Greece says recovery is being set back by debt restructuring talk

first_img Greece says recovery is being set back by debt restructuring talk by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads KCS-content Tags: NULL whatsapp Show Comments ▼ Sharecenter_img whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Sunday 23 January 2011 10:55 pm GREECE’S central banker said yesterday that talk of debt restructuring is hurting the country as it struggles to exit the fiscal crisis that has shaken the eurozone.“I believe that even mere talk of debt restructuring hurts the country,” Bank of Greece governor George Provopoulos told local Greek press.He said the negative impact of a debt restructuring would far exceed the short-term pain caused by the austerity measures Greece is implementing.“The political and economic impact of debt restructuring would far exceed the short-term pain of fiscal adjustment. Debt restructuring would spark an uncontrollable chain reaction which would start a new, long-term cycle of a lack of credibility for the future of Greece’s economy,” he said. last_img read more

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Lansley stands by NHS reforms

first_img whatsapp Lansley stands by NHS reforms whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof Sunday 30 January 2011 11:09 pm ANDREW Lansley, the health secretary, yesterday admitted that his plans to shake-up the NHS carried a certain degree of risk, but insisted the real danger was putting reform on the back burner. He said the coalition would continue to increase spending on health in real terms, but that the NHS still needed to be overhauled. “We don’t get the results we should compared with other European countries; if we did we would save thousands of lives,” he told the Andrew Marr Show.Health unions have hit out at the plans, due to be debated by MPs today.The Health and Social Care Bill, published earlier this month, will see consortia of GPs control of most of the NHS budget from 2013, with responsibility for “buying in” the bulk of hospital services for their patients.All 151 primary care trusts and strategic health authorities will be disbanded under the plans.Lansley (pictured) said: “I didn’t say there wasn’t risk. Of course there’s risk because there’s change. But actually if we don’t change, the greater risk is that these problems that we have at the moment that we have to deal with won’t be solved.”The reforms would result in a redundancy bill of £1bn, he said, but savings would reach £5bn over the course of the parliament. center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia KCS-content Show Comments ▼ Share Tags: NULLlast_img read more

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Redrow beats crash concerns

first_img Share KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Thursday 17 February 2011 8:05 pm Redrow beats crash concerns whatsappcenter_img Housebuilder Redrow defied worries of a house price crash yesterday by returning to profit, boasting to the market that its shift towards traditional family homes has paid off. The FTSE 250 firm posted a £8.5m pre-tax profit for the last six months of 2010, compared to a £8.7m loss last year, with a 15 per cent rise in revenue to £216.1m. However, economists are predicting another tough year for the housebuilders with muted growth at best. whatsapp More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Show Comments ▼ Tags: NULLlast_img read more

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Top Goldman man quits to join Hayward

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman files for divorce after seeing this photoMisterStoryOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressFacty Vroom20 Worst Cars Of The 1970s, According To Americans [Gallery]Facty VroomForbes14 Richest Black Billionaires RankedForbesSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe GOLDMAN Sachs’s head of UK investment banking is leaving to move on to an investment opportunity with former BP chief executive Tony Hayward, according to sources familiar with the matter.Julian Metherell (pictured), who has been with Goldman since 1999, is an oil and gas specialist whose clients included BP, Centrica and Petrofac.One senior banker called the move “a bit of a blow” for Goldman, adding that Metherell was a “key, central figure” for the firm’s oil and gas deals.Another banker, however, said that his departure is “a disappointment, but manageable” for the bank, which recently hired Alastair Maxwell from Morgan Stanley as a managing director in oil and gas and Brett Olsher from Deutsche Bank as a managing director in mining.During his time at Goldman, Metherell’s deals included Centrica’s £1.3bn takeover of Venture, Talisman Energy’s £1.2bn offer for Paladin Resources, the sale of BP Chemicals and the merger of Norsk Hydro’s oil and gas operations with Statoil.He was promoted to partner at the firm in 2006 and worked for a spell in its New York headquarters. Before joining Goldman he had a career in the British army, after which he worked at investment bank Dresdner Kleinwort before its takeover by Commerzbank.Goldman Sachs declined to comment. whatsapp Share Monday 4 April 2011 8:34 pm Top Goldman man quits to join Hayward center_img whatsapp KCS-content Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Show Comments ▼last_img read more

