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Century Casinos, Inc. Announces Fourth Quarter and Full Year 2019 Results

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Century Casinos Re-Opens Casinos in Poland
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Century Casinos, Inc.  announced its financial results for the three months and year ended December 31, 2019.

Fourth Quarter 2019 Highlights*

  • Net operating revenue was $67.2 million, an increase of 49% from the three months ended December 31, 2018.
  • Loss from operations was ($14.7) million, a decrease of 846% from the three months ended December 31, 2018.
  • Net loss attributable to Century Casinos, Inc. shareholders was ($20.1) million, a decrease of 4080% from the three months ended December 31, 2018.
  • Adjusted EBITDA** was $9.8 million, an increase of 69% from the three months ended December 31, 2018.
  • Loss per share was ($0.68).

2019 Highlights*

  • Net operating revenue was $218.2 million, an increase of 29% from the year ended December 31, 2018.
  • Loss from operations was ($5.2) million, a decrease of 155% from the year ended December 31, 2018.
  • Net loss attributable to Century Casinos, Inc. shareholders was ($19.2) million, a decrease of 664% from the year ended December 31, 2018.
  • Adjusted EBITDA** was $30.3 million, an increase of 30% from the year ended December 31, 2018.
  • Basic loss per share was ($0.65), a decrease of 642% from the year ended December 31, 2018.
  • Diluted loss per share was ($0.65), a decrease of 691% from the year ended December 31, 2018.
  • Book value per share*** at December 31, 2019 was $5.54.

In December 2019, the Company determined that the intangible and tangible assets at Century Casino Bath were impaired. The impairment, which totaled $16.5 million, was determined after evaluating losses incurred by the casino since operations began and future forecasts of continued losses due to the current regulatory environment for casinos in England.

On December 6, 2019, the Company completed its acquisition (the “Acquisition”) of the operations of Isle Casino Cape Girardeau, located in Cape Girardeau, Missouri, Lady Luck Caruthersville, located in Caruthersville, Missouri, and Mountaineer Casino, Racetrack and Resort located in New Cumberland, West Virginia (collectively, the “Acquired Casinos”), from Eldorado Resorts, Inc. for an aggregate purchase price of approximately $110.6 million. Immediately prior to the Acquisition, the real estate assets underlying the Acquired Casinos were sold to an affiliate of VICI Properties Inc. (“VICI PropCo”). On the closing date, the Company and VICI PropCo entered into a triple net lease agreement (the “Master Lease”) for the three Acquired Casino properties. The Master Lease has an initial annual rent of approximately $25.0 million and an initial term of 15 years, with four five-year renewal options.

The consolidated results for the three months and year ended December 31, 2019 and 2018 are as follows:

For the three months

For the year

Amounts in thousands, except per share data

ended December 31,

ended December 31,

Consolidated Results:

2019

2018

% Change

2019

2018

% Change

Net Operating Revenue

$

67,236

$

45,106

49%

$

218,227

$

168,938

29%

(Loss) Earnings from Operations

(14,745)

1,976

(846%)

(5,220)

9,459

(155%)

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

$

(20,140)

$

506

(4080%)

$

(19,155)

$

3,394

(664%)

Adjusted EBITDA**

$

9,776

$

5,801

69%

$

30,281

$

23,377

30%

(Loss) Earnings Per Share Attributable to Century Casinos, Inc. Shareholders:

Basic

$

(0.68)

$

0.02

(3500%)

$

(0.65)

$

0.12

(642%)

Diluted

$

(0.68)

$

0.02

(3500%)

$

(0.65)

$

0.11

(691%)

“We are pleased with the fourth quarter results and the immediate impact the addition of the three casinos acquired from Eldorado Resorts had on our operating results,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “The acquired casinos have had very encouraging initial results, and we are excited to continue integrating the operations into the Century brand and to see anticipated meaningful growth from this acquisition on Century Casinos in the future,” Messrs. Haitzmann and Hoetzinger concluded.

