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B2B Revenue of Playtech Declines in H1 2019

Niji Narayan

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The B2B revenue of Playtech has declined in H1 2019. This was driven by the Snaitech acquisition. The operator contributed €395.8m in revenue for H1, a significant increase on the €61.3m generated from Playtech’s stake in the business in 2018.

Group revenue for the six months to 30 June 2019 amounted to €736.1m, a 69% year-on-year increase from H1 2018, when the supplier reported revenue of €436.5m. Growth was largely down to increased B2C revenue, which soared 345% to €438.2m.

The Snaitech-driven B2C growth was not matched by Playtech’s core B2B operations, with revenue down 9% year-on-year at €265.5m. The decline was due in part to a 24% drop in casino revenue to €129.8m, offset by growth in B2B sports revenue, which rose 27% to €60.6m.

Playtech’s significant growth in size and scale prompted by the Snaitech deal contributed to a sharp increase in distribution costs, which almost doubled to €492.8m, and administrative expenses, which grew to €78.9m.

A further charge of €4.6m relating to the impairment of other receivables, which left earnings before interest, tax, depreciation and amortisation of €159.8m, up 32.7% year-on-year.

However, Playtech was then hit by significantly increased depreciation and amortisation, as a result of the acquisition of Snaitech. Depreciation increased by 52% to €24.9m, of which €8.8m was incurred through Snaitech. Excluding acquired assets, underlying depreciation increased by 6%.

Based on the H1 figures, Playtech has reiterated its adjusted EBITDA projection for the year of between €390m and €415m and expected B2B and Snaitech to perform well for the remainder of 2019.

Niji Narayan 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. He reports gaming industry headlines from all around the globe.

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Gambling in the USA

Win Technologies USA Installs Wigos in Chickasaw Nation Casinos

Niji Narayan

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Win Technologies USA Installs Wigos in Chickasaw Nation Casinos
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Win Technologies USA has installed its Wigos casino management system in the Ada Gaming Center and Megastar Casino of Chickasaw Nation.

The Ada Gaming Center is a casino located in Ada which offers 355 electronic games and two table games. Ada Gaming also offers a Players Club, Traditions Bar, and an attached Chickasaw Travel Stop.

Megastar Casino is located north of the Oklahoma-Texas border in Willis and offers over 650 electronic games. The casino boasts a Players Club, Kitchen 377, a bar area and is also attached to a Chickasaw Travel Stop.

“These are Win Technologies USA’s first CMS installations with the Chickasaw Nation, and we are honored to be working with this great team of dedicated gaming professionals,” Alex Alemany, President of Win Technologies USA said.

“Win Technologies USA provides us with a scalable, cost-effective casino management system with great technological innovation that doesn’t erode profitability. We are excited for the opportunity to grow our business using the Wigos CMS and look forward to working with Win Technologies USA on future projects,” Scott Emerson Executive Officer of Business Operations in the Chickasaw Nation Department of Commerce said.

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New Gambling Addiction Treatment Centre opens in the UK

Niji Narayan

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New Gambling Addiction Treatment Centre opens in the UK
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NHS has launched the UK’s first gambling addiction service outside of London in Leeds. The service will provide treatment and support for people with severe addictions, complex mental health conditions, impaired social functioning.

The new NHS service, run by Leeds and York Partnership NHS Foundation Trust (LYPFT), is being funded jointly by NHS England and GambleAware. It is part of the NHS Northern Gambling Service, with further facilities in Manchester and Sunderland set to open in early 2020.

“Problem gambling is an addiction which ruins lives for thousands of people and their families. I am determined to do what I can to tackle it. No one’s access to support should depend on where they live, so we are expanding treatment outside of London to help addicts get the support they need to turn their lives around. As part of our NHS Long Term Plan, we will continue to roll out these specialist services across the country and undo the damage caused by gambling and protect our most vulnerable,” Matt Hancock, Secretary of State for Health and Social Care said.

“Our aim is to prevent people getting into problems with their gambling, all the while making sure that those who do develop problems receive fast and effective treatment and support. These new services will play a vital role in making sure those with more serious and complex needs linked to gambling will have quick access to free, fast and effective treatment, wherever they may be. We very much look forward to seeing this clinic open and we would welcome the opportunity to potentially replicate this approach in other areas of the UK in the future,” Marc Etches, chief executive of GambleAware said.

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Gambling in the USA

GAN plc: Internet Gambling Revenue of Pennsylvania Increases in August 2019

Niji Narayan

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GAN plc: Internet Gambling Revenue of Pennsylvania Increases in August 2019
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GAN plc has updated the market following the publication of Internet gaming and Internet sports betting financial information for August 2019 in Pennsylvania, by the Pennsylvania Gaming Control Board (PGCB).

Internet Gaming Win was $6.3 million in August compared to $2.9 million in the prior sequential month, reflecting an increase of 118.6%. Total Internet Sports Wagering Handle was approximately $83.2 million in August compared to $39 million in July. Internet Sports Wagering Gross Revenues for the month of August were $6.3 million compared to $2.9 million in July.

Internet Sports Wagering Gross Revenues may vary from month to month due to the payouts for future events occurring months after the original wager was made and unredeemed winning wagers from prior months will become deductible upon redemption in future months.

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