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Great Canadian Gaming reports revenue growth

Niji Ng

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Great Canadian Gaming reports revenue growth
Image source: Baystreet.ca
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Great Canadian Gaming, the Toronto-based gaming company, has reported a rise in revenue in the third quarter of 2018.

The revenues rose to $343.2m and adjusted EBITDA increased to $140.6m in the third quarter, which represents 115 and 124 per cent, respectively, year on year.

The company has recently announced the gaming expansion at Casino Woodbine on its second level, with the introduction of 50 table games and over 300 slot machines. Subsequent to the third quarter of 2018, Casino Woodbine added further gaming capacity on its third level, bringing the total gaming capacity to approximately 3,700 slot machines and 100 table games.

“2018 continues to be an exceptional year for Great Canadian,” said Rod Baker, the company’s president and chief executive officer. “Our third quarter results reflected a full three months of operations from the West GTA Gaming Bundle, which is under Great Canadian’s management since May 1, 2018, and approximately one month of new revenues for Casino Woodbine generated from the introduction of table games and additional slot machines. We expect the new table games, which have been well received by the market, to help develop our customer base.”

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Scientific Games Completes Acquisition Of Don Best

George Miller

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Scientific Games Completes Acquisition Of Don Best
Photo Source: journaldunet.com
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Acquisition enhances the Company’s unparalleled end-to-end sports betting solution

 

Scientific Games Corporation completed its previously announced acquisition of Don Best Sports Corporation and DBS Canada Corporation (together, “Don Best”), enhancing its sports betting portfolio and managed trading services with real-time data and pricing resources. With the addition of Don Best’s trading and pricing expertise to its OpenBet™ product suite, the Company provides an unmatched comprehensive library of sportsbook technology.

The acquisition follows the successful formation and launch of SG Digital’s Sportsbook Operations service, which provides trading, marketing, and product management services to customers. The Don Best team will provide world-class betting and pricing services along with valuable real-time event data solutions. Heading up the team as Managing Director will be industry veteran Benjie Cherniak. Benjie has spent the past decade building the organization’s highly regarded sports information, live pricing, and data integrity divisions. A leading voice in the emerging U.S. sports betting industry, Benjie will report directly to Keith O’Loughlin, SG Digital’s SVP Sportsbook.

Barry Cottle, Chief Executive Officer of Scientific Games, said, “Don Best’s world-class sports betting trading operation completes our full-service sports betting solution and enhances our ability to provide customers with a complete managed sportsbook. Don Best’s unrivalled pricing, trading and data services, combined with our new marketing services and OpenBet, our global leading sports betting technology platform, uniquely fortifies our position as the world’s leading sports betting provider, ready to help our customers win in the emerging U.S. sports betting market and beyond.”

Benjie Cherniak, Managing Director of Don Best, said, “We’re joining the Scientific Games team during a transformational time in the sports betting space, and our offerings are the perfect complement to the Company’s already-strong portfolio of products and services. With our specialized leadership, unmatched expertise in the North American market, extensive knowledge of the region’s most popular sports, and leading trading capabilities, we will continue to augment our partners’ sports betting technology.”

Keith O’Loughlin touches on the immediate contributions Don Best will make to the SG Digital portfolio: “When you put together a comprehensive sports offering, it’s important to capture every single customer need in the teams you build. For us, Don Best is a perfect piece in the larger sports betting puzzle, truly augmenting our comprehensive offering for sportsbook operators. Don Best’s trading platforms already seamlessly integrate into our OpenBet product suite, so the impact will be instantly beneficial. We’re thrilled to welcome Don Best to the SG Digital team and to continue improving our product portfolio.”

© 2018 Scientific Games Corporation.  All Rights Reserved.

 

About Scientific Games:
Scientific Games Corporation is the global leader in technology-based gaming systems, table games, table products and instant games and a leader in products, services and content for gaming, lottery and interactive gaming markets. Scientific Games delivers what customers and players value most: trusted security, creative content, operating efficiencies and innovative technology. Today, we offer customers a fully integrated portfolio of technology platforms, robust systems, engaging content and unrivaled professional services. For more information, please visit scientificgames.com.

