Eni defends balance sheet and dividend with huge capex and opex cuts

first_imgEni CEO, Claudio Descalzi, commented: “We are taking these actions in order to defend our robust balance sheet and the dividend while maintaining the highest standards of safety at work.” Last week, Eni said that, due to the recent market developments, the spread of the COVID-19 pandemic, and the recent decisions taken by OPEC+, Eni’s board of directors decided to update the commodities scenario for the years 2020 and 2021, downgrading the forecasts on the Brent price to $40-45 in 2020 and $50-55 in 2021. In both cases, activities will be restarted as soon as appropriate market conditions appear, and related production will be recovered accordingly. ‘Mainly’ Upstream cuts The board also decided to withdraw the proposal to authorize the purchase of treasury shares at the shareholder meeting of 13 May 2020, with a total amount of €400 million in 2020. Specifically, Eni will reduce capex in 2020 by around 2 billion euros, equal to 25% of the total capex planned, and opex by around 400 million euros. The projects involved are related mainly to Upstream activities, particularly production optimization and new project developments scheduled to start in the short-term.center_img In 2021, Eni expects a capex reduction of around 2.5-3 billion euros, equal to 30-35% of the capex scheduled for the same year in the business plan. With this decision, Eni has joined numerous oil and gas operators that made the same decision in the last couple of weeks, including majors like ConocoPhillips, Total, ExxonMobil, Shell, and Equinor. In an update released on Wednesday, Eni said it had concluded in advance a revision to its planned activities as a result of the sharp decrease in commodities prices and the foreseeable constraints arising from the COVID-19 pandemic. As a result of these measures and the current depressed scenario, production in 2020 is expected between 1.8 and 1.84 million barrels of oil equivalent per day, and it will remain unchanged in the following year. Italian oil and gas company Eni has decided to reduce its capex and opex for this year and the next as a result of the coronavirus pandemic and the oil price war. The reductions are mainly related to Eni’s Upstream activities. last_img read more

CJay – the Caribbean’s next R&B Sensation

first_img 34 Views   one comment Sharing is caring! Tweet Share EntertainmentLocalNews CJay – the Caribbean’s next R&B Sensation by: – February 3, 2012center_img Share Share Jermaine “C-Jay” CameronIf you’re a fan of Usher, R-Kelly or Mario then the smooth, silky lyrics of R&B Artist C-Jay the Caribbean’s next Rhythm and Blues singing sensation will certainly intrigue you.His sexy vocals float effortlessly above the music like a young Usher and have an ethereal quality that will take you on a magical journey.Jermaine “C-Jay” Cameron was born into a family that he claims has no musical talent, yet his natural voice is truly a blessing. He has matured and blossomed into a polished professional artists began his singing career at the age of twelve at his first performance in St. Marten.He says however, “Some say I got my start in church, but I started singing to little girls on the phone since I was… like 10.”According to his biography, “In 1998 C-Jay joined an all boys Gospel Group named “Blessed”.“In those days we were really a force to reckon with in St. Marten.” After getting his feet wet with the group he made a deeper commitment to becoming an Artist and began writing his own songs, which actually started as a joke but he ended up writing some really good material.He says in his biography that his favorite topic to write about is the female persuasion covering themes that speak about past relationships and anticipations of future ones “…Praying the next girl doesn’t leave me in the dust again.”His music influences are evident in his style starting with the legendary Stevie Wonder, old school guys like Sam Cooke, soulful Bryan Mc Knight, songstress India Arie and Musiq Soulchild.In 2000 he met Mr. 51/50 a local club owner and did some work with him in the studio for a while, but he never felt that people shared the same passion for music that he had. C-Jay’s talent has led him to perform on many live shows.C-Jay has competed and won many talent competitions and even took third place representing St. Marten in a Caribbean Star Singing Showdown.Click here to listen to his single:CJay Lay you downHe has also opened for International Artists Dru Hill, Percy Sledge, Hip-Hop/Rap Artists Lloyd Banks and Bow Wow, Freddie Mc Gregor, Bushman, Wayne Marshall and in Jan 2011 for Rock Band, The Apollo Effect out of Canada known for their sound tract in mega Movie,Resident EvilHe is also scheduled to tour next spring 2012 with the likes of Kerri Hilson, Drake, Lil Wayne, Nicki Minaj, Trey Songz and Chris Browne.He explains in his biography that the death of his grandfather in 2008 motivated him to take his music career seriously.“I always had music on the back burner and never took it as serious as I was supposed to. When my Granddad died in 2008 to heart disease I decided it’s time to stop wasting what God gave me and take it a little serious because life is so short and you never know when it’s your time”.When C-Jay moved back to St. Kitts for college he continued to pursue music and met many talented Artists like; Easy B, Cutie, and Producer Kelvin from SKN Entertainment formerly Equator Records.He was also a member of the popular Rap Group “Da Embassy”, but it wasn’t until he met Romeo Parris owner of Club Kactus, that he realized his dream of creating inspiring music for people would become a reality.Now he is signed to Kactus Entertainment’s Agape Records and working with Music Producer Niquan on his first album “Premonition” in St. Kitts.According to C-J; “Music is the number one source of expression which soothes the heart and soul. Many will listen, some will not, but one will be inspired, I bet”.Click here to listen to one of his singles: CJay So emptyFor bookings contact the Manager of Kactus Entertainment Romeo Parris at mobile number: 869-664-7960Dominica Vibes Newslast_img read more

