Sportradar’s betting solutions provider subsidiary Betradar has partnered UK-based B2B lottery development specialist Lot.to to further enhance its online fixed-odds lottery betting offering.It offers a wide array of draws with a view to creating a more dynamic and fast-paced user experience, similar to a traditional sports betting offering. Players will be able to bet on over 37,000 draws by otteries from more than 70 countries each month.Lot.to has worked with Betradar to develop simple landing pages for all major lotteries, featuring live and upcoming draws. This is complemented by a simple search function and countdown tickers for all games, as well as results pages showing every winning market and symbols to denote ‘hot’ and ‘cold’ numbers.“Globally, numbers betting is hugely popular, but the format of the games in betting shops and online has not evolved for some time; bets are largely limited to a few picks from a handful of national lotteries, with uninspiring odds, long periods to settlement and minimal entertainment for the player,” Lot.to co-founder Andrew Lindley explained.“We are proud to be launching this brilliant package with Betradar, which provides the market with real lotto draws from every corner of the world, with results occurring every minute and significant new gamification that makes for a fresh and utterly compelling offer.”Sportradar sales director for Africa Greg Parsons added that the Lot.to solution fills a significant gap in the online lottery betting marketplace, combining the best elements of lotteries, sports betting and casino in a single solution. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Betradar brings in Lot.to to enhance lottery betting product “We’re hugely excited about the partnership with LOT.TO to help revolutionise lotto betting games by combining our quality betting data and partnerships with their digital UX,” he explained.Betradar’s clients can customise the solution to suit their specific requirements, as well as have it quickly integrated into any betting and gaming platform or payment wallet, and offer the product in a range of languages and currencies.The deal follows the launch of the new solution last week, with Betradar partnering fixed-odds platform developer Bitville to create the offering. The supplier first rolled out a lottery betting solution – for retail operators – in 2015.Betradar will offer the lottery betting service to clients as a package of games complemented by data and reporting tools, all delivered through Lot.to’s application programming interface. It plans to follow this with the launch of betting shop screen and self-service solutions in 2019. Topics: Lottery Tech & innovation Sportradar subsidiary positions new product as most complete B2B lottery betting solution available 30th November 2018 | By contenteditor Lottery Subscribe to the iGaming newsletter Email Address
Topics: Sports betting Tech & innovation Horse racing Subscribe to the iGaming newsletter Horse racing 22nd May 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter BetMakers could provide its racing data and pricing services to as many as 150 more operators around the world after partnering technology and data solutions provider Betgenius, the sports betting subsidiary of Genius Sports.The Australia-headquartered supplier – formerly B2C brand TopBetta – will deliver proprietary fixed pricing and data from 250,000 races per year to Betgenius’ clients. BetMakers covers racing from the UK and Ireland, Asia, Australasia, and North and South America.The two-year deal began earlier this month, with three of Betgenius’ tier one bookmaker customers already live with the product.Todd Buckingham, BetMakers’ chief executive, said: “Betgenius is a worldwide leader in providing B2B solutions to wagering operators for their sports offering. We are delighted they have chosen BetMakers for their racing solution to offer their clients.