Betfair investors agree IPO range of up to £14 per share

first_img 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL Share Wednesday 6 October 2010 8:50 pm whatsapp Betfair investors agree IPO range of up to £14 per share center_img whatsapp BETFAIR will announce its plan to float on the Stock Exchange today after a meeting of the company’s 700 shareholders voted in favour of an initial public offering (IPO) at a meeting last night.City A.M. understands the price range will be between £11 and £14 per share, valuing the company at between £1.16bn and £1.48bn.About 10 per cent of the stock will be floated in the IPO although more shares could be issued if demand is strong enough. Betfair was launched ten years ago and allows gamblers to offer odds and bets to each other via the internet, eliminating the need for a bookmaker.It now claims to be the largest gambling community in the world. It also sponsors sporting events, including horseracing.But there are concerns the IPO could be shunned by investors who suffered losses after the flotation of Ocado, the online supermarket delivery service, this year.Of Betfair’s 700 shareholders about 500 are employees. Its other big shareholders include the private equity firms Balderton Capital and Index Ventures and Richard Koch, co-founder of LEK Consulting.Japanese bank Softbank bought a 21.5 per cent stake for £13.20 a share four years ago. The bank is thought to have objected to a listing at a price below this level, forcing Betfair to delay a planned IPO in August.Founders Ed Wray and Andrew Black own 22.5 per cent of the business — worth between £281m and £359m at the proposed IPO price. Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Show Comments ▼ KCS-content last_img read more

KPMG faces probe into BAE audits

first_img The accounting regulator said it will investigate consultancy firm KPMG over its audits of defence firm BAE Systems, which was fined earlier this year for questionable payments to secure contracts.Audits covering the ten years between 1997 and 2007 will be investigated, as well as “commission payments paid by BAE,” Britain’s Accountancy and Actuarial Discipline Board said in a statement posted on its website.“The Accountancy and Actuarial Discipline Board has begun an investigation under its accountancy scheme into the conduct of KPMG Audit plc as auditors to BAE Systems plc,” the regulator said.BAE in February reached a deal to pay about $450m in fines to settle long-running corruption investigations in the United States and Britain over payments made to clinch arms deals. whatsapp Show Comments ▼ KPMG faces probe into BAE audits Tags: NULL Share John Dunne whatsapp Tuesday 26 October 2010 3:51 am 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap last_img read more

Paragon sees lending return as rents rise

first_imgWednesday 24 November 2010 9:04 pm Show Comments ▼ Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Paragon sees lending return as rents rise Sharecenter_img whatsapp 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 PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content UK SPECIALIST mortgage lender Paragon Group said yesterday it expected lending to increase as a result of higher demand in the private rented sector as it reported higher-than-expected full-year results.The lender said profit before tax stood at £71.8m for the year to 30 September 2010, up almost 25 per cent from £54.3m the previous year.Paragon said its strong performance came as a result of strong buy-to-let distribution, encouraging levels of mortgage applications and improving arrears performance that was well below its peers. The firm resumed lending in September, after being forced to close its doors in early 2008 because of higher lending costs at the height of the financial crisis.Paragon chief executive, Nigel Terrington said market conditions were very favourable for landlords, due to strong levels of tenant demand.“There are currently not enough properties in the private renting sector to accommodate demand,” Terrington said. He also added that rents will rise “quite strongly” over the coming months.Paragon added it expected to issue mortgage backed securities in 2011. whatsapplast_img read more

BEST OF THE BROKERS

first_img KCS-content BEST OF THE BROKERS 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap whatsapp 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 PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndo Show Comments ▼ STAGECOACHDeutsche Bank has downgraded the transport group to “hold” from “buy”, with a target price of 240p. The broker has raised its earnings per share forecast for 2010 by five per cent, and believes the firm will weather the withdrawal of some subsidies, though fuel costs could dampen growth.BETFAIRNumis rates the bookmaker “buy” with a target price of £16. The broker expects the firm to report flat revenue during its maiden interim results next Tuesday, but notes that Betfair’s quarterly growth is usually volatile and expects limited share liquidity to cushion any drop following the results.DE LA RUEUBS has upgraded the banknote printer to “neutral” from “sell” with a new 12-month target price of 845p, up from 500p. The broker believes Oberthur’s takeover offer needs to hit 950p a share before De La Rue shareholders consider it, and notes that a deal would probably be a good strategic fit. center_img whatsapp Share Thursday 9 December 2010 7:27 pm Tags: NULLlast_img read more

