BP offers TNK-BP a role in Rosneft deal

BP offers TNK-BP a role in Rosneft deal

first_img whatsapp whatsapp Show Comments ▼ Friday 11 February 2011 6:53 am 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Sharecenter_img BP has offered its Russian venture TNK-BP a chance to join its partnership with Rosneft, TNK-BP’s deputy CEO has told reporters, signalling a possible resolution to a row.“We had an offer from BP … about its agreements with Rosneft. For the company, obviously, the partnership would be interesting,” Maxim Barsky told reporters on a visit to an oil-rich West Siberian region.“The company is reviewing the offer and we will present it at the board of directors on February 18.”He gave no further details of BP’s proposal.The British major and Rosneft, Russia’s biggest oil producer, earlier this year struck a share swap deal which will see them jointly explore the Arctic for oil.The deal drew opposition from AAR, the consortium of Russian shareholders in TNK-BP, who said it violated their shareholder agreement and secured a London court injunction to freeze the deal.Under a shareholders’ agreement between BP and a Moscow-based consortium of investors with whom it evenly divides control of No. 3 Russian oil producer TNK-BP, the TNK-BP board has right of review over BP’s other Russian activities.BP declined to comment on Barsky’s remarks.“We haven’t heard about these proposals and we don’t know what are they about,” a Rosneft spokesman told Reuters.Barsky said he hoped that differences between BP and Russian shareholders in TNK-BP would be soon resolved. 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 ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 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 Farm alison.lock BP offers TNK-BP a role in Rosneft deal Tags: NULLlast_img read more

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Delaware judge slams BarCap

first_img Show Comments ▼ Share KCS-content whatsapp A Delaware judge yesterday slammed the dual role of Barclays Capital in the takeover of Del Monte Foods by a private equity consortium led by KKR. The judge, which delayed the shareholder vote on the takeover by 20 days, criticised Barcap, saying the bank wanted to gain fees on both the sell side and buy side of the deal. “Barclays secretly and selfishly manipulated the sale process to engineer a transaction that would permit Barclays to obtain lucrative buy-side financing fees,” the judge wrote. Barclays said it “strongly disagrees with characterisations that are based on an incomplete factual record.” The bank said it contacted 53 potential buyers “in an extensive, robust, and public sale that yielded no higher price.” Delaware judge slams BarCap center_img More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans 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.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org 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 Wednesday 16 February 2011 7:41 pm whatsapp Tags: NULLlast_img read more

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Three year high for US morale

first_img Three year high for US morale Tuesday 22 February 2011 8:04 pm 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 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 HeraldZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald KCS-content whatsapp Sharecenter_img whatsapp AMERICAN consumers are the most upbeat they have been since February 2008 as the US economy continues to rebound, official data showed yesterday.“Rising equity prices, falling unemployment and the boost to disposable incomes from the payroll tax cut are more than offsetting the effects of higher gasoline prices and lower house prices,” commented Paul Dales of Capital Economics.High street morale was boosted despite upward revisions being made to recent months due to changes in the Conference Board’s methodology. The headline figure for consumer confidence reached 70.4 this month, from 64.8 in January.And consumers are optimistic for the near future, with the survey’s expectations index surging to 95.1, from 87.3 last month, smashing the long term average of 92 for the first time since the recession.America’s recovery was also reflected in the Federal Reserve Bank of Richmond’s manufacturing figures, which bounced back strongly. The index climbed back to 25 this month, as new orders soared by 10 points (from 17 to 27), the Richmond Fed announced yesterday.However, the US housing market continues to slump, with prices falling 0.4 per cent in December, compared to the previous month.In the final three months of 2010, prices in 20 main US cities dropped 3.9 per cent on the previous quarter, the Case-Shiller home price index revealed yesterday.“The silver lining that they should be bottoming out soon,” said ING’s Teunis Brosens. Show Comments ▼ Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orglast_img read more

