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Scout Gaming publishes Q4 2019: Revenues increased 117% to mSEK 10.0

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”I’m happy to once again report a quarter undergoing solid growth, revenues increased by 117% to mSEK 10.0. We are experiencing an accelerating global demand for Scout Gaming’s products, which has resulted in an increased client activity both in terms of number of clients and number of products launched on each client.

Scout Gaming Operator Trading Index which illustrates the underlying client activity amounted to 1035, which is more than a tenfold increase since initiation and compared to the corresponding quarter previous year an increase amounting to 66%. The current growth is a result of previous signed agreements and proves that we are starting to experience results from previous investments in product and organization.

EBITDA improved from mSEK -15.8 to mSEK -8.1. Cash flows from operating activities improved from mSEK -11.2 to mSEK -2.6 during the current fourth quarter. We have a situation where we both have positive operational cash flow and EBITDA result within reach but also facing great growth possibilities.”

Extract from CEO Andreas Ternstrom’s commentary to the Year-end Report.

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Quarter: October – December 2019
• Revenues increased to mSEK 10.0 (4.6), corresponding to a growth of 117% compared to same quarter last year

• EBITDA improved to mSEK -8.1 (-15.8)

• Net result improved to mSEK -13.3 (-17.8)

• Earnings per share amounted to SEK -0.9 (-1.4)

• Operator trading index (which illustrates the underlying client activity) increased to 1035 (625), a growth of 66%.

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• Scout Gaming Group successfully launched with the operator brand Betway, initially for the African market under Betway’s African licensee partner. Betway was founded in 2006 and is among the leading global operators. The brand is currently operating under local licences in a number of jurisdictions.

• Scout Gaming Group appointed Terje Bolstad to Group COO. Terje has an overall organizational responsibility for the Group as it now moves into an intense growth phase.

Full year: January – December 2019
• Revenues increased to mSEK 25.7 (14.6)

• EBITDA was mSEK -42.8 (-37.0)

• Net result was mSEK -52.2 (-45.8)

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• Earnings per share amounted to -3,8 kr (-3,6)

 

Events after the period ended
• Scout Gaming Group entered into an omni-channel agreement with Allbet to deliver the company’s Daily Fantasy Sports platform. Allbet is currently operating in the locally licensed Namibian market both online and land-based.

• Scout Gaming Group conducted directed share issues corresponding to approximately mSEK 36 towards institutional and industrial investors. Subscribers were Topline Capital Management, Tekkorp LLC, Enlabs AB (publ), Knutsson Holdings AB, and Novobis AB among others.

Scout Gaming Group will supply Norsk Tipping with its fully fantasy sports offering after winning a tender and signing a contract with the Norwegian state-governed entity.

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• Scout Gaming has entered into an agreement with Bet Entertainment Technologies to deliver the company’s Daily Fantasy Sports platform. The agreement gives Bet Entertainment Technologies full access to Scout Gaming’s DFS platform enabling them to offer a complete Daily Fantasy Sports solution to all its customers in the international market. Bet Entertainment has growing operations in South America and is active in Portugal with bet.pt, considered to be the largest sports operator in the locally licensed Portuguese market.

• Scout Gaming Group has signed a distribution agreement with NetEnt, which will give NetEnt’s customers access to Scout Gaming’s entire product offering. Scout Gaming is currently being integrated on NetEnt’s platform and will be available to NetEnt’s customers shortly.

Adam Wexler

PrizePicks Announces New Chief People Officer and Key Responsible Gaming Hire

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PrizePicks, the largest daily fantasy sports operator in North America, announced the hiring of Renee White as its Chief People Officer (CPO), reporting to Co-founder and Chief Executive Officer Adam Wexler. The company also announced the appointment of Phil Sherwood as Senior Director of Responsible Gaming.

Renee White: White will build upon PrizePicks’ incredible people operations team to help lead the company through its next phase of growth and expansion, bringing decades of experience from blue chip organizations. Most recently, White spent nearly two decades at Warner Bros. Discovery in various leadership roles, delivering strategic guidance to senior-level management, demonstrating a deep understanding of complex organizational structure and operations. She last served as the Head of People & Culture for Turner Sports, Bleacher Report and Turner Studios, leading the HR function, guiding long-term strategy along with building a diverse and inclusive culture. White started her career with Turner Broadcasting supporting several divisions within the organization including the Atlanta Braves as their HR Manager. White will be based in Atlanta and serve as a member of PrizePicks’ executive leadership team.