The Company is carefully monitoring the situation caused by the coronavirus (COVID-19) pandemic. Although the entire situation is unpredictable, our management teams are prepared to control what they can control. Our casinos are following and implementing the recommendations from the US Centers for Disease Control and Prevention, which include everyday preventative actions to help prevent the spread of respiratory viruses, such as washing your hands often with soap and water, avoiding touching your eyes, nose, and mouth with unwashed hands, covering your cough or sneeze with a tissue, cleaning and disinfecting frequently touched objects and surfaces and of course staying home when you are sick. We are also putting an extra effort into straight-forward and realistic guest messaging and have stepped-up employee trainings to ensure strict compliance with our policies and procedures. We are in constant communication with our employees to reinforce our sanitation safety procedures in both guest-facing and back-of-house areas. We are sanitizing high-traffic public areas at an increased frequency. Proper procedures are posted in all back-of-house work areas.

To date, COVID-19 has not had a significant impact on our US or Canadian markets, while the market in Poland has been weakening by approximately ten percent. Our customer base is very diversified within North America. Our casinos are ‘local’ casinos in urban and suburban locations, with the vast majority of our business from customers who live within an hour from our facilities. Our casinos have negligible meeting and convention business and few of our customers travel by air to visit us. This may temper the impact of COVID-19 on our business, but this situation continues to evolve and could adversely impact us until the virus runs its course.

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 December 31, 2019:

Reportable Segment

Operating Segment

Reporting Unit

United States

Colorado

Century Casino & Hotel – Central City

Century Casino & Hotel – Cripple Creek

West Virginia

Mountaineer Casino, Racetrack & Resort

Missouri

Century Casino Cape Girardeau

Century Casino Caruthersville

Canada

Edmonton

Century Casino & Hotel – Edmonton

Century Casino St. Albert

Century Mile Racetrack and Casino

Calgary

Century Casino Calgary

Century Downs Racetrack and Casino

Century Bets! Inc.

Poland

Poland

Casinos Poland

Corporate and Other

Corporate and Other

Cruise Ships & Other

Century Casino Bath

Corporate Other

The Company’s net operating revenue increased by $22.1 million, or 49%, and by $49.3 million, or 29%, for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Net Operating Revenue

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

23,926

$

7,938

$

15,988

201%

$

49,998

$

33,483

$

16,515

49%

Canada

20,291

15,678

4,613

29%

80,650

61,361

19,289

31%

Poland

21,675

19,514

2,161

11%

81,894

68,209

13,685

20%

Corporate and Other

1,344

1,976

(632)

(32%)

5,685

5,885

(200)

(3%)

Consolidated

$

67,236

$

45,106

$

22,130

49%

$

218,227

$

168,938

$

49,289

29%

The Company’s earnings from operations decreased by ($16.7) million, or (846%), and by ($14.7) million, or (155%), for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Earnings (Loss) from Operations

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

4,685

$

1,033

$

3,652

354%

$

9,478

$

5,882

$

3,596

61%

Canada

4,000

3,675

325

9%

16,115

14,633

1,482

10%

Poland

1,627

460

1,167

254%

5,915

145

5,770

3979%

Corporate and Other

(25,057)

(3,192)

(21,865)

(685%)

(36,728)

(11,201)

(25,527)

(228%)

Consolidated

$

(14,745)

$

1,976

$

(16,721)

(846%)

$

(5,220)

$

9,459

$

(14,679)

(155%)

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($20.6) million, or (4080%), and by ($22.5) million, or (664%), for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

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

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

2,261

$

767

$

1,494

195%

$

5,825

$

4,373

$

1,452

33%

Canada

948

2,077

(1,129)

(54%)

6,669

7,715

(1,046)

(14%)

Poland

1,352

179

1,173

655%

3,466

(153)

3,619

2365%

Corporate and Other

(24,701)

(2,517)

(22,184)

(881%)

(35,115)

(8,541)

(26,574)

(311%)

Consolidated

$

(20,140)

$

506

$

(20,646)

(4080%)

$

(19,155)

$

3,394

$

(22,549)

(664%)

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** increased by $4.0 million, or 69%, and by $6.9 million, or 30%, for the three months and year ended December 31, 2019 compared to the three months and year ended December 31, 2018. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three months and year ended December 31, 2019 compared to the three months and year ended December 31, 2018:

Adjusted EBITDA**

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

5,441

$

1,582

$

3,859

244%

$

11,825

$

8,061

$

3,764

47%

Canada

5,378

4,991

387

8%

21,212

19,522

1,690

9%

Poland

2,484

1,733

751

43%

9,392

4,890

4,502

92%

Corporate and Other

(3,527)