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Outgoing ADM chief criticises government over departure

first_img Benedetto Mineo takes the helm at Italian regulator Outgoing ADM chief criticises government over departure Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 13th August 2018 | By contenteditor Casino & games Regions: Europe Southern Europe Italy Email Address Topics: Casino & games People Sports betting Strategy Poker Giovanni Kessler has hit out at the decision by the Italian coalition government to remove him as head of national gambling regulator Agenzia Dogane Monopoli (ADM).Last week, it was confirmed that Benedetto Mineo will head up the ADM, but Kessler (pictured) has criticised the move, saying it “jeopardises impartiality”.Kessler also accused the government of “political cleansing”, adding that he was “reset” from his role at the ADM.“I was reset by the government as head of the ADM on the basis of a real or alleged party membership,” Kessler said, according to PressGiochi.“[There was] no evaluation of skills, projects, results. A political cleansing spoils system.”The change comes after the Italian government last week also signed off on the Lega-5Star ‘Dignity Degree’, which includes new laws that will ban gambling advertising in the country.The changes will not come into full effect until January 1, 2019, and operators will have until June 30 next year to comply with changes, but the move has led to widespread criticism.Maarten Haijer, the secretary general of the European Gaming and Betting Association, branded the ban on gambling advertising as impractical and “counterproductive”.Paddy Power Betfair has also spoken out against the ban.Speaking after the bookmaker last week unveiled its first-half results, chief executive Peter Jackson said the firm is seeking to achieve “podium position” in all regulated markets where it is active, including Italy.Although Jackson said while this could be possible through organic growth and mergers and acquisitions, the ad ban could hamper progress and it could be forced to pull out of the region.“I guess, as a last resort, if you couldn’t make any of those things happen, then you might choose to exit the market,” Jackson said, according to The Times. “It’s quite tough in Italy when you can’t advertise to grow.” Tags: Card Rooms and Poker Online Gambling OTB and Betting Shopslast_img read more

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TAB brand replaces UBET across Australia

first_img UBET customers transferred to TAB in the biggest move since last year’s Aus$11bn Tabcorp-Tatts merger Topics: Sports betting TAB brand replaces UBET across Australia Betting brand UBET has ceased to operate across Australia from today with customers transferred to TAB in the biggest consumer-facing shake-up since the Tabcorp-Tatts Aus$11bn merger a year ago.Tatts’ UBET brand will disappear from Queensland, South Australia, Tasmania and the Northern Territory, where Tatts held exclusive retail betting licences. All its venues will be rebranded, and sponsorship agreements changed to the TAB brand, alongside the UBET app and website.The merging of the two brands means that TAB – already active in Victoria, New South Wales and the Australian Capital Territory – is now available in seven of the eight Australian states. The changes to around 1,300 retail properties will be completed by the end of March.The company said it believes former UBET customers will benefit from a more comprehensive service, such as the addition of Sky Racing content already available on TAB.“The changing of brands from UBET to TAB is one of the largest customer rebranding exercises in recent history in Australia and is a significant key milestone in the post-merger integration of the former Tatts operations into Tabcorp,” said Adam Rytenskild, Tabcorp’s managing director of wagering and media.“We have already made a number of significant changes in the UBET states. These have included the rollout of our digital commissions model for venues and substantial fixed-odds improvements.“The rebranding is the first significant customer-facing change and a key step in our effort to improve the performance of the UBET business.”Tatts launched UBET in 2015 to replace its former TattsBet brand across the four states where it was operational. UBET’s launch coincided with high-profile partnerships with AFL Aussie Rules football teams Port Adelaide and Gold Coast Suns and Australia-based touring car championship V8 Series.Plans to merge UBET with TAB were announced when Tabcorp and Tatts combined last December, with Tatts shutting down its Luxbet online betting business just days after the deal completed.Tabcorp’s financial results for the year to June 30, released in August, showed that TAB’s revenue rose 2.5%, while UBET’s fell 0.7% despite a better second half that saw its first revenue growth since 2015. Total wagering revenue was at $2.19bn, with EBIT at $261.7m.In a statement at the time, Tabcorp CEO David Attenbrough said: “[UBET] has had hard years of decline, it’s got a weak brand … it didn’t have scale, it didn’t have the range of products and investment required for it to compete.“The stronger performance of TAB relative to UBET highlights the opportunity to improve the UBET business across its digital and retail channels, products and yield management.”Tabcorp said it had delivered initial merger synergies of $8m in earnings before interest, tax, depreciation and amortisation in the 2018 year. It is aiming for $50 million in synergies in 2019 and said it remains on track to deliver $130m in EBITDA by the 2021 financial year. Regions: Oceania Australia Subscribe to the iGaming newslettercenter_img Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 17th December 2018 | By contenteditor Email Addresslast_img read more

