LeoVegas postpones growth targets after challenging 2018

first_img Topics: Finance Finance LeoVegas postpones growth targets after challenging 2018 Email Address Tags: Online Gambling LeoVegas saw a decrease in operating profit during 2018 as the company experienced what CEO Gustaf Hagman described as the “most challenging” year in its history AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 12th February 2019 | By contenteditor Regions: Europe Nordics Sweden Subscribe to the iGaming newsletter LeoVegas saw a decrease in operating profit during 2018 as the company experienced what CEO Gustaf Hagman (pictured) described as the “most challenging” year in its history.The operator finished the year with a 25% rise in revenue during Q4 as well as year-on-year gains in gross profit. However, a series of market and regulatory challenges over the course of the 12 months and the decision to undertake some strategically crucial projects affected its balance sheet.Coupled with concerns about its performance in the key UK market, the company has now pushed back its deadline for achieving its target of reaching €600m in revenue and €100m in EBITDA from 2020 to 2021. LeoVegas’ share price was down around 2.8% this morning (February 12).For 2018, revenue increased by 51% to €327.8m, while Q4 was up 25% to €84.5m. Moderate organic growth of 7% in the three months to the end of December was in part due to a slowdown in the UK. Organic growth excluding the UK was up 14%, with December particularly strong.The LeoVegas site was the biggest contributor to revenue, making up 77% of income in the final quarter of the year. Rocket X, the UK-facing business which was acquired as Rocket 9 in March, brought in €32.7m up to December 31, and accounted for 10% of revenue in Q4.Online casino Royal Panda, which was acquired in November 2017, made up 13% of revenue in the final three months of the year.LeoVegas was buoyed by an increase in new depositing customers during Q4, increasing by 13% over the same period a year ago and by 3% over the preceding quarter. Net gaming revenue (NGR) increased by 21% compared with the same period a year ago and increased sequentially by 5% from Q3 to Q4. The increase in NGR was slightly lower than for deposits, which LeoVegas said is explained by a lower hold and game margin than during the comparison periods.In total, classic casino made up 77% of gross gaming revenue during Q4, with live casino at 14% and sportsbook at 9%.Rising personnel costs and other expenses played a role in LeoVegas seeing a fall in operating profits from €19.9m to €19.2m for the full year, although EBITDA was up 61% to €41.6m and gross profit increased 44% to €235.5m.The operating profit figure was better for Q4, up €2.1m to €2.6m. EBITDA was up 33% to €8.1m and gross profit grew 20% to €60.0m.One area of particular concern in terms of expenditure was personnel costs, which increased by 55% from 2017 to 2018 as the operator’s headcount grew from 566 to 888.This increase was in part due to the acquisition of Rocket X, while LeoVegas also embarked on a series of technology projects, including the upgrade of its technical front-end platform, which took place during the second quarter. Furthermore, capitalised development costs doubled to €7.2m. The company plans to streamline in the coming year.“Our personnel costs in relation to revenue remained at a higher level than we are pleased with,” Hagman said. “We will thus now focus on cost control, improving efficiency in our ways of working, and increase automation in our operations.”LeoVegas also significantly increased marketing spend by 32% to €120.8m, which it felt was necessary to maintain its leading position in Sweden ahead of the market’s regulation in January. Marketing costs amounted to 37.9% during the fourth quarter, compared with 35.6% during the third quarter.LeoVegas saw cost of sales increase markedly year-on-year, rising from €39.2m in 2017 to €62.6m in 2018, while gaming duties rose from €15.1m to €29.7m.Acquisitions boosted the operator’s post-tax profit for 2018, which more than doubled to €43.2m.LeoVegas said it has made a promising start to 2019, with revenue up 16% in January to €28.7m. It said underlying customer activity remains strong, with 42% growth in depositing customers compared to the same period last year.Hagman said: “After a challenging 2018 we now see improved momentum with a record strong December and a positive start to 2019. Entering the new year we have full focus on expansion, cost control, increased profitability and to continue building the world’s best mobile casino.”last_img read more

