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Betsson Publishes Interim Report for the Third Quarter of 2023

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Betsson has published its interim report for the third quarter of 2023.

Highlights

  • Group revenue was EUR 237.6 (200.3) million, an increase of 19%. Organic increase of 39%.
  • Casino revenue increased by 27%. Sportsbook revenue increased by 2% and the sportsbook margin was 7.3% (8.3%).
  • EBITDA was EUR 68.9 (48.6) million, an increase of 42%. The EBITDA margin was 29.0% (24.3%).
  • Operating income (EBIT) was EUR 56.0 (38.4) million, an increase of 46%. The EBIT margin was 23.6% (19.2%).
  • Net income was EUR 46.2 (32.6) million, corresponding to EUR 0.35 (0.24) per share.
  • Operating cash flow was EUR 44.9 (38.5) million.
  • Net debt was EUR -65.5 (-54.7) million.
  • Active customers increased by 17% to 1,237,238 (1,056,400).

CEO Comments:

Betsson’s third quarter 2023 featured continued high customer activity, strong financial development and further investments in product and new markets. Revenue increased by 19%, driven by casino games, while earnings before interest and taxes (EBIT) increased by 46% compared to the corresponding quarter of the previous year. The revenue and EBIT, which include the acquisition of betFIRST, were the highest ever for Betsson in a single quarter and mark the seventh quarter in a row with sequential growth.

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Active customers and deposits increased significantly during the quarter, and turnover was high in both casino and sports betting. The sportsbook margin was 7.3% (8.3) for the quarter and was negatively affected by many favourite wins and goal-rich games during the start of the European football leagues.

Revenue for the Group growth was broad-based with high growth in all major regions except for the Nordics. The geographical expansion continues and several new milestones were passed during the quarter; betFIRST in Belgium was included in the Betsson Group, a launch took place on the locally regulated market in Serbia and a local license for sports betting was obtained in France, where go-live is expected in the fourth quarter. France is an important gaming market in Europe with large long-term potential for online gaming and we now take a first step to be able to offer French players a first-class experience in sports betting. At the end of the summer, the brand Betsson was also introduced in Denmark, which strengthens the Group’s position on the Danish market.

B2B is an important part of Betsson’s growth strategy and work continues to strengthen the B2B offering. In September, Betsson’s sportsbook solution was launched with the operator Bethard.

During the quarter, Betsson’s first-ever global advertising campaign was launched. The theme “A bet makes the difference” focuses on the excitement and entertainment that comes from placing a bet, on sports or casino, rather than the chances of winning. The campaign is part of the marketing strategy to establish Betsson as the Group’s global main brand, aiming to achieve economies of scale and competitive advantages for the business in the long run.

I look forward with confidence to the final sprint of the year. Geographical diversification, a solid balance sheet and strong cash flows create good conditions for continued investments in profitable growth to deliver long-term value creation for our shareholders.

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Navajo Gaming Appoints John James as Chief Executive Officer

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Navajo Gaming has appointed John James as its Chief Executive Officer.

John James brings more than two decades of professional gaming and hospitality experience to Navajo Gaming. He previously served as CEO of River Rock Entertainment Authority in Geyserville California. There he exemplified his strong leadership skills by identifying and implementing innovative operational improvements to grow revenue while improving morale through thoughtful strategic direction and mentoring.

Prior to that, he led numerous tribal casinos including serving as CEO of Muckleshoot Casino Resort in Washington, CEO of Soboba Casino Resort in California, COO of Morongo Casino Resort & Spa in California, and CEO of Gila River Gaming Enterprises in Arizona. Additionally, he has served in leadership positions for Seminole Gaming Inc., Pechanga Resort and Casino, and various successful Station Casino properties.

As CEO of Navajo Gaming, John James will oversee and manage Navajo Gaming properties in New Mexico and Arizona, as well as ensure that Navajo Gaming policies and objectives are met. His three main objectives are to strengthen Navajo Gaming and the hospitality economy, return revenue to the Navajo Nation, and provide additional jobs to members of the Navajo Nation.

