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Gambling.com Group Updates COVID-19 Impact

Niji Narayan

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Gambling.com Group Approved to Provide Sports Betting Services in Colorado
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Gambling.com Group, a provider of digital marketing services for the global iGaming industry, has provided an update on the impact of coronavirus on its financial and operational performances. The Group has been operating under a work from home policy since 16 March 2020.

The Group expects that the cancellation and/or postponement of major sport events will have a negative impact on revenues from the sports betting segment. Since many major sport events have taken place as planned in the first half of March, the Group is not expecting a significant impact on revenue in March.

The majority of the Group’s business is outside of sports betting. The Group’s largest segment is online casino which is now having a positive trend. So, the Group does not expect the COVID-19 pandemic to have a long-term effect on its business and view the situation as temporary in nature.

At the end of March, the Group implemented further cost reduction measures that will result in ongoing quarterly savings of EUR 0.15 million in addition to a temporary measure for the second quarter which is expected to save approximately EUR 0.3 million.

The company has also provided a trading update for January–February 2020. The total revenue for the period was EUR 2.41 (3.32) million and adjusted EBITDA amounted to EUR 0.39 (1.17) million. Net Interest Bearing Debt (NIBD) amounted to EUR 9.43 (15.19) million at the end of February 2020.

The effects of certain open-market bond purchases disclosed on March 25 will reduce NIBD by EUR 1.43 million. Sports betting revenue during the period accounted for less than 20% of total revenue.

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Stakelogic Enters into Partnership with Iforium

Niji Narayan

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Stakelogic Enters into Partnership with Iforium
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Online slot developer Stakelogic has entered into a deal that will see its entire portfolio of games made available via Iforium’s Gameflex platform.

The partnership provides Stakelogic with rapid distribution into additional regulated markets such as the UK, Spain and Romania, allowing the developer to showcase its incredible portfolio of classic slots and video slots to more operators.

For Iforium, the partnership allows it to add quality, proven content to its game portfolio including hugely popular Stakelogic titles such as Flappers, The Expendables Megaways and just-launched games Runner Runner Megaways and Book of Cleopatra Super Stake.

“We are thrilled to have integrated our full suite of games with Iforium and to be able to leverage its incredible network of operator partners in core regulated markets around the world. Our games are proving to be incredibly popular with players in Europe and other international jurisdictions and as we continue to design and develop even more classic and video slots, we look forward to taking advantage of the increased exposure Iforium provides,” Stephan van den Oetelaar, CEO of Stakelogic, said.

“One of the reasons why so many tier one operators work with Iforium is our unrivalled portfolio of top-quality online slots and casino content. In that regard, Stakelogic is a great addition, bringing with it a suite of chart-topping games. We believe operators in regulated markets around the world will leap at the chance to add Stakelogic titles to their lobbies, allowing them to deliver the best possible experience to their players and to stand out from their rivals,” Phil Parry, CEO of Iforium, said.

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BetConstruct Launches its Latest Live Casino Game “Switch BlackJack”

Niji Narayan

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BetConstruct Launches its Latest Live Casino Game “Switch BlackJack”
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BetConstruct has launched its latest live casino game Switch BlackJack. Since the beginning of the summer, this is the fourth major gaming release for BetConstruct’s Live Casino.

Switch BlackJack tables feature three playing sits per game and two boxes to bet on simultaneously with an option to switch combinations. High-odds side bets for more experienced players are an essential element to the game and additional revenue source.

Between three players per table and two betting boxes per individual, there is a higher level of retention for operators with Switch BlackJack. Regardless of the player experience, this new game with an alternative take on the main concept of BlackJack has a full potential of being more than a one-time thrill.

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Greek Super League Announces Interwetten as its Gold Sponsor

Niji Narayan

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Greek Super League Announces Interwetten as its Gold Sponsor
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The Greek Super League has announced Malta-headquartered sports betting operator Interwetten as its gold sponsor for the next three years, starting with the 2020-2021 season.

The sponsorship represents an evolution of the partnership formed last year, where Interwetten joined the league as its official sports betting partner for the 2019-2020 season.

“We are very pleased that the Super League’s cooperation with Interwetten is now entering a new era, as it is officially the Gold Sponsor of the Super League,” Leonidas Boutsikaris, president of the Super League, said.

He described Interwetten’s “vote of confidence” in the Super League as a key driver of progress and development of football locally, and indicating that a broader strategy to attract more investment and sponsorship was succeeding.

Dominik Beier, representative for Interwetten’s board of directors, described Greece as a very important market for the operator.

“So we want to continue to invest in sports here and expand our position. The naming rights for the Super League championship is the most important sports deal that exists in Greece. The Super League opens up a wealth of opportunities for us, both for communication and action, across the country and throughout the year,” he said.

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