LeoVegas appeal, GambleAware, Evolution, & Flutter: the week in numbers
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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%.