“This deal allows us to accelerate our racing product and pricing into a range of wagering operators globally and we believe it gives Betgenius clients the best horse racing product in the market, to sit alongside their already established sports services.”Betgenius said the deal, which is through BetMakers’ wholly owned subsidiary Global Betting Services (GBS), will enhance its clients’ racing offerings.BetMakers said GBS – which it acquired last year – will earn a fee based on gross revenue earned by Betgenius under each contract it enters into with its customers for the supply of its racing data.Matt Stephenson, global partnerships director at Betgenius, said: “We are always striving to give our partners simple access to high quality content that will drive their turnover and margin, and this deal with BetMakers does exactly that.”The deal is the latest in an eventful year for BetMakers since it switched its focus from B2C to B2B and acquired GBS and live data solutions supplier Dynamic Odds. In the last 12 months it has attracted blue chip partners including William Hill and Kindred Group. Tags: Race Track and Racino BetMakers could provide its racing data and pricing services to as many as 150 more operators around the world after partnering technology and data solutions provider Betgenius, the sports betting subsidiary of Genius Sports. Regions: Oceania Australia BetMakers to enhance Betgenius’ racing content Email Address
Nektan has issued a profit warning to investors as its decline in player deposits continued into the final quarter of its financial year.The gaming technology platform and services provider, whose clients include BetVictor and News International, published a trading update in relation to its financial year ending June 30, noting that big rises in revenue will not be matched by earnings.It said it expects to deliver year-on-year, double digit revenue growth and a significantly reduced EBITDA loss in FY19 compared to the previous year.However, the Gibraltar-headquartered group’s target of achieving EBITDA break-even in FY19 will not be achieved due to the slower trends experienced in Q3 continuing into Q4. It said earnings were impacted by a number of factors such as first time deposits and deposits, including the continued effect of increasing UK regulations around player marketing and verification. It had previously predicted these metrics would improve in Q4.Forecasting a brighter FY2020, the company said it expects to go live with a number of new clients in the coming months.“In our B2C business, management has taken a number of actions in conjunction with the company’s partners, that are delivering positive underlying results,” Nektan chief executive Lucy Buckley said. “We expect this to translate into better performance including increased margins. “This, combined with a pipeline of new partners and product launches, underpins the board’s confidence that Q1 FY20 should see a return to quarter-on-quarter growth that has been delivered by the Company in nine out of the last 12 quarters.“Nektan’s B2B business continues to make exciting progress; our pipeline of opportunities is continuing to develop and has seen engagement with an increasing number of larger market participants globally. We expect a number of these to go live during the remainder of 2019, which has the scope to have a transformational impact on our business.“We continue to focus on moving to profitability and look forward to providing a more detailed update in our Q4 FY19 trading announcement in July 2019.”In its most recent quarterly statement, issued in April, Nektan reported a 5.9% year-on-year increase in revenue in Q3.While revenue for the three months ended March 31 was up from £5.1m (€5.9m/$6.7m) in the prior year to £5.4m, this represented a 15.6% decline from the second quarter of the current financial year. The supplier only released figures on revenue, staking and customer numbers in its trading update, meaning there was no update on its bottom-line performance.As Nektan mentioned in its results for six months ended December 31, 2018, this was down to factors such as seasonality, tighter UK regulations around player marketing and verifications and a delay in its Swedish operating licence being granted.These issues impacted its core white label operation in Q3, with B2C net gaming revenue down 17.7% year-on-year and flat sequentially at £5.1m. First time depositors were down 12.2% from the prior year at 31,914, and down from the 36,328 reported in Q2, while customer stakes fell 1.0% from FY2018 to £141m, a 16.0% month-on-month drop.A further 10 white label clients were signed up during Q3, with 152 sites currently live. 24th June 2019 | By contenteditor Email Address Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Nektan has issued a profit warning to investors as its decline in player deposits continued into the final quarter of its financial year. Finance Topics: Finance Tags: Online Gambling Nektan issues profit warning ahead of full year results
