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Sign ups to free casinos is on the rise, particularly in this country

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Esports Entertainment Group to Launch a New Pay-and-play Online Casino Brand in Finland
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If you thought that free casino sign up deals are a thing of the past, you might want to think again.

While lockdown rules are still in place and people are confined to their homes by draconian rules, the time spent online is now much more than ever before. This of course is good for the online casino industry which is seeing its great days.

However, the deals and bonus offers are endless, and it works the following way. After you discovered a promo that comes with an initial free deposit, all you need to do to claim it is to create an account.

Register, provide a code if necessary, and you shall receive your offer. The bonus will be activated as soon as you confirmed the account.

We have browsed online to find where these free casinos have attracted more players and we found the rise of registrations on free casinos in the FIN market (which you can read more about here) has been the most interesting one.

The Finnish gaming industry is one of the fastest growing in the global gaming market with an average growth rate of 45%. In 2016, the Finnish gaming industry set a record-high turnover of 2.5 billion euros. The share of Finnish mobile game development was roughly 7% of the global revenue of 35 billion.

While in 2017 the turnover decreased a bit to 2.36 billion Euros, Finland still remained one of the three biggest game developers in Europe with the gaming revenue being the worlds highest in relation to population.

In Finland, gaming is an old tradition. For decades, Finns had their Saturday ritual. They would have a sauna, then watch the lottery draws on tv. They would never feel bad about losing, because they knew that the gaming proceeds would be channelled to good causes. Things have changed a bit, but gambling, like voting, is still widely considered a civic duty.

Nowadays, around a third of adults gamble every week.

While Finland regulates plenty of online casinos where you can play your favorite casino games online, there are plenty of Finland free online casinos, where you can try free games.

Compliance Updates

Endorphina completes another security milestone!

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Endorphina completes another security milestone!
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Starting 2024 strong, the top casino game provider Endorphina successfully completed the external audit by the renowned Testing Laboratory, achieving another milestone in the form of an ISMS Certificate according to local requirements in Italy! This plays an important role in cementing Endorphina’s position in the iGaming world.

Earlier this year, the iGaming software provider Endorphina successfully passed an external information security audit according to regulations governed by ADM. The goal of the multi-day audit was to map out the overall setup within the company, examine every detail involving security, and ensure the company’s games are completely safe for every player.

Over three years ago, Endorphina set a goal to be authorized in all regulated jurisdictions and continues to campaign across markets. By 2024, the company has reached 28 regulated markets and continues progressing rapidly.
I

n March 2024, Endorphina will organize a grand event, La Mistica dell’Endorphina, where guests can experience the true spirit of the innovative developer. The luxurious party promises to create the perfect networking opportunity for iGaming enthusiasts.

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Codere Online Reports Financial Results for the Fourth Quarter and Full Year 2023

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Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, has released its preliminary unaudited[2] financial results for the fourth quarter and year ended December 31, 2023.

Below are the main financial and operating metrics of the period.

Quarter ended December 31

Year ended December 31

2022

2023

Chg. %

2022

2023

Chg. %

Net Gaming Revenue (EUR mm)1

Spain

17.8  

20.8  

17%

60.0  

75.7  

26%

Mexico

16.3  

25.1  

54%

51.1  

81.7  

60%

Colombia

2.3  

2.3  

7.9  

8.5  

8%

Other

1.3  

1.8  

38%

3.9  

6.0  

54%

Total

37.7  

50.1  

33%

122.9  

171.9  

40%

Avg. Monthly Active Players (000s)[3]

Spain

41.3  

47.4  

15%

38.1  

42.3  

11%

Mexico

50.8  

59.1  

16%

38.5  

52.5  

37%

Colombia

38.5  

23.0  

(40%)

28.7  

24.3  

(15%)

Other

11.2  

9.6  

(14%)

7.9  

9.2  

17%

Total

141.8  

139.2  

(2%)

113.1  

128.3  

13%

 

Aviv Sher, CEO of Codere Online, stated, “In Q4 2023 we delivered an impressive 33% growth in net gaming revenue to €50 million, our highest ever quarterly figure, despite a tough comp with the World Cup in the prior year period. Our strategic focus on Mexico and Spain, where we are seeing a strong return on marketing investment, has proven successful, with significant increases in both our active customer base and spend per customer. Casino continued to exceed our expectations with a second consecutive quarter contributing 58% of total net gaming revenue in the period.”

