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NeoGames Announces First Quarter 2021 Results



NeoGames Announces First Quarter 2022 Results
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NeoGames S.A., a technology-driven provider of end-to-end iLottery solutions, announced financial results for the first quarter ended March 31, 2021.

Moti Malul, Chief Executive Officer of NeoGames, said: “We are pleased to kick off 2021 with a strong first quarter, posting Revenue and Adjusted EBITDA growth of approximately 114% and 148%, respectively. We continue to benefit from our recent launches in Alberta and Virginia, which added to the strong performance across the majority of our markets. Results also benefitted from the double jackpot run in the U.S., which continued into January.

“We believe the iLottery growth experienced over the past year has positioned us well for further success. We are seeing solid player retention rates, allowing us to build off of the momentum from the past year, as the major economies and countries where we operate re-open. These results further demonstrate the strength of our comprehensive offering across technology, games and services, which fuels our ability to drive consistent growth across all our accounts. We also remain confident and convinced of the untapped potential for the iLottery industry across the globe, and particularly in the U.S. where we are the market leader.”

First Quarter 2021 Financial Highlights

  • Revenues were $13.3 million during the first quarter of 2021, compared to $9.1 million during the first quarter of 2020, representing an increase of 46.5% year-over-year. In addition, the Company’s share of NPI revenues was $8.2 million during the first quarter of 2021, compared to $1 million during the first quarter of 2020, representing an increase of 736.5% year-over-year. The total of revenues and the Company’s share of NPI’s revenues was $21.5 million during the first quarter of 2021 compared to $10.1 million during the first quarter of 2020, representing an increase of 113.9% year-over-year.
  • Comprehensive income was $4.0 million, or $0.16 per share, during the first quarter of 2021, compared to loss of $0.9 million, or $0.04 per share, during the first quarter of 2020.
  • Adjusted EBITDA was $9.7 million during the first quarter of 2021, compared to an Adjusted EBITDA of $3.9 million during the first quarter of 2020, representing an increase of 147.9% year-over-year.1
  • Network NGR was $195.8 million during the first quarter of 2021, compared to $68.7 million during the first quarter of 2020, representing an increase of 184.8% year-over-year.1

First Quarter 2021 Business Highlights

  • On February 22, 2021, the Company announced the launch of eInstant games with Austrian Lotteries. This expansion of NeoGames Studio brings a portfolio of successful, market-proven games onto the Austrian Lotteries online gaming site, enhancing the gaming experience with the objective of growing the number of players.
  • In Virginia, the Company continues to observe higher and faster revenue growth rates, fueled by the conversions of players into eInstant games at an accelerated rate post the double jackpot.
  • In Canada, after two full quarters of operations, revenues with our customer in Alberta have exceeded original expectations., which is the only regulated iLottery and iGaming website in the province, continued to perform stronger than anticipated. During the quarter, the Company enhanced the website with the introduction of Live Dealer and is beginning to implement the draw-games vertical with an expanded range of games.
  • A double jackpot run in the U.S. during January led to a significant influx of revenues and players. Those players continue to play on the Company’s platforms and games providing incremental revenue during the first quarter.
  • Continued to roll out new game content, including an innovative Raffle game in Michigan during the first quarter, with plans to further implement across other customers.


The Company is raising its fiscal year 2021 Revenue and Share in NPI Revenues Interest Guidance to between $73 million and $77 million compared to the prior range of between $65 million and $69 million.

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Mischievous betting brand Paddy Power presents an eyebrow raising ‘drama with balls’ after teaming up with creative agency Octagon for their latest ad campaign. 

“Bingoton” was formally rolled out in a fashion befitting the brand’s proverbial bingo debutante today (23rd September).  

Written and art directed by Jonny Watson, Dan Harrison and Neil Richardson of Octagon UK, and directed by Jim Gilchrist of Outsider, the 30-second TVC will get its first showing on ITV this evening during Coronation Street.  

The commercial takes viewers back to the early 19th century, with Miss Bingoton and her lady-in-waiting assessing a selection of ‘gentlemen callers’, cleverly creating a humorous parallel with the perils of modern-day dating.  