Man City vs Real Madrid: Europe’s best attack tackle best defence

first_imgManchester City, like Real Madrid, are only looking ahead to the second leg of their Champions League last-16 tie on August 7 at the Etihad Stadium. Pep Guardiola’s side may have lost out on the Premier League title to Liverpool this season, but they still took advantage of the final matchday to beat Norwich 5-0 and finish the campaign as Europe’s most prolific team with 102 goals, beating Bayern Munich’s 100. Therefore, at the Etihad, Europe’s best attack in City will square up against the continent’s best defence in Real Madrid. Los Blancos secured the La Liga Santander title based on balance and solidity, starting from Thibaut Courtois and going all the way to Karim Benzema at the top of the pitch. The big difference is that City have had plenty of other players chip in with goals too: Sergio Aguero got 16, Gabriel Jesus bagged 14, while Kevin De Bruyne netted 13. Then there’s the likes of Riyad Mahrez on 11. Guardiola had 13 goalscorers in total, with the other players to score being Bernardo Silva (six), David Silva (six), Phil Foden (five), Rodri Hernandez (three), Ilkay Gundogan (two), Nicolas Otamendi (two), Kyle Walker (one) and Aymeric Laporte (one). Real Madrid actually had more players contribute in terms of goals, with 21 getting on the scoresheet. Only Eder Militao and Brahim Diaz failed to score. But the difference is that Los Blancos’ second top scorer was a defender, Sergio Ramos with 11, followed by Casemiro and Toni Kroos with four. Zidane’s forwards goals are distributed as follows: Vinicius Junior and Marco Asensio on three, Rodrygo Goes, Luka Jovic, Gareth Bale and Lucas Vazquez on two, and Eden Hazard and Mariano Diaz on one. City have not built their attack on the basis that they can shut teams out once they score, as is the case with Real Madrid. In fact, Raheem Sterling was the club’s top scorer in the Premier League with 20 goals, one less than Benzema, who finished as runner-up behind Lionel Messi in the race for the Pichichi Trophy. Promoted Content12 Stars You Would Never Recognize Without Their Signature Look10 Phones That Can Easily Fit In The Smallest PocketWhy Go Veg? 7 Reasons To Do This14 Hilarious Comics Made By Women You Need To Follow Right NowCouples Who Celebrated Their Union In A Unique, Unforgettable Way10 Gorgeous Bollywood Divas Who Earn A Lot7 Black Hole Facts That Will Change Your View Of The UniverseWho Is The Most Powerful Woman On Earth?8 Addictive And Fun Coffee Facts10 Amazing Characters We Wish Were Official Disney PrincessesWhy Do So Many Digital Assistants Have Feminine Names & Voices?7 Reasons Why You Don’t Get Your Work Done On Schedule Read Also: FA Cup Final: How Chelsea will lineup vs Arsenal after latest injuriesIsco and James Rodriguez, who could be compared to De Bruyne in terms of the position they play, scored one goal each, while Luka Modric netted three goals and Fede Valverde two.Real Madrid need to score and they need to keep City out. For the match, however, Zidane is hoping to have Hazard in tip-top condition, not to mention other forward options such as Vinicius and Asensio.FacebookTwitterWhatsAppEmail分享 Loading… Two different approaches will be on show at the Etihad, with Guardiola and Zidane using the strengths of their respective squads to mould a team that is capable of winning. The Frenchman, without Cristiano Ronaldo and with Benzema as his top scorer, understood that Real Madrid would have to play differently without the Portuguese superstar. The result is a team that scores goals, reaching 70, but more importantly keeps them out at the other end, with Los Blancos conceding 25 goals compared to City’s 35. In fact, Liverpool were able to win the title ahead of City after having scored less goals (85) and conceding just two goals less.last_img read more

