Industry News
Betsson Publishes Interim Report for Q2 2023
Betsson AB has published its interim report for the second quarter of 2023.
Highlights
- Group revenue was EUR 236.8 (186.3) million, an increase of 27%. Organic increase of 43%.
- Casino revenue increased by 35%. Sportsbook revenue increased by 13% and the sportsbook margin was 8.2% (8.3%).
- EBITDA was EUR 67.6 (39.3) million, an increase of 72%. The EBITDA margin was 28.5% (21.1%).
- Operating income (EBIT) was EUR 54.5 (29.2) million, an increase of 87%. The EBIT margin was 23.0% (15.7%).
- Net income was EUR 46.9 (28.6) million, corresponding to EUR 0.37 (0.21) per share.
- Operating cash flow was EUR 89.2 (37.8) million.
- Net debt was EUR -138.8 (-19.8) million.
- Active customers decreased by 10% to 1,119,803 (1,246,719).
- Acquisition of the Belgian B2C operator betFIRST.
CEO Comments
“I am pleased to look back at another record quarter for Betsson with continued high customer activity and strong financial performance. During the second quarter of 2023, revenue increased by 27 percent and operating profit (EBIT) by 87 percent, compared to the corresponding quarter last year. New revenue records were set in both B2C and B2B. The EBIT margin increased to 23.0 (15.7) percent.
“Betsson’s long history of profitable growth is based on diversified revenues, both in terms of products and geographic markets. As before, the business generates strong cash flows, and the robust balance sheet constantly facilitates new growth initiatives. It is the mix of investments in new markets, organically and via acquisitions, that has contributed to the good financial performance over time. The geographical diversification continues to serve Betsson well and revenues increased in all regions during the quarter. In particular, Central and Eastern Europe and Central Asia (CEECA) continued to show high growth.
“In June, the leading Belgian sports betting operator betFIRST was acquired and at the same time a new strategic partnership was entered into with the publicly listed French casino operator Groupe Partouche to offer online casino games in some regulated markets, with Belgium being the first country for this collaboration. These strategic initiatives together enable a competitive offering in sports betting and casino for the Belgian market. The investment in Belgium resonates well with Betsson’s ambition to deliver long-term profitable growth.
“In June, an important sponsorship was entered into with the long-standing Argentinian football club Boca Juniors, previously home to perhaps the greatest player ever in football history, Diego Armando Maradona. The sponsorship, one of the largest ever for Betsson, means that the club’s iconic match shirt will feature the Betsson logo during local and international matches until the end of 2024. The collaboration with Boca Juniors strengthens Betsson’s brand and rapid expansion in Argentina and throughout Latin America, and we will be following the team’s development with excitement together with fans and customers.
“We look forward with confidence to the second half of the year, with continued investments into geographic expansion and constant further development of Betsson’s offering to future-proof our competitiveness.”
Asia
SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’
The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region
With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.
In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.
This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.
“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”
Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.
Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.
The post SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’ appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
Industry News
IGT Reports First Quarter 2024 Results
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
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