The UK: no longer open for business

first_img The populist policymaking of the past couple of years is leading many in the gambling industry to rethink their UK strategy, says Julian Buhagiar, co-founder of RB Capital.The UK’s reputation as a civil and friendly place to do business is clearly no longer what it once was. The current raft of reactionary legislation going through parliament is set to affect several industries for many years to come – none more so than the gambling industry. While Brexit has long been an excuse as to why UK law and policymakers are in such a mess, it is unjustifiable and reductionist to blame this singular reason for the current economic malaise we are experiencing.This decade will go down as one where various conflicting external pressures have forced UK policymakers into a legislative dead-end, with both populist and lobbying measures taking over pragmatic decision-making.This has enabled knee-jerk reactions to hold sway over what should be broader, longer-term strategic thinking, and it is highly likely the country will be all the worse for it as there seems to be no change in sight.The UK gambling market exemplifies this more than many. Having recently been dealt a double whammy by the government with first the enactment of FOBT staking limits ahead of schedule, then the increase in taxation to 21%, the market also faces a period of limbo with the lack of clarity on cross-border transactions post Brexit.This is impacting short-term revenues on UK firms’ operations in the eurozone, and more pertinently, leading to the relative weakness of the pound in overseas markets.Mass exodus from the UK ahead? Add to that a clampdown on advertising, rising levels of compliance and the resources needed to manage more red tape, skyrocketing CPAs and increased competition and 188 Bet’s recent exit announcement is likely to be only the first story about a company being forced to throw in the towel.This macro-economic upheaval is also set to have a profound effect on UK-centric acquisitions. Previously thriving organisations that were able to benefit from ‘business-friendly’ lighter regulation are now rethinking their medium-term UK strategy.A mass exodus of gambling brands that no longer wish to operate under such a punitive environment is certainly not outside the realm of possibility, and as a consequence, we are likely to see a short-term flash of M&A deals over the next 18 months as companies capitalise on existing brand momentum to maximise deal values.So where will the interested parties emerge from in such an uncertain environment? Predominantly from outside British shores, and, if current predictions are correct, from the US especially. We’ve seen a significant amount of interest surface around publicly listed gaming companies that have little to no US revenue reporting.The reason for this is that a significant proportion of FTSE-based companies state their earnings in US dollars, so when sterling depreciates for the reasons outlined above, companies increase in (apparent) dollar value due to the currency’s increasing strength – making the balance sheet look far more attractive than it should.While the specific asset of interest would vary, we are seeing a significant number of post product and post revenue gaming providers with their own remote gaming servers already in advanced discussions with several key US players.Investors’ wishlist An IP-based acquisition (i.e., one where the assets in question own intellectual property such as content, licences, patented technology, etc.) is in line with what many VCs are already looking at outside of gaming circles; whereby the more product-based investments are made compared with investments in service-based verticals, the higher the value of a tech fund.This is especially the case where such gaming platforms either already (or have the potential to) offer fantasy and/or esports-based product verticals that US players are amenable to – and that will be able to immediately generate revenue as soon as they are acquired.Additionally, there is likely to be strong demand for small-to-medium private operators with existing UK (and even EU) territorial licences and largely ‘clean’ player databases. Newer VC and PE tech funds will inevitably recognise that there is an active need to invest in operations with sustainable player lifetime values across markets.Previous funds have enjoyed significant returns across player-centric verticals (such as music and fintech) where current profitability is less important than the possibility of sustainable revenue growth powered by an existing customer base.On paper, this increased desire to invest in the UK may look like a reflection of a booming economy, but it’s arguably the complete opposite. Instead, the continued punitive legislation we are seeing – especially that which is currently being directed towards the gambling industry – is one of continued negativity.With greater uncertainty comes a cheaper company valuation and a greater desire to sell, and until this current tempestuous environment of knee-jerk, populist policymaking subsides, we can expect to see far more business owners willing to exit the market while others are left to ride out the current storm.So, where will the foreign money flow to? From a venture capitalist’s perspective, that is relatively easy. Any newly regulated territories supporting thriving IP-based growth and understanding the need for light-touch regulation will be of interest to growth and technology funds.Portugal, Austria and more recently, though for different reasons, Malta have all enjoyed cautious foreign direct investment growth that is underpinned by growing tech assets with strong IP to boost longer-term valuations.In the medium term, we have yet to see the widespread rise of gambling-specific funds (not least because of the associated social stigma) but the reality is that Nordic funds have been making these investments for several years; witness the growth of Nasdaq Nordic stock for well-known public companies in gaming and affiliate marketing.However, investor interest is gradually drifting away from these territories and venturing further south towards new, less leveraged assets that promise investors higher returns on equity. Expect to see more gaming-centric funds in central and southern Europe in the next 18 months.An interesting dynamic is developing in the short term. The UK’s current legislative woes will see an increased amount of M&A in the coming months, while smarter investment capital looks further to lighter-touch regulated territories with the promise of better valued tech assets.Julian Buhagiar of RB Capital is an investor, CEO & board director to multiple ventures in gaming, fintech & media markets. He has led investments, M&As and exits to date in excess of $370m. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter 24th April 2019 | By Joanne Christie The populist policymaking of the past couple of years is leading many in the gambling industry to rethink their UK strategy, says Julian Buhagiar, co-founder of RB Capital Tags: Fantasy Sports Online Gambling Casino & games The UK: no longer open for business Regions: Europe UK & Ireland US Southern Europe Western Europe Malta Austria Portugal Topics: Casino & games Finance Sports betting DFS Email Addresslast_img read more

