Rocket Hit

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Entain stressed the importance of its retail networks in providing local employment and community engagement. 

It noted the role of machine gaming revenue in sustaining shops outside of race days, which in turn supports local economic activity, including around £50 million annually devoted to British horse racing. 

Entain warned that a sharp rise in MGD could prompt customers to migrate out of the regulated market, estimating that up to £1 billion in gambling stakes could shift to the black market.

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Bally’s Corporation has announced Mira Mircheva is stepping down as the group’s executive vice president and CFO “for personal reasons”.

Mircheva’s resignation will be effective from Friday, although she will remain with the company until the end of September to “ensure a seamless leadership transition”, with the search for her replacement already under way.

George Papanier has taken on Mircheva’s role as CFO on an interim basis. Papanier will continue in his current roles as Bally’s president and a member of its board of directors.

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Unfortunately, because of that attorney-client privilege, it is difficult to know what types of ethical dilemmas Hasselback is facing. However, it’s likely just the mere hint at issues will be enough for IPI to find itself, once again, being more closely scrutinized. Where that leads is anyone’s guess, given gaming regulators’ reluctance to hold the company accountable for its actions.

IPI now has until this Friday to find a new lawyer to carry the six-case workload Hasselback had, but will most likely use this as an excuse to delay the ongoing legal battles. It won’t get very far with that, though, and perhaps Judge Kennedy expected IPI to try something. She added in her ruling that the attorney’s exit “may cause some delay, [but] that delay is not so much so that it would cause significant prejudice or adversely and materially affect the plaintiff.”

This particular lawsuit involving Fox Financial, one of a growing list IPI is battling, centers on an arrangement the company made with a third party, Forson Holdings. That entity had leased property from Fox in 2016, but fell behind. IPI had signed as a guarantor of that lease agreement and, as such, was responsible for covering Forson in the event payments weren’t made. However, it decided it didn’t need to follow the terms of the contract.