Bayern Munich vs. Borussia Dortmund Bundesliga Odds, Time, and Prediction

Bayern Munich vs PSG Champions League Odds, Time, and Prediction


The first Der Klassiker of 2023 is a special match for numerous reasons. The big one is that Saturday’s game marks the debut of Thomas Tuchel as Bayern Munich’s head coach. Then, there’s the thing about these two being at the top of the table, with only one point separating them, meaning that this is practically a battle for the No. 1 spot on the Bundesliga table.

Bayern Munich vs. Borussia Dortmund Odds

Moneyline Odds
Bayern Munich -200
Draw +400
Borussia Dortmund +400
Goals Total Odds
Over 2.5 -303
Under 2.5 +240

*Odds taken from bet365 on Monday, March 27, 2023.

When, Where, and How to Watch?

  • Place: Allianz Arena in Munich, Germany
  • Date: Saturday, April 1, 2023
  • Time: 12:30 PM ET
  • How to Watch: ESPN+

Thomas Tuchel Making His Bayern Debut Against His Former Club

Last week, Bayern Munich announced that the club is ending Julian Nagelsmann’s contract and putting Thomas Tuchel in charge of the team instead. Tuchel will make his Bayern Munich debut against the team he used to lead a few years ago.

In fact, as the head coach of Borussia Dortmund, Tuchel really made a name for himself. His time at Dortmund made PSG appoint him as their boss in 2018, after which he also coached Chelsea from early 2021 to late 2022, winning the Champions League with the Blues along the way.

He’s got all the credentials to make everyone confident he’s gonna do a great job with his new club. The big question, however, is whether he’s had enough time to prepare the players for Der Klassiker.

Borussia Dortmund’s Title Ambitions Keep Growing

It’s been 11 years since someone other than Bayern Munich won the Bundesliga. It was Borussia Dortmund that did it in 2012, and now, they got a chance to do the same again. Their great performances since the start of 2023, combined with Bayern’s poor performances, have gotten them all the way to the top of the table.

Right now, Borussia Dortmund have 53 points, which is one more than second-placed Bayern Munich. With nine more rounds to go, beating Bayern Munich on Saturday would mean making a huge leap toward the title. So, can they do it?

Bayern Munich vs. Borussia Dortmund Prediction

Will Thomas Tuchel record a win in Der Klassiker on his very first day on the Bayern Munich job? We think he will. And it’s not just because of how good a manager he is. It’s also because his players are simply better than those playing for Borussia Dortmund. Plus, the visitors will be without several key men, including their first-choice goalie, Gregor Kobel.

Pick: Bayern Munich to win & over 2.5 goals





Source link

Addamo Denied as Jesper8 Leaves Trail of Stars in Their Wake

Addamo Denied as Jesper8 Leaves Trail of Stars in Their Wake



March 26 saw online poker’s biggest names take to the virtual felt, partly because PokerStars was running its $7.5 million guaranteed 17th Anniversary Edition of the Sunday Million. While the Sunday Million does not crown its champion until March 27, a bunch of high-stakes tournaments at PokerStars, PartyPoker, and 888poker did, including the ever-popular $5,200 Titans Event.

The Titans Event is a $5,200 buy-in affair that runs each Sunday at 7:15 p.m. BST. Tournaments with such a high buy-in tend to attract elite-level players like lightbulbs attract moths, and the Titans Event is no different.

Check out the Incredible PokerNews Online Tournament Calendar

Register for your favourite online poker tournaments here!

This week’s Titan Event drew in 85 entries, and saw a $425,000 prize pool created. Only the top 11 finishers won a slice of the pie, with Thomas “WushuTM” Muehloecker busting in 13th and “P0KERPR02.0” falling in 12th, popping the all-important money bubble. Of those superstars that cashed, “Sintoras” and “vincientvega” missed out on a seat at the final table.

Each of the nine finalists locked in more than $13,000 for their efforts, but there was a six-figure prize for the champion, so nobody wanted to pad their PokerStars bankrolls with the smaller amounts. Unfortunately, the very nature of tournament poker means there can only be one true winner, and the hopes and dreams of “Gogac sniper” were dashed when they bust in ninth for $13,391.

Astedt Has to Make Do With a Seventh-Place Finish

Niklas Åstedt
Niklas Åstedt

Canada’s “Stumpfed” joined the list of eliminated players after falling in eighth for $16,720, with Niklas “Lena900” Astedt collecting $21,635 after losing their chips and crashing out in seventh. Switzerland’s “25264556” banked $27,995 for their sixth-place finish.

