Finance

Scientific Games Announces Institutional Investors, including Caledonia, to Acquire 34.9% Shareholding from MacAndrews & Forbes

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Barry Cottle, President and CEO of Scientific Games, said, "Scientific Games is well-positioned for future success given our industry leading portfolio of products and technologies, loyal customer base and talented leadership team. We are pleased to have the support of our refreshed Board and new investor base as we continue to execute on our strategy to drive meaningful long-term growth and shareholder value creation."

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OPAP Six-month Financial Report 2020

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Comment of OPAP’s Acting CEO, Mr. Jan Karas, on the H1 2020 results: “2020 has been an extremely demanding year so far, with the coronavirus pandemic leading to unprecedented challenges for both businesses and society. The decisive and prompt actions taken by OPAP to mitigate the pandemic’s impact for all of its stakeholders have been reflected in the company’s financial results, which were once more sound, as well as in its evolving socioeconomic footprint. When it comes to the financials, Q2 moved alongside our demanding expectations, leading to cash generation even during the harshest of times. Going forward, initiatives such as the constant enhancement of our online offering, prompt cost control actions, the swift adaptation to a new working norm, and the ongoing support of our network and our social stakeholders remain at the forefront of our attention. Undoubtedly, there will be additional hurdles on the road to recovery, but we are confident that we are well positioned to face any challenges.

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Sazka Group's profit in the first half of the year fell by 71% to CZK 1.17 billion

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"The decrease was largely due to measures against the spread of coronavirus, when we closed part of the branches. This was mainly the case in Greece and Italy. In the Czech Republic and Austria, the impacts were smaller. "said Robert Chvátal, CEO of the company. According to him, the future impact of the measures on companies and the economy as a whole is difficult to predict. "But it is clear that the pandemic has allowed us to accelerate our strategy of increasing the share of online betting," Chvátal added.

Read moreSazka Group's profit in the first half of the year fell by 71% to CZK 1.17 billion

INTRALOT Announces First Half 2020 Financial Results

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INTRALOT Group CEO Christos K. Dimitriadis noted: "During the first half of 2020 we have navigated through the COVID-19 pandemic as well as the effect of discontinued operations in Bulgaria and Turkey. We have revisited our strategy, accelerated its execution, reorganized the Group, gave priority to our customers and to our people, addressed our financials with prudency, diversified our portfolio even further, ensured continuity in service provision and identified ways to unlock the hidden potential of our digital technology. As a result, we have achieved significant growth in our US operation, substantial reduction of the Group’s OPEX and CAPEX and maintenance of strong liquidity levels. Most importantly we are continuously being prepared for the future and the new realities that are being established worldwide."

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Jumbo Interactive Announces FY2020 Results

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Jumbo’s international lottery advisor Richard Bateson said that the retailer has identified opportunities for its iLottery and iRetailer solutions in the US, as more states move lotteries online. “The iLottery proposition provides lotteries with an integrated digital lottery channel that is more efficient and effective than its industry competitors. The iRetailer proposition provides lotteries with a standalone digital channel that is self-sufficient and does not require operating cost or marketing budget to be diverted from the lottery’s main operations,” Bateson said.  The international ambition is to drive sustainable businesses in the UK, the US and Canada that will be used as a beachhead in each region to grow into other markets and sectors,” Bateson added.

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Inspired Reports Positive Second Quarter 2020 Results

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"We are pleased with the fundamentals of our business as we have navigated the impact of the COVID-19 Closures. Given these closures, we expected a negative impact in the second quarter, however the implementation of aggressive cost-savings measures and the strong demand in our online business, which more than doubled on a pro forma basis versus last year's second quarter, helped to compensate for the retail closures and we were able to achieve EBITDA profitability during the quarter," said Lorne Weil, Executive Chairman of Inspired.

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Caesars Reports Q2 Loss, Reeg Says Decision on iGaming, Sports Unit Could Happen This Year

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The combined company’s properties were closed for all of April, with some regional venues coming back online in May. Since the middle of that month, 51 Caesars venues reopened. Caesars CEO Tom Reeg said the company is encouraged by operating trends, in a recent statement. Bullish commentary on regional casinos is on par with what Eldorado and the old Caesars said following reopenings and in the weeks leading up to finalization of the $17.3 billion takeover. 

Read moreCaesars Reports Q2 Loss, Reeg Says Decision on iGaming, Sports Unit Could Happen This Year

IGT - International Game Technology PLC Reports Second Quarter 2020 Results

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"Our second quarter results reflect the intense impact of global lockdowns caused by the pandemic," said Marco Sala, CEO of IGT. "That said, thanks to strong North America Lottery performance and our swift adoption of cost-saving and avoidance measures, we delivered better cash flow than we expected back in May. Our resilience is a direct consequence of the diversity of our global portfolio of products and solutions. The improving trends we are currently seeing are encouraging, but we remain prudent with our planning. Our new organizational structure enhances our readiness to adapt to changes in market conditions."

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Scientific Games Reports Better than Expected Second Quarter 2020 Results

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Barry Cottle, President and Chief Executive Officer of Scientific Games, said, "I am very proud of how we are navigating the current environment, as evidenced by our strong cost containment and cash management, which allowed us to deliver better than expected cash flow for the quarter. This is a testament to our team's ability to effectively manage our business in the short term and maintain our strong customer relationships so we are set up for success as the economy begins to reopen. The diversity of our businesses and our position on the forefront of digital gaming were critical to allow us to successfully navigate the worst of this environment. We have the right team coupled with the best products across both land-based and mobile gaming to position us for future growth."

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