Latest News
Ten Square Games S.A. reports Q2 2024 financial results
Despite a challenging market environment, Ten Square Games S.A. (TSG, the Company) reported a stable result with adjusted EBITDA at PLN 27.3 million. The Group’s strong cash generation potential remains a key strength. The Group’s net profit for Q2 2024 amounted to PLN 22 million, reflecting significant improvement both year-on-year and quarter-on-quarter. The Company also made substantial progress in executing its plan to enhance the performance of its main products, Fishing Clash and Hunting Clash, and accelerate the development of Wings of Heroes. Additionally, Rortos has joined the Group’s development initiatives, including the testing of new game prototypes, further increasing the prospects for future growth.
Our Q2 2024 results underscore the strength of TSG’s business model, even in a challenging market environment. The consistent execution of our strategic plan is critical to reversing the Group’s revenue trend, and we are pleased to see the first effects of these efforts in the form of improved revenue dynamics. This remains our top priority in the second half of 2024 as well,” said Andrzej Ilczuk, CEO of Ten Square Games S.A. At the same time, we are intensively working on the development of three game prototypes, which offer us opportunities to expand our reach, attract new players, and explore new business models in the future.
Resilient Financial Performance Amid Market Challenges
In Q2 2024, the Group’s bookings reached PLN 96.2 million, representing a slight decrease of 3.4% compared to Q1 2024. This decrease was primarily due to drops in bookings for Fishing Clash and Hunting Clash, partially offset by growth in Wings of Heroes, which saw an increase in bookings for the third consecutive quarter. The consistent execution of TSG’s strategic plan was evident throughout the quarter, as the company focused on stabilizing its key titles, improving game KPIs, and delivering new features through updates in its main products. The Group made significant progress in advancing two game prototypes, while Rortos, a subsidiary of TSG, also initiated work on its own prototype—all of which are aimed at driving future growth and expanding the company’s portfolio.
Strategic Enhancements Drive Recovery in Key Titles
Fishing Clash, one of the Group’s flagship titles, saw a 2.6% decline in bookings quarter-on-quarter, totaling PLN 59.6 million. However, the implementation of a focused anti-churn strategy, along with numerous technical improvements and changes based on extensive player feedback in the first half of 2024, led to a recovery, with bookings increasing by 6.6% in July compared to June. In the first quarter of 2024, the game introduced a new gameplay mode, ‘Clan Games,’ which was further developed and enhanced throughout the second quarter. Building on this, at the beginning of August 2024, the game was further enriched with the introduction of the ‘Arena’ mode, bringing a new level of excitement to clan competitions. In the following quarters of 2024, the Fishing Clash team will focus on improving the user experience in the game in line with the anti-churn strategy. Planned updates aim to enhance competition-related functionalities and place even greater emphasis on the social aspects of Fishing Clash.
Hunting Clash saw a 6.8% decline in bookings in Q2 2024 compared to the previous quarter. However, the game began to benefit from its most significant update since launch, which paved the way for further development of the game. The team worked on enhancing the game’s technological performance and overall player experience by introducing a new visualization of player progress and time-limited leaderboards. The first positive effects of changes in LiveOps operations are also already evident. Also, the addition of features such as the Materials & Trophy collection significantly boosted player engagement and monetization, resulting in a 12.5% increase in bookings in July, making it the second-best month for the title in 2024.
Wings of Heroes continued its growth trajectory, with bookings increasing by 19.6% quarter-on-quarter in Q2 2024, reaching PLN 3.5 million. The development team focused on improving the matchmaking system for battles in the second quarter of 2024, including the introduction of a featured gameplay mode. Another change allowed players to exchange spare parts for planes for other useful items. Additionally, various technical improvements were made, and three new ad locations were added to the game to increase revenue.
The plans for the coming months are centered on enhancing the social aspect of the game. This includes further development based on squadrons and the introduction of competition between them, with work on this functionality already underway.
In July 2024, bookings in Wings of Heroes amounted to PLN 1.6 million, an increase of 27.1% compared to June this year. This was also the highest result achieved by the game in 2024.
The TSG Store also made significant contributions, with its share of the Group’s total bookings reaching 18.2% in June 2024. The store’s expanding role in the Group’s ecosystem is driving improved financial efficiency, as reflected in the overall positive performance.