Ronaldo in transfer talks with PSG

first_img Loading… The 35-year-old had his most prolific Serie A season with 31 goals, but still not enough for the Capocannoniere title. read also:Ronaldo moves just 30 goals shy of Pele’s world record 767 strikes The situation may well have changed with the news Juve have sacked Maurizio Sarri and hired Andrea Pirlo as their head coach. Ronaldo’s contract with the Bianconeri runs to June 2022, but his €30m per year salary is beginning to raise questions at a Turin side losing revenue with the early Champions League exit to Lyon. FacebookTwitterWhatsAppEmail分享 Promoted ContentBest & Worst Celebrity Endorsed Games Ever Made9 Most Disturbing Movie DystopiasCouples Who Celebrated Their Union In A Unique, Unforgettable WayInsane 3D Spraying Skills Turn In Incredible Street Art7 Of The Wealthiest Universities In The World8 Ways Drones Will Automate Our FutureBirds Enjoy Living In A Gallery Space Created For ThemA Hurricane Can Be As Powerful As 10 Atomic Bombs7 Ways To Understand Your Girlfriend BetterYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeWho Is The Most Powerful Woman On Earth?6 Ridiculous Health Myths That Are Actually Truecenter_img French media reports continue to push the idea that Cristiano Ronaldo wants to leave Juventus for a move to Paris Saint-Germain. It first emerged in France Football a few days ago, seemingly sparked from something that was said in October 2019, and is now spreading through Footmercato. The suggestion is that Ronaldo is frustrated at the lack of Champions League progress at Juve and ready to try again at a different club that has traditionally struggled in this tournament. It’s reported agent Jorge Mendes will meet with PSG director Leonardo during the Champions League Final Eight tournament in Portugal to discuss the options.Advertisementlast_img read more