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RWE embarks on asset sales and investment cuts

first_img Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The 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 Share KCS-content Thursday 24 February 2011 8:10 pm Tags: NULL whatsapp RWE embarks on asset sales and investment cuts GERMANY’S RWE, Europe’s fifth-largest utility, said it will cut investments and sell assets to counter a worsening outlook for profits in the coming year after the 2010 result beat expectations.The power provider is now forecasting operating profit will drop 20 per cent this year to €6.16bn (£5.24bn), more than the 16 per cent decline predicted by an analyst poll.“The company is preparing for a difficult market environment,” RWE said yesterday. “We are rolling up our sleeves.”The largest emitter of carbon dioxide in Europe predicted its operating profit would be at €5bn in 2013, when it will have to fully pay for emission certificates.That is almost 30 per cent less than it previously predicted and 20 per cent less than what analysts expect.RWE said operating earnings in 2010 had risen eight per cent to €7.7bn, more than the €7.5bn expected. whatsapp Show Comments ▼last_img read more

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Flotations raise $26bn in strong start to year

first_imgSunday 27 February 2011 11:53 pm COMPANIES have raised more than $26bn (£16bn) through IPOs so far this year, to make it the best start to the year on record, says Dealogic.According to the data group, there is also a global backlog of $48bn in deals, which looks set to make 2011 a record-breaking year. The early flurry, which has mainly been in the US, includes the IPOs of energy company Kinder Morgan, which raised around $2.86bn, and media group Nielsen, which raised $1.89bn.Hospital operator HCA is expected to top them with an IPO worth more than $4bn, making it the largest private equity backed flotation.Europe has lagged behind the US in terms of listings because of concerns over economic growth and Eurozone debt, but there is still a healthy demand for IPOs compared to the last three years. The surge in dealmaking comes despite advisers’ fears over unrest in the Middle East and the rising cost of oil. whatsapp Show Comments ▼ whatsapp Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The 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 Flotations raise $26bn in strong start to year Tags: NULL Share KCS-content last_img read more

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DMGT sees an uncertain future for ads

first_img KCS-content whatsapp Daily Mail publisher DMGT has warned of uncertainty in the advertising market after seeing revenues from its regional newspaper division slump 12 per cent since the start of the year.This compares to a six per cent fall in the previous quarter and has been partially blamed on tough comparatives owing to increased advertising spend in the run-up to the general election last year.Recruitment advertising at local papers fared even worse, dropping 27 per cent.However, overall revenue at the group was up five per cent.National newspaper advertising rose four per cent, albeit slower than the six per cent growth in the previous quarter. Total revenues for Associated Newspapers were up three per cent despite a drop in circulation revenues. Both the Daily Mail and The Mail on Sunday continued to improve their market share. Business-to-business operations – a standout performer for the group – showed a 10 per cent increase in revenues. Its events division also saw a spike in growth, with revenues up 11 per cent after a string of lucrative events including the New York International Gift Fair and the Adipec oil show in Abu Dhabi.The company cut seven per cent of its staff in the five months to the end of February.Advertising revenues from DMGT’s digital-only businesses, including Mail Online, which the firm bills as the world’s most popular newspaper site – rose four per cent. DMGT sees an uncertain future for ads Monday 28 March 2011 7:51 pm Tags: NULLcenter_img 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Show Comments ▼ whatsapplast_img read more

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US investor gives Home Retail a boost

first_img HOME Retail Group saw its shares jump yesterday after US private equity firm Madison Dearborn Capital Partners upped its stake.The Argos and Homebase owner issued a profit warning last month but was buoyed by the move from across the Atlantic.Tradewinds Global Investors, controlled by Chicago-based Madison, held 4.25 per cent of Home Retail’s voting rights as of the end of March, the retailer said. The stake was only 3.2 per cent in mid-March. The FTSE 250 company has been the subject of takeover speculation and is seen as a potential target for Asda owner Wal-Mart. Freddie George, an analyst at Seymour Pierce, said: “It takes a leap of faith, in our view, to invest in a company on speculation, when Home Retail’s profits have declined each year over the last four years at a time when Internet channel sales have been very strong.” Home Retail chief executive officer Terry Duddy lowered the company’s profit outlook on 10 March, warning “difficult and volatile” conditions were damaging sales at Argos. Home Retail now expects to make profits before tax of between £250m and £255m for the year to 26 February, down from its January forecast of £263m and the £293m made on 2010. But the stakebuilding by Madison is seen as a positive move in investors’ eyes. Home Retail shares closed 1.7 per cent higher at 208.1p. US investor gives Home Retail a boost Tuesday 5 April 2011 7:29 pm Share Show Comments ▼ KCS-content Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Tags: NULL whatsapplast_img read more