Headlines and deadlines: the story of the second half

first_img19th February 2020 | By Stephen Carter Tags: Card Rooms and Poker Online Gambling Video Gaming Topics: Casino & games Finance Legal & compliance Lottery Sports betting Poker Video gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The final six months of the decade saw talk of regulatory crackdowns continue, with pressure growing on operators across a number of markets and verticals. Elsewhere M&A activity rose to the fore, with a number of high-profile acquisitions announced during the period The final six months of the decade saw talk of regulatory crackdowns continue, with pressure growing on operators across a number of markets and verticals. Elsewhere M&A activity rose to the fore, with a number of high-profile acquisitions announced during the periodLooking at the five most read stories of the second half of 2019 on iGamingBusiness.com painted a contrasting picture of the online gaming industry’s health.On one hand, momentum towards regulatory action suggested a sector that was increasingly falling foul of lawmakers, and likely to face punitive new controls as a result.On the other, some mega-mergers, not to mention bet365’s latest set of stellar results, suggested a sector where investor confidence and customer spending were on the up.If the first half of the year suggested that uncertainty was the only certainty, H2 did little to dispel these notions.Having said that, issues that were initially expected to prove major hindrances to the sector’s growth, namely the reinterpretation of the Wire Act and Apple only hosting iOS apps in its App Store, both proved less damaging than predicted.What was notable about the most read stories of the second half was that these highlight some of the key challenges the industry may face in the year ahead.Yes, regulations will grow ever-tighter. And competition will become fiercer, as the industry giants grow ever-larger through M&A.5. The Stars Group and Flutter Entertainment agree mega merger The all-share deal to create an igaming behemoth with potential combined annual revenue of £3.8bn, brings together a host of high-profile brands, from Paddy Power to Betfair, to PokerStars via Sky Bet.While the scale and heritage of these businesses is significant, all eyes have been fixed on the US. The merged entity will combine one of the market leading sportsbook brands in FanDuel, with Fox Bet, a significant national challenger.It will also enjoy a flow of traffic from Fox Sports Super 6, the wildly successful sports betting app launched through The Stars Group’s joint venture with Fox Sports.In short, much of the deal’s success will hinge on ensuring this stable of high-potential assets work in harmony.Rafi Ashkenazi’s appointment as operations chief for the business suggests the right man is in place to handle such a transition, considering his experience of similar roles with Playtech and Amaya.However, the fact that so much focus has shifted to these brands – which are in their infancy compared to some in the stable – does suggest that some of the bigger names have lost their lustre.PokerStars, for example, has laid off staff in the Isle of Man and Malta amid a challenging poker market. Flutter has admitted that in trying to build a more sustainable customer base, it would experience short-term pain.When the deal was announced, Regulus Partners pointed out that Flutter (or Paddy Power Betfair) failed to achieve the top-line growth and sector leadership many had expected of it.The Stars Group, meanwhile, has yet to prove that its Sky Bet and Australian acquisitions can function as an integrated whole, Regulus said.While it is arguably the largest acquisition announced in H2, there have been plenty of other significant deals.There was the combination of SBTech and DraftKings, which not only creates a significant player both in the US and beyond, but also sees Kambi lose its biggest client.NetEnt, meanwhile, snapped up Red Tiger in a £220m deal, apparently beating a high-profile live dealer provider to the business.4. Revenue and profit continues to climb for Bet365 in 2018-19 It says a lot about bet365 that two operators often talked about as its peers only expect to generate around £800m above the Stoke-based operator’s annual revenue for its 2018-19 financial year once they merge.For the year ended 31 March, 2019, bet365 saw amounts wagered climb 22.7% to £64.49bn, with revenue growing 9.7% to £2.98bn.While it does not provide exhaustive detail on full-year performance, it noted that there had been significant investment in developing proprietary content, as well as launching new native apps.Furthermore, it invested significantly in player protection controls, such as funding research into problem gambling and experimenting with machine learning to better identify at-risk players.And all this took place against the backdrop of the 2018 Fifa World Cup, at a time when the operator was spending heavily on marketing.Then there’s the loss-making football club, Stoke City, to be factored in. Yet it still saw net profit grow 16.0% to £681.7m.Of course, this kicked off the now-annual feeding frenzy over co-chief executive Denise Coates’ pay – £277m basic, which climbed to £323m with dividends.This media condemnation of the country’s highest-profile female executive for being very, very, very good at her job has become almost as big an event as the publication of the results themselves for some newspapers.However it’s a hard business to criticise, as it doesn’t respond to condemnation, and rarely says enough for opponents to latch onto.Perhaps one of the most enduring criticisms has been that it has failed to speak out as the voice of the industry. Though this is something that many operators and executives have arguably been guilty of in the past decade.The 2018-19 report does outline, in greater depth than ever before, just how the operator is looking to protect its players from harm.Coates noted that the business already shares internal research across the industry, but will look to collaborate more to make gambling safer.If it can provide more extensive information on developments in player protection, perhaps with some new data or research, next year’s salary pile-on might even lack its