Industry News
“Against All Odds” – Will sound be the key to future winnings for betting and gaming brands?
Max De Lucia, Co-Founder and Client Director of specialist sonic branding agency DLMDD.
There are few brands and businesses across the world that haven’t been in some way affected by the current global climate. But as lockdown restrictions are eased and marketplaces begin to return to their “new normal”, betting brands and their marketers now have an even greater issue to navigate.
With momentum gathering in the UK Parliament for a “total ban” on all gambling advertising, brands need to think fast about the role they play in consumers lives and how they can communicate if traditional media channels are further plastered with red tape.
However, as many of you reading this will know, these aren’t new challenges. A ban on gambling advertising during live sport came into effect in the UK from August last year, restricting advertising within a “whistle to whistle” period beginning five minutes before the start of a match and ending five minutes after. These limitations will have already forced marketing departments to think very carefully about how to gain competitive advantage and win attention in these moments. However, and somewhat surprisingly, no brand has dominated when it comes to sound.
Think about it – I can reel off the names of every betting and gaming brand out there in the market, and you’ll instantly be able to tell me what they look like; what colour the logo is, what the slogan says and which celebs they use in their ads. But what do any of them sound like? Well, nothing.
This seems bonkers to me. Earlier this year, Marketing Week highlighted a powerful learning from IPSOS’ marketing study ‘The power of you’. Put simply, the research shows that the use of distinctive sonic cues can have 8.5x the power of visual stimuli. So why is sound so untapped across the sector?
Let’s be frank, underneath the visual brand and the corporate slogans of any betting organisation are odds and chance. You might get slightly better odds and slightly better chances by shopping around but at the end of the day, odds are odds.
As punters, we make our choices on the brands we associate with based upon how we feel about them. And music and sound offer the world’s most powerful shortcuts to human emotion if we know how to handle them right. If expertly managed, they can fulfil every part of our pleasure and reward psychologies garnering effects that can only be rivalled by good food, love and drugs.
What is particularly unique about betting and gaming is that their audiences want and demand to feel something about the brand they’re playing with. This is quite unlike most other sectors and industries. Do I want to feel something about Shell? I’m sure their Brand Director wants me to but no, quite frankly I just want to fill my car up with petrol from the nearest station to me and get the hell out of the forecourt as quickly as possible.
Conversely, emotion is at the forefront of the experience of all bettors and gamers and it’s the responsibility of the brands and their audiences to manage and control how that emotion manifests itself in a safe manner. If all parties get it right, music and sound have the ability to heighten the entire consumer experience at every moment that an audience interacts with their chosen brand.
Historically, the betting and gaming industries have looked at sound through a fairly primitive lens; famous psychological studies have highlighted the use of music and sound in slot machines that reinforce the sensation of ‘winning’ with jubilant sound effects, flashing lights and winning coins dropping down on metal surfaces.
It doesn’t take a genius to work any of that out and along with questionable morality, this doesn’t exemplify the true power of music and sound. When it’s done right, we allow music and sound into our minds. They can stay with us forever and evoke our emotions at the flick of a wrist.
In a world and an industry where the way the consumer feels is the difference between them choosing to play with brand X over brand Y, the first player in the market who can cement their identity in music and sound will have the odds sounding firmly in their favour for many more moons to come.
NuxGame, the experienced betting and casino software provider, has been recognised at this year’s EGR B2B Awards, receiving a nomination for its Aggregation Platform.
The EGR B2B Awards is one of the most esteemed events in the industry and this shortlisting solidifies NuxGame’s status as a leading casino software supplier and a one-stop shop for casino operators.
Winners are to be selected by a panel of industry experts ahead of the ceremony at The Roundhouse in London on 13th June.
NuxGame’s aggregation platform boasts over 13,600 slots titles from 135 leading providers, which has recently been bolstered thanks to partnerships with the likes of 3 Oaks Gaming, Vivo Gaming and Hacksaw Gaming.
The nomination follows a strong year for the provider, which has made strides in player retention and acquisition tools for its aggregation platform customers with features such as free spins, network tournaments, live streamer promotions and custom thumbnails.
This latest development for NuxGame serves as a testament to its philosophy of staying ahead of the tech curve and harnessing the latest technologies to provide a bespoke and customer-centric service.
Denis Kosinsky, Chief Operating Officer at NuxGame, said: “The EGR B2B Awards is one of the most important dates in the iGaming calendar, so we are honoured that our leading casino aggregation platform has been shortlisted.
“It’s fantastic to be recognised in these prestigious awards, as we are dedicated to delivering the most innovative casino game aggregation platform for our customers.”
The post NuxGame’s Aggregation Platform shortlisted in EGR B2B Awards appeared first on European Gaming Industry News.
