Month: August 2021

Microgaming expands poker reach into Bulgaria

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games 7th December 2018 | By contenteditor Tags: Card Rooms and Poker Online Gambling Subscribe to the iGaming newsletter Microgaming’s online poker platform is to make its debut in Bulgaria’s iGaming market after agreeing a new supply deal with local operator National Lottery AD.The deal sees Microgaming power a new poker offering for the operator’s 7777.bg iGaming brand. It will offer a range of tournaments and cash games via the brand, supported by a number of promotional tools.The supplier, which brokered the new deal through the software reseller Prima Networks, said the partnership is in line with its strategic goal of expanding its presence in key regulated markets.“This marks a significant step in growing the poker network and reflects our commitment to continued growth and expansion into regulated markets,” said Andrew Clucas, who was appointed chief operating officer of Microgaming in July.National Lottery AD, which also takes content from suppliers including Kambi Group and Ezugi, has never before offered a bespoke online poker product to its customers.“This strategic partnership enables us to continue to diversify our product offering and to deliver entertaining and award-winning poker games to our customers,” National Lottery AD managing partner Milen Ganev said.This week, figures released by the Bulgarian Trade Association of Manufacturers and Operators in the Gaming Industry (BTAMOI) to iGamingBusiness.com showed an increase in tax contribution from the national market during the first nine months of 2018.The Bulgarian online sector paid BGN111.6m (£50.9m/€57.1m/$64.9m) in the first three quarters of the current year, up 17% on the same point in 2017. The BTAMOI also said that online gaming now makes up approximately 10% of Bulgaria’s total gambling market.Image: Santeri Viinamäki Software provider will supply poker product to 7777.bg operator National Lottery AD Microgaming expands poker reach into Bulgaria Regions: Europe Central and Eastern Europe Bulgaria Topics: Casino & games Tech & innovation Poker Email Addresslast_img read more

Danish regulator launches whistleblower scheme

first_imgCasino & games Subscribe to the iGaming newsletter Danish regulator launches whistleblower scheme Danish regulator Spillemyndigheden has established a new whistleblower scheme allowing employees of gambling operators to report evidence or suspicions of wrongdoing in relation to money laundering laws.Individuals concerned about activities that could place the operator in breach of money laundering legislation can contact the regulator directly via a dedicated section on its website.Reports can be sent to Spillemyndigheden anonymously, while all submissions will be encrypted to ensure security throughout the process.The regulator will analyse each report, make a legal assessment and take further action if deemed necessary.Spillemyndigheden has taken a number of steps to enhance consumer protection in 2019 to date, including last month issuing a warning to licensees ensure any bonus offers they are running are in line with rules set out by the Danish Consumer Ombudsman.The regulator has also petitioned the country’s telecommunications providers to block access to 25 unlicensed gaming websites, and in March set out a new code of conduct for operators, with the aim of strengthening consumer protection and lowering the risk of gambling addiction.The regulated Danish gambling market continues to see growth across a number of verticals, with Spillemyndigheden reporting a 5.7% year-on-year increase in revenue to DKK9.74bn (£1.14bn/€1.30bn/$1.46bn) in 2018.Gross gaming revenue from sports betting amounted to DKK2.53bn last year, up from DKK2.33bn in 2017, while online casino revenue also increased by 19.5% from DKK1.81bn to DKK2.16bn. 16th May 2019 | By contenteditor Danish regulator Spillemyndigheden has established a new whistleblower scheme allowing employees of gambling operators to report evidence or suspicions of wrongdoing in relation to money laundering laws. Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Nordics Denmark Tags: Online Gambling OTB and Betting Shops Topics: Casino & games Lottery People Sports betting Strategylast_img read more

