Casino content developer NetEnt has released its interim report for January–March 2020.
NetEnt reported a 23.9% year-on-year increase in revenue during the first quarter. Revenue for the three months through to 31 March 2020 totalled SEK518.0m, up from SEK418m in the corresponding period last year.
NetEnt slot games were responsible for 90% of all gaming revenue during Q1, compared to 10% from table games. Meanwhile, the UK was its single biggest market, contributing 19% to total revenue, ahead of the Nordic region on 18%.
Comments by Therese Hillman, Group CEO:
“The pandemic outbreak of covid-19 has put the world in an exceptional situation, leaving nobody unaffected. The health and safety of our employees has the highest priority in the NetEnt Group, while we continue to work hard to secure a good development for the Company both in the shorter and longer term. It is difficult to predict the effects of the covid 19-situation on the economy in general and our sector in particular, but we believe that the underlying trend of digitalization in gaming will continue and offer growth opportunities for NetEnt in the future. So far, the financial performance of our business has not been negatively affected by the outbreak of covid-19.
Revenues for the first quarter of the year amounted to SEK 518 (418) million, supported by a strong finish in March and a weaker Swedish krona. On a proforma basis (including Red Tiger in the previous year’s figures), the Group’s total gaming revenues increased by 12 percent in euro compared to the same period in 2019. Most of the growth came from the US and the UK, while developments in Sweden and Norway continued to be negative. Locally regulated markets accounted for 50 percent of Group gaming revenus in the quarter. The largest locally regulated markets for the Group were UK (19 percent of gaming revenues), Italy (8 percent) and USA (7 percent). Sweden accounted for only 6 percent of gaming revenues, which is significantly lower than before the re-regulation of the Swedish market.
To further strengthen competitiveness and increase efficiency, we implemented organizational changes and initiated a full integration with Red Tiger during the quarter. The changes lead to a reduction in the workforce by approximately 120 employees, mainly in Stockholm, and are expected to result in cost savings of SEK 150 million starting in the second half of 2020. This means that we are increasing our estimate of potential synergies from the acquisition to around SEK 250 million annually, including revenue synergies.
Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to SEK 229 (196) million in the quarter, corresponding to a margin of 44.2 (47.0) procent. Earnings were negatively affected by SEK 26 million of restructuring costs related to the integration with Red Tiger.
Red Tiger keeps performing above our expectations with its award-winning games and the expansion to new markets continues. During the quarter, Red Tiger games were launched with customers on the regulated markets in Italy and Slovakia, and with large operators like Svenska Spel in Sweden and Sky in the UK.
Within Live Casino we continue our efforts to strengthen the product. For instance, we increased the number of tables in our studio on Malta and upgraded the user interface for mobile gaming in the quarter. We have had new record levels in the number of players every month since December and we see increasing interest for the product by operators and players.
A strong product pipeline, new regulated market entries and the Live Casino opportunity for NetEnt – combined with Red Tiger’s expansion – puts us in a good position to continue delivering profitable growth in 2020.”
AstroPay Appoints Fayyaz Ansari as CFO
AstroPay has appointed Fayyaz Ansari as its Chief Financial Officer (CFO).
Having worked in finance for over 20 years, Fayyaz brings with him a deep understanding of the global payments industry. Prior to joining AstroPay, he was working at Skrill, NETELLER & Income Access (part of Paysafe Group Plc) as CFO of their digital wallet division and board member of their regulated entities. He will be based in the UK with responsibility for overseeing all aspects of AstroPay’s global financial management and activities.
Fayyaz’s extensive leadership experience includes controllership, treasury, financial planning and analysis, tax restructuring, corporate finance, performance management, M&A and strategic planning. He also managed other aspects of the finance function which includes banking, investments, financial systems and was involved in fundraising as well as coordinating efforts for an exit via a trade sale/ IPO.
“I am delighted to welcome Fayyaz to AstroPay where he will undoubtedly make an immediate impact as we aim to become the world’s leading payments platform. His wealth of experience will be essential in implementing our strategic plans to accelerate growth and position AstroPay for the future. Fayyaz and the team will contribute to our mission of providing financial freedom to millions of people worldwide. He is an excellent addition to the AstroPay team and I look forward to working with him in our journey,” Mikael Lijtenstein, CEO of AstroPay, said.