Regions: Europe Central and Eastern Europe Western Europe Germany Switzerland Austria Casino & games bet-at-home earnings soar in H1 Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Sports betting Email Address Betclic Everest Group’s central Europe-facing subsidiary bet-at-home has reported a year-on-year increase in net gaming revenue for the first half of 2019, with reduced marketing expenses boosting pre-tax earnings for the period. Gross betting and gaming revenue for the six months to 30 June, 2019 amounted to €71.1m (£64.1m/$79.1m), a 6.7% improvement on the prior year’s total, with amounts wagered climbing 5.6% to €1.59bn. While betting fees and gaming levies grew to €10.2m for the period, the value added tax (VAT) on electronic services declined to €2.2m, from €4.5m in H1 2018. This, the operator noted, led to faster than expected growth in net betting and gaming revenue, which was up 12.4% year-on-year at €58.7m.Due to the lack of a major sporting event in 2019, marketing expenses over the six months fell 21.2% to €16.7m. However, the operator remains committed to increasing brand awareness through international advertising campaigns across TV, print and online, supported by sponsorship deals and bonus promotions. As of 30 June, the operator had more than 5.1m registered customers, up marginally from 5.0m in the prior year.The decline in expenses and increase in revenue saw the operator’s earnings for the period soar. Earnings before interest, tax, depreciation and amortisation (EBITDA) almost doubled, growing 95.4% year-on-year to €21.3m. Earnings before tax (EBT) amounted to €20.4m, an increase of 98.1% from H1 2018. The operator did not release comprehensive earnings figures, however. Looking ahead, bet-at-home’s management board is projecting full-year revenue of between €130m and €143m in 2019, assuming there are no changes to the tax and regulatory environment in which it operates.This would represent a decline on the €143.4m generated in the operator’s 2018 financial year. This projected decline was attributed to legal uncertainty in the Swiss market, where a new regulatory framework in which only land-based operators are permitted to operate online came into force from 1 January. EBITDA for the year is expected to fall between €29m and €33m. Tags: Mobile Online Gambling 29th July 2019 | By contenteditor Betclic Everest Group’s central Europe-facing subsidiary bet-at-home has reported a year-on-year increase in net gaming revenue for the first half of 2019, with reduced marketing expenses boosting pre-tax earnings for the period.
Webis cuts losses despite lower customer spending Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Finance Sports betting Horse racing Subscribe to the iGaming newsletter Webis Holdings, parent company of WatchandWager, saw turnover – defined as total wagers minus winnings – increase to $8.1m (£6.2m/€7.1m) for the six months to 31 December 2019, and losses decline as it hopes to bounce back from the loss of a major customer in late 2018.Denham Eke, non-executive chairman of WatchAndWager said that, despite making a loss, the six months were a success, particularly in the B2C sector.“I am pleased to report that performance has been a little above expectation across our key sectors from December to the time of writing,” Eke said. “We have seen particularly good performance from our business-to-consumer unit and the racetrack in California.”The amount wagered in the six months came to $37.7m, down 38.3% year-on-year. Eke said that this decline was largely due to the loss of a major B2B syndicate, which was one of its largest customers.Eke added that the amount wagered from its business-to-consumer arm increased 10%.However, despite the lower stakes, turnover increased 49.8% to $8.1m. Webis said that a large reason for the improved margin was an effort to promote “high-margin racetracks and customers.”However, Eke described its B2B turnover as “largely flat,” even after accounting for the loss of the syndicate.“Whilst we continue to service a wide range of customers on a wide range of international tracks, this sector [B2B] is becoming increasingly competitive in nature,” Eke said. “In particular, we compete with a wide range of operators who seem intent on maximising the volume of amounts wagered at the expense of margin.