eGaming Review January 2014 - Page 16

[F I N A N C E NEWS ] POC IMPLEMENTATION TO BE PUT BACK RGA letter explains PoC regulation is unlikely to come in until June new regulatory framework set to transform the UK gambling market is unlikely to come into force until June, the Remote Gambling Association (RGA) has advised. The RGA notified its members the Gambling Commission’s preferred timetable leading to a 1 April start date will be delayed by at least one month and possibly two as the Gambling (Licensing and Advertising) Bill makes its way through parliament. The second reading of the Bill in the House of Lords was set for 17 December but given the Christmas recess, the Bill could not complete its passage through the upper house before the New Year. With the potential of amendments to the Bill during the House of Lords stages, further delays are possible and the RGA states Royal Assent of the Bill is now The unlikely to occur before March 2014. “April is off the cards now so unless there is some completely unforeseen additional delay we’d expect the revised ‘go live’ date be in May or June with a three-month licensing window preceding it,” Clive Hawkswood, RGA chief executive, told eGaming Review. “I don’t think they have to stick to the first of the month, but realistically we’re probably looking at June for the new regime - if it gives everyone another month or two’s breathing space then so much the better and it’s certainly no cause for concern,” he added. Hawkswood also said the RGA decided to alert its members to the delay in order to manage expectations and so people could “relax a bit more over Christmas” rather than worry about readying licence applications for January.   GVC MAKES STRONG START TO FOURTH QUARTER Listed sportsbook and casino operator announces Q4 growth while noting competitors’ recent sportsbook troubles GVC Holdings appears to have bucked the recent trend of operators bemoaning “punter–friendly” runs of sporting results after issuing a strong Q4 trading update. Although the company reported sports margin had decreased quarter-onquarter from 9.4% in Q3 to 8.2% during the first two months of Q4, average wagers per day soared by 23% from €3.3m to €4m across the same period. And despite the reduction in sports margin, average daily net gaming revenue for the first two months of Q4 rose by 4% from €516k in Q3 to €536k. GVC, which returned the loss-making non-Australian business of Sportingbet it 14 acquired in March to profit in September, said current performance reinforced the success of the Sportingbet integration. It added it expected the Group’s fullyear results to be at the upper end of analysts’ current expectations, with a further update expected on 9 January. In releasing the update, the AIM-listed company said it had noted “the recent announcements made by a number of its peers in the sports betting industry on the matter of recent unfavourable sports results”. GVC was referring to operators such as William Hill and G