Connect with us
SIS

Press Releases

Evolution Gaming released its Interim Report for January-June 2018

George Miller

Published

on

Evolution Gaming released its Interim Report for January-June 2018
Reading Time: 3 minutes

Second quarter of 2018 (Q2 2017)

  • Operating revenues increased by 40% to EUR 59.3 million (42.3)
  • EBITDA increased by 36% to EUR 26.2 million (19.2), corresponding to a margin of 44.2% (45.5)
  • Profit for the period amounted to EUR 20.1 million (14.6)
  • Earnings per share amounted to EUR 0.56 (0.41)

January-June 2018 (1H 2017)

  • Operating revenues increased by 35% to EUR 110.8 million (82.0)
  • EBITDA increased by 33% to EUR 48.1 million (36.3), corresponding to a margin of 43.4% (44.2)
  • Profit for the period amounted to EUR 36.7 million (27.4)
  • Earnings per share amounted to EUR 1.02 (0.76)

Events during the second quarter of 2018

  • Favourable demand for new tables, over 500 expected to be live at year-end
  • New customers and preparations for launch of new studio in New Jersey in Q3
  • Live Casino Supplier of the Year for the ninth consecutive year

Evolution interim July

 

Comments from CEO Martin Carlesund:

I am pleased to be able to sum up a quarter with much new progress, both within the framework of ongoing investments, as well as in ongoing customer processing and marketing. Revenue for the quarter amounted to EUR 59.3 million, corresponding to an increase of 40 percent compared with the second quarter of 2017. EBITDA amounted to EUR 26.2 million with a margin of 44.2 percent, an improvement compared with the start of the year.

As this report is being published, the FIFA World Cup has just ended – and the second quarter was largely characterised by the preparations for this major sporting event, with many new tables in our studios, followed by a high level of activity as the tournament began. We see continued favourable demand for tables even after the World Cup, and expect to have a total of more than 500 in operation at the end of the year. Similar to our historical pattern, we are leveraging our size and utilising our expanded resources for optimum efficiency, with each new table being optimised and delivering more over time.

In addition to our focus on the World Cup during the quarter, we made clear progress with our initiative in New Jersey, with several new customer agreements and activities associated with our new studio in that market. The studio is being built to serve several operators and will initially offer 10 tables with Live American Roulette, Blackjack, Baccarat, Three Card Poker, Ultimate Texas Hold’em and Slingshot Auto Roulette. More games and tables will then be released gradually, including dedicated tables for specific operators. The studio in New Jersey is expected to go live in the third quarter this year.

The regulation of the Swedish market is approaching, and we are very proud to have signed agreements after the end of the quarter, gaining the trust to deliver Live Casino services to both Svenska Spel and ATG. We take a positive view of regulation and look forward to continuing to work with both existing and new customers in Sweden’s new gaming market.

Most of our customers are licensed in a limited number of jurisdictions while operating in a global market. In line with our customers’ geographical spread, our global exposure is also increasing. Against this background we provide, in this report, a clearer picture of where our end users are located. We can affirm that the proportion outside Europe is increasing, and that regulated markets account for about one third.

Towards the end of the quarter, we were again honoured to receive the Live Casino Supplier of the Year award at the annual EGR B2B Awards. This is the ninth consecutive year in which we have brought home the award in this category, proving that we are continuing to strengthen our leadership in an increasingly competitive market. I would particularly like to highlight Lightning Roulette as an example of how we are continuously renewing the Live Casino vertical and are at the absolute forefront of development. Since its launch just a few months ago, Lightning Roulette, which is unique to our platform, has become one of the most popular games in the market.

In connection with the EGR B2B Awards, we were also named the Multi-Channel Supplier of the Year, thanks to our cross-border Dual Play product. During the quarter, we signed agreements for a total of five new Dual Play solutions for casinos in both Europe and the US, thereby strengthening our position as the natural partner for land-based casinos seeking to develop their brands online.