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New Dutch figures show surge in illegal online gambling

first_img30th January 2019 | By contenteditor Legal & compliance Email Address Survey commissioned by Holland Casino shows 20% rise in participation ahead of Remote Gaming Bill’s returns to parliament next week Regions: Europe Western Europe Netherlands Tags: Online Gambling The number of people gambling illegally online in the Netherlands has grown by 20% in the last two years, according to a new report commissioned by Holland Casino.Just a week before the issue of legalising online gambling returns to the Dutch Senate, a survey of 18,000 citizens conducted by research and strategy consultancy Motivaction found that 1.8m people are now betting via unlicensed sites in the Netherlands – 300,000 more than 2016.Despite the rise in the number of players, Motivaction found that the market remains worth around €600m annually.Two thirds of frequent players – judged to be those that gamble at least seven times a year – would rather play with a licensed operator. Motivaction suggests that the Dutch Treasury is missing out on up to €175m in tax revenue every year after the progress of legislation that would introduce a regulated system stalled in the national legislature almost three years ago.Erwin van Lambaart, director of Holland Casino – the state-owned company which has the legal monopoly on gambling in the Netherlands – said he hopes lawmakers will legalise online gambling to allow licensed operators to thrive.“More and more Dutch people gamble totally unprotected on the internet,” he said. “They do so with international providers who are established on sunny holiday islands with dubious regulations.“Moreover, these companies do not pay gambling tax and that is unfair competition.”Last June, it was revealed the country’s coalition government intends to resume the process with the aim of introducing new regulation by 2020.The Senate will debate the Netherlands’ Remote Gaming Bill on February 5, with the legislation having been passed by the House of Representatives in 2016.It is believed a slim majority of Senators will back the legislation, which would create a regulated market where operators are able to apply for licences. Last year, Sander Dekker, Minister for Legal Protection, proposed additional measures that should significantly reduce the risk of problem gambling.Looking to stem fears of a rise in addiction, Van Lambaart said that Holland Casino has developed technology that can identify problem gambling.“Smart algorithms in the software allow us to immediately see if someone’s playing pattern changes drastically,” he explained.Dutch gambling regulator Kansspelautoriteit (KSA) issued a record €1.7m (£1.5m/$1.9m) in fines to companies that breached rules and regulations throughout 2018.The regulator handed out a total of 23 sanctions over the course of the last year, including seven administrative penalties, 12 penalties and four charges under administrative coercion.Betclic Everest Group’s Bet-At-Home, Betsson subsidiary Corona, Mr Green operator MRG, CyberRock Entertainment and its Honeydew subsidiary, and William Hill were all found to have illegally targeted Dutch players online. Topics: Legal & compliance Subscribe to the iGaming newsletter New Dutch figures show surge in illegal online gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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Optimove iGaming Pulse – April 2019

