Connect with us
SOFTSWISS

Latest News

GiG shortlisted as finalist in International Gaming Awards

Published

on

Reading Time: < 1 minute

 

Gaming Innovation Group has been shortlisted for ‘Technology Provider/Supplier’ for the International Gaming Awards 2021 (IGA), set to take place on 8 September at the Savoy Hotel in London.

The International Gaming Awards are renowned and supported by some of the top industry professionals from around the world. GiG recently gained industry recognition as the Full-service platform of the year at this years’ EGR B2B Awards and was crowned Multi-channel supplier at the SBC Awards in December 2020.

Ben Clemes, CCO and MD of Platform at GiG said: “ I am very proud to have been shortlisted for another award for our platform solutions and service. Thanks to the continuous hard work from everyone at GiG, we can proudly say that we are continuing to gain momentum within the industry as one of the leading iGaming Platform partners within the industry. We look forward to attending the ceremony ”.

Asia

Melco Announces Unaudited Fourth Quarter 2023 Earnings

Published

on

Melco Announces Unaudited Fourth Quarter 2023 Earnings
Reading Time: 7 minutes

 

Melco Resorts & Entertainment Limited, a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023.

Total operating revenues for the fourth quarter of 2023 were US$1.09 billion, representing an increase of approximately 224% from US$337.1 million for the comparable period in 2022. The increase in total operating revenues was primarily attributable to the improved performance in all gaming segments and non-gaming operations following the relaxation of COVID-19 related restrictions in Macau in January 2023 and the opening of Studio City Phase 2.

Operating loss for the fourth quarter of 2023 was US$94.4 million, compared with operating loss of US$199.5 million in the fourth quarter of 2022.

Melco generated Adjusted Property EBITDA(1) of US$303.4 million in the fourth quarter of 2023, compared with negative Adjusted Property EBITDA of US$6.8 million in the fourth quarter of 2022.

Net loss attributable to Melco Resorts & Entertainment Limited for the fourth quarter of 2023 was US$156.6 million, or US$0.36 per ADS, compared with US$251.9 million, or US$0.57 per ADS, in the fourth quarter of 2022. Net loss attributable to noncontrolling interests was US$20.8 million and US$42.1 million during the fourth quarters of 2023 and 2022, respectively, all of which were related to Studio City, City of Dreams Manila, and City of Dreams Mediterranean and Other.

Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “Macau continues to demonstrate its extraordinary growth potential and has shown resilience despite China’s uncertain macro-economic outlook. Visitations to Macau during this month’s Chinese New Year holiday period were close to 2019 levels and the number of visitors from China exceeded 2019.

“2023 was a year of post-pandemic recovery and the debut of our new developments, including City of Dreams Mediterranean and Studio City Phase 2. 2024 is set to be another exciting year for us as we continue to develop new ideas and strategies to bring market leading leisure and entertainment offerings to our customers.

“As part of our initiatives to ensure Melco is leading the market in all areas of our business, we are making changes to management in Macau and bolstering the leadership team. We expect these changes will strengthen us as a team to secure a stronger and more competitive future.

“City of Dreams Manila in the Philippines has continued to show solid growth with significant market share gains in mass table games and slots. City of Dreams Mediterranean in Cyprus continues to be impacted by the conflicts in the region but is starting to show some signs of recovery so far this year.”

City of Dreams Fourth Quarter Results

For the quarter ended December 31, 2023, total operating revenues at City of Dreams were US$559.8 million, compared with US$139.2 million in the fourth quarter of 2022. City of Dreams generated Adjusted EBITDA of US$166.2 million in the fourth quarter of 2023, compared with negative Adjusted EBITDA of US$7.8 million in the fourth quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in all gaming segments and non-gaming operations.

Rolling chip volume was US$5.19 billion for the fourth quarter of 2023 versus US$850.4 million in the fourth quarter of 2022. The rolling chip win rate was 2.55% in the fourth quarter of 2023 versus 4.47% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85%-3.15%.

