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1X2 Network Appoints Reid as Director of Accounts

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1X2 Network has appointed Chris Reid as director of accounts.

Reid will lead 1X2 Network’s account management team, taking responsibility for commercial performance and the global client base of the igaming supplier.

Having joined the company in 2018, Reid has been with 1X2 Network for five years. He has been instrumental in the company’s growth in his previous position as commercial and financial manager. As director of accounts, he will now be responsible for developing and enhancing the client offer, tapping into new markets and developing stronger integrations.

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Alex Ratcliffe, CPO at 1X2 Network, said: “Chris is a long-standing member of the 1X2 Network team and had played a key role in various departments through the years. I’m very excited to see him take on the challenge of heading our account management team. Chris will bring his renowned positive and data-driven approach to the role that I believe will be key to his success as it has been before.”

Reid, the new director of accounts at 1X2 Network, said: “I’m thrilled to embark on this new opportunity at 1X2 and am looking forward to being more hands-on with our global client base. I’m excited to contribute to maintaining the company’s position as a premier supplier of igaming content. My previous position at 1X2 allows me to hit the ground running with the team and make great strides into the future.”

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Press Statement from Hard Rock International Related to Star Entertainment Announcement

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Hard Rock International has released the following statement denying the report from Star Entertainment Group regarding potential transactions between the companies.

“Hard Rock International would like to address recent reports regarding a proposed purchase of the Star Entertainment Group Limited (Star) in Australia. We want to make it clear that Hard Rock International is not involved in, nor has it authorized, any discussions, activities or negotiations on its behalf in connection with a proposed bid for Star. Hard Rock International has similarly not authorized the use of the Hard Rock brand in connection with any proposed bid for Star by any third party.

“Our brand is built on a legacy of integrity, excellence, and a commitment to our guests, partners, and team members worldwide. Any misuse of the Hard Rock name in unauthorized business dealings is taken very seriously. We are currently investigating this matter and will pursue all necessary legal actions to protect our brand and reputation.

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“We urge stakeholders and the public to rely only on official communications from Hard Rock International for accurate information regarding our business activities and partnerships.”

The post Press Statement from Hard Rock International Related to Star Entertainment Announcement appeared first on European Gaming Industry News.

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Dubravka Burda

IGT Continues Multi-Level Progressive Momentum with New Tiger and Dragon Game on the PeakCurve49 Cabinet

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International Game Technology PLC announced that its new multi-level progressive (MLP) game, Tiger and Dragon, recently debuted on casino floors across the US. Available on the sleek PeakCurve49 cabinet, Tiger and Dragon combines new and proven mechanics with high bonus frequencies for an action-packed entertainment experience.

“We made a commitment to advancing IGT’s game performance with strong multi-level progressive content and leveraged our extensive research and focus group capabilities to achieve this with the award-winning Prosperity Link and Mystery of the Lamp MLP games. Bolstered by our strong momentum in the MLP space, we combined proven game mechanics with exciting new features and gameplay in the development of Tiger and Dragon. We’re excited to unveil this extremely fun and entertaining game with our casino operator partners and their players,” said Dubravka Burda, IGT SVP Global Studios.

The Tiger and Dragon MLP is available in two base games, Multiplier and Cash On Reels. Both games feature three unique bonuses: Tiger, Dragon, and the combined Tiger and Dragon bonus. The game introduces an entirely new lock-and-respin and reveal bonus structure featuring money ball symbols with credit values that can combine. In another new game mechanic, when gong symbols on reels land in the same row, monetary winnings are revealed. Adding to the gameplay excitement are the game’s “up arrows” that appear on reels and increase credit values exponentially.

The game’s Tiger bonus presents win opportunities on a 3×5 reel matrix, and both the Dragon bonus and the combined Tiger and Dragon bonus advance the reels to an 8×5 reel matrix for big win potential. The vibrant game stands out on the gaming floor on the PeakCurve49 cabinet with unique merchandising options, vivid graphics, and LED signage.

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Entain: Capital Allocation Committee Update

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Entain, the global sports betting and gaming group, announced the conclusion of a strategic review by the Board’s Capital Allocation Committee (CapCo) of Entain’s portfolio of markets, brands and verticals, which commenced in January 2024.

With the objective of maximising shareholder value and reflecting the operational progress of the business, the conclusions of the review are:

  • Entain has the appropriate portfolio of diversified strategic assets, brands, capabilities and geographic footprint to ensure it is well positioned to deliver high quality long term growth.
  • There remains significant upside by focusing on delivery of the Group’s strategy of returning to organic revenue growth, expanding margins and winning in the US.
  • Entain’s balance sheet and leverage position is robust and has been strengthened by the recent extension of Entain’s RCF and term loan repricing and add-ons.
  • Crystalbet, the leading gaming brand in Georgia, is non-core to the Group. As such, strategic alternatives for this business will be considered, including interest already received from potential acquirers.

As part of this review, the CapCo considered developments in Entain’s key markets and the operational progress made towards its strategic objectives including:

  • Brazil returning to strong double-digit revenue growth during Q2, with actions taken to improve customer acquisition and retention accelerating the performance.
  • The levelling of the regulatory playing field in the UK with the new voluntary industry code on customer safer gambling checks and implementation of industry wide slots limits from September, together with improving customer offer, support expectation of returning to growth later this year.
  • Delivery of the product roadmap for BetMGM is progressing well, including recently launched MLB and NBA sports betting markets supported by Angstrom’s unique capabilities, particularly in parlay products.
  • On 16 May 2024, the Nevada Gaming Commission unanimously approved the applications of Entain and certain of its subsidiaries without limitation.
  • Entain CEE is performing well and the outlook for online casino liberalisation in Poland is increasingly encouraging.
  • Project Romer is on track to deliver targeted cost savings through simplifying Entain’s operations and improving efficiency.

Following the review, the CapCo will continue to regularly review strategic progress and consider options to maximise shareholder value, including ongoing oversight of all significant aspects of capital commitments.

Barry Gibson, Chairman of Entain, said: “I am delighted that the Capital Allocation Committee has concluded its strategic review of our portfolio. Whilst we still have more work to do to improve our operational performance, the Board is pleased with the progress Entain is making so far in 2024 in line with our strategy. The Group has the core strengths, brands and products to be competitive across its markets and continues to be a global leader in betting and gaming. The Board looks forward to updating the market further on its progress at the interim results in August.”

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The post Entain: Capital Allocation Committee Update appeared first on European Gaming Industry News.

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