John Lewis sees £111m profit but warns over headwinds

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailDefinitionHistorians Doubt These 21 Famous People Ever ExistedDefinitionHalf EddieRemember Her? Take a Deep Breath Before Seeing How She Looks Like NowHalf Eddiebestfamilymag.comZlatan Ibrahimovic’s wife is probably the most beautiful woman on Earthbestfamilymag.comStyleReads.comAfter Rescuing Them, Firemen Realized They Weren’t PuppiesStyleReads.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic Mirror whatsapp Show Comments ▼ John Dunne whatsappcenter_img John Lewis said trading conditions would likely get tougher as tax hikes and public spending cuts hit shoppers, as it reported a 28 per cent rise in first-half profit.The group said its strong first-half performance gave it confidence that both its department stores grocery chain Waitrose would cope well.“Despite the economic headwinds, and tougher comparables in the second half, we remain confident that both Waitrose and John Lewis will continue to grow ahead of the market,” chairman Charlie Mayfield said.John Lewis, which runs 28 department stores, two “at home” shops and 231 Waitrose supermarkes, made a pre-tax profit of £111m in the six months to 31 July.Sales rose 12.4 per cent to £3.8bn, and were up 9.9 per cent in the first six weeks of its second half. Thursday 16 September 2010 2:58 am Share John Lewis sees £111m profit but warns over headwinds Tags: NULLlast_img read more

Unilateral rule making will harm City

first_imgMonday 20 September 2010 8:56 pm Share whatsapp Unilateral rule making will harm City KCS-content PERCHED at a regulatory crossroads, the government is on the verge of decisions that will shape the UK economy’s competitiveness for generations to come. That much was clear from the opening day of the City Week financial services forum yesterday, where financial services doyens united in a call to policymakers to think long and hard about the consequences of their actions in altering the course of industry regulation.At the heart of the matter is the clear need for a unified approach across Europe and the rest of the world, without which the City’s most senior bankers warned that Britain faces the prospect of lagging behind its future rivals.“G20 governments have quite rightly promised to find a common approach to financial regulation, but on the ground we are seeing an increasing divergence in the approaches to rule-setting and implementation,” said Colin Grassie, chief executive of Deutsche Bank in the UK.“If no global consensus on regulation can be found, the UK’s position, as well as Europe’s position, will indirectly be defined by regulation in the US and ‘non-regulation’ in Asia. This will not be good for the US, but at least its market is more US-centric. It will be very bad for the UK, whose domestic financial services industry rubs shoulders with the truly international market for wholesale services.”Of paramount importance is the UK’s stance on compensation and tax – both of which, according to Grassie, need to be handled with a sure hand by David Cameron’s government. While our one-off bonus tax was a unilateral move which went beyond G20 principles and “moved us away from a level playing field”, Grassie said, the new proposals for a financial activities tax could also have the effect of a “bonus tax in disguise”. Add to that the 50 per cent top band of personal income tax (Singapore and Hong Kong’s is just 15 per cent) and next year’s introduction of a bank levy in the UK, France and Germany, and the UK’s financial services industry faces the very real danger of being taxed out of the top tier.“The UK is home to a core set of leading and world-class industries,” added Lloyds Banking Group chairman Sir Win Bischoff, “but there are voices calling for a rebalancing of the economy by scaling down one of our key industries – namely, finance… Policymakers should be wary of confusing retribution with reform.”London Stock Exchange chief executive Xavier Rolet added that the argument swings both ways, with the onus now on countries with less strict regimes to ensure their regulatory standards are up to scratch.“All countries are now interconnected globally,” Rolet said. “For any country to see an opportunity to lift some business from the US or the UK on the basis of a looser regulatory policy would spell disaster.” center_img Show Comments ▼ whatsapp Tags: NULLlast_img read more