IG in talks to sell sports division

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Spread betting company IG Group is reportedly in talks with bookmaker Star Sports to sell Extrabet, its sports gambling division. IG hired financial advisory firm PwC during the summer to help dispose of Extrabet, though it is unclear whether there are rival potential buyers involved in talks. Sports bets make up just two per cent of IG Group’s sales. KCS-content IG in talks to sell sports division Share whatsappcenter_img whatsapp Sunday 19 December 2010 10:05 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNight DailyHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeNight DailyThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesJournalPregnant Woman Takes a Nap – You Won’t Believe What She Discovered When She WokeJournalTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney Versed Tags: NULLlast_img read more

Johnson & Johnson keeps quiet on bid rumours despite reports

first_imgSunday 16 January 2011 10:33 pm Johnson & Johnson keeps quiet on bid rumours despite reports Share whatsapp KCS-content Show Comments ▼center_img whatsapp 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’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com JOHNSON & JOHNSON is a US manufacturer of healthcare, medical and pharmaceutical goods, founded in 1886 by three brothers in New Jersey. It has been a Fortune 500 company since 1978, with total sales for 2009 of $61.9bn (£39bn).Throughout the takeover rumours Johnson & Johnson has maintained that it does not comment on speculation, keeping its cards close to its chest on a bid for Smith & Nephew. The US giant is nearly 25 times larger than the UK company in market capitalisation terms.It has made it a sustained strategic goal to diversify its portfolio since the company was first established in the late 1800s, including the $6.6bn acquisition of Pfizer’s consumer healthcare brand in 2006. It holds over 250 subsidiary companies in 57 companies, with William C Weldon at the helm of its board since 2002. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULLlast_img read more

3i deal activity on the rise

first_img whatsapp 3i deal activity on the rise 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 ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 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 AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Thursday 27 January 2011 3:19 am Share whatsappcenter_img Show Comments ▼ John Dunne 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Private equity firm 3i Group said deal activity picked up in the three months to end-December, as M&A markets continued to warm up.3i invested £183m during the quarter, taking total investments to £510m in the first nine months, more than double year-on-year.New deals across Europe picked up late last year as the economic outlook improved, with 3i agreeing deals for businesses including Nordic medical supplier OneMed and German jewellery maker Amor group.The group has also been active selling more mature portfolio companies, including Dutch hydraulic cylinders maker Hyva and French environmental and food testing firm Groupe Carso.Sales of companies amounted to £398m over the nine months, not including 350 million of expected proceeds from Hyva and the sale of MWM to US group Caterpillar earlier in the quarter, compared with £777M in the previous year. Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img whatsapp Wednesday 6 April 2011 7:25 pm KCS-content Share whatsapp Tags: NULL 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap CITY MOVES | WHO’S SWITCHING JOBS Show Comments ▼ SWIPWilliam Low has been appointed as head of global equities at Scottish Widows Investment Partnership’s (SWIP) International Equities team. Low, who joins from a 15-year tenure as director and portfolio manager at Blackrock, will be based in SWIP’s Edinburgh office and will be responsible for driving the firm’s global equity strategy across a range of portfolios. He brings more than 24 years of global equity asset management experience to the position.ThreadneedleThe international asset manager has hired Daniel Isidori as fund manager for Latin America, where he will be responsible for a £1.2bn fund. Isidori joins Threadneedle’s Asia and Global Emerging Markets equities team from Baring Asset Management.Ernst & YoungThe investment management company has appointed Howard Mannion and Valerie Nott to its UK Asset Management division, as partner and director respectively.Barclays WealthThe wealth manager has appointed Peter Arkell and Fred Lane to its High Net Worth business within the UK & Ireland Private Bank. Arkell has been appointed as a director from Credit Suisse, where he sourced and managed clients for four years. Lane, also from Credit Suisse, has been appointed as a vice president.Schroder PropertyNick Scott has been appointed as head of UK retail property at Schroder Property. Scott joins from NewRiver Retail and will oversee retail transactions and asset management for the Schroder Exempt Property Unit Trust.Sacker & PartnersIan Pittaway has been re-elected as senior partner at the pensions law firm, marking his third consecutive term in the role. Pittaway was recently named the best pensions lawyer in London by the Legal 500.Alexander ForbesAlexander Forbes Financial Services has promoted Gemma Goodman to head of the Annuity Bureau and DC operations. Renaissance CapitalThe emerging markets investment bank has appointed Igor Bilous as head of investment banking and finance, Ukraine and Central and Eastern Europe, as well as the firm’s co-chief executive in the region. Bilous joins from UBS Investment Bank. last_img read more

