Latest News
NeoGames Announces First Quarter 2022 Results
NeoGames S.A., a technology-driven provider of end-to-end iLottery solutions, announced today financial results for the first quarter ended March 31, 2022.
Moti Malul, Chief Executive Officer of NeoGames, said: “Our business continues to trend positively in 2022, as our existing accounts continue to perform well in terms of both sequential, as well as annual growth rates. We are delighted to see particularly strong growth from our Virginia and Alberta accounts, which have become leading contributors to our revenues. During the quarter we announced an offer to acquire Aspire Global in an effort to enhance our offering and expand our geographies. We have been keenly focused on completing this transaction and have recently launched our tender offer. We are confident with the progress and expect to close during the second quarter.”
First Quarter 2022 Financial Highlights
- The total of Revenues and the Company’s share in NPI revenues was $22.4 million during the first quarter of 2022 compared to $21.6 million during the first quarter of 2021, representing an increase of 3.8% year-over-year. Revenues were $13.2 million during the first quarter of 2022, compared to $13.3 million during the first quarter of 2021, representing a decrease of 0.7% year-over-year. In addition, the Company’s share in NPI revenues was $9.2 million during the first quarter of 2022, compared to $8.2 million during the first quarter of 2021, representing an increase of 11.2% year-over-year.
- Comprehensive loss was $(0.9) million, or $(0.03) per share, during the first quarter of 2022, compared to comprehensive income of $4.0 million, or $0.16 per share, during the first quarter of 2021. The change in comprehensive income was impacted by several items, including Aspire transaction-related, stock-based compensation expense (granted in Q4 2021), and additional G&A related to further build out of operations.
- Adjusted EBITDA1 was $8.5 million during the first quarter of 2022, compared to $9.7 million during the first quarter of 2021 representing a decrease of 12.0% year-over-year.
- Network Net Gaming Revenue (“NGR”) was $199.7 million during the first quarter of 2022, compared to $195.8 million during the first quarter of 2021, representing an increase of 2% year-over-year.
Recent Business Highlights
- On April 26, 2022, we published the prospectus, offer document and acceptance form related to the Aspire Global prospective acquisition. The acceptance period runs from April 27 through May 25 with an expected settlement date of June 14, 2022. The acquisition is expected to close during the second quarter of 2022.
- Virginia continued its strong growth with quarter-over-quarter and year-over-year increases in revenue and near market-leading per capita volumes.
- Michigan continued its growth trend, which started in the second half of the fourth quarter 2021.
- Benefiting from the broader product mix rolled out in the region, Alberta expanded to become our second largest turn-key account in terms of revenues, demonstrating the benefits of our collaboration with Aspire Global, as Pariplay has increased its market share during the quarter.
Guidance
The Company is updating its fiscal year 2022 Revenue and Share of NPI Revenues Interest Guidance to between $91 million and $96 million, compared to the prior range of between $90 million and $97 million, representing an approximate 11% increase year-over-year at the midpoint. This range is based on revenues from existing accounts, does not assume revenues from the launch of new turn-key accounts, and reflects the range of possible outcomes of the conflict in Ukraine.
Industry Awards
Soft2Bet’s Betinia shortlisted in five categories of the EGR Marketing and Innovation Awards
Nominations in five categories of the EGR Marketing and Innovation Awards is further recognition of Soft2Bet’s cutting-edge gamification solutions and innovative approach.
Soft2Bet, a leading provider of iGaming turnkey solutions, is delighted to announce that Betinia, its renowned brand in Denmark and Sweden, has been shortlisted in five categories of the EGR Marketing and Innovation Awards 2024.
The nominations are recognition of the incredible work that has been achieved by the Betinia team in two of Europe’s most competitive and regulated markets.
Betinia’s shortlisting in the following categories:
- Best Native App,
- CRM Campaign,
- Innovation in Sports Betting,
- Innovation of The Year,
- Responsible Gambling Marketing Campaign of the Year, demonstrates how it has grown into being one of the most innovative and progressive operators in the industry.