Improbable, unlikely, incredible! Donavon Smith is Stock Car king

first_imgEthan Dotson, the 2019 Super Nationals Modified champion, became the first California driver to qualify for the Stock Car Big Dance.  A last-chance qualifier earlier in the day, Smith raced from 25th starting to take the lead with two laps left in the IMCA Speedway Motors Super Nationals fueled by Casey’s Stock Car main event. After a Super Nationals record 207 cars vied for the 30 starting spots, Jared Siefert led much of the way, chased by Jesse Sobbing while Jeff Mueller and Ricky Thornton Jr. duked it out over third. Kyle Vanover joined in as the top five slowly pulled away from the pack. A left rear flat took Siefert out of contention, putting Buck Schafroth at the point before the final yellow. BOONE, Iowa (Sept. 13) – Donavon Smith had the best seat in the house to watch as the improba­ble became the incredible Sunday afternoon at Boone Speedway. “I had been running fifth or sixth when I saw the 83 (Siefert) had a flat. I was in third when I told myself I had a shot,” said Smith. “I saw an opening down low with two to go and took the lead.”  Sobbing’s pass for the lead was erased by a caution. The front two made contact on the ensuing restart, with Sobbing getting the worst end of it.  Unsure when the damage to his own ride occurred – Smith’s right front fender and door were on the casualty list – he kept up the steady march toward the front, putting himself in position to take advantage of the late-race drama.  “A caution came out and I was up to 20th. Another caution came out and I was up to 15th,” said Smith, already pleased with what at that point promised to be a top 15 finish. “I passed some guys up high early. A lot of guys were pushing. Usually in those races, you knock the radiator out or you go forward.” When those two laps were complete, Smith had a career-best $5,000 payday and career third Super Nationals championship to show for his day’s work behind the wheel.  Donavon Smith made the main event field through last-chance racing, then won his career third Stock Car championship Sunday at the IMCA Speedway Motors Super Nationals fueled by Ca­sey’s. (Photo by Tom Macht, www.photofinishphotos.com) Feature results – 1. Donavon Smith, Lake City; 2. Kyle Vanover, Beatrice, Neb.; 3. Buck Schafroth, Orient; 4. Loren Pesicka Jr., Burt; 5. Abe Huls, Carthage, Ill.; 6. Justin Nehring, Storm Lake;7. Mathew West, Kellerton; 8. Blake Peeler, Trimble, Mo.; 9. Jeffrey Abbey, Comanche, Texas; 10. Jared Siefert, Luxemburg, Wis.; 11. Ryan Harris, Homer, Neb.; 12. Cayden Carter, Oskaloosa; 13. Derek Green, Granada, Minn.; 14. Tom Cannon, West Branch; 15. Jesse Sobbing, Mal­vern; 16. Jeff Mueller, Albion; 17. Ricky Thornton Jr., Adel; 18. Mitch Meier, Chilton, Wis.; 19. Damon Murty, Chelsea; 20. Jeffrey Larson, Lakefield, Minn.; 21. Travis Barker, Sioux City; 22. Jason Rogers, Selden, Kan.; 23. Tommy Fain, Abilene, Texas; 24. Jeremy Christians, Horicon, Wis.; 25. Randy Brands, Boyden; 26. Curt Lund, Redwood Falls, Minn.; 27. Michael Jaennette, Kellogg; 28. Ethan Dotson, Bakersfield, Calif.; 29. Kelly Shryock, Fertile; 30. Devin Smith, Lake City. “We had showed up Sunday morning just hoping to make the main event. I had a streak going (a division record 13 consecutive Super Nationals starts) and that was really our only goal. It really weighed heavy on us,” Smith said. “After the last chance race, I was probably as laid back as I ever was.” He’d take the checkers ahead of Vanover and Schafroth, whose third place showing was the best among 13 first-time qualifiers. Loren Pesicka Jr., another first-time qualifier, finished fourth and pole starter Abe Huls was fifth. “I’ve had the best car at Boone for a lot of the weekly shows this season, but I didn’t at Super Nation­als,” he continued. “I somehow won that race there at the end.” Smith’s first two Super Nationals crowns came in 2009 and 2012.  Former champions Damon Murty and Jeremy Christians started main events for the 15th and 13th times in their respective careers. Randy Brands, a two-time champ, was in for the ninth time, Huls the eighth and Vanover and Mueller both for the seventh.last_img read more