CITY SUPER WOMAN BEATS THE BIG BOYS

first_imgWednesday 3 November 2010 10:05 pm whatsapp Share Tags: NULL CITY SUPER WOMAN BEATS THE BIG BOYS KCS-content CITY SUPER WOMAN BEATS THE BIG BOYSTHIS past year hasn’t exactly been a walk in the park for corporate financiers, with company IPOs dropping like flies – particularly in the first half of the year – as nervous investors quaked in their boots.But in that kind of climate, of course, the best really do stand out – and many company advisers would do well to take a leaf out of the book of Nicola Marrin at Seymour Pierce, who last night received the corporate financier of the year award from the ICAEW at a ceremony at the Mansion House.Marrin, the first female winner of the award, follows in the footsteps of distinguished previous winners such as Terry Smith in 2004, then chief executive of Collins Stewart, and Merrill Lynch’s head of UK M&A in 2007, Kevin Smith.Marrin’s big break came this year when she led the team on SuperGroup’s £395m flotation in March, on which Seymour Pierce acted as sole sponsor, financial adviser and bookrunner – and she has a few words of wisdom for company executives who reckon they need a roster of bank advisers as long as their arms to get an IPO away successfully.“Quite apart from the strength of SuperGroup’s management, it really helped that there was only one corporate finance adviser – on bigger transactions, there’s often lots of jostling for position,” Marrin tells me. “On bigger deals you’re going to need more than one adviser, clearly, but this goes to show you don’t need a cast of thousands to make it a success.”Are you listening, Ocado?DING DONGActor Leslie Phillips has had his fair share of decent roles over the years, starring in a number of the Carry On films, as well as recent parts in the likes of The Jackal, Lara Croft: Tomb Raider, The Changeling and Hanif Kureshi’s 2007 film Venus, for which he was nominated for a BAFTA for best supporting actor.However, The Capitalist learns he’s soon to add a rather different title to his collection – that of the Freedom of the City of London, which he is due to receive at the Guildhall later this month. Of course, fellow Carry On star Barbara Windsor also received the Freedom earlier this year, placing Phillips in good company. Ding dong!STRUCK OFFCity law firm DLA Piper held a breakfast debate yesterday on the thorny topic of employee relations, with panel members ranging from the CBI’s Jim Bligh and Labour MP Paul Farrelly to DLA Piper’s David Bradley and the CIPD’s employee relations adviser Mike Emmott.During a heated discussion chaired by City A.M.’s own deputy editor David Hellier, Farrelly (pictured above) insisted trade union laws didn’t need tightening to improve the chances of a strikeless future and warned that tinkering with the law could inflame relations. Bligh, on the other hand, argued there should be no less than 11 changes to the UK’s legal framework, such as raising the threshold for industrial action to take into account the voting turnout, and allowing both unions and employers to send concise statements out with ballot papers to set out the scope, nature and reason for the dispute.Fittingly, though all the panel members managed to get to the venue through the transport chaos, yesterday’s impeccably-timed Tube strike meant almost half the expected attendees were unable to find their way there in time… Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDirect HealthyKate Silverton’s PartnerDirect Healthythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comlast_img read more

St Ives says sales starting to improve

first_imgTuesday 30 November 2010 8:09 pm whatsapp Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content NICHOLAS BURGESS | ROYAL BANK OF SCOTLANDAberdeen’s full-year result has beaten consensus forecasts, yet remains at a 15 per cent discount to the broader sector. Reporting pre-tax profit of £210m took the firm eight per cent ahead of consensus of £195m. The outperformance looks evenly spread between performance fees and management fees.JAMES HAMILTON | NUMISHaving been buyers for a long time, we recently moved to ‘hold’ and maintain our ‘hold’ rating as we now feel the shares are fairly valued taking into account the still weak sector versus asset under management flows. Weak organic flows are being driven by weak fixed income offsetting better flows.MANOJ LADWA | ETX CAPITALAberdeen is looking more like the heavyweight champion of the industry as it reported solid full-year numbers. Effective management has seen an increase in profit, dividends and assets despite tough economic conditions. This is one fund manager that’s likely to continue punching above its weight. St Ives says sales starting to improve Share whatsapp Tags: NULLlast_img read more

US jobs data leads FTSE to a strong close

first_img Share More From Our Partners Fort Bragg soldier accused of killing another servicewoman over exthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comWhy people are finding dryer sheets in their mailboxesnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com THE FTSE continued its strong start to 2011 as a late afternoon rally enabled it to stick at levels not seen since 2008.The FTSE 100 closed 29.99 points or 0.5 per cent higher to close at 6,043.86, still ahead of the important 6,000 mark and far above levels seen in the recession.Impressive US jobs data provided additional momentum in the afternoon. The ADP Employer Service report revealed that 297,000 jobs were added last month, compared with the forecasted 100,000. The numbers boosted sentiment ahead of official Department of Labour statistics published on Friday.“Many are now hoping Friday’s employment data can back this up and deliver the momentum the markets sorely need to push on,” said David Jones, chief market strategist at IG Index. US chipmakers and tech firms also performed well, boosted by the imminent opening of the Consumer Electronics show in Las Vegas tomorrow. ARM (up 7.65 per cent to 471.4p) and CSR (up 7.82 per cent to 377.7p) respectively headed the lists of FTSE 100 and FTSE 250 risers. Barclays and HSBC provided support for a second day, while Tullow Oil and Cairn Energy also boosted the index. Mobile operator Vodafone gained 3.2 per cent after it bought back 13.2 million of its shares for an average price of 169.9p per share.Womenswear retailer Next rose 4.37 per cent to 103.0p after announcing that it remains on track, despite losing about £22m in Christmas sales thanks to the snow.“The fall was in line with market expectations and mostly shareholders have cheered the news as they had feared that the severe pre-Christmas weather conditions may have resulted in a more dire sales drive,” said Joshua Raymond, a market strategist at City Index.But analysts are still focusing on weaker retailers and HMV fell 20 per cent to 26p after warning it may miss bank covenants after further poor sales in December. Mining stocks also weighed on the index, said Jones. “Miners dragged the FTSE lower as they bore the brunt of investor profit-taking following disappointing data in Europe, with sector heavyweights Antofagasta (-2.22 per cent), Anglo American (-1.72 per cent) and Kazakhmys (-1.52 per cent) all down,” he said.Overall, the FTSE outperformed other European indices, though. “The DAX and CAC both traded around 0.8 per cent lower, weighed by the fall in commodities and miners,” said Raymond.In New York, stocks rallied on the positive jobs data as well as further good news about factory outputs and from the Institute for Supply Management’s non-manufacturing index.US stocks traded at about a two-year high, with financials, housing stocks and airlines performing strongly, countered by utilities stocks such as American Electric and Duke Energy, which suffered after being downgraded by analysts.The Nasdaq Composite Index gained 20.95 points, or 0.78 per cent, to close at 2,702.2; the S&P 500 rose 6.37 points, or 0.5 per cent, to close at 1,276.57; and the Dow Jones industrial average advanced 31.87 points, or 0.27 per cent, to close at 11,723.05. alison.lock US jobs data leads FTSE to a strong close whatsapp Tags: NULL whatsapp Wednesday 5 January 2011 4:09 pm Show Comments ▼last_img read more

