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Evolution Gaming Reports Positive H1 2020 Results

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Evolution Gaming Reports Positive H1 2020 Results
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Evolution Gaming has reported positive H1 2020 results. The company’s operating revenue increased 48% year-on-year to €243.5 million during H1.

EBITDA also increased by 85% to €145.3 million, corresponding to a margin of 59.7% (47,7), while profit for the period amounted to €124,6 million (63,1) and earnings per share amounted to €0.69 (0.35).

During the second quarter, operating revenues increased by 50% to €128.3 million (85,7), EBITDA increased by 90% to €81,1 million (42,7), corresponding to a margin of 63,2% (49,8). Profit for the period amounted to €70,4 million (34,5) and earnings per share amounted to €0.39 (0.19).

Evolution CEO Martin Carlesund said: “The strong development for Evolution continued during the second quarter. The quarter has been eventful with several product launches and a very high demand, partly due to the lack of sports betting games through a large part of the period, but we also see strong underlying growth. At the end of June, we announced a recommended offer to the shareholders of NetEnt with the aim to expand Evolution’s offering with market-leading slots and to continue towards our vision to become the global leading provider of online casino.

“Revenues for the second quarter amounted to EUR 128.3 million (85.7), an increase of 50 percent compared to the corresponding period last year. EBITDA amounted to EUR 81.1 (42.7) with a margin of 63 percent. The margin has been positively affected by high demand and that we have operated fewer tables due to the pandemic. However, the lower number of tables has had a negative effect on revenue both through lower fees from our dedicated environments and through lower capacity than normal. For the January-June period, the margin was 60 percent, meaning we have a good distance to our previous prediction of improving the margin level this year compared to 2019.

“Evolution’s vision is to become the leading B2B provider in online casino. An acquisition of NetEnt means that we can accelerate the pace towards this vision. To add NetEnt’s leading slots to Evolution’s strong Live Casino offering will create a very strong market position significantly faster, especially in the USA, and together with clear synergies we believe this to be a strategic and highly attractive acquisition. A future Evolution with two verticals as the foundation will increase cash flow and reduce risk, while the growth potential increases. The bid process continues according to the previously announced time schedule.

“During 2020, Evolution has continued and strengthened its focus on products and innovation. Our ability to develop new unique games while at the same time creating new variants of traditional games is important to further strengthen our leading position in Live Casino. So far, we have launched 8 out of the 12 games that we will launch this year. After the end of the quarter, we launched another one – Crazy Time – which is the most expensive and time-consuming game that we have developed to date. The reactions were instant, and we are overwhelmed by the positive reception among both players and operators.

“All new titles, especially in the Game Show category, contribute to a generally higher interest in Live Casino. To meet the increasing demand, it is vital that we continue to expand our studio capacity. Our Pennsylvania studio will be our 9th studio. Upcoming additions include a studio in Michigan and an English speaking studio in Lithuania.

“During the quarter we signed an agreement with Golden Nugget that will see Evolution’s US Live Casino services to be added to their existing online offering in New Jersey. The agreement consolidates Evolution’s leading position in New Jersey, while also providing a strategic platform to explore additional opportunities together with Golden Nugget in other states as the regulation of online casino in the USA continues.

“It has been an intense first half of the year impacted by Covid-19, which has entailed here-and-now problem solving. Since a few months back, we have a more stable virus situation and we have been able to devote more time to look forward while also preparing Evolution for a possible future second wave or similar pandemics. We are now working intensively with next year’s product launches and how Evolution will play a role in the continued digitalisation of the casino industry. I believe that our focus on the best game experiences and a relentless approach to always improve as a company will continue to be important pieces as we move ahead. We shall become slightly better each day, and every day shall take Evolution another step forward.”

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Betway Signs Multi-year Partnership with Playtech

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Betway, one of the leading global brands in online betting and gaming, has signed a new multi-year partnership with gambling technology company Playtech.

Under the strategic partnership, Betway has launched Playtech’s award-winning Live Entertainment products across the UK, Mexico and .com markets — with Casino games to follow in the near future.

