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NeoGames Announces Fourth Quarter and Full Year 2020 Results

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NeoGames and The European Lotteries showcase signed partnership agreement at flagship Marketing event
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NeoGames S.A., a technology-driven provider of end-to-end iLottery solutions, announced financial results for the fourth quarter and fiscal year ended December 31, 2020.

Moti Malul, Chief Executive Officer of NeoGames, said: “We are proud to be reporting our results for the first time as a publicly traded company. The past year was pivotal for NeoGames and the execution of our strategic goals. The year started with a six-year extension of our contract with Sazka, our largest European customer. We built on that momentum with the expansion of our NeoPollard JV customer, the Virginia Lottery, into a full iLottery program that launched on July 1st. Next, we announced the first contract in Canada with AGLC in Alberta. The program launched rapidly in early October and is off to a successful start. We closed the year with the recently announced contract extension with our largest customer, the Michigan State Lottery, through July 2026. 2020 has definitely been transformational for NeoGames.”

“The year also marks positive signs for the growth of iLottery around the world. As regulators realize the potential value iLottery can provide to tightening governmental budgets, particularly during the uncertain times brought on by the COVID-19 pandemic, NeoGames continues to represent a trusted provider with superior technology and premium content driving the most profitable iLottery programs. In the U.S. iLottery market, according to Eilers & Krejcik Gaming, a leading gaming industry research firm, our NeoPollard JV is the market leader with a 70% market share of iLottery sales during the fourth quarter of 2020. Entering 2021, on the back of our successful IPO, we believe NeoGames remains well-positioned to continue to capitalize on the current landscape as a leader in the rapidly expanding global iLottery market,” continued Malul.

Fourth Quarter 2020 Financial Highlights

  • Revenues were $14 million during the fourth quarter of 2020, compared to $9 million during the fourth quarter of 2019, representing an increase of 56.4% year-over-year. In addition, the Company’s share of NPI revenues was $4.5 million during the fourth quarter of 2020, compared to $0.9 million during the fourth quarter of 2019, representing an increase of 391% year-over-year. The total of revenues and the Company’s share of NPI’s revenues was $18.5 million during the fourth quarter of 2020 compared to $9.9 million during the fourth quarter of 2019, representing an increase of 87.3% year-over-year.
  • Comprehensive income was $2.5 million, or $0.11 per share, during the fourth quarter of 2020, compared to loss of $(0.6) million, or $(0.03) per share, during the fourth quarter of 2019.
  • Adjusted EBITDA was $9.0 million during the fourth quarter of 2020, compared to an Adjusted EBITDA of $3.5 million during the fourth quarter of 2019, representing an increase of 160.6% year-over-year.1
  • Network NGR was $142 million during the fourth quarter of 2020, compared to $63 million during the fourth quarter of 2019, representing an increase of 125.6% year-over-year.1

Full Year 2020 Financial Highlights

  • Revenues were $49.2 million for 2020, compared to $33.1 million for the prior year, representing an increase of 48.8% year-over-year. The Company share of NPI revenues was $9.5 million for 2020, compared to $2 million during the prior year, representing an increase of 387.5% year-over-year. The total of revenues and the Company’s share of NPI’s revenues was $58.7 million during the full year of 2020 compared to $35.0 million during the prior year, representing an increase of 67.7% year-over-year.
  • Comprehensive income was $6.5 million, or $0.29 per share, for 2020, compared to loss of $(3.9) million, or $(0.18) per share, for the prior year.
  • Adjusted EBITDA was $28.7 million for 2020, compared to an Adjusted EBITDA of $11.9 million for the prior year, representing an increase of 141.7% year-over-year.1
  • Network NGR was $448 million for 2020, compared to $203 million for the prior year, representing an increase of 120.7% year-over-year.1

