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OPAP Reports Good Results for Q3 2019

Niji Narayan

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OPAP Acquires Majority Stakes in Stoiximan
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Greek operator OPAP has reported good results for the third quarter of 2019. In the three-month period, OPAP posted net profits of €48.8 million, representing a 24.5% increase from the €39.2 million in 2018.

Gaming gross revenue (GGR) in the third quarter increased by 6.7% year-on-year based on €393.6 million as a result of strong lotteries’ performance, increased contribution of VLTs and scratch & lottery recovery.

For the first nine months of 2019, net profits totalled €140.6 million, up by 33.6% from the €105.2 million in the same period last year.

“Our financial results for the third quarter further highlight the growth that the OPAP team has achieved, thanks to the investments made and the hard work of recent years. As revenue and profitability grow well compared to 2018, I believe that OPAP continues to benefit from its ongoing transformation. In the third quarter, similar trends were observed to those of the first half of 2019, with strong results in lotteries, dynamic performance in slot machines (VLTs) and continuous improvement in sports betting performance,” Damian Koop, Managing Director of OPAP said.

“With regard to customer relationships, our active online customer base continues to grow on a monthly basis, VLTs and new Tora services. We are now just a few weeks before 2020, the year of the 2020 Vision, as it was originally presented. Until then, we will focus on achieving our goals for the rest of 2019. In this context, we are optimistic that we will successfully achieve our goals for the whole year,” Damian Koop added.

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1X2 Network Integrates its Slots and Table Games with L&L Europe

Niji Narayan

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1X2 Network Integrates its Slots and Table Games with L&L Europe
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1X2 Network has integrated its fun and thrilling slots and table games with L&L Europe and its popular online casino brands.

Players at sites such as All British Casino, Fun Casino, Yako Casino, Hyper Casino and Race Casino will now be able to access chart-topping titles from the developer’s 1X2gaming and Iron Dog Studio subsidiaries.

“We are delighted to see slots and table games from 1X2gaming and Iron Dog Studio land in game lobbies across L&L Europe’s incredible brands including its latest casino offering, Race Casino. Our games have been designed to deliver the most entertaining experience to players while also giving them the chance to win big. Each of our games has something different to offer, starting with the Book of Undead and its horror theme,” Kevin Reid, Chief Commercial Officer at 1X2 Network, said.

“We believe our games will prove to be hugely popular with players across L&L Europe’s brands in markets such as the UK and Sweden and look forward to integrating additional titles under what will be a hugely successful partnership for both parties,” Kevin Reid added.

“We have been wanting to add 1X2 Network to our game portfolio for some time now, so it’s great to see the first in a series of games from 1X2gaming and Iron Dog Studio land in our lobbies for the first time. Its slots and table games are incredible fun to play and boast an impressive production value that our players will love. Of course, the chance to win big is also a huge part of the appeal and for this reason we believe 1X2 Network will become one of our most popular providers. In conjunction with the quality games, 1X2 Network provides players with a seamless, user friendly interface ensuring the games are accessible for all,” Jan Wienk, Marketing Manager at L&L Europe, said.

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Kindred to Acquire Blancas NV from Rank Group

Niji Narayan

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Kindred to Acquire Blancas NV from Rank Group
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Kindred has entered into an agreement to acquire Blankenberge Casino-Kursaal (Blancas) NV from The Rank Group.

Blancas NV is the license holder and operator of the Blankenberge casino, which is one of the nine land-based casinos operating in Belgium. The company is owned by The Rank Group since 1998.

The acquisition price is GBP 25 million on a cash free and debt free basis and will be settled in cash upon completion.

The acquisition demonstrates Kindred’s long-term commitment towards the Belgian market and gives Kindred direct access to one of the nine casino licenses, which allows Kindred to continue to offer a broad offering to its Belgian customers. Blancas NV will be operated as a separate entity within the Kindred Group under the leadership of the current management team led by Dominique De Wilde.

The acquisition is subject to customary regulatory approvals and is expected to be completed in Q4 2020.

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WorldMatch Partners with Versailles Casino

Niji Narayan

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WorldMatch Partners with Versailles Casino
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Online gaming expert WorldMatch has entered into a partnership with the Versailles Casino. As per the deal, WorldMatch will provide content to the extensive network of operators that can access the Versailles platform in the regulated Belgian market.

“We are very pleased to have them as partners and we strongly believe that they will create added value for our company and strengthen our presence in European regulated markets,” Andrea Boratto, Chief Executive of WorldMatch, said.

“We are very excited to be able to be present in the market that the internet represents and we have done it in the best possible way with a partner of choice which promises a fruitful and successful partnership,” Versailles Casino management said.

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