According to Josh Green, Executive Director at Octagon, this was the ideal comical conduit to convey the Paddy Power Bingoproposition:  

“In the simplest terms, bingo is drama with balls. That’s how the idea of Bingoton was born.” 

Tom Muldowney, Head of Gaming Marketing with Paddy Power adds:   

“We wanted to make a ballsy ad and Miss Bingoton felt like the perfect leading lady to convey our ‘more chances’ message. That’s with the exception of the Suitor who sent her (Charles) Dickens pix. He remains on the cutting room floor.”    

The advert opens with stunning views of high society types gathering at the palatial grounds of Bingoton Manor. Centre stage is Miss Bingoton, who is joined by her lady-in-waiting and Master of Ceremonies, all of whom eagerly anticipate a parade of potential suitors for her viewing pleasure.   

Suitor Number 10 gets the (bingo) balls rolling. But he’s quickly dismissed by Miss Bingoton who instructs her footmen to “swipe left” on her behalf.   

  Suitor Number 3 is quickly dispatched in an equally decisive manner, having been judged by Miss B to be “catfishing again” after she takes in his dated and unrecognizable profile painting.  

Trying his luck next is Suitor Number 66, a handsome gentleman from Essex who only has eyes for his own reflection.   

“The only way is EXIT,” she giggles under her breath to her lady-in-waiting.  

Paddy Power’s latest campaign comes with all the easter eggs punters have come to expect from the mischievous brand, who manages to marry drama (and balls) to make it a perfect match.   

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Turbo Mode in the Game ‘Mines’ is On – Fasten the Seat Belts



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Classics are eternal, but classics with new improvements are captivating. One of the first
Turbo games has undergone visual and functional changes and has transformed into one
more game Turbo Mines.

The Head of Product at Turbo Games says:

“Visually, this is the successor to the super hit of our classic Mines. We are a young
progressive team that improves our product regularly, but not just observes what works
well. There is no limit to perfection, especially when you can change quickly and
qualitatively to open an even wider potential of Turbo hit.”

What does it mean for the players?

The rules remain the same as in Mines, but some additional features modify the perception
of the interface and the game pace.

Firstly, it is possible to change the game field size: to 3*3, 5*5, 7*7, and 9*9. Such
modification gives a player a chance to work on their strategy and choose the risk rate. So
to say, every round can be absolutely different from all points of view.

Secondly, those players who enjoy speed can experience it in Turbo Mines too. Such a
function enables a player to choose the same pattern for opening the blocks for many
rounds in a row. If a player sticks to the strategy that they believe in, they will win for sure
because dripping water wears away a stone not with its strength but with its constancy.
But there is no need to wait, do it in Turbo mode with Turbo Mines.

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Four Teams Advance to CS:GO Female Tournament at IESF WE Championships



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The International Esports Federation (IESF) concluded a groundbreaking competition for the Female Feature Division CS:GO qualifiers, which saw Indonesia, Poland, Namibia, and Argentina move forward to secure their spot at the World Esports Championships Finals in Bali, Indonesia. The qualifiers were hosted online by IESF, and the finals tournament in Bali will feature a $50,000 total prize pool. Poland and Argentina came out on top of their respective region’s qualifiers.

IESF President Vlad Marinescu said: “IESF is privileged to be able to host its first-ever Female Feature Division CS:GO tournament, a significant step forward for the world of Esports. This event is promoting inclusivity and providing female gamers equal opportunities to succeed on Esports’ biggest stage. IESF is committed to advancing and supporting the role of women in Esports through initiatives like this and our current partnerships with Women in Games and GIRLGAMER Esports Festival. “

IESF Marketing Manager Ana Karakolevska added: “Congratulations to the four female teams for giving us one of the most exciting qualifiers yet, and securing their spot at the first-ever CS:GO World Esports Tournament. IESF is proud to be making advancements in shaping the future of gaming for the entire World Esports Family. We can’t wait to see these skilled teams compete in Bali.”

World-leading Esports club Natus Vincere (NAVI) represented Poland in the qualifiers and will bring some of the world’s best Esports players to Bali to compete for the ultimate prize. The 14th WE Championships will take place from December 1 to 12 with Indonesia, Poland, Namibia, or Argentina looking to be crowned the first female CS:GO tournament winners.

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