Month: August 2021

Month: August 2021

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Playtech’s share price nosedived this (Monday) morning after the Isle of Man-based company warned that its full-year revenue from Asia is on course to be about €70m (£62m/$82m) lower than expected.Playtech confirmed in a trading update that average daily revenue in Asia continues to be impacted by an “increasingly competitive backdrop” and cited “a particularly aggressive pricing environment from new entrants” towards the end of the first half of the year.However, iGamingBusiness.com understands that the arrival of new local and international market entrants in China, which has led to a bruising price war in the country, is the key factor behind the latest announcement, which comes eight months to the day after the company issued its most recent profit warning.It is understood that the full impact of the price war, which has been unexpectedly sudden, will be felt in the second half of the year, with the outlook in other parts of Asia having remained relatively unchanged for Playtech.The company has also faced challenges in Malaysia, where its licensees have found themselves under greater scrutiny than ever before due to efforts from the country’s authorities to crack down on illegal gambling.Playtech, which will announce its financial results for the six months ended June 30 on August 23, said: “If the current run rate in Asia continues unchanged for the remainder of 2018, including no material improvement in Malaysia, Playtech’s expected revenue from Asia will be circa €70m lower than original expectations.”Owing to the “relatively sudden” downturn in Asia and the company’s centralised cost base, the “vast majority” of the revenue loss would drop through to adjusted earnings before interest, tax, depreciation and amortisation, which is projected to be between €320m and €360m in 2018.By midday on the London Stock Exchange, Playtech’s share price had plummeted by about 28% since the start of the day’s trading.Chief executive Mor Weizer said: “Clearly the recent trading performance in Asia is disappointing. We have taken steps to further support our partners in the region and we will continue to work to preserve our position in the face of an increasingly competitive environment.”Playtech did not disclose the level or nature of “support” for its partners in Asia – a line that was also mentioned in its profit warning issued in November – and did not break down the €70 shortfall in expectations into geographical markets.However, it is understood that the company believes that the latest development – underlining the volatility of operating in unregulated territories – vindicates Playtech’s efforts to increase its focus on regulated markets.In April, the company confirmed a deal to acquire a controlling stake in Italy-based Snaitech and late last month Playtech secured approval from Italy’s financial watchdog for its mandatory offer for the remaining shares.In its trading update, Playtech said that it “believes the increased activity due to the Fifa World Cup and general strength in the Italian gaming market is encouraging for the current period”, even though Snaitech is currently a separately-listed company.Weizer (pictured) added: “In line with our stated strategy, progress in fast-growing, regulated and soon to-be-regulated markets continues apace. Momentum in key regulated markets continued in the first part of 2018 with new agreements with Gala Leisure in the UK, SAS in Portugal and Totalizator, the Polish national lottery.“Additionally, regulatory developments in the US represent a significant opportunity for the group. The organic growth reported in the non-Asian B2B gaming business combined with the recent acquisition of Snaitech in Italy provides management with confidence that this strategy will materially improve the quality and diversification of Playtech’s performance in 2018 and beyond.” 2nd July 2018 | By contenteditor Topics: Finance Finance China price war leads to Playtech profit warning Email Address Tags: Online Gambling Subscribe to the iGaming newsletter Regions: China Playtech sees share price plummet as it is impacted by new rivals in Chinalast_img read more


