L&G reaps reward from restructuring its US debt

first_img More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com KCS-content whatsapp whatsapp Show Comments ▼ Sharecenter_img Thursday 3 February 2011 8:00 pm Tags: NULL LEGAL & General has made a £46m pre-tax profit after buying back £271.3m of debt in the US.L&G has also cut its funding cost by £8m per annum through restructuring the debt, which was required as a reserve by its US life insurance business. The deal will add £82m to L&G’s capital buffers, its IGD surplus, which stood at £3.3bn in August.L&G was optimistic that dividends from its US life operation would be “sustainable and growing” after it produced a $50m payment in March 2010. “This announcement demonstrates our continued focus on improving return on capital from every business within the group,” chief executive officer Tim Breedon said. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionHero WarsThis game will keep you up all night!Hero WarsThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeBrake For ItThe Most Worthless Cars Ever MadeBrake For It L&G reaps reward from restructuring its US debt last_img read more

AOL splashes $315m to buy the HuffPo

first_img KCS-content 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily 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 ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamBetterBe20 Stunning Female AthletesBetterBe Monday 7 February 2011 8:05 pm AOL splashes $315m to buy the HuffPo center_img whatsapp Show Comments ▼ Tags: NULL Share AOL yesterday announced it has bought fast-growing news source the Huffington Post in a deal worth $315m (£196m).As part of the deal Arianna Huffington, co-founder and editor in chief of the US-based media outlet, will take charge of all of AOL’s editorial content. AOL chief executive Tim Armstrong said the deal gives his firm “an ability to accelerate our core strategy, accelerate the advertising strategy, and put a different brand ability in content media space.”AOL hopes to drive the site’s revenues from $31m last year to around $60m in 2011. Ian Maude, online analyst for Enders Analysis told City A.M. the deal fits AOL’s strategy of moving towards a low-cost, editorially driven content base but warned the price seems high.He said: “AOL is obviously assuming it can grow its audience and advertising revenue but even then this deal seems pricey.“Arianna is clearly a very important factor in the deal. Putting her in charge of editorial is placing a huge amount of faith in her.“In short, it’s a successful, growing business that has attracted a lot of attention. It isn’t cheap but neither is it Armstrong’s Bebo moment.” AOL suffered sharp declines in advertising sales and dial-up subscriptions in the fourth quarter of 2010, driving overall revenue down 26 per cent. to just $2.4bn.The deal, which places a 10 times premium on the Huffington Post’s 2010 revenues, comes after a string of disastrous acquisitions by AOL.Topping the list is its failed $350bn merger with Time Warner, which saw astronomical writedowns before AOL was spun off in 2009.The firm was also badly stung when it bought Bebo for $850m in 2008, before offloading it just two years later to Criterion Capital Partners for a rumoured $10m. last_img read more

UK property backers pulling out

first_img whatsapp KCS-content UK property backers pulling out Tags: NULL Sunday 27 February 2011 11:59 pm More than a third of lenders who backed UK property have pulled out since 2007, according to a new report from CB Richard Ellis (CBRE). The property consultancy says there are 107 senior lenders with a commercial real estate loan book in the UK, but only 69 are still actively lending. The growing shortage of debt to the property sector is expected to get worse in the next year, with the introduction of Basel III rules on banking capital. CBRE predicts non-traditional lenders such as insurance companies will become more involved in the sector. whatsapp Share 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 Show Comments ▼last_img read more