first_img Tags: Mobile Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter iGamingBusiness.com has agreed a new partnership with marketing and customer retention specialist Optimove to bring readers exclusive insights into player habits from a range of different markets, across all igaming verticals. In April’s edition, research lab team leader lead Omer Liss reports on an uptick in player activity and investigates the impact of the first leg of Tottenham Hotspur’s Champions League semi final against Ajax Amsterdam.The below data is available here exclusively before being made publicly available next week.Looking at Optimove’s iGaming Pulse for April, we see that just in time for Spring, bettors are waking up from their winter slumber.Following a slower March, sports and casino operators are showing monthly revenue per player numbers up 17% on average (from €76 to €88.) There’s also a steadily rising trend in the new players retention rate from the beginning of January 2019 from 37% to 40%.Putting seasonality aside, monthly deposits show a year-on-year lift of 27% from April 2018 to April 2019, and the new retention rate shows a 39% uplift compared to April last year. Conversion is up 47% year-on-year.In sports, monthly revenue per player shows an increase from €61 to €73 on average: a 20% uplift per player, which may be explained by players’ activities around the quarter finals and one semi-final game in the Champions League which occurred during April.When comparing all countries’ average deposit amount to the Netherlands’ average deposit amount, we see that in the Netherlands, the average deposit amount is almost 60% higher than the total average for all countries.That staggering figure pales in comparison to the UK’s average deposit amount which was 130% (!) higher than the total average for all countries. Both of these metrics can be explained by the Champions League semi-finals game between Ajax and Tottenham, which occurred on the very last day of April.Another interesting sports insight shows a continuously rising trend in new retention rate following a drop in August 2018 due to the aftermath of the World Cup. The rise is steady at 48% since August 2018, and 13% year-on-year.In Casino, we see the average number of monthly deposits per player is up 16% year-on-year.The monthly revenue per player is showing a rising trend in general, going up to €100 per player in April 2019, compared to €77 in April 2018. There’s a rising trend in monthly revenue per player, and at the same time, a steady average deposit amount. One explanation for this could be that players are making smaller deposits more often, meaning they are more active and engaged with brands.Another interesting observation is the mobile bet rate which shows an overall rising trend of 8% year-on-year, and 2% month-on-month. Over all, more than half of the bets (52%) made this month were made via mobile. The mobile bettors ratio is showing the same rising trend.KPI Close-up: Margins: Margins are determined by calculating the following:Margin = 1 – (win amount divided by bet amount)Simply explained, the margin is the profit an operator makes from any bet a customer places. A 10% margin means that for every 100 the bettor places, the operator makes 10.  While the margin for sports betting is higher, casino betting has higher rollover, so in fact, operators profit more from their casino players than their sports players.Omer Liss: Omer Liss leads the Strategic Services research team at Optimove, helping leading marketers optimize their customer retention strategy. As a marketing data scientist, Omer has vast experience consulting clients, analyzing their customer data and revealing actionable, data-driven marketing insights. Omer holds a BSc in Industrial Engineering and Management, specializing in Information Systems.About iGaming Pulse: iGaming Pulse is an industry benchmark tool for the gaming sector. iGaming Pulse enables gaming operators to accurately assess their overall performance against industry-wide key performance indicators. Its figures are updated on a monthly basis. It enables gaming operators to gain a clearer understanding of how their KPIs compare against the rest of the industry, broken down by geography and game type. This type of data, which is made publicly available for the first time, provides operators with the ability to conduct comparative analysis and derive insight into how their performance compares with industry averages.iGaming Pulse comprises of data collected from over 200 online casinos and sports betting companies, including industry giants and boutique operators, providing an accurate, statistically significant sample of the industry. Access to this information is vital for operators that are limited to only their own data. Optimove’s iGaming Pulse is now fully accessible, ensuring operators will have a clearer overview of how they compare to the industry. Email Address iGamingBusiness.com has agreed a new partnership with marketing and customer retention specialist Optimove to bring readers exclusive insights into player habits from a range of different markets, across all igaming verticals. In April’s edition, research lab team leader lead Omer Liss reports on an uptick in player activity and investigates the impact of the first leg of Tottenham Hotspur’s Champions League semi final against Ajax Amsterdam Casino & games Regions: Europe UK & Ireland Western Europe Netherlands Optimove iGaming Pulse – April 2019 Topics: Casino & games Marketing & affiliates Sports betting Strategy 3rd May 2019 | By contenteditor Subscribe to the iGaming newsletterlast_img read more

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Enlabs reshuffles senior management with new COO and CFO