(2,505)

(1,022)

(41%)

(12,148)

(9,096)

(3,052)

(34%)

Consolidated

$

9,776

$

5,801

$

3,975

69%

$

30,281

$

23,377

$

6,904

30%

Balance Sheet and Liquidity
As of December 31, 2019, the Company had $54.8 million in cash and cash equivalents and $179.0 million in outstanding debt on its balance sheet compared to $45.6 million in cash and cash equivalents and $59.5 million in outstanding debt at December 31, 2018. The outstanding debt as of December 31, 2019 included the following: $170.0 million related to the Company’s credit agreement with a group of lenders led by Macquarie Capital that the Company entered into in December 2019 in connection with the Acquisition, replacing the Company’s credit agreement with the Bank of Montreal$2.0 million of bank debt related to Casinos Poland; $2.0 million of bank debt related to Century Casino Bath; and $15.0 million related to a long-term land lease for CDR, net of $10.0 million in deferred financing costs.

Conference Call Information
Today the Company will post a copy of its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2019 on its website at www.cnty.com/investor/financials/sec-filings. The Company will also post a presentation on the year end results on its website at www.cnty.com/investor/presentations.

The Company will host its fourth quarter 2019 earnings conference call today, Friday, March 13th, at 8:00 am MDT. 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 www.centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until March 31, 2020 at www.cnty.com/investor/financials/sec-filings.

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

Condensed Consolidated Statements of (Loss) Earnings

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands, except for per share information

2019

2018

2019

2018

Operating revenue:

Net operating revenue

$

67,236

$

45,106

$

218,227

$

168,938

Operating costs and expenses:

Total operating costs and expenses

81,981

43,152

223,446

159,502

Earnings (loss) from equity investment

22

(1)

23

(Loss) earnings from operations

(14,745)

1,976

(5,220)

9,459

Non-operating income (expense), net

(3,569)

(1,053)

(6,747)

(3,536)

(Loss) earnings before income taxes

(18,314)

923

(11,967)

5,923

Income tax provision

(955)

(133)

(4,174)

(1,917)

Net (loss) earnings

(19,269)

790

(16,141)

4,006

Net earnings attributable to non-controlling interests

(871)

(284)

(3,014)

(612)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders

$

(20,140)

$

506

$

(19,155)

$

3,394

(Loss) earnings per share attributable to Century Casinos, Inc. shareholders:

  Basic

$

(0.68)

$

0.02

$

(0.65)

$

0.10

  Diluted

$

(0.68)

$

0.02

$

(0.65)

$

0.10

Weighted average common shares

  Basic

29,474

29,439

29,452

29,401

  Diluted

29,474

29,861

29,452

29,962

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

Condensed Consolidated Balance Sheets

December 31,

December 31,

Amounts in thousands

2019

2018

Assets

Current assets

$

79,366

$

54,974

Property and equipment, net

503,933

187,017

Other assets

143,601

36,834

Total assets

$

726,900

$

278,825

Liabilities and Equity

Current liabilities

$

56,570

$

50,020

Non-current liabilities

498,255

45,422

Century Casinos, Inc. shareholders’ equity

163,306

176,321

Non-controlling interests

8,769

7,062

Total liabilities and equity

$

726,900

$

278,825

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

% Change

2019

2018

% Change

Net operating revenue as reported (GAAP)

$

67,236

$

45,106

49%

$

218,227

$

168,938

29%

Foreign currency impact vs. 2018

559

7,207

Net operating revenue constant currency (non-GAAP)*

$

67,795

$

45,106

50%

$

225,434

$

168,938

33%

(Loss) earnings from operations (GAAP)

$

(14,745)

$

1,976

(846%)

$

(5,220)

$

9,459

(155%)

Foreign currency impact vs. 2018

934

955

(Loss) earnings from operations constant currency (non-GAAP)*

$

(13,811)

$

1,976

(799%)

$

(4,265)

$

9,459

(145%)

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

$

(20,140)

$

506

(4080%)

$

(19,155)

$

3,394

(664%)

Foreign currency impact vs. 2018

339

(40)

