BET365 BIGGEST TAX PAYER

Bet365 Family UK’s Largest Tax Payer

Bet365 owners the Coates family and the boss of the online gambling firm Denise Coates, paid £481.7 million in taxes last year to the UK exchequer according from the latest Sunday Times Tax List.

That makes the Coates family the highest tax payer in the country for the third year in a row. However it is not the largest tax bill they have paid, back in 2020 the family had a tax bill of £573 million which so far is the largest ever tax payment to the UK as an individual or family business.

The tax payment by the owners of Bet365 dwarfs the second place payer Chris Rokos a hedge fund manager who wrote a cheque covering his tax bill of £300 million, in total the top 50 tax payers in the UK pay £3.7 billion which is up from the previous year at £3.2 billion. JKO Play the Eddie Jordan company that was interested in making a bid for industry software provider Playtech has announced they no longer will continue with making any offer for the company.

Playtech had delayed the general meeting to vote on the Australian machine manufacturers Aristocrat offer of £2.7 billion when JKO wanted to consider an improved offer. The delay was pushed back from January 12 to February 2 as JKO did due diligence, however with a deadline of January 26th looming for JKO to confirm an offer would be forthcoming it has now been announced that JKO will not be doing so.

Playtech senior management had already agreed the offer from Aristocrat and passed it to shareholder vote but then JKO appeared as a potential higher offer, the reason why JKO did not go through is not clear, rumours that the company could not generate the required funds to make an offer are abound.

However now with Aristocrat being alone now for Playtech the vote will take place by shareholders on the offer, however it is still not clear if shareholders will vote in favour.

JKO leave Playtech Deal To Aristocrat

Super Group & SEAC Announce Merger

Blank-check firm, SEAC, have finally delivered on a protracted deal for sports wagering firm, Super Group. The merger was confirmed after shareholders voted in favour of the acquisition, which pre-empted a tangible bump in share price.

Super Group, whose Betway brand is well-known in several global regions but relatively anonymous in the U.S, will look to expand its North American market share. Negotiations commenced last April, with SEAC expected to acquire the operator before the end of Q4 in a transaction reportedly worth $4.75b. Although Super Group have high hopes moving forward, SPAC activity has been subject to recent investor reluctance.

Across the full gaming landscape, sports betting firms who entered markets via SPAC mergers were some of the worst performing enterprises of 2021. With concerns over profitability and total reachable audience cited as key reasons for their challenging results. Marketplace trends suggest blank-check acquisitions are on the decline. Fertitta Entertainment recently cut ties on a huge investment collaboration with SPAC group Fast Acquisition, and Wynn Resorts decided against the opportunity to move their Wynn Interactive Unit into the public domain. believe that the deal may flourish. As referenced, Betway have a strong presence in numerous markets, and also have decent brand exposure through their sponsoring of Premiership side, West Ham United. Super Group’s own acquisition of Digital Gaming Corporation also offers significant advantages, with the operator now able to target punters in ten U.S states.

Super Group believe they’re ‘scale and leading technology permits them ‘fast and effective entry into new markets’ The jury’s still out, but Betway could potentially make substantial headway in the U.S market.

Playtech Considers Selling Off Assets If Aristocrat Deal Fails

Playtech has signalled its intention to take drastic action if a proposed takeover bid is internally blocked by a small group of shareholders.

A $2.7B acquisition move by Aussie betting machine giant Aristocrat is currently under review. However, the merger is under threat from a rogue cartel of Asian-based shareholders, who threaten to offset an upcoming shareholder vote.

Ifa 75% majority required to push through the deal is not attained, Playtech’s directors could well execute a considerable dismantling of its component parts. Led by current Chairman Brian Mattingley, and supported by the company’s banking advisors, Playtech’s senior leadership team have earmarked several of its assets for sale.

Their Italian online venture with Snaitech would be disposed of to the highest bidder, and the software operator may sell its high-performing B2B division also.

Playtech have not been shy in recent weeks in giving their corporate stance on the potential Aristocrat takeover. A spokeswoman for the firm stated, ‘the board reiterates its recommendations that shareholders vote in favour of the offer from Aristocrat’ and that the deal presents ‘an attractive opportunity for shareholders to accelerate the delivery of Playtech’s longer-term value’

This latest controversy transpires amidst the recent withdrawn takeover bid from former F1 mogul, Eddie Jordan. This too was seemingly dropped due to concerns about the long-term plans of the aforementioned shareholder group.

The all-important vote takes place early in February.

YouGov Survey Shows Opposition To “Affordability Checks”

The YouGov survey for the Betting and Gaming Council revealed that just 16 per cent of those who enjoy a bet would submit themselves to so-called “affordability checks”, which are under consideration as part of the Government’s Gambling Review.

By contrast, some 58 per cent said they would not be willing to allow regulated betting and gaming firms to carry out the arbitrary blanket checks, which have been called for by anti-gambling campaigners.

The same poll also found that 59 per cent of punters believe that Government-imposed checks on whether customers can afford to place a bet would lead to a large or substantial risk of customers using unlicensed sites in the unsafe black market online instead.

These are thousands of illegal gambling websites that don’t adhere to the strict standards in the licensed and regulated sector. This includes targeting problem gamblers, not carrying out strict ID and age verification checks or offering the range of safer gambling tools provided by BGC members, like deposit limits and cooling off periods.

In addition, the poll found that more than half – 51 per cent – of all adults believe that increased black market use will lead to a rise in problem gambling, compared to just 4 per cent who think it would bring down the problem gambling rate.

The findings were revealed as ministers continue the ongoing Gambling Review, with a white paper due in the spring.

Regulated operators already intervene where customers are displaying signs of problem gambling or that they may be at risk.

The BGC is in favour of further enhanced spending checks, but believes the focus should be on problem gamblers or those at risk rather than everyone who bets.

According to a report last year by PwC, the number of people using black market sites – which have none of the safer gambling measures found in the regulated sector – has doubled to around 460,000, with billions of pounds being staked.

Michael Dugher, chief executive of the BGC, said that the YouGov polling was a “wake up call” for ministers as they prepare to publish the gambling white paper.

He urged the Government to ensure they strike the right balance between protecting the vulnerable while not driving the overwhelming majority who bet safely and responsibly towards the unsafe black market online.

Mr Dugher said: “We strongly support the Gambling Review as a once in a generation opportunity to raise standards and promote safer gambling.