk with immediate effect after the company’s major shareholders said they “no longer had confidence” in him. […]
Playtech sets sights on South and North America
The top line – H1 Revenues were down 4% YoY to €457.4m, AEBITDA was up 14% on constant currency to €124.1m and adjusted post-tax profits were up 1460% to €54.6m. Retail closures in Italy were offset by 95% revenue growth to €123.4m and 118% EBITDA growth to €51.6m for Snaitech. On the B2B front revenues […]
DraftKings’ BetMGM conundrum
No stranger to overly populated conference calls with bankers and lawyers, DraftKings is in a race to gain scale and there is some sound logic to the $22.4bn bid for Entain. Ownership would give it a much wider global footprint, bringing both expertise and technology alongside between £850-900m ($1.17-1.24bn) in forecast EBITDA for 2021. In […]
DraftKings bid for Entain – reaction
The top line Late last night, UK time, Entain released a further statement clarifying the terms of the offer received from DraftKings. It said that an initial offer of £25 a share was rejected and that a renewed offer was received on 19 September worth £28 a share or ~$22.4bn. This offer consisted of 630p […]
Say it quietly – 888’s U.S. avoidance tactics
888 made all the right noises last week about its U.S. ambitions, even as the deal to conduct a reverse takeover of William Hill points in a very different direction. All the usual cliches about action speaking louder than words and what a company doesn’t say being as important about what they do say can […]