Diamond to be paid £6.5m bonus

first_img Diamond to be paid £6.5m bonus More From Our Partners Brave 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comPuffer fish snaps a selfie with lucky divernypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Monday 7 March 2011 7:21 am John Dunne whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily Sport XCelebrity Couples Who Are In It For The Long HaulDaily Sport XCar NovelsRare Photos Of Diana – No. 9 Will Surprise YouCar NovelsStudent SeaPut A Dishwasher Tablet Inside Your Oven, See WhyStudent SeaDry Eyes | Search AdsDry Eye Remedies That May Be Surprisingly EffectiveDry Eyes | Search AdsBlood Pressure SolutionTop Doctor: “Avoid These Blood Pressure Drugs”Blood Pressure SolutionSenior Living | Search AdsSenior Living Facilities In Scottsdale Are Now Affordable!Senior Living | Search AdsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailAuthors PickSee Demi Moore After Her Recent TransformationAuthors PickLearn It WiseA Staff Offended This Man, But She Regretted It When She Saw Him The Next DayLearn It Wise Bob Diamond, the new chief executive of Barclays, will be paid a bonus of £6.5m for last year, according to Reuters sources. Barclays will reveal remuneration details for executives later on Monday, before the full release of its annual report.Diamond is one of the highest paid bankers in Europe and could prove to be the best paid UK bank executive for 2010.The award is less than the 10 million pounds media reports said he was in line for and comes amidst a continuing scrutiny in the UK of industry bonuses and an agreement by banks to show restraint on pay, the person familiar with the matter said.The award will not include any upfront cash. It will consist of deferred shares and the rest in an instrument that is linked to Barclays’ capital strength and only pay out if its core Tier 1 capital adequacy ratio stays above seven per cent, the source said.The bank declined to comment.Diamond took over as chief executive at the start of this year after running the bank’s investment banking division. He was paid a base salary of 250,000 pounds.He waived his bonus for 2009 and 2008 but was paid £21m for 2007 and received big payouts in previous years which prompted former senior politician Peter Mandelson to describe him last year as “the unacceptable face of banking.”Barclays and its investment bank arm fared better than most rivals during the financial crisis, however, and emerged as one of the relative winners. Unlike Royal Bank of Scotland and Lloyds Banking Group it avoided taking taxpayer bailout cash, opting to instead raise funds with wealthy Middle East investors. center_img whatsapp Show Comments ▼ Tags: NULL Sharelast_img read more

David Cameron’s ad man gets top job at Havas

first_img David Cameron’s ad man gets top job at Havas 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 Tags: NULL Show Comments ▼ whatsapp whatsappcenter_img KCS-content Tuesday 8 March 2011 9:08 pm THE ADVERTISING executive behind David Cameron’s election campaign has been given the top job at French advertising group Havas.David Jones, who helped hand Cameron the keys to Number 10 as his ad man, will become chief executive of the firm following the shock resignation of its chief executive yesterday.In an unexpected move, Fernando Rodés told the group’s board of directors of his plan to quit, as the company discussed its full-year results.The firm said Rodés had quit to “give a new direction to his personal and family entrepreneurial activities” but that he would “remain associated” with the group.Havas, the fifth largest advertising group in the world, reported a 20 per cent increase in net profit to €110m (£97.4m) on revenues of €1.56bn.Jones, who currently heads up Havas’ flagship Euro RSCG advertising agency, will become one of a handful of foreign leaders of French firms.A Francophile, Jones will also be one of the youngest chief executives in the global advertising industry. During the 2010 general election campaign he worked closely with David Cameron and his former communications director Andy Coulson.He was the creative spark behind Cameron’s “dad’s nose, mum’s eyes, Gordon Brown’s debt” campaign but not the infamous “I’ll cut the deficit – not the NHS” poster series.His RSCG firm has been the Conservatives’ ad agency since 2007 and also counts US food giant Kraft and carmaker Peugeot as clients. Share 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 TodayBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img read more