“This is, of course, something of a race to the bottom and not commercially attractive, doing little to increase the value of the company for shareholders. As a result, we continue with our strategy of growing our team of players for as long as a reasonable margin can be maintained, and activity is permitted within our regulatory obligations.”Most of Webis’s turnover came from racetrack operations in North America, which brought in $7.6m. Advanced deposit wagering in the British Isles brought in $404,000 and in the Asia Pacific region $12,000.Webis added that its racetrack operation at Cal Expo in Sacramento, California “performed well” during the off-season racing events as international wagers at the racetrack increased.After a $6.2m expense because of costs of sales, up 73.9%, and a further $42,000 in betting duty, gross profit came to $1.8m, up 5.2%.Webis’s operating costs came to $2.0m, down 7.6% from 2018. After $60,000 in other income and $10,000 in other losses, the business’s operating loss came to $166,000, down 70.1% from 2019’s loss.After financial costs of $41,000, Webis made a loss of $207,000, down 65.7% year-on-year.Eke said he is optimistic for the future of Webis, with the loss of the syndicate allowing it to run “a more balanced business, with less reliance on one group of customers.” The business can become profitable again through a continued focus on higher margins and the United States, he added.“The board is confident that existing operations have now stabilised and can indeed return to profitability,” Eke said. “The operation is run leanly and whilst the external welfare issues impacting horse racing and greyhound racing are a concern, there remain significant opportunities, both domestic and international, for new player content.“Our strategy is to grow our platform through additional content and players, but continually focussing on higher-margin business. However, the Board recognise that the ultimate goal is to capitalise on the huge opportunities available within the USA’s expanded gaming landscape.” Finance Tags: Race Track and Racino Webis Holdings, parent company of WatchandWager, saw turnover – defined as total wagers minus winnings – increase to $8.1m (£6.2m/€7.1m) for the six months to 31 December 2019, and losses decline as it hopes to bounce back from the loss of a major customer in late 2018. 26th February 2020 | By Daniel O’Boyle Regions: US
Strategy AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Regions: Europe Western Europe Belgium The Belgian Gaming Commission (BGC) has published advice to help consumers protect themselves from gambling-related harm while the country remains on lockdown during the ongoing novel coronavirus (Covid-19) pandemic.Belgium began a nationwide lockdown on 18 March, and while this had been due to run to 5 April, the government this week extended the measures to 19 April. Plans are in place extend the lockdown further should the number of coronavirus cases and hospital admissions not decline by this date.The BGC said it is aware that during the period of lockdown, more people may access igaming services and potentially suffer gambling-related harm.As such, it has published consumer advice to help combat any potential issues, including allowing players to self-exclude from all licensed gambling websites in Belgium via email.The BGC said anyone concerned about their gambling habits can call the ‘SOS Jeux’ helpline and speak to an advisor about their problems. Consumers can also contact the BGC directly via email if they have any questions or concerns.In addition, the BGC advised players to keep in touch with family and friends on the phone or via video call to help pass the time during lockdown.“While gambling has never been the solution to any problem, the current situation could see people spending more time on the internet especially on gaming sites,” the BGC said. “In addition, many people lose social control because they are alone at home.“Thefore, there is a risk new players will become addicted or that existing players will sink further into addiction. It is of the utmost importance that the players, and in particular the vulnerable players, are not forgotten.”The BGC is the latest national regulator to offer support to consumers during the coronavirus crisis. The British Gambling Commission and Denmark’s Gaming Authority (Spillemyndigheden) have also issued advice to players.In addition, Gamstop, the UK’s online gambling self-exclusion scheme, urged people worried about gambling while at home during coronavirus lockdown to exclude from all igaming sites to protect themselves from harm. Email Address 3rd April 2020 | By contenteditor Belgian regulator provides advice for players in lockdown Subscribe to the iGaming newsletter Topics: Strategy The Belgian Gaming Commission (BGC) has published advice to help consumers protect themselves from gambling-related harm while the country remains on lockdown during the ongoing novel coronavirus (Covid-19) pandemic.
