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QPR press on with ground plans

first_img Press Association The Hoops’ Loftus Road home is the smallest ground in the top flight with a capacity of just 18,439 and Fernandes intimated a new stadium would cost around £150million. The club had last summer hoped to reveal plans for a new 35,000-seater stadium in the Shepherds Bush area but they never materialised. QPR chief executive Philip Beard has previously spoken of his plans for the new stadium to be “part of a hub of a wider entertainment destination”. While the Hoops look all but certain to be relegated from the Barclays Premier League, plans for off-field development appear to continue apace. Ever since Fernandes completed his takeover in 2011, the club have been keen to bring facilities up to top-flight standard and last summer he confirmed QPR were looking at three potential sites for a new home. An update on that search looks imminent after Fernandes took to Twitter to explain a widely-reported £15million loan taken by the club, saying via his account, @tonyfernandes: “Loan for qpr is for new stadium. Next 2 weeks will be hopefully good news. But work is starting. We will not say anymore on stadium.” center_img QPR chairman Tony Fernandes hopes to have some “good news” about the west Londoners’ hunt for a new stadium in the next two weeks.last_img read more

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Betsson AB reduces 2017 dividend program in order to support corporate strategy

first_img Submit StumbleUpon GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 Share Pontus LindwallIssuing a market update, the governance of Stockholm Nasdaq-listed Betsson AB has informed that the company has changed its investor dividend policy ‘in order to increase the company’s financial capabilities’ in order to be active in the consolidated European online gambling sector.The new dividend scheme will be applicable as of this year and will see Betsson governance reduce its shareholder dividend rewards on net corporate earnings from 75% to 50%. The company stated that it needed a dividend payout that supported its corporate growth strategy.“The Board reasons that Betsson should have a dividend policy that is relevant to its growth profile. The advantages of size are increasing, not least following the introduction of local regulation of the gaming market. The new dividend policy gives Betsson increased capabilities to make acquisitions, which the Board believes will add long-term value to shareholders,” stated Pontus Lindwall, Chairman of the Board, Betsson AB on the firm’s Nasdaq update.Betsson’s dividend reduction comes following last week’s announcement that the company had completed its £26 million acquisition of London AIM-listed interactive gaming operator NetPlay TV.Updating corporate stakeholders, Betsson detailed that the firm would significantly increase its presence in the saturated UK betting market adding Jackpot247, Supercasino and Vernons to its European gaming multi-brand portfolio. Kambi and DraftKings agree on final closure terms July 24, 2020 Related Articles Esports Entertainment bolsters tournament capacity by acquiring EGL August 27, 2020 Sharelast_img read more

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Pontus Lindwall – ‘No Cost Saving Plan’ for Betsson’s 2018 recovery

first_imgShare GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 Share Presenting Betsson AB’s Q4 2017 quarterly update, Group Chief Executive Pontus Lindwall is upbeat with regards to his firm’s 2018 outlook, despite recent setbacks.Lindwall the former Betsson AB Group Chairman, who last September retook leadership of the Stockholm-listed enterprise, following the departure of Ulrik Bengtsson as CEO, outlines the group’s ‘restructuring plan’.Closing a turbulent 2017, in which Betsson has faced increased operational costs and higher betting duties, combined with the impacts of tougher market regulations and negative currency fluctuations, Lindwall and Betsson’s executive team are fully aware of 2018’s challenge.In his presentation, Lindwall hits back at the highly publicised news of Betsson’s ‘cost saving’ restructure, which has seen the company reduce its global headcount by 160 staff members.“This is not a cost-saving program. Instead, we are looking to restructure group efficiencies. This requires less corporate layers and clearer responsibilities within the organisation” states Lindwall to investors.Detailing immediate initiatives, Lindwall states that Betsson will scale back its UK facing operations for the short-term. Lindwall states that this action is not a retreat from the saturated UK betting market. Instead, Betsson will take a ‘back-to-basics’ approach to its underlining UK strategy.Moving forward, Betsson will continue to focus on its product verticals, with the multi-market operator launching new casino and sportsbook enhancements in 2018.As an industry leader, Lindwall emphasises the importance of social responsibility and customer care as more markets’ become regulated. This factor sees Lindwall look forward to Betsson’s home market of Sweden becoming a regulated online gambling market in 2019, in which Betsson will have a strategic advantage over numerous competitors.Despite presenting a glum 2017 report, Lindwall outlines that Betsson underlying corporate KPIs throughout the group’s brands remains amongst the strongest in the industry.Finally, having further strengthened its sportsbook foundations in 2017, which reported a strong Q4 2017 revenue and earnings performance, Betsson seeks to reap the rewards for Russia 2018 trading. Related Articles Submit Kindred marks fastest route to ‘normal trading’ as it delivers H1 growth July 24, 2020 Betsson outrides pandemic challenges as regulatory dramas loom July 21, 2020 StumbleUponlast_img read more

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