Rental income boosts Assura

first_img whatsapp Share More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp ASSURA Group’s first-quarter revenue rose 17 per cent, helped by higher-than-expected increases in rental income, and the British healthcare firm said trading momentum had continued into the second quarter.The UK’s biggest private owner of pharmacy services said quarterly revenue was ahead of budget in both wholly owned and joint venture pharmacies.Assura said 13 reviews conducted in its property portfolio showed a five per cent rise in average annualised rents to £122,000. Shares of the company closed at 46.75p. Tags: NULL Wednesday 18 August 2010 7:50 pm Rental income boosts Assura Show Comments ▼ KCS-content last_img read more

US authorities will announce string of insider dealing cases

first_img Share KCS-content Monday 22 November 2010 6:10 am Show Comments ▼ Tags: NULL US authorities will announce string of insider dealing cases Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Federal authorities are closing in on a series of high profile targets as part of a drive to purge insider trading from Wall Street.They are understood to be on the verge of announcing cases against hedge fund traders, consultants and Wall Street bankers within weeks, according to lawyers working on the cases.Prosecutors and securities regulators are likely to file a number of cases targeting the $1.7 trillion hedge fund industry rather than a single spectacular case, said the lawyers.They are likely to reveal suspicions of multiple, highly organised insider trading rings suspected of reaping tens of millions of dollars for their members over a period of years.The probe is said to include up to three dozen companies.The new round of prosecutions could start before Christmas, lawyers said, adding that they could rival last year’s arrest of Galleon Group hedge fund manager Raj Rajaratnam and nearly two-dozen others in one of the largest insider trading cases ever brought.Authorities are still deciding whether to pursue cases against several individuals who were implicated but never charged in the Galleon case and another case involving a former UBS investment banker. whatsapp whatsapplast_img read more

Luminar seals new £99m finance deal from banks to keep business moving

first_imgThursday 9 December 2010 7:13 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald Show Comments ▼ KCS-content whatsapp Sharecenter_img whatsapp NIGHTCLUB business Luminar yesterday confirmed a £99m injection from banks.The owner of the Oceana and Liquid club brands has signed a three-year loan deal with Lloyds, Barclays and Royal Bank of Scotland.The money should give it some breathing space to pay down debts and see if the new strategy from chief executive Simon Douglas is working.Douglas is moving to modernise the clubs by linking up with the Ministry of Sound to improve music and Jongleurs to put on comedy gigs.Luminar, which has debts of £89m, will be charged interest of 7.8 per cent on the loans and will pay £8m in fees to exit other finance deals.Paul Hickman at Peel Hunt said: “This appears to be the banking agreement Luminar needed. It gives management scope to carry out the debt reduction the company needs.”Luminar’s sales were falling by 17 per cent when it last reported in September.The company has been hit by youth unemployment and increased competition from late opening bars. The new facility comprises two term loans of £44m and £40m repayable over three years and a revolving credit facility of £15m. Finance director Philip Bowcock said: “We are pleased to have the continued support of our banks.”The shares ended flat yesterday at 14.75p. 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap Luminar seals new £99m finance deal from banks to keep business moving Tags: NULLlast_img read more

China-Spain deals to be worth $7.3bn during visit

first_imgWednesday 5 January 2011 8:27 pm whatsapp whatsapp China-Spain deals to be worth $7.3bn during visit DEALS signed between Chinese and Spanish companies during the visit of Chinese vice premier Li Keqiang to Spain are expected to total $7.3bn (£4.7bn) by the time Li leaves today.The deals are said to cover 16 sectors, including telecoms, banking, energy, transport and agriculture.In one agreement, Spanish bank Banco Bilbao Vizcaya Argentaria announced that it will cooperate with China Development Bank during dealings in Latin America.There is also good news for Spanish exports, with China expected to sign up to import $29m’s worth of foodstuffs such as meat, olive oil and wine from the country.Li wrote in a Spanish newspaper earlier this week that China would also continue to be a long-term investor in Spain’s sovereign debt, prompting bond yields to fall. 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack 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 Proof Show Comments ▼ Share Tags: NULLlast_img read more

Nokia jumps on Goldman note

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Monday 28 March 2011 7:36 pm whatsapp Shares in embattled telecoms giant Nokia rose yesterday after Goldman Sachs upgraded its investment rating on its shares to “buy” from “neutral”. Goldman Sachs said Nokia’s shares offered long-term opportunity for value after falling around 30 per cent from early February when the firm decided to dump its Symbian software platform in favour of Microsoft’s Windows Phone 7. It is understood Microsoft paid Nokia $1bn (£600m) to develop handsets to run the platform. KCS-content More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPuffer fish snaps a selfie with lucky divernypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com center_img Share whatsapp Show Comments ▼ Nokia jumps on Goldman note Tags: NULLlast_img read more