Month: August 2021

first_imgFinance Catena Media has cited the impact of regulations on its operator partners as the main reason it failed to hit revenue targets for the first quarter of 2019, while rising costs also hit the affiliate giant’s profits for the period.Revenue for the three months through to March 31, 2019, amounted to €26.1m (£22.4m/$29.1m), an increase of 9% on €23.9m last year but below original forecasts.Search revenue was responsible for €21.7m of this total, up from €20.4m in Q1 of 2018, while subscription activity contributed €900,000 to overall revenue, compared to zero last year. This comes despite a decline in new depositing customers – down 7% year-on-year to 124,007.Catena also noted that 78% of total revenue generated during the quarter came from locally regulated or taxed markets.However, this revenue increase was accompanied by a rise in operating costs: up from €15.3m to €18.4m. Personnel costs jumped from €4.1m to €5.6m, while other operating costs were also up from €4.1m to €5.9m.Catena put this increased spending primarily down to sales and marketing, due to ongoing investment in the US market and the financial services segment. The affiliate giant said that these strategic investments will continue to strengthen its margins moving forward.Despite this higher spend, Catena was able to post an operating profit of €7.8m for the quarter, but this was down on €8.6m in the same period last year. Profit before tax also fell from €5.1m to €2.0m, while profit attributable to the equity holders of the parent company fell from €4.7m to €1.9m.However, earnings before interest, tax, depreciation and amortisation increased by 8% year-on-year to €11.2m.Catena CEO Per Hellberg acknowledged that regulations impacted operators negatively during the quarter, which in turn meant the affiliate giant came in below its revenue expectations.  However, he also said Catena is continuing with its long-term strategic plan and foresees this having a positive effect from Q2.“Everything we are doing is now converging in the right direction,” he said. “We are continuing our long-term transformation, based on the strategies of organic growth, fewer but larger brands and increased cost control.“We are agilely adapting to changing conditions and expect to see positive developments from the second quarter onwards.”Hellberg named Sweden as a problematic region in Q1, with revenue from many operators down “dramatically” as a result of the new laws that came into effect earlier this year. However, he also said that this will likely benefit Catena in the long term. “History has taught us that that new regulations tend to initially dampen the markets somewhat before turning upwards again,” he said. “New regulation in Sweden further solidified this theory.“Revenue of many operators dropped dramatically in Sweden. For the long term we expect this will prove beneficial for us. Since operators will need even more players, there should be even higher demand for our services.“Additionally, with Swedish legislators considering restricting marketing channels for online gambling, our offering will grow even stronger.”Hellberg also noted growth prospects in the US and that the talk of new states regulating has now turned to action. Although forecasts for the market are not yet in, he said there is potential to double US revenue in the second half of 2019.“Our state-wide brands, such as playpennysylvania.com, are already top-ranked for what we believe are relevant searches and relevant content for consumers and local operators,” he said.“National brands such as PlayUSA.com, BonusSeeker.com, legalsportsreport.com and thelines.com, all have numerous pages dedicated to Pennsylvania. This is a strategy we are well prepared to replicate.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 3rd May 2019 | By contenteditor Catena Media has cited the impact of regulations on its operator partners as the main reason it failed to hit revenue targets for the first quarter of 2019, while rising costs also hit the affiliate giant’s profits for the period. Subscribe to the iGaming newslettercenter_img Tags: Online Gambling Topics: Finance Marketing & affiliates Catena blames regulatory pressure for missed Q1 targets Email Addresslast_img read more


Month: August 2021

first_img Tags: Mobile Online Gambling 19th July 2019 | By Daniel O’Boyle Subscribe to the iGaming newsletter Email Address Pennsyvania players will be finally able to place online sports bets and play casino games on iOS devices, via Rush Street Interactive’s BetRivers.com and PlaySugarHouse.com sites. Topics: Casino & games Legal & compliance Sports betting Tech & innovation Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Rush Street launches iOS gaming in Pennsylvania Pennsyvania players will be finally able to place online sports bets and play casino games on iOS devices, via Rush Street Interactive’s BetRivers.com and PlaySugarHouse.com sites.The launch has been facilitated by GeoGuard Location Validator, a new app launched through a partnership between geolocation specialist GeoComply. Users are required to download the app from Apple’s App Store, then register for an account.After doing so, they can use it to confirm they are located within Pennsylvania’s borders, and gamble via their mobile web browser.Since the state’s online wagering market launched in May this year, players have only been able to gamble online via desktop and the Android operating system.Read the full story on iGB North America. Regions: US Pennsylvanialast_img read more


Month: August 2021

first_img Subscribe to the iGaming newsletter Topics: Casino & games Slots Casino & games T-Rex II by RTG Slots 24th September 2019 | By Aaron Noy Email Address T-Rex II is a 5×3-reel, 25-variable-payline slot game with very high volatility, free games, multipliers, 2 random progressive jackpots and a highest payout award of 5,000.00 times bet per line. When 3, 4 or 5 scattered Eggs appear anywhere on a normal game, players will receive 10, 20 or 100 free games accordingly. T-Rex II is a 5×3-reel, 25-variable-payline slot game with very high volatility, free games, multipliers, 2 random progressive jackpots and a highest payout award of 5,000.00 times bet per line.When 3, 4 or 5 scattered Eggs appear anywhere on a normal game, players will receive 10, 20 or 100 free games accordingly.Doubling prizes when part of a winning combination, T-Rex will eat all the other dinosaurs on the screen in both main and free games – and all dinosaurs devoured by T-Rex will become T-Rex’s!You can play a demo of this slot here!If you want to write a review of this slot, all the the information and creatives are available on First Look Games here! AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more