Mr. Sher further added, “Our net gaming revenue in Mexico grew by 54% in the fourth quarter, reaching more than €25 million, whereas net gaming revenue in Spain, grew by 17%, to nearly €21 million. We were able to grow our active customer base by more than 15% in both markets in the quarter which we believe is impressive considering the similar level of marketing investment in these countries in 2023 versus the prior year.”

Oscar Iglesias, CFO of Codere Online, stated, “Our fourth quarter results have allowed us to reach nearly €172 million of net gaming revenue for the full year, 19% above the midpoint of the initial €140-150 mm outlook we provided early last year. This outperformance, combined with the overall lower level of marketing investment, also allowed us to deliver a better than expected negative €12mm in Adjusted EBITDA versus the initial outlook of negative €20-30mm.”

Mr. Iglesias further added, “We are very encouraged by our performance in 2023 which further supports our expectation that we will generate positive Adjusted EBITDA and cash flow for the full year in 2024, a year in which we expect net gaming revenue of €185-200 mm. In short, we expect to deliver upon our original commitment to investors to be a profitable company in the third year after de-SPAC and are more committed than ever to creating meaningful value for our shareholders.”

Conference Call Information

Codere Online’s management will host a conference call to discuss the results and provide a business update at 8:30 am US Eastern Time today, February 29, 2024. Dial-in details as well as the audio webcast and presentation will be accessible on Codere Online’s website at www.codereonline.com. A recording of the webcast will also be available following the conference call.

Reconciliation of Revenue (IFRS) to Net Gaming Revenue (non-IFRS)

Quarter ended December 31

Year ended December 31

Figures in EUR mm

2022

2023

Chg. %

2022

2023

Chg. %

Total

Revenue

35.6  

46.9  

32%

115.7  

162.6  

41%

(+) Accounting Adjustments[4]

2.1  

3.1  

48%

7.2  

9.2  

28%

Net Gaming Revenue

37.7  

50.1  

33%

122.9  

171.9  

40%

Spain

Revenue

17.8  

20.8  

17%

60.0  

75.7  

26%

(+) Accounting Adjustments3

     –  

                –  

n.m.

    –  

     –  

n.m.

Net Gaming Revenue

17.8  

20.8  

17%

60.0  

75.7  

26%

Mexico

Revenue

14.5  

22.6  

56%

45.5  

73.3  

61%

(+) Accounting Adjustments3

1.8  

2.5  

39%

5.6  

8.4  

50%

Net Gaming Revenue

16.3  

25.1  

54%

51.1  

81.7  

60%

Colombia

Revenue

2.4  

2.8  

17%

7.0  

9.3  

33%

(+) Accounting Adjustments3

(0.1) 

(0.5) 

n.m.

0.9  

(0.8) 

n.m.

Net Gaming Revenue

2.3  

2.3  

7.9  

8.5  

8%

Other

Revenue

0.9  

0.7  

(22%)

3.2  

4.4  

38%

(+) Accounting Adjustments3

0.4  

1.1  

n.m.

0.7  

1.6  

129%

Net Gaming Revenue

1.3  

1.8  

38%

3.9  

6.0  

54%

 

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Realistic Games hatches instant win prizes in Chicken or the Egg

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Casino content developer Realistic Games has answered an age-old riddle in its latest slot release Chicken or the Egg, with instant win potential and features coming first.

This farmyard-inspired title is played across 5×3 reels, with thematic symbols including tractors, hay and farmhouses making up the highest-paying icons. These are joined by a wild which substitutes for all base game symbols allowing players to more easily form wins across 10 paylines.

There are two different scatters, with three or more of each needed to unlock the titular Chicken or Egg bonus round. Within both versions, additional corresponding scatters will grant a variety of instant cash prizes up to 1000x in value, these Chicken or Egg symbols can also transform into each other.

Players can be awarded a retrigger by landing an additional three scatters or unlock the other bonus variant. This will see players having two symbols granting instant cash rewards and will trigger a multiplier up to 10x which will be added to subsequent wins.

Blending a vibrant popular theme with instant cash prizes and a multitude of bonus features, Chicken or the Egg is the latest engaging title from Realistic Games. The launch comes soon after its recent entry into the Dutch market and strengthens a growing portfolio of forward-looking games that deliver player-centric entertainment.

Alice Timson, Head of Account Management at Realistic Games, said: “Chicken or the Egg encapsulates our ambitions as a provider – its multifaceted bonus round will keep players entertained long after its launch window and the fun visuals along with easy to understand but surprisingly deep mechanics will be a draw for new and established slot enthusiasts.

“The slot’s free spin round can be enhanced during play through retriggers and unlocking the opposite bonus which will be played simultaneously providing unique gameplay that we are confident players will enjoy.”

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