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NeoGames Announces Second Quarter 2021 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 it’s financial results for the second quarter ended June 30, 2021.

Moti Malul, Chief Executive Officer of NeoGames, said: “We are increasingly encouraged by the performance and development of the various markets and customers we support, notwithstanding expected seasonal impacts during the quarter. In particular, this quarter has seen continued strong growth in Alberta, where new gaming verticals were added, as well as further expansion of our games content into new markets and customers with contracts in Ukraine and Italy, which prove the market leading position of our offering.”

“Our substantial growth and strong performance over the past year gives us confidence that we are well positioned to maintain our position as the premier innovator and provider of iLottery solutions to the global lottery industry. As we continue to prove the effectiveness of our offering in engaging and maintaining players as well as enabling state and local governments to generate more revenue they can deploy for public benefit. We are proud and honored that our achievements are recognized by the industry, demonstrated by our recent win of the EGR B2B Awards as the Best Lottery Supplier for 2021. We are confident that we will continue to be the first choice for both full-service offerings and content relationships as additional jurisdictions see the value iLottery can offer.”

Second Quarter 2021 Financial Highlights

  • Revenues were $12.9 million during the second quarter of 2021, compared to $13.0 million during the second quarter of 2020, representing a decrease of 0.6% year-over-year. In addition, the Company’s share of NPI revenues was $8.5 million during the second quarter of 2021, compared to $1.6 million during the second quarter of 2020, representing an increase of 434% year-over-year. The total of revenues and the Company’s share of NPI’s revenues was $21.4 million during the second quarter of 2021 compared to $14.6 million during the second quarter of 2020, representing an increase of 47.0% year-over-year.
  • Comprehensive income was $2.8 million, or $0.11 per share, during the second quarter of 2021, compared to comprehensive income of $2.4 million, or $0.11 per share, during the second quarter of 2020.
  • Adjusted EBITDA was $8.3 million during the second quarter of 2021, compared to an Adjusted EBITDA of $7.8 million during the second quarter of 2020, representing an increase of 6.6% year-over-year.1
  • Network NGR was $187 million during the second quarter of 2021, compared to $112 million during the second quarter of 2020, representing an increase of 67.2% year-over-year.1

__________________
1 Adjusted figures represent non-IFRS information. See “Non-IFRS Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable IFRS numbers.

Second Quarter 2021 Business Highlights

  • Performance in Alberta has continued to exceed expectations during the province’s third live quarter. A successful launch of draw games and growth in existing and new players continue to drive the customer.
  • Signed contract with Lottomatica in Italy to provide its successful eInstant games portfolio.
  • Subsequent to quarter-end, signed contract to enter the Ukrainian market through a deal with Ukrainian National Lottery UNL, illustrating the international appeal of our content.
  • Chosen as the 2021 EGR B2B Award winner for Best Lottery Supplier.
  • Appointed Christopher G. Shaban, a senior lottery industry professional, as EVP Sales, Marketing and Customer Development.
  • Subsequent to quarter end, launched Multi-Game progressive jackpot for eInstants.

Guidance

The Company is raising its fiscal year 2021 Revenue and Share in NPI Revenues Interest Guidance to between $75 million and $79 million, compared to the prior range of between $73 million and $77 million.

Conference Call & Webcast Details

NeoGames will host a live conference call and audio webcast on Thursday, August 12, 2021 at 8:30 a.m. Eastern Time, during which management will discuss the Company’s second 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 8593557.

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 shortly after the call.

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ComplianceOne Group joins forces with EM Group for full scope compliance services

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ComplianceOne Group and EM Group have announced a new strategic partnership to provide end-to-end support for all iGaming compliance needs. Through this collaboration, the two experts will be able to offer their clients a complete suite of tailored technical and corporate solutions.

Both partners have an excellent and longstanding reputation when it comes to offering security and innovation. ComplianceOne Group has shown themselves to be unbeatable on the technical aspects of regulatory compliance, whereas EM Group has over 15 years of global success in providing corporate and licensing services. As a team, they are dedicated to empower their clients by providing a one-stop-shop solution for all their compliance necessities.

“We are excited to join forces with EM Group to enrich our offerings in the iGaming sector,” said Antonio Zanghi, CEO of ComplianceOne Group. “Their dedication to client success and expertise perfectly aligns with our goal of providing innovative compliance solutions tailored to the specific needs of iGaming companies. Together, we are committed to delivering unmatched value and end-to-end support to our clients.”

Stefan Sluijter, Global Co-Head at EM Group, expressed his enthusiasm for the collaboration by stating that EM Group is thrilled to collaborate with ComplianceOne Group in this strategic partnership. “We see this as the next step in our compliance services. By combining our expertise and resources, we can offer our clients even more comprehensive solutions to help them navigate the iGaming regulatory landscape,” asserted Sluijter. “Together with the ComplianceOne Group team we are committed to support our clients’ success and the industry’s growth.”

