BEST OF THE BROKERS

first_img ASSOCIATED BRITISH FOODSMorgan Stanley rates the retail group “equal-weight” with a target price of £11. The broker has trimmed its earnings estimates by 2.5 to three per cent over the next three years and cut its target price by 50p following the firm’s recent results. Morgan Stanley believes that UK like-for-like sales are now flat, with sustained double-digit growth in Europe, and expects margin contraction of around 1.2 percentage points this year.INMARSATCitigroup has started covering the satellite communications firm with a “buy / medium risk” rating and a 12-month target price of 850p. The broker sees Inmarsat as a relatively low-risk play on a maritime and civil aerospace recovery, given its exposure to emerging markets. Citi adds that Inmarsat’s land mobile division is a play on global instability, which it thinks can lift first-half numbers thanks to unrest in the Middle East.HMVUBS rates the struggling retailer “neutral” and has cut its 12-month target price from 17p to 25p. The broker forecasts that HMV’s net debt will increase to more than £130m in the first half of 2011, making it likely to breach covenants. UBS thinks that the firm would be in a more stable financial position if it issued equity to pay down its debts, given the uncertainty around its declining sales. BEST OF THE BROKERS by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Wednesday 2 March 2011 7:43 pm Show Comments ▼ whatsappcenter_img Share KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap whatsapp Tags: NULLlast_img read more

US unit drives Balfour profits

first_img US unit drives Balfour profits Show Comments ▼ KCS-content More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org CONSTRUCTION firm Balfour Beatty saw its underlying pre-tax profits jump to £319m last year.The infrastructure and maintenance group increased profits in the year to 31 December 2010 by 20 per cent, beating market expectations.The strong improvement was bolstered by its acquisition of US firm Parsons Brinckerhoff two years ago.The consolidation of the professional services unit helped to boost its full-year results for the first time, accounting for 13 per cent of growth. Yet weak construction markets in America and the UK also wiped off 11 per cent of underlying revenue. Balfour Beatty’s order book increased by eight per cent to £15.2bn over the year, with £7.2bn of work to be carried out in 2011.Its average cash for the year was a strong £435m, despite an unwinding of negative working capital due to lower construction volumes. Management at the firm approved a six per cent increase in dividend payments on last year, giving a full-year payout of 12.7p.Analysts said the results showed strong progress could be made this year, despite potentially tough trading conditions.Andy Brown, analyst at Panmure Gordon, said: “Its financial position remains strong and the order book provides good revenue visibility. Immediate conditions remain tough, but the group expects to make further progress. We maintain our positive stance.”Balfour Beatty chief executive Ian Tyler said: “While we do not expect, in the short term, a meaningful recovery in the UK and US infrastructure markets, we expect to make progress this year.” Thursday 3 March 2011 7:33 pm center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Share whatsapp Tags: NULLlast_img read more

Paddy Power sees profit surge after World Cup and acquisition

first_img whatsapp Show Comments ▼ More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.com BOOKMAKER Paddy Power yesterday reported a 55 per cent rise in annual profits, helped by its expansion in Australia and World Cup betting. Pre-tax profits rose to €104.2m (£89.6m) in 2010 from €67.2m in 2009, the company’s results statement revealed.The 2010 figure included a full year’s contribution from Australian betting company Sportsbet.Paddy Power first bought 51 per cent of Sportsbet in 2009 and took full control of it in December 2010.The firm said almost two-thirds of its profits last year were generated outside of the Republic of Ireland.Chief executive Patrick Kennedy said: “We are pleased with the results and our marketing has been very effective. The big thing in the betting industry would be the relaxation of betting laws as the US Prohibition does not work.” whatsapp Sharecenter_img Paddy Power sees profit surge after World Cup and acquisition KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Monday 7 March 2011 8:36 pm Tags: NULLlast_img read more

