Travelodge sales grow 13pc

first_imgSunday 20 February 2011 10:16 pm Travelodge sales grow 13pc whatsapp Show Comments ▼ BUDGET hotel chain Travelodge is set to report a 13 per cent sales growth for last year, with a forecast for further expansion this year.The chain will today announce like-for-like growth of six per cent, led by 11 per cent growth in London, and a total of 7.2m room sales, with 13m customers, up 12 per cent from the previous year.Chief executive Guy Parsons said that, despite the impact this year of the VAT increase and fuel and energy price rises, 2011 trading is in line with management expectations and the firm was “confident on the longer term outlook”.Parsons said: “Despite the tough climate in 2010, we have delivered a robust performance whilst continuing our strategic UK growth programme and demonstrating Travelodge’s continued strong recovery.“We served record numbers of customers, grew total sales and opened 70 new hotels in excellent locations, targeting sites that would have been beyond our reach before the recession. The deal with Mitchells and Butlers, which saw us acquire 52 of their hotels, shows the innovative approach we have taken towards our aggressive growth plans.“With a continued focus on driving growth this year, we have already opened four hotels and are currently building a further 36 hotels. We are creating 725 new jobs, and ensuring we are well on track to reach over 1,100 hotels and 100,000 rooms by 2025.”Over the last five years Travelodge has focused on city centre growth in an effort to move away from roadside locations. Eighteen per cent of its rooms are now in London, with 62 per cent in major towns and cities and 20 per cent in the traditional motorway or roadside spots. Travelodge, which has 450 hotels in the UK and 13 abroad, said 87 per cent of reservations were made at travelodge.co.uk last year, with rates starting at £19. More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoTotal 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 HeraldUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndocenter_img Tags: NULL Share KCS-content whatsapplast_img read more

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Antofagasta to pay $1bn extra to shareholders

first_imgTuesday 8 March 2011 7:59 pm Antofagasta to pay $1bn extra to shareholders CHILE-FOCUSED miner Antofagasta revealed a huge special dividend of almost $1bn (£619m) yesterday to share last year’s rewards from booming copper prices and increased production. The firm said pre-tax profit rose 79 per cent to $2.5bn, boosted by an 18 per cent rise in copper production. However, the results missed some forecasts once one-off gains were stripped out, largely due to higher energy costs at the firm’s mines. The $1 per share special dividend means the company will pay shareholders 109 per cent of its net earnings for the year. “We feel confident about having the dividend,” said chief executive Marcelo Awad in a call with analysts. “It underlines the increased production and confidence in the future prospects of the market and the group.”The firm has set aside $95m for fresh exploration – slightly down on last year. “Capital expenditure will be lower compared to the last few years and we felt it was appropriate to make a larger return of cash for the year,” said Awad.The firm’s new Esperanza copper project produced its first shipment in January, Awad said. Show Comments ▼ 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 TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBrake 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 Herald Share KCS-content center_img whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.com whatsapp Tags: NULLlast_img read more

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Reform tax system, IoD demands

first_img 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 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp Share Tuesday 15 March 2011 8:22 pm KCS-content Show Comments ▼ Tags: NULL Entrepreneurial investments should be exempt from capital gains tax, and the government must commit to abolish the 50p rate of income tax, the Institute of Directors said yesterday. The IoD called for several changes to the tax system to improve the UK’s competitiveness. Reform tax system, IoD demands whatsapplast_img read more

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INM profit up despite tough climate

first_imgTuesday 22 March 2011 4:10 am Publishing group Independent News & Media posted a 14 per cent rise in full-year underlying operating profit and said it expected earnings to grow this year despite tough market conditions.The Dublin-based group, nearly 50 per cent owned by former bondholders, is focussing on media businesses in Ireland, South Africa, New Zealand and Australia after selling its flagship title the Independent as well as interests in India to help secure its future.With economic growth subdued, INM said it was not expecting any material boost to advertising this year, but a slimmed-down group and a tough line on costs should help grow profits.“Assuming more normalised advertising conditions, easier comparatives, continued cost vigilance and having eliminated loss-making businesses, we are targeting a further improvement in operating profit for the year,” chief executive Gavin O’Reilly said in a statement.“This, coupled with accelerated free cash flow generation, will ensure further, meaningful deleveraging in 2011.”On an underlying basis, excluding disposals and the deconsolidation of Australia’s APN News & Media ( in which INM holds a 32 per cent stake, operating profit reached 87.9 million euros (£77m) compared with 77.2m in 2009. 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 TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald John Dunne Show Comments ▼ whatsappcenter_img INM profit up despite tough climate whatsapp 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 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Share Tags: NULLlast_img read more

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BMM gears up for US sports betting rush