Soft2Bet was recognised in February when its Motivational Engineering Gaming Application (MEGA) gamification solution won the Innovation of the Year at the EGR Nordics Awards and it is delighted to see its achievements gain further recognition with these shortlist nominations.
Oksana Tsyhankova, CMO of Soft2Bet, commented: “Being shortlisted in five categories is a great achievement and huge credit goes to our technical, product and marketing teams. Betinia’s success in two of Europe’s most competitive and regulated markets is also highly satisfying because it showcases our B2C expertise in driving engagement, retention and revenues.”
The post Soft2Bet’s Betinia shortlisted in five categories of the EGR Marketing and Innovation Awards appeared first on European Gaming Industry News.
Betmotion
Betmotion leads campaign to aid victims of the Rio Grande do Sul floods
In response to the recent and devastating floods in Rio Grande do Sul, which have displaced over 100,000 people and severely affected 70% of the state’s municipalities, Betmotion, through its Corporate Social Responsibility project, BetSocial, is mobilising efforts to assist the victims of this catastrophe.
BetSocial has launched an initiative to support the actions of the NGOs Ação da Cidadania and CUFA, which are leading the charge in providing immediate aid to the impacted communities. At this critical moment, BetSocial is reinforcing the call for everyone to unite in solidarity and make donations that will be crucial for reconstructing affected lives.
“The tragedy that has struck Rio Grande do Sul requires a swift and coordinated response. At Betmotion, we believe in the power of solidarity and in our community’s ability to make a difference in times of need,” states Bianca Passos, founding member of BetSocial. “Every contribution, no matter how small, has a significant impact on the lives of those facing such difficult days.”
To facilitate donations, BetSocial has provided information on how to make contributions via PIX to the two partner organisations:
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Ação da Cidadania: [email protected]
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CUFA: [email protected]
Betmotion and BetSocial thank you in advance for your support and solidarity. They reiterate their commitment to work to alleviate the hardships faced by this catastrophe’s victims and continue promoting significant social impact actions.
Latest News
PA Betting Services and Liderform forge strategic partnership to elevate racing content for Turkish audiences
PA Betting Services (PABS) are thrilled to announce a groundbreaking partnership with Liderform, the premier specialist racing form publication in Turkey. This multi-year agreement marks a significant milestone in the evolution of international racing, as Liderform integrates PABS’s pre-race stats and tipping from nine prominent racing regions into their own tipping product. The collaboration aims to enhance the quality of international racing coverage, offering Turkish audiences access to top-tier insights and analysis as they engage with racing through approved Tote partners.
With this alliance, Liderform solidifies its commitment to delivering unparalleled racing content to its customers, leveraging PABS’s expertise in pre-race analysis and tipping to augment their existing offerings. By incorporating PABS’s comprehensive data and insights, Liderform seeks to enrich the experience of Turkish racing enthusiasts and foster a deeper engagement with unparalleled insights and analysis across international racing events.
Richard Duncan, Head of Business Development & Strategic Partnerships at PABS, expressed his enthusiasm for the partnership, stating, “This partnership with Liderform presents an opportunity to promote PABS’s pre-race tipping and statistical content, which has a proven track record of success in domestic markets, to new international audiences. We couldn’t be more excited to work with Liderform to enhance their market-leading form products.”
The collaboration between Liderform and PABS represents a strategic alignment of two industry leaders, each renowned for their commitment to excellence in racing content. Murat Akyer, CEO of Liderform, emphasised the significance of the partnership, stating, “The breadth and quality of pre-race international form, stats, and tipping content made PABS the obvious choice to enhance our leading form solution. This collaboration not only enhances Liderform’s position as the leading Turkish provider of racing form solutions but also underscores our dedication to innovation and delivering value to our audience.”
The post PA Betting Services and Liderform forge strategic partnership to elevate racing content for Turkish audiences appeared first on European Gaming Industry News.
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