Any of the final five players would have made a worthy champion, each of them household names. The final five became four when Jans “Graftekkel” Arends found himself void of chips and in possession of $36,225 prize money instead. Samuel “€urop€an” Vousden was eliminated in fourth for $46,875 before Justin “ZeeJustin” Bonomo fell by the wayside in third, a finish worth $60,655.

Bonomo’s untimely demise left Austria’s “Jesper8” in the unenvious position of being heads-up with the UK-based Australian Michael “imluckbox” Addamo. Usually, Addamo takes down the event when he navigates his way to heads-up, but this was one of the rare occasions that this scenario did not occur. Addamo busted in second-place for $78,487, leaving a delighted Jesper8 to turn their $5,200 investment into a $101,560 score.

$5,200 Titans Event Final Table Results

Place Player Country Prize
1 Jesper8 Austria $101,560
2 Michael “imluckbox” Addamo United Kingdom $78,487
3 Justin “ZeeJustin” Bonomo Canada $60,655
4 Samuel “€urop€an” Vousden Finland $46,875
5 Jans “Graftekkel” Arends Austria $36,225
6 25264556 Switzerland $27,995
7 Niklas “Lena900” Astedt Sweden $21,635
8 Stumpfed Canada $16,720
9 Gogac sniper Austria $13,391

Schemion Shines in the Sunday High Roller PKO

Ole Schemion
Ole Schemion

Ole “wizowizo” Schemion is no stranger to taking down major online poker tournaments. The accomplished German has won millions of dollars from this crazy game. On March 26, Schemion added $32,553 and another title to his already impressive resume after coming out on top in the $1,050 Sunday High Roller PKO.

Some 159 players bought in and created a $159,000 prize pool. Team PokerStars’ Sam “SamSquid” Grafton made it into the money place but was the final table bubble boy, his tenth-place finish coming with a combined prize worth $5,540.

The final table, as you would expect from a $1,050 buy-in progressive knockout event, was stacked with supreme talent. However, the waters became less shark-infested with each subsequent elimination.

Smiljkovic Time at the Final Table Was Limited

Daniel Smiljkovic
Daniel Smiljkovic

Daniel “SmilleThHero” Smiljkovic was the first of nine finalists to bow out, his demise in ninth resulting in a $4,827 payday. Mustapha “lasagnaaammm” Kanit, Rodrigo “seijistar” Seiji, and German star “Sintoras” followed Smilijkovic to the sidelines.

“janis1717” of the United Kingdom crashed and burned in fifth, Audrius “Stakelis24” Stakelis saw his tournament end in a fourth-place finish, before the Sunday High Roller PKO progressed to the heads-up stages when “CL0D0MIR0D” of San Marino, a country with a population of only 33,750, busted in third.

Heads-up pitted Schemion against Brazilian sensation Renan “Internett93o” Bruschi. After an intriguing one-on-one battle, Schemion came out on top, and got his hands on $32,553, resigning Breschi to a $23,022 consolation prize.

$1,050 Sunday High Roller PKO Final Table Results

Place Player Country Bounties Prize Total Prize
1 Ole “wizowizo” Schemion Austria $18,339 $14,214 $32,553
2 Renan “Internett93o” Breschi Brazil $8,808 $14,214 $23,022
3 CL0D0MIR0D San Marino $2,781 $9,595 $12,376
4 Audrius “Stakelis24” Stakelis Lithuania $3,390 $7,424 $10,814
5 janis1717 United Kingdom $875 $5,744 $6,619
6 Sintoras Germany $2,812 $4,444 $7,256
7 Rodrigo “seijistar” Seiji Brazil $1,468 $3,438 $4,906
8 Mustapha “lasagnaaammm” Kanit United Kingdom $1,593 $2,660 $4,253
9 Daniel “SmilleThHero” Smiljkovic Austria $2,593 $2,234 $4,827

Other PokerStars Highlights From March 26

There were plenty of other big scores at PokerStars on March 26, not least an impressive $54,380 haul for “Marusia1980” after they triumphed in the $530 Bounty Builder. Elsewhere, there were sizeable prizes awarded to the likes of Joao “XxJoaoFeraxX” Otavio, Pedro “PaDiLhA SP” Padilha, and Czech grinder Vojta “vojta555cz” Skalak.