 

Forward-Looking Statements
This press release includes “forward-looking statements” and “forward-looking information” (collectively “forward looking statements”) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as “may,” “will,” “estimate,” “intend,” “plan,” “continue,” “believe,” “expect,” “anticipate,” “estimate,” “should,” “could,” “potential,” “opportunity,” or similar terminology. These statements are based upon management’s current expectations, beliefs, assumptions and estimates and are not guarantees of timing, future results or performance. Similarly, statements herein that describe the transaction, including statements of management’s expectations, beliefs, assumptions, estimates and goals regarding the transaction may be forward-looking statements. These forward-looking statements involve certain risks and uncertainties and other factors that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: the ability of Scientific Games to integrate Don Best’s business; the ability of Scientific Games to implement its plans and other expectations with respect to Don Best’s business; and the other risks, uncertainties and important factors contained and identified (including under the heading “Risk Factors”) in Scientific Games’ filings with the Securities and Exchange Commission, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and, except for Scientific Games’ ongoing obligations under applicable securities laws, Scientific Games undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

Source: Scientific Games Corporation

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The Canadian Gaming Association welcomes NHL partnership on sports betting

George Miller

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The Canadian Gaming Association welcomes NHL partnership on sports betting
Photo Source: si.com
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The Canadian Gaming Association welcomes the announcement made by the National Hockey League on its first sports betting partnership with MGM Resorts International.

The NHL’s decision to establish this partnership with the gaming industry in the United States will bring an exciting new level of engagement for NHL fans both in arenas and casino sports books across America.

The CGA welcomes this partnership and invites the NHL to work with Canada’s gaming industry to bring about the legislative changes necessary to offer this same level fan experience to Canada. Canada has had legal parlay sports wagering for decades. To remove the prohibition on single-event wagering, a simple amendment to repeal paragraph 207(4)(b) of the Criminal Code is required.

Canadians are without question the world’s most passionate hockey fans and want new ways to engage with their favourite sport. By working cooperatively with Canada’s gaming industry, the NHL can make single-event sports wagering a reality for Canadian hockey fans.

“This is an excellent example of the type of relationship the Canadian gaming industry is looking for with professional sports leagues”, said Paul Burns, President & CEO of the CGA. “We know that Canadians enjoysingle-event sports betting because they are wagering approximately $14 billion annually through illegal channels. We invite the NHL to work with our gaming industry to bring about the changes required to realize the full economic potential of single-event sports wagering in Canada – and give Canadian fans thesame experience as their US counterparts.”

 

About the Canadian Gaming Association:
The Canadian Gaming Association (CGA) is a not-for-profit organization that works to advance the evolution of Canada’s gaming industry. The association’s mandate is to promote the economic value ofgaming in Canada; use research, innovation, and best practices to help the industry advance; and create productive dialogue among stakeholders.

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Loto-Quebec’s online gambling revenue surges

Niji Ng

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Loto-Quebec’s online gambling revenue surges
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Loto-Quebec, the Canadian province’s gambling monopoly, registered a one-third hike in online gambling revenue in the first half of the fiscal year.

Loto-Quebec reported an overall revenue of C$1.394b (US$1.06b) in the six months ending September 25, which represents 4.6 per cent gain year on year. Net income increased by 6.3 per cent to C$721.6m.

Loto-Quebec’s lottery revenue rose by 15.6 per cent to C$467m, while casino revenue remained steady at C$453.7m. The only fall in revenue was reported for the “gaming establishments” segment, which fell by less than 1 per cent to C$485.5m as the government continues to lessen its reliance on video lottery terminals in bars, clubs and bingo halls.

Revenue from Loto-Quebec’s Espacejeux online gambling site was up 32.6 per cent to C$49.3m. Online lottery revenue totalled C$14.4m, a healthy 58.7 per cent year-on-year improvement, while online casino (including poker) revenue improved 24 per cent to slightly less than C$34.9m. Espacejeux’s revenue for Loto-Quebec’s fiscal second quarter was C$27.7m, a healthy 28.2 per cent rise over Q1’s online total.

In July, Quebec’s Superior Court ordered the province to scrap its proposal to force local internet service providers to block the domains of Espacejeux’s internationally licensed competitors. This plan was part of the province’s controversial Bill 74, which was approved in 2016.

 

Source: CalvinAyre

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