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William Hill Profits Drop by 91% Due to Covid-19 Crisis

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William Hill Profits Drop by 91% Due to Covid-19 Crisis
William Hill Profits Drop by 91% Due to Covid-19 CrisisReading Time: 2 minutes

 

William Hill has reported that its annual profits dropped by 91% after the pandemic forced the closure of its betting shops and saw live sports events cancelled. The group saw underlying pre-tax profits slump to £9.1m in 2020 from £96.5m in 2019.

Its betting shops were hit hard by repeated lockdowns and restrictions, with the retail arm slumping to a £29.5m loss as like-for-like revenues plunged 30%. William Hill’s online business delivered a 3% rise in earnings to £121.9m, but this was not enough to offset the retail woes.

Ulrik Bengtsson, CEO of William Hill, said: “In what was an extraordinary year I am immensely proud of how the group has responded and the resilience we have seen in our performance.

“We prioritised the protection and safety of both our colleagues and our customers, and our employees went above and beyond for which I thank them.

“In 2020 we put our strategic plans firmly into action, diversifying our geographical footprint, expanding our team’s capabilities and rebuilding our technology.

“We are embedding proprietary components across the platform architecture and are delivering a constant flow of new features including faster product experience, improved navigation and greater protection to our customers around the world.

“The performance in the second half is clear testimony that our strategy is bearing fruit. In the UK, the competitive position of our online offerings for both gaming and sports has been materially strengthened, and our omni-channel product is delivering encouraging early results.

“Retail has undergone regional disruption although where stores did re-open, they quickly traded towards pre-Covid levels.

“We are delighted with our international online performance, where our investment in our product and technology is producing clear benefits, particularly in light of the regulatory headwinds in Germany and temporary restrictions elsewhere.

“We will continue to benefit from our agile marketing engine, and the recent agreement to acquire Alfabet S.A.S. in Colombia and our licence in Argentina both offer further promising growth opportunities in Latin America.”

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Red Bull teams up with Challengermode to host Red Bull Solo Q tournament

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Red Bull teams up with Challengermode to host Red Bull Solo Q tournament
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Leading global esports platform Challengermode has teamed up with Red Bull to host the international qualifiers for its Red Bull Solo Q 1v1 League of Legends tournament, one of the world’s largest 1v1 amateur esports tournaments.

Pitting the best amateur League of Legends players in the world against one another, the winner of the tournament will get to experience the League of Legends All-Star Event in addition to competing against some of the biggest names on the scene – no teammates required. In 2020 the tournament attracted over 80,000 entrants, with even more expected for 2021.

With qualifiers and tournaments taking place throughout the year, this allows for almost anyone to get in on the action, with in-person global finals currently planned to take place at the end of the year. Competitors can register for their regionalized, international qualifier via the official Red Bull Solo Q site or the Red Bull Space on the Challengermode platform.

Philip Hubner, CBDO at Challengermode said: “A truly global tournament like Red Bull Solo Q is the perfect opportunity to showcase how the Challengermode platform can help esports tournament organisers scale their operations. With first round qualifiers on their own being 2048 slot tournaments, we look forward to supporting Red Bull in both national and international qualifiers in the year ahead as part of our own goal to make esports accessible to as many people as possible.

This deal forms part of Challengermode’s international expansion, with the company engaging in partnerships in the US to expand the reach of its grassroots esports platform to new territories.

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BOS Opposes Recent Report and Proposals of Swedish Equality Commission

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BOS Opposes Recent Report and Proposals of Swedish Equality Commission
BOS Opposes Recent Report and Proposals of Swedish Equality CommissionReading Time: 2 minutes

 

The online gaming operators’ association Branscheforenigen för Onlinespel (BOS) has slammed a report from Sweden’s Equality Commission which proposed that all gambling should be operated via a state-run portal.

The report, which the commission produced last year, compared its proposal to Sweden’s state monopoly on alcohol sales. It said such a system would allow the national gaming regulator Spelinspektionen to act as a gatekeeper.

It also proposed an amendment to Sweden’s constitution to restrict gambling ads and enforce mandatory warnings similar to those on cigarettes, such as “Most who gamble lose money” and “Gambling addiction increases the risk of suicide.” It also called for a daily limit on gambling spending, but didn’t propose an amount.

As part of a consultation on the report, which began in January, BOS attacked the proposals and said they demonstrated insufficient research on the sector.

It said in its response: “BOS rejects these proposals and hopes that future public investigations will focus more on the knowledge-gathering phase in investigative work in the future so that greater clarity can be brought regarding how gaming on the internet works and what consequences different interventions have.

“It is our belief that state internet portals will then not be relevant to propose again, nor restrictions on the constitutional freedom of expression.”

BOS criticised the commission for not consulting industry experts and warned over the falling market channelisation in Sweden.

It said: “The balancing act for gaming policy is to achieve as high a level of consumer protection as possible without the leakage to the unregulated gaming market becoming unacceptably high. It is not an easy task.

“This difficult balancing act is not something that seems to worry the Equality Commission. It now appears that the Equality Commission is coming up with proposals that go much further in a tightening direction than the state’s gambling policy inquiries.”

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Quixant Launches New Gaming Hardware Platforms

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Quixant Launches New Gaming Hardware Platforms
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Quixant, a global leader in gaming technology, has launched its new range of gaming hardware platforms.

The new range has been designed to meet the needs and regulations of the gaming world, to provide maximum performance based on budget, market and product needs of game manufacturers and includes a product category designed to cater to markets where value for money is key. All of Quixant’s gaming hardware platforms include the market-leading Quixant Software Hub.

“The last year for Quixant has been about preparing for the future and providing the gaming industry with solutions that deliver exceptional gaming experiences to a global consumer audience with a pent-up desire to enjoy the thrill of gaming once again,” Duncan Faithfull, COO of Quixant, said.

“Quixant has listened to its customers and the needs of the market and is delighted to be launching this new range of gaming hardware platforms that caters to the evolving needs of the gaming industry,” Duncan Faithfull added.

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