Phil Sherwood: Sherwood will lead the evolution of PrizePicks’ responsible gaming initiatives to continue fostering a safe, responsible and secure daily fantasy sports experience. His unique perspective and strategic vision will help position PrizePicks as the gold standard in responsible gaming within the fantasy sports industry. Sherwood most recently served as Chief Communications Officer at the Massachusetts Council on Gaming and Health (MACGH) spearheading groundbreaking initiatives such as the first statewide Remote Voluntary Self-Exclusion (VSE) Program and led the creation of a 24/7 LiveChat platform. Prior to MACGH, Sherwood was the President of the Board of Directors for the National Council on Problem Gambling (NCPG) where he drove significant advancement in responsible gaming on a national scale.

“Renee and Phil bring invaluable experience that will accelerate our growth as a company. Renee’s storied career as a people leader and her ties to the Atlanta community cannot be understated; having her join us at such a crucial phase for the company is pivotal. Combined with Phil expanding upon our responsible gaming initiatives, I’m excited to see both play a role in ensuring our business continues to prioritize its two most valued assets: our people and our players,” Adam Wexler, Co-founder & CEO of PrizePicks, said.

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Adam Wexler

PrizePicks Extends Partnership as Official Daily Fantasy Sports Partner of the Atlanta Braves

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PrizePicks, the largest daily fantasy sports operator in North America, announced that the company has reunited with the Atlanta Braves as the club’s Official Daily Fantasy Sports Partner for the 2024 season. The partnership extends a longstanding relationship that dates back to 2020, with the two Atlanta-based companies continuing to work together on unique opportunities for their dedicated fans.

“We are thrilled to continue our ever-growing relationship with the Atlanta Braves. As a homegrown company born in Atlanta, it is a priority for us at PrizePicks to engage with local fans by continuing to bring amazing experiences to Braves Country,” Adam Wexler, CEO and Co-founder of PrizePicks, said.

PrizePicks will receive out-field LED signage as well as prominent signage throughout Truist Park. The company will also gain access to VIP experiences throughout the baseball season, including a “Pick of the Game” that will be featured on the Braves Radio Network pregame radio show for all 162 regular season games.

“PrizePicks has been a valued partner for years. They are the leader in their industry and a prominent local Atlanta business, and we are happy to extend our relationship with them for the 2024 season,” said Jim Allen, Atlanta Braves Senior Vice President of Corporate and Premium Partnerships.

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Adam Wexler

PrizePicks Announces Plans for New, Expanded Headquarters in Atlanta

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PrizePicks, the largest daily fantasy sports operator in North America, announced plans for its new 33,000 square foot Atlanta Headquarters, which will be located in the Star Metals Building in Midtown Atlanta. The company plans to grow its workforce by 1000 new jobs over the next seven years, the economic impact of which will be $25M to the state of Georgia.

“Atlanta has always been our home, where we are redefining mobile sports entertainment. This move to Star Metals will help us create more world-class, high-skilled and high-wage jobs in our great city while we deepen our connections across the community,” Adam Wexler, Co-founder and CEO of PrizePicks, said.

Star Metals is a pioneering mixed-use district in Atlanta’s thriving West Midtown neighborhood. This new development raises style and luxury to new heights along the Howell Mill Road corridor. Inspired by the history of West Midtown and its cultural resurgence, Star Metals is playing a key role in forging the future of an ever-evolving Atlanta.

“Georgia continues to be a driver of tech growth and innovation, attracting innovative companies with its unique mix of talent and infrastructure. Today’s announcement is a reminder of our strength in both welcoming new projects as well as creating an atmosphere where existing businesses can expand and thrive. I look forward to seeing the impact of these thousand jobs on the Atlanta community,” said Governor Brian Kemp.

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“Congratulations to Adam Wexler and the team at PrizePicks for choosing Atlanta to expand their headquarters. Metro Atlanta has all the ingredients to help PrizePicks thrive, including diverse tech talent graduating from our leading colleges and universities, global connectivity through our airport, a large and engaged business community and a desirable quality of life,” said Katie Kirkpatrick, president and CEO of the Metro Atlanta Chamber.

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