With half of 2018 behind us, I can state that we are continuing to deliver on our ongoing mission to continuously extend the gap between us and our competitors. Evolution’s operations are becoming increasingly global, with over ten years’ experience of delivering the best Live Casino services to both pure online operators and land-based casinos in a growing number of markets. I and all of Evolution’s employees look forward to the second half of the year, in which we will continue to create fantastic Live Casino experiences, both for our customers and their end users.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Continue Reading
Advertisement
Comments

Gambling in the USA

Gaming Innovation Group extends Hard Rock’s sportsbook in Iowa

George Miller

Published

on

Gaming Innovation Group extends Hard Rock's sportsbook in Iowa
Reading Time: 2 minutes

 

We found in a new press release that

Gaming Innovation Group Inc. (GiG) has reached an agreement with its partner, Hard Rock International (Hard Rock), to support its market entry with sports betting in the US state of Iowa. The sportsbook will initially launch with an over-the-counter solution on the casino floor at the Hard Rock Hotel & Casino Sioux City in Iowa. This will be followed by the launch of online and mobile sports betting in Iowa, expected in Q4 2019.

In Iowa, Hard Rock will offer a similar seamless and engaging betting experience for its consumers as it has already delivered in New Jersey, with an omni-channel sportsbook solution based on GiG’s modern and flexible technology.

For GiG, this means the Company will be able to leverage its platform in the US adding more scale to its network and revenues to the business. GiG already has the groundwork done in New Jersey after a successful proof of concept suitable and relevant to the American audience.

Iowa is one of the 12 states in the US legalising sports wagering since the US Supreme Court overturned the federal sports wagering ban in 2018. In August this year, the Iowa Racing and Gaming Commission (IRGC) authorised the 19 casinos in the state to offer statewide retail, online and mobile sports betting to consumers aged 21 or over. Iowa has approximately 3.2 million inhabitants and should also benefit with visitors from neighboring states such as Nebraska and Minnesota. It has an estimated mature sports betting market valued at revenues of around $160 million based on the total amount of money wagered by consumers. The tax rate on the sports betting revenue is 7.5%.

GiG expects this agreement to have limited impact on its revenues in 2019, with an increasing contribution from the launch of online and mobile betting in 2020 onwards.

Kresimir Spajic, Senior Vice President of Online Gaming at Hard Rock International says, “We’re excited to extend our partnership with GiG to support sports betting in Iowa, and further grow our sportsbook portfolio.”  

“Offering sports betting through GiG provides our players and guests a new level of engagement – we couldn’t be more thrilled to be launching in Iowa,” Jim Franke, General Manager of Hard Rock Hotel & Casino Sioux City.

Richard Brown, acting Chief Executive Officer of GiG says, “After a successful launch in New Jersey, I am delighted to further deepen the relationship with Hard Rock, delivering on our strategy to grow with our partner by entering a new state in the US with our sportsbook. The agreement is both a testament to our know-how and prowess to lead a land-based casino into the digital world of betting, and a strong validation of GiG’s commercial and product delivery capabilities. We are looking forward to growing with our partner long term. We have mutual ambitions to entertain consumers with a safe and exciting first-class sports betting experience.”

Continue Reading

Industry News

Better Collective invests in Mindway AI; artificial intelligence technology for safer gambling

George Miller

Published

on

Better Collective invests in Mindway AI; artificial intelligence technology for safer gambling
Reading Time: 2 minutes

 

Better Collective has acquired 19,99% of the shares in Mindway AI, who specialises in innovative and advanced software solutions for the identification of at-risk gambling and problem gambling behaviour. The investment aligns Better Collective’s vision to empower iGamers and help establishing an entertaining and safe betting environment.

The world’s leading developer of digital platforms for bookmaker information, tipster communities, and betting tips, Better Collective, has acquired 19,99% of the Danish software company, Mindway AI A/S, for a total price of 4 million DKK. Better Collective will under certain performance-based conditions acquire the remaining shares at a price of 20 million DKK. Furthermore, Better Collective has provided a loan of 4 million DKK to the company.

