White Label -- In a white-label deal, spread betting and financial services provider London Capital Group has agreed to supply Betfair with its spread betting product.
Life after Flu -- Tabcorp has said it expects turnover to drop nearly A$550 million after an outbreak of equine influenza began to wreak havoc on the Australian horse racing industry last August. "Tabcorp expects turnover will be down approximately A$550 million by the time the industry recovers from equine influenza in the new year," it said in a written statement. Chief Executive Elmer Funke Kupper added that the company's turnover was an estimated A$240 million lower compared to the previous-year period, with wagering turnover in New South Wales and Victoria down 21 percent (A$184 million) and 9 percent (A$67 million), respectively. The company said it expected the performance of its other businesses to mitigate the impact of the loss in turnover.
Moderate Removal -- Sweden's ruling moderate party has backed a proposal to unseat the country's national gambling monopoly. According to Gaming Intelligence Group, at its annual conference on Saturday, the party broke ranks with Finance Minister Anders Borg, who, historically, has promoted privatization for certain state-owned businesses though never for the gambling industry. MP Tomas Tobé reportedly told delegates that "the way forward was to abolish the current monopoly and open the Swedish market to competition through a licensing system, which would result in the sale of the state's gambling assets such as Svenska Spel and ATG."
NSW Trouble -- Australian media reports have that Betfair is set to be awarded a license to offer online betting services in New South Wales (NSW). NSW Premier Morris Iemma has reportedly intervened to make his Gaming and Racing Minister, Graham West, hold discussions with the London-based betting exchange. Racing NSW, meanwhile, has been very critical of the development, arguing that the Iemma government hadn't bothered to consult it regarding the possibility of offering Betfair a license. "Our concern is that we weren't consulted," Racing NSW Chief Executive Peter V'Landys told News.com.au. "If Betfair cannibalize the totalisator revenue we could lose tens of millions in revenue." V'Landys, according to reports, is awaiting word from the Iemma government.
A Few Bucks Short -- The Sunday Times reported Gala Coral CEO Neil Goulden has warned that unless the gambling industry "makes a voluntary £4 million donation to address problem gambling, it will likely face being hit with a statutory government levy." Earlier this year, U.K. gambling operators, including William Hill, Ladbrokes and Coral, had agreed to raise the sum for the Responsibility in Gambling Trust--so far, only £1.7 million has been collected. Goulden added that if the money wasn't raised, it "would reflect badly" on the industry while "smaller companies would end up paying more."
Stock Watch -- On the LSE, 888 was up 4.75p to 120.50, Playtech was up 21.25p to 370 and PartyGaming was up 1.25p to 32.50. In Stockholm, Unibet was up SEK 1.00 to SEK 207.00.