VLT performance drives revenue growth for OPAP in Q3

first_img Operator posts year-on-year growth in revenue despite declines from lottery, sports and instant win verticals Finance VLT performance drives revenue growth for OPAP in Q3 Topics: Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 28th November 2018 | By contenteditor Subscribe to the iGaming newsletter Soaring revenue from its video lottery terminal (VLT) division saw Greek gaming operator OPAP report a 3.2% year-on-year increase in gross gaming revenue for the third quarter of 2018, despite declines across all other product verticals.The operator saw amounts wagered for the quarter ended September 30 fall 3.9% to €1.0bn (£883.8m/$1.13bn), with gross gaming revenue for the period up at €368.9m. This was largely due to VLT revenue growing 212.2% from Q3 2017, to €50.8m. As a result of this growth it now accounts for 13.8% of total group revenue.This helped offset the struggles of OPAP’s other product divisions. Lotteries still account for 51.4% of group revenue, but saw revenue fall 2.2% year-on-year to €189.6m. This was blamed on a decline Kino revenue, though the operator noted this was partially offset by the performance of the Joker game.Betting also struggled, with revenue down 13.2% at €97.5m, as a result of customer-friendly sporting results, especially in the latter stages of the FIFA World Cup. Instant win game revenue fell 11.0% to €31.0m, which after the VLT growth is now the smallest product vertical, contributing 8.4% of total income.The declines in lottery and instant win games led to a slight drop in commission paid out to OPAP sales agents during the quarter, which fell 0.1% to €90.3m. However with other commission rising 15.0% to  €11.3m, total gaming revenue-related expenses grew to €101.6m. Payroll expenses, including staff-related costs, were up 6.1% from the prior year at €18.5m.Marketing expenses, however, fell 10.9% year-on-year to €10.4m, largely as a result of a 24.6% decline in investment in corporate social responsibility (CSR) and sponsorship, which was down at €3.4m. Advertising spend also fell, though at a slower rate, to €7.0m.Other operating expenses, including IT-related costs and exceptional items, were up 44.7% to €37.0m.As a result earnings before interest, tax, depreciation and amortisation fell 6.1% to €87.2m for the quarter, with operating profit declining to €62.7m. Once finance-related costs and taxes for the quarter were stripped out, including income taxes of €17.2m, OPAP saw its net profit for Q3 2018 decline 10.1% year-on-year to €39.1m.For the nine months to September 30, 2018, amounts wagered fell 1.8% to €3.2bn, with gross gaming revenue rising 5.8% to €1.1bn. Operating expenses rose 5.5% to €213.0m, with EBITDA up at €244.6m.The operator saw its net profit for the first three quarters of the year climb 12.8% to €105.2m.“Our Q3 performance confirms OPAP’s steady progress in the delivery of our 2020 Vision,” OPAP chief executive Damian Cope commented. “Despite some unfavourable sports results, including the World Cup Final match itself, and the ongoing macroeconomic challenges, the OPAP team delivered strong like-for-like EBITDA growth, plus year on year revenue growth for the fifth quarter in a row.“Our VLTs operations once again increased their contribution while we continue to maintain a close control on costs across the company.”Looking at the early activity in the fourth quarter of the year, Cope said OPAP had enhanced its retail offering with the launch of new lottery and betting products, which had been well received by customers.The operator’s new online betting platform is also live, following OPAP’s acquisition of Stoiximan Group in September.“As we approach the seasonally busiest period of the year we remain confident in meeting both our own expectations and the long-term ambition of establishing OPAP as a world class gaming entertainment company,” Cope added. Email Addresslast_img read more

Swedish regulatory costs hit Kindred as profit dips in Q2

first_img24th July 2019 | By contenteditor Tags: Online Gambling Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Sports betting Swedish regulatory costs hit Kindred as profit dips in Q2center_img Casino & games Kindred Group has reported a year-on-year increase in revenue for the second quarter, but saw its gross profit decline partly as a result of new regulations in the Swedish market. Kindred Group has reported a year-on-year increase in revenue for the first half of its financial year, but saw its profits decline in part due to new regulatory costs in Sweden.Revenue for the six months ended June 30, 2019 was up 6% to £450.6m, though significant increases in operating costs hit earnings over the period. The Unibet operator saw cost of sales rise 19% to £201.0m, including a 32% increase in betting duties to £100.5m. This cut gross profit for the period, which fell 3% to £249.6m. Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled £61.0m, down from £88.8m in the corresponding period last year.Higher marketing costs (£106.8m) and administrative expenses (£105.6m) then contributed to operating profit declining by more than 50% from the prior year, to £37.2m. After finance-related costs, pre-tax profit was down 32% to £32.4m, with net profit falling 50% year-on-year to £27.6m.For the second quarter of the year, gross winnings revenue amounted to £226.2m (€252.5m/$281.5m), up 3% on £219.0m in the corresponding period last year.This growth was driven by a rise in sports betting, which was up from £104.9m in Q2 of 2018 to £108.9m. This rise comes despite Kindred having to contend with a tough comparative period last year, which included the early stages of football’s Fifa World Cup.Revenue from casino, poker and other games remained relatively level at £117.3m for the quarter.Western Europe remains Kindred’s core market by some margin, generating £135.9m in revenue in Q2 and accounting for 60% of overall revenue. Nordics followed with revenue of £67.4m – up from £61.9m last year – and a 30% share of total revenue.However, Kindred also noted an increase in costs across the business during the second quarter. Cost of sales climbed from £86.0m to £96.9, while marketing costs increased from £51.3m to £53.2m and administrative expenses from £46.9m to £55.6m.This had an impact on profit for Q2, with profit from operations down from £29.7m last year to £16.5m and EBITDA falling from £41.5m to £30.4m.Profit before tax also slipped from £28.9m to £14.7m, while profit after tax more than halved from £25.5m to £12.5m.Reflecting on the results, chief executive Henrik Tjärnström praised Kindred for achieving an increase in revenue in what he said was a period with “very tough” comparatives in 2018. He noted an 11% year-on-year rise in mobile revenue in Q2, pushing this to 77% of gross winning revenue in the period.Tjärnström ultimately put the EBITDA and profit declines down to new regulatory measures in Sweden.“As we have highlighted for a long time and as we saw in the first quarter of 2019, the new licensing regulation in Sweden has resulted in significant short-term margin pressure driven by higher betting duties but also higher marketing as we are investing for the longer term,” Tjärnström“In the Swedish market, we saw a significant improvement quarter-on-quarter, but EBITDA contribution was still down £9.2m when compared to the second quarter last year.”Tjärnström also spoke about increased spend in Q2, saying marketing costs were at their highest since 2013 when compared to other second quarters in non-major football tournament years. Kindred also continues to invest in technology and other operating expenditure to help drive future growth.“Whilst this may reduce profitability in the short term, we are confident that, as we have previously proven, this will drive future growth in gross winnings revenue and profits, particularly in locally licensed markets,” he said.“Other significant items affecting the quarter were the planned investments in the US, both in marketing and operating expenses, that contributed £1.6m of negative EBITDA in the quarter.”Tjärnström signed off with an update on the period from July 1-22, during which the daily average gross winnings revenue in GBP was 7% lower than in the full third quarter last year. Email Addresslast_img read more