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“Navajo Gaming has grown to a multi-million-dollar enterprise over the past 15 years. John James brings extensive gaming and management experience and leadership qualities to lead Navajo Gaming. James has been widely recognized as the industry’s ‘best of the best’ for his exceptional strategic and positive impact. He will stimulate continued growth and success for Navajo Gaming as we remain focused on job creation and enhancing the Navajo economy,” Quincy Natay, Chairman of the Navajo Gaming Board of Directors, said.

“I am honored to serve Navajo Gaming’s team and guests under the stewardship of the board and alongside such a strong management team. Our industry is transforming rapidly and there is tremendous opportunity for Navajo Gaming to capitalize on opportunities, elevate guest experiences and solidify our reputation as exceptional destinations where memories are made,” John James said.

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Dominique Dawes

Ocean Casino Resort to Open Olympics-themed Medal Bar

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Ocean Casino Resort announced the opening of Medal Bar: The Summer Games Pop Up Experience, located at 1927 Lounge on the casino floor across from The Gallery. Medal Bar’s opening ceremony will take place on Friday, June 28 hosted by Gold Medal Winning Gymnast, and member of Team USA’s Magnificent Seven, Dominique Dawes.

“We are so excited to embrace this celebratory global event as only Ocean can. From specialty themed cocktails and décor to iconic athletes and gaming activations; Medal Bar will be a must-see destination for our guests this summer,” Kelly Burke, SVP and Chief Marketing Officer for Ocean Casino Resort, said.

Located at 1927 Lounge, Medal Bar will offer an international flair with Americana spirit and a nod to the host country (Paris). Social moments and nostalgia will abound throughout the venue where guests can go for the gold in a myriad of ways including sipping worldly drinks and flights, playing games, cheering on their favorite athlete, and more. The festivities kick off on Friday, June 28 with an appearance by Olympic Gold Medal Winning Gymnast Dominique Dawes and will extend through Labor Day Weekend. Normal operating hours will be Thursday and Friday, 5 pm to 12 am, Saturday, 3 pm to 1 am and Sunday, 5 pm to 12 am. Medal Bar will be open daily from Friday, July 26 through Sunday, August 11 showcasing all of the thrilling events and competitions.

Guests can also celebrate the start of summer with the 3rd annual North Beach Fireworks Spectacular on Friday, June 28 at 9:30 pm. The demonstration, in partnership with Fireworks by Grucci, will showcase a dazzling ocean-front fireworks display presented by North Beach Atlantic City with several viewing locations including The Park and the world-famous Atlantic City Boardwalk. The event will be open to the public.

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idPair Inc

National Voluntary Self-Exclusion Program (NVSEP) to Begin Free Self-Exclusion Assistance in Four US Jurisdictions

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idPair Inc., an award-winning provider of safer gambling technology, announced the upcoming launch of free self-exclusion assistance in Colorado, Iowa, Michigan, and Tennessee this August, as part of the first phase of the National Voluntary Self-Exclusion Program (NVSEP). Where states require a notarized form, a free remote online notary will be provided through the NVSEP platform to remove any cost for individuals. Importantly, there will be no changes to the respective state programs or how operators receive and process the self-exclusion information as part of this initiative.

Depending on the state, self-exclusion options will be available for casinos, online sports betting, online casino, online poker, fantasy sports, and/or horseracing. Each jurisdiction has its own unique gambling landscape, and individuals seeking to self-exclude are encouraged to visit www.NVSEP.com/jurisdictions to learn more, including which products and properties have a supported option.

Jonathan Aiwazian, CEO of idPair, said: “For the first time ever, individuals seeking a wider level of protection can self-exclude from multiple states in a streamlined fashion. While today we announce our ability to provide free assistance with self-exclusion in each of these 4 states, more jurisdictions are on the way, as we accelerate toward our goal of removing barriers for people seeking protection across all gambling jurisdictions and products.”

With future phases of NVSEP planning a deeper level of integration and potential to directly connect with the Player Account Management (PAM) systems of gambling operators, gambling regulators can one day ensure that voluntary self-exclusions are instantaneously processed, providing immediate protection for those who opt-in to the program, a major leap in efficiency to the current processing times in some existing programs.

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NVSEP’s announcement of assisting consumers with Colorado, Iowa, Michigan, and Tennessee self-exclusions is the first step in a broader effort to expand responsible gambling measures nationwide.

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