Tournament Entrants Prize Pool Champion Prize
$530 Bounty Builder 692 $346,000 Marusia1980 $54,380*
$109 Sunday Warm-Up 1,681 $168,100 viejojuan5 $25,525
$109 Bounty Builder 1,634 $163,400 ddonkat $23,936*
$109 Sunday Fenomeno 1,544 $154,400 URMYLeNoR $21,512
$1,050 Sunday Supersonic 65 $66,030 13santoy13 $20,517
$109 Sunday Cooldown 1,635 $163,500 Joao “XxJoaoFeraxX” Otavio $19,005*
$215 Sunday Supersonic 494 $101,151 Pedro “PaDiLhA SP” Padilha $17,932
$1,050 Sunday Cooldown 45 $45,000 Vojta “vojta555cz” Skalak $17,219*
$1,050 Sunday Warm-Up High Roller 63 $63,000 aminolast $11,401

*includes bounty payments

Santerne Smashes the PartyPoker Grand

Seventy PartyPoker players contested The Grand this weekend, each paying $1,050 for the chance to become a poker champion. Only one player could claim the title, and it was Malta’s Thomas Santerne that did exactly that.

Team PartyPoker’s Jaime Staples was the unfortunate soul that burst the money bubble; Staples’ tournament ended in a 14th place finish. The likes of Joachim Andersson and Ionnias Angelou Konstas finished in the money, but fell shy of a final table appearance.

Fernando Olimpio was the first of two Brazilians to be relieved of their stacks, crashing out in ninth for $2,890. Alex Kulev, Gabriel Baleeiro, and Jonathan Proudfoot soon followed Olimpio to the sidelines.

Fabrice Bigot
Fabrice Bigot finished third

Bulgarian grinder Boris Angelov could not progress deeper than fifth before Trevor Reardon’s tournament came to a halt in fourth, a finish good for $6,382. Fabrice Bigot, who you may recall, won the recent WPT Prime Paris Main Event for €177,240, crashed by the wayside in third here, and banked $8,684.

Santerne locked horns with Swedish veteran Jerry Odeen for the title, and the Malta-based player got the job done. The victory came with the title of champion in addition to $18,806, while Odeen collected $12,344 after yet another deep run in a high-stakes online poker event.

The $1,050 Grand Final Table Results

Place Player Country Prize
1 Thomas Santerne Malta $18,806
2 Jerry Odeen Sweden $12,344
3 Fabrice Bigot United Kingdom $8,684
4 Trevor Reardon United Kingdom $6,382
5 Boris Angelov Bulgaria $4,912
6 Jonathan Proudfoot Ireland $4,011
7 Gabriel Baleeiro Brazil $3,483
8 Alex Kulev Ireland $3,184
9 Fernando Olimpio Brazil $2,890

Other PartyPoker Highlights From March 26

Tournament Entrants Prize Pool Champion Prize
Super $320 113 $33,900 ASAP JARDA $9,352*
Super $530 63 $31,500 Unfollow $9,094*
Super $55 1,311 $65,550 Onzie II $8,003*
Super $215 147 $30,000 xXGlamBabeXx $6,778*

Farrugia_1 Pads Bankroll in The Festival Online at 888poker

The Festival Online at 888poker

The most exciting result from 888poker this weekend came courtesy of The Festival Online, and the $525 buy-in $40,000 guaranteed High Roller PKO specifically. It saw 92 players create a guarantee-busting $46,000 prize pool. Only the top 12 finishers won a slice of the main prize pool, but dozens more saw some return on their investment thanks to the bounties that were in play.

Everyone at the nine-handed final table won between $1,377 and $14,214, with bounty payments included. “SilenziO” was the final table’s first casualty. The likes of “raisebot,” “QdEqTeCalaz” and 888poker regular “wellyxx” followed SilenziO to the rail.

Montenegro’s “Hvalavam” and “CushyPunt” busted, leaving only a trio of players in the hunt for the title, who became two after Swedish high-stakes guru “Perrymejsen” bowed out in third.

“Farrugia_1” and “GoodStoryDMG” fought it out for the title and the lion’s share of the $46,000 prize pool. The battle went Farrugia_1’s way, and the collected a total prize weighing in at $14,214, leaving the runner-up to console themselves with $6,276.