Innovative Prototypes Set the Stage for Future Growth
TSG is actively working on two key prototypes—Trophy Hunter and Fishing Champions—targeted at different demographic groups and offering entirely distinct gameplay experiences compared to TSG’s current portfolio. Trophy Hunter has already undergone initial market testing, with insights from these tests used to further develop the prototype and inform work on the second prototype, Fishing Champions. The market test for Fishing Champions was delayed to incorporate solutions based on the feedback and findings from Trophy Hunter’s testing. Additionally, Rortos, a subsidiary of TSG, has joined the Group’s development initiatives by starting work on a new aviation game prototype, which is currently in the very early conceptual stage.
Looking forward, TSG will continue to prioritize the enhancement of its existing titles and testing of new projects. The Group remains committed to leveraging data-driven insights and technological advancements to drive monetization and player engagement. Additionally, the company will maintain its cost discipline and focus on expanding the TSG Store’s impact on overall bookings, contributing to sustained financial efficiency.
EveryMatrix has announced a recommended public offer to acquire all shares in Fantasma Games AB for SEK 59 (€5.21) in cash per share with a total cash consideration of SEK 209.8 million (€18.5m).
Shares in Fantasma Games AB are listed on Nasdaq First North Growth Market Sweden.
The acceptance period for the offer is expected to commence on September 19th 2024 and expire on October 10th 2024.
EveryMatrix is a highly successful global B2B iGaming software provider driven by core products including its proprietary casino platform CasinoEngine that generates record revenues for its customers.
The purchase would significantly strengthen EveryMatrix’s games output with the immediate addition of well-known titles that are integrated with more than 250 operators and played by millions of players across 50 countries.
EveryMatrix is the world’s largest games aggregator via its SlotMatrix aggregation platform with more than 29,000 games across 330+ third-party studios in addition to its own in-house games development within Armadillo Studios.
Fantasma Games is a highly respected games developer with a strong management team and well-established games production and distribution. Fantasma has undergone very strong development and recorded EBITDA of €395k for Q2, a profit margin of 36%. The proposed transaction would strengthen the EveryMatrix games division with strong synergies between both companies.
More than 50% of the Fantasma Games shareholders have signed binding agreements to sell their shares. The bid is conditional on at least 90% of shareholders accepting the offer.
EveryMatrix will issue a further update upon the conclusion of the process.
Relax Gaming, the iGaming aggregator and supplier of unique content, has enhanced its European presence by making its debut in Switzerland with leading operator Grand Casino Luzern and its online platform, mycasino.
This partnership with Relax will see the supplier’s award-winning portfolio of games including Banana Town, Money Train and Wild Chapo now available to Swiss players with more titles to follow.
Founded in 2019, mycasino is operated by Grand Casino Luzern, a renowned casino operator in the heart of Switzerland.
The country’s leading online casino boasts a cutting-edge offering with exclusive titles regularly being added, as well as seamless deposit and withdrawal functionality. With its commitment to safety, innovation, and superior customer experience, mycasino offers a secure and enjoyable online gaming experiences for Swiss players.
The Swiss market marks the twenty-third global jurisdiction that Relax Gaming now operates in after passing the stringent regulatory processes and obtaining approval from Federal Gaming Board (FGB).
This is Relax’s latest step in extending its reach across Europe with further plans to increase its footprint with additional partnerships planned over the continent in the near future.
Martin Stålros, CEO of Relax Gaming, said: “Our continued growth across the globe is something we are all incredibly proud of. The Swiss market presents many interesting opportunities and I believe we have the right content to appeal to the passionate audience.”
Alexia Smilovic Rønde, Chief Regulatory Officer at Relax Gaming, said: “Entering the Swiss market through our prime partnership with Grand Casino Luzern marks another significant step in expanding our presence in high-profile regulated markets.
“Switzerland is truly a staple of European jurisdictions and is known for its high regulatory standards, which we are pleased to have successfully met. We will be looking forward expanding our presence in the coming months.”
Wolfgang Bliem, CEO at Grand Casino Luzern, said: “The partnership with Relax Gaming marks an important step for mycasino.