Month: August 2021

first_img Google to expand gambling advertising in US and beyond Topics: Marketing & affiliates Sports betting Tags: Online Gambling Subscribe to the iGaming newsletter Marketing & affiliates Google has updated its gambling and games policy to permit operators to run adverts through its platform in Colombia, Kenya and Nigeria, as well expanding the range of US states in which allows betting operators to promote their services. 21st October 2019 | By contenteditor Google has updated its gambling and games policy to permit operators to run adverts through its platform in Colombia, Kenya and Nigeria, as well expanding the range of US states in which allows betting operators to promote their services.From this month, Google will allow adverts from operators licensed by the Kenya Betting Control Board, the Nigerian National Lottery Regulatory Commission and Colombian regulator Coljuegos.The policy changes will also permit sports betting ads, as part of a limited beta test, in Indiana, Iowa, Montana, Pennsylvania and Rhode Island in the US. All of the named states are now running a regulated sports wagering market.Sports betting adverts are already allowed in the regulated states of Nevada, New Jersey and West Virginia.Operators that want to run these adverts are first required to be certified by Google. This will permit them to promote online, real-money gambling such as online casinos or bookmakers, bingo or slots sites or apps, online lottery tickets and online sports betting.Google certification will also enable operators to advertise sites that contain or link to content relating to online gambling. These include promotional products such as bonus codes, as well as educational materials like tutorials or e-books, software including poker odds calculators, other gambling-related information, and aggregator or affiliate sites that promote gambling-related content.In terms of online non-casino games, Google permits the advertising of internet-based game where money or other items of value are paid or bet in exchange for the opportunity to win real money or prizes based on the outcome of the game. Examples of such games include fantasy sports, online chess tournaments and ‘match-three’ video games played for money or prizes. Regions: Africa LATAM US East Africa Western Africa Kenya Nigeria Colombia Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more


Month: August 2021

first_imgCasino & games iGaming software supplier and white label solutions provider EveryMatrix has been granted approval to roll out its CasinoEngine integration and productivity platform in Spain. EveryMatrix secures Spanish approval for CasinoEngine iGaming software supplier and white label solutions provider EveryMatrix has been granted approval to roll out its CasinoEngine integration and productivity platform in Spain.Certified by Spanish gambling regulator the Dirección General de Ordenación del Juego (DGOJ), EveryMatrix will be able to use CasinoEngine to assist operators in entering the country’s online casino market.CasinoEngine focuses on streamlining the processes around content aggregation, and counts the likes of Norsk Tipping, Tipico, Wunderino and mybet as clients.“Helping casino operators to enter new jurisdictions is a key objective of our long-term plans,” EveryMatix group chief commercial officer Stian Hornsletten  said. “We are happy to be setting our footprint into new regulated markets and prove that our technology can be effectively adapted to meet specific regulatory requirements.“Our casino product is ready to be offered to operators in one of the fastest-growing markets in Europe, and this is a fantastic development for CasinoEngine, allowing us to strengthen our presence in Europe and unlock new opportunities for online operators.”EveryMatrix holds licences or certificates to act as a software provider to brands in Malta, the UK, Denmark, Romania and Curacao, while CasinoEngine complies with jurisdictions including Sweden, Norway, Armenia, Georgia, Lithuania and Schleswig-Holstein in Germany.Confirmation of the Spain moves comes after EveryMatrix this week announced that it is to close its four white label websites in Denmark as it focuses fully on offering B2B solutions in the market, just months after making a similar move in the UK.The operator had been running Casinohouse.dk, 777.dk, Cictoriamilan.dk and Jetbull.dk in Denmark, but the sites will now cease customer-facing operations in the market. Topics: Casino & games Legal & compliance Tech & innovation 12th December 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Subscribe to the iGaming newsletter Regions: Europe Southern Europe Spain Email Addresslast_img read more


Month: August 2021

first_img Online sports betting operator 1xBet has set out plans to further enhance its presence in the Latin American market after it secured a full licence from the Dirección General de Juegos y Sorteos (DGJS) of the Mexico’s Ministry of the Interior. Regions: LATAM Mexico Topics: Legal & compliance Sports betting Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Online sports betting operator 1xBet has set out plans to further enhance its presence in the Latin American market after it secured a full licence from the Dirección General de Juegos y Sorteos (DGJS) of the Mexico’s Ministry of the Interior.1xBet said it would focus primarily on esports, online and retail sports betting in Mexico, offering players in the country access to wagering across more than 70 sports.With the licence covering land-based activity, the operator aims to establish a physical presence in the country, with saying its over-arching goal was to become the number one bookmaker for Mexican players.Both its online and land-based activities, 1xBet said, would focus around football and boxing, with its research and development team identifying these as the two main sports in Mexico.In addition, 1xBet said it would look to form new partnerships and sponsorship deals in Mexico to support its expansion strategy in the country.“We have several successful projects implemented in Latin America, but entering the Mexican market opens up even more prospects for us,” a spokesperson for 1xBet said. “This is one of the largest countries in Latin America, which is actively developing in all sectors.“Mexico is one of the centres of the emerging LatAm industry and we are pleased to start work here and support the passion of the Mexican people with our quality product.“We have huge plans which were formulated after conducting a detailed examination before entering the market and we guarantee 1xBet will do everything to raise the status of Mexico in the gaming industry to an even higher level.”It becomes the latest high-profile European operator to be approved to operate in the country after Bet365 and Addison Global, though Addison has since collapsed, as a result of financial difficulties. Legal & compliance Subscribe to the iGaming newsletter 30th March 2020 | By contenteditor 1xBet eyes LatAm growth with new Mexican licence Tags: Online Gambling OTB and Betting Shopslast_img read more