$40,000 The Festival Online High Roller PKO Final Table Results

Place Player Country Bounties Prize Total Prize
1 Farrugia_1 Malta $8,843 $5,370 $14,214
2 GoodStoryDMG Belarus $906 $5,370 $6,276
3 Perrymejsen Sweden $2,281 $3,036 $5,317
4 CushyPunt   $1,515 $2,208 $3,723
5 Hvalavam Montenegro $1,156 $1,610 $2,766
6 wellyxx Finland $687 $1,207 $1,895
7 QdEqTeCalaz Brazil $562 $977 $1,540
8 raisebot Luxembourg $625 $805 $1,430
9 SilenziO   $687 $690 $1,377

There’s still plenty of time to get involved in The Festival Online’s events because the series runs until April 13. The table below shows all of the upcoming events that you can get your teeth into.

Day Time (BST) Buy in Tour Name GTD
Mon, Mar 27 14:00 $160 Texas PKO Day 1 Turbo
Mon, Mar 27 15:30 $160 Texas PKO Day 1 Turbo
Mon, Mar 27 17:00 $160 Texas PKO Day 1 Turbo
Mon, Mar 27 18:00 $160 Texas PKO Day 1 Hyper
Mon, Mar 27 20:00 Texas PKO Day 2 $150,000
Tues, Mar 28 18:30 $55 PLO 6-Max $2,000
Tues, Mar 28 19:00 $22 Mystery Bounty $15,000
Tues, Mar 28 19:00 Texas PKO 8-Max Final Table stream
Thurs, Mar 30 17:00 $109 Texas Super KO $12,000
Thurs, Mar 30 17:30 $22 Texas Low Roller $10,000
Sun, Apr 2 17:00 $11 Sunday Big Shot 11 $15,000
Sun, Apr 2 19:00 $109 Sunday Big Shot 109 $100,000
Sun, Apr 2 19:00 $22 PLO R&A Low Roller $3,000
Sun, Apr 2 19:30 $525 Sunday High Roller $40,000
Tue, Apr 4 18:30 $55 Mystery Bounty 6-Max $18,000
Tue, Apr 4 19:00 $22 Mini Mystery Bounty 6-Max $15,000
Thur, Apr 6 17:00 $109 PKO 8-Max $12,000
Thur, Apr 6 17:30 $22 Mini PKO 8-Max $10,000
Thur, Apr 6 19:00 $215 Main Event Day 1
Thur, Apr 6 21:00 $215 Main Event Day 1 Turbo
Fri, Apr 7 17:00 $215 Main Event Day 1
Fri, Apr 7 19:00 $215 Main Event Day 1
Fri, Apr 7 21:00 $215 Main Event Day 1 Turbo
Sat, Apr 8 17:00 $215 Main Event Day 1
Sat, Apr 8 19:00 $215 Main Event Day 1
Sat, Apr 8 21:00 $215 Main Event Day 1 Turbo
Sun, Apr 9 15:00 $215 Main Event Day 1
Sun, Apr 9 17:00 $215 Main Event Day 1
Sun, Apr 9 17:00 $55 Micro Mystery Bounty Closing $5,000
Sun, Apr 9 19:00 $215 Main Event Day 1
Sun, Apr 9 19:00 $22 Mini Mystery Bounty Closing $25,000
Sun, Apr 9 19:30 $525 High Roller PKO Closing $40,000
Sun, Apr 9 21:00 $215 Main Event Day 1 Turbo
Sun, Apr 9 22:30 $215 Main Event Day 1 Hyper
Mon, Apr 10 14:00 $215 Main Event Day 1 Turbo
Mon, Apr 10 15:30 $215 Main Event Day 1 Turbo
Mon, Apr 10 17:00 $215 Main Event Day 1 Turbo
Mon, Apr 10 18:00 $215 Main Event Day 1 Hyper
Mon, Apr 10 20:00 Main Event Day 2 (ITM) $200,000
Tue, Apr 11 19:00 Main Event Final Table stream
Thur, Apr 13 19:30 $109 Afterparty $15,000





Source link

Relax Gaming Secures B2B License in Sweden

Relax Gaming Secures B2B License in Sweden


Relax Gaming, a leading online gambling content supplier and aggregator has secured a license to operate in Sweden. The new B2B, granted by the Swedish Gambling Authority, will officially allow the company to offer its products in the Swedish market.