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

$

(19,801)

$

506

(4013%)

$

(19,195)

$

3,394

(666%)

Gains and losses on foreign currency transactions are added back to net (loss) 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 year

ended December 31,

ended December 31,

2019

2018

2019

2018

United States

23%

20%

24%

24%

Canada

27%

32%

26%

32%

Poland

11%

9%

11%

7%

Corporate and Other

(262%)

(127%)

(214%)

(155%)

Consolidated Adjusted EBITDA Margin

15%

13%

14%

14%

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 December 31, 2019

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

2,261

$

948

$

1,352

$

(24,701)

$

(20,140)

Interest expense (income), net

1,635

1,456

55

1,020

4,166

Income taxes (benefit)

789

1,375

222

(1,431)

955

Depreciation and amortization

756

1,356

781

254

3,147

Net earnings attributable to non-controlling interests

195

676

871

Non-cash stock-based compensation

324

324

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

26

(678)

16,704

16,052

Loss on disposition of fixed assets

22

76

1

99

Acquisition costs

4,302

4,302

Adjusted EBITDA

$

5,441

$

5,378

$

2,484

$

(3,527)

$

9,776

For the three months ended December 31, 2018

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

767

$

2,077

$

179

$

(2,517)

$

506

Interest expense (income), net

1,084

50

65

1,199

Income taxes (benefit)

266

435

280

(848)

133

Depreciation and amortization

548

779

1,025

402

2,754

Net earnings attributable to non-controlling interests

174

89

21

284

Non-cash stock-based compensation

255

255

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

(95)

(138)

94

(139)

Loss on disposition of fixed assets

1

4

27

23

55

Pre-opening expenses

533

221

754

Adjusted EBITDA

$

1,582

$

4,991

$

1,733

$

(2,505)

$

5,801

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 Year ended December 31, 2019

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

5,825

$

6,669

$

3,466

$

(35,115)

$

(19,155)

Interest expense (income), net

1,635

5,312

197

1,085

8,229

Income taxes (benefit)

2,018

3,278

1,617

(2,739)

4,174

Depreciation and amortization

2,330

4,539

3,064

910

10,843

Net earnings (loss) attributable to non-controlling interests

1,295

1,731

(12)

3,014

Non-cash stock-based compensation

1,303

1,303

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

(439)

(1,096)

16,709

15,174

Loss on disposition of fixed assets

17

20

413

345

795

Acquisition costs

5,366

5,366

Pre-opening expenses

538

538

Adjusted EBITDA

$

11,825

$

21,212

$

9,392

$

(12,148)

$

30,281

For the Year ended December 31, 2018

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

4,373

$

7,715

$

(153)

$

(8,541)

$

3,394

Interest expense (income), net

1

3,895

206

12

4,114

Income taxes (benefit)

1,508

2,536

595

(2,722)

1,917

Depreciation and amortization

2,178

3,211

3,065

945

9,399

Net earnings (loss) attributable to non-controlling interests

722

(75)

(35)

612

Non-cash stock-based compensation

868

868

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

(235)

(428)

2

(661)

Loss on disposition of fixed assets

1

10

1,054

25

1,090

Pre-opening expenses

1,668

626

350

2,644

Adjusted EBITDA

$

8,061

$

19,522

$

4,890

$

(9,096)

$

23,377

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 financial information compared to prior period financial information 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, (loss) 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 and prior year are reported in Note 2 to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K. The average exchange rates for the three months ended December 31, 2019 and 2018 are presented below.

For the three months

ended December 31,

Average Rates

2019

2018

% Change

Canadian dollar (CAD)

1.3199

1.3218

0.1%

Euros (EUR)

0.9032

0.8763

(3.1%)

Polish zloty (PLN)

3.8702

3.7668

(2.7%)

British pound (GBP)

0.7766

0.7773

0.1%

Source: Pacific Exchange Rate Service

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, (loss) earnings from operations or net earnings (loss) attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

SOURCE Century Casinos, Inc.

Gambling in the USA

Gaming Americas Weekly Roundup – February 19-25

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on

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

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Sportradar announced the appointment of Felippe Marchetti as Integrity Partnerships Manager in Brazil, as the global sports technology company continues to scale its integrity services team in Latin America. In this role, Marchetti will lead the strategic development of Sportradar’s Integrity Services in Brazil, identifying business opportunities to increase the company’s integrity partnerships in the market and work closely with Sportradar’s Brazil-based integrity analysts.

