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Scout Gaming publishes Q2 2019: Increased revenues for the start of H2

George Miller

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Scout Gaming publishes Q2 2019: Increased revenues for the start of H2
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”We continue to build long-term values ​​through agreements we entered into during the quarter, integrations we have made, as well as the products we have completed and started to launch with our partners. The effect of spring’s work has as anticipated, started to have an effect after the summer in connection to the start of the major sport leagues. We have previously been somewhat behind schedule, but have caught up after the end of the quarter and are now in line with expectations of achieving a solid revenue growth during the second half of 2019.

The network effect is now starting to get visible and we are moving towards the strongest sales month in Scout Gaming’s history. On our internal brand, we have seen a preliminary revenue increase of approximately 355% compared to August last year. The increase is representative of our customer base in general. The number of paying active users at our customer base has increased by about 300% compared to August 2018.

For the second year in a row, we won EGR B2B Awards for best fantasy product, which is clear proof that we are the market leader. Another example of this is our season-long Premier League game which this season has a record sum prize pool of SEK 2.5 million. The tournament has attracted nearly 10,000 registered teams and is recognized as the biggest European Fantasy Premier League tournament to date. Compared to last year’s season games for the Premier League, player turnover increased almost 250%.”

Extract from CEO Andreas Ternstrom’s commentary to the interim report.

Quarter April – June 2019

• Revenue amounted to mSEK 4.0 (4.9), of which mSEK 2.3 (2.7) was net sales

• EBITDA amounted to mSEK -12.1 (-4.7)

• Net result amounted to mSEK -13.3 (-7.1)

• Earnings per share amounted to SEK -1.0 (-0.6)

• Operator trading index (which illustrates the underlying client activity) increased to 687 (409), a growth of 68%

• Scout Gaming entered into an agreement with the France state lottery FDJ, which is one of the largest gaming companies.

• Scout Gaming has entered into an agreement with Scientific Games Digital, one of the top leading global gaming suppliers. The SG Digital workforce amounts to over 1,500 members of staff across 34 offices around the world, and has an excess of 200 customers, more than 2,000 games and 40 licenses worldwide. Scientific Games has a turnover of 3 Bn USD and is listed on the Nasdaq stock exchange.

• Scout Gaming has entered into an agreement with Expressen regarding deliverance of the company’s gaming platform. Expressen will gain access to a number of sports and is expected to launch during 2019. Expressen, which is part of Bonnier News, is one of the largest media houses on the Swedish market.

• Scout Gaming entered into an agreement with platform provider Digitain. The agreement stipulates the distribution of Scout Gaming’s products. Digitain is a privately held company providing Omni-channel iGaming software solutions to the online, mobile and land-based verticals. Digitain has over 1,000 employees, 55+ partners worldwide, and more than 400 land-based bet shops worldwide.

• Scout Gaming Group has been granted a license by Malta Gaming Authority, which enables Scout Gaming to provide betting related services, to operators under the Maltese regulation.

• Scout Gaming conducted directed rights issues amounting to approximately 27 MSEK. Participants included Tekkorp Capital LLC, Swedbank Robur Fonder AB, Provobis Invest AB and Knutsson Holding AB among a couple of international institutional investors.

Interim period January – June 2019
• Revenue amounted to mSEK 7.6 (4.9), of which mSEK 4.2 (3.6) was net sales.

• EBITDA amounted to mSEK -26.7 (-12.5)

• Net result amounted to mSEK -29.4 (-16.2)

• Earnings per share amounted to SEK -2.2 (-1.2)

Events after the period
Preliminary revenue growth for our internal brand, which is representative for our customer base in general, is approximately 355% in August, compared with the whole of August 2018. The number of paying active users in our customer base has increased by approximately 300% compared with the whole of August 2018. This information is based on the first 29 days of August and should not be seen as a forecast, but an indication of how the quarter has started.

Industry News

Pragmatic Play And LeoVegas Announce Highly Awaited Bingo Deal

George Miller

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Pragmatic Play And LeoVegas Announce Highly Awaited Bingo Deal
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Pragmatic Play and LeoVegas have announced a ground-breaking deal which sees the award-winning casino launch top bingo games from one of the industry’s leading content providers.