Wager launches peer-to-peer betting app

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Social betting startup Wager has launched its peer-to-peer betting platform for players in the UK market. “As punters, we were constantly disappointed by the poor quality of betting apps. So we decided to build Wager as an app that felt modern and slick to use,” he explained. “Punters deserve better than what they were being offered.” Regions: UK & Ireland 23rd August 2019 | By contenteditor Email Address Topics: Casino & games Sports betting Social gaming The pair have been working on the product since November 2018, after a virtual currency version convinced venture capital fund Forward Partners to invest £500,000 in the project. Forward Partners’ internal technology team was also involved in the app’s development, which was built from scratch.Wager has also secured backing from sports data specialist Sportradar, which accepted the startup onto its accelerator programme, while the site operates under betting intermediary and gambling software licences from the GB Gambling Commission.The product is targeted at millennial sports fans, which Wager will look to target through social networks, as well as through partnerships with digital and radio sports news sites.It will also offer weekly special bets such as whether Paul Pogba will take Manchester United’s next penalty kick, having missed one in the team’s draw with Wolves this week.“These always divide opinion so are perfect for friend-to-friend betting,” Barnes said.Read an interview with Wager founder Leo Barnes, in iGB’s regular Startup Spotlight feature. Subscribe to the iGaming newsletter Tags: Mobile Online Gambling Wager launches peer-to-peer betting app Casino & games Social betting startup Wager has launched its peer-to-peer betting platform for players in the UK market.The product allows friends to place cash bets against one another similar to an exchange, but is described as a “friend-to-friend” betting app by founders Elliott Robinson and Leo Barnes.It provides users with a list of all football matches being played over a day, as well as live odds and payment functionality, allowing punters to select bets and challenge their friends to bet against them.“Wager cuts out the bookie – every bet is between two friends,” Barnes told iGamingBusiness.com. “It is the ultimate way to prove that you know football better than your mates”last_img read more

Sweden: 2019’s biggest short or a bull market in waiting?