“Their innovative approach and diverse game portfolio perfectly align with our commitment to maintaining our leadership in the market. We’re thrilled to be the first online casino in the Swiss market to partner with Relax Gaming and continue providing top-tier entertainment to our players.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
Latest News
Peter & Sons Expands Global Reach with Extended Partnership with EveryMatrix’s CasinoEngine
Peter & Sons, the innovative game studio known for its uniquely styled and high-performing video slots, has expanded its global presence by extending its partnership with CasinoEngine, EveryMatrix’s market-leading iGaming productivity platform.
This new deal, facilitated through Peter & Sons’ proprietary platform, will provide EveryMatrix and its clients with access to Peter & Sons’ groundbreaking games, including Barbarossa, Book of Books, DragonBlox, and Sands of Destiny, alongside the studio’s growing portfolio of standout titles.
Founded in 2019 with the mission to embody “the anti-boring,” Peter & Sons has rapidly become a favourite among players and operators across various markets. The studio’s collaboration with world-class artists, mathematicians, and musicians results in some of the most innovative and entertaining games in the industry.
Yann Bautista, Commercial Director and Founder of Peter & Sons, commented: “We’re thrilled to extend our partnership with EveryMatrix, one of the most respected names in the iGaming industry. Their CasinoEngine platform is a content powerhouse, and we’re excited to see our games reach an even broader audience through this partnership. This collaboration is a testament to our commitment to delivering high-quality, engaging content to players worldwide.”
Stian Enger Pettersen, CEO of Casino, EveryMatrix, said: “Peter & Sons’ games are known for their innovative design and captivating gameplay, and we’re delighted to integrate their content into our CasinoEngine platform. With more than 29,000 titles available across our aggregation network, CasinoEngine continues to offer the world’s most extensive games library. We’re confident that Peter & Sons’ titles will be a hit with our clients and their players, and we look forward to a long and successful partnership.”
This partnership with EveryMatrix is the latest in a series of strategic expansions for Peter & Sons, following recent deals with other leading iGaming platforms and operators. Peter & Sons continues to expand its presence across regulated gaming markets, ensuring full compliance with all regulatory standards.
EveryMatrix submits formal bid to acquire Fantasma Games
Relax Gaming partners with Grand Casino Luzern to launch in Switzerland
Peter & Sons Expands Global Reach with Extended Partnership with EveryMatrix’s CasinoEngine
Thunderkick enters Hungary with LVC Diamond brand Vegas.hu
Enteractive Appoints Tim Vinderhall as New Head of Sales to Drive Operator Partnerships
Flows launches groundbreaking pop-up messenger, FlowsWave
Sofascore reveals Player of the Season award winners for season 2023/2024
Scientific Games Advanced Retailer Technology Will Power Sales Lotto Rheinland-Pfalz in Germany
Junglee Rummy Unveils the Grand Winnings Tournament Premiere Series with a 35 Crore INR Guaranteed Prize Pool
ACMA: Young Australians Embrace National Online Gambling Self-Exclusion Register
Entain: Strategic Progress and Trading Momentum Continues into H2 2024
Clemence Dujardin, MyAffiliates Group CEO, to speak at SBC Lisbon to unveil ‘What is Next for the Gambling Industry’
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
St8.io granted Isle of Man licence
Kindred Group extend six-year Middlesbrough FC partnership and cements long-term community commitment to supporters
Andrew Cardno to Speak at Mid-year IGA about Safeguarding Data in AI-Enabled Tribal Casinos
-
Industry News6 days agoEntain: Strategic Progress and Trading Momentum Continues into H2 2024
-
Industry News6 days ago
Clemence Dujardin, MyAffiliates Group CEO, to speak at SBC Lisbon to unveil ‘What is Next for the Gambling Industry’
-
Latest News5 days ago
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
-
Compliance Updates7 days ago
St8.io granted Isle of Man licence
-
Latest News7 days ago
Kindred Group extend six-year Middlesbrough FC partnership and cements long-term community commitment to supporters
-
Industry News6 days ago
Andrew Cardno to Speak at Mid-year IGA about Safeguarding Data in AI-Enabled Tribal Casinos
-
Latest News6 days ago
Gaming Corps Announces the Launch of Expanding Joker
-
Latest News6 days ago
GOLDEN WHALE PARTNERS WITH 1939 GAMES FOR MACHINE LEARNING-POWERED PLAYER INSIGHTS