Lottery.com Inc., a leading online lottery services provider, announced the strategic acquisition of S&MI Ltd. (SportLocker). As part of the acquisition, SportLocker, rebranded as Sports.com, will immediately launch as a premier platform for sports fans worldwide, marking a pivotal leap in Sports.com’s evolution as the next-gen digital sports entertainment space.

GAN Limited, a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, announced that Seamus McGill has recently been named the Company’s Chief Executive Officer. Mr. McGill had previously been serving in an interim capacity. Mr. McGill’s will remain on the Company’s board of directors and will be focused on guiding the Company towards a timely closing with Sega Sammy Creation Inc.

Aruze Gaming Global (AG2) has announced that it has secured approvals from 14 tribal entities in the US and has obtained licenses from the Louisiana Gaming Control Board, South Dakota, the West Virginia Lottery and the Wisconsin Division of Gaming.

Partnerships

Scientific Games has added two more partners to the new SG Content Hub and Partner Programme. In addition to games from its own SG Studios, the company will now offer curated iLottery games from Bwloto and Random State to its 30+ iLottery customers globally. Currently, a total of seven lottery-focused game studios have signed on as partners.

Gen.G and the University of Kentucky (UK) are bringing back their award winning collegiate esports industry conference, Campus Takeover, on March 30 and April 6. This two-day event will bring together esports professionals with students and administrators from different universities.

Light & Wonder Inc. announced the expansion of its integration services through a collaboration with SHR Group’s Allora CRS booking engine. SHR’s Allora CRS software enhances the capabilities of hotel operators by offering advanced booking features that effortlessly integrate with Light & Wonder’s system-independent global loyalty platform, L&W ENGAGE.

SCCG Management has announced the extension of its strategic partnership with AWARE, a world leader in biometric verification software solutions. This renewed commitment builds upon the successful collaboration initiated between the two companies, aiming to further establish AWARE’s advanced biometric software solutions across the gambling sector worldwide.

Hard Rock International has partnered with Major Food Group (MFG) to develop and curate dining experiences at Hard Rock Hotel & Casino properties around the globe. MFG’s support of Hard Rock will extend to proposed projects as well.

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Gambling in the USA

Gaming Americas Weekly Roundup – February 12-18

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

The Michigan Gaming Control Board (MGCB) announced new efforts to streamline access to help by promoting 1-800-GAMBLER as the state’s primary problem gambling helpline. Operated by the National Council on Problem Gambling (NCPG), the National Problem Gambling Helpline (1-800-GAMBLER) is the largest problem gambling helpline network in the world by call volume, population served and geographic area covered.

The Pokagon Band of Potawatomi’s Four Winds Casinos announced that Mary Smith has been named Chief Operating Officer (COO). Mrs. Smith, who most recently served as Executive Vice President of Casino Operations, assumes the role which was being fulfilled on an interim basis by Clayton Mason, who also serves as Chief Financial Officer for Four Winds Casinos.

Mohegan Sun Arena was named “Best Casino/Resort Venue of the Year” at the 35th Annual Pollstar Awards. The Pollstar Awards recognise and support the live entertainment business’ most innovative companies, venues, artists, tours and executives. “Best Casino/Resort Venue of the Year” is an inaugural category for the award ceremony, making Mohegan Sun Arena the first to receive the prestigious recognition.

GAN Limited announced that at a special general meeting of its shareholders held on February 13, 2024, GAN shareholders overwhelmingly approved the previously announced merger agreement and merger of GAN and a subsidiary of Sega Sammy Creation (SSC), an affiliate of Sega Sammy Holdings.

Snail Inc., a leading global independent developer and publisher of interactive digital entertainment, announced significant strides with the launch of West Hunt on Nintendo Switch and the introduction of ASA Premium Mods for ARK Survival Ascended. These initiatives underscore Snail Games’ unwavering commitment to continuously improving and enhancing its current portfolio of game titles.