first_img Subscribe to the iGaming newsletter Email Address Enlabs reshuffles senior management with new COO and CFO 4th December 2019 | By contenteditor People AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Baltic-facing gaming operator Enlabs has made a number of changes to its senior management, including appointing George Ustinov as its new chief operating officer and Adam Jonsson as chief financial officer.Ustinov will move into his new role having previously served as CFO of Enlabs. He will oversee operational work in Enlab’s main markets, as well as head up its expansion efforts in new regions.Jonsson had been controller and head of investor relations at the operator since 2018 and will move into his new position having worked alongside predecesor Ustinov for the past year.“George has done a very good job as CFO and has gradually become more involved in the operational work,” Enlabs president and chief executive Robert Andersson said. “As we now prepare for the next phase of growth, I want George to be able to dedicate full time to developing the operational business as COO and deputy CEO.“Adam has already shown great competence in managing responsibility for many of the financial parts and, for the past year, has been part of the management team as responsible for investor matters, which is a natural step for him to assume the CFO role.”The appointments come after Enlabs last month posted record revenue for the third consecutive quarter, breaking the €10m (£8.5m/$11.1m) barrier for the first time. Revenue was up 32% year-on-year in the third quarter.Also last month, Enlabs announced that it had completed its acquisition of KDB Games, a land-based gaming business in Belarus, as part of its preparations to apply for an online gambling licence in the country. The deal, first announced in August, is worth around €127,000, with Enlabs to purchase all of the shares in KDB. Baltic-facing gaming operator Enlabs has made a number of changes to its senior management, including appointing George Ustinov as its new chief operating officer and Adam Jonsson as chief financial officer. Tags: Online Gambling Topics: People Strategy Regions: Europelast_img read more

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EGBA joins opposition to Swedish casino restrictions

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games The European Gaming and Betting Association (EGBA) has criticised the online casino restrictions set to come into force in Sweden next month as “not evidence-led” and warned they may do more harm than good for Swedish player protection.Proposed by Minister for Health and Social Affairs Ardalan Shekarabi, the restrictions would set an SEK5,000 (£401/€459/$495) mandatory weekly deposit limit and a SEK100 cap on bonuses from 1 June to the end of 2020.Maarten Haijer, secretary general of EGBA, said the restrictions could end up doing more harm than good.“We understand that politicians seek to reassure and protect their citizens during these difficult times, but the proposed gambling restrictions could actually harm more customers than they protect,” Haijer said. “Many Swedes are already gambling on unlicensed websites and these restrictions will make unlicensed websites – which don’t apply any limits – even more attractive to them.”EGBA said that the regulations were “not evidence-led” and the more effective way of preventing problem gambling during lockdown would be to focus specifically on at-risk customers. The Association cited data from Belgium, Denmark and Great Britain as well as H2’s global gambling forecasts, all of which it said proved online gambling has decreased “substantially”.“Rather than one-size-fits-all restrictions, which will have no effect on the majority of customers and jeopardise consumer protection for those they seek to protect, EGBA supports targeted measures, including tailored interventions, to protect those at risk of problem gambling at this time,” it said.EGBA echoed the Swedish Gaming Authority’s (Spelinspektionen) sentiments towards the rules, which the regulator said could have a negative effect on channelisation towards the licenced market in Sweden“The deposit limit could, as Spelinspektionen rightly warn, drive high-spending players towards unlicensed websites which undermine their consumer protection – these websites are readily available, easy to access and do not apply any limits or responsible gambling measures, including the country’s Spelpaus self-exclusion scheme,” EGBA added.Haijer concluded by saying that top-down regulation is rarely the most effective way to solve problem gambling issues.“We must remember gambling is human behavior, consumers will always make their own choices and top-down regulation rarely works. In this case, it could have detrimental or counterproductive effects by pushing more gambling onto unregulated websites.”Many businesses active in the Swedish market have also criticised the controls. Cherry warned that the controls could make it harder to track changes in customer habits and spending as players would move between operators more frequently.AB Trav och Galopp (ATG) said it supported efforts to improve safeguards, though also noted that it has seen no increase in unhealthy play among its customer base.Henrik Tjärnström, chief executive of Unibet operator Kindred, called the proposals “an open invitation to illegal gambling sites”, while  Svenska Spel chief executive Patrik Hofbauer argued existing regulations set out each operator’s responsibilties to customers, meaning that additional controls were unnecessary. 18th May 2020 | By Daniel O’Boyle Subscribe to the iGaming newsletter EGBA joins opposition to Swedish casino restrictions Regions: Europe Nordics Sweden Tags: Online Gambling Topics: Casino & games Legal & compliance The European Gaming and Betting Association (EGBA) has criticised the online casino restrictions set to come into force in Sweden next month as “not evidence-led” and warned they may do more harm than good for Swedish player protection. Email Addresslast_img read more

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