Spotlight on famous five of the Commission

first_img whatsapp whatsapp 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Spotlight on famous five of the Commission The spotlight will today be on the “famous five” members of the Independent Commission on Banking (ICB) as it presents its 200-page interim report.Two of the commission’s five members come from a banking background, which banks might hope will make them sympathetic to the difficult of running a major lender in current regulatory conditions.Bill Winters was co-chief executive of JP Morgan Investment bank until last year. He had worked at the bank since 1983, moving from New York to London in 1992.Martin Taylor is chairman of Syngenta and was chief executive of Barclays from 1994 to 1998. The other three members come to the task from outside the industry, however. Sir John Vickers is an Oxford economics professor, leaving the university for two years in 1998 to serve on the monetary policy committee and then the Office of Fair Trading.Clare Spottiswoode is known as a warrior for consumer rights, having been director general of Ofgas and acted for policyholders in negotiations with Aviva.Martin Wolf is chief economics commentator of the FT and has worked at the World Bank. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoLoan Insurance WealthCatherine Bell’s New Girlfriend Might Look Familiar To YouLoan Insurance WealthUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndo Sunday 10 April 2011 11:35 pmcenter_img KCS-content Share Show Comments ▼ Tags: NULLlast_img read more

ANALYST VIEWS: CAN WH SMITH CONTINUE TO HIT TARGETS WITH CUTS?

first_img whatsapp ANALYST VIEWS: CAN WH SMITH CONTINUE TO HIT TARGETS WITH CUTS? Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndoBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search AdsUndo More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com KCS-content NEIL SAUNDERS | VERDICTIt’s the familiar story of an increase in profits on the back of a decline in overall sales, brought about by cost reductions and margin enhancements. The danger is that as cost savings become more difficult to extract, the business will have a weaker consumer proposition and will continue to see sales slide; ultimately this could damage profitability. We are not yet at that point, but on current form this looks to be the inevitable direction that the firm is heading in.KEITH BOWMAN | HARGREAVES LANSDOWNThe group’s reputation for consistent if somewhat unexciting growth has again been enhanced. An early adoption of the now increasingly fashionable trend to concentrate on profit margins at the expense of sales has served the company well. Furthermore, despite understandably cautious comments with regards to the outlook, management is still attempting to push the boundaries. In all, WH Smith continues to be rewarded with a positive (‘buy’) market consensus.NICK BUBB | ARDENThe figures for the first-half numbers are in line, as always, and there is not too much in the statement to get excited about. But the 18 per cent rise in the interim dividend is a useful reminder that WH Smith continues to grind out massive surplus cash flow (for dividend growth and earnings per share enhancing share buybacks) and a five per cent yield is very attractive. There is overseas growth across the board with store openings in hospitals and stations as well as in India. center_img whatsapp Tags: NULL Show Comments ▼ Thursday 14 April 2011 8:16 pm Sharelast_img read more

Funds of hedge funds shrinking

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe Show Comments ▼ Tags: NULL Share Monday 18 April 2011 7:37 pm KCS-content center_img whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Funds of hedge funds shrinking whatsapp The average fund of hedge funds shrank in the last three months, according to figures from alternative assets researcher Preqin. The mean fund of hedge funds has $2.18bn (£1.34bn) in assets under management – down more than 20 per cent since 2010 and compounding an average 24 per cent loss between 2008 and 2009. Preqin estimates that the industry now has $910bn of assets under management, down from $1.25 trillion in 2008 before the financial crisis hit, though it expects growth during the next financial year, it says. last_img read more

Annuity lotteries: will they take off in Europe?