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Looking at the current state of Sweden’s newly regulated igaming market, RB Capital’s Julian Buhagiar says savvy investors will be steering clear, and those with an interest looking for an exit. Sweden: 2019’s biggest short or a bull market in waiting? 27th August 2019 | By contenteditor Looking at the current state of Sweden’s newly regulated igaming market, RB Capital’s Julian Buhagiar says savvy investors will be steering clear, and those with an interest looking for an exit.Whilst it is true that, from a broader investment perspective, a significant amount of drama is unfolding on the bond and futures market, there is a more pertinent developing story taking place in the Swedish gambling equity markets.To fully appreciate the scale – and future impact – of these developments, it’s worth revisiting the hype and anticipation in December 2018, when many expected Sweden’s re-regulated market to be the highlight of 2019. With a raft of operators speaking of their ambitious plans for one of Europe’s most exciting markets, the future indeed looked bright.Eight months on, and few would disagree that things didn’t turn out quite as expected. A slow-motion implosion of nose-diving share prices, a raft of fines to cover the deficit of a third world country, and a swift revocation of gambling licenses not entirely dissimilar to the pre-1930s prohibition era.Earnings reports have made for sober reading, with regulated revenues down at least 15% year-on-year in comparison with last year’s ‘grey’ market. In all likelihood the decline will be closer to 20% once the full reports are in.Not for the faint hearted  To date, the regulator has sanctioned 15 companies in total, with one licensee fined twice, and another stripped of its licence entirely. Insiders warn of additional – harsher – penalties on the way, with GVC and GiG among those who are prepared to go through Sweden’s stringent legal process to defend their name in court.In alternative territories, such turmoil would typically have speculators relying on the stability of larger players’ share prices, but this does not seem to be the case for Sweden. High cap stocks such as Betsson have not fared any better, nor has Kindred (unsurprisingly, in hindsight).So what has gone wrong? After all, investment in a regulated market in one of Europe’s most advanced and stable economies was meant to be safe as (non-UK) houses. Sweden should have been a case study in taxing and regulating an online gaming market. It’s thus worth taking a look under the bonnet to dissect what should (and shouldn’t) have happened. This narrative might not be for the faint hearted – especially those who have long positions on Swedish gaming equities!In retrospect, it’s no doubt that the Swedish Gaming Authority’s lack of clarity on regulations was an unnecessary spanner in the works. Breaking the rules is far easier when nobody knows what the rules should have been in the first place (as opposed to, say,  Italy, UK, Germany and the Netherlands, pre-2015). Bonusing is a particularly contentious point here – with all ‘economic incentives’ linked to games currently banned, how far does this go? What is the end-point of an economic incentive? Most legislative rule books fail to outline this clearly, much less Sweden.Sports betting has fared even worse under these new regulations. How can a bookmaker possibly predict if (and when) an under-18 football player will be a surprise addition to the team sheet? Should all markets be frozen as soon as they are brought onto the pitch? Can punters still place a bet if the players doesn’t make a substitute appearance? From a venture capitalist’s standpoint very little capital will flow into a country where all bets could suddenly be called off at a moments’ notice. Or, as was the case with Global Gaming, a license gets revoked with virtually no explanation or clarity.Immeasurably high barriers This author is a supporter of regulation and compliance – but only when done properly. It’s essential to create a marketplace of trust in a newly regulated territory, and even more so when it comes to levelling the playing field. Ironically, the SGA has arguably done the opposite and made the Swedish market the world’s most inhospitable territory for gaming operators to do business.Until the SGA starts to provide more clarity, investors do not expect things to change. We’ll likely see the law of unintended consequences play out in real time as money flows back into the black markets. After all, punters still want to place a bet – if the ‘white’ market is unable to provide this service, punters will go elsewhere (as has happened in Italy). It’s simple behavioural economics in action. A cultural desire to start and stop betting cannot be controlled by a regulator. Until the SGA provides a suitable framework to operate effectively, it will have unfortunately achieved exactly that – a reason to go elsewhere.It doesn’t stop there unfortunately. If an oligopolistic market was what the SGA wanted; they’re certainly getting it. With the threat of eye-wateringly high fines based on a rulebook that remains disconcertingly vague, many smaller operators are now running in the opposite direction from anything with the ‘Sweden’ name on it.Currently the market is shaping up to be one in which only the most financially robust operators, those capable of weathering the turbulent storm of excessive fines, are left.  And we’ll soon see just what such a market, with little to no competition and immeasurably high barriers to entry, looks like. Uncompetitive pricing and lack of incentive to innovate will be just two of the many consequences – and it leaves very little space for optimism.So, what happens next? Of course, the market needs to stabilise first, which hopefully will happen in the next nine months to a year. There were bound to be teething problems in the first few months, but given the way this year has unfolded, ongoing issues will continue well into 2020, and likely beyond.Logically, if the SGA intends to claw back its position, it will need to provide more clarity on regulations, and learn its lessons. It is the view of many prominent investors that the SGA would do well to take a leaf from the Danish regulator’s playbook. While Spillemyndigheden carries a big stick for enforcement (which is not used unsparingly), it takes a pragmatic and transparent stance with operators, providing clear guidelines and sensible tax levels.Once the SGA provides the industry with understandable interpretations of the rules it is putting in place, there should be an improvement, and with it a buy-in from the international players. Until that happens the smart money will stay on the sidelines and any decent investor worth their fund will be hitting the sell button at any Swedish operator’s public listing. Topics: Casino & games Legal & compliance Sports betting Strategy Subscribe to the iGaming newsletter Email Address Tags: Mobile Online Gambling Regions: Europe Nordics Sweden Casino & gameslast_img read more

Rank Group completes acquisition of Stride Gaming

first_img4th October 2019 | By contenteditor Tags: Online Gambling Rank Group completes acquisition of Stride Gaming Bingo Rank Group, the parent company of Mecca Bingo and Grosvenor Casinos, has finalised its acquisition of online casino and bingo operator Stride Gaming. Stride Shares will cease trading on AIM at 7.00am on October 7. Subscribe to the iGaming newslettercenter_img Rank Group, the parent company of Mecca Bingo and Grosvenor Casinos, has finalised its acquisition of online casino and bingo operator Stride Gaming.In a statement released this morning (4 October), Rank said that it now owns the entire issued ordinary share capital of Stride. Rank’s original bid that it lodged in May was worth  £115.3m(€129.5m/$142.2m).As per the terms of the acquisition agreement, admission to the trading of Stride shares on AIM will be cancelled from 7.00am on October 7. Scheme Shareholders on the register at 6pm today will receive 151 pence in cash for each share.Consideration due to the scheme shareholders will be sent no later than October 18.“Today marks a significant day for Rank,” Rank Group’s chief executive John O’Reilly said. “This acquisition delivers a proprietary technology platform and highly experienced team which will accelerate the transformation of Rank and create one of the UK’s leading online gaming businesses.“Our focus now turns to ensuring we successfully integrate Stride into Rank and realise the potential of our new enlarged digital business.”Completion of the acquisition comes after a court sanctioned the deal earlier this week. Stride shareholders voted to back the deal in July, while the GB Gambling Commission last month also gave its approval to the acquisition.When announcing the original offer, Rank said that the merger would create a business with pro forma digital net gaming revenues of approximately £185m.Rank also said the acquisition would help to improve its performance and reduce costs through migration to Stride’s proprietary technology platform and in-house ecosystem.Other benefits, according to Rank, include significant value from strong synergies and greater financial flexibility to the combined business, while the addition of senior Stride staff will strengthen its management team. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Strategy Bingo Email Addresslast_img read more