The permit acquisition is in line with Relax Gaming’s ambition to expand its footprint in regulated markets all over the world. The new development is the latest in a string of market entries, which has seen the aggregator secure operating licenses in the Canadian province of Ontario and in Greece.

Now that Relax Gaming has been greenlit to supply operators in Sweden with its products, players will soon be able to experience some of the best games the supplier has to offer. Relax’s industry-leading portfolio includes major fan favorites such as Temple Tumble 2 Dream Drop, Money Train 3 and Book of Power. The operator is certain that these games are going to be a hit among operators and customers alike.

Relax’s business in the Nordic country will be overseen by the Swedish Gambling Authority, the local gambling regulator.

Rachel Winberg, Relax Gaming’s head of regulatory compliance, commented on the new permit acquisition. She said that her team is thrilled that its products and content were approved by the local authority and noted that this will allow Relax to provide thrilling entertainment to players in the country.

Winberg also pointed out that Relax will remain committed to player safety while seeking to entertain people with premium games. She lauded Sweden as a mature market and said that Relax Gaming is happy to continue offerings its titles there.

It is no secret that we place great emphasis on broadening our reach and take great pride in showcasing our content across established jurisdictions. We couldn’t be more pleased to be able to continue offering our quality games in a mature market like Sweden.

Rachel Winberg, head of regulatory compliance, Relax Gaming

Relax Gaming is best known for its rich portfolio of over 4,000 games. The company’s titles include games developed by its proprietary studio, as well as aggregated content from third-party studios.

Thanks to the richness of its content, Relax Gaming has cemented itself as one of the leading iGaming providers. This is further attested by the recent awards secured by the company – Relax was crowned as the Best Mobile Gaming Software Provider at the EGR B2B Awards and Casino/Slot Developer of the Year at the SBC Awards. In addition, the company received GGA’s Product Launch of the Year for Dream Drop Jackpots in February.

In other news, Relax Gaming recently added Studio 21 to its Powered By Relax platform.



Source link

Bill Proposing Cardroom Expansion Gains Traction in California

Southampton FC Looks for Sportstech Disruptors with “Future of Football” Program


The Gambling Control Act of 1997 in California restricted the expansion of cardrooms in the state. After it was extended a few times, it finally expired at the start of this year. Under the Gambling Control Act of 1997, it wasn’t possible for new cardroom licenses to be issued. At the same time, such businesses were not allowed to expand their offering by adding new gaming tables.

Now, a new proposal seeking to gradually expand the gambling market in the state is gaining traction. Assembly Bill 341 (AB341), was introduced by Assemblymember James Roms and is co-authored by Assemblymembers Greg Wallis and Evan Low, as well as State Senators Rosilicie Bogh and Bill Dodd. The proposal’s authors also include Assemblymembers Mike Gipson, Devon Mathis and Eduardo Garcia.

AB341 proposes cardrooms in the state to gradually expand by adding new tables. The proposal already enjoys wide support from the California Cardroom Alliance, California Cities for Self-Reliance JPA, Communities for California Cardrooms, as well as the California Nations Indian Gaming Association (CNIGA). Additionally, AB341 is backed by cardrooms and tribes around the state.

The Bill Advances to the Senate

Last week marked a major milestone for the new proposal as it gained traction and passed the California State Assembly. In a 68-1 vote, AB341 successfully passed the state’s Assembly and will now go to the Senate.

The proposal calls for the expansion of cardrooms businesses in the state by allowing them to increase the number of gaming tables. If AB341 gets signed into law, it would allow cardrooms in California that hold a license and have 20 gaming tables or less, to increase the number of gaming tables. Such businesses, under the proposal, would be allowed to expand their offering by adding up to 10 gaming tables over a period of 20 years.

If the law comes into effect, cardrooms would be allowed to add two new gaming tables within the first year. Then, they would have the option to add up to two gaming tables every four years. This, according to the supporters of the proposal, would allow for the gradual expansion of the market, allowing businesses to grow while at the same time ensuring that the market won’t be overpopulated.



Source link

Depression Drug Turns Patients into Pathological Gamblers

Depression Drug Turns Patients into Pathological Gamblers


The drug in question, aripiprazole, has been flagged as a potential catalyst of gambling addiction, the National Problem Gambling Clinic has said. According to the treatment organizaiton, there has been a surge in gambling addiction after patients started taking the drug.

