Press Releases
ClearStake secures seven-figure funding round to drive further growth
ClearStake, a leading solution for smart financial data requests, has completed a seven-figure funding round that will allow the company to scale its business and further its mission to reduce the number of players lost by operators when asked to share financial information, a huge problem for the gambling industry.
The technology solution, built on Open Banking and designed specifically for the gambling sector, helps operators lower the costs of compliance by doing in minutes what can take hours and increases the number of players who opt-in to share their data to become eligible for approval. Early adopters have already reported up to a 6x increase in player retention when data is required.
ClearStake is already backed by industry stalwarts and its latest round has attracted more investors, including former and current senior executives from major brands such as Flutter, Paddy Power, PointsBet, Stats Perform and EML Payments.
Affordability and AML checks are a focus in numerous jurisdictions and the ClearStake platform is a simple, easy-to-implement solution that makes these checks fast and easy for players. Demand for a tool like ClearStake has never been greater, as both mid-sized and larger operators look to make checks as frictionless as possible.
The technology has proven to deliver results and the company is now preparing for a significant period of growth, with further product development in the pipeline. ClearStake also now has its sights on international opportunities, as it continues to establish itself as the go-to provider for financial data requests for the gambling industry.
Martin Burt, CEO at ClearStake, said: “We are delighted to have secured additional funding for our journey, which will enable us to deliver our solution to a greater number of operators.
“We are lucky to have an investor group consisting of prominent industry experts who understand the potential of our technology globally and are on board with our vision of solving the challenge of requesting financial data from players.”
Tundra Esports, The International 11 Champions and a leading competitive esports team playing in Dota 2, proudly announces a game-changing collaboration with Gladiator PC, a pioneer in high-performance gaming technology as their Official Supplier.
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Press Releases
Genius Sports Reports First Quarter Results Above Expectations and Raises 2024 Group Revenue and Adj. EBITDA Guidance
Q1 Earnings 2024 Carousel 8th May
- Group Revenue of $120m, exceeding first quarter guidance of $117m
- Group Net Loss of ($26m) and Group Adj. EBITDA of $7m, exceeding guidance of $6m
- Raised 2024 Group Revenue and Adj. EBITDA guidance to $500m and $82m, respectively, up from prior guidance of $480m and $75m
- Reaffirming expectation to generate positive cash flow in 2024
- Increased financial flexibility by entering into $90 million committed revolving credit facility with Citibank and Deutsche Bank
Genius Sports Limited, the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal first quarter ended March 31, 2024.
“Following a strong year of execution in 2023, we are pleased to continue our momentum to start the new year, with the first quarter of 2024 marking another period of outperformance relative to expectations,” said Mark Locke, Genius Sports Co-Founder and CEO. “As we expand our technology footprint and work to extend one of our most important data partnerships with Football DataCo, we feel an enhanced sense of excitement and confidence in our outlook for 2024 and beyond.”
| $ in thousands | Q124 | Q123 | % |
| Group Revenue | 119,718 | 97,229 | 23.1% |
| Betting Technology, Content & Services | 73,897 | 64,740 | 14.1% |
| Media Technology, Content & Services | 35,475 | 21,764 | 63.0% |
| Sports Technology & Services | 10,346 | 10,725 | (3.5%) |
| Group Net loss | (25,541) | (25,168) | (1.5%) |
| Group Adjusted EBITDA | 6,878 | 8,042 | (14.5%) |
| Group Adjusted EBITDA Margin | 5.7% | 8.3% | (260 bps) |
View the full press release here.
The post Genius Sports Reports First Quarter Results Above Expectations and Raises 2024 Group Revenue and Adj. EBITDA Guidance appeared first on European Gaming Industry News.
DigitalEjis Limited, an innovative research and development company, and Betpoint, a leading Italian regulated gaming operator, have signed a partnership agreement to improve technological safeguards for players and responsible gaming.
DigitalEjis, a pioneer in its field, is the only company that provides an advanced technological solution to assist gaming operators in promoting responsible gaming and ensuring a safer gaming environment for all customers. DigitalEjis has developed the world’s first anti-addiction prediction software, the result of years of scientific research conducted in collaboration with renowned institutions and enhanced by the use of machine learning and artificial intelligence.
This software aims to improve the protection of responsible gaming. Ian McLoughlin, CEO of DigitalEjis, emphasized the ethical imperative behind the development of the innovative software: “Our mission is to create a safe and fun gaming environment for all players. By allowing operators to better understand their players, we aim to implement protection tools for the most vulnerable users without compromising anyone’s fun”.
“It was a pleasure,” adds Ian McLoughlin, “to work closely with Betpoint to enable them to offer a quantum-leap in player protection compared to the competition. Through-out the process, Betpoint has shown a constant commitment to maximizing the safety of its players. What I now hope is that players will turn to gaming operators who offer more protection. Currently in Italy, Betpoint represents the reference point for this”.
Betpoint, a leading gaming operator in Italy, stands out for its leadership in the field of player protection. Long committed to promoting transparency, player trust, and their safety, Betpoint sees the collaboration with DigitalEjis as a further sign of its commitment to responsible gaming.
With the integration of the software designed and produced by DigitalEjis on its gaming platform, Betpoint confirms itself as the most committed operator in Italy on the front of the protection of safe and responsible gaming. Betpoint, a prominent name in the gaming sector in Italy, has consistently prioritized transparency and player trust. In its position as a premium operator, Betpoint has committed to actively promoting responsible gaming as an integral part of its
corporate philosophy.
Giuseppe Simone, CEO of Betpoint, stated: “The collaboration with DigitalEjis reflects our commitment to player safety. We firmly believe that operators should provide a safer gaming experience for their customers, and we are committed to doing exactly that”.
The post DigitalEjis and Betpoint together in safeguarding responsible gaming appeared first on European Gaming Industry News.
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