Norwegian Air to get government loan in restructuring

first_imgCOPENHAGEN, Denmark (AP) — Norway’s government says it will give ailing low-cost carrier Norwegian Air Shuttle a loan worth 1.5 billion kroner ($173 million) as long as the company manages to raise at least 4.5 billion kroner ($520 million) from other investors. The airline had earlier said it will end its long-haul operations and instead focus on European destinations as it struggles with the fallout of the coronavirus pandemic and debt restructuring. The company presented a plan that cut its fleet from 140 aircraft to about 50, and also said it would reduce its total debt. The plan must be approved by a bankruptcy court in Ireland, where its planes are registered.last_img read more

GLMS President strengthens support for sustainable sports betting

first_img Related Articles GLMS report flags 178 suspicious betting alerts in Europe July 9, 2020 Share GLMS monitors North American integrity with Montreal Hub June 23, 2020 Share Submit Sporting Solutions unveiled as GLMS Associate Member June 2, 2020 StumbleUpon Speaking at the Conference of the North American Association of State and Provincial Lotteries (NASPL) in Cleveland this week, GLMS President, Ludovico Calvi highlighted that regulated sports betting can lead to a ‘turning point’ for the evolution of US Gaming.Playing a key part in a high level discussion on the climate for US Sports Betting post given that PASPA has been repealed, Calvi emphasised the GLMS’ full support for regulated, responsible and sustainable betting market environments since prohibition has often only favoured the proliferation of black markets, criminal orgs and, as a result, sport competition manipulations.He went onto outline threats and opportunities for the Lotteries in connection to the world of sport and the need to effectively join the legalisation process and play a key role in the definition of sustainable regulatory frameworks. He also mapped out that the repealing of PASPA has provided a great opportunity for US Gaming to innovate itself and engage young adults and millennials effectively through, digital social engagement and entertainment.Sports Integrity has been a key debated topic in the US media and Ludovico presented GLMS and its mission to the audience, pointing out the need for a clear and sustainable US sports integrity policy and urged for cooperation among all private and public stakeholders.The GLMS programme is a lottery industry mutualised monitoring system on sports betting aimed at detecting and analysing suspicious betting activities that could question the integrity of sports competitions.The firm recently partnered with Scientific Games Corporation (SGC) after it became the first lottery betting supplier to join the GLMS programme.Pat McHugh, Senior VP Global Lottery Systems for Scientific Games, commented on the GLMS operation: “We are very impressed by the strong growth of the GLMS over the past year, and we are honoured to support its good efforts now as an Associate Member. The work of GLMS both in the field of monitoring of betting patterns and in establishing a culture of integrity is outstanding. Scientific Games is fully aligned with this important global effort to safeguard the integrity of sports betting for lotteries.”last_img read more