Full Year 2020 Business Highlights

  • On November 24, 2020, the Company completed an initial public offering of 5,528,650 ordinary shares, no par value, including 721,128 ordinary shares sold pursuant to the full exercise of the underwriters’ overallotment option. The offering consisted of 2,987,625 ordinary shares offered by the Company and 2,541,025 ordinary shares offered by certain selling shareholders. The ordinary shares were sold at an offering price of $17.00 per ordinary share for an aggregate offering value of $94.0 million.
  • Signed a four-year extension with the Michigan Lottery on the iLottery contract, a joint agreement between Pollard Banknote Limited and NeoGames. Under this agreement, which became effective in December 2020, the contract is extended through July 2026 from the previous end date of July 2022. NeoGames, along with Pollard Banknote, will continue to serve as the Michigan Lottery’s iLottery partner.
  • On July 1, 2020, the Company launched the Virginia iLottery program, which has quickly become one of the most successful launches of a full iLottery program in the United States where in Q4 2020 iLottery represented 25% of total lottery sales according to Eilers & Krejcik. The agreement with NPI also included a significant contract extension of five years to October 2026, with an option for extension to 2031.
  • On September 30, 2020, the Company launched the only regulated gaming website in Alberta, Canada, with NPI servicing the entire online gaming suite for a seven-year initial term and a five-year extension option.
  • Earlier in the year on March 31, 2020, the Company entered into an extension agreement with Sazka a.s as its full-service iLottery and iGaming provider. The new extension lengthened the term of the partnership until the end of December 2025.

Recent Business Highlights

  • On February 22, 2021, the Company announced the go-live of its eInstants games with the Austrian Lotteries, launching the Company’s first set of games on the win2day online gaming site. In connection with the agreement, the Company will grant the Austrian Lotteries (Österreichische Lotterien) full access to its NeoGames Studio extensive portfolio of premium, award-winning eInstant games. The deal will provide Austrian Lotteries players with a steady, ongoing stream of new, unique, and exciting games, enhancing the overall gaming experience offered by the Lottery.

Guidance

The Company expects revenues, together with its NPI revenues interests, for the full year ending December 31, 2021 to be between $65 million and $69 million.

Conference Call & Webcast Details

NeoGames will host a live conference call and audio webcast on Thursday, March 11, 2021 at 8:30 a.m. Eastern Time, during which management will discuss the Company’s fourth quarter results and provide commentary on business performance. A question and answer session will follow the prepared remarks.

The conference call may be accessed by dialing (833) 301-1152 for U.S. domestic callers or (914) 987-7393 for international callers. Once connected with the operator, please provide the conference ID of 5833618.

A live audio webcast of the earnings conference call may be accessed on the Company’s website at ir.neogames.com. The replay of the audio webcast and accompanying presentation will be available on the Company’s investor relations website through 11:59 p.m. Eastern Time on Wednesday, March 17, 2021.

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SOFTSWISS and Evolution Launch Evo Prime Drop Campaign

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SOFTSWISS and Evolution Launch Evo Prime Drop Campaign
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The SOFTSWISS Jackpot Aggregator, a multipurpose gamification system for managing promotional campaigns, launched the Evo Prime Drop campaign in partnership with Evolution Gaming Group AB in March. The Evo Prime Drop aims to enhance player engagement and highlight captivating games integrated with Evolution. 

Evolution is a leading B2B solution provider for casino operators offering live casino, live game shows, slots and more. The Evo Prime Drop leverages Evolution’s extensive portfolio, available through the SOFTSWISS Game Aggregator, to feature premium games from such developers as NetEnt, Red Tiger, and Big Time Gaming (BTG). 

An exceptional aspect of the Evo Prime Drop is its accessibility to casino operators within the SOFTSWISS Game Aggregator network at no extra charge. This arrangement between Evolution and SOFTSWISS supports their partners in enhancing player engagement and retention. 

The campaign’s jackpot prize pool is another highlight, featuring a generous 50,000 euro. The campaign is designed to be inclusive, allowing players to participate with a minimum bet of just 1 euro. The campaign started on 11 March and will conclude on 31 March. 

The prize distribution is thoughtfully structured to maximise the number of winners, with 20 top prizes of 1,000 euro each, 100 prizes of 100 euro, and 400 prizes of 50 euro. This tiered system adds to the appeal of the Evo Prime Drop, making it a highly anticipated event in the online gaming calendar. 

This inaugural campaign, launched in collaboration with a game provider, paves the way for further initiatives for SOFTSWISS Game Aggregator clients. The Jackpot Aggregator’s unique mechanics and the Game Aggregator’s user-friendly settings make the launch seamless and fast.

Aliaksei Douhin, Head of SOFTSWISS Jackpot Aggregator, comments: “We see immense potential in such campaigns because they present a win-win solution for all parties involved. 

Beyond addressing the casino’s primary objective of retaining and attracting players, these mechanics offer providers additional opportunities to promote their games. Furthermore, players gain new experiences, exactly what draws them to us. 