Mass market table games drop increased to US$1.44 billion in the fourth quarter of 2023, compared with US$292.2 million in the fourth quarter of 2022. The mass market table games hold percentage was 31.6% in the fourth quarter of 2023, compared with 29.2% in the fourth quarter of 2022.

Gaming machine handle for the fourth quarter of 2023 was US$957.4 million, compared with US$194.7 million in the fourth quarter of 2022. The gaming machine win rate was 3.1% in the fourth quarter of 2023 versus 4.5% in the fourth quarter of 2022.

Total non-gaming revenue at City of Dreams in the fourth quarter of 2023 was US$80.1 million, compared with US$30.5 million in the fourth quarter of 2022.

Altira Macau Fourth Quarter Results

For the quarter ended December 31, 2023, total operating revenues at Altira Macau were US$33.6 million, compared with US$9.0 million in the fourth quarter of 2022. Altira Macau generated Adjusted EBITDA of US$0.3 million in the fourth quarter of 2023, compared with negative Adjusted EBITDA of US$9.5 million in the fourth quarter of 2022. The year-over-year change in Adjusted EBITDA was primarily a result of better performance in the mass market segment and non-gaming operations.

In the mass market table games segment, drop was US$149.0 million in the fourth quarter of 2023 versus US$31.9 million in the fourth quarter of 2022. The mass market table games hold percentage was 23.8% in the fourth quarter of 2023, compared with 20.6% in the fourth quarter of 2022.

Gaming machine handle for the fourth quarter of 2023 was US$87.8 million, compared with US$40.8 million in the fourth quarter of 2022. The gaming machine win rate was 3.2% in the fourth quarter of 2023 versus 3.0% in the fourth quarter of 2022.

Total non-gaming revenue at Altira Macau in the fourth quarter of 2023 was US$5.3 million, compared with US$2.1 million in the fourth quarter of 2022.

Mocha and Other Fourth Quarter Results

Total operating revenues from Mocha and Other were US$28.7 million in the fourth quarter of 2023, compared with US$19.5 million in the fourth quarter of 2022. Mocha and Other generated Adjusted EBITDA of US$6.0 million in the fourth quarter of 2023, compared with Adjusted EBITDA of US$1.8 million in the fourth quarter of 2022.

Mass market table games drop was US$49.6 million in the fourth quarter of 2023 versus US$21.0 million in the fourth quarter of 2022. The mass market table games hold percentage was 14.8% in the fourth quarter of 2023 versus 19.7% in the fourth quarter of 2022.

Gaming machine handle for the fourth quarter of 2023 was US$493.0 million, compared with US$372.7 million in the fourth quarter of 2022. The gaming machine win rate was 4.6% in the fourth quarter of 2023 versus 4.2% in the fourth quarter of 2022.

Studio City Fourth Quarter Results

For the quarter ended December 31, 2023, total operating revenues at Studio City were US$302.5 million, compared with US$43.4 million in the fourth quarter of 2022. Studio City generated Adjusted EBITDA of US$77.3 million in the fourth quarter of 2023, compared with negative Adjusted EBITDA of US$25.3 million in the fourth quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in the mass market segment and non-gaming operations.

Studio City’s rolling chip volume was US$566.0 million in the fourth quarter of 2023 versus US$251.4 million in the fourth quarter of 2022. The rolling chip win rate was 1.86% in the fourth quarter of 2023 versus 2.70% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85%-3.15%.

Mass market table games drop increased to US$864.1 million in the fourth quarter of 2023, compared with US$113.5 million in the fourth quarter of 2022. The mass market table games hold percentage was 30.0% in the fourth quarter of 2023, compared with 27.1% in the fourth quarter of 2022.

Gaming machine handle for the fourth quarter of 2023 was US$778.3 million, compared with US$124.5 million in the fourth quarter of 2022. The gaming machine win rate was 3.2% in the fourth quarter of 2023, compared with 2.7% in the fourth quarter of 2022.