usual enthusiasm.3. DCMS committee urges UK Government to regulate loot boxes Loot boxes are an increasingly controversial feature of video games. They have already  been banned in the Netherlands and Belgium.Players have even argued that the need to spend money and collect ‘blind boxed’ virtual items is ruining their enjoyment of console titles.A Digital, Culture, Media and Sport (DMCS) committee within the UK parliament even called for loot boxes to be regulated under the 2005 Gambling Act.The Gaming Regulators’ European Forum (GREF) completed a year-long study into console game features that mimic gambling mechanisms, ultimately opting against making recommendations as to whether these constituted a form of gambling.However, this was largely due to national definitions of what constitutes gambling, rather than because there was little evidence of harm or potential problems.As calls from bodies such as the DCMS committee to the Children’s Commissioner call for a ban, it looks likely that loot boxes are firmly in regulators’ sights.New controls were pledged in the Conservative Party’s election manifesto, and provided Brexit doesn’t prove too much of a distraction, few expect anything less.It might be convenient to suggest loot boxes will be the video games industry’s fixed odds betting terminal (FOBT) equivalent, but that’s most likely too convenient.However, it does close off a recurring revenue stream that the console sector had increasingly relied upon in recent years. Could this have a knock-on effect for titles popular in esports, making the publishers less wary of links with gambling?As a side note, when it comes to public affairs, the console sector is not necessarily any more savvy than real-money gaming.During the DCMS committee’s hearings, one executive described loot boxes as the same as Kinder Eggs – a chocolate with a toy inside. One that’s banned in the US due to the potential hazard to children.2. Camelot withdraws £10 scratchcards from retailers The first thing that jumps out about the news that Camelot was pulling its £10 scratchcards from circulation is that the social responsibility concerns that have dogged the private sector are down expanding into lottery.Defenders of private operators have long contended that lotteries, by targeting a younger consumer and offering high frequency products such as scratchcards online and in shops, have an increasing role to play in tackling gambling harms.It admitted that the £10 cards had been found to over-index among problem gamblers, saying: “We believed this was the right thing to do to help protect the very small minority of players concerned (less than 1% of all National Lottery players).”All very admirable. But it is arguably being done with one eye on the future; the tender process to select the UK’s next National Lottery licensee takes place this year, and the competitors are lining up to take on Camelot.Northern & Shell, operator of the Health Lottery (a long-term thorn in Camelot’s side) is preparing its bid, as is Sazka Group, as well as Richard Branson’s Virgin Group. La Française des Jeux is also rumoured to be gearing up to compete.Camelot remains a fearsome competitor. It has paid out more than £73bn in winnings over the past 25 years, and more than £40bn to charitable causes.It was seen as having botched a revamp of the core Lotto draw by reducing the odds of winning in 2018, but the first half of its 2019-20 fiscal year showed signs of improvement.For the six months to 28 September 2019, digital sales surpassed the £1bn mark for the first time.Competitors will be keen to show they can make more money for good causes, and expand the lottery’s online presence.Equally, considering the current climate, the tender managers may be wary about claims of driving revenue growth, and the effect this may have on players.By discontinuing £10 scratchcards, Camelot has at least shown that it is willing to take decisive action to protect players. How much of a benefit this will be remains to be seen.1. SportPesa hits out at Kenyan regulator amid tax dispute Clashes between Kenyan authorities and operators had been building since 2017, but came to a head in 2019, leaving the future of betting in one of Africa’s largest regulated markets in question.When Kenya’s Betting Control and Licensing Board (BCLB) argued that the country’s 20% tax on winnings applies to both profit and to the bettor’s original stake it set off a series of events that would eventually lead to Sportpesa and Betin leaving the market.Talks to arrange the operator’s return appeared promising, until the country’s parliament passed a new excise tax on gambling, making it clear this time it applied to stakes.There was promise again for Kenyan gambling operators when the country’s High Court ruled that stakes were safe from the winnings tax and that it was players, not operators, who owed the government any unpaid fees.But with the excise tax still in place, the environment was still far from comfortable for operators. Although Sportpesa said the ruling would cause it to reconsider a return to the market, Kenyan players enter the new decade without a clear path for its return.Rather than the improvement hoped for following the High Court ruling, things look worse for gambling operators in the 2020s.In November, President Uhuru Kenyatta and opposition leader Raila Odinga released the Building Bridges Report, a list of constitutional recommendations following a national forum.Included was a call to replace the private betting sector with a government-run lottery.The changes proposed could either be instituted by referendum or by parliament.Given the leading political forces’ opposition to the industry, the latter may mean an almost certain end to the private betting sector, but the industry’s future is far from safe in a referendum either.But even if it manages to avoid a complete abolition by constitutional amendment, the hostile tax environment may have done enough to leave the betting industry in Kenya functionally dead, as a once-promising market slips away amid regulatory overreach.Photo by brotiN biswaS from Pexelscenter_img Casino & games Headlines and deadlines: the story of the second half Subscribe to the iGaming newsletter Email Addresslast_img read more

