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Vicki Scott, the DIA’s director of gambling, said the investigation had delivered significant results, while stressing that work to improve compliance and ensure communities received their share of gambling proceeds would continue.
“Most operators have worked constructively with us to address historical issues and improve their practices,” Scott said.
“While we’ve made substantial progress, our work is not finished. We’ll continue working with operators to recover funding for communities, improve compliance and maintain public confidence in the integrity of class 4 gambling.”
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Cirsa shareholders will receive 0.668 newly issued Lottomatica shares for each of their shares in Cirsa.
Meanwhile Blackstone, Cirsa’s largest shareholder, is expected to become the largest shareholder of the combined company, maintaining around 24% of the share capital.
The deal is expected to provide around €115 million of pre-tax cash synergies per year from opex and interest cost savings. These synergies are expected to be realised by the third full year following completion.
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It also said Spectrum was able to “specifically corroborate” Black Cube’s claims that Evolution’s games were accessible and generating revenue in several “prohibited locations”. These included Hong Kong, Singapore, the United Arab Emirates and Saudi Arabia.
Evolution has for several years denied any involvement in illegal activity. In a statement to iGB in November, the company said its defamation litigation aimed to hold Playtech and Black Cube “accountable for its wrongdoing” and to protect shareholder value.
The report also revealed that Evolution had ignored virtual currency risks, as they had accepted wagers in said currency without triggering the enhanced due diligence normally expected in such cases.
