Casino News Roundup: Betfred Loss, 32Red Fine, Aspire Global

Betfred operating loss online casinos

It was a busy week in the world of online casino news as we saw one big-name brand report a loss, another one take a loss and a third one launch a new gaming outlet. Here’s a recap of the biggest headlines of the week:

Betfred Reports Annual Operating Loss, Revenue Rise

One of the most renowned bookmakers in the United Kingdom reported a surprising number this past week. Betfred showed a retail revenue win of 634.5 million pounds in the 12 months ending on September 24, 2017. However, the company still ran an operating loss of 13.4 million pounds, which is quite surprising. To contrast, it had reported a profit of 32.4 million pounds in the same time frame the previous year.

It comes at an interesting time for the company as the government is potentially getting more involved in its business. Betfred announced last month that it could be forced to close nearly 900 betting shops and cut staff by about 4,500 jobs if the government does proceed as it has threatened and cut off the maximum stake on fixed-odds betting terminals. The government plans to trim that maximum bet from 100 pounds to just two but has stated that the change won’t happen until 2020.

Nonetheless, Betfred founder Fred Done doesn’t seem too worried with the news. He took an annual dividend of 10.2 million pounds, which is the exact same amount he pulled last year.

32Red Fined 2 Million Pounds For Failing Problem Gambler

Online casino 32Red had an opportunity to prevent a problem before it got out of control and didn’t. As a result, it is going to pay a hefty price.

The online casino company, which operates in the United Kingdom, had more than 20 opportunities to cut off or help a problem gambler. Instead, it offered the customer VIP status and free bonuses, which in turn kept him playing. The player deposited 758,000 pounds over two years but frequently spoke to the staff. He talked about chasing his losses and lamented the fact that he spent too much time playing. The Gambling Commission got wind of this, investigated and has fined the company two million pounds as a result. The regulator found that 32Red could have stopped the problem before it got out of hand and also didn’t check with the customer to determine if he was spending beyond his means, which is also required.

Overall, 32Red basically let him go and only checked his account when he won a seven-figure sum. Needless to say, the company is likely to change its ways after the big fine.

Aspire Global Launches Online Casino In Denmark

Aspire Global has partnered up with Aller Media Denmark to launch a brand new online casino for the Danish market. The website will offer a wide range of casino games as well as some puzzle-type games like Sudoku and crosswords.

Aspire previously had a gaming license in Denmark and recently extended it until 2023.