Inspired’s virtuals make F2P debut with FendOff Sports

first_img Free-to-play variants of Inspired Entertainment’s virtual sports titles will be made available to US customers through FendOff Sports, a new social casino platform operated by the developers behind Chumba Casino.The partnership sees Inspired launch V-Play Plug & Play, a complete end-to-end online and mobile sportsbook, for FendOff Sports, the supplier’s first social gaming deal.FendOff, which will be available to players in 49 US states, now offers 14 channels of virtual sports, including basketball, American football, horse racing, football and motor racing.“We are very excited to launch with FendOff Sports, as we believe the Social Gaming space in the US offers great opportunities for virtual sports,” said Brooks Pierce, president and chief operating officer of Inspired.“People love to predict the outcomes of sporting events, so we expect virtual sports to be very popular with our player base,” VGW founder Laurence Escalante said.“The superior graphics, frequency of events and breadth of playing options make Inspired’s virtuals a great way to keep our social gaming players engaged all day every day.”Read the full story on iGB North America.Image: Inspired Entertainment Subscribe to the iGaming newsletter Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Regions: UScenter_img Free-to-play variants of Inspired Entertainment’s virtual sports titles will be made available to US customers through FendOff Sports, a new social casino platform operated by the developers behind Chumba Casino. Topics: Casino & games Social gaming 21st July 2020 | By contenteditor Inspired’s virtuals make F2P debut with FendOff Sportslast_img read more