New Partnerships

BetMGM, a leading sports betting and iGaming operator, announced a strategic partnership with X, becoming the social media platform’s exclusive Live Odds Sports Betting partner. The first-of-its-kind partnership between a premier social media brand and a sports betting operator will integrate BetMGM’s odds and branding into X, with each game linking to BetMGM’s website and app.

Ocean Casino Resort announced its partnership with celebrated chef and restaurateur, Michael Schulson to bring two fine-casual concepts to Ocean’s culinary roster. Opening later this year, Pearl & Mary oyster bar and Samuel’s at Ocean will be located on the lobby level across from The Park.

Churchill Downs Incorporated announced a multi-year agreement naming SAP America Inc. an official signature partner of Churchill Downs Racetrack. SAP, a global market leader in enterprise application software, will be the first official technology partner serving Churchill Downs Racetrack, the Kentucky Derby and Kentucky Oaks.

PlayAGS Inc. announced a partnership with EQL Games, a leading iLottery supplier and content aggregator. AGSi, AGS’ Interactive division, will partner with EQL Games to provide its robust library of unique and engaging real-money online games to U.S. and Canadian iLottery players.

Jackpot Digital Inc. has announced that the Company has signed a licensing agreement with the Saskatchewan Indian Gaming Authority (SIGA) to install the Company’s Jackpot Blitz dealerless poker ETGs. The installations are subject to Jackpot obtaining the customary regulatory and licensing approvals.

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Gambling in the USA

Gaming Americas Weekly Roundup – February 5-11

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

JCM Global (JCM) and the International Centre for Responsible Gaming (ICRG) announced that the highly anticipated 25th annual AGEM & AGA Golf Classic will take place on May 8, 2024, at the internationally acclaimed Shadow Creek Golf Course in North Las Vegas.

OddsSeeker.com has unveiled a new sweepstakes casino rating system, which will quantifiably rank operators by several key factors. On February first week, the company launched a new 6-point rating system, a complete reimagining of sweepstakes casino reviews. It will offer insight into the way these casinos work, providing players with invaluable information so they can easily understand which gaming site is right for them. This enables a weighting of sweepstakes casinos that have unique offerings such as PayPal cashier options, live dealer games, sports predictions and so on.

Wynn Resorts Limited reported financial results for the fourth quarter ended December 31, 2023. Operating revenues were $1.84 billion for the fourth quarter of 2023, an increase of $835.5 million from $1.00 billion for the fourth quarter of 2022. Net income attributable to Wynn Resorts Limited was $729.2 million for the fourth quarter of 2023, compared to net income attributable to Wynn Resorts Limited of $32.4 million for the fourth quarter of 2022. The increase in net income attributable to Wynn Resorts Limited was primarily the result of increased operating revenues from the Macau Operations and Las Vegas Operations, as well as an income tax benefit related to the release of valuation allowance on certain deferred tax assets as a result of achieving sustained profitability in the US.

New Partnerships

Global sports and entertainment company Endeavor has announced the integration of its global sports betting and data businesses, OpenBet and IMG ARENA, under the OpenBet banner.

PAGODA Snacks has entered into a partnership with Riot Games, the company behind the leading global esports property League of Legends. PAGODA Snacks will be featured as the “Official Egg Roll” of LCS and offer fans the perfect game-time snack through special activations, product drops and giveaways throughout the LCS season.

New Appointments

Global Gaming Women, the gaming industry non-profit dedicated to supporting, inspiring and influencing the development of professional women, announced the appointment of Lauren Bates to President of the Board of Directors.

Rabona, the leading sportsbook brand and online casino, has announced the addition of former boxing champion Mike Tyson as its brand ambassador. Through this partnership, players will be offered exclusive Tyson-branded bonuses and streams that blend the boxing legend and casino thrills. As Rabona’s new brand ambassador, Mike Tyson brings his unparalleled charisma and passion to Rabona’s players.

International Gaming Standards Association has appointed Mark Pace as the new President, following Peter DeRaedt’s departure. Mark has been in the gaming industry for over 35 years and has been part of IGSA for over 20 years, acting as Committee Chair, Board Member, Treasurer and Vice-Chairman of the Board, before joining IGSA as the Managing Director of GSA Europe and Vice President of IGSA. Mark will also retain his responsibilities as Managing Director of GSA Europe.

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