 

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ZEAL Ventures leads financing round of prize draw platform DAYMADE

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  • Ventures division of the ZEAL Group leads 1 million Euro investment round of British prize draw start-up
  • Existing angel investors are also participating in the financing round

 

ZEAL has led a financing round in the successful UK prize gaming platform DAYMADE at a valuation of 12 million Euro via its Ventures division. In addition to ZEAL Ventures, other existing investors – several business angels with decades of experience in the gaming industry – are also participating in the round. DAYMADE will use the new funds to further scale its UK business.

ZEAL Ventures has been invested in DAYMADE since 2019 and has supported the successful British start-up in recent years not only financially, but also through ongoing advisory in areas such as strategy, regulation, marketing and organization.

DAYMADE: A British Success Story

DAYMADE was founded in 2019 with the aim of revolutionizing prize draws. The British start-up offers players the chance to win holidays, unforgettable experiences, and lifestyle prizes, while supporting a good cause.  Through a partnership with Eden Reforestation Projects, a tree is planted with every purchase. With this innovative concept, the company’s offering appeals particularly to a younger generation of adults. Its success is also reflected in the financials: DAYMADE has increased its revenue by nearly 10x in the last four years. This growth has been achieved at sustainable, attractive unit economics (revenue and costs per player). The company also achieved profitability in 2023.

Cooperation with potential

“We are delighted to once again support the DAYMADE team with a significant investment,” says Juliane Gutsmiedl, Investment Manager at ZEAL Ventures. “For several years now, we have been observing a trend towards prize games, which are particularly popular with younger target groups such as millennials and adults in Generation Z. Companies like DAYMADE are therefore significantly contributing to shaping the future of the gaming industry. For this reason, we are delighted to continue our collaboration with DAYMADE and to continue exchanging ideas on a new gaming and entertainment experience.”

“We are thrilled to have ZEAL Ventures on board again”, says Andrew Broekelmann, CEO of DAYMADE. “Their continued support is a huge vote of confidence in our mission to re-imagine prize-based draws for a new generation of players. This funding will fuel our growth and product innovation in the UK. And it doesn’t stop there – as DAYMADE grows, so does our ability to make a real difference. With over 1.3 million trees planted through our charity partners, we’re just as committed to our planet as we are to our players. We look forward to making a greater impact, together.”

 

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ESL FACEIT Group Launches FACEIT League, an Overwatch® Team League Featuring Non-Stop Action for Players of All Skill Levels

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All-new open and inclusive multi-divisional team league offers players more opportunities to compete, with USD $170,000 prize pool and a chance to qualify for the inaugural Esports World Cup

ESL FACEIT Group (EFG), the leading esports and video game entertainment company, today announced the launch of FACEIT League, an Overwatch® team League operated by FACEIT, the world’s leading online platform for competitive gaming. The all-new open circuit invites players of all skill levels across six regions to compete for their chance to win a share of the $170,000 prize pool and secure a seat at top regional slots in the inaugural Esports World Cup (EWC) taking place this summer.

FACEIT League builds on the success of the platform’s long-running Counter-Strike model, which fosters gaming communities through always-on, consistent, and rewarding structured competition and an emphasis on teamwork. An extension of ESL FACEIT Group’s multi-year agreement with Blizzard Entertainment to drive the growth of Overwatch Esports, the new community platform offers players opportunities to go from grassroots play to the world stage.

The response from Overwatch players on FACEIT has exceeded our expectations and illustrates the need for the robust, sustainable structure that we’re building with FACEIT League,” said Warren Leigh, Senior Vice President of Product, Digital Platforms, ESL FACEIT Group. “With over 50 seasons of Counter-Strike experience building some of the most successful grassroots esports ecosystems, having the opportunity to support the Overwatch community with a bespoke program is incredibly exciting.”

FACEIT League will offer multiple seven-week seasons each year, maximizing the number of opportunities for players in North America; EMEA (Europe, the Middle East, North Africa), Oceania, and South America to compete. The circuit caters to all levels of players, from fledgeling first-timers to experienced teams, presenting more opportunities to showcase raw talent and help them practice, improve, and qualify for in-person events with substantial prize pools. The Regular Season 1 takes place from April 29 to June 9, with the winning teams progressing to the Playoffs happening from June 10-23. Teams will then compete for a coveted $170,000 FACEIT League cash prize, as well as higher division promotion and a seat across EMEA, North America, Oceania and South America slots at the Esports World Cup taking place this Summer 2024.

Divisions for each region will be split into Master: Road to Esports World Cup; Expert, Advanced, and Open, with an Advanced division available for players from EMEA and North America. Expert and Advanced divisions will only be accessible via invitation to the top players based on their Elo rating, which starts based on players’ in-game ranks.

Registration for the FACEIT League Season 1 opened on Monday, March 25 at 5PM CET/4PM GMT, and ends on Thursday, April 25 at 5pm CET/4pm GMT. For more details on the FACEIT League structure and prize pool distribution, visit: faceit.com/en/league-pass/ow2

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