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Century Casinos, Inc. Announces Second Quarter 2018 Results

Zoltan Tundik

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COLORADO SPRINGS, Colo.Aug. 8, 2018 – Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and six months ended June 30, 2018.

Second Quarter 2018 Highlights*

  • Net operating revenue was $39.6 million, an increase of 6% from the three months ended June 30, 2017.
  • Earnings from operations were $1.0 million, a decrease of 73% from the three months ended June 30, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders was $0.3 million, a decrease of 82% from the three months ended June 30, 2017.
  • Adjusted EBITDA** was $4.7 million, a decrease of 27% from the three months ended June 30, 2017.
  • Earnings per share were $0.01.
  • Book value per share*** at June 30, 2018 was $6.02.

The consolidated results for the three and six months ended June 30, 2018 and 2017 are as follows:

For the three months

For the six months

Amounts in thousands, except per share data

ended June 30,

ended June 30,

Consolidated Results:

2018

2017

% Change

2018

2017

% Change

Net Operating Revenue

$

39,648

$

37,330

6%

$

80,270

$

73,729

9%

Earnings from Operations

996

3,641

(73%)

4,249

8,133

(48%)

Net Earnings Attributable to Century Casinos, Inc.
Shareholders

$

317

$

1,802

(82%)

$

1,244

$

3,962

(69%)

Adjusted EBITDA**

$

4,661

$

6,412

(27%)

$

11,226

$

13,131

(15%)

Earnings Per Share:

Basic and Diluted

$

0.01

$

0.07

(86%)

$

0.04

$

0.16

(75%)

“This quarter represented an important period for the long-term success of the Company. We opened our casino in Bath, England in May; we laid the foundation of a land-based presence in Asia with our Vietnam project; and we are finally seeing stability in Poland where we now hold eight casino licenses,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We are pleased with the growth of net operating revenue driven by strong performances in Canada, which increased 5% in local currency, and Colorado, which increased 7%,” they continued. “Adjusted EBITDA was lower compared to prior year results due to additional non-recurring expenses related to the licensing situation in Poland and the opening of the casino in Bath,” Haitzmann and Hoetzinger concluded.

Reportable Segment Results*
The table below shows the Company’s operating segments that are included in each of the Company’s reportable segments as of June 30, 2018:

Reportable Segment

Operating Segment

Canada

Century Casino & Hotel – Edmonton

Canada

Century Casino St. Albert

Canada

Century Casino Calgary

Canada

Century Downs Racetrack and Casino

Canada

Century Bets!

Canada

Century Mile Racetrack and Casino

United States

Century Casino & Hotel – Central City

United States

Century Casino & Hotel – Cripple Creek

Poland

Casinos Poland

Corporate and Other

Cruise Ships & Other

Corporate and Other

Century Casino Bath

Corporate and Other

Corporate Other

The Company’s net operating revenue increased by $2.3 million, or 6%, and by $6.5 million, or 9%, for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in net operating revenue by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:

Net Operating Revenue

For the three months

For the six months

ended june 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

15,331

$

14,040

$

1,291

9%

$

30,004

$

27,202

$

2,802

10%

United States

8,476

7,943

533

7%

16,183

15,443

740

5%

Poland

14,567

14,287

280

2%

31,949

28,833

3,116

11%

Corporate and
Other

1,274

1,060

214

20%

2,134

2,251

(117)

(5%)

Consolidated

$

39,648

$

37,330

$

2,318

6%

$

80,270

$

73,729

$

6,541

9%

The Company’s earnings from operations decreased by ($2.6) million, or (73%), and by ($3.9) million, or (48%), for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:

Earnings (Loss) from Operations

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

3,785

$

3,647

$

138

4%

$

7,340

$

6,694

$

646

10%

United States

1,548

1,346

202

15%

2,724

2,504

220

9%

Poland

(1,351)

636

(1,987)

(312%)

(329)

2,442

(2,771)

(114%)