Turning Mental Patients into Gambling Addicts

According to Prof Henrietta Bowden-Jones, a psychiatrist who is in charge of the clinic, this matter needs to be addressed head-on and more awareness needs to be brought on the issue. Bowden-Jones is confident that general practitioners should stop prescribing the drug to treat mental issues as this prompts patients into addictions that could arguably have a more devastating impact on people’s lives.

The issue is much more serious than thought, and Bowden-Jones believes that the drug is directly responsible for addictive behavior and tendencies, and not just a “side effect.” In her own account:

We constantly hear about mental health teams not being aware. More needs to be done to prevent people from being put on aripiprazole without being warned and monitored.

Prof Henrietta Bowden-Jones

According to the clinic’s own data, some 9% of people who sought treatment had been taking the drug, or 30 out of 359 registered cases. The connection between the drug and addiction has only become apparent recently,  Bowden-Jones explained, urging for immediate action to tackle the matter in collaboration with GPs and other medical specialists who may be prescribing the drug to treat a range of issues.

Another matter to be taken into consideration is that doctors may not be aware that their patients are dealing with or experiencing gambling issues. Often, patients could be reluctant to actually step forward and admit to having a problem.

A Well-Known Side-Effect of the Drug

Bowden-Jones urges medical practitioners to actively seek to find out more about their patients and whether they experience gambling-related harm. In general, people who experience psychiatric illness are far more likely to be suffering from gambling addiction, says Paul Kanolik, a lawyer who is dealing with gambling cases, cited by The Guardian.

People suffering from such issues have been more likely to end up raking up a huge gambling debt, Kanolik noted. However, not everyone is unaware of the effect the drug has. According to the Medicines and Healthcare products Regulatory Agency, pathological gambling and impulse control disorders are well-recognized side-effects of the drug. Bowden-Jones’s call for action comes at the right time.



Source link

White Hat Studios and Caesars Expand Content Alliance to PA

Caesars Sportsbook Goes Live ahead of Massachusetts Market Launch


The partnership allows both companies to benefit from their operations in the United States. The supplier will be able to expand its acclaimed titles in one of the fastest-growing iGaming markets in the United States whereas Caesars will grow its footprint with local gamers in the state.

The operator is happy to add many of the supplier’s top-performing titles, including Almighty Buffalo Megaways, Deal or No Deal Megaways: The Golden Case, ted, and other branded games that have been developed by White Hat Studios and are the company’s signature style.

Among those are also White Hat titles that were developed as branded titles for Caesars, including Blackjack Player’s Choice, American Roulette, and Multi-Hand Blackjack.

White Hat Studios CEO Andy Whitworth welcomed the opportunity to see the company’s supplier license pay off by setting up a new content alliance with a prominent operator such as Caesars. Whitworth said:

We truly value our partnership with Caesars and are thrilled to have taken the collaboration to the next level by launching together in the state of Pennsylvania.

White Hat Studios CEO Andy Whitworth

Whitworth said that his company was very much determined to team up with Caesars and continue working with the prominent operator and brand in the Pennsylvanian iGaming market.

“We’re thoroughly looking forward to seeing Caesars’ customer base in Pennsylvania experience our slots and table games that continue to attract the attention of casino players across the US,” the executive added.

Continuing to Grow Together Across the United States

The news was naturally welcomed by Caesars Digital SVP of iGaming Matthew Sunderland who was similarly chuffed to see White Hat Studios’ top-performing and high-quality content make it to the operator’s library of games.

This is not the first time the two companies have worked together in the regulated iGaming market in the United States. The pair previously collaborated on a similar content alliance in Michigan, another high-performing and regulated iGaming market.

White Hat Studios is also the author of Almighty Buffalo Megaways, which was celebrated as the Top Performing New Online Slot at the 2023 Eilers & Krejcik Gaming Awards.



Source link

Flutter Shareholders to Vote on US Listing Resolution

Flutter Shareholders to Vote on US Listing Resolution


Global gaming group Flutter Entertainment announced today that its Board of Directors has decided to put to shareholders at the forthcoming annual general meeting (AGM) in April the proposal for an additional share listing in the US.

Wide Consultation Showed Strong Support

The decision to put to shareholder vote the idea of listing Flutter ordinary shares in the US came after a period of consultation with the holders of a significant majority of Flutter Entertainment’s issued share capital which showed very strong support for the proposal.