Existing players on LeoVegas brands such as LeoVegas UK, Crown Bingo, Pink Casino and Legs Eleven will now have access to one of the most innovative and multi-featured bingo products on the market, offering highly competitive daily jackpots and prizes.

This deal strengthens Pragmatic Play’s strategy to offer a full suite of cutting-edge iGaming products to a wider audience.

Claire McDaid, Vice President of Bingo at Pragmatic Play said: ‘I am thrilled and thoroughly looking forward to working with the LeoVegas team on both their existing bingo brands and their new launches.”

“The Pragmatic Play bingo team have worked vigorously to ensure we have a stand-out product across UX, UI and Back Office features which I am confident will enable LeoVegas and the Rocket X managed brands to drive their bingo business forward.

A spokesperson at LeoVegas said: “We are delighted to further enhance our agreement with Pragmatic Play and take their revolutionary bingo offering.

“We have a close relationship with the supplier already, taking both slot titles and Live Casino products, so it was the next logical step to take another vertical from them, considering how well their products have performed in our portfolio.”

The provider’s Bingo product offers a market-leading number of variants including 90, 80,75,50 and 30 ball bingo. At ICE 2020, the supplier created much excitement with the launch of a unique mobile-first bingo game, ensuring partners have innovative and exciting content to attract and retain both bingo and softer gaming customers in an ever-increasing competitive marketplace.

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Industry News

Push Gaming joins forces with GVC

George Miller

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Push Gaming joins forces with GVC
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Chart-topping slot developer integrates full suite of games across operator’s roster of popular brands

Push Gaming, the slots supplier behind player favourite Jammin’ Jars and Razor Shark, has put pen to paper on a deal to supply GVC with its full suite of games.

The integration will take place via the supplier’s own platform, giving players at brands such as Ladbrokes, Coral and bwin access to a selection of its hit releases.

The remainder of the games in the extensive portfolio will then be made available in the coming months.

James MarshallCEO of Push Gaming, said: “We’re very pleased to be partnering with GVC and to be providing our games to players at some of the most popular and successful online gambling brands in the world.

“Our titles have proved to be a big hit with a wide range of players, and we look forward to entertaining and exciting GVC’s customers.”

Push Gaming has established itself as one of the most exciting and innovative game developers thanks to its winning combination of great graphics, intelligent maths and state of the art game mechanics.

It has ambitious plans to roll out a long list of new games, as well as new platform-level innovations during 2020 following the acquisition of Game Server Integrations (GSI) at the beginning of the year.

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Compliance Updates

Gambling Compliance tracker reports record breaking quarter for regulators

George Miller

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Gambling Compliance tracker reports record breaking quarter for regulators
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Online gambling regulators were busy in the first quarter of 2020, issuing a total of in excess of £25m in fines to just five online gambling operators between January and March.

This is a huge increase over penalties issued in previous years. Online gambling compliance tracker GamblingIndustryFines.com tracked a total of over £16m in fines doled out to iGaming operators for the whole of 2019.

The first fine of the year was issued in January by the Malta Gaming Authority – a £2M fine for Blackrock Media for “servicing unauthorized transactions”.

GVC Australia was up next on Valentine’s day – receiving a fine for £106k after two GVC brands, Ladbrokes and Neds – were found guilty of offering betting bonuses to people who opened new betting accounts – contrary to Australian law.

The same month, Mr Green was on the receiving end of a £3M fine from the UK Gambling Commission for systemic failings in its measures to stop money laundering and problem gambling.

The UKGC issued Betway with a record £11.6m fine in March as a settlement for accepting stolen money from high spending “VIP” customers, some of whom were displaying clear signs of gambling addiction.

The final regulator fine of the first quarter went to Kindred Group when Spooniker Ltd, a wholly owned subsidiary of Kindred Group received a warning and a sanction fee in the sum of SEK 100 million (USD 9,5m/£8.5m) by the Swedish Gambling Authority (SGA) for offering customers financial incentives which are in breach of the new gambling legislation.

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