Game bullish for full-year despite fresh competition

first_img Game bullish for full-year despite fresh competition COMPUTER games retailer Game Group posted 2.1 per cent lower like-for-like sales over Christmas and said annual profit would be within analysts expectations despite increasing competition from downloads.The company has been hit by an absence of new console launches in 2010, increased competition from supermarkets and changing gaming habits, with people increasingly playing mobile and social media games instead of buying pre-packaged titles.Game, which trades from more than 1,300 stores in Britain, Europe and Australia, said its pre-tax profit for the year to the end of January would be between £37m and £39m. It said it expected trading to remain challenging in 2011, but it had hopes that the launch of Nintendo’s new handheld 3DS and an exciting line-up of new games would boost the market. Shares closed 15.7 per cent higher at 172p yesterday as the market expected weaker figures. whatsapp Tags: NULL whatsapp Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap KCS-content Thursday 13 January 2011 8:00 pm Show Comments ▼ Sharelast_img read more

WHAT HAPPENS AFTER MUBARAK?

first_imgMonday 31 January 2011 8:17 pm WHAT HAPPENS AFTER MUBARAK? More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comConnecticut man dies after crashing Harley into live bearnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Show Comments ▼ KCS-content Tags: NULL whatsapp whatsapp Share Q&AQ.Is overthrowing Mubarak a good thing?A.While the democratic leadership called for by international leaders including David Cameron and Barack Obama seems likely, the overthrowing of Mubarak is not that simple. As history has proved, an orderly transition is often difficult to achieve and the next Egyptian government could view the West with animosity – a real issue given its position as a major oil transporter.Q.Who are the opposition parties and what do they think of the west?A.The main opposition party is called the Muslim Brotherhood. It has long opposed Mubarak and, despite its militant beginnings in the 1920s, is a staunch advocate of peaceful, democratic protest. However, the Brotherhood’s succession of Mubarak is not necessarily in the best interests of the West. Its foreign policy is likely to be antagonistic, especially with the US, which is unpopular among young Egyptians.Q.Does anybody else have a chance of succeeding mubarak?A.The next government is far from decided, but the dice are heavily loaded in the Brotherhood’s favour. Mubarak tolerated the group because of its religious affiliations while stamping out more radical groups, meaning there is little other organised opposition. However, the group has often co-operated with other fringe groups, such as those fronted by Nobel peace prize winner Mohamed ElBaradei (below).Q.Who is Mohamed ElBaradei and what role might he play?A.He is a former director general of the International Atomic Energy Agency (IAEA), an inter-governmental organisation under the auspices of the United Nations. He was given the Nobel peace prize for helping ensure nuclear power is not used for military purposes. He is highly respected and could help form a government of national unity along with the Brotherhood. It is likely he would be a moderate influence in terms of foreign policy. last_img read more

