Saturday, January 19, 2019
Reflex Gaming Pulse LB

Tag: Finance

Ireland department of finance swayed betting tax hike

Ireland, finance, betting tax, hike
Irish finance minister Paschal Donohoe was informed that the “opportune time” had come to double Ireland’s betting tax before his inclusion of the measure in the country’s budgetary bill for 2019. The proposed tax increase from 1 to 2 percent-the first tax increase of its kind since 1975 - has been met by fierce opposition from the Irish bookmakers, to...

Brighton Pier Group reflects on “active” year of reinvestment

Income gains may not have been huge for Britain’s fourth most highly-trafficked free leisure attractions last year, but savvy investment for growth certainly was. Brighton Pier Group’s acquisition of the Paradise Island mini-golf brand is evidence of a confident company leaving chairman “Cool Hand” Luke Johnson confident of the BPG’s positioning. The year ending July 1 2018 saw the Brighton...

FOBT stakes brought forward: Industry, politicians and finance sector reacts

FOBT, stakes, Industry, politics, finance
Whilst the week may have seen no small degree of political upheaval and dissent, there was near unanimity in the response to the government’s turnaround on the timing of new FOBT stakes. BACTA chief executive John White called it “a victory for common sense,” adding that “there was never any justification for being delayed beyond April 1.” “The right decision...

Select secures new £5m facility

Select Gaming, finance, pub retail, uk
Select Gaming announced this week that it has completed the refinancing of its £5.2m credit facilities. The conclusion of this process firmly cements the company’s position as the UK’s leading independent operator to the pub retail sector. John Powell, Managing Director commented, “Our refinancing strategy was a key objective for 2018 and we are very pleased to have completed this...

Castle Bingo remains “cash generative” against trading headwinds

Castle Bingo remains cash generative
Cardiff-based bingo chain Castle Bingo saw a healthy increase in revenue last year, but has conceded that landed bingo’s forward-looking picture remains challenging; a forecast Castle is taking head-on. Welsh bingo operator Castle Leisure netted £32m in revenue across its estate landed in the year ending September 30 - with six of its eleven clubs defying market trends and post...

Three-star Luxury: AGC group claim 2017 as “satisfactory”

Admiral Casino
Revenues were up but profit dipped at Luxury Leisure last year, as the new giant in the AGC sector rallies around its Admiral brand. Financials filed by Luxury Leisure, the Novomatic-owned company operating the Admiral AGC brand, show that its gaming revenues were up by 4 per cent last year, with total turnover in excess of £62m. The posting represented a...

“There is a need for a great deal more money, than simply the money that we are asking for”

Marc Etches
COINSLOT: You’ve doubled your annual spending, but you are not asking the industry for more money this time because it’s coming from bad behaviour. I suppose the question is, next time, when you can’t rely on bad behaviour, is the industry going to be asked for more money? Marc Etches, CEO of GambleAware: So just to be clear,we set out...

Cashless under review as 300 ATMs close per month

ATM cashpoint
ATM network provider Link has launched an independent review into the effect of a cashless society on communities and small businesses, but many in the amusements industry are already feeling the crunch from cash machine closures. A review into how Britain’s increasingly cashless society is affecting communities and small businesses has been commissioned by ATM network provider Link, with the...

Stott: We must be prepared for that ‘Uber’ moment

Speaking to Coinslot following his participation on a Euromat panel on alternative payments, Reflex Gaming managing director Quentin Stott outlines why the industry must be ready for finance’s ‘Uber’ moment. Britain’s gaming and amusements industry must be prepared for when the “Uber” moment of finance is reached, according to Quentin Stott, managing director of Reflex Gaming. Speaking after sitting on the...

Clacton Pier secures £4m development finance from Ellisons Solicitors

Clacton Pier
Clacton Pier has secured funding for its £4m redevelopment project with the aid of Ellisons Solicitors in plan that will include the building of a golf course, restaurant and other amusements. The significant investment includes the £500,000 Skull Point Adventure Golf Course, the £500,000 Discovery Bay Adventure Play and family restaurant, Dock- side Dodgems, the Captain’s Table Coffee Shop extensions...

Seaside towns found to suffering worst levels of debt

Coinslot Seaside Parking debt
  Alarming new figures on levels of personal debt have shown that the government still has much work to do to tackle the unique problems faced by seaside resorts.   New figures from the Insolvency Agency have revealed that young residents in seaside towns in England and Wales are suffering the worst levels of debt in the country. According to the government agency,...

GC report shows cost of regulating the industry continues to rise

Coinslot - GC report reports
The Gambling Commission’s annual report for the year 2016/17 paints a picture of hard work and gritty determination in driving its objectives through. But the price tag continues to rise, quite significantly, despite a contraction of landbased premises faced with increased regulatory requirements. Almost £21 million in, the inevitable question of value for money will undoubtedly be posed by...

Bettering the banks with custom-fit finance

Coinslot Argentum Finance
Managing director of Argentum Finance, Mike Wells, explains why, through an understanding of operators’ businesses and requirements, his company can offer financial solutions to the coin-op industry while big banks will not. Argentum Finance, a supplier of asset finance solutions is aiming to provide operators with personalised financial services in a market where banks are currently failing. Indeed, many operators across...

Total iGaming spend could reach $1trn by 2021, say analysts

Coinslot Juniper iGaming
Juniper Research, specialists in data forecasting for mobile and digital markets, projects mobile and online gaming wagers to almost double in five years.   Analysts at Juniper Research have caused a stir among industry execs this month with the publication of an extensive white paper mapping the growth of online gaming over the next half decade. While the direction of travel is unlikely to...

BACTA invest in infrastructure with head of finance appointment

Coinslot bacta robert gibb
BACTA has appointed a replacement to retiring head of finance, John Silverstone, in the form of experienced financial expert Robert Gibb, who joins the coin-op trade group from a career of developing and growing businesses. BACTA CEO John White has this week confirmed the appointment of Robert Gibb to the post of Head of Finance. Gibb, who has over 30-years financial...