Corporate and
Other

(2,986)

(1,988)

(998)

(50%)

(5,486)

(3,507)

(1,979)

(56%)

Consolidated

$

996

$

3,641

$

(2,645)

(73%)

$

4,249

$

8,133

$

(3,884)

(48%)

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($1.5) million, or (82%), and by ($2.7) million, or (69%), for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:

Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

1,947

$

1,823

$

124

7%

$

3,972

$

3,306

$

666

20%

United States

1,151

836

315

38%

2,025

1,553

472

30%

Poland

(776)

435

(1,211)

(278%)

(246)

1,518

(1,764)

(116%)

Corporate and
Other

(2,005)

(1,292)

(713)

(55%)

(4,507)

(2,415)

(2,092)

(87%)

Consolidated

$

317

$

1,802

$

(1,485)

(82%)

$

1,244

$

3,962

$

(2,718)

(69%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

The Company’s Adjusted EBITDA** decreased by ($1.8) million, or (27%), and by ($1.9) million, or (15%), for the three and six months ended June 30, 2018 compared to the three and six months ended June 30, 2017. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three and six months ended June 30, 2018 compared to the three and six months ended June 30, 2017:

Adjusted EBITDA**

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

4,992

$

4,502

$

490

11%

$

9,702

$

8,381

$

1,321

16%

United States

2,091

1,964

127

7%

3,811

3,732

79

2%

Poland

153

1,574

(1,421)

(90%)

2,256

3,952

(1,696)

(43%)

Corporate and
Other

(2,575)

(1,628)

(947)

(58%)

(4,543)

(2,934)

(1,609)

(55%)

Consolidated

$

4,661

$

6,412

$

(1,751)

(27%)

$

11,226

$

13,131

$

(1,905)

(15%)

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.
** Adjusted EBITDA and Adjusted EBITDA margin are Non-GAAP financial measures. See discussion and reconciliation of Non-GAAP financial measures in Supplemental Information below.
*** The Company defines book value per share as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.

Balance Sheet and Liquidity
As of June 30, 2018, the Company had $54.4 million in cash and cash equivalents and $54.3 million in outstanding debt on its balance sheet compared to $74.7 million in cash and cash equivalents and $56.7 million in outstanding debt at December 31, 2017. The outstanding debt as of June 30, 2018included $34.0 million related to the Company’s BMO Credit Agreement, $2.8 million of bank debt related to Casinos Poland, $2.6 million of bank debt related to Century Casino Bath, $0.3 millionrelated to capital leases for Century Resorts Alberta, Century Casino Calgary, Century Casino St. Albert, Century Downs Racetrack and Casino (“CDR”) and Century Mile Racetrack and Casino, and $14.8 million related to a long-term land lease for CDR, net of $0.2 million in deferred financing costs.

Conference Call Information
Today the Company will post a copy of its quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2018 on its website at http://corporate.cnty.com/investor-relations/sec-filings. The Company will also post a presentation on the second quarter results on its website at http://corporate.cnty.com/investor-relations/presentations-and-interviews.

The Company will host its second quarter 2018 earnings conference call tomorrow, Thursday, August 9th, at 8:00 am MDT4:00 pm CEST, respectively. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at https://centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until August 31, 2018 at http://corporate.cnty.com/investor-relations/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of Earnings

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in thousands, except for per share information

2018

2017

2018

2017

Operating revenue:

Net operating revenue

$

39,648

$

37,330

$

80,270

$

73,729

Operating costs and expenses:

Total operating costs and expenses

38,651

33,689

76,020

65,596

Loss from equity investment

(1)

(1)

Earnings from operations

996

3,641

4,249

8,133

Non-operating income (expense), net

(885)

(607)

(1,838)

(1,304)

Earnings before income taxes

111

3,034

2,411

6,829

Income tax provision

(14)

(864)

(993)

(1,859)

Net earnings

97

2,170

1,418

4,970

Net loss (earnings) attributable to non-controlling interests

220

(368)

