Naughty Santa

How to play Naughty Santa

The share price came under pressure following debt disclosures in Bally’s Q2 10-Q filing, which was submitted to the Securities and Exchange Commission on 14 August.

In the filing, Bally’s noted that based on current forecasts, the business “does not project that it would satisfy the liquidity maintenance requirement” or the “consolidated net leverage ratio covenant” in its revolving credit facility over the next year.

The filing added: “As described below, while the company is actively engaged in discussions on several financing alternatives, the conditions and events raise substantial doubt about the company’s ability to continue as a going concern.”

How to play Naughty Santa

Skyhills is the third illegal operator targeted by Nederlandse Loterij, with prior legal action taken against Lalabet and Qbet. 

The Lalabet case, which reached a milestone in June, saw a Dutch court rule largely in favour of the lottery operator. 

It found Lalabet’s operators and directors had acted unlawfully by targeting Dutch players and ordered them to cease activities and provide detailed ownership and shareholder information.

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In April, court documents showed that Evolution had sought to add Playtech to the case.

While Playtech has backed its Black Cube investigation Evolution slammed it as a “smear campaign”, and has strongly refuted the claims made, citing them as “highly inflammatory and knowingly false”.

As the case rumbles through court, a key piece of evidence, meant to support Evolution’s defence was a report carried out by specialist gaming advisors Spectrum Gaming Capital. It analysed Evolution’s operations and was meant to counter the damning Black Cube report.