Evolution Gaming Reports Positive H1 2020 Results
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.”
XLMedia Partially Disposes Personal Finance Assets for $1.3 Million
XLMedia has announced the part disposal of the Group’s Personal Finance assets for a total cash consideration of $1.3 million (the Disposal). The Disposal comprises domains and websites including Investor Junkie, Greedy Rates and Young and Thifty owned by XLMedia Publishing Limited and Webpals Systems SC Limited, subsidiaries of XLMedia plc. The cash generated from the Disposal will be utilised in the day-to-day operations of the business.
The Disposal is in line with the Company’s strategy to exit non-core activities while focusing on the Group’s Sports and Gaming business, expanding its North American Sports footprint, while also refining and developing the Group’s EU Sports portfolio, and the Group’s Gaming assets in selected markets, including the US.
In the year ended 31 December 2022, the assets relating to the Personal Finance division generated revenues of $1.9 million and EBITDA loss of $1.3 million.
The Personal Finance assets were excluded from continuing operations as disclosed in the Company’s year ended 31 December 2022 results and have no impact on earnings in the current financial year.
Following the sale of these assets to MPD Media, the process to sell the remaining Personal Finance assets is at an advanced stage, but there is no certainty that a transaction or transactions will complete.
IGSA Celebrates 25th Anniversary
The International Gaming Standards Association (IGSA) is celebrating 25 years of its role in support of gaming industry standards.
IGSA president Peter DeRaedt said: “In addition to the many champions and pioneers of our technical standards, we’re also proud and honoured to have featured a keynote video by Trevor Croker, CEO of Aristocrat Leisure, a founding IGSA member, and this week to feature a keynote video address by Rich Schneider, chief product officer of Light & Wonder and another 25-year IGSA member.”
Mark Pace, vice-president of the IGSA, said: “It has been great to see the congratulations and well wishes come in from all over the world from our current and former members, friends and colleagues.
“These companies have joined in celebrating IGSA’s 25-year anniversary through video messages that we have posted on our social media channels and website.
“We invite all our current and past members to join us at our annual meeting celebration and get-together at Canaletto in the Palazzo on October 10 while you’re at G2E.”
Former iGaming Director Unveils Holistic Wellbeing Platform for the Gaming industry
HabitRewire, an industry leader in health and wellbeing for the iGaming sector, announced the debut of its innovative iGaming wellbeing platform. The turnkey white-label wellbeing solution can be accessed at any time, anywhere via a user-friendly app, helping employees across the world improve their wellbeing 24/7, inside and outside the workplace.
Presented as a ready-to-use white-label solution that can be branded as the company’s own, it offers an holistic, wide-ranging, and result-driven wellbeing solution that can be instantly deployed.
The platform draws upon HabitRewire’s ‘Habit Rewiring’ methodology, which is backed by robust scientific evidence. This innovative method is engineered to stimulate sustainable behavioural change, helping employees use daily practices to build the skills and habits to improve their physical health, mental wellbeing, and workplace productivity.
“True health and wellness stretch beyond diet and exercise,” affirmed Leo Judkins, Founder of HabitRewire. “Our platform delivers personalised, comprehensive wellbeing interactions across nutrition, movement, sleep, stress, time management and productivity to help employees reach their goals efficiently and effectively, wherever they are.”
The uniqueness of HabitRewire’s platform lies in its CRM capabilities and unique focus on the iGaming industry, reflecting Judkins’ rich, 12-year experience as a CRM Director in the field. His extensive knowledge from developing marketing automation platforms and managing global marketing teams, combined with personal journey of losing 35kg has directly influenced the creation of the HabitRewire platform.
“We use behavioural data, customer segmentation, and automated lifecycle campaigns to create personalised interactions throughout the employees entire wellbeing journey. From the initial stages of activation, onboarding and engagement, right through to retention and reactivation phases.” Judkins noted.
HabitRewire’s platform incorporates an various features such as weekly challenges, daily check-ins, community chats for peer-to-peer encouragement, leaderboards, workouts, recipe books and lifestyle guides.
Designed with the modern workforce in mind, the platform provides employee with a personalised dashboard that includes training advice, nutrition tips, and recovery strategies. The app allows users to schedule coaching calls with a team of experts that includes certified nutritionists, online personal trainers, sleep coaches, stress management professionals, and behaviour change specialists. Additionally, users can track their progress in real-time and sync their data with wearables and services like Apple Health.
“Most wellbeing solutions aren’t accessible for the employees who need it the most. They simply don’t have the time or energy to participate, which a key part of the problem. Our objective is to help people achieve their health and wellbeing goals, no matter where they are in their journey or what’s going on in their life right now” stated Judkins.
HabitRewire’s innovative platform signifies the shift towards proactive and individual care in the workplace, delivering wellbeing solutions directly to employees’ fingertips, no matter if they work from home or from an office.
Companies using HabitRewire’s platform can expect enhanced performance, increased productivity, and a significantly improved working environment. All quantified in weekly management reports that show measurable results.
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