first_img Over the last five years Camelot has done little to ingratiate itself with lottery players. First it doubled the price of National Lottery draws to £2 in 2013, then it slashed the odds of winning by increasing the number of balls back in 2015.Throw in the increase in the price of EuroMillions tickets in 2016 and increased competition from more innovative operators such as the Health Lottery and Lottoland, and it’s hardly surprising the incumbent operator has experienced a steady slump in sales.The 2017/2018 financial year saw something a turnaround, which even Camelot wasn’t expecting if comments made by its CEO Nigel Railton are to be believed. It had already taken some action to reverse the decline in sales following its strategic review last year and earlier this month it announced some further tinkering around the edges of the main games.More interestingly, however, it also announced the planned launch of an annuity game next spring. Though it hasn’t divulged much detail on the proposed product, it says the top prize is likely to be “thousands of pounds every month for at least 25 years”. Although Camelot says the game is an “entirely new proposition” to its portfolio, it acknowledges it isn’t a new concept.“We’ve been closely examining what is done in other countries where this type of game is hugely popular – particular in the US and Australia,” says James McGrath, communications manager at Camelot. “These types of games appeal to people who dream of lifelong financial security. This is why we believe it will round off our portfolio perfectly, enabling winners to benefit from a regular, fixed amount of money over a set number of years.”Playing catch-up While the forthcoming game may be the first in the UK from an official lottery, both Lottoland and Zeal Network’s MyLotto24 already offer punters the chance to bet on US annuity lottery Cash4Life, with a top prize of £1,000 per day for the rest of the winner’s life. “This is not innovation from Camelot, it is them playing catch-up,” comments Nigel Birrell, CEO of Lottoland.The question is, could an annuity lottery allow Camelot to catch up when it comes to where it wants its sales to be? Indications from the secondary lottery providers are promising.Lottoland was the first secondary lottery operator to offer bets on Cash4Life in the UK, launching its product back in April 2016. Of its performance so far, Birrell says: “Cash4Life is one of our consistently steadily performing jackpot offerings, not as popular as our leading products but definitely a core part of our overall product portfolio.”MyLotto24 began offering bets on the lottery in the middle of last year. Blerina Essen, managing director of MyLotto24, says it is also happy with its performance so far. “It is a very good product, it is growing very much organically — we are already in multimillions in revenue and we are increasing double digits in month-on-month growth.”Interestingly, she says most of the customers betting on Cash4Life with MyLotto24 are using subscription products, suggesting it may attract a more loyal following than lump sum jackpot draws, which many only play when the prize has reached a certain level.Millennial magnet? There’s also a possibility annuity lotteries could help attract more of the much-coveted millennials. “Those at the younger end of the spectrum see the value in winning £1,000 per day for life,” says Birrell. “If you take a 25-year-old and take the average life expectancy of 80 years, they would win over £20m over their lifetime.“Not surprisingly those in the age brackets 18-23 and 24-30 over-index against the average lottery demographic and our silver surfers under-index here.”Indeed, when a Canadian woman won a lottery draw she entered to mark her 18th birthday in March this year, she made international headlines after being given the choice of a $1m lump sum payout or $1,000 per week for the rest of her life – many North American lotteries offer the choice of a lump sum or an annuity. She chose the weekly sum after taking advice from a financial adviser. Financial security is a big attraction for players of all ages, says Essen. “It doesn’t change your lifestyle as much as a big jackpot, but you have that cash comfort, that is why people like it.“When you win 100m or something like that, you could blow it away as some people don’t manage money that well. Therefore people prefer to have this comfort that they can still have their own lifestyle, but maybe have a different job or have their own company.”Birrell adds that Cash4Life also has better odds than many other games. “As Cash4Life has a format of match five from 60 and then for the CashBall one from four, the odds to win the jackpot are very attractive at one in 22m – that’s more than twice as good as UK Lotto at one in 45m and substantially lower than the pan European giants — one in 139m of the EuroMillions or one in 95m on the EuroJackpot.”Many a cynical commentator has also noted that annuity winners are able to largely avoid the demands for money that lump sum winners tend to attract from long-forgotten friends and family.It seems then that for a variety of reasons, annuity lotteries do appeal to a certain group of players. But whether or not Camelot’s offering will be a success remains to be seen.If it is, a likely side effect will be an uptick in sales for secondary lotteries. Although they will not be able to offer bets on Camelot’s product, the increased awareness of the annuity concept among UK and European players — an annuity lottery has also recently been launched in Germany — will probably see more players wanting to place bets on products such as Cash4Life.“Definitely we will get quite a lot of sales from it,” says Essen. “The products that are pushed through external advertising perform much better than other products that are not as known in certain countries.”She highlights Australia, for example, as one of the areas where Cash4Life has been particularly popular with MyLotto24 players, which she puts down to annuity lotteries being offered by official lotteries in Australia.Another bonus for the secondary lotteries is insurance savings – neither Lottoland nor MyLotto24 insure bets on the products, presumably because the winnings are easily able to be paid from their profits in the relatively unlikely event of a winner, although it’s worth mentioning that MyLotto24 had a second prize winner — who receives £1,000 per month — on Cash4Life in the first week it offered the product.As well as alienating players with its game changes in recent years, Camelot has also cultivated a rather hostile relationship with secondary lottery operators. Ironically, in this latest attempt to appease the former it may well be the case it ends up providing a boost for the latter.Related articles: Camelot pledges higher prize payouts on National Lottery Camelot reveals record UK National Lottery digital sales Selling the dream: lottery providers cash in on jackpots Are experiences the key to getting millennials to play lottery? AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Joanne Christie explores the impact Camelot’s planned annuity lottery and the impact that paying out in instalments, rather than a lump sum, could have on the wider market 17th September 2018 | By Hannah Gannage-Stewart Lottery Annuity lotteries: will they take off in Europe?center_img Topics: Lottery Regions: Europe Subscribe to the iGaming newsletter Email Addresslast_img read more

