LeoVegas appeal, GambleAware, Evolution, & Flutter: the week in numbers
$6,000 Welcome Bonus
Super Group will combine with Sports Entertainment Acquisition Corp and apply to list its shares on the New York Stock Exchange under the ticker symbol 'SGHC'. LeoVegas will appeal a warning and SEK 2m penalty from Swedish Gambling Authority. GambleAware released its five-year organisational strategy. The effect of COVID-19 is devastating. It is based on Money Laundering Act. According to the Act, the ceiling for this type of infringement is €1m.
70% of European casinos were closed for an average of 136 days in 2020. The worst affected casinos, such as in Sweden, have been closed an entire year. European land-based operators have seen revenues fall by over 50% in the last year and most of them do not have a clear schedule for the official reopening of their businesses.
Evolution is continuing to push forward towards its vision of being a global market leader in online casino products. The company's operating revenue more than double to reach €235.84m for the January to March 2021 reporting period. It's expected that the €450m BTG acquisition is expected to close in the second quarter of the year.
Kindred Group's share of revenue from harmful gambling has decreased to 3.9% for the first quarter of 2021. Kindred's aim is to reach zero% revenue by 2023. The group reports a 1% increase in the improvement effect after interventions by its customer care teams to 76.6%.
888's Q1 revenue increased 56% year-on-year to $272.5m. B2C revenue rose 67% to finish at $262.8m (2020: $156.9m). Casino revenue was up 80%. Sports revenue grew 63%. Poker revenue up 13%. Bingo revenue reached $11.4m, up 16%.
Flutter Entertainment's revenue is up 32% year-on-year to £1.48bn. Online revenue increased 41%. Revenue across Flutter's core gaming and sports segments surged 18% and 43%.