Inflation in British stores still growing

first_imgTuesday 8 March 2011 7:41 pm whatsapp KCS-content Tags: NULL PRICES in British shops rose again in February, despite a slowdown in food price inflation, the British Retail Consortium (BRC) revealed today.Overall prices grew 0.7 per cent compared to January, when they increased by 0.6 per cent on December. Inflation in February rose to an annualised rate of 2.7 per cent, up from 2.5 per cent the previous month.“The good news is tough retail competition is keeping shop price inflation well below the wider consumer price index,” said the BRC’s Stephen Robertson. CPI inflation is expected to exceed four per cent in February.“Even so, non-food inflation would be much higher if the full impact of the VAT rise had been passed on to customers,” Robertson added.Weak consumer demand may be keeping a lid on food prices. “Food retailers have had to maintain promotions and price cuts at the high levels we saw in December and this has helped to mitigate some of the effects of the underlying inflation,” said Mike Watkins of Nielsen, which collates the data.Food price inflation measured 4.5 per cent year-on-year in February, down from 4.6 per cent in January. At the beginning of the year food prices jumped 1.6 per cent compared to December, but the monthly increase to February was only 0.3 per cent.“Food inflation appears to have stabilised for now despite on-going pressure from soaring global commodity costs,” the report said. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp Inflation in British stores still growing Share Show Comments ▼last_img read more

Google gets record privacy fine in France and email trouble in China

first_imgMonday 21 March 2011 8:13 pm Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman 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 AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp whatsapp SEARCH engine Google weathered two international spats yesterday, as France fined the online giant for breaching privacy rules and the firm blamed the Chinese government for interfering with its email service.France’s online privacy watchdog CNIL slapped Google with a €100,000 (£87,146) fine, CNIL’s biggest to date, for collecting data unfairly through its Street View mapping cameras last May. “We are profoundly sorry for having mistakenly collected payload data from unencrypted WiFi networks,” said Peter Fleischer, Google’s global privacy counsel.Meanwhile, Google said yesterday that Beijing authorities were behind interruptions to its Gmail service in China, after users complained of several weeks of slow or non-existent access. Show Comments ▼center_img Google gets record privacy fine in France and email trouble in China More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com KCS-content Tags: NULLlast_img read more

Integrity Gaming hails ‘solid growth’ in Q1

first_img Subscribe to the iGaming newsletter Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 24th May 2018 | By contenteditor Tags: Online Gambling Topics: Financecenter_img Integrity Gaming Corp., formerly known as Poydras Gaming Finance, has posted “strong growth” in the first quarter, with revenue up 6.9%. Revenue in the three months to March 31 amounted to $4.4m (€3.8m), up from $4.2m in the opening quarter of last year. Adjusted earnings before interest, tax, depreciation and amortisation remained relatively flat at $2.4m, while operating cash flow before changes in current non-cash working capital climbed from $944,000 to $976,000. Integrity also revealed that net loss was cut from $1.2m in Q1 of 207 to $900,000 this year. Peter Macy, chief executive of Integrity, said: “We achieved solid growth in revenue in the first quarter of 2018, reflecting our success at increasing our machine base, both through exclusive and non-exclusive products offerings, and optimising machines placements to achieve better unit economics. “We’re off to a good start for the year and we will continue to drive growth by actively managing our current machines, increasing our penetration with new and exclusive product offerings, adding new casinos to our roster, and introducing innovative games and technologies including igaming that will enhance our profile as a leader in the tribal gaming industry.”Related article: Integrity Gaming reveals mixed results for 2017 Integrity Gaming hails ‘solid growth’ in Q1 Integrity Gaming Corp., formerly known as Poydras Gaming Finance, has posted “strong growth” in the first quarter, with revenue up 6.9% Email Addresslast_img read more

Bet-at-home slapped with fine by Dutch watchdog

first_img Online operator was warned by regulator on two previous occasions Email Address Bet-at-home slapped with fine by Dutch watchdog Legal & compliance Regions: Europe Western Europe Netherlands 11th July 2018 | By contenteditor Topics: Legal & compliance Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Online operator bet-at-home has been fined a total of €410,000 (£362,000/$480,000) by the Kansspelautoriteit, the Netherlands Gaming Authority, after the regulator found that the online operator had targeted Dutch citizens without holding a gaming licence in the country.The Kansspelautoriteit said that bet-at-home offered games of chance to Dutch citizens between June 14 and October 11 last year.The regulator, which warned bet-at-home about its activities in 2012 and 2014, said it had received reports about the website apparently targeting Dutch citizens “via a television channel aimed at the Netherlands” in May last year.The watchdog added that fines of €210,000 and €200,000 were imposed on Bet-at-home.com Entertainment Limited and Bet-at-home.com Internet Limited respectively.“With regard to the other parties involved in the report, a warning is sufficient,” the Kansspelautoriteit said.The regulator added that the fines imposed are fair considering “the context” of Bet-at-home’s activities following the previous warnings. The website’s operators had been informed “on several occasions” of the rules and that their advertising activities would be monitored, the Kansspelautoriteit explained.A spokesperson for the Kansspelautoriteit added to iGamingBusiness.com: “Terminating the offence is the primary goal at all times. The enforcement action is first and foremost a means aimed at ending the violation of the laws and regulations. By imposing a punitive sanction, future violations… can be prevented.”The watchdog is continuing to impose its authority on operators as the Dutch market prepares to open up.The Dutch parliament’s lower house approved a Remote Gambling Bill in 2016, which will introduce an online gambling licensing regime in the country.The bill requires approval from the Senate and licensing is not expected to commence until at least 2019.In the interim, the regulator has vowed to continue to implement enforcement measures against operators targeting Dutch players. As of June 1 last year, the Kansspelautoriteit said it would expand its approach to enforcement to pursue any operators that are “specifically and unequivocally” targeting the Dutch market.Ahead of the Fifa World Cup in Russia, the Kansspelautoriteit pledged to crack down on illegal online gambling activities by focusing on underage betting and identifying unlicensed operators offering betting to Dutch citizens during the tournament.The Kansspelautoriteit spokesperson added to iGamingBusiness.com that the watchdog would report on the outcome of this clampdown in relation to the World Cup following the conclusion of this year’s tournament. The final will take place on Sunday.last_img read more

