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BGC Welcomes Appointment of Poppy Gustafsson OBE as Minister for Investment and Commits to Delivering on Government’s Growth Agenda
Standards body the Betting and Gaming Council has congratulated Poppy Gustafsson OBE on her appointment as Minister for Investment and committed to working with Government to deliver their growth agenda.
The Former Darktrace CEO was appointed ahead of an inaugural International Investment Summit, to harness business expertise and drive economic growth across the UK.
BGC members already make huge economic investments across the nation, contributing £7.1bn to the economy, generating £4.2bn in tax, while supporting 110,000 jobs.
That economic footprint boosts growth around the UK, with nearly two thirds of industry supported jobs currently based outside London, including nearly 20,000 in the West Midlands alone.
BGC members have founded tech powerhouses in places like Stoke on Trent where bet365 are the biggest private sector employer, Flutter in Leeds and Sunderland, Ballys in Newcastle-under-Lyme, Entain in London and Nottingham, Evoke in Leeds and BetFred in Warrington, and support Britain’s hard pressed high streets through betting shops, as well as the hospitality and tourism sector, through casinos.
However, the sector is at a crossroads, as it seeks to implement the measures contained in last year’s White Paper, which will cost the sector around £1bn.
Further tax or regulatory changes now could undermine that investment and threaten jobs and growth in the UK, the BGC warned.
Meanwhile the BGC has previously called for the modest, but mission critical, modernisation plans contained in the White Paper for land-based casinos to be implemented without delay, unlocking significant investment across the UK.
They already boast cross-party support and include much needed reforms on cashless payments, gaming machine allocations and allowing all casinos to offer sports betting, which will strengthen the sector to better meet the needs and expectations of their customers.
BGC CEO Grainne Hurst said: “On behalf of our members, the 110,000 people whose jobs rely on the regulated betting and gaming industry, and the 22.5 million people who enjoy a bet each month, I’d like to congratulate Poppy Gustafsson OBE on her appointment as Minister for Investment.
“Poppy is an accomplished entrepreneur and brings a wealth of much needed business and financial experience to this new role. I’m also delighted to see that she will be a joint minister across the Department for Business and Trade and the Treasury, where I know her private sector expertise will make a huge contribution.
“From high streets to hospitality, from tourism to tech, our members generate £4.2bn in taxes for the Treasury and contribute £7.1bn to the wider economy. This is a sector ready to contribute on growth, jobs and investment across the economy.
“The BGC and our members remain committed to implementing changes outlined in the White Paper, ensuring those measures get the balance right between protecting the vulnerable, while allowing the vast majority of punters who enjoy betting responsibly to continue doing so without unnecessary intrusion.
“Our sector needs a solid and stable regulatory footing and tax environment to be able to unlock new investment and grow across the whole of the country. That is particularly true for our land-based casino members, where policy is already set, but needs to be implemented, to unlock vital new investment.”
On top of the sector’s wider economic contribution, BGC members also provide some of the country’s most popular sport with vital funding, from the grassroots to the elite level.
The Sky Bet sponsored English Football League and its clubs receive £40m, William Hill sponsors the Scottish Professional Football League, while a host of other BGC members from Betway to Kindred are supporting football and other sports.
Meanwhile, horseracing receives £350m, and snooker, darts and rugby league – which is currently sponsored by Betfred – receive more than £12.5m.
The post BGC Welcomes Appointment of Poppy Gustafsson OBE as Minister for Investment and Commits to Delivering on Government’s Growth Agenda appeared first on European Gaming Industry News.
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GamCare releases Annual Report following record breaking year of support on the National Gambling Helpline
GamCare’s National Gambling Helpline received a record 55,228 calls and online chats from people experiencing gambling harm in 2023-24 – a 25% increase from the previous year – according to the charity’s Annual Report.
In a year marked by uncertainty over the future shape and structure of the gambling harms treatment sector following the previous government’s white paper on gambling reform, the charity continued to prioritise those at-risk of, or currently experiencing, gambling harm.
Of all calls and online chats that were responded to on GamCare’s Helpline in 2023/24, 41,070 (74%) were classed as supportive interventions. This includes supporting people with initial guidance and advice as well as delivering a seamless entry point into structured treatment services, with individuals completing treatment reporting a significant reduction in gambling-related distress and financial harm.