Zeal sees net profit rocket 359.4% despite revenue decline in 2020

first_img Subscribe to the iGaming newsletter “We have delivered on our promises and already fully realised the planned cost synergies in the fourth quarter 2020,” Zeal chief financial officer Jonas Mattsson said. Full-year revenue amounted to €87.0m, down 23.4% from €113.5m in 2019, due to what Zeal said were “expected dis-synergies” related to major changes within its business and operating model. “In spite of Covid-19, 2020 was a successful year for Zeal Group in every way,” Zeal’s chief executive Helmut Becker said. “This was due to exceptionally good jackpot development, billings rose strongly and with the highest marketing investments in our company history we gained 918,000 new registered customers. German online lotteries provider Zeal Network has reported a 359.4% year-on-year increase in net profit for its 2020 financial year, despite having experienced a sharp drop in revenue following its move away from lottery betting. Zeal sees net profit rocket 359.4% despite revenue decline in 2020 Regions: Germany AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Another key highlight for Zeal was that it was able to increase the customer base in its core German market by an additional 918,000 players in 2020, despite the impact of the novel coronavirus (Covid-19) pandemic. Looking ahead to 2021, Zeal said it now expects to achieve at least €700.0m in total billings, with revenue forecast to surpass €95.0m and adjusted EBTIDA at least €20.0m. Topics: Finance Lottery Full year results 2020 Results 2020 Lottery brokerage “At the same time we have grown our business and launched new products. We are delighted that all this is also reflected in our share price performance.”center_img This left Zeal with €12.7m in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), down 56.8% on the previous year. However, when taking into account €4.6m in non-recurring profit, this left €17.3m in EBITDA, only slightly down on €17.9m in 2019. Turning attention to spending for the year, personnel expenses were reduced by 4.8% to €21.9m, while other operating costs were down 18.4% to €56.3, despite a record marketing spend of €32.2m. Zeal received €37,000 in tax benefits, whereas in 2019 it had to pay €6.6m in tax. As such, this meant it ended the year with €7.9m in net profit, some way ahead of €1.7m in the previous year. Amortisation and depreciation expenses totalled €12.0m, resulting in €5.4m in earnings before interest and tax, down 40.7% year-on-year, but when including €2.7m in financial income, this pushed pre-tax profit up to €7.9m, compared to €8.3m in 2019. Tags: Zeal Full year results 2020 Consolidation of Lotto24 meant that lottery brokerage revenue was up 169.4% to €78.4m, but the sale of the lottery betting division meant Zeal lost all revenue from secondary lottery betting and instant win games, with this having amounted to €79.3m in 2019. Other revenue also jumped 68.6% to €8.6m. Zeal also noted that billings – the amount wagered by customers – increased by 39.9% year-on-year to €652.8m, in line with initial forecasts published in January. 25th March 2021 | By Robert Fletcher “At the same time, we implemented the targeted cost synergies in the course of the Lotto24 takeover in full in the fourth quarter of 2020, launched a successful new product – the charity lottery ‘freiheit+’ – provided €246m for good causes and thrilled 83 customers with wins of €100,000 or more.” Zeal discontinued its existing lottery betting business in October 2019, while it also completed the full consolidation of Lotto24, the online lottery brokerage business it acquired in May 2019.last_img read more

CEAT-BCCI extend deal for Strategic Time Out Partner of IPL

first_img WI vs SA 2nd Test Day 3 Live: Rain stops play; South Africa in huge trouble, SA 66/6 (24.3 ov)- Follow Live Updates Previous articleDelhi Daredevils valued at ₹1,100 crore for stake sales to JSWNext articleStar Sports launches Vivo IPL 2018 official anthem Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Cricket Cricket WTC Final IND vs NZ: Virat Kohli displays his dancing skills on the beats of Bharat Army’s Dhol; Watch video WTC Final LIVE: Jamieson says, ‘nice and pleasing to get Virat Kohli’s wicket’; Gill feels India could have got more wickets CricketIndian premier leagueLatest Sports NewsSports BusinessNewsSport Facebook Twitter WTC Final Day 3 Stumps: India remove Conway and Latham but Kiwis on top; NZ 101/2 (49 ovs) trail by 116 runs PSL 2021 Qualifier 1 ISL vs MUL LIVE: best way to watch Islamabad United vs Multan Sultans Live Streaming in your country, India, Follow… by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeSuresh Raina issues statement after arrest, says the incident in Mumbai was ‘unintentional’UndoWrestler Murder Case: Sushil Kumar spotted hitting victim with sticks in exclusive video; WatchUndoIPL 2020 : Srikanth and fans slams MS Dhoni, says ‘wasted 15 Cr on Jadhav & Chawla’UndoCEAT was first appointed the Official Strategic Time Out Partner of the IPL in 2015.Speaking on the development, IPL Chairman Rajeev Shukla said “We are delighted to have CEAT back as the Official Strategic Time Out Partner of the VIVO IPL. They have always been big supporters of the IPL and having them continue as partners for the next five years is a great testament to the Strategic Time Out Property and the League in general.”Speaking on the development Ceat Limited Managing Director Anant Goenka said, “Taking our journey forward with the BCCI, we are glad to announce our five-year sponsorship deal for VIVO IPL’s Strategic Time Out. This is an ideal platform for us to strengthen our brand prominence and visibility across the globe. The IPL has seen a meteoric rise in viewership and brand value in the past decade, and we are confident that the next five years will be equally momentous for VIVO IPL and CEAT alike.”The VIVO IPL 2018 is scheduled to start on 7th April, 2018.The BCCI, earlier on Monday, has also announced PayTM as official Umpire Partners for the next five years. Cricket CEAT-BCCI extend deal for Strategic Time Out Partner of IPL RELATED ARTICLESMORE FROM AUTHOR BCCI Apex Council Meet: BCCI to bid for 3 major global events in next tournament cycle starting from 2024; Check By Kunal Dhyani – March 12, 2018 Share on Facebook Tweet on Twitter Cricket Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore Cricket PSL 2021 Eliminator 1 PES vs KAR LIVE: best way to watch Peshawar Zalmi vs Karachi Kings Live Streaming in your country, India, Follow Live update Cricket Latest Sports News Cricket WTC Final LIVE: Devon Conway continues red-hot form, slams fifty to provide New Zealand dream start Football The Board of Control for Cricket in India on Monday has announced it will continue its association with CEAT as the Official Strategic Time Out Partner of the VIVO Indian Premier League.The understanding has been extended for the next five years, BCCI has stated in a Press release. TAGSBCCICEATIndian Premier LeagueIPL 2018IPL Strategic Timeout Partner SHARE Euro 2020- Switzerland beat Turkey 3-1: Shaqiri’s brace keep Switzerland hopes alive; Turkey face exit from Euros Cricket YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo! JustPerfact USA|SponsoredSponsoredUndolast_img read more

