Canada

PLAYMAKER REPORTS THIRD QUARTER 2021 RESULTS HIGHLIGHTED BY STRONG ORGANIC GROWTH

Published

2 years ago

November 15, 2021

Playmaker Capital Inc. (TSX-V: PMKR) (“Playmaker” or the “Company”), the Toronto-based digital sports media company, today reports its financial results for the third quarter ended September 30, 2021.

“We are excited to share our results from the third quarter and the continuation of the progress that we have made since our Q2 earnings release in August. In Q3 we have begun to see the results of the execution of our roll up strategy with the acquisitions of Yardbarker and Two-Up. We acquired two companies but at the same time focused on the organic growth of our existing portfolio of companies and on the realizable synergies between them. We are seeing strong momentum from all three levers of our growth engine – organic, acquisition, and synergies – and we will continue our efforts to maximize each one. We continue to build our pipeline, as evidenced by the recently announced acquisitions of VarksySports, SuperPoker and The Nation Network. The integration of these companies is well underway, and we are thrilled with the level of collaboration between our companies and the shared vision of building a market-leading sports media business.” said Jordan Gnat, Founder and CEO of Playmaker.

FINANCIAL HIGHLIGHTS (Figures in USD)

Revenue – Revenue was $4.8 million in Q3 2021, compared to $nil in Q3 2020.
Operating Income – Operating income was $1.0 million in Q3 2021, compared to $nil in Q3 2020.
Pro Forma Revenue (including acquisitions through the end of Q3) – Including the results of Futbol Sites LLC (“Futbol Sites”), YB Media LLC (“Yardbarker”) and Two-Up Agency Ltd. (“Two-Up”) on a pro forma basis, revenue was $5.6M in Q3 2021, an increase of 109% from $2.7M in Q3 2020. For the nine months ended September 30, 2021, pro forma revenue was $13.8M, an increase of 130% from $6.0M in the prior year.
Pro Forma Adjusted EBITDA (including acquisitions through the end of Q3) – Including the results of Futbol Sites, Yardbarker and Two-Up on a pro forma basis, adjusted EBITDA was $2.5M in Q3 2021, an increase of 153% from $1.0M in Q3 2020. For the nine months ended September 30, 2021, pro forma adjusted EBITDA was $5.3M, an increase of 294% from $1.3M in the prior year.
Pro Forma Revenue (including all acquisitions to date) – Including the results of Futbol Sites, Yardbarker, Two-Up, The Nation Network (“TNN”) and Grupo SuperPoker (“SuperPoker”) on a pro forma basis, revenue was $6.3 million in Q3 2021, an increase of 104% from $3.1 million in Q3 2020. For the nine months ended September 30, 2021, pro forma revenue increased by 118% to $15.7 million from $7.2 million in the same period of 2020.
Pro Forma Adjusted EBITDA (including all acquisitions to date) – Including the results of Futbol Sites, Yardbarker, Two-Up, TNN and SuperPoker on a pro forma basis, adjusted EBITDA was $2.6 million in Q3 2021, an increase of 125% from $1.2M in Q3 2020. For the nine months ended September 30, 2021, pro forma adjusted EBITDA increased to $5.8 million from $1.7 million in the same period of 2020, an increase of 251%.
Trailing 12-Month Metrics – Including all acquisitions to date, for the 12 months ended September 30, 2021, pro forma revenue was $20.6 million, representing 85% organic growth over the previous 12-month period, and pro forma adjusted EBITDA was $8.2 million.
Cash and Cash Equivalents – Cash and cash equivalents were $13.4 million as at September 30, 2021 compared to $6.6 million at December 31, 2020.

OPERATIONAL HIGHLIGHTS

On July 26, 2021, the Company acquired Yardbarker, a premier U.S. sports and entertainment media company, and the Morning Bark, Yardbarker’s daily email newsletter.
On August 31, 2021, the Company acquired Two-Up Agency, a leading provider of technical solutions to the online gaming industry’s strongest brands.
On November 2, 2021, the Company significantly strengthened its presence in Canada by acquiring TNN and its wholly-owned subsidiary, Daily Faceoff (“DFO”). TNN is an Edmonton-based, hockey-first digital media group that attracts millions of sports fans annually to its network of fan community sites, podcasts, and rapidly growing hockey reference property, DFO.
On November 3, 2021, Playmaker acquired leading Brazilian media company SuperPoker.
On November 1, 2021, the Company announced that it had acquired the domain name, license rights and the rights to the social accounts @VarskySports on Twitter, Instagram, and Facebook, which have a cumulative global audience of more than two million followers. The purchase price consisted of closing cash payment of $175,000 and the issuance of $25,000 of Playmaker common shares on closing, priced at CAD$0.6819 per share.
On a pro forma basis, Playmaker achieved record engagement metrics in the quarter across the Futbol Sites, Yardbarker and TNN owned and operated properties. Playmaker reaches more than 75 million unique users monthly and in Q3 2021, the user base generated more than 442 million sessions across its properties, representing a 70%+ increase over Q3 2020. Playmaker also reaches more than 365,000 users via the Morning Bark.

CONFERENCE CALL INFORMATION

The Company will host a management conference call to discuss its third quarter 2021 financial results on November 15, 2021, at 8:30 a.m. (Eastern Time). Hosting the call will be Jordan Gnat, Chief Executive Officer; Jake Cassaday, Chief Operating Officer; and Mike Cooke, Chief Financial Officer.

To participate in the Conference Call, please dial the following number(s) approximately five minutes prior to commencement and ask to join the Playmaker call:

Dial-In Number (Toll Free): 1-866-807-9684
Dial-In Number (International): 1-412-317-5415

A replay of the Conference Call will be available between November 15, 2021, and December 31, 2021, and can be accessed at playmaker.fans/investors.

A Q3 2021 Company Overview presentation can also be accessed at playmaker.fans/investors.

To sign up for Playmaker Investor Alerts, follow this link: PMKR Investor Alerts

AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

Published

3 days ago

April 22, 2024

GamingAmericas.com

agco-requires-ontario-gaming-operators-to-stop-offering-wba-bets-due-to-integrity-concerns

The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

Published

7 days ago

April 18, 2024

GamingAmericas.com

gig-increases-ontario-market-presence,-powering-the-launch-of-casino-time

Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

Canada

Glitnor Group expands IBIA’s betting integrity presence in Ontario

Published

2 weeks ago

April 10, 2024

Adrienn Sarkany

glitnor-group-expands-ibia’s-betting-integrity-presence-in-ontario

Reading Time: 2 minutes

Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.

David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”

Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

The post Glitnor Group expands IBIA’s betting integrity presence in Ontario appeared first on European Gaming Industry News.