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Stars Group reveals details of their growth opportunities and targets

Niji Narayan

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Stars Group reveals details of their growth opportunities and targets
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The Stars Group has released the details of its growth opportunities and medium-term financial and leverage targets.

The gaming group updated its target range aims for the next three to five years, with annual constant currency revenue growth going up from eight per cent to 12 per cent; adjusted EBITDA margin range in line with 2019 financial guidance; and annual adjusted diluted net earnings per share growth of at least 10 per cent, and leverage of 3.5x or lower.

In a Q1 2019 update, the group stated it expects international segment revenues of around $345 to $355m, with strong underlying growth in most markets offset by certain market closures.

Stars Group CEO Rafi Ashkenazi said: “Looking ahead, we will strive to enhance our leadership positions within the high-growth markets in which we operate, as well as leverage the full suite of assets and capabilities across our businesses to provide what we believe to be the most exciting and engaging gaming experience to our customers.”

“With powerful structural growth drivers in our industry, including a broad trend towards locally licensed online gaming, we believe that as one of the most licensed online gaming operators in the world, with proprietary technology that supports a highly scalable business model with limited capex, we are well-positioned to capitalise on this trend. We are focused on using our competitive advantages to continue to deliver strong organic growth and steady free cash flow generation to support our accelerated deleveraging plans while driving long-term shareholder value.”

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Playzido Signs Distribution Deal With Playtech

Niji Narayan

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Playzido Signs Distribution Deal With Playtech
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Playzido has entered into a distribution deal with Playtech. The deal will enable Playzido to deliver games through the Playtech Games Marketplace.

“Playzido is hugely proud to be working in partnership with Playtech, undeniably one of the world’s leading online gaming brands. The deal will accelerate our reach into strategic key markets and will enable us to distribute our innovative portfolio of games to new audiences. We look forward to a building a long and successful relationship together,” Stuart Banks, Managing Director of Playzido, said.

“We’re delighted to welcome Playzido to the Playtech Games Marketplace. Playzido offers an extensive and innovative games range that will add a further point of differentiation to our platform, and which we know can appeal to licensees and their players in several key markets. This agreement will enable Playtech to further enhance the selection offered via Marketplace and allow Playzido to reach a whole new audience in regulated markets internationally,” James Frendo, Director of Casino at Playtech, said.

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Playtech Launches Live Deal or No Deal – The Big Draw

Niji Narayan

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Playtech Launches Live Deal or No Deal – The Big Draw
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Gambling technology company Playtech has launched its new game “Live Deal or No Deal – The Big Draw.” This bouncing ball game is based on the iconic TV gameshow, Deal or No Deal.

“We’re delighted to be bringing the excitement of one of TV’s most enduring formats to Live. With the addition of the mini draw side game, allowing players to buy multiple tickets with up 6 points of decision making during the game, whether it be to buy more balls or take the bankers offer, Live Deal or No Deal – The Big Draw brings the player a new level of engagement and strategical involvement. For many players, Live play is as much about the experience as it is about gambling, and we’ve seen a growing trend towards gameshow-style formats – which is why we’re so confident Live Deal or No Deal will definitely be a big draw,” Edo Haitin, MD of Playtech Live Casino, said.

“We’re thrilled to be extending our partnership with Playtech through the launch of Live Deal or No Deal – The Big Draw. The in-studio presentation is fantastic and, with the combination of a proven format and innovative elements such as the mini draw, we believe it offers something genuinely unique and entertaining for Live players which aligns with the brand,” Lex Scott, Head of Business Development for Banijay Brands, said.

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888 Holdings Names Jonathan Mendelsohn as its New Chairman

Niji Narayan

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888 Holdings Names Jonathan Mendelsohn as its New Chairman
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Online gambling firm 888 Holdings has named British lobbyist Jonathan Mendelsohn as its next chairman, replacing former chief executive and current chair Brian Mattingley. Mendelsohn will take over the role after Mattingley’s departure at the next annual general meeting in May 2021.

The FTSE-250 firm appointed Mendelsohn as its non-executive director as well, 888 Holdings said, adding that he also joined the board’s remuneration and audit committee.

Mendelsohn is having more than 20 years of industry experience. He previously co-founded Oakvale Capital, which is a leading M&A and strategic advisory boutique focusing on the gaming, gambling and sports sectors.

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