With a continued focus on safer gambling, Playtech’s core strategy is to offer long-term sustainability and innovation for operators and a safe, enjoyable environment for players. This agreement is a prime example of Playtech’s commitment to bringing great entertainment value to its partners in both new and established markets.

“We’re proud to be growing our partnership with Playtech, whose Live Entertainment products across a number of markets have already been a hit with our customers. The new games in our agreement will expand upon our existing suite of games to provide new, exciting, and engaging gaming experiences within a safe and secure environment,” Anthony Werkman, CEO of Betway, said.

“Betway’s commitment to the Live Casino vertical demonstrates just how important an entertainment-led experience is becoming for the modern player. Our partnership comes at a time when we are launching more new games with exciting new variants than ever before. We’re delighted to be working with a global brand in online betting and gaming like Betway to deliver an exciting and innovative Live offering for their players,” Said Edo Haitin, CEO of Live Casino at Playtech, said.

“Betway is a key strategic partner for Playtech and a company renowned for delivering an excellent player experience internationally. We are confident that Playtech’s innovative products and services can enhance that experience even further and we look forward to a long and fruitful partnership,” Shimon Akad, Chief Operating Officer at Playtech, said.

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Slotegrator Launches New Platform for Online Casino Operators

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Slotegrator has announced the launch of a new platform that includes a wide range of functions for online casino and sportsbook operators. The product was released on May 16.

The technologies included in the modern microservice architecture of Slotegrator’s new platform have improved the product and provided the company’s customers with a higher level of service by optimising speed, security and stability. The project launch process for operators has been significantly accelerated — a typical launch will take no more than a few days, and the requests of end users, online casino players, will be implemented in the shortest possible time.

The new platform gives the operator more opportunities for integration with various systems, including game content developers, payment services and mobile applications. The user-friendly interface of the back office and intuitive dashboard make the onboarding process as comfortable as possible for operators. The adaptability of the back office for tablets and smartphones is provided for managing projects from anywhere in the world.

Slotegrator’s longstanding clients are already using the product. The features retained from the previous platform have been upgraded. For example, the bonus module has been improved in terms of UI — now it is much easier to create bonuses In addition to modules from the previous platform that were updated and transferred to the new model, the new platform has new tools and modules — in particular:

Casino Builder, which allows the client to make various changes to his gambling site using simple tools. From the back office, the operator can independently build a lobby and fully customise the frontend of his project, making it easier than ever to create its layout by choosing how to display providers, banners, etc. There is also a set of ready-made casino front-end presets for deploying the project in 3 clicks.

The business intelligence (BI) module, which gives the operator access to the site’s analytics, such as key markers like GGR, unique players, marginal profit, and number of active users for a selected period of time — per day, week, month, or year. By comparing performance over different periods and analysing the current situation, the operator can easily make the right strategic decisions and increase productivity. The module is constantly being developed, expanded, and supplemented, providing more and more opportunities for the most effective project management.

A separate KYC module, which helps make the player verification process smoother and more consistent.

The launch of the new platform is an important event for Slotegrator. A number of additional key improvements are planned in the coming months after the launch, which will facilitate the work of all operators. The system is unified — when a developer updates services, customers immediately get access to these updates — so, all operators use a single version of the product.

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Genius Sports Reports First Quarter 2022 Results

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Genius Sports has announced the financial results for its fiscal 2022 first quarter ended March 31, 2022.

Highlights

  • Delivered Group Revenue of $85.9m, outperforming first quarter outlook by 10%.
  • Group Adjusted EBITDA of ($2.9m), exceeding first quarter outlook by 42%.
  • Reaffirmed 2022 Group Revenue and Group Adjusted EBITDA outlook of $340m and $15m, respectively, and 2023 outlook of $430m to $440m and $40m to $50m, respectively.

“Our strong first quarter is a result of successful execution. We began 2022 with a comprehensive Investor Day, outlining our strategic plan and underlying assumptions supporting our financial outlook. Our financial and operational achievements in the quarter demonstrate our ability to deliver on that plan and increase our competitive advantages through unique and proven technology,” Mark Locke, Co-Founder and CEO of Genius Sports, said.

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