Baines happy to feel wanted

first_img Press Association Everton defender Leighton Baines says manager Roberto Martinez won the battle of wills with his predecessor David Moyes when it came to convincing him to commit his future to Goodison Park. Baines told the BBC’s Football Focus: “I talked about it a lot with the manager (Martinez), we had a lot of conversations because something seemed to be going on and he kept me informed. “He was adamant that he wanted me to stay here. “It was flattering really, to have your old manager wanting to take you with him and your new manager really wanting to keep you. “He said to me that until they decide to accept an offer or not, I could get on with my football and leave it up to them.” Baines, who admitted he got “a bit sick” of the constant newspaper speculation over his future before the summer transfer window closed, insisted he would never have tried to force a move away from Everton by refusing to play. “I don’t think that’s a route I would ever take, particularly not with Everton,” he added. “I know a lot of friends and family who’ve supported the club for a long time so I just don’t think it’s the right way to go about your business really. “You can get days when you get a bit sick of (the speculation) and you kind of just want an end to it. “But that’s not the way it works… the transfer window just drags quite a bit. “I think the manager made a good point at the time, it probably shouldn’t be active once the season starts. “Having been in that position it’s something I definitely agree with because it can be a distraction when you just want to play football.” Everton have gone from strength to strength under Spanish manager Martinez and are now locked in a battle for fourth place with Tottenham and Merseyside rivals Liverpool, who plundered a humbling 4-0 derby victory over the Toffees at Anfield on Tuesday. But, ahead of Saturday afternoon’s Premier League visit of Aston Villa, Baines was fully aware that there is plenty of time remaining for Everton to close the four-point gap to the Reds and compete for a Champions League berth. “It was a real low point, that result,” he added. “I think Liverpool were ruthless on the night and finished really well. “But I said before the game that there was a lot of football still to play after the Merseyside derby and that’s still the case. “The manager’s instilled that in us and the fourth spot’s as open as it’s ever been. We’ve got from now until the end of the season to be at our best and give it everything we’ve got. “That’s the only way we’ll get there.” The 29-year-old England left-back was heavily linked with a summer move to Manchester United, who in July appointed former Toffees boss Moyes as Sir Alex Ferguson’s successor, but Baines last week signed a new four-year deal to end any speculation over his future. While he admitted being flattered by Moyes’ attempts to persuade him to move to Old Trafford, he revealed that Martinez’s charm offensive had ultimately proved more successful. last_img read more

Champions League: Chelsea Through to Last 16

first_imgWillian scored twice as Chelsea progressed to the last 16 of the UEFA Champions League with a comfortable victory against 10-man Qarabag last night.Forward Willian had scored just one goal prior to this game this season – against Everton in the League Cup – but played a pivotal role in this win for the Blues, also winning two penalties.After former Birmingham City midfielder Michel hit the bar for Qarabag, Chelsea were awarded their first spot kick when Rashad Sadygov was adjudged to have pulled down Willian inside the area. Sadygov was subsequently sent off and Eden Hazard sent the goalkeeper the wrong way from the spot.The visitors quickly added a second following a stunning passage of play which ended with Hazard back-heeling the ball for Willian to side-foot home.Chelsea beat Qarabag 6-0 at Stamford Bridge in the first Group C game between the two sides back in September and a repeat of such a score-line looked likely with Antonio Conte’s side capable of scoring with every attack. Elsewhere, CSKA Moscow earned their first home win of the UEFA Champions League campaign with a 2-0 victory over Benfica that strengthens their push to reach the knockout stages while shattering the Portuguese side’s chances.Georgi Schennikov put CSKA ahead after 13 minutes with a left-footed finish, having been assisted by Bibras Natcho’s short through ball that shredded Benfica’s backline.The visitors’ troubles worsened after the interval as defender Jardel then clumsily deflected a cross by CSKA’s Vitinho into the back of his own net after 56 minutes.CSKA’s win puts them into second place in Group A on nine points behind leaders Manchester United, who played Basel late last night.Yet the result ensured that former European champions Benfica, still without a point, are now certain to finish last.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Former USC coach’s lawsuit against NCAA drags on