(174)

(1,008)

Net earnings attributable to Century Casinos, Inc.
shareholders

$

317

$

1,802

$

1,244

$

3,962

Earnings per share attributable to Century Casinos,
Inc.:

  Basic

$

0.01

$

0.07

$

0.04

$

0.16

  Diluted

$

0.01

$

0.07

$

0.04

$

0.16

Weighted average common shares

  Basic

29,376

24,466

29,369

24,460

  Diluted

29,974

24,962

29,984

24,911

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Balance Sheets

(Amounts in thousands)

June 30,

December 31,

2018

2017

Assets

Current assets

$

63,188

$

84,321

Property and equipment, net

169,809

152,778

Other assets

36,410

37,777

Total assets

$

269,407

$

274,876

Liabilities and Equity

Current liabilities

$

37,198

$

34,438

Non-current liabilities

47,960

53,120

Century Casinos, Inc. shareholders’ equity

176,884

179,897

Non-controlling interests

7,365

7,421

Total liabilities and equity

$

269,407

$

274,876

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in thousand

2018

2017

% Change

2018

2017

% Change

Net operating revenue as reported (GAAP)

$

39,648

$

37,330

6%

$

80,270

$

73,729

9%

Foreign currency impact vs. 2017

(1,608)

(5,035)

Net operating revenue constant currency
(non-GAAP)*

$

38,040

$

37,330

2%

$

75,235

$

73,729

2%

Earnings from operations (GAAP)

$

996

$

3,641

(73%)

$

4,249

$

8,133

(48%)

Foreign currency impact vs. 2017

(16)

(230)

Earnings from operations constant currency
(non-GAAP)*

$

980

$

3,641

(73%)

$

4,019

$

8,133

(51%)

Net earnings attributable to Century Casinos,
Inc.shareholders as reported (GAAP)

$

317

$

1,802

(82%)

$

1,244

$

3,962

(69%)

Foreign currency impact vs. 2017

(10)

(61)

Net earnings attributable to Century Casinos,
Inc. shareholders constant currency (non-
GAAP)*

$

307

$

1,802

(83%)

$

1,183

$

3,962

(70%)

Gains and losses on foreign currency transactions are added back to net earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)

For the three months

For the six months

ended June 30,

ended June 30,

2018

2017

2018

2017

Canada

33%

32%

32%

31%

United States

25%

25%

24%

24%

Poland

1%

11%

7%

14%

Corporate and Other

(202%)

(154%)

(213%)

(130%)

Consolidated Adjusted EBITDA Margin

12%

17%

14%

18%

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable
Segment.

For the three months ended June 30, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

1,947

$

1,151

$

(776)

$

(2,005)

$

317

Interest expense (income), net

1,020

36

19

1,075

Income taxes (benefit)

684

397

(210)

(857)

14

Depreciation and amortization

798

546

673

153

2,170

Net earnings (loss) attributable to non-
controlling interests

199

(389)

(30)

(220)

Non-cash stock-based compensation

232

232

Gain on foreign currency transactions
and cost recovery income

(65)

(12)

(113)

(190)

Loss (Gain) on disposition of fixed assets

1

(3)

831

829

Pre-opening expenses

408

26

434

Adjusted EBITDA

$

4,992

$

2,091

$

153

$

(2,575)

$

4,661

For the three months ended June 30, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

1,823

$

836

$

435

$

(1,292)

$

1,802

Interest expense (income), net

867

29

(8)

888

Income taxes (benefit)

794

510

198

(638)

864

Depreciation and amortization

845

618

472

83

2,018

Net earnings attributable to non-
controlling interests

150

218

368

Non-cash stock-based compensation

126

126

Loss (gain) on foreign currency
transactions and cost recovery income

13

(244)

(50)

(281)

Loss on disposition of fixed assets

10

241

251

Acquisition costs

151

151

Pre-opening expenses

225

225

Adjusted EBITDA

$

4,502

$

1,964

$

1,574

$

(1,628)