Provider of early detection and intervention solutions for safer gambling

Mindway AI is an award-winning company that specialises in software solutions that can identify at-risk gambling and problem gambling behaviour among online bettors. Mindway AI’s technology platform is based on neuroscience and artificial intelligence, and the company works with betting operators, platform providers, regulators, and governments to supply state-of-the-art early detection and intervention solutions for safer gambling. The company is a university spin-off by scientists from the Institute for clinical medicine at Aarhus University, among others, Professor Kim Mouridsen who has been instrumental in designing the technological solutions. Mindway AI has been through a start-up phase, it is now entering the commercial phase, and the first products and solutions are already installed and in operation with customers.

With almost 20 years of experience in iGaming, Better Collective is strongly positioned to help push Mindway AI’s technology to key stakeholders of the global betting industry. Joining forces with Mindway AI is well-aligned with Better Collective’s vision to empower online sports bettors and balances its strong dedication towards social responsibility.

Mindway AI will operate as a stand-alone business within the Better Collective Group as the business and products are not directly related to the core business. Better Collective will be represented at the Board of Directors in Mindway AI.

The investment in Mindway AI will not have any effect on Better Collective’s financial targets, and with the current minority interest, it will not be included in the Group Accounts other than the investment and loan itself.

Jesper Søgaard, CEO of Better Collective: “We take our social responsibility very seriously and see this innovative technology as a perfect way to help protect online sports bettors, while at the same time engaging in a business where we foresee a sound future growth and profitability. The great team at Mindway AI has impressed us with their deep and specialised knowledge in combining artificial intelligence with true neuroscience into what we believe is the most promising product offering for the management of problem gambling,  which currently is on the top of the agenda in our industry.”

Svend Aage Kirk, CEO of Mindway AI: “In Better Collective, we have found a strong partner that shares our core values and vision to create a transparent and safe online betting experience. Partnering with the leading sports betting affiliate in the World, we can scale our technology globally. We see this as a win-win opportunity where both parties can enhance the protection for online bettors, while also strengthening our position in the market.”

Continue Reading

Africa

BtoBet and STM Announce Extensive Cross-Channel Partnership with Nigerian Operator

George Miller

Published

on

BtoBet and STM Announce Extensive Cross-Channel Partnership with Nigerian Operator
Reading Time: 2 minutes

 

BtoBet’s Certified Partner for Africa – STM Gaming – is pleased to announce a cross-channel partnership with Nigerian based operator RedsonBet. The partnership will see RedsonBet use BtoBet’s technology to power its online and mobile channels, but also its extensive and constantly expanding retail network, with the number of retail shops expected to climb to 100 outlets in the coming weeks. Focusing on delivering an enhanced user experience to its players, the Nigerian operator will be delivering a diverse portfolio of offerings based on local and international sports betting, including live sports events, online and live casino, jackpots and a range of special bets and virtuals.

STM Gaming’s CEO, Alessandro Pizzolotto, stated that “undoubtedly the WLP Program has proved to be a perfect solution for Africa. Not only does it bring a simplified approach for licensees to enter the local iGaming industry, but the provision of advanced technology tailored to the local technological requirements and the operational support that we provide to our partners are key elements to this success.”

Sabrina Soldà, BtoBet’s Chief Marketing Officer, concurred with Pizzolotto regarding the impact that the White Label Partnership Program had in Africa. “When we embarked on the WLP Program we had in mind coupling localization with deep local knowledge. You can never truly understand the dynamics of the local industries if you are not physically present in the region. This has been the Program’s major strength, with us not being only considered as just technological providers, but a source of information, and knowledge, that is a great asset particularly in a market based on a set of unique circumstances from an infrastructural and regulatory aspect.”

Soldà added that through this approach, BtoBet and its Certified Partners are simplifying the local problematics and providing operators with not only adaptable technology, but the expertise that is key to their success.

 

About BtoBet:
BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained at the forefront in these advanced environments, compared with the more recent gambling industry, allows BtoBet to be visionary with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. Visit our site on: www.btobet.com

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

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