Scientific Games chairman Perelman to sell 34.9% stake

first_imgIn July, Perelman (pictured) filed a notice that he was considering divesting his entire stake. Email Address “Scientific Games is well-positioned for future success given our industry leading portfolio of products and technologies, loyal customer base and talented leadership team,” Scientific Games chairman Barry Cottle said. “We are pleased to have the support of our refreshed Board and new investor base as we continue to execute on our strategy to drive meaningful long-term growth and shareholder value creation.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th September 2020 | By Aaron Noy Topics: Casino & games Finance Perelman’s investment fund, MacAndrews & Forbes, will sell the stake to investors including FTSE 250 member Caledonia Investments for $28.00 per share, in a deal that will also see two Aristocrat Leisure veterans join Scientific Games’ board. Scientific Games has announced that investor Ron Perelman will sell a 34.9% stake in the supplier for more than $900m to a group of institutional investors. Scientific Games chairman Perelman to sell 34.9% stake Subscribe to the iGaming newsletter Casino & gameslast_img read more

Landcadia II looks to complete GNOG deal on Dec 18

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter While the merger is subject to customary closing conditions, it is expected to be finalized “as soon as practicable” should shareholders back the deal at the special meeting. Email Address Tags: Golden Nugget Online Gaming Landcadia Holdings II The acquisition took a step towards completion last week, after GNOG was granted an online casino license by the New Jersey Casino Control Commission, meaning it is licensed as a separate entity to the land-based Golden Nugget casino business. Nasdaq-listed special purpose acquisition company Landcadia Holdings II has called a special meeting on December 18 for shareholders to approve its acquisition of Golden Nugget Online Gaming (GNOG). 3rd December 2020 | By Conor Mulheir Topics: Casino & games Online casino Read the full story on iGB North America. Online casino Regions: US New Jersey Landcadia II looks to complete GNOG deal on Dec 18 In lieu of its 2020 annual meeting of stockholders, the company has scheduled the special meeting to approve the proposed business combination with GNOG. This will see GNOG spun off from the core Landry’s casino and hospitality business, and trade on the Nasdaq as a separate, listed entity.last_img read more

Ra K.O. by Green Jade Games

first_imgYou can play a demo of this slot here! AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter You can download the First Look Games affiliate pack for this slot here! 27th April 2021 | By Aaron Noy Email Address Game type:Video slotGo-live date (expected):Out nowGame special features:Auto Knockout feature (K.O. Slots), magic wilds, Ra’s bonus reelsNumber of paylines:50Number of reels:6×4RTP% (recorded/theoretical):96.10%Variance/volatility:MediumNumber of symbols to trigger feature/bonus?3-6Can feature be retriggered?NoNumber of free spins awarded?N/AStacked or expanding wilds in normal play?N/AStacked or expanding wilds in feature play?N/ANumber of jackpot tiers?N/AAuto-play function?:Yes Subscribe to the iGaming newsletter Topics: Casino & games Slots Slots Ra K.O. by Green Jade Games Take your players to their favourite slot-playing hangout of Ancient Egypt in this 6×4 title which features Green Jade Games’ Auto Knockout feature, magic wilds and Ra’s bonus reels!last_img read more