This month The Navajo Nation Gaming Enterprise (Navajo Gaming) honored 186 of its total 1200 team members for reaching significant employment milestones including 15, 10, and 5 years of service for the enterprise. The event at Twin Arrows Navajo Casino Resort in Flagstaff, Ariz. showcased the impact and journey of each hard-working team member, with a special highlight for 29 employees who have served for 15 years.
Less than 10 years after Navajo Gaming was created by the Navajo Nation and charged with the mission of creating jobs, increasing revenues, and stimulating incremental economic development within the Navajo Nation, the gaming enterprise created over 7425 direct, indirect and induced jobs with an overall economic output of over a billion dollars.
“Navajo Gaming employs 1200 people, 85 percent of whom are Navajo citizens. The award-winning AAA’s coveted Four Diamond Twin Arrows Casino Resort shares Navajo Culture through architectural nuances and local artists. Each of the property dining eateries feature ‘Navajo Beef,’ and traditional cuisine of the Navajo people, and our invitation to stay, play and relax at one of our four properties or Travel Center is an open welcome to the Navajo Nation’s beautiful scenic transformation,” Matthew Shunkamolah, Interim Chief Executive Officer of Navajo Gaming, said.
Team members recognized for 15 years of services have worked their way up to a wide variety of position within the enterprise from General Manager and Executive Director of Slots, to Director of Security, Food and Beverage Supervisor and Executive Director of Government Affairs.
Betsson AB has published its interim report for the first quarter of 2024.
Highlights
- Group revenue was EUR 248.2 (221.9) million, an increase of 12%. Organic increase of 25%.
- Casino revenue increased by 19%. Sportsbook revenue decreased by 3% and the sportsbook margin was 6.6% (8.0%).
- EBITDA was EUR 71.6 (54.3) million, an increase of 32%. The EBITDA margin was 28.8% (24.5%).
- Operating income (EBIT) was EUR 57.9 (43.0) million, an increase of 35%. The EBIT margin was 23.3% (19.4%).
- Net income was EUR 42.8 (36.6) million, corresponding to EUR 0.30 (0.28) per share.
- Operating cash flow was EUR 50.0 (48.8) million.
- Net debt was EUR -68.1 (-104.5) million.
- Active customers increased by 15% to 1,281,267 (1,115,641).
CEO’s Comments
“Positive start to the year for Betsson – continued high customer activity and the highest ever operating income”
For Betsson, the first quarter of 2024 was characterised by a continued positive development with high customer activity, good growth and strengthened profitability, as well as new growth-oriented initiatives. Revenue was up 12 percent year over year, and operating income (EBIT) increased as much as 35 percent to a new record level, while the operating margin strengthened to 23.3 (19.4) percent.
After the new president in Argentina took office, a devaluation of the Argentine peso of more than 50 percent was carried out in December, which had a negative effect on reported revenue for the Group in the first quarter. Organically, revenue increased by 25 percent compared to the corresponding quarter of the previous year.
The high customer activity drove strong growth in gaming turnover for both casino and sports betting, with year-over-year increases of 14 and 25 percent, respectively. Casino revenue increased by 19 percent year over year. The sportsbook margin amounted to 6.6 (8.0) percent, which was lower than the average margin for the past two years and meant that the high activity and increased turnover in sports betting was not fully reflected in revenue for the quarter. The lower sportsbook margin particularly impacted revenue in Latin America.
Betsson’s ambition is to generate stable earnings growth in the long run. The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A. Within existing markets, it can be mentioned that the Betsson brand was introduced on the Italian market in March, at the same time as a collaboration was started with the former superstar of Italian football, Francesco Totti. Italy remains an important market with great potential for Betsson. In addition, Betsson went live in Cordoba, Argentina during the quarter, which means that the Group now offers games under local gaming licenses in three Argentine provinces. In new markets, a new online casino offering was launched in Belgium through the acquired company betFIRST, based on the category A+ license. The license enables a complete online casino offering including slots, table games and live casino. B2B continues to be an important strategic area where previous years’ investments continue to bear fruit and continued to perform strongly during the quarter. In terms of M&A, a gaming operator licensed in the Netherlands that offers casino games via the websites www.goldruncasino.nl and www.goldruncasino.com, and a game studio that develops casino games, were acquired in February. The transaction is subject to an approval from the Dutch gambling authority before the integration work can begin.
Sustainability is an important part of Betsson’s strategy and for the second year in a row Betsson sponsored the Consumer Protection Zone at the ICE gaming fair in London. This part of the fair aims to increase knowledge about responsible gambling and all proceeds from this part go to organisations that work with responsible gambling.
After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July. There is football fever out there and within the entire organisation a number of activities are already underway to ensure that Betsson will be able to deliver a powerful player offering for new and existing customers during these major championships. See you this summer!
The post Betsson Publishes its First Quarter 2024 Interim Report appeared first on European Gaming Industry News.
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