Casino & games Subscribe to the iGaming newsletter The week’s esports fixtures: 14 to 20 May 14th May 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter iGB, in partnership with Bayes Esports Solutions, is proud to present a regular list of fixtures for some of the most popular esports competitions, helping operators looking to expand into the esports market while the traditional sports calendar has been significantly reduced.This week, Counter-Strike: Global Offensive (CS:GO) contest the ESEA Premier Division’s North American leagues top the list in terms of fixtures, with 54 taking place in the coming week. The 34th season began late in April, and runs until 21 July, with last year’s event won by Triumph.Following in second is another CS:GO tournament, the Svenska Elitserien, with its 2020 Spring Regular Season. That concludes on 21 May.Next up the Dota 2-focused DPL CDA Professional League 2020 Season 1, run by the China Dota 2 Professional Associaiton (CDA). There are 17 fixtures taking place in that competition, and it runs until 24 May. Another Dota 2 event, also with 17 fixtures, is the ESL One 2020 Birmingham Regional Online League. This was originally meant to be a live event, starting on 26 May and taking place over five days, but was cancelled as a result of the novel coronavirus (Covid-19) pandemic, and repurposed as a series of online leagues. With a number of League of Legends-led seasons concluding in recent weeks, the schedule for that title has been significantly reduced. Just one fixture takes place in the BRCC 2020 Summer, a Brazil-based event which concludes on 16 May. This list is not yet exhaustive, and may be subject to change. Find out more about the Esports Directory here.Bayes Esports Solutions is the go-to provider for the esports data sector – for data right holders, consumers and service providers alike. The Berlin startup has developed BEDEX, the world’s first independent esports data marketplace for In-game data. Tags: Video Gaming iGB, in partnership with Bayes Esports Solutions, is proud to present a regular list of fixtures for some of the most popular esports competitions, helping operators looking to expand into the esports market while the traditional sports calendar has been significantly reduced. Topics: Casino & games Esports Sports betting Video gaming Email Address
Topics: Legal & compliance Sports betting Kenya betting tax removed as Kenyatta signs finance bill Regions: Africa East Africa Kenya Subscribe to the iGaming newsletter Kenyan President Uhuru Kenyatta has signed into law the country’s Finance Bill, which removes the 20% excise tax on sportsbook stakes that led to local operators Sportpesa and Betin exiting the market. Legal & compliance 1st July 2020 | By Daniel O’Boyle Email Address Kenyan President Uhuru Kenyatta has signed into law the country’s Finance Bill, which removes the 20% excise tax on sportsbook stakes that led to local operators Sportpesa and Betin exiting the market.The tax had been included in previous years’ budgets and was raised from 10% to 20% when last year’s Finance Bill was passed in September 2019. This increase led Kenya’s two largest operators, Sportpesa and Betin – which were each already embroiled in tax disputes with local authorities at the time – to put a halt to operations in the country.While the tax remained in an initial version of the 2020 Bill, the National Assembly’s Finance and National Planning Committee submitted an amendment to remove it. The amendment followed consultation from mobile payment provider Shade.co.ke, which called for the tax’s removal.At the time, the committee said “the reason behind [removing the tax] was that the high level of taxation had led to punters placing bets on foreign platforms that were not subject to tax and thereby denying the government revenue”.The amendment was then approved in the National Assembly and the finance bill was passed, sending it to Kenyatta’s desk. Finance Committee chair Joseph Kirui Limo noted when he introduced the amendment that the tax had led to revenue “going down” as operators left the market and bettors played with unlicensed operators.However, the bill receiving assent was not guaranteed, due to Kenyatta’s prior opposition to the betting industry.In August last year, Kenyatta called upon the country’s legislature to pass a total ban on gambling in the country, also warning that he expected bookmakers to pay in full any taxes considered to be owed to the authorities.