Month: August 2021

first_img Australian digital lottery retailer and supplier Jumbo Interactive has been granted a remote gambling software operating licence by the British Gambling Commission. Email Address Jumbo made its first agreement with a government-owned lottery earlier this month, as it agreed to supply Western Australia’s Lotterywest with its online software platform and related services. Tags: Jumbo Interactive Jumbo Interactive secures British B2B Licence The licence allows Jumbo to make available its dual offering in the UK market, consisting of a pure play SaaS solution, and a managed charities solution, operated by Gatherwell. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 26th November 2020 | By Conor Mulheir “We are delighted to achieve this international expansion milestone which, together with our local subsidiary Gatherwell, will drive our growth strategy in the UK charities market” said Mike Veverka, Jumbo’s CEO and executive director. Results released in October showed that the supplier expected to record a 2% year-on-year decline in revenue for the three months ended 30 September, despite predicting a rise in sales for the period. Jumbo considers its immediate addressable market to be society and local authority lotteries, it said. The software licence is an addition to the external lottery manager operating licences, both remote and non-remote, held by Jumbo’s wholly owned UK subsidiary, Gatherwell. The supplier also extended its long-term reseller agreement with Tabcorp this year, in a deal which saw Jumbo continue to resell lottery products in New South Wales, Victoria, South Australia, Northern Territory, Australian Capital Territory and Tasmania, as well as international jurisdictions, for a further ten years until 2030. Topics: Lottery Licensing Lottery brokerage Online lottery “This is an important step in Jumbo expanding its footprint in the UK following the great work carried out by the Gatherwell team to date”. The licence enables Jumbo to supply its proprietary software-as-a-service (SaaS) online platform to Commission-licensed operators. Regions: Oceania UK & Ireland Australia Subscribe to the iGaming newsletter Licensinglast_img read more


Month: August 2021

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Licensing Subscribe to the iGaming newsletter The Sports Wagering Committee of the Tennessee Education Lottery Corporation’s board of directors approved WynnBet to operate its online sports betting app in the state, pending the fulfilment of statutory and regulatory requirements. Read the full story on iGB North America. Sports betting in Tennessee launched in November last year, and the state became the first to allow mobile and online wagering without a land-based tethering requirement. Topics: Sports betting Licensing Online sports betting Sportsbook The operator has also submitted an application for licensing in Virginia. Wynn Resorts’ online sports betting brand, WynnBet, has been conditionally approved to offer online sports gaming in the state of Tennessee. Tennessee will become the ninth state in which WynnBet has secured market access, in addition to New Jersey, Colorado and Michigan, where the app is already live, and Indiana, Nevada, Massachusetts, Ohio and Iowa, where the operator expects to launch this year. Tags: WynnBET Wynn Resorts Regions: US Tennessee 10th February 2021 | By Conor Mulheir WynnBet conditionally approved for online sports betting in Tennessee Email Addresslast_img read more


Month: August 2021

first_imgIt brings together executives from Monmouth Park in New Jersey; Chicago’s Hawthorne Racecourse and California-based operator WatchandWager to discuss the following points: Topics: Sports betting ICE365 Content Series Horse racing Sportsbook Off to the races: Horse racing’s role in US gaming expansion 17th March 2021 By contenteditor The state of play for racing in the USA The opportunity aheadA harmonious relationship with sports bettingBuilding a product for racing fansThe fixed odds opportunityClosing the generational gap Regions: US 1 minute read Is the US sitting on a goldmine? With a bill to regulate fixed odds betting on horse racing making its way through the New Jersey legislature, could this lead to similar developments in other states? Speakers:center_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter This webinar, sponsored by BetMakers Technology Group, aims to provide the ICE 365 audience with an understanding on the role of horse racing in the US gaming ecosystem. Subscribe to the iGaming newsletter Email Address Tags: BetMakers Technology Group Jake Henson, COO, BetMakers (moderator)Dennis Drazin, Darby DevelopmentEd Comins, WatchandWager John Walsh, Hawthorne Racetracklast_img read more


Recent Comments