In defence of ideas

first_imgCasino & games Topics: Casino & games Legal & compliance Slots Original ideas are critical to success in any creative industry but proving ownership of those ideas can be difficult. Michael Browne uncovers the extent to which the law can offer protection.The protection of intellectual property (IP) is a key concern for many online gaming companies. But IP is a term that is often used loosely and without a proper understanding of the collection of disparate legal rights to which it refers.Some businesses might be surprised to learn that certain aspects of their casino games that they regard as their IP cannot be easily protected under English law.Protection of the general look and feel of a game often falls into this category. Conversely, there might be aspects of a game that can be protected with the benefit of the necessary legal insight and forward planning.Copyright isn’t the only game in town Copyright is often the first IP right that comes to mind when considering the protection of ‘visual’ material such as online games. In the UK, copyright protection extends to original graphic works, which can include the graphical output of online games.The entirety of a game’s GUI, as well as the individual graphic elements that comprise it, may well be protected in copyright. However, there are also important limitations to the protection afforded by copyright that games developers ought to be mindful of.For one thing, copyright protects the expression of an idea only and not an idea in and of itself. This means that the general concept, format and mechanics of a game (which, together, often contribute significantly to the overall look and feel) are unlikely to be protected by UK copyright in many cases.Moreover, the protection of graphic works has been given a limited scope by the English courts in the specific context of electronic games. In particular, the court has stated that while the individual frames/images produced by a computer program are individually protectable as separate copyright works, the visual effect of a number of images displayed one after the other is not.This effectively excludes copyright protection for ‘motion’ effects in electronic games. These limitations to the potential scope of copyright protection for front end visuals in online games highlight the need to take a more holistic approach when considering IP protection.It’s (not just) the name of the game Most businesses will be aware that the primary way to protect trading names in the UK is to obtain a registered trade mark. However, it is important to bear in mind that, in principle, any sign capable of being represented graphically and which is also capable of distinguishing goods and services can be protected as a registered trade mark.That means that not only is a business or trading name or the names of individual games or a games series potentially protectable, but so too are many other aspects of a game’s front-end user interface, such as static or moving logos, colours, icons and characters. Sounds have long been protectable so long as they can be represented by graphical notation.Many of these aspects of online games are traditionally associated with copyright or design protection, rather than trade mark protection, which demonstrates the extent to which different IP rights can overlap and offer various layers of complementary protection.A central issue to think about when assessing if registered trade mark protection is available is whether consumers will consider the relevant ‘element’ to be an indication of trade origin.To educate consumers that a particular sign is being used as a trade mark in this way, it can help to consistently use the unregistered ‘TM’ symbol. ‘Out of game’ use of the relevant mark, such as on promotional items and in games advertising can also help to reinforce the perception that a particular in-game element is to be considered a trade mark.Once obtained, a registered trade mark represents a powerful right to prevent the unauthorised use of identical or confusingly similar signs by third parties.Where a registered mark is deemed to enjoy a ‘reputation’, a yet wider scope of protection to prevent third parties gaining an unfair advantage from, or causing detriment to, the reputation of that mark arises.This broader scope of protection might be particularly useful in the case of copycat game content, where the intention is to piggyback a game’s success by adopting some of its protected elements.All is not lost for those companies that have not managed to register their trade marks before encountering a potential infringer.In the UK, unregistered rights under the law of passing off might also help if it can be shown that the use of certain visual elements in a game give rise to an impression that it has been created or offered by a particular business, when it has not.While passing off claims based on ‘get up’ such as in-game visuals alone are certainly not easy, especially where the name of the relevant company is clearly displayed, they can nevertheless succeed where there is clear evidence of consumer confusion in the marketplace, which might extend to a misapprehension that a game has been produced under licence.Designs on your game Registered designs are another possible option for protecting the appearance of a GUI as well as other graphic symbols and images appearing in an online game.While an application specifying the particular design or designs to be protected must be made to the relevant intellectual property office (unlike copyright, which arises automatically in the UK), there is no need to demonstrate that consumers consider the design to be an indication of trade origin.Moreover, unlike trade marks, registered design applications are not examined, which means they can be granted in a matter of days.Once obtained, a registered design prevents the use of any design which does not produce a ‘different overall impression’ on an ‘informed user’ for a period of up to 25 years.Importantly, there is no need to demonstrate copying for a finding of infringement. Having a design registration ready to deploy in connection with a competitor game that is considered ‘too close’ can therefore send a powerful message to the market.Design protection might also offer an answer to the difficulties of enforcing copyright in ‘movement’ aspects of online games, because the definition of design under UK and EU registered design law as well as EU unregistered design law does not limit protection to static images only.It is therefore quite possible to apply for a single registered design which comprises a series of images that, together, give the impression of movement.Indeed, there are a number of movement designs already on the registers which appear to relate to GUIs. The overall impression infringement test applicable in registered designs cases might therefore succeed, where a frame-by-frame copyright comparison would not.IP is a broad catch all term which covers a variety of intangible rights that may arise or potentially apply in the context of online games.While many of these rights overlap, the circumstances in which they may arise and/or be infringed differs and so it is important to have a clear understanding of the full scope of rights available when seeking to protect and enforce IP.This is all the more the case in a constantly changing and evolving industry, such as online gaming.For example, the increasing popularity of ‘live action’ casino games now opens the door to the possibility of protecting aspects of the ‘human’ element of the game as dramatic copyright, a category of IP that has not previously been relevant to entirely computer generated output.Similarly, the potential availability of multimedia trade marks and registered designs covering movement designs may plug the gaps traditionally left by other rights such as copyright.Businesses therefore need to think carefully and take specialist advice in order to develop an appropriate IP strategy for their particular business and online offering.Michael Browne is a partner at Wiggin. He advises on the enforcement and exploitation of all forms of intellectual property, as well as competition law issues. He was assisted in producing this article by associate Nick Allan. Tags: Online Gambling Slot Machines Michael Browne uncovers the extent to which the law can protect your IP AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img 27th September 2018 | By Hannah Gannage-Stewart In defence of ideas Subscribe to the iGaming newsletter Email Addresslast_img read more