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter DFS BMM gears up for US sports betting rush BMM Testlabs has revealed that it is working with a number of companies to test for regulatory compliance for sports betting and daily fantasy sports in North America BMM Testlabs has revealed that it is working with a number of companies to test for regulatory compliance for sports betting and daily fantasy sports in North America. The revelation comes after the US Supreme Court voted to overturn the federal Professional and Amateur Sports Protection Act of 1992 (PASPA), which had blocked more states from legalising sports wagering. BMM said it has been selected by the “majority” of companies in the region over the past 12 months for compliance testing related to this form of gambling. Travis Foley, executive vice-president operations in North America for BMM, said: “BMM has a dedicated sports betting team of experts and consultants to design the methods, tests and specific checklists to ensure the accuracy and quality of our services is world-class. “Our expertise ranges from sports betting and systems to daily fantasy sports and mobile wagering.”Related article: BMM bolsters education efforts with senior hire Topics: Legal & compliance Sports betting Strategy Tech & innovation DFS Regions: US 29th May 2018 | By contenteditor Tags: Fantasy Sports Email Addresslast_img read more

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LCG expands to crypto

first_img LCG expands to crypto London Capital Group (LCG) has expanded its offering to enable its clients around the world to trade contracts for difference (CFDs) products in cryptocurrencies.The new service will open up trading options to popular cryptocurrencies such as Bitcoin and Ethereum, both of which have seen their value rocket in recent years.Customers will be able to trade cryptocurrencies as pairs against fiat currencies, including the US dollar, euro, Swiss franc, Great Britain pound and Japanese yen.LCG has linked up with Global Advisors Holdings Limited to develop the extended service.“Cryptocurrencies have grown in prominence and popularity amongst traders in recent years,” LCG said.“Underpinned by innovative blockchain technology, cryptocurrencies are not issued or controlled by central banks or government agencies.“Their decentralised nature forms part of the appeal for traders, as cryptocurrencies, theoretically, cannot be manipulated or interfered with by outside forces.“Highly susceptible to news and announcements, cryptocurrencies are prone to market volatility, providing ample trading opportunities.”Opening up to crypto will carve out a new opportunity for LCG.On average, crypto customers are worth double the value of those who are yet to embrace the payment method, Winning Poker Network CEO Phil Nagy said in June.Last December, LCG started trading on the London Stock Exchange’s NEX Exchange Growth Market. Tags: Spread Betting Email Address Topics: Finance Clients can now trade with cryptocurrencies such as Bitcoin and Ethereumcenter_img Finance 12th September 2018 | By contenteditor Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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Commitee chair asks DOJ to reconsider Wire Act ruling

first_img A senior US politician has attempted to resurrect arguments in favour of restoring the Wire Act in a letter to US Deputy Attorney General Rod Rosenstein.Wisconsin Representative Jim Sensenbrenner, chairman of the House Subcommittee on Crime, Terrorism, Homeland Security and Investigations, asked Rosenstein as to whether he believes the Wire Act, which effectively acted as a federal ban on iGaming still has legal weight.His attempts to resurrect discussion over the act comes around seven years after the Department of Justice’s Office of Legal Counsel (OLC) said that the 1961 legislation was not applicable to online gaming, in a response to queries from the New York Lottery and Illinois Governor’s Office regarding online lottery sales. Recent developments in sports betting have come about despite the act still being on the statute book as legislation has been introduced at a intrastate level in states such as New Jersey.In his letter to Rosenstein, Sensenbrenner brought up old arguments that gambling could be used to fund terrorism and said only federal oversight of sports betting would protect the public from unscrupulous operators.Sensenbrenner told Rosenstein that evidence submitted convinced him that Congress must act to ensure “the public is protected, and any potential for exploitation by criminals is minimised in this post-PASPA era”.Describing the option of deferring responsibility completely to the states and “do[ing] nothing” as the “worst option” for Congress, he said two alternatives were the re-enactment of the federal ban and the adoption of uniform standards across the country.He wrote: “[Online] wagering… will allow for exploitation of internet gambling by criminal and terrorist organisations to obtain funds, launder money, and engage in identity theft and other cybercrimes.”In the closing half of the letter Sensenbrenner asked Rosenstein a series of questions about the Wire Act – the legislation used to outlaw online gambling until the issuance of a reinterpretation by the Office of Legal Counsel in 2011.He asked Rosenstein whether the DOJ supports the reinterpretation and whether the body was issuing guidance to states. He also asked Rosenstein if he foresees particular issues should Congress not react to the PASPA ruling.“To protect the American public and limit the ability of nefarious organisations from exploiting internet gambling, I believe Congress will develop a legislative response to the issues created by the Supreme Court’s decision striking clown PASPA,” he wrote. “Since Congress is examining the totality of sports betting in light of the Supreme Court’s PASPA decision, it would be beneficial to have answers to the[se] questions.”Sensenbrenner’s comments echo those made through previous attempts to “restore” the Wire Act, including those made by North Carolina Senator Lindsey Graham and Utah’s Jason Chaffetz. The campaign ultimately wants to disregard the OLC’s 2011 ruling on the Wire Act in order to revert to a 2002 interpretation that was used by the Department of Justice to prosecute offshore gaming sites targeting US customers.However, with the Department of Justice currently without a permanent Attorney General following the firing of Jeff Sessions by President Donald Trump earlier this month and seven states having launched sports betting, it seems unlikely that his request will lead to legislative changes.Despite this other lawmakers have pushed for a federal regualtory framework, with US Senate Minority Leader Chuck Schumer put forward a proposal for nationwide regulations to cover the sector in August.Aside from suggesting that sports wagering should only be open to those aged 21 and over and that sportsbooks should adopt responsible advertising policies and report suspicious betting activities, Schumer said that only official league data should be used – enabling the sports properties to benefit from a lucrative new revenue stream. Legal & compliance Topics: Legal & compliance Sports betting 19th November 2018 | By contenteditor Subscribe to the iGaming newsletter Commitee chair asks DOJ to reconsider Wire Act rulingcenter_img Influential politician Sensenbrenner also calls for federal oversight of gambling in letter to Rosenstein AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Email Addresslast_img read more