first_imgFormer USC running backs coach Todd McNair, the linchpin in the NCAA’s case against USC and Reggie Bush, wants to have his name cleared of any wrongdoing. But the NCAA is doing all it can to make sure that doesn’t happen.Fighting back · Former running backs coach and special teams coordinator Todd McNair joined the USC coaching staff in 2004. McNair was an ace recruiter for the Trojans up until his contract went unrenewed in 2010. – Photo courtesy of USC Sports InformationThe NCAA has been trying to keep 700 pages of documents concerning its investigation of USC and McNair under lock and key, while The New York Times and the Los Angeles Times have asked for the courts to disclose them to the public.Last Wednesday, the NCAA argued that the documents should remain sealed, claiming that its investigation process would be compromised if the documents were made available to the public. The two major newspapers, meanwhile, referred to the First Amendment and California Rules of Court, arguing that “court records are presumptively open.”A resolution between the two sides, either inside or outside of the courtroom, isn’t expected anytime soon.When USC was punished in 2010 with a two-year postseason ban and lengthy scholarship reductions by the NCAA following alleged misconduct involving Bush’s recruitment, McNair was also banned from working for any NCAA school or contacting any potential recruits for one year. McNair hasn’t been able to find a job in football since he was punished by the NCAA.The NCAA ruled that McNair had lied when he denied meeting Lloyd Lake, a wannabe sports agent who provided benefits to Bush. McNair appealed the decision and challenged the credibility of Lake, one of the NCAA’s key witnesses, but the NCAA appeals committee upheld the sanctions.McNair then sued the NCAA in June 2011, seeking to recoup damages from supposed libel and slander, among a handful of other offenses.Superior Court Judge Frederick Shaller’s decision to rule in favor of McNair this past November when the NCAA sought to have McNair’s defamation claims dismissed seemed to be heavily influenced by the documents at issue, according to reports.Shaller, a USC graduate, wrote in his decision that emails written by NCAA enforcement personnel related to McNair’s case “tend to show ill will or hatred” toward McNair.One NCAA employee called McNair “a lying, morally bankrupt criminal … and a hypocrite of the highest order,” in one email referred to by Shaller in his decision.Shaller also said that the actions of NCAA investigators were “malicious,” “over the top,” and demonstrated “a reckless disregard for the truth.”The sanctions bestowed upon USC and McNair have already been roundly disparaged by some members of the sports media.In December of 2011, before Shaller ruled in favor of McNair in the initial trial, ESPN Pac-12 reporter Ted Miller wrote, “It’s become an accepted fact among informed college football observers that the NCAA sanctions against USC were a travesty of justice … That’s the take of all clear-thinking people.”If the documents, which also include interview and deposition transcripts, do give substantial evidence to the claim that the NCAA unfairly targeted McNair, it’ll be another recent black mark for the NCAA, which has also come under fire for botching its investigation of the University of Miami. In January, the NCAA had to temporarily halt its investigation of Miami after admitting it improperly obtained information to look into alleged violations by the Hurricanes’ football and men’s basketball programs.For its part, USC has attempted to keep quiet and move on from the infamous sanctions. All traces of Bush were removed from Heritage Hall in 2010, and the Trojans are only sanctioned for one more season.In his ruling last fall, Judge Shaller did note that McNair had “demonstrated a probability of prevailing on the defamation claim.”Though the school has kept its distance from the McNair lawsuit, USC Athletic Director Pat Haden has intimated at various times that the school would revisit contesting the sanctions if new information came to light.last_img read more

Kearns hits out at Comerford punishment

first_imgTipperary Senior Football manager Liam Kearns has hit out at the punishment handed down to goalkeeper Evan Comerford for his sending off in a recent club game.The All Star nominee was given a 12 match ban for an altercation with the referee during a game between his club Kilsheelan Kilcash and JK Brackens.They unsuccessfully appealed the Competitions Control Committee ruling – however Liam Kearns says to take it further would distract from the upcoming Munster Championship game against Cork and put added pressure on Comerford. Speaking to Tipp FM the Tipp manager says the ruling will have a huge impact on their season.last_img read more