FDJ privatisation to dominate gambling proceedings in France

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address 2nd January 2019 | By contenteditor The French igaming sector has finally found an equilibrium of sorts after eight years of regulation. While the sports betting vertical has justifiably taken much of the plaudits for its strong growth over that period, measures implemented by the regulator and relevant stakeholders have also had beneficial effects on online poker and pari-mutuel horse racing, the other two regulated verticals in France.French regulator L’Autorité de régulation des jeux en ligne’s (ARJEL) most recent figures for the third quarter confirmed these trends. Online sports betting continued to grow, with gross revenue up 40% to €149m during the period. Pari-mutuel horse racing revenue was up 6% to €63m, while long-term trends for online poker were reversed with a 3% rise in to €59m, with cash games stakes up 13% to €1bn and tournament entry fees up by 7% to €528m. The vertical benefitted from the pooling of liquidity with Spain and Portugal, which launched early in 2018.           But as with any evolving market, there are a number of underlying trends and issues the industry wants to see resolved so it can develop on a more secure footing.For France, these are the privatisation of the state lottery monopoly Française des Jeux (FDJ), which in turn prompts further debate around the state’s role as a stakeholder in FDJ. The privatisation could have further-reaching effects on the industry, leading to an expanded remit for iGaming regulator ARJEL, and could see a case made for a reform of the current online gaming tax rate, as well as regulation of the online casino vertical.The FDJ privatisation is the dominant gambling theme in France currently, and this is likely to continue for the foreseeable future. It will also determine the environment in which the online operators will work because the three other themes mentioned above in some capacity will flow from the project.   FDJ’s privatisation has been in the offing for some time and has had a number of false starts, but is likely to go ahead this time as the government puts in place the legislative tools to make it happen.The country’s National Assembly adopted the privatisation bill during a first reading in October, with the authorities confirming that the state would maintain a 20-25% stake in the privatised entity. This engagement on the part of the French state in a newly-privatised FDJ, whether it happens via a float on the stock exchange or opening it up to investment groups, raises a number of issues for French online gaming operators such as ZETurf, NetBet and Betclic Everest Group.Emmanuel de Rohan Chabot, founder of ZETurf and chief executive of French igaming trade body the Association Française du Jeu en Ligne (AFJEL), told iGaming Business: “The project raises a number of key issues for our members. Among them are the fact that the state will be a gambling stakeholder in a majority private gambling operator. It also acts as a regulator and collects the taxes that we generate.“There are a number of conflicting interests that worry us with regard to its mode of operation and how it could decide on regulatory matters.”Also in October, France’s National Audit Office (Cour de comptes) and MPs recommended that regulation of the entire gambling sector be brought under the control of one regulator; the idea being that igaming regulator ARJEL’s remit would be expanded.The government has agreed to a new regulator, but rejected relinquishing the Home Office’s oversight of land-based casinos, citing the risks of money laundering linked with the sector. FDJ, meanwhile, is not enthused by the prospect of no longer being regulated by the Treasury, fearing it would dilute its influence over any regulatory changes. Which is why for AFJEL and its members, it is imperative that regulation be brought under one authority.The other key AFJEL demand is that regulation applies equally to them as it does to FDJ; in particular games that are branded as lottery should be renamed as scratchcard or instant win products, which many believe is a more accurate description of the games.As for the long hoped-for taxation change to a gross profits-based system and potential regulation of the online casino vertical, these are not going to happen in 2019, ARJEL president Charles Coppolani told iGaming Business.   This is mainly because of the ongoing FDJ privatisation project, but also because after eight years of regulated activity operators have adapted to their working environment, although their key demands remain.And with societal upheavals such as the recent protests by the so-called gilets jaunes, the French government has other priorities that it needs to address urgently.All these topics will be debated when France’s parliament resumes in 2019. Meanwhile private operators, regulators and politicians will continue to try to steer a course that enables the sector to grow, while keeping the country’s historic stakeholders happy and maintaining a level of tax revenues that the state is satisfied with.          But for all the regular complaints to come out of France with regard to how its igaming sector is treated by the authorities, the reality is that it remains a market with substantial growth potential.All these factors will be analysed in further depth in the forthcoming iGB France e-zine due to be published in February. Subscribe to the iGaming newsletter French market growth and calls for tax rate changes will be overshadowed by speculation over FDJ privatisation in 2019, writes Jake Pollard FDJ privatisation to dominate gambling proceedings in France Legal & compliance Topics: Legal & compliancelast_img read more