Genting appoints new interactive chief

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Genting appoints new interactive chief Tags: Online Gambling 3rd September 2018 | By contenteditor Ex-Betsson executive has been hired as company investigates opportunities in Europe Casino & games Subscribe to the iGaming newsletter Genting Casinos has appointed Jeremy Taylor as interactive managing director, with the ex-Betsson executive set to assess opportunities for the company across the European market.Formerly group marketing director at Betsson, Taylor will spearhead Genting’s plans for its interactive casino and sports brands from a new Malta headquarters.Genting Casinos UK is one of Britain’s largest casino operators and has bought, refurbished and built brand new premises to offer premium casino gaming and entertainment. The Genting Group launched its first online casino in 2008 while the Genting Bet sportsbook was launched in 2013.With a portfolio that includes the GentingCasino.com and GentingBet.com online and mobile gaming brands, Genting Casino is undergoing a site transformation to deliver a mobile-first product for UK – and soon to be European – casino customers.Concerning Genting’s plans for Europe, Taylor (pictured) told iGamingBusiness.com on his first day in his new role today (Monday): “I will be looking at each regulated market opportunity on a case-by-case basis.”Genting’s affiliate team will also be migrating to Malta to oversee the management of Genting Affiliates.Taylor added: “Malta is a tier-one gaming jurisdiction and on the island you’ll find some of the best European iGaming talent. It’s the best fit for Genting Interactive to grow our casino and sportsbook marketing and operations over the coming years.”Genting’s Live Dealer Casino operations include two live table feeds from its own Resorts World Birmingham and Manchester Casinos. From September, GentingCasino.com will be adding a live feed directly from the Palm Beach Casino in Mayfair, London.Mark Sergeant, group managing director of Genting Casinos UK, said in a statement: “We have seen the incremental value generated through our online casino and sportsbook brands and are now ready to push forward into the next phase of our evolutionary growth.“As retail casino experts, we needed a heavyweight online and mobile gaming executive to lead the interactive business. Jeremy is the ideal man for the job and we’re looking forward to seeing the business grow under his leadership from our new Maltese base.” Regions: Europe UK & Ireland Southern Europe Malta Topics: Casino & games Strategy Email Addresslast_img read more

Swiss casino revenue up 3.4% in 2018

first_img Tags: Online Gambling Slot Machines 4th July 2019 | By contenteditor Topics: Casino & games Finance Slots Table games Swiss casino revenue up 3.4% in 2018 Subscribe to the iGaming newsletter Casino & games Swiss gambling regulator Eidgenössische Spielbankenkommission (ESBK) has reported a 3.4% year-on-year increase in revenue from the country’s land-based casinos in 2018, driven largely by the slot vertical. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Central and Eastern Europe Switzerland Swiss gambling regulator Eidgenössische Spielbankenkommission (ESBK) has reported a 3.4% year-on-year increase in revenue from the country’s land-based casinos in 2018, driven largely by the slot vertical.Total revenue rose to CHF703.6m (£576.7m/€632.9m/$713.8m), from the country’s eight A licensed casinos (larger venues in urban areas) and 13 B-licensed venues, located in resort towns and smaller communities.The A-licence venues accounted for CHF426.4m of the total, up 3.8% year-on-year, with the B-licence casinos contributing the remaining CHF277.2m, up 2.7%.Looking at the market in terms of product, slots were by far the most popular. The vertical saw revenue rise 2.7% from 2017 to CHF567.7m, or 80.7% of total market revenue. Table games, meanwhile, saw revenue rise 6.2% to CHF135.9m.This resulted in taxes paid by casino operators rising 4.7% year-on-year to CHF332.4m. The bulk (CHF284.9m) went into the country’s national pension scheme, with a further CHF47.5m allocated to the cantonal authorities.ESBK also revealed that enforcement action taken against unlicensed operators had declined over the year. A total of 98 cases were opened by the regulator in 2018, and it made rulings on 255 cases in total. As of January 1, 2019 there were 117 pending cases remaining. It handed out fines totalling CHF1.5m, and issued claims for CFH509,344 in illegally obtained profits to be returned.It added that it faces a major challenge in the current year, with the opening of the Swiss online casino market, resulting in ESBK being granted the power to order internet service providers to block access to unlicensed sites. The power to issue blocking orders came into force from July 1, with the regulator noting that it was already preparing to ban its first unlicensed operators.July 1 also acted as the start date for the country’s igaming market, which only permits land-based casinos to secure licences. To date just four have done so. Grand Casino Baden, which also owns Casino Davos, will work with Gamanza, while Grand Casino Luzern has partnered Paf and Casino Zürichsee operator Swiss Casinos has struck a deal with Playtech.In related news, the Inter-Cantonal Lotteries and Betting Commission (Comlot) reveal that gross gaming revenue rose 0.4% year-on-year to CHF943m in 2018. However declines in profit for French language Loterie Romande and German cantons’ lottery Swisslos resulted in the sum raised for good causes declining to CHF588m. Email Addresslast_img read more