$

6,412

For the six months ended June 30, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

3,972

$

2,025

$

(246)

$

(4,507)

$

1,244

Interest expense (income), net

1,959

110

18

2,087

Income taxes (benefit)

1,219

699

112

(1,037)

993

Depreciation and amortization

1,670

1,086

1,322

245

4,323

Net earnings (loss) attributable to non-
controlling interests

328

(124)

(30)

174

Non-cash stock-based compensation

347

347

(Gain) loss on foreign currency
transactions and cost recovery income

(138)

(181)

70

(249)

Loss on disposition of fixed assets

3

1

858

1

863

Pre-opening expenses

689

405

350

1,444

Adjusted EBITDA

$

9,702

$

3,811

$

2,256

$

(4,543)

$

11,226

For the six months ended June 30, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

3,306

$

1,553

$

1,518

$

(2,415)

$

3,962

Interest expense (income), net

1,785

16

(12)

1,789

Income taxes (benefit)

1,324

951

612

(1,028)

1,859

Depreciation and amortization

1,648

1,228

1,044

183

4,103

Net earnings attributable to non-
controlling interests

248

760

1,008

Non-cash stock-based compensation

235

235

Loss (gain) on foreign currency
transactions and cost recovery income

31

(464)

(52)

(485)

Loss on disposition of fixed assets

11

241

3

255

Acquisition costs

28

152

180

Pre-opening expenses

225

225

Adjusted EBITDA

$

8,381

$

3,732

$

3,952

$

(2,934)

$

13,131

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

*  The impact of foreign exchange rates is highly variable and difficult to predict. The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period revenue compared to prior period revenue using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current quarter and the prior year second quarter are reported in Item 1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018. Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, earnings from operations or net earnings attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

**  The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions and other, gain on business combination and certain other one-time items, such as acquisition and disposition costs and gain or loss. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each segment. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under GAAP. Adjusted EBITDA is not considered a measure of performance recognized under GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders above.

*** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non- GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH (“CRM”), formerly Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner of eight casino licenses throughout Poland. Six of the casinos in Poland are operating as of August 8, 2018. The Company, through CRM, also holds 75% ownership interests in both CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada, and Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada. The Company holds a 51% ownership interest in Golden Hospitality Ltd., a company that manages a hotel and international entertainment and gaming club in Vietnam. The Company operates 13 ship-based casinos under agreements with four cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.

For more information about Century Casinos, visit our website at www.cnty.com.

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Bermuda and Vietnam projects, debt repayment, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2017 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

 

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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Gambling in the USA

Inspired Announces Two New Board Members

Zoltan Tundik

Published

on

PRNewsFoto/Inspired Entertainment, Inc.
Reading Time: 4 minutes

Desiree Rogers and Steve Saferin Named to Board of Directors

NEW YORK, Aug. 21, 2018 – Inspired Entertainment, Inc. (“Inspired”) (NASDAQ: INSE) announces the appointment of Desiree Rogers and Steve Saferin to its Board of Directors, effective immediately.  These appointments fill two vacancies on the Board and bring the total number of Board members to seven.

“We welcome Desiree Rogers and Steve Saferin to the board as new independent directors and look forward to the value their leadership will bring,” said Lorne Weil, Executive Chairman of Inspired Entertainment.  “As we continue our focus on North American expansion, the depth of knowledge and relevant experience of both Desiree and Steve will provide valuable perspective.

“Desiree is an accomplished business leader, a former Illinois Lottery Director, and an experienced Board member in both the public and nonprofit sector.  We are confident that Inspired will benefit from her insights, business acumen and counsel.

“Steve is a renowned innovator, having been recognized by the Lottery Hall of Fame for inventing and implementing licensed games in the lottery industry.  His creativity, entrepreneurial spirit, and demonstrated track record are sure to be assets for our Company.”

