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SciPlay Reports Q4 and Full Year 2019 Results

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SciPlay Corporation has reported its Q4 and full-year results of 2019.

The Q4 revenue was $112.9 million, which included a negative $6.3 million impact from an out of period adjustment recorded during the fourth quarter versus $113.7 million in the prior year period. Mobile revenue was $98.2 million including a negative $2.4 million from the same adjustment.

Net income was $28.6 million including a negative $3.6 million impact from the adjustment mentioned above. Net income margin was 25.3%, up from $18.7 million and 16.4%.

AEBITDA was $32.1 million, including a negative $4.4 million impact from the adjustment mentioned above, an increase of 31.0%, AEBITDA margin, a non-GAAP financial measure defined below, was 28.4%, an increase of 690 bps.

Net cash provided by operating activities was $32.7 million reflecting strong results and includes a $3.0 million payment related to contingent acquisition consideration. Cash and cash equivalents increased $29.3 million to $110.6 million from the third quarter of 2019.

During 2019, revenue grew 11.9% to $465.8 million, beating the market growth rate of 8.1% estimated by Eilers and Krejcik. Full-year revenue included a negative $4.2 million adjustment in the fourth quarter to correct data errors from inception through 2018.

Net income increased $54.5 million to $93.5 million during 2019, which includes a negative $2.3 million impact from the adjustment described above. Net income margin of 20.1%, was up from 9.4%.

AEBITDA was $122.3 million during 2019, including a negative $2.9 million impact from the adjustment described above, an increase of 30.1%, and AEBITDA margin, a non-GAAP financial measure defined below, was 26.3%, an increase of 370 bps.

Net cash provided by operating activities was $93.0 million reflecting strong results and includes $25.2 million of payments related to contingent acquisition consideration. Cash and cash equivalents increased by over $100 million to $110.6 million as of year-end 2019.

Payer conversion rates remained strong at 6.0%. The average monthly revenue per paying user increased 15.3% to $88.06. ARPDAU increased 8.7% from the prior-year period to $0.50. Mobile penetration increased 300 basis points from the prior year to 84%.

Josh Wilson, Chief Executive Officer of SciPlay, said, “We grew our annual revenue by 12%, beating the market growth rate by nearly 1.5 times, and delivered a 30% increase in AEBITDA. We increased ARPDAU 9% to $0.50 and average monthly revenue per payer increased 15% to a quarterly record of $88.06. We believe we are in the very early stages of a multi-year revenue growth and earnings expansion cycle at SciPlay, and we couldn’t be more excited by our future prospects and opportunities.”

Mike Cody, Chief Financial Officer of SciPlay, added, “The strong profitability and cash generation this quarter highlight the strength of our evergreen franchises and business model. We are excited about our organic opportunities as well as the flexibility we have through our balance sheet to explore other avenues of growth.”

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LiveScore Group Announces Internal Restructuring as Part of Sustainable Growth Strategy

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LiveScore Group has announced an internal restructuring process, expected to impact more than 100 existing roles across multiple business locations, including London.

The changes are seen as a difficult yet important step for LiveScore Group, streamlining the business to create improved structures and a pathway to long-term sustainable growth. All impacted employees have been informed and are now subject to a confidential consultation process.

Sam Sadi, CEO of LiveScore Group, said: “On behalf of all Directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people.

“Whilst we celebrate our recent period of significant and exciting growth, we must now future-proof the organisation and ensure our internal structures allow us to achieve long-term and sustainable success.

“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years.”

The announcement follows on from the recent news that LiveScore Malta Limited (part of LiveScore Group) is to withdraw its LiveScore Bet brand from the Netherlands following recent government tax increases in the market. The announcement includes those impacted by this. There will be no other customer impact in respect of any of the remaining LiveScore, LiveScore Bet or Virgin Bet sites globally.

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Pronet Gaming Appoints Alex Karaoulis as its New Commercial & Product Strategy Lead

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Pronet Gaming, an award-winning platform provider of full turnkey solutions, announced the appointment of Alexandros Karaoulis as its new Commercial & Product Strategy Lead.

With over 14 years of experience in the iGaming industry, Karaoulis brings a wealth of knowledge and expertise that will be instrumental in driving the company’s strategic initiatives forward.

Throughout his iGaming career, Karaoulis has held various senior roles with B2B sportsbook and casino providers, as well as with B2C operators. His extensive background in marketing and sales within the iGaming sector positions him as a true industry expert, ensuring that Pronet Gaming remains at the forefront of innovation in a rapidly evolving market.

“I am thrilled to join Pronet Gaming and excited to fulfill my role in developing and executing sales strategies to drive the company’s revenue growth in key markets,” Karaoulis said.

With a track record in commercial strategies and driving product excellence, Karaoulis’ appointment is invaluable as Pronet Gaming now seeks to expand its footprint to Asia. His vision and deep understanding of the iGaming landscape equip him to navigate the unique challenges and opportunities that the dynamic region presents.

“I want Pronet Gaming to lead the iGaming revolution by providing innovative, culturally tailored solutions that cater to the diverse and rapidly growing demands of the region. Through strategic partnerships, cutting-edge technology, and a deep understanding of local markets, we aim to empower operators to offer world-class gaming experiences that engage players and drive sustainable growth,” he added.

According to Karaoulis, Pronet Gaming is poised to make a splash in Asia by leveraging its advanced technology, flexible platform solutions and deep market expertise while adapting to the unique characteristics of the region.

“The key differentiation point of Pronet Gaming is that we have B2C experience, which greatly aids in understanding the needs of operators and helping them to improve and execute their strategy according to the market. I have worked in B2C roles for more than seven years in my iGaming Career and managed campaigns across various channels, optimised conversion funnels, and learned to use data to improve player acquisition and retention,” said Karaoulis.

Karaoulis acknowledges that the marketing skills he has acquired from B2C experience are valuable in every B2B environment. As he dives into his new role at Pronet Gaming, Karaoulis aims to guide his operator clients on how to better market their own sites, including providing them with advice on effective acquisition strategies, content marketing and campaign structures that appeal to iGaming audiences.

“I also focus heavily on engagement strategies, loyalty programs, bonuses, and personalised offers to keep players active and returning. In my new B2B role, I will advise clients on best practices for player engagement, helping them adopt effective loyalty programs, personalised marketing, and retention tactics that drive player lifetime value to improve the end-player experience for our clients’ sites,” Karaoulis added.

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Vbet Wins Best Online Casino Operator 2024 at SiGMA Europe 2024

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Vbet has been crowned the Best Online Casino Operator 2024 at the highly coveted SiGMA Europe event, cementing its position as a leader in the online gaming industry.

This achievement highlights Vbet’s commitment to providing an exceptional user experience by combining cutting-edge technology with a vast range of options and a secure process. The dedication to creating a responsible, enjoyable environment for players was recognised with this award, making this accolade even more significant. As Vbet continue to expand into new markets, the list of strategic partnerships grows alongside our constant drive to expand its offering. This award serves as a stepping stone on its path to reach more players and set new standards in the industry.

Arman Khachatryan, VBET’s Managing Director, said: “We are incredibly proud to receive the Best Online Casino Operator award at SiGMA Europe 2024. This recognition is a testament to the hard work, passion, and effort of our entire team. Our mission has always been to deliver the highest quality experience in the safest environment possible to our users. This award not only recognizes our dedication to this mission but also motivates us to continue expanding into new markets and territories.”

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