Maltese regulator cancels UWin4U’s licence

first_img Email Address Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Southern Europe Malta Topics: Legal & compliance Maltese regulator cancels UWin4U’s licence The Malta Gaming Authority (MGA) has moved to cancel UWin4U Limited’s B2C gaming service licence in the country after finding the operator in breach of its regulations. 24th September 2019 | By contenteditor Legal & compliance The Malta Gaming Authority (MGA) has moved to cancel UWin4U Limited’s B2C gaming service licence in the country after finding the operator in breach of its regulations.The operator had been running the UWin4U.com website in Malta, but will now be required to cease operations after the MGA ruled that it breached paragraph E of the Third Schedule to the Gaming Act.According to the MGA, UWin4U failed to make payments to the regulator when required to do so under the terms of its gaming service licence.The cancellation means the operator is no longer permitted to carry out any gaming operations, register new players or accept new customer deposits in Malta.The MGA has instructed UWin4U to retain and provide access to all registered players to their accounts, as well as refund all funds standing to the credit of its customers.However, the MGA also said that it may be able to lodge an appeal against the decision.Last month, the MGA also cancelled RMI Limited’s B2C gaming service licence for a similar breach of regulatory conditions.RMI Limited, which had been operating the PokerGrant online poker site, was found to be in breach of paragraph E and H of the Third Schedule to the Gaming Act. Paragraph H requires licensees to make certain data available to the MGA.Image: Mike McBey Tags: Online Gamblinglast_img read more