Desiree Rogers was the Chief Executive Officer of Johnson Publishing Company, LLC, a lifestyle company inspired by the African American experience, from August 2010 until May 2017. In 2016, Ms. Rogers sold the media assets of the company. Since May 2013, Ms. Rogers has served as the Chair of the Chicago tourism bureau, Choose Chicago.

Ms. Rogers joined Johnson Publishing Company after serving as the White House Social Secretary for President Obama from January 2009 to April 2010.  During her illustrious career, she held several leadership positions at Allstate Corporation and Peoples Energy Corporation (a public company acquired by Integrys Energy Group) and served as the Director of the Illinois Lottery from 1991 to 1997.

She currently serves on the boards of two public companies, Pinnacle Entertainment, Inc. and MDC Partners Inc She also serves on the board of DonorsChoose, Northwestern Memorial Foundation, the Economic Club, the Commercial Club and World Business Chicago. She has also served on the board of Blue Cross Blue Shield, and as the Vice Chairman of the Lincoln Park Zoo and the Museum of Science and Industry. She has an undergraduate degree from Wellesley College and an M.B.A. from Harvard Business School.

Steven Saferin founded Media Drop-In Productions (later named MDI Entertainment) in 1986, a licensed lottery games and promotions business, where he served as President and Chief Executive Officer until 2003, when he sold the company to Scientific Games Corporation. Following the sale, Mr. Saferin continued to lead MDI as a division president and also assumed the position of Chief Creative Officer for Scientific Games in 2009 until his retirement in 2016.

Prior to founding MDI, Mr. Saferin was the Director of Program Acquisitions at ESPN from 1982 to 1986 and served as a vice president with Viacom Communications and an assistant vice president with Warner Amex Cable from 1978 to 1982. Mr. Saferin was an attorney for the Federal Communications Commission and for Viacom International Inc. between 1974 and 1978.

Mr. Saferin serves on the Dean’s advisory committees for the School of Communication at American University and for the Odum School of Ecology at the University of Georgia. He has a journalism degree from American University. He holds a law degree from the University of Maryland. He has been recognized by the Lottery Hall of Fame for innovations in lottery advertising and the invention and implementation of licensed games in the lottery industry.

About Inspired Entertainment, Inc.
Inspired is a global games technology company, supplying Virtual Sports, Mobile Gaming and Server Based Gaming systems with associated terminals and digital content to regulated lottery, betting and gaming operators around the world. Inspired currently operates approximately 30,000 digital gaming terminals and supplies its Virtual Sports products through more than 40,000 retail channels and over 100 websites, in approximately 35 gaming jurisdictions worldwide. Inspired employs approximately 800 employees in the UK and elsewhere, developing and operating digital games and networks. Additional information can be found at www.inseinc.com.

Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K, which are available, free of charge, on the SEC’s website at www.sec.gov and on our site at www.inseinc.com.

Contact:
Aimee Remey
Aimee.remey@inseinc.com
+1 646 620-6737

SOURCE Inspired Entertainment, Inc.

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Gambling in the USA

AGS Announces Agreement with PokerStars Play to Provide Social White-Label Casino

Zoltan Tundik

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LAS VEGASAug. 21, 2018 – PlayAGS, Inc. (NYSE: AGS) (“AGS” or the “Company”), a leading designer and supplier of electronic gaming machines, table games, and interactive products and services for the gaming industry, today announced that it entered an agreement to provide AGS’s Social White-Label Casino (“Social WLC“) to PokerStars Play, the play-money and social gaming brand of The Stars Group, as part of its slot-focused social casino portfolio. The Stars Group is a leading provider of technology-based products and services in the global gaming and interactive entertainment industries.

PokerStars Play will deploy AGS’s Social WLC, a powerful, turn-key mobile and web casino solution that delivers an interactive social gaming experience which players can enjoy at home, work, and on-the-go through iOS or Android devices and via the web.

