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Paddy Power Betfair to rename itself
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Paddy Power Betfair is planning to change its group name, as the company recorded an 11 per cent dip in profits after ramping up investment in its fledgling US sports betting business.
The company will be submitting the proposal at its annual general meeting (AGM) in May for a change to Flutter Entertainment to reflect its “increasing diversity”, although it stressed this would not affect consumer brands.
Details of the proposal came as Paddy Power reported pre-tax profits of £219 million for 2018, down from £247 million in 2017.
The group said revenues rose 7.3 per cent to £1.87 billion, but profits were hit by £24 million of spending on the US division, where it is looking to take advantage of the recently opened sports betting market.
Underlying earnings stripping out the US investment remained flat at £475 million—up 2 per cent excluding currency effects.
Paddy Power Betfair chief executive Peter Jackson said the group had “regained its mojo” after beginning to regain its market share in the UK last year, following several years of share losses.
But he added that it had been a “challenging year for the sector with regulatory and tax changes.”
On the name change, he said: “With a growing portfolio of brands, we plan to rename the group as Flutter Entertainment plc.”
“There are no plans to use this historical name for consumers, and we will seek shareholders’ permission for the change at our forthcoming AGM.”
The group insisted the new £2 stake limit for controversial fixed-odds betting terminals (FOBTs), which comes into effect on 1 April 2019, will not have a material impact on its sports-led retail strategy.
Source: Latest News on European Gaming Media Network
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Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry
- Innovative engagement strategy positions MeridianBet as a leader in CSR within the betting and gaming industry
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Transforming Customers into Environmentalists and Humanitarians
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Expanding Impact: A Year-by-Year Growth
The Meridian Donate platform has seen substantial growth in its scope and impact:
- Number of individual campaigns: Grew from 8 in 2021 to 20 in 2023
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In 2023 alone, the platform’s expansion into eight markets facilitated 20 customer-funded campaigns, directly benefiting 159 NGOs, up from 122 the previous year.
Continued Commitment to Innovation and Community Involvement
Meridian Donate not only showcases MeridianBet’s dedication to CSR but also redefines the role of digital marketing within the industry. By converting sports bettors into active CSR participants, Meridian Donate enhances customer loyalty and brand value, making it a critical element of MeridianBet’s market strategy.
Recent Successes and Future Outlook
In its recent operation, Meridian Donate has launched an ambitious global afforestation initiative, committing to plant 20,000 seedlings across various regions. This project not only underscores our environmental commitment but also enhances our brand’s community presence. Already, several hundred contributions have been recorded in the platform’s first month, indicating robust customer engagement and support.
The post Meridian Donate: Revolutionizing CSR in the Betting and Gaming Industry appeared first on European Gaming Industry News.
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Captivating Gameplay: Stunning graphics and seamless gameplay transport players to the heart of the action.
Bonus Bet: In Casino Hold’em, players can place a Bonus bet alongside their initial Ante bet. Even if the Play bet is lost, the Bonus bet remains unaffected and can still be won if the specific hand criteria are met.
Multiplatform Compatibility: Enjoy Casino Hold’em on desktop, tablet, or mobile devices, allowing players to play anytime, anywhere.
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The post Imagine Live Launches Casino Hold’em appeared first on European Gaming Industry News.
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The post Relax Gaming increases Italian presence via Octavian Lab aggregation deal appeared first on European Gaming Industry News.
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