Bet365’s Coates family named top UK taxpayer in 2018-19

first_img The founders of betting and gaming giant Bet365 paid taxes of £276m in the 2018-19 fiscal year, making it the UK’s biggest taxpayer for the first time. Topics: Finance People Regions: UK & Ireland 27th January 2020 | By contenteditor Finance Bet365’s Coates family named top UK taxpayer in 2018-19center_img The founders of betting and gaming giant Bet365 paid taxes of £276m (€327.9m/$361.3m) in the 2018-19 fiscal year, making it the UK’s biggest taxpayer for the first time.The Coates family, comprising Bet365 co-chief executives Denise and John, and the business’ chair Peter, moved ahead of JD Sports founder Stephen Rubin and his family to top the Sunday Times’ Tax List, having come second for 2017-19. Their total wealth was estimated at £6.86bn.Their contribution to public finances was almost double the £143.9m paid by the Rubin family, according to the newspaper’s estimates. This would be enough to pay 11,324 newly-qualified teachers’ salaries, based on minimum starting pay, the paper noted.The Times estimates that the business’ corporation tax payments, on profits which grew 14.8% year-on-year to £758.3m, to be around £43m in 2018-19. As its base remains in Stoke, rather than in Gibraltar or Malta, it paid an estimated £78.3m in social security contributions over the year.Denise Coates, who the paper described as “the country’s most impressive self-made woman”, was paid an estimated £276.6m, it continued. On this, she is likely to have paid income tax and national insurance contributions of around £130m.The operator paid a further £113.2m in UK corporation and payroll taxes, with a further £32.8m in tax thought to have been paid on dividends.“Over the past two years, Bet365 has also handed £160m to the Denise Coates Foundation, a charity run by the family,” The Times added.However, it noted that in the current climate, the business faces public and political pressure: “[Such] largesse is unlikely to silence those who fear the online gambling giant is growing rich from punters who may be vulnerable or poor.”The only other figures from the gambling industry to be ranked on the list were Fred and Peter Done, founders of Betfred. The brothers were ranked 22nd on the list, paying an estimated £44.5m in taxes from wealth of £1.25bn.This tax liability was divided between the Betfred business, run by Fred Done, and the legal and insurance operation Peninsula Business Services, for which Peter is responsible. Their combined tax liability was estimated at £23m, with a further £21.5m paid on £56.6m of dividends. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Addresslast_img read more

Sportradar launches social media integrity education for athletes

first_imgAndreas Krannich, managing director of Sportradar Integrity Services, said the business’ expertise meant it was well-suited to protecting integrity in Slovakian domestic football. 8th February 2021 | By Daniel O’Boyle Sportradar launches social media integrity education for athletes In addition, Sportradar will deploy its Fraud Detection System (FDS) for the Slovak Football Association (SFZ). The education programme consists of a series of webinars and workshops for sportspeople. These remind players of integrity risks that can arise when using social media, as well as best practice for social media use. Already, Germany’s top flight of ice hockey – the Deutsche Eishockey Liga (DEL) – has become the first league to sign up as a client for the service. Subscribe to the iGaming newsletter “The integrity and reputational risks which can arise when using social media are far-reaching,” Sportradar head of education and integrity services Andrew Whittingham explained. “Not only can failing to act with integrity online put individual users at risk of harm, it can also pose threats to the integrity of teams or clubs, leagues or competitions, or sport as a whole. “We are delighted to be working alongside the SFZ and offering our expertise to help safeguard their domestic football matches against integrity related threats,” Krannich said. “Drawing upon our 15 years of experience in the field of sporting integrity, and driven by our market leading FDS solution, we are committed to helping our sporting partners detect and prevent manipulation, and to identify and mitigate all forms of integrity risk.” If required, the SFZ will also have access to Sportradar’s intelligence and investigation services – which assists with investigations around integrity concerns – as well as its education offering. “We look forward to this cooperation and working together to protect the integrity of Slovakian football.” Sports integrity “By combining sessions to educate players, referees and officials simultaneously they are ensuring all participants in ice hockey understand the individual and collective responsibilities they have to maintain the highest integrity standards.”  Topics: Social responsibility Sports betting Sports integrity Product & technology Gernot Tripcke, chief executive of Deutsche Eishockey Liga, added he was delighted to have signed the partnership with Sportradar. “The workshops will definitely be helpful in proceeding with the greatest possible security in the social media area. Equally, it’s about anti-manipulation, which has always been extremely important to us as a league.” “The Slovak Football Association is committed to the anti-match-fixing fight, and by entering into partnership with Sportradar Integrity Services, we are demonstrating the importance we place on keeping our game clean,” SFZ integrity officer Jakub Čavoj said. “Their FDS bet monitoring solution provides vital oversight of the global betting market, enabling their integrity specialists to alert us to any irregularities.  “We’re excited to be working closely with [the DEL] and we commend the robust approach they’re taking to social media integrity education. Tags: Sportradar Data and integrity solutions provider Sportradar has launched its a new education programme to ensure athletes follow sporting integrity best practices in their social media use. “The players of the clubs are all active on social media several times a day and naturally want to make their own accounts as professional as possible,” Tripcke explained. Sportradar will use the FDS to monitor Slovakia’s lower-league matches and club friendlies, in order to detect, flag and assess unusual betting activity. Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Germany Slovakialast_img read more