Latest News
Greece and Cyprus Boost Allwyn’s Q3 Results
Allwyn International has declared that strong performance in Greece and Cyprus was particularly to thank for its strong performance in the quarter ending September 30, 2024, as it shared its unaudited results.
Total revenue reached €2,14bn in Q3 2024, up seven per cent year-on-year, reflecting strong organic growth in Austria and Greece and Cyprus in particular, in addition to continued momentum in digital channel.
Adjusted EBITDA grew 12% year-on-year to €410.8 m.
“I am pleased to report another quarter of good progress and financial performance, in which we delivered strong top line growth – with standout performance in Greece and Cyprus – and once again achieved solid profitability and cash flow generation