Betting contributes €300m to European sports, EGBA claims

first_img Email Address Major European gambling opeators are contributing more than €300m to sports and employing more than 30,000 workers across the European Union, new research from the European Gaming and Betting Association (EGBA) claims.The Brussels-based trade association said its operator members, which have a combined 12m active customers, employed 33,000 workers in 14 European Union countries. These companies also contributed €325m (£290m/$370m) in financial support to sports federations, leagues and clubs through sponsorship, advertising and media rights in 2017.The report revealed that its members generated gross profits of $19.6bn in 2017, with this figure expected to rise to $24.7bn by 2020. EGBA secretary general Maarten Haijer claimed the continent’s major gambling groups are raising compliance standards to match this rapid growth in profits.“Europe’s online gambling sector is a growing and popular form of digital entertainment – but with this growth comes responsibility to ensure that people are kept safe while playing on online gambling websites,” said Haijer, whose group’s members include GVC, Bet365 and Kindred Group.EGBA members completed 56 licensing audits to ensure compliance with local laws and regulations during the period, and invested €22.6m in KYC checks, he said. They also processed 354m online payments over the course of 2017, with customers offered 31 different payment methodsEGBA said its members had an average pay-out rate of 93.06% for the year, with the average customer spending €10 each time they placed a bet, excluding pay-outs. On average customers placed a bet every 17 days.Brands owned by EGBA such as Ladbrokes, Bet365 and Unibet are all major sponsors of sports leagues and teams across Europe. EGBA members are also major advertisers on TV and online throughout the continent, although GVC Holdings chief executive Kenny Alexander recently called for a pre-watershed ban on betting commercials in the UK. Betting contributes €300m to European sports, EGBA claims Topics: Tech & innovation Industry association also says its members have created more than 30,000 jobs throughout the EU Subscribe to the iGaming newslettercenter_img Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 29th November 2018 | By contenteditor Regions: Europelast_img read more

