Connect with us
SoftSwiss
SIS

Baltics

Enlabs: Interim report January – September 2020

George Miller

Published

on

Enlabs: Interim report January – September 2020
Reading Time: 2 minutes

 

Third quarter: 1 July – 30 September 2020

  • Revenues totalled EUR 13,6 million (10,0), a 35% increase.
  • Organic growth amounted to 10%.
  • Sustainable revenues totalled 80%.
  • Total active customers were 67,320 (37,536), an increase of 79%.
  • Deposits totalled EUR 45.9 million (29.9), a 54% increase.
  • Gaming margin was 4.2% (4.7).
  • EBITDA was EUR 4.03 million (3.11), EBITDA margin was 29.7% (31.0).
  • EBIT was EUR 3.23 million (2.57), EBIT margin was 23.8% (25.6).
  • Net profit totalled EUR 10.29 million (2.57), net profit margin was 75.8% (25.6).
  • EPS increase of 281% to EUR 0.155 per share (0.041).

9-month period: 1 January – 30 September 2020

  • Revenues totalled EUR 30.2 million (28.4), a 9% increase.
  • Sustainable revenues amounted to 86%.
  • Total active customers were 92,883 (58,909), a 58% increase.
  • Deposits totalled EUR 99.3 million (84.28), a 18% increase.
  • Gaming margin was 4.2% (4.7).
  • EBITDA totalled EUR 7.26 million (8.41), EBITDA margin was 24.1% (29.6).
  • EBIT was EUR 5.16 million (6.89), EBIT margin was 17.1% (24.2).
  • Net profit totalled EUR 12.94 million (6.90), net profit margin was 42.9% (24.3).
  • EPS increased 83% to EUR 0.201 per share (0.110).

Events during the period

  • Compulsory bid on Global Gaming.
  • Migration of Optibet Latvia to EnPL.
  • Acquisition of Shogun Group.
  • Ukraine adopted new gaming law.
  • Launched virtual sports vertical.
  • Launched new casino content from Oryx and Leander.

Events after the period

  • Completed the mandatory offer at Global Gaming, reached 95,8% holding.
  • Established legal structure for license application in Ukraine.
  • Launched new casino content from Blueprint, Yggdrasil and Stakelogic.
  • October gaming revenue growth of 86% (organically 17%).

“The Enlabs team is as busy as ever. For the quarter, we steered our core business towards an all-time-high result, finalized the largest strategic acquisition in the group’s history, and made a technological leap by successfully migrating our largest brand to the company’s new gaming platform. Joint effort resulted in a truly transformational quarter. In Q3, Enlabs recorded EUR 13.6 million in revenue, EUR 4.0 million EBITDA and EUR 10.3 million net profit.

Strong business momentum has carried over to Q4 with average daily gaming revenues in October up by 86% (organically 17%) compared to average daily gaming revenue in Q4 2019. We are keeping strong!” Says CEO and Group president George Ustinov.

Baltics

Enlabs Reports Revenue Rise in Q4 2020

Niji Narayan

Published

on

Enlabs Reports Revenue Rise in Q4 2020
Reading Time: < 1 minute

 

Enlabs has reported that revenue for the fourth quarter of 2020 rose 82% to 20.3 million EUR. The uptick was driven by casino revenue with the number of active customers been 77,357, an increase of 88%.

Deposits were EUR 67.0 million, an increase of 99%. The betting margin was 4.7%. Adjusted net profit amounted to EUR 4.8 million.

George Ustinov, President and CEO of Enlabs, said: “We continued to increase the pace after a successful acquisition during Q3 and once again delivered a record quarter. All our markets showed growth between quarters, both in terms of activities and revenues. In our business development, most energy during the quarter was devoted to integrating the Global Gaming team into Enlab’s structure and operational processes.

The result of the integration process is a smoother, more unambiguous and adapted organization with a common business plan. In its team, Enlabs has gained know-how about the Nordic market and a global Pay & Play brand in its portfolio.

This means that I can say with certainty that Enlabs will be relaunched in Sweden in 2021 and the Ninja brand will be implemented in all operating markets. Enlabs has become a more perfect organization focused on two geographical regions with recognized merits, the Baltics and the Nordic countries, as well as our two flagships: the department store concept Optibet and Ninja with the pioneering concept Pay & Play.

Now we can proudly say that we are ONE company – Enlabs.”

Continue Reading

Baltics

Svenska Spel Signs Sponsorship Deal with Swedish Ski Association

Niji Narayan

Published

on

Svenska Spel Signs Sponsorship Deal with Swedish Ski Association
Reading Time: < 1 minute

 

Swedish state-owned gambling company Svenska Spel has signed a new sponsorship agreement with Skidförbundet, the Swedish Ski Association.

Svenska Spel will become the primary sponsor of Skidförbundet for five-years starting on 1 July 2021. The deal is worth just over SEK 125 million and will focus on investing in young talent.

“Svenska Spel has a long-term and large commitment to Swedish sports,” Ola Strömberg, Federal Director of Skidförbundet, said.

“Therefore, it feels very good to continue the collaboration that makes it possible to strengthen the Swedish Ski Association’s all ten branches. In Svenska Spel, we have a partner who will do everything to create the right conditions for our active members,” Ola Strömberg added.

“We are happy and proud to collaborate with the Swedish Ski Association. Skiing and snowboarding are popular and stand for many positive values. Here we find many of our most beloved national teams and athletes,” Patrik Hofbauer, President and CEO of Svenska Spel, said.

“As the country’s largest sports sponsor from grassroots to elite, we want to be involved and contribute to our national team skiers continuing to be successful and enable young talents to develop,” Patrik Hofbauer added.

“It is gratifying to be able to expand the collaboration with Svenska Spel, after getting to know each other for two years,” Karin Mattsson, Chairman of Skidförbundet, said.

“We know that Svenska Spel works hard to get more children and young people moving and on snow, and that is exactly what we and our activists are also passionate about. With a strong partner, we get an even better opportunity to reach out and inspire more people to experience real snow joy,” Karin Mattsson added.

Continue Reading

Baltics

Lithuanian Gambling Supervision Service Clarifies Warning Requirements for Sponsors

Niji Narayan

Published

on

Lithuanian Gambling Supervision Service Clarifies Warning Requirements for Sponsors
Reading Time: < 1 minute

 

The Lithuanian Gambling Supervision Service has clarified the rules around its requirement for a warning in gambling ads and how these rules apply to sponsorships.

In February 2020, the country’s legislature, the Seimas, passed a law that introduced mandatory warnings about gambling-related harm on all gambling advertisements from July 1 that year. The bill was passed by consensus after no objections were raised at its first reading.

The Gambling Supervision Service initially determined that the law did not apply to sponsorships. However this week, a year after the first law was passed, the Seimas passed another law clarifying that certain sponsorships that resemble traditional advertising will be covered.

The Supervision Service has now outlined the exact cases when a sponsorship does and does not require a warning.

It said that warnings are not required where an advertisement is worn on the clothing of a sponsored person or team, nor is it required at an event where the person or team is participating. It is also not required if the name of an event or team is sponsored.

However, the warning is necessary if a message does not refer to a specific event in which a sponsored person or team partakes and the time and place at which the event occurs. It must also exist if the sponsorship message contains more than the brand name and trademarks, particularly if the message includes a mention of the types of gambling services offered.

The regulator also ruled that these deals can only be referred to as “sponsorships,” and not “partnerships” or similar language.

Continue Reading
Advertisement
NSoft
Advertisement
EvoPlay Entertainment
Advertisement
Kasyno Online na HEX Polska

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.