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Gambling.com Group Releases 2019 Q1 Interim Report

George Miller

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Gambling.com Group Releases 2019 Q1 Interim Report
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Q1 Interim Report | 3 months ended 31 March 2019

JAN – MARCH 2019 COMPARED TO JAN – MARCH 2018

  • Revenues totalled EUR 5.24 (3.46) million, an increase of 52%. The organic growth rate was 50% (98% of total growth).
  • Adjusted EBITDA excluding non-recurring costs totalled EUR 1.75 (1.32) million, an increase of 33%, corresponding to an adjusted EBITDA margin of 33 (38) %
  • EBITDA totalled EUR 1.75 (0.99) million, an increase of 76%, corresponding to an EBITDA margin of 33 (29) %
  • Net cash generated from operating activities was EUR 1.05 (0.93) million
  • New Depositing Customers (NDCs) totalled 26,525 (15,984), an increase of 66%

SIGNIFICANT EVENTS DURING THE FIRST QUARTER 2019

  • Approval to Expand Business in New Jersey | The Group has been granted approval by the New Jersey Division of Gaming Enforcement to expand business deals with operators to include revenue sharing components.
  • American Gambling Awards by Gambling.com | The Group announced a new annual awards program aiming to recognise excellence in the American market for regulated online gambling. The results of the program will be announced in the second quarter.
  • Sale of Treasury Bonds | The Group has sold treasury bonds with a nominal value of EUR 0.1 million thus increasing net borrowing from the senior bonds issued at 22 October 2018 to EUR 15.6 million at the quarter end.
  • EUR 7,100,000 Convertible Notes Issue 2017/2019 | The Group redeemed early, part of the Notes with a principal value of EUR 0.1 million. The remaining balance matures on 30th June 2019.
  • Department of Justice Wire Act Re-Interpretation | The United States Department of Justice released an opinion which re-interpreted the Department’s own opinion on the Wire Act from 2011. The ramifications of the new opinion are not yet clear but could create headwinds for the roll-out of regulated online gambling in the United States.
  • Regulation of Swedish Online Gambling Market | As of January 1, 2019 the Swedish market is locally regulated and taxed. We have seen our Swedish assets perform well in terms of NDC production but with a commensurate decrease in player value.

SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD

  • New US States Legislation | Indiana, Iowa, Montana, and Tennessee took measures to authorize sports betting.
  • Gambling.com Joins the Fantasy Sports & Gaming Association (“FSGA”) Board of Directors | In April 2019 the Group represented by Gavin Walters, the Group’s director of business development, was appointed to the FSGA Board of Directors.
  • Membership of the Associated Press Sports Editors (“APSE”) | The Executive Committee of APSE has granted membership to Gambling.com Group Plc thus the Group becomes the first member of APSE focused on covering the emerging sports betting market in the United States.
  • Publication of Annual Report | The 2018 Annual Report and consolidated Financial Statements was published on April 25 and is available on the official website of the Group (www.gambling.com/corporate).
  • Increase in United Kingdom Remote Gaming Duty | The UK government has announced an increase in Remote Gaming Duty on operators from 15% to 21% with effect from April 1st, 2019.

“The Group delivered yet another record quarter. Revenue grew 52% to EUR 5.24 million compared to Q1 2018. Virtually all of the growth was organic. Q1 EBITDA was also a record at EUR 1.75 million.” – Charles Gillespie, Chief Executive

 

About Gambling.com Group:

Gambling.com Group Plc is a multi-award winning provider of digital marketing services for the global iGaming industry. Founded in 2006, the group has a workforce of more than 110 and operates from offices in Dublin, Tampa and Malta. The group publishes websites that offer comparisons and reviews of online gambling websites in 15 national markets in 9 languages. Players use these resources to select which online gambling operators they should trust to offer a safe and honest online gambling experience. The Group’s publishing assets include the leading iGaming industry portal, Gambling.com® as well as Bookies.com and the CasinoSource℠ series of portals, among many others.

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.

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GES Installs Poker Jackpot and Management System at Skycity Adelaide

Niji Narayan

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GES Installs Poker Jackpot and Management System at Skycity Adelaide
Photo Source: t3systems.com
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Gaming Entertainment Systems has installed its Poker Jackpot and Management System at Skycity Adelaide in New Zealand. Skycity Adelaide is the first customer to use the High Hand Bonus feature which awards a fixed prize for the highest poker hand achieved during specific time periods. The players are also offered a Royal Flush Jackpot.

“GES and Skycity Adelaide have worked closely together to deliver an integrated poker management solution including jackpots, bonusing, cash game management, waitlist and tournament functionality,” Simon Witty, GES’ managing director said.

“We are delighted to be able to enhance our poker product with unique features including a Royal Flush Jackpot and High Hand Bonus, both of which have proved very popular since launch. The GES system installation was flawless and their customer support has been outstanding,” Ash Azad, Skycity Adelaide’s general manager for table games said.

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Casinos de France Demands “Hard Games Protections” on FDJ Sale

Niji Narayan

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Casinos de France Demands “Hard Games Protections” on FDJ Sale
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Casinos de France, the professional trade union organisation in France, has written to the En Marche government demanding that its planned sale of Francaise des Jeux (FDJ), the state-owned gambling/lottery operator, be undertaken on specific terms which do not hinder national casino incumbents.

The trade union states that FDJ’s sale must not include any terms allowing its buyer to service “Article-D (321-13)” games. Article-D games reference casino-style inventory and slots machines, making no clear distinction between land-based and digital verticals. Furthermore, these games are classified as hard content.

The governance of Casinos de France demands that its sale terms stipulate that the buyer of FDJ cannot service hard games content across FDJ terminals and its network of outlets. Casinos de France closes its statement by detailing that it will challenge any threat to France’s land-based casino sector.

“45,000 jobs including 15,000 direct, 60 million visitors, 500 cultural events supported financially, 350 bars and 300 restaurants in the casinos as well as 300 performance and reception halls employing 20,000 intermittent performers, 50 hotels, 35 discotheques, 34 bowling / cinemas, financial support and active development of tourism sector,” it said.

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iGaming giant Greentube broadens Italian footprint

George Miller

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iGaming giant Greentube broadens Italian footprint
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E-Play24 has boosted its games offering with Greentube, the NOVOMATIC Interactive division, which will see its Home of Games portfolio live across the operator’s platforms.

Italian operator and platform provider E-Play 24 prides itself on partnering with industry leaders, and this latest partnership is no exception, with the deal granting E-Play24 the opportunity to offer some of Greentube’s greatest hits, such as Book of RaTM deluxe, Lucky Lady’s CharmTM deluxe and Sizzling HotTM deluxe on its platforms.

Daniel Lechner, Greentube Head of Sales, commented: “We are delighted to expand our game offering to E-play24 and their brands, further strengthening our presence in the Italian market. For Greentube, Italy has become a key market over the last 12 months and we aim to be the leading supplier for the region, backing up the strong street market and land-based presence of our parent company NOVOMATIC.”

Antonio Tressanti, CEO of E-Play24, added: “Thanks to the great partnership with Greentube, the Vegas section in our E-Play24 Casino platforms will grow not only in volume, but also in quality.  There are few suppliers that can boast such a wide range of quality content and this makes me particularly happy.”

Alessandro Grasso, E-Play24 Group Casino Manager, stated: “Being able to offer our customers the world’s most played slot, Book of RaTM deluxe, means E-Play24 can be more in-line with current consumer demand. After months of development and hard work we have reached this new and very important milestone. Among other things, we are currently working on many interesting projects that will be placed on the market in the coming months, all this to continue to expand our range of online games.”

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