888 posts record earnings despite revenue decline in 2018

first_img Tags: Card Rooms and Poker Online Gambling 12th March 2019 | By contenteditor Bingo Email Address Online gambling operator 888 Holdings has reported record EBITDA for the 12 months through to December 31, 2018, despite also posting a slight decline in revenue for the full year. 888 posts record earnings despite revenue decline in 2018center_img Online gambling operator 888 Holdings has reported record EBITDA for the 12 months through to December 31, 2018, despite also posting a slight decline in revenue for the full year.Total revenue came in at $540.6m (£408.5m/€479.9m), down 2% from $541.8m in the previous year.888 was hit by revenue declines across both its B2C and B2B businesses over the past year, with B2C revenue down by 2% year-on-year to $479.3m and revenue from its B2B arm Dragonfish falling 8% to $529.9m.The operator’s B2C arm was particularly hit by a 37% drop in poker revenue – down to $49.0m – while bingo revenue also slipped 17% to $32.4m. In contrast, casino revenue was up 8% to $317.6m and sport up 6% to $80.3m.Looking to B2B, 888 has said Dragonfish was hit by a number of factors, such as the overall fiscal and regulatory challenges facing the UK bingo market, reduced marketing spend by some partners, and the termination of the deal with former B2B partner Cashcade following its decision to migrate its brands to parent company GVC’s proprietary platform.Despite these declines, 888 was able to boost its earnings performance by cutting back on various expenses during the past year. Operating expenses fell by $1m to $137.8m, while research and development expenses were down from $35.4m to $32.8m.888 also reported lower selling and marketing expenses at $155.0m, compared to $162.5m in 2017, while administrative expenses dipped from $29.2m to $27.3m. In addition, 888 paid less in gaming duties, with this total down from $75.2m to $69.9m.As a result, adjusted EBITDA amounted to $107.1m for the year, a figure that is 6% more than the $100.7m posted at the end of 2017.Adjusted profit before tax was also up 11% year-on-year to $86.7m, while 888 posted a profit before tax of $108.7m, a significant increase on $18.8m in 2017. The operator put this rise down to exceptional income, compared to exceptional charges in 2017, as well as VAT accrual release and gain from re-measurement of previously held equity interest in joint ventures. Once taxes of $13.9m were paid, 888’s net profit for the year stood at $94.8m.Reflecting on the operator’s yearly performance, Itai Pazner, who was appointed as CEO of 888 in January, was pleased with the results, praising the significant strategic progress made by the group during 2018 and since the start of 2019.“Despite headwinds in some areas of the business, the financial performance in 2018 was resilient and we achieved a record EBITDA outcome for the year,” he said. “The group achieved continued growth across several regulated markets, primarily in Continental Europe, underpinned by good momentum in casino and sport.”Pazner also gave an update on 888’s performance and progress so far in 2019, picking out its recent acquisition deals for JPJ Group’s Mandalay operating business, including the Costa Bingo brand, and Irish sports betting operator BetBright as key highlights.“The positive momentum at the end of 2018 has continued into the first quarter of 2019 with average daily revenue in 2019 to date up 10% compared to Q4 2018 reflecting improvements across major KPIs,” he said.“Average daily revenue at constant currency in our UK B2C business is up by more than 10% year-on-year in Q1 so far. Overall, group trading during the financial year to date is 5%* higher at constant currency year on-year.”Looking ahead to the rest of 2019, Pazner spoke positively about further growth prospects for the operator across a number of markets.“Underpinned by the strength of 888’s technology and the significant strategic progress made by the group over recent months, the Board continues to see a number of significant growth opportunities for 888 in both new and existing markets,” he said.However, analysts from Regulus took a much less positive view of the results, suggesting 888 is “losing market share on an underlying basis in most of its core markets”, with only Italy and the Middle East and Africa showing growth.Analysts said: “The big question is whether this is operational (e.g. cutting marketing and development in response to UK pressures and broader regulatory costs) or more structural (e.g. tired brands, legacy technology, lack of mass market capability). The longer the underperformance goes on for, the more likely the reasons are to be found in the latter categories, in our view.”Image: Max Pixel Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Sports betting Bingo Pokerlast_img read more