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Optimised and Risk-Free Digital Journeys

first_img This webinar covers:• What effective digital on boarding looks like from a consumer and architecture viewpoint• What the ‘value exchange’ needs to be in order to provoke data sharing and retain custom• How you can validate personal contact details at the point of registration, eliminating manual entry, while ensuring your capturing quality and accurate customer data – but then continuing to manage your data to enhance the ongoing relationship• How can new data, analytics and technology help relieve friction and act in the moments that matter • How to improve your confidence that the customer is genuine, old enough, supplying genuine bank details and that they are financially capable of managing the account 25th June 2019 | By AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Experian present what effective digital on boarding looks like from a consumer and architecture viewpoint. Tech & innovation Optimised and Risk-Free Digital Journeys Email Address Topics: Tech & innovationlast_img read more

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Gambling in Japan: The state of play

first_img Email Address 1st July 2019 | By contenteditor While casinos may not yet exist in Japan, what does the gaming market look like now? Natalie Meyer, founder and chief executive of cultural insight agency Tokyoesque, provides a breakdown on the current size and perception of the country’s gambling industry. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Legal & compliance Lottery Sports betting Social gaming Video gaming Gambling in Japan: The state of play Tags: Mobile Online Gambling Skill Games Video Gaming Casino & games While casinos may not yet exist in Japan, what does the gaming market look like now? Natalie Meyer, founder and chief executive of cultural insight agency Tokyoesque, provides a breakdown on the current size and perception of the country’s gambling industry.While casinos have historically been prohibited in Japan, gambling and gaming operate in a grey zone that can be difficult to define and understand. For instance, the lottery itself is considered to be entertainment, and as such there is no minimum age restriction and no tax on the winnings. And then there are the exceptions, such as Japanese bicycle racing (keirin) and horse racing (keiba), among others. With a strong emphasis on regulation, there is a high level of transparency around the industry.The legal gambling industry in Japan represents 6.1tril JPY ($56.6bil), which has gradually risen since 2012, with only the national lottery, Takarakuji, showing a decline. The actual scale of the market is much larger when taking into account lottery and pachinko, which are classified as entertainment. Including these elements, the industry as a whole is far larger at over 25.7tril JPY ($238.1bil), dominated by pachinko, the ball-based game similar to slot machines, but at a slower pace.2017 market size for each type of gaming: Pachinko: JPY19.5tn ($180.3bn) Horse racing: JPY3.3tn ($30.5bn) Boat racing: JPY1.2tn JPY ($11.4bn) Lottery: JPY1.0tn ($9.3bn) Cycle racing: JPY640bn ($5.9bn) Motorbike racing: JPY66bn ($600m)This does not include non-Japanese online operators, for whom there is a sizable potential. The gambling and casino industries have also recently been in the national spotlight, for both positive and negative reasons, since the Integrated Resort Implementation Law was passed in 2018, legalising casinos in the region under fairly strict conditions.As can be seen above, the infamous pachinko parlour, not formally considered gambling because there is no exchange of money, was worth over triple the size of the entire legal gambling market in 2017. Between 2006-2015, the industry experienced a decline, attributed to increasingly tough regulations and the advent of new platforms such as mobile gaming.These forms of gaming have grown up alongside modern Japan’s economy as a well known form of entertainment loosely associated with gambling, seen as cheap and sometimes even suspicious among some people. Data indicates the profile of Japanese gamblers is largely male (over two thirds) and led by those in their 40-50s (over half). Only 5% are in their 20s, a clear sign that there are little to no offerings being targeted at the younger demographic.Hence, here as in other aspects of Japanese culture, there’s a polarity: on the one hand, there are fears that the advent of the casino age in Japan will cause addiction, corruption and others negative impacts on the population. On the other hand, current forms of gaming that have been in the market for many years are viewed as acceptable and, for some, entertaining, albeit in a highly regulated environment. Nowhere is this clearer than in the negative perceptions of pachinko, establishments which nevertheless are nearly ubiquitous in Japanese cities. A recent study shows ‘pachinko’ elicits the following connotations:Pachinko is bad because… 56.7% the problem of gambling addiction 46.1% it is connected to the yakuza 34.2% poor quality players 29.4% it is gambling 29.1% foreigners manage pachinko parlours 24.5% pachinko parlours are tax evadersThese negative perceptions – whether true or not – seep over to other areas of gambling and gaming, and must be investigated and handled with care depending on the type of offering. For example, lotteries are perceived differently than online betting; and foreign operators, especially British and European, have a benefit that can be capitalised on – these regions are often seen as exotic and positive by Japanese consumers.Despite some negative perceptions, data shows that it is not necessarily the lowest income demographic that gambles the most. So while gambling may be seen as an activity for ‘poor’ people, this isn’t necessary the reality.This points to an opportunity to target multiple demographics, including middle class and high net worth players. While potentially obvious to a non-Japanese perspective, this may need to be carefully communicated within the Japan market. Inbound operators may be able to brand themselves as a new type of gaming offering to appeal to these groups.Navigating these waters requires significant care and consideration, first and foremost of the gaps in the current market, as well as potential advantages and pitfalls of being a non-Japanese brand.How can incoming brands make it simple for potential Japanese customers to visualise what a trustworthy, entertaining, potentially lux form of gaming would look like? In order to do this, we must not only take into account the atmosphere or the structure of the platform; but also the message that will appeal to a Japanese audience (and indeed which audience to target in the first place). It is possible to tackle the negative connotations of gaming, but they must be dealt with in a culturally sensitive way. For those who do, one of the largest markets in the world is waiting to be connected with.Bio: Born in Silicon Valley, Natalie Meyer obtained her MSc in Global Media & Communications after studying in London, Washington DC and Tokyo. Finding herself being approached by both Japanese and UK contacts requiring local access to global, innovative knowledge, Natalie established Tokyoesque to promote mutual understanding and connections across markets. Natalie works on a range of market entry and research projects throughout Europe and Asia, often dipping in and out of the startup scene, corporate Japanese world and Major Events industry. She has a keen interest in the impact of global cities, yoga, meditation, new technologies and cultural differences. Regions: Asia Japanlast_img read more

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Danske Spil to divest stake in games developer CEGO

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Danske Spil to divest stake in games developer CEGO 15th July 2019 | By Daniel O’Boyle Regions: Europe Nordics Denmark Denmark’s state-controlled gaming operator Danske Spil’s has agreed to sell its stake in CEGO to the games development studio’s original owners and the private equity fund Via Equity III.The divestment, which has been completed for an undisclosed sum, was approved by the operator’s shareholders at an extraordinary general meeting (EGM).Danske Spil acquired a 60% stake in CEGO, which was founded in 2000, in 2014. The Aalborg-headquartered supplier continued to operate independently from the state-owned operator following the deal.“In Danske Spil, we are proud to have participated in an exciting and profitable development journey with the founders of CEGO,” the operator’s chief executive Susanne Mørch Koch said. “Games of particular appeal to consumers been developed, and the company has grown significantly during Danske Spil’s co-ownership. It has been a good business for the benefit of society, customers and Danske Spil.”She explained that CEGO was ready “to take the next step in the company’s development”, which had prompted Danske Spil to sell is holding.“Therefore, we have now placed the entire company in the hands of the original owners and Via Equity,” Mørch Koch continued. “The sale of Danske Spil’s ownership interest has brought a nice return on the original investment, and the income from the sale goes to the Treasury.“We wish CEGO in its continued development,” she added. “It will be exciting to follow.”The transaction has also been approved by the Danish Gambling Authority, and is expected to be closed by the end of July 2019. Tags: Online Gambling Casino & games Subscribe to the iGaming newsletter Denmark’s state-controlled gaming operator Danske Spil’s sale of its stake in CEGO to the games development studio’s original owners and the private equity fund Via Equity III K / S has been approved. Topics: Casino & gameslast_img read more

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