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bet-at-home.com AG: Group figures for the first quarter of 2020

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Group figures for the first quarter of 2020 (01.01. to 31.03.2020):

  • Gross betting and gaming revenue at EUR 32.2 million
  • EBITDA in the first quarter of 2020 at EUR 9.0 million
  • Cash and short-term time deposits at EUR 55.3 million

 

Revenue development in Q1 2020

As a result of the COVID-19 pandemic, the immediate stop in European sports in mid-March 2020 led to a drop in sales in the online sports betting segment, although above all the short-term expansion of eSports as well as sport events in “more exotic” leagues, contributed to keep up the betting offer within the bet-at-home.com AG Group. The online gaming segment remained nearly unaffected by any protective measures due to the purely virtual variety of entertainment offers and was responsible for 57.6% of gross betting and gaming revenue in the first quarter of 2020.

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Overall, gross betting and gaming revenue in the first quarter of 2020 was EUR 32.2 million, 13.4% below the previous year’s figure (Q1 2019: EUR 37.2 million). The decline in gross betting and gaming revenue is mainly due to the loss of essential parts of the Swiss market and the significant decline in the Polish market.

The betting and gaming volume in the bet-at-home.com AG Group totaled EUR 677.8 million in this period (Q1 2019: EUR 827.3 million).

Betting fees and gaming levies were at EUR 5.6 million in the first quarter of 2020 (Q1 2019: EUR 5.3 million). In the same period, VAT on electronic services had a negative impact on earnings of EUR 1.1 million (Q1 2019: EUR 0.9 million).

Accordingly, the net betting and gaming revenue amounted to EUR 25.5 million in the first quarter of 2020 (Q1 2019: EUR 31.1 million).

 

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Brand awareness increased despite the lack of sport events and postponement of Euro 2020

According to the absence of numerous sporting events from mid-March 2020, fewer bonus offers were taken up by our customers. Therefore the total marketing expenses in the first quarter of 2020 were EUR 6.6 million and thus below the comparative value of the previous year (Q1 2019: EUR 8.2 million).

With regard to the European Football Championship, which was originally scheduled for 2020, bet-at-home was able to immediately adjust its marketing strategy to the postponement by one year, so that no significant marketing agreements with a focus on the planned major event were concluded in the reporting period and beyond. As a consequence, bet-at-home will set its marketing focus on the second quarter of 2021.

As at 31 March 2020, the bet-at-home.com AG Group had 5.3 million registered customers (31.03.2019: 5.1 million).

 

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Earnings development in the first quarter of 2020

In the first quarter of 2020, EBITDA amounted to EUR 9.0 million and was therefore below the very strong prior-year period (Q1 2019: EUR 12.7 million), but could outperform the previous quarter (Q4 2019: EUR 8.2 million). Earnings before taxes (EBT) were at EUR 8.5 million (Q1 2019: EUR 12.2 million).

 

Stable asset and capital structure

As a result of the contribution to earnings made in the current reporting period, Group equity increased to EUR 47.5 million as of 31 March 2020 (31.12.2019: EUR 41.6 million), resulting in a consolidated equity ratio of 48.9% (31.12.2019: 43.7%).

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The bet-at-home.com AG Group also held liquid assets and short-term time deposits in the amount of EUR 55.3 million as of 31 March 2020 (31.12.2019: EUR 54.8 million).

 

Outlook for the fiscal year 2020

From the current perspective, the Management Board still expects a gross betting and gaming revenue between EUR 120 million and EUR 132 million in the financial year 2020. The decline in gross betting and gaming revenue compared to the financial year 2019 is attributable to the loss of essential parts of the Swiss market and the significant decline in the Polish market. A potential decline in revenues due to regulatory changes in Germany can currently not be estimated and is therefore not considered.

Furthermore, the Management Board still expects EBITDA to amount between EUR 23 million and EUR 27 million for the financial year 2020.

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About bet-at-home:

The bet-at-home.com AG Group is active in the domain of online gaming and online sports betting. With 5.3 million registered customers, the company (which is listed on the Frankfurt stock exchange) represents, together with its subsidiaries, one of Europe’s most successful online betting and online gaming providers. The varied options offered on www.bet-at-home.com include sports betting, poker, casino, games and virtual sports. bet-at-home has companies in Germany, Austria, Malta and Gibraltar. The successful development of the company can be attributed to its 292 employees as at 31 March 2020. The Group holds various licenses via its Maltese companies for online sports betting and gaming. The licenses allow the company to organize and market online sports betting and online casinos. Since 2009, bet-at-home.com AG has been a part of the Betclic Everest SAS Group, which is a leading French Group in the domain of online gaming and sports betting.

 

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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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