Total non-gaming revenue at Studio City in the fourth quarter of 2023 was US$65.3 million, compared with US$9.6 million in the fourth quarter of 2022.

City of Dreams Manila Fourth Quarter Results

For the quarter ended December 31, 2023, total operating revenues at City of Dreams Manila were US$120.5 million, compared with US$95.2 million in the fourth quarter of 2022. City of Dreams Manila generated Adjusted EBITDA of US$48.8 million in the fourth quarter of 2023, compared with Adjusted EBITDA of US$23.6 million in the comparable period of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in the mass market segment and non-gaming operations.

City of Dreams Manila’s rolling chip volume was US$416.5 million in the fourth quarter of 2023 versus US$940.7 million in the fourth quarter of 2022. The rolling chip win rate was 3.97% in the fourth quarter of 2023 versus 1.84% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85%-3.15%.

Mass market table games drop increased to US$198.2 million in the fourth quarter of 2023, compared with US$148.2 million in the fourth quarter of 2022. The mass market table games hold percentage was 29.1% in the fourth quarter of 2023, compared with 31.9% in the fourth quarter of 2022.

Gaming machine handle for the fourth quarter of 2023 was US$1.08 billion, compared with US$1.02 billion in the fourth quarter of 2022. The gaming machine win rate was 5.3% in the fourth quarter of 2023 versus 4.7% in the fourth quarter of 2022.

Total non-gaming revenue at City of Dreams Manila in the fourth quarter of 2023 was US$30.3 million, compared with US$24.5 million in the fourth quarter of 2022.

City of Dreams Mediterranean and Other Fourth Quarter Results

The Company operates three satellite casinos in Cyprus in conjunction with City of Dreams Mediterranean.

Total operating revenues at City of Dreams Mediterranean and Other for the quarter ended December 31, 2023 were US$47.3 million, compared with US$28.7 million in the fourth quarter of 2022. City of Dreams Mediterranean and Other generated Adjusted EBITDA of US$4.7 million in the fourth quarter of 2023, compared with Adjusted EBITDA of US$10.5 million in the fourth quarter of 2022.

Rolling chip volume was US$6.4 million for the fourth quarter of 2023 versus US$1.1 million in the fourth quarter of 2022. The rolling chip win rate was negative 8.85% in the fourth quarter of 2023, compared with 16.43% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85% – 3.15%.

Mass market table games drop was US$87.6 million in the fourth quarter of 2023, compared with US$38.0 million in the fourth quarter of 2022. The mass market table games hold percentage was 22.1% in the fourth quarter of 2023, compared with 24.9% in the fourth quarter of 2022.

Gaming machine handle for the fourth quarter of 2023 was US$492.8 million, compared with US$392.4 million in the fourth quarter of 2022. The gaming machine win rate was 5.0% in both the fourth quarters of 2023 and 2022.

Total non-gaming revenue at City of Dreams Mediterranean and Other in the fourth quarter of 2023 was US$13.0 million, compared with US$0.2 million in the fourth quarter of 2022.

Continue Reading

Gaming

Application Start for Gamecity Hamburg Prototype Funding on March 7 – 400,000 Euros for Games from Hamburg and New Diversity Checklist

Published

on

Reading Time: 2 minutes

“In the context of paused federal funding, we are pleased to reliably support game developers in Hamburg once again with up to 400,000 euros with the Prototype Funding 2024. In this funding round, we’re adding a diversity checklist to our application documents to encourage our applicants to examine their own structures and processes while developing. Games are the leading medium of our time and can showcase diverse voices, perspectives, and stories,” comments Dennis Schoubye, Head of Gamecity Hamburg.