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GiG wins approval for New Jersey launch

first_img Regions: US New Jersey Gaming Innovation Group (GiG) has secured approval to offer a real-money online casino platform solution to operators in the US state of New Jersey. The firm has been granted a transactional waiver by the New Jersey Division of Gaming Enforcement, certifying its GIG Core platform as compliant with rules and regulations in the state. GiG said that when the state’s obligatory and comprehensive process has been completed, it will seek to obtain a Casino Service Industry Enterprise Licence. The approval comes after GiG in February agreed a deal to supply its full range of platform and front-end development services to the new Hard Rock Hotel & Casino Atlantic City in the state. Hard Rock, GiG’s first customer in the US, intends to launch its new online casino service next month. Robin Reed, chief executive of GiG, said: “We are delighted to now be going live with Hard Rock in New Jersey, a first step in our mutually ambitious plans to take market share in the regulated online gambling market in the US.” Earlier this week, Hard Rock also announced that it had agreed a deal for Global Payments Gaming Solutions to provide online ACH account funding for its new online casino.Related article: Hard Rock pens omni-channel deal with Global Payments GiG wins approval for New Jersey launch AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter 29th June 2018 | By contenteditor Topics: Casino & games Legal & compliance Tech & innovationcenter_img Companies: GiG Casino & games Tags: Online Gambling Gaming Innovation Group (GiG) has secured approval to offer a real-money online casino platform solution to operators in the US state of New Jersey Email Addresslast_img read more

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Inmates running the asylum

first_img Regions: UK & Ireland 3rd November 2019 | By Stephen Carter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter While UK loyalists caught in the regulatory and political storm in the UK may be tempted to point to Sweden and say they’ve got it much worse, they’re simply clutching at straws, argues Julian Buhagiar. They could be waiting up to three years for new rules that reflect post-EU business realities Finance Email Addresscenter_img Topics: Finance Legal & compliance Strategy Inmates running the asylum While UK loyalists caught in the regulatory and political storm in the UK may be tempted to point to Sweden and say they’ve got it much worse, they’re simply clutching at straws, argues Julian Buhagiar. They could be waiting up to three years for new rules that reflect post-EU business realitiesThere’s a great line early on in Ken Kesey’s timeless masterpiece One Flew Over the Cuckoo’s Nest: “People will force you, one way or the other, into doing what they think you should do or into just being mule-stubborn and doing the opposite out of spite.Watching the unfolding drama over the upcoming UK elections, and indeed the similar state of its totalitarian gambling regulations, it’s hard not to draw comparisons between the asylum’s Big Nurse and UK’s Big Government.Naturally, defenders will voraciously point to Sweden and say “dem’z worse bruv”. But historically and politically, Sweden is cynical enough to recognise that the long game is played by gradually decreasing populist steps followed by ‘embracing new initiatives’ once tax windfalls start to bite.It’s why defence and tobacco still form a significant part of pension funds in the Nordics despite a worldwide lobby to the contrary.So many (currently non-licensed) Swedish operators are patiently biding their time until regulation settles, applying (and in many cases re-appealing) to regulators until the window re-opens again.Not so in the UK, at least not while the current political mood prevails. Even under existing management, the short- and medium-term outlook is bad.Consider for example how – now that the UK has finally decided to leave the customs union – there isn’t yet a definite view on how VAT will be reconciled inter-border.Point of consumption? Well, that will depend on individual agreements signed up between member states. GDPR and data residency? Yeah, we’ll get around to that.And, let’s be clear from the outset, UK gaming will stand to get even worse should Parliament take an unexpected lurch to the left. One thing’s for sure though; Gibraltar had better find a replacement for all those gaming expats. Who’s going to be doing the rounds now at The Clipper?In gaming, as in politics, the real stakeholders vote with their feet not their rhetoric. Consider how, in the last few months, ComeOn, JackpotJoy and Vera&John, to mention just a few, have all pulled out of the UK.Most of the others have withdrawn budgets or just silently stopped promoting. And we’re still short of a couple of a few key mergers. Still too many sharks swimming round in an (ever decreasing) tank.The Hungry House of gaming is still waiting to happen, and that will come about in a few months.A similar outlook prevails for the white-label market. Previously enjoying relatively unhinged operations, things have taken a turn for the worse now with increased liability for licence holders.This puts companies like EveryMatrix in a tricky situation. Having lost its B2C licence, it continues to operate with its remote gambling software licence for now, until its licensed operators start to come under increased pressure.Others are in a similar predicament. On current weather conditions, it’s when, not if, the storm will hit.So, how do the inmates get to stop running the asylum? Not anytime soon, at least not until the new establishment truly comes to terms with what a deep (self-inflicted) mess it’s gotten itself into.In about two to three years’ time, when customs duties and car manufacturing deficits really start to bite (never mind who will still be around to make my flat white) there should be some new rules in place to benefit an offshore gaming jurisdiction.Lowering company tax to 15% or even 12.5% should be the first move. Relaxing FOBT limits again (based on circumstantial evidence that limits don’t really affect gambling habits) followed by a gradual reallocation of licences for B2C and B2B holders, against lower punitive fines.Given the anticipated short-term brain-drain, maybe even incentivising high earners on better tax credits and/or fixed-term rebates to get fresh middle and senior management blood back into the machine.Taking a leaf from Malta’s gaming playbook in this case surely can’t hurt. Hopefully with less traffic jams. Or dust.So, unsurprisingly, things are about to go from bad to worse in the short term for the B2C and B2B UK gaming markets.At some point in the next three years, hopefully sooner, the over-regulated industry will acknowledge that the laws need to be relaxed again to accommodate new trade and new brains.And at that time, given the almost definite economic contraction, will be able to do it without fear of populist retribution. After all, isn’t this what taking back control should be about?Julian Buhagiar is an investor, CEO and board director to multiple ventures in gaming, fintech and media markets. He has led investments, M&As and exits to date in excess of $370m. Subscribe to the iGaming newsletterlast_img read more

