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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.”

Industry News

NOVOMATIC Launches XTENSION LINK Volume 2 at FIJMA

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Leading gaming technology Group NOVOMATIC was an exhibitor at the international trade fair FIJMA from May 7-9, 2024, boasting a stand full of innovative products for the Spanish market. The Group’s local subsidiary NOVOMATIC Spain launched the brand new XTENSION LINK Volume 2, which was the star of the show.

The international gaming trade show FIJMA took place from May 7 to 9 at the IFEMA exhibition centre in Madrid, bringing together a large number of industry leaders. NOVOMATIC showcased an extensive range of products perfected for the Spanish market.

This arcade game was presented in the high performing BLACK EDITION II 1.49J cabinet and attracted a lot of attention from visitors, especially with its GOLDEN SPINS feature which ultimately increases the player’s chances of winning. The XTENSION LINK Volume 2 with its ten thrilling titles, Expanding Reels Feature and Free Games takes the player experience to new heights.

“This cabinet is the result of hard and innovative work that has addressed the needs of our distributors and operators in order to offer a versatile and attractive experience for their gaming establishments,” Jordi Pedragosa, Commercial Director of NOVOMATIC Spain, said.

Other new products on display were the ROYAL LINK, “The Royal Seal for Arcades”, which offers extraordinary quality and excellence for an attractive price, and the NOVO LINE POWER LINK GOLD, which has come to Spain with a revamped and enlarged collection of games. Within this diverse offer for arcades, more powerful models were showcased, such as IMPERA LINK Series 2, CASH CONNECTION Fusion, River Queen Roulette or CLOVER LINK Xtreme, the latter from APEX.

NOVOMATIC’s local subsidiary also presented a wide range of products, exuding a level of freshness and innovation that positively captivated visitors. The section dedicated to the bar segment saw versatility resonating throughout these two new launches: NOVO LINE Supra Cash, with its fascinating games library including three roulette titles and IMPERA Cash Fusion, where Progressive Jackpot titles are combined with IMPERA classics. The second edition of NOVO LINE Power Cash was also shown with a series of new titles. All these models were showcased in the Winner HD+ cabinet, an evolution that features the NV22 bill acceptor. The nearly 1400 m2 of floor space tailored to the company stood out for the excellent way in which the company’s innovative products were staged and presented. Lighting and other decorative elements, fused with cutting-edge technology, played an important role in capturing the attention of visitors, for whom there were plenty of gifts and activities to be enjoyed. Of all the stand’s events, the one that stood out was the “Beat the Champ” event by Chris Mark, world table soccer champion, with whom guests could battle in an exciting duel.

Bernhard Teuchmann, Managing Director of the Product and Technology Division, said: “Participating once again in FIJMA has been a unique experience that has given us the opportunity to strengthen relationships with our customers and show our commitment to innovation. Our most sincere thanks go to all those who worked on preparing and attending this event with the same passion and responsibility that form the essence of who we are.”

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Asia

SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’

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The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region

With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.

In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.

This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.

“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”

Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.

Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.

 

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Industry News

CogniPlay Launches New Social Casino Platform

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CogniPlay has launched its new software product, which aims to provide a robust online sweepstakes or social gaming platform to its clients. The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.

The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification and customer support.

They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.

As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.

CogniPlay’s Chief Executive Officer Allan Turner said: “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.

“Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup. This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”

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