The FTSE-listed gaming and entertainment company announced on February 14 it would be seeking the opinion of its shareholders on a potential secondary listing of the group in the US as part of the group’s efforts to pursue its long-term strategic goals.

Back then, the Board noted the growing importance of FanDuel to the group, as highlighted by the capital markets day in New York on November 16, and in line with the expectations that this trend is likely to continue and make FanDuel the group’s largest business by revenue and an ever-greater proportion of its overall value, the Board proposed the idea of issuing a small listing in the FanDuel brand.

Further evaluating the potential secondary ordinary shares listing of the group, the directors outlined a number of long-term strategic and capital markets benefits, including strengthening the group’s profile in the US, facilitating the recruitment and retention of talent, providing access to new capital markets and groups of investors, boosting the overall liquidity in Flutter shares, and the opportunity to pursue a primary US listing under one of US Indices.

Targeting US Listing during the Fourth Quarter

Acting on the results of the wide consultation with shareholders representing a significant majority of the issued share capital of the group, the Board will ask shareholders at the AGM on April 27, 2023, to vote on a resolution comprising a number of changes to Flutter’s articles of association that are deemed necessary for the US listing.

The resolution will need the approval of at least 75% of the votes of shareholders cast personally or by proxy, and if successful, the Board is planning to implement the ordinary shares listing in the US during the fourth business quarter of 2023.

Earlier in March, Flutter Entertainment released its financial results for the twelve months ended December 31, 2022, posting an increase in revenue and gross profit of 27% and 20%, respectively, driven by a 49% increase in its online segment.



Source link

NagaCorp Returned to Profit in 2022 Helped by ASEAN Reopening

NagaCorp Returned to Profit in 2022 Helped by ASEAN Reopening


NagaCorp Ltd, a company incorporated in the Cayman Islands with limited liability and operator of NagaWorld integrated casino resort in Phnom Penh, Cambodia, published its full-year 2022 financial results, posting a net profit.

Positive Financial Results

For the twelve months ended December 31, 2022, NagaCorp generated revenue of $460.7 million, more than doubling its 2021 reading of $225.9 million. Compared to 2019 ($1.755 billion), 2022 revenue is down by 73.8%, casting aside any notion of pre-pandemic recovery.

Turning to the company’s shareholders, Timothy Patrick McNally, chairman of NagaCorp, highlighted the positive operational and financial results of the business that was impacted by the pandemic in the previous two years.

“The gradual recovery of our business and resiliency of our earnings in the face of major market disruptions placed NagaCorp as only one of the two regional gaming companies to achieve profitability during the period,” McNally stated.

Gross profit for the largest hotel, gaming and leisure operator in Cambodia was $376 million, up 162% on the previous year but down 55.6% compared to the pre-pandemic 2019.  50% of it, or $189.8 million, came from mass market table gaming, mass market electronic gaming machines contributed an additional 28%, or $103.9 million.

EBITDA for the twelve months at the gaming and hospitality operator listed on the Main Board of The Stock Exchange of Hong Kong came at $245.4 million. In 2021, EBITDA was just $15.6 million. The huge increase in EBITDA allowed NagaCorp to register a net profit of $107.3 million for the year as compared to a loss of $147 million in 2021.

ASEAN Reopening, Cost Control

The stable financial results were attributed to the gradual reopening in ASEAN and continued stringent cost control measures which resulted in a higher profit margin. The recovery of Cambodia tourism and visitations to NagaWorld also contributed to the bottom line of the operator.

NagaCorp reported that the average daily business volumes for its mass market and premium market segments in the year have recovered by 76.8% and 66.7%, respectively, compared to the pre-pandemic peaks in 2019. Both mass market and premium market gaming contributed about 94% of NagaCorp’s total gaming revenue.

The company’s non-mass referral VIP business declined during the year but as the number of direct flights to Phnom Penh continued to increase, the average daily numbers posted stable growth.

Non-gaming revenue of the company increased significantly year-over-year positively impacted by the reopening of business operations and the easing of travel policies in Cambodia and other countries in the region that increased footfall and occupancy rates.

“We believe that the long-term prospects and outlook of the Company are favourable, with the return of tourism and continued investment in the local Cambodian economy,” concluded McNally on the company’s future outlook, expressing the Board’s appreciation to employees, shareholders, customers and suppliers.



Source link

Tag

Random Posts