“We have this thing called gambling and it’s so bad, I alone can’t finish it – go change the constitution,” Kenyatta said, according to local media reports.In November 2019, a report on possible changes to Kenya’s constitution suggested that the private betting industry should be shut down with a state-run national lottery taking its place. The Building Bridges Initiative (BBI) report, commissioned by Kenyatta’s administration, claimed that the private betting industry “is leading to hopelessness and greater poverty”.Despite this history, however, Kenyatta opted to sign the bill as passed in Parliament.Sportpesa declined to comment on the passage of the bill into law or the status of their plans to return to the market. The operator has been in discussions with Kenya’s government regarding a possible return for several months.Its ratification, however, means that both taxes which had been major sources of dispute between operators and the government have been removed or significantly altered.In August 2019 the operator cancelled all sports sponsorship agreements in the country after Kenyan authorities ordered telecoms companies to block payments to Sportpesa because of a dispute over a separate 20% tax on winnings, which authorities interpreted as including stakes.This interpretation of the tax left Sportpesa with a KES60.56bn (£483.7m/$586.4m/€528.1m) tax bill. The operator said at the time it was planning legal action against the Betting Control and Licensing Board and Kenyan Revenue Authority.In November that year, however, a court ruling determined that the operators’ interpretation – that this tax only applied to player winnings excluding the original stake – was correct, and that the tax was to be paid by bettors rather than operators.At the time, Sportpesa chief executive Ronald Karauri called the ruling a “significant development” for itself and the betting sector as a whole and said it would “reconsider” the future of its operations in Kenya. However, although minor changes have been made to Sportpesa’s Kenya-facing website since this time, players are still unable to place bets.In June, Betsson-owned operator Betsafe agreed two new sponsorship deals in Kenya, with Nairobi-based rivals Gor Mahia and AFC Leopards, both of which had previously been sponsored by Sportpesa. The operator said at the time it was planning to enter the Kenyan market “in the coming months”. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter
Analysing its performance, Evolution said revenue development mainly derived from increased commission income from existing customers. “Exceptionally high” activity leads to strong Q3 gains for Evolution 22nd October 2020 | By Robert Fletcher AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter North America’s contribution increased 50.8% to €9.2m, while revenue in other markets increased 62.4% to €15.1m. Evolution paid €10.6m in tax during the first nine months of the year, leaving it with a total profit of €204.0m, some 98.3% more than €102.9m at the end of September last year, with EBITDA also rising 85.7% to €236.0m. Finance Regions: Asia Europe UK & Ireland US “Regardless of the timing for regulation in additional states we know that Evolution is well positioned and that the US market is a long-term project with very high potential,” Carlesund said. Topics: Finance Tags: Evolution Finance Evolution paid €4.2m in taxes during the quarter, leaving it with a total profit of €79.4m, representing an increase of 99.5% on the €39.8m recorded last year. Personnel expenses were Evolution’s main outgoing in Q3, despite falling 6.5% to €31.5m. However, other operating costs were up 41.3% to €17.8m, while depreciation, amortisation and impairment expenses climbed 10.8% to €7.2m. “Our new game show style game – Crazy Time – was launched globally on 1 July and has been a great success; it is our most successful game launch to date,” chief executive Martin Carlesund said. During the third quarter, Evolution signed several new customers in the US, including BetMGM and PointsBet. Shortly after Q3 ended, the supplier also brokered agreements with William Hill and Wynn Interactive. “We see a fantastic potential in combining the two companies and continuing to deliver the best playing experiences for players across the globe,” he said. Revenue from regulated markets accounted for 45.2% of total revenue in Q3. Turning attention to spending in Q3, total operating expenses came to €56.4m, a 7.0% year-on-year rise, that resulted from investment in its expansion efforts. Operating profit for Q3 almost doubled from €42.0m last year to €83.6m, and after taking into account financial items, profit before tax was €83.5m, some 99.3% more than in 2019. “Instant roulette was also launched during the quarter and coming up in Q4 is the launch of craps. We continue to build our portfolio of unique innovative games both within traditional table games as well as game shows.” Carlesund highlighted growth in