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Portuguese online gambling revenue reaches €65.4m in Q4

first_img Portuguese online gambling revenue reaches €65.4m in Q4 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 4th February 2020 | By contenteditor Email Address Tags: Online Gambling Slot Machines Subscribe to the iGaming newsletter Online gambling revenue in Portugal amounted to €65.4m (£55.6m/$72.3m) in the fourth quarter of 2019, with national gambling regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) noting growth across all areas of the market.Revenue for the three months through to 31 December 2019 was up 52.1% year-on-year from €43.0m in the final quarter of 2018. Q4 also represented the eighth consecutive quarter in which the market set a new revenue record, surpassing the previous high of €54.1m in Q3.Sports betting revenue for the quarter amounted to €33.4m, up by 55.0% on the previous year. Consumers wagered a total of €185.3m, an increase of 67.5% from Q4 of 2018.Football was the most popular sport to bet on in Q4, accounting for 74.6% of all wagers in the period. Basketball followed in a distant second with 13.3%, then tennis on 6.3%.Meanwhile, revenue from online games of chance revenue also increased 49.1% year-on-year to €32.0m, while the amount spent by players on such games rose by 47.9% to €852.2m.Slots were responsible for 69.0% of all online casino bets in Q4, some way ahead of French roulette on 13.6% and poker with a 9.4% share of the market.A total of 12 approved operators were active in the Portuguese market in Q4, compared to nine in the same period last year. The operators held 20 licences between them, nine of which covered sports betting, with 11 for games of chance.Licensed operators paid a total of €35.8m in online gambling tax during Q4, an increase of 67.4% on the previous year.Some 163,900 new account registrations were recorded in the fourth quarter, up from 103,500 in the same period in 2018, while it was also revealed that a total of 390,400 people placed online wagers during the period.Meanwhile, the SRIJ published figures for the country’s land-based sector, with overall revenue for the market down 0.8% year-on-year to €80.6m.Gaming machines were the most popular form of land-based gambling during Q4, accounting for €66.1m of total revenue, though this was down 3.5% on the same period in 2018.Table games revenue was up 15.5% year-on-year to €13.6m, but poker and bingo revenue was down 10.1% to €991,190. Online gambling revenue in Portugal amounted to €65.4m (£55.6m/$72.3m) in the fourth quarter of 2019, with national gambling regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) noting growth across all areas of the market. Casino & games Regions: Europe Western Europe Portugal Topics: Casino & games Finance Sports betting Slotslast_img read more

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