Women only F-1 like championship on the cards : Reports

first_imgLatest Sports NewsSports BusinessNewsSport Women only F-1 like championship on the cards : Reports Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore 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 Cricket Cricket Cricket Cricket Football Formula 1 Latest Sports News Cricket by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeCapital One ShoppingThis hack can uncover JOANN discounts you don’t know aboutCapital One ShoppingUndoE! OnlineTLC’s So Freaking Cheap Takes Penny-Pinching to the ExtremeE! OnlineUndo24/7 SportsIt’s Amazing To See How These NBA Stars Have Changed Since College24/7 SportsUndoThe reports reveal that one of the London-based company is behind the project and has the financial backing to get the landmark proposal off the ground. The series also has the support of Felix Porteiro, a former Spanish racing driver who competed against Lewis Hamilton in F1’s feeder series GP2. The leaked document also claims that the organizers have presented the series model to a couple of leading broadcasters, who have reportedly shown interest in broadcasting the series.According to the Press Association, several leading women racing drivers approached by organisers regarding the series are “understood to be skeptical and believe a women’s only championship may harm or undermine their position within the industry”.Motor racing is the biggest sport that does not offer an alternative for women to compete in standalone events, though there are no rules preventing women competing in the top series of the sport. The news comes two years after Formula One’s chief executive at the time, Bernie Ecclestone, suggested a separate championship for female drivers could run on Grand Prix weekends.A spokesperson for the new series organisers said: “There will be no announcement for a number of months as we are undertaking a lot of research and completing our strategy. Starting something from scratch takes an enormous amount of time to get right.”Italy’s Lella Lombardi and Maria Teresa de Filippis are the only female drivers to start a Formula One race in the championship’s history. Lombardi is the only women driver in the history of sports to have scored a point in the Formula One series. Post Lombardi era, Divina Galica, Desire Wilson and Giovanna Amati was engaged as Formula 1 drivers to compete in the series but could never manage to start from the grid.In 2014, Susie Wolff became the first woman for 22 years to compete in a practice session and made four Friday appearances or the Williams Martini Racing team. Spaniard Carmen Jorda was a Formula One development driver from 2015 to 2017 for the Lotus and Renault Sport Formula One teams, and the Colombian Tatiana Calderon this year served as a development driver for the Sauber team Facebook Twitter F1 French GP 2021: Max Verstappen pips Lewis Hamilton to win French GP, Perez finishes 3rd Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your country Football RELATED ARTICLESMORE FROM AUTHOR WTC Final LIVE: Devon Conway continues red-hot form, slams fifty to provide New Zealand dream start WTC Final LIVE: Jamieson says, ‘nice and pleasing to get Virat Kohli’s wicket’; Gill feels India could have got more wickets By Kunal Dhyani – November 30, 2017 YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatter|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|SponsoredSponsoredUndo Euro 2020- Switzerland beat Turkey 3-1: Shaqiri’s brace keep Switzerland hopes alive; Turkey face exit from Euros Cricket PSL 2021 Playoffs: Schedule, Timing, LIVE streaming, list of champions; all you need to know Previous articleSuzuki stays title sponsor for AFF ChampionshipNext articleBCCI fined INR 52.24 cr for ‘anti-competitive practices’ Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. WTC Final IND vs NZ: Virat Kohli displays his dancing skills on the beats of Bharat Army’s Dhol; Watch video An all-woman Formula One like motor racing championship is likely to hit the circuit as early as 2019.If reports are to be believed, then 2019 can be a historic year for the sport of motorsports racing. Plans have been drawn up to stage a historic women-only motor racing championships in. The groundbreaking series could see women drivers comet at six races, five of which will be staged in Europe and the other in America, the information is gathered from leaked reports. TAGSall-woman Formula OneF1Felix PorteiroFormula oneLella LombardiMaria Teresa de FilippisMotor racingSusie Wolff SHARE Share on Facebook Tweet on Twitter BCCI to form committee to take call on compensating domestic cricketerslast_img read more