Moody’s cuts ratings on Danish banks

first_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULL Wednesday 16 February 2011 8:31 pm whatsapp KCS-content center_img MOODY’S cut the long-term ratings of five Danish banks, saying yesterday that the government had become less willing to bail out depositors and creditors in the event of a bankruptcy.The move came after small bank Amagerbanken earlier this month became the tenth lender to fall into state hands in the wake of the global financial crisis. “We now maintain negative outlooks on all Danish banks’ standalone bank financial strength ratings, and will evaluate these additional pressures as they unfold over the coming months,” Moody’s said.The rating agency said the state’s takeover of Amagerbanken showed the government’s willingness and ability to impose losses on depositors and senior creditors in a bankruptcy.Moody’s said a state aid package for banks — “Bank Package III” — in October provided a framework for allocating ailing banks’ losses to senior debt and deposits instead of only to core equity, hybrid capital and subordinated debt.“Combined with its implementation with respect to Amagerbanken in February 2011, this law implies that the Danish government is now far less willing to continue to support bank creditors at the expense of taxpayers than it was only a few months ago,” Moody’s said.The ratings agency also said that Danish banks’ funding will now be more vulnerable to investor and depositor transfers. Moody’s cuts ratings on Danish banks Show Comments ▼ whatsapp More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comlast_img read more

IGT extends PlayDigital PlayShot QuickBet tech to New Jersey

first_img International Game Technology (IGT) has extended the reach of its PlayDigital PlayShot QuickBet kiosks into New Jersey by installing a series of units at the FanDuel Sportsbook at New Meadowlands Racetrack. Tags: Race Track and Racino IGT extends PlayDigital PlayShot QuickBet tech to New Jersey Regions: US New Jersey International Game Technology (IGT) has extended the reach of its PlayDigital PlayShot QuickBet kiosk technology into New Jersey via a partnership with the FanDuel Sportsbook.FanDuel has installed 14 units at its sportsbook facility at the New Meadowlands Racetrack, with visitors now able to place a range of bets via the kiosks.  The FanDuel Sportsbook is the first venue in New Jersey to deploy IGT’s omni-channel PlayShot sports betting solution, which can be used to power mobile, over-the-counter and terminal-based wagering.“PlayShot’s flexible and fully integrable design enabled FanDuel to incorporate IGT PlayDigital’s PlayShot QuickBet kiosks into its world-class sportsbook ecosystem at The New Meadowlands Racetrack,” senior vice-president for IGT PlayDigital, Enrico Drago, said.“The self-service kiosks deliver the same high-quality user experience as the FanDuel website and mobile apps, and feature real-time pricing updates for a full range of markets to give players at the New Meadowlands Racetrack the best possible betting experience.”FanDuel is currently ranked as the leading online operator in New Jersey, having generated $7.0m (£5.3m/€6.2m) in revenue in January. However, this figure was down 23% on December’s blockbuster $9.1m figure.The launch comes after IGT also rolled out the PlayShot omni-channel platform in Nevada in November, following approval from state authorities.PlayShot was rolled out as a mobile solution in Nevada in 2017, and powers sports betting at a number of MGM-operated casinos on the Strip, including the MGM Grand, via the PlayMGM mobile app.Image: Meadowlandsracetrack Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Tech & innovation Horse racing 7th March 2019 | By contenteditor Horse racing Email Addresslast_img read more

PlayOJO cuts television adverts in Sweden

first_img Topics: Casino & games Marketing & affiliates PlayOJO cuts television adverts in Sweden Regions: Europe Nordics Sweden 10th June 2019 | By contenteditor Casino & games Online gaming operator PlayOJO has opted to halt certain television advertising activities in Sweden in an effort to reduce exposure to underage players, and is now urging rival brands to follow suit. Email Address Tags: Online Gambling SkillOnNet-operated gaming brand PlayOJO has opted to halt certain television advertising activities in Sweden in an effort to reduce exposure to underage players, and is now urging rival brands to follow suit.The operator will no longer allow its adverts to be broadcast between the hours of 4pm and 9pm, so as to avoid promoting its services to young people.PlayOJO went live in the regulated Swedish market via the SkillOnNet licence earlier this year and admits that it has advertised heavily to support the launch.SkillOnNet chief executive Costas Alexandrou encouraged other operators to follow PlayOJO’s lead to better protect minors in the market. “As a responsible, licensed platform provider in Sweden, we aim to moderate our marketing and do everything we can to limit any potential exposure to underage players,” he said. “The PlayOJO team is now working with TV broadcasters to withdraw the ads.“If other online casino operators in Sweden really do care about responsible gambling, they too should review their advertising strategies and schedules and do everything they can to limit potential exposure to those under 18 years of age.”Swedish regulator Spelinspektionen has moved quickly to crack down on what it considers to be excessive advertising by licensees since the market opened in January this year. The Swedish Gaming Market Commission (Spelmarknadsutredningen) is currently in the process of analysing ways to control advertising, that may see a blanket ban on all gambling ads enforced.PlayOJO is not the first operator to commit to reducing its advertising. In April Sweden’s former gambling monopoly Svenska Spel stopped advertising its online casino for the rest of 2019, over concerns that the vertical could lead to significant increases in problem gambling in the market. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletterlast_img read more