M&A / Business

    Betfair Italy “no longer commercially sustainable” says Flutter

    Flutter Entertainment is winding down its Betfair operations in Italy, stating the business is no longer commercially sustainable amid sweeping regulatory changes in the market. The decision will see the Betfair Exchange, Sportsbook, and Casino verticals fully discontinued in the country. Despite Betfair's exit, Flutter affirmed that it will maintain a strong overall presence in the Italian gambling market through its other assets.

    Evoke revenue drops 7% amid UK gambling tax pressures

    Evoke revenue drops 7% amid UK gambling tax pressures

    Evoke reported a 7% year-on-year decline in third-quarter revenue to £406 million ($542.67 million), impacted in part by the closure of approximately 270 retail betting shops over the past year. Following the results, the parent company of William Hill and 888 called on the UK government to refrain from introducing additional gambling tax increases in the upcoming autumn budget.