the US in particular, with the supplier having recently launched in Pennsylvania and has plans in place to further expand its presence in the wider US market. “The past quarter has also been a period of exceptionally high activity operationally within Evolution and after the end of the quarter we are live with our first tables in both Pennsylvania in the US, and Kaunas in Lithuania,” Carlesund said. Expenses for the period were up 11.7% to €168.6m, and after financial items, tax before profit in the nine months was €241.7m, an increase of 122.6% on 2019. NetEnt also posted its Q3 results today (22 October), posting a 119.6% year-on-year rise in third quarter profit, in a period that also saw revenue increase 17.5%. Carlesund also provided a short update on Evolution’s proposed acquisition of NetEnt, whereby it has agreed a deal worth SEK19.6bn to purchase the slots giant. Demand for live casino games continued to grow during the quarter, it added, thanks to its continuous launch of new titles and variations on traditional tables games. “Exceptionally high” activity levels in the third quarter of 2020 saw live dealer giant Evolution report strong growth in revenue and earnings for the period. In terms of how Evolution’s performance impacted its year-to-date results, the supplier said that for the nine months to the end of September, revenue stood at €383.5m, up 47.6% from €259.3m at the same point last year. Email Address Earnings before interest, tax, depreciation and amortisation (EBITDA) also jumped 86.4% to €90.4m. Subscribe to the iGaming newsletter “We are still dealing with the limitations imposed by novel coronavirus (Covid-19) but we are slowly coming back towards pre-Covid levels in number of tables.” According to Carlesund, Evolution hopes to close the deal before the end of 2020. Last week, Evolution extended the period for shareholders of NetEnt to accept its acquisition offer until 20 November, in order to allow the UK’s Competition and Markets Authority to investigate the deal. Total operating revenue for the three months to 30 September reached €140.2m (£126.6m/$166.3m), up 47.8% from €94.7m in the third quarter of 2019. “With increased studio capacity together with a continuous development of the very best products and services, we are well positioned to increase our market leadership within live casino going forward,” Carlesund said. In terms of geographical performance, Evolution saw significant growth in Asia, where revenue rocketed 150.4% year-on-year to €34.8m. Revenue from the Nordics slipped 4.9% to €5.8m and UK revenue fell 25.8% to €9.5m, but revenue from the rest of Europe jumped 41.1% to €65.6m.
Subscribe to the iGaming newsletter Galaxy Entertainment revenue steady in Q1 as casinos recover from pandemic “However, we do acknowledge the ongoing difficulties associated with COVID-19 and potential future flare ups of COVID-19 could have a material adverse impact on our financial performance.” Finance Galaxy Entertainment recorded revenue figures of HK$5.10bn (£470m/$660m/€540m) for the first quarter of 2021, marking a slight 0.5% increase from the same period last year. StarWorld Macau recorded net revenue of HKD1.01bn, HKD972m of which was from gaming. The Galaxy Macau casino proved to be the company’s biggest revenue source, bringing in HKD3.4bn. Although gaming revenue from the casino was down 5.9% to HKD2.88bn, the Galaxy Macau mall raised HKD292m – a 93.4% rise from last year. Galaxy chairman Dr. Lui Che Woo said: “Our balance sheet continues to remain healthy with $42.4bn in cash and liquid investments as at the end of Q1 and $33.6 billion of net cash. Total debt was $8.8bn, including $8.3bn associated with our treasury yield enhancement program and $500m of core debt. Tags: Galaxy Entertainment Regions: Asia Macau 13th May 2021 | By Nosa Omoigui Looking at the amount wagered, players staked HKD47.23bn at VIP tables Q1; HKD11.59bn was staked at mass tables, and HKD4.20bn in electronic games. for a total of HKD63.02bn. “Going forward in the medium to longer term, we remain confident in the future of Macau. We have seen signs of early recovery post the reinstatement of the Individual Visit Scheme (IVS) in late September 2020 and it may take a few more quarters for business volumes to ramp up. Topics: Finance Q1 results 2021 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Adjusted EBITDA for the quarter was up 203.5% to HKD859m, but down from the HKD1.0bn from the fourth quarter of 2020. Gaming revenue was the biggest contributor with HKD3.86bn – slightly down from HKD4.0bn last year – while non-gaming sources from resorts generated HKD598m. The operator’s construction materials division, meanwhile, brought in HKD641m. Email Address