In March 2024, the Office for Health Improvement and Disparities published an assessment of the gambling treatment system, highlighting that 57% of individuals engaging in treatment were referred by the National Gambling Helpline. This underscores the Helpline’s critical role in connecting people to the support they need. Over 9,100 free treatment sessions were delivered in the year to April 2024, with an average of just 2.1 days’ wait from point of referral.
GamCare’s targeted programmes aimed at young people, women, and the criminal justice system provided training on how to spot the signs of harms and where to signpost into support for 10,344 professionals, and education for 53,324 young people, children and parents. The Women’s Programme, in partnership with organisations such as Refuge, trained 3,813 professionals to recognise and address gambling-related harm among women.
Margot Daly, Executive Chair of GamCare’s Board, says: “Throughout a challenging year and with heightened demand for our services, GamCare’s staff have got on with the job of preventing harm where possible and treating harm where necessary. While we expect important changes in the gambling harms landscape, we have been determined not to let this uncertainty affect our relentless focus on the people who really matter – those at-risk of or currently experiencing gambling harms.
“I would like to thank and pay tribute to our frontline staff who provide 24/7 support for all those at risk or in distress. I also want to thank GamCare’s senior executive team who have steered GamCare through a period of sustained change, and to my fellow trustees for their guidance, unwavering support and the time each has dedicated to ensuring that the charity stays on course and on mission.
“As we look ahead to how the future of the gambling harms sector is shaped, we are committed to working proactively with the NHS and other partners and commissioners to ensure that people are continually able to receive the right support at the right time.”
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Kambi Group plc repurchase of shares during 18 December – 23 December 2024
Kambi Group plc (“Kambi”) has during the period 18 December to 23 December 2024 (the “Buyback Period”) repurchased a total of 40,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).
The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.
During the Buyback Period, Kambi repurchased a total of 40,000 ordinary B shares at a volume-weighted average price of 99.13 SEK. From the beginning of the Programme, which started on 6 November, until and including 23 December 2024, Kambi has repurchased a total of 344,000 ordinary B shares at a volume-weighted average price of 104.94 SEK per share.
During the Buyback Period, Kambi has repurchased shares as follows:
Date | Aggregated daily volume (number of ordinary B shares) |
Weighted average share price per day (SEK) |
Total daily transaction value (SEK) |
18 December 2024 | 10,000 | 100.00 | 999,967 |
19 December 2024 | 10,000 | 99.39 | 993,929 |
20 December 2024 | 10,000 | 98.86 | 988,588 |
23 December 2024 | 10,000 | 98.26 | 982,562 |
All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 23 December 2024, Kambi’s holding of its own shares amounted to 344,000 and the total number of issued shares in Kambi is 29,903,619 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.
A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.
Information on the Programme is available on Kambi’s website, https://www.kambi.com/investors/share-information/
The post Kambi Group plc repurchase of shares during 18 December – 23 December 2024 appeared first on European Gaming Industry News.
CEO of Expanse Studios
Expanse Studios (GMGI) Enters the U.S. Sweepstakes Market
North American Expansion Kicks Off Through Strategic Partnership with Moozi
Golden Matrix Group’s game development division, Expanse Studios, has officially entered the U.S. sweepstakes market, marking a significant milestone in its North American growth strategy. This move is powered by a strategic content partnership with Moozi, one of the most dynamic sweepstakes social casino platforms in the region.
With Moozi now featuring over 50 of Expanse Studios’ top-performing games—including immersive slots, crash games, and table games—this partnership positions GMGI to capture a share of the $5.6 billion U.S. sweepstakes market, projected to more than double to $11 billion by 2025 (Eilers).
Damjan Stamenkovic, CEO of Expanse Studios, commented:
“This partnership signifies our formal entry into the U.S. market, showcasing the innovation and player-first experiences that define Expanse Studios. Collaborating with Moozi enables us to deliver advanced gaming content to a growing audience in North America, a key region for our global growth.”
James Anderson, Moozi’s CCO, added:
“Expanse Studios has set a high bar for engaging and innovative gaming experiences. Their addition to our platform elevates Moozi’s offerings and strengthens our mission to lead the U.S. sweepstakes social casino space.”
This launch underscores Expanse Studios’ commitment to innovation and its long-term growth trajectory in regulated markets. By entering the North American sweepstakes market, Expanse Studios takes a bold step in expanding its footprint while delivering cutting-edge gaming experiences.
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