Lloyd Melnick, Director of Social Gaming at PokerStars, said, “When we had the opportunity to work with AGS to extend our social casino portfolio, we were impressed with their proven, high-performing land-based content and broad range of non-slots games.  Their offering is a good fit with what our existing customers are looking for and we are excited to offer our community of millions of registered players an incredible AGS experience.”

AGS President and Chief Executive Officer David Lopez said, “It is an honor and an important milestone in the growth of our AGS Interactive business that The Stars Group, one of the largest online gaming businesses in the world, with millions of registered players, selected us to power their first social casino focused on slot content following their incredible success in online poker. We feel confident that this is just the beginning of our relationship with The Stars Group as we deliver a large library of proven social and land-based slot content through our Social WLC.

The AGS Social WLC delivers over 40 proven land-based and social slot games along with popular in-app features like tournaments, live events, charms, progressive jackpots, and VIP status. Social WLCstrengthens player relationships through highly segmented in-app messaging and push notifications and offers more monetization opportunities through targeted promotions and live events. Deep analytics, live operations, promotions, live events, and VIP management help ensure a solid, secure and long-lasting revenue stream.

About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, but our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, highly rated social casino solutions for players and operators, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more about us at www.playags.com.

AGS Contact:

Julia BoguslawskiChief Marketing Officer and Executive Vice President of Investor Relations
702-301-6090 Mobile
jboguslawski@PlayAGS.com

The Stars Group Contact:

press@pokerstars.com

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Gambling in the USA

Eclipse Gaming’s Arcadia Select™ Multi-Game Delivers Greater Game Variety for Players Without Increasing Space on the Casino Floor

George Miller

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Eclipse Gaming’s Arcadia Select™ Multi-Game Delivers Greater Game Variety for Players Without Increasing Space on the Casino Floor
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Aug, 2018 –– Eclipse Gaming, a leading provider of innovative games and systems to the global gaming industry, announced the release of its new Arcadia SelectTM Multi-Game Series, an exciting collection of player-favorite games in a multi-game format. Arcadia Select effectively solves the operator’s challenge of how to expand the game mix for better player engagement, without the need for more gaming floor space.

The Arcadia Select series is a compilation of nine top-performing classic titles – including Big and Bad™, Ragin’ Bull™, and Lightning Strikes Twice™ – centralized on Eclipse Gaming’s premium Saros cabinet. Featuring striking high definition graphics, player-selected denominations and a quick load time, Arcadia Select allows casino operators to choose the number of games and theme types to offer players in a multi-game format on a single gaming machine.

“Eclipse’s Arcadia Select Multi-Game allows casinos with limited floor space the ability to increase the game variety for the player without adding machines to their floor,” noted Abhinay Bhagavatula, Eclipse Gaming’s Vice President of Engineering and Products. “The entire player experience is improved with more options – from two to six unique games in one cabinet. The multi-game format allows the player to select the game they want to play without having to move from one gaming machine to another.”

This series features proven titles including Fire™, a game that puts players in the hot seat with the chance to win on fifty lines; Wild Hot™, featuring a scorching Free Spin Bonus that awards up to fifty free spins; Lightning Strikes Twice™, a theme that defies elemental logic and leaves players in awe; Big and Bad™, a new twist on a treasured childhood tale; Ragin’ Bull™, where players grab the bull by the horns; and Wicked Mad Hot™ the fiery free spin game that all players love. Additional player-favorite titles in the Arcadia Select collection include Blazing Wilds™, Highway Hogs™ and Volcano Shakedown™.

Arcadia Select is the latest addition to Eclipse Gaming’s portfolio of top performing games.

 

About Eclipse Gaming:
Eclipse Gaming is a leading supplier of innovative games and systems for the global gaming industry. The company operates primarily in the Native American gaming markets in the U.S., as well as select commercial and international jurisdictions. Eclipse Gaming designs, manufactures and markets top performing games, local, mystery and multi-level progressives, and slot management systems. For more information, visit www.eclipsegamingsystems.com

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