Starting this year, answering the diversity checklist is mandatory when applying for Prototype Funding. Applicants’ answers can optionally be used by the awarding committee when evaluating projects. Applicants whose team and/or project enriches the diversity of Hamburg’s games landscape can receive a bonus in the evaluation by the awarding committee. On the contrary, applicants are not disadvantaged in the evaluation process if that is not the case for their team and/or project. The awarding committee consists of Nina Müller (Head of Publishing, Goodgame Studios), Jonas Hüsges (Publishing Director, Daedalic Entertainment), Valentina Birke (Director, Indie Arena Booth), Jens Unrau (Head of the Media and Digital Economy Department of the Hamburg Ministry of Culture and Media) and Dennis Schoubye (Head of Gamecity Hamburg). They will decide on the granted funding after the end of the application phase on the basis of the submitted projects and a subsequent pitch by the applicants.

The Application Process

Eligible to apply for Prototype Funding are: 

  • developers and developer groups
  • or small and medium-sized enterprises (SMEs), 
  • who are based in Hamburg
  • or which relocate their registered office to Hamburg
  • or open a branch office/business location in Hamburg

 A consultation with Gamecity Hamburg is mandatory and is recommended at least two weeks before the submission deadline on April 8, to prepare applicants optimally for their submission. Interested parties please contact [email protected] to arrange an appointment.

Projects funded through the Prototype Funding program

Since the start of the first funding round in 2020, the Prototype Funding has so far supported 26 games projects with more than 1,450,000 euros. Among the funding recipients are, for example, the indie studio Tiny Roar, which received prototype funding in 2022 for its dreamlike world-builder game “Wanderful”. The serious game “Mambio” by neurodactics, an educational game to make arithmetic understandable for primary school children, received the Prototype Funding in 2021 and was able to secure over 1,100,000 million euros in additional federal computer games funding in 2022. The virtual reality game “Crumbling”, in which your own controller becomes an action figure, was part of the first prototype funding round as well and found a strong partner alongside investors in Meta. Crumbling celebrated its successful release in February 2024.

Further funding programs for Hamburg games industry by Gamecity Hamburg

Every year, the Games Lift Incubator supports five teams, developers and start-ups in the development of digital games and projects. In addition to 15,000 euros in start-up funding, the recipients receive a comprehensive coaching and mentoring program featuring international experts as well as workshops and subsequent individual support. The application phase for this year’s Games Lift runs from May 2 to June 10, 2024.

Continue Reading

Gaming

The 2024 BAFTA Games Nominations Host and Panel have been announced!

Published

on

Reading Time: < 1 minute

BAFTA’s team of panellists will announce and discuss the nominations live, give their opinions on the outstanding games we’ve seen from the industry in 2023 and recognise the creative talent who made them.

Lucy James said: “I’m so excited to be returning to host the BAFTA Games Awards nominations stream for the 2024 Games Awards. BAFTA’s commitment to uplifting and celebrating the people who make the games we love is an incredibly important endeavour: now more than ever. 2023 will go down in history as one of the greatest years for video game releases ever, but also for being one of the worst for the industry. Sadly, 2024 looks to be continuing this trend with multiple project cancellations, studio closures, and mass layoffs. It’s important for us to take a moment to band together to recognise the contributions and achievements of our hard-working and talented peers.”

Luke Hebblethwaite, Head of Games at BAFTA, said: “We’re hugely excited to be revealing the nominees for this year’s BAFTA Games Awards and couldn’t be happier than to have five such energetic and knowledgeable voices to lead us through the big moment. I’m looking forward to their lively and insightful reactions and a great conversation as we celebrate the amazing talent, creativity and hard work behind the best games of the year.”

The world’s most prestigious annual celebration of excellence and creative achievement in games, the 20th BAFTA Games Awards, will take place on Thursday 11 April at the Queen Elizabeth Hall, Southbank Centre, London and will be livestreamed on BAFTA’s YouTube, Twitch and X channels at 19.00 BST / 14.00 ET / 11.00 PT.

Continue Reading
Advertisement
Alpha Affiliates
Advertisement

EveryMatrix

Advertisement

Launch your iGaming business swiftly and effortlessly with our comprehensive turnkey solutions

Advertisement

GambleDex

Trending

Get it on Google Play

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

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