Cricket Business : Pakistan Cricket Board admits revenue shortfall, domestic cricket…

first_img Cricket Cricket Business : Pakistan Cricket Board admits revenue shortfall, domestic cricket budget slashed Previous articleNBA releases full schedule despite of 16 players testing Covid19 positiveNext articleAndy Roberts asks, ‘Why West Indies agreed to tour England without compensation from ECB’ Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Cricket IND vs NZ Live Streaming for free with Jio, Airtel and Vodafone Idea, Check out the best Recharge Plan Tokyo Olympics: IOA fuming as Japan imposes stricter regulations on India’s Olympic team, calls it ‘discriminatory and unfair’ YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|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|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndo 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 ICC WTC Final: 10 years of Virat Kohli’s Test career, 10 best moments of India’s greatest Test skipper Cricket RELATED ARTICLESMORE FROM AUTHOR by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeIPL 2020: Bad news for Sunrisers Hyderabad’s Jonny BairstowUndoIPL 2020 : Srikanth and fans slams MS Dhoni, says ‘wasted 15 Cr on Jadhav & Chawla’UndoFree Fire Redeem Codes for April 13th, Best ways to Redeem themUndoAlso Read: Cricket : Pakistan Cricket Board extends contracts of all domestic players and coachesThe BOG was also informed that due to the Covid-19 pandemic there will be a shortfall in revenues as the pandemic has left the fate of revenues from international events hanging in balance and may also affect PCB’s commercial programme.Pakistan Cricket – Budget Details & HighlightsThe PCB has allocated biggest percentage of its 7.76 billion rupee annual budget for the development of domestic cricket while slashing it by 10 percent. The budget which was approved at the Board of Governors (BOG) meeting on Friday sees 71 percent of the total expenditure budget allocated to cricketing activities.– PCB will spend 71.2% of total budgets on cricketing activities– The allocated 71.2 per cent cricket budget includes 25.2 per cent for domestic cricket (events and players/match officials/player support personnel contracts and High Performance Centre costs),– 19.3 per cent for international cricket (home/away series and player contracts).– A 5.5 per cent for women’s cricket (home/away cricket and player contracts),– 19.7 per cent for PSL 2021– 1.5 per cent for Medical and Sport Sciences.The BOG has also agreed to continue investment on infrastructure development by approving a 1.22 billion budget for capital expenditure, a reduction of approximately 800 million from 2019-20.Mani said “We have followed a strict cost-benefit and value for money policy while preparing this budget taking into consideration the economic situation due to the Covid-19 pandemic.“The budget caters for all critical business of cricket activities, while the nice-to-have activities have been set aside as part of our cost-cutting measures and to protect our reserves for the future.”According to the new monthly retainer structure, the PCB will again offer 192 leading domestic players (32 from each of the six Cricket Associations) performance-based contracts, but instead of paying a flat monthly retainer of 50,000 to all players, this season slab-wise payments will be made. The four slabs are P150,000 pm, P85,000 pm, P75,000 pm and P40,000 pm.Also Read: Pakistan tour of England : With two days remaining to board the flight, PCB… WTC Final LIVE Day 3: Good news, rain unlikely throughout Day 3 as India look to take charge against New Zealand Sport News By Kunal Dhyani – June 27, 2020 WTC Final Day 3 LIVE Score: Virat Kohli & Ajinkya Rahane look to post big score for Kiwis, follow IND-NZ Day 3 Live Updates ENG-W vs IND-W: England captain Heather Knight lauds one-off Test as ‘great advert’ for women’s cricket Cricket Euro 2020, Italy vs Wales LIVE: Gareth Bale and Co face do-or-die clash; Italy eye third consecutive win; Follow Live Updates, CricketSports BusinessCricket BusinessLatest Sports NewsSport Latest Sports News Share on Facebook Tweet on Twitter Tokyo Olympics: Organisers mulls to allow 20,000 fans for Tokyo 2020 Opening ceremony Cricket Cricket Football Cricket TAGSCricket BusinessCricket NewsEhsan ManiPakistan cricketPakistan Cricket BoardPakistan Cricket BudgetPakistan Tour of EnglandPCB Annual BudgetsPCB News SHARE The Pakistan Cricket Board (PCB) has admitted that they are hit by Covid19 in the Board of Governors meeting (BOG). The meeting was called to finalize the annual budgets for the Pakistan cricket.In the BOG held via video conference under the chairmanship of Ehsan Mani it was decided to reduce the budget by 10 percent as part of the PCB’s austerity, robust financial management and belt-tightening exercise.“These steps have been taken to ensure that despite tough financial situations due to the Covid-19 pandemic, cricket remains unaffected and the PCB continues to invest in the future,” a PCB release said. ICC WTC Final: Ravichandran Ashwin reveals when he plans to retire from cricketlast_img read more