Industry News
Catena Media Reports Strong Growth in Q3
Catena Media has announced the preliminary results for the third quarter ahead of the interim report to be published on November 17.
The company reports strong growth in revenue and adjusted EBITDA fuelled by an exceptionally strong US performance, along with an impairment charge arising from a writedown of German and French sports assets.
Revenue in Q3 is estimated at EUR 33.1m (24.9m), up 33% from the same period last year. Revenue from North American iGaming increased by approximately 124% and accounted for 51% of group revenue during the quarter.
Organic growth is estimated at 23%, or 34% excluding the now-regulated German iGaming market, where revenue fell approximately 62% and accounted for 4% of group revenue during the quarter.
Adjusted EBITDA, excluding items affecting comparability, is estimated at EUR 16.0m (12.0m), an increase of 33% and corresponding to a margin of 48%.
Operating profit will be negatively impacted by a non-cash impairment of intangible assets in accordance with IAS 36, resulting in an estimated writedown of EUR 49.4m. EUR 42.8m of the writedown pertains to German sports assets acquired between 2016 and 2018. EUR 6.6m relates to French sports assets acquired in 2018.
The writedown and consequent impairment charge reflect an updated assessment by management of the assetsā expected future earnings in the context of recent regulatory changes in Germanyās iGaming market and overall market conditions. Management regularly assesses expected future earnings in accordance with IAS 36 and may further adjust assetsā amortisation plans. The writedown will have no impact on cash flow.
Catena Media CEO Michael Daly said: āQ3 was an exceptional quarter with September revenue breaking our monthly all-time high. This was the result of our strategic investment in organic development, particularly in North America, and was supported by two recent acquisitions in the United States and the opening of the iGaming market in Arizona. The impairment charge adjusts our European business to new market realities following a review by the management team and our focus on transforming the business to reach maximum potential.ā
Casino Games
BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market
The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Groupās proprietary technology and platform, the launch marks a significant step in the brandās international expansion.
BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Groupās proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.
Gary Fritz, President of MGM Resorts International Interactive, said āWe are thrilled to launch BetMGM in the Netherlands and build on BetMGMās successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.ā
Gustaf Hagman, Group CEO at LeoVegas Group, said āOur launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.ā
Industry News
“Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming!
PopOK Gaming, a trailblazer in the world of iGaming, is happy to announce the launch of their latest slot game, “Royal Flash.” This classic-style slot game takes players on a fruity escapade, promising an exhilarating journey filled with excitement and grand wins fit for royalty.
Drawing inspiration from traditional fruit machines, “Royal Flash” exudes classic charm with its timeless design and iconic symbols. Set across 5Ć3 reels and featuring 10 paylines, this game is adorned with familiar fruit symbols such as strawberries, cherries, grapes, and the illustrious Seven symbol.
But the real excitement lies in the gameplay – each Wild symbol that graces the reels expands to form a Wild reel, ramping up the intensity and offering thrilling win potential with every spin. Additionally, keep a keen eye out for the coveted gold bar symbol; landing three or more unlocks a prize from any position on the reels, adding an extra layer of thrill to your gaming experience.
Players can expect to bask in the glory of majestic wins, with the opportunity to claim up to 1,500 times their bet in this modernized twist on a retro-inspired classic. Whether you’re a seasoned slot enthusiast or a newcomer to the world of gaming, “Royal Flash” promises an unforgettable adventure filled with excitement, thrills, and the chance to win big!
Experience the Majesty of “Royal Flash” Today!
Industry News
NuxGameās Aggregation Platform shortlisted in EGR B2B Awards
NuxGame, the experienced betting and casino software provider, has been recognised at this yearās EGR B2B Awards, receiving a nomination for its Aggregation Platform.
The EGR B2B Awards is one of the most esteemed events in the industry and this shortlisting solidifies NuxGameās status as a leading casino software supplier and a one-stop shop for casino operators.
Winners are to be selected by a panel of industry experts ahead of the ceremony at The Roundhouse in London on 13th June.
NuxGameās aggregation platform boasts over 13,600 slots titles from 135 leading providers, which has recently been bolstered thanks to partnerships with the likes of 3 Oaks Gaming, Vivo Gaming and Hacksaw Gaming.
The nomination follows a strong year for the provider, which has made strides in player retention and acquisition tools for its aggregation platform customers with features such as free spins, network tournaments, live streamer promotions and custom thumbnails.
This latest development for NuxGame serves as a testament to its philosophy of staying ahead of the tech curve and harnessing the latest technologies to provide a bespoke and customer-centric service.
Denis Kosinsky, Chief Operating Officer at NuxGame, said: āThe EGR B2B Awards is one of the most important dates in the iGaming calendar, so we are honoured that our leading casino aggregation platform has been shortlisted.
āItās fantastic to be recognised in these prestigious awards, as we are dedicated to delivering the most innovative casino game aggregation platform for our customers.ā
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