Thanks to the quick and easy launch, we view these campaigns as a positive development for the industry. 

Special thanks to Evolution for their pivotal partnership in Evo Prime Drop. Evolution’s support is instrumental in bringing these gaming opportunities to life, showcasing the strength of collaborative efforts in advancing the gaming industry.”

Nicholas Peters, Chief Business Development Officer Europe at Evolution, adds: “We are excited to partner with SOFTSWISS in the Evo Prime Drop campaign. Collaborating with the expert team behind the Jackpot Aggregator, and given the excellence of SOFTSWISS’ software solutions and the premium games from providers integrated by Evolution, we are confident in the campaign’s success.

We are constantly looking for new technologies and mechanics to maintain a leading position in the market and provide innovative solutions to our customers. We are pleased that our collaboration with the SOFTSWISS Jackpot Aggregator has proven to be mutually beneficial. “

 

About SOFTSWISS 

SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.

 

About Evolution

Evolution Group is a leading B2B provider of online casino content. Evolution’s brands are synonymous with outstanding solutions and the widest choice in the online gaming world. As well as being a world-leader of live dealer gaming with its Evolution and Ezugi brands, the NetEnt, RedTiger, Big Time Gaming and Nolimit City studios produce some of the industry’s most innovative and commercially successful slots. The Digiwheel brand is the developer of the world’s first patented HD spinning gaming wheel, offering opportunities to bring the very best of wheel based online games to land-based casinos. Livespins is an innovative B2B social streaming game provider that enables.

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BetConstruct Introduces 3 New Advanced Services: Zone Solutions, Pro DDOS Protection and Business Dashboard

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BetConstruct, a global leader in iGaming technologies committed to constant progress, has launched 3 services aimed at the high performance and growth of its partners: Zone Solutions, Pro DDOS Protection and Business Dashboard.

These services are precisely crafted to address the diverse needs of BetContruct’s partners providing them with leading-edge solutions to foster success in the competitive world of iGaming.

Zone Solutions

Zone Solutions is an all-encompassing suite of domain management services and solutions tailored specifically for Turnkey partners with domain management on their side to upgrade online operations and handle domain management with ease and confidence. From proactive strategies to meeting regulatory compliance measures, Zone Solutions helps businesses enhance an efficient online presence.

Pro DDOS Protection

Pro DDOS Protection is a comprehensive cybersecurity solution tailored specifically for White Label and Turnkey Partners, with domain management handled on the provider’s side. This leading-edge product is designed to combat Distributed Denial of Service (DDOS) attacks and safeguard web applications. With its instant threat detection, enhanced WAF capabilities, and rapid response, the DDOS mitigation service provides security and reliability of the digital assets of White Label and Turnkey Partners.

Business Dashboard

Business Dashboard is a powerful analytics platform that delivers real-time insights and simplifies gaming business management. This comprehensive tool allows to track key metrics across finances, player acquisition, and website traffic. It helps to optimise casino & sportsbook performance and make data-driven decisions for success.

Embracing these services, partners can confidently navigate challenges, elevate their online operations, and seize opportunities for growth in the dynamic world of iGaming. With BetConstruct as a trusted ally, the future of online gaming holds limitless potential for those who dare to innovate and succeed.

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Booming Games launches another smash hit with Lucky Oasis

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Let your players be transported to a world of opulence and excitement with Booming Games’ latest hit slot – Lucky Oasis.

Lucky Oasis, is a 5×3, 20-payline video slot that has been designed to immerse players into a world full of engaging new features, set against a backdrop of showgirls and the rolling of dice which will have your players quickly feeling like a high roller.

With just 3 or more Scatter symbols, players can unlock up to 12 Free Spins. Additionally, the game’s unique ‘Random Selection’ feature cranks up the excitement further, by providing players with a simple auto-selection mechanism to enhance their overall gaming experience.

However, one of the standout features of Lucky Oasis is its Wild Multipliers, which can substitute for all symbols except the Scatter, with the potential to multiply wins by up to 3,024x.

Moritz Blume, Director of Product at Booming Games commented, “Lucky Oasis is such a great addition to our game portfolio because it’s where two worlds collide. It’s packed full of innovative features that players have come to love about our games, combined with the nostalgic feel of a casino you’d find sheltering under the Nevada sun.

“We love what we do and I think this is mirrored in the games that we release and Lucky Oasis is no exception. We are really excited to see this game go live and it’s impending success.”

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