BCCI decline permission for political ads during IPL 2019

first_img Cricket CricketBCCIIndian premier leagueLatest Sports NewsSports BusinessNewsSport PSL 2021 Playoffs: Schedule, Timing, LIVE streaming, list of champions; all you need to know F1 French GP 2021 Live: Max Verstappen vs Lewis Hamilton today at 6:30 pm — Follow Live Updates by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likecio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comUndoE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! OnlineUndoGrammarlyAdvertisement Avoid Grammatical Errors with This Helpful Browser ExtensionGrammarlyUndoStar India has requested the BCCI to waive off Clause 8.6 (B) in the Media Rights Agreement to pave the way for political and religious advertisements broadcast during live and recorded IPL matches.The issue was discussed at a meeting on Monday. The BCCI declined to change its policy. The board will not allow any political-religious advertisement during a bilateral, international or domestic tournament held under its banner, national daily Indian Express has reported.Hoardings of political parties were seen during an ODI in Hyderabad when N Srinivasan was the BCCI chief. However, the board has stayed away from such practices since then. The Lok Sabha elections are set to be held across India in the months of April and May. The broadcasters wanted to cash in on the event, but the BCCI is in no mood to mix cricket and politics this summer.Also Read: BCCI offers $22 m tax waiver issue solution to ICC; agrees to work with…PCB confirm $1.6 mn compensation payment to BCCIIPL 2019: Star Sports launches official TVC #GameBanayegaNameIPL 2019 build-up: Star Sports launches cricket docuseries ‘Dream On’’Former Star Sports CEO Kukreja to head Murdoch’s India investment office Virat Kohli completes 10 years in Test Cricket: 10 things you should know about India skipper- check out Cricket LIVE Cricket Score IND vs NZ WTC Final: India VS New Zealand Live score, ball by ball coverage, Virat Kohli starts Day 3: Follow… Facebook Twitter YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndoDefinitionWhat ‘Harry Potter’ Characters Were Actually Supposed To Look LikeDefinition|SponsoredSponsoredUndo WTC Final Live: Virat Kohli continues century drought as Kyle Jamieson wins IPL team rivalry WTC Final Live: Kyle Jamieson continues fine Test form, rattles India’s middle-order with venomous swing WTC Final Day 3 LIVE Score: R Ashwin, R Jadeja start recovery work; IND 190/6; follow Live Updates WTC Final LIVE: Shubman Gill declares, ‘Total above 300 will be really competitive score for us’ Share on Facebook Tweet on Twitter By Kunal Dhyani – March 19, 2019 This Day That Year: Australia thrashed Pakistan to lift their 2nd World Cup title IPL 2021: As IPL viewership drops, IPL advertisers want discounts from Star Sports network Star Sports will not be allowed to play political advertisements during the Indian Premier League broadcast. The Board of Control for Cricket in India (BCCI) has declined to grant Star India permission to run political advertisements during the IPL, which coincides with the Lok Sabha polls.The IPL 2019 is scheduled between March 23 and May 19 this year. Polling for General Elections is scheduled between the first fortnights of April and May. Cricket Previous articleIPL Opening : Military bands to perform before CSK-RCB openerNext articleResult of all International games to be counted for World Rankings : FIH Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. TAGSBCCIBoard of Control for Cricket in IndiaIndian Premier LeagueIPLIPL 2019IPL 2019 AdvertisingIPL 2019 ScheduleStar Sports SHARE Cricket Cricket Football RELATED ARTICLESMORE FROM AUTHOR Formula 1 Cricket BCCI decline permission for political ads during IPL 2019 Cricket Cricket Euro 2020: Belgium suffer another blow, after Castagne now Thorgan Hazard ruled out last_img read more