Flutter continues to feel the effect of FOBT ruling during Q3

first_img StumbleUpon Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 Submit Share Related Articles ‘Deal maker’ Rafi Ashkenazi ends Flutter tenure  August 27, 2020 Björn Nilsson: How Triggy is delivering digestible data through pre-set triggers August 28, 2020 Share Flutter Entertainment Plc, has seen its total group revenues jump by 9% during Q3, despite its retail division continuing to feel the effects of the changes in fixed odds betting terminals (FOBT) legislation implemented earlier this year.Publishing its interim report for the three months ended 30 September 2019, Flutter Entertainment disclosed a 9% year-on-year decline in retail revenues, down to £75m, as the 5% sportsbook growth was ‘more than offset’ by a 37% decline in FOBT revenues.The FOBT legislation meant that ‘gaming revenues decreased by 37% in Q3 2019 reflecting the impact of the change to FOBT staking limits since April. This compares with a decline of 44% in Q2 2019 and we have continued to observe an ongoing improvement in this trend as the year has progressed.’The group, which now includes Paddy Power, Betfair, FanDuel (US), Sportsbet (AUS) and the recently acquired Adjarabet (CIS) and Stars Group, has expressed hope in an improvement to its UK retail revenues as ‘competitors have moved to close shops in the vicinity of our UK retail estate and we expect this trend to continue as more closures occur.’Sports revenue for the group has grown by 10% and gaming growth of 7%, which has been supported by the addition of Adjarabet, which added 4 percentage points to Group growth in the quarter.  Commenting on the Q3 results, Flutter Entertainment Chief Executive Peter Jackson commented: “Q3 was an important quarter for the Group with revenues up 10% and the announcement of our combination with The Stars Group. We believe that this deal will accelerate delivery of all of our core strategic objectives and we are very excited about the international growth prospects for the combined group.   “Within PPB, both the Paddy Power and Betfair brands continued to make good progress in building more recreational customer bases through enhanced responsible gambling measures. While revenues in the quarter were impacted by this ongoing work, we remain confident that the changes being made will improve the sustainability of future growth and lead to a more diversified customer base for both brands.“In our retail business, we have seen an improvement in gaming revenue trends month‐on‐month and this trend has accelerated since the start of the fourth quarter as competitors have started to close shops across the UK.”Despite identifying a number of ‘encouraging underlying trends’, Paddy Power Betfair reported a 1% decline in revenues as a result of the combined impact of ‘responsible gambling measures and international market switch offs.’Online sportsbook revenues marked a 5% decline in Q3, while net revenue margins for the quarter were ‘broadly in line’ with the group’s expectations of 8.2%. Flutter Entertainment put this down to ‘a combination of the ongoing benefit of country specific pricing, positive customer bet mix changes (including increased same game multi usage) and continued growth in our recreational customer base.’But despite facing a tough regulatory landscape in the UK, the group’s Sportsbet division saw  ‘revenues increase by 19% in the quarter to £119m, driven by good customer growth over the last 12 months’.Jackson continued: “Sportsbet delivered another strong quarter in Australia with revenues increasing by 19%. Refinement of our pricing capabilities and ongoing changes in our product mix are delivering positive changes in expected margins while ongoing investment in product and value is continuing to drive customer engagement.”Flutter said that its US operation FanDuel has now launched online sports betting in Pennsylvania, West Virginia and Indiana and Jackson has been very encouraged by progress to date. He added: “Published market share data in Pennsylvania shows that FanDuel quickly became the market leader with around 50% share while we remain the clear number one operator in New Jersey also. Notwithstanding the substantial investment we are making, our strong customer and revenue momentum means that we are raising our full‐year guidance in the US.”PPB Online revenue down 1% impacted by combination of tough comparatives, market switch-offs and ongoing enhancement of responsible gambling measures. Sportsbook up 7% (excluding World Cup). Gaming daily actives up 9% #FlutterResults pic.twitter.com/dXW8eXhQTl— Flutter plc (@FlutterPLC) November 7, 2019last_img read more