“I’m thrilled to have the opportunity to join AstroPay as the next step in my career. I am excited about working with a team that is passionate about the business, has a clear strategy and always puts customers’ needs first. With its commitment to global expansion, a strong business model, a focus on diversity and proud history, AstroPay is well positioned for extraordinary growth and impact. I believe the company’s unique value proposition and strong foundation will allow the business to grow and execute its vision of making payments much more accessible to customers around the world,” Fayyaz Ansari, CFO of AstroPay, said.
Casinos Market Growth USD 764861.32 million by 2027
A casino is more of a tourist attraction and indoor amusement zone. It offers services in hotels, restaurants, and shopping malls. The majority of the revenue comes from gambling. Casinos are concentrated in certain regions because gambling is illegal in several parts of the world.
Casinos Market report analysis benefits to shape the competition within the businesses and policies for the competitive environment to improve the possible revenue. The report evaluates key opportunities in the market and plans the factors that are and will drive the progress of the industry. Taking into account earlier growing patterns, growth drivers, and existing and upcoming trends, we also estimate the overall development of the Casinos Research during the forecast period.
In short, the Casinos Market report is helpful for industry players, investors, consultants, business strategists, researchers, and all those who is having any kind of interest or are planning to venture into the Casinos Market in any way. The global Casinos market size was valued at USD 545645.2 million in 2021 and is expected to expand at a CAGR of 5.79% during the forecast period, reaching USD 764861.32 million by 2027.
Casinos Market Segmentation: –
Market segments help decision-makers direct the product, sales, and marketing strategies, and can power your product development cycles by informing how you make product offerings for different segments.
Based on types –
- Gambling Machines
- Gaming Tables
- Online Legal Casino Gaming Services
Based on applications
Market segment by Region/Country including: –
- North America (United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)
- South America (Brazil, Argentina, Colombia, etc.)
- Middle East & Africa (South Africa, UAE, Saudi Arabia, etc.)
Key Players in the Casinos Market: –
- Delaware Park
- Tropicana Entertainment
- Caesars Entertainment
- Harrington Gaming
- Grupo Fobes
- William Hill
- 888 Holdings
- MGM Resorts
- Boyd Gaming
- Galaxy Entertainment
- Penn National Gaming
- SJM Holdings
- Las Vegas Sands
- Dover Downs Gaming & Entertainment
Key Benefits of Casinos Market Research Report:
- Types, applications, regions, and key players covered in the study
- Industry drivers, restraints, and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Casinos Market
- Sales, price, revenue, market share, and growth rate are covered in the report sales channels, distributors, traders, dealers, etc. are covered in the report
Xtremepush Enters into Partnership with Playtech
Xtremepush, the sports betting and gaming industry’s leading player acquisition and retention platform, has partnered with Playtech, the world’s largest supplier of online gaming and sports betting software.
This strategically significant agreement will enable licensees of both solutions to enhance their player communications through personalised, real-time messaging across email, SMS, push notifications and a range of other channels.
As part of this exciting new partnership, Xtremepush becomes a Playtech Certified Partner, underpinned by a deep integration between its multichannel engagement platform and Playtech’s IMS player management system.
For operators, this will allow them to activate player and event data stored within Playtech’s IMS as part of individually relevant engagement campaigns delivered through the Xtremepush platform, creating play-centric engagement.
Seamless integration also allows for advanced personalisation and segmentation, true multichannel player engagement and a full suite of campaign optimisation tools.
“We’re delighted to have built this integration with Playtech, a company that we have long-since admired within the industry. Playtech has a deserved reputation for providing outstanding software solutions and we’re proud to become a certified partner. Our mutual clients are already experiencing the benefits of this collaboration, and we look forward to working closely together over the coming months and years,” Tommy Kearns, CEO at Xtremepush, said.
“Xtremepush is a key provider of multichannel engagement software in the industry. This integration enables our licensees to fully avail of its broad capabilities and deliver personalised acquisition, engagement and retention campaigns, powered by our IMS player management system. We are excited to see how this partnership will develop, and the impact it will have on operators,” Anthony Evans, VP of Products at Playtech, said.
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