Prakash Jha to produce Sushil Kumar biopic; acquires rights

first_img WI vs SA 2nd Test Day 3 Live: South Africa lose early wickets; SA 50/3 (16.4 ov)- Follow Live Updates Cricket F1 French GP 2021: Max Verstappen pips Lewis Hamilton to win French GP, Perez finishes 3rd Share on Facebook Tweet on Twitter YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsored Tokyo Olympics: Deepika Kumari to be sole entry to Tokyo Games as Indian women’s recurve team fails to qualify Latest Sports News WTC Final LIVE: Devon Conway continues red-hot form, slams fifty to provide New Zealand dream start PSL 2021 Playoffs: Schedule, Timing, LIVE streaming, list of champions; all you need to know RELATED ARTICLESMORE FROM AUTHOR Cricket Olympic medallist wrestler Sushil Kumar’s life and achievements will soon by portrayed on silver screen.Noted film-maker Prakash Jha will reportedly be producing the Sushil Kumar biopic. Jha, renowned for his political and socio-political films, has reportedly acquired the rights to produce a movie on the ace wrestler. Football Previous articleZomato Premier League: Predict the winner and win back cash on orderNext articleRahane sacked as Royals captain in middle of IPL, Smith given leadership charge Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Formula 1 Facebook Twitter Latest Sports News Euro 2020- Switzerland beat Turkey 3-1: Shaqiri’s brace keep Switzerland hopes alive; Turkey face exit from Euros WTC Final IND vs NZ: Virat Kohli displays his dancing skills on the beats of Bharat Army’s Dhol; Watch video by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Like24/7 SportsIt’s Amazing To See How These NBA Stars Have Changed Since College24/7 SportsCapital One ShoppingThis hack can uncover JOANN discounts you don’t know aboutCapital One ShoppingE! OnlineCNN’s Christiane Amanpour Undergoes Surgery After Cancer DiagnosisE! OnlineThe pre-p started pre-production stage work is reportedly underway. It is not clear though whether the film cast has been finalised or who will play Sushil Kumar in the film.Sushil’s life and journey has been filled with immense success, struggle and controversies. All the three ingredients make a perfect recipe for a thriller and will feature prominently in the film.The 2010 World Champion for his weight category, Sushil is the only Indian to win two Olympic medals in an individual sports discipline. The Delhi-based wrestlers had bagged a bronze medal in the 2008 Beijing Olympic Games, before upgrading the metal to the Silver four years later in London.Sushil may reportedly contest the Lok Sabha elections from the South Delhi constituency on a Congress ticket.Sushil endorses brands like Mountain De, Eicher Tractors, and the National Egg Coordination Committee which earns him ₹ 1 crore per annum. He had refused a ₹50 lakh offer to appear in a surrogate ad for a leading liquor brand.Also Read: WFI Central Contracts: Special consideration for Sushil, Sakshi Prakash Jha to produce Sushil Kumar biopic; acquires rights Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your country TAGSOlympic GamesOlympic medallistSushil KumarSushil Kumar biopicWrestling World Championship SHARE By Kunal Dhyani – April 20, 2019 Cricket Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore Football Cricket BCCI to form committee to take call on compensating domestic cricketers Cricket Latest Sports NewsSportSports BusinessNewsSportstarsWrestlinglast_img read more