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888’s Profit Declines

Niji Narayan

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888’s Profit Declines
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The Gibraltar-based online gaming company 888 has reported a 66% decline in profits. The reported profit for the first six months of 2019 is US$22.2m, against US$60.1m in the same period last year.

Adjusted EBITDA stood at $41.8m, against $52.4 in H1 2018, with adjusted profit before tax at $27.1m ($42.5m). Basic earnings per share were 5.4c (15.4c).

The revenues during the second half of the financial year to date have been in line with board expectations, with average daily revenue six per cent higher than Q3 2018.

Itai Pazner, CEO of 888, said: “888 has delivered a solid performance in the first half of 2019. The group’s business in the UK has continued its recovery, which was underpinned by exciting product innovation as well as 888’s successful casual customer focus, and further expanded across several regulated European markets including launching its offering in Sweden and Portugal. The group has also completed two acquisitions including the exciting and strategic acquisition of a first-class sports betting platform and team, thereby giving 888 complete ownership for the first time of its technology and product development across the four key online gaming product verticals.

“First time depositors in the group’s B2C business have shown very healthy growth of 20 per cent driven in particular by casino. This very encouraging trend reflects highly effective marketing investment as well as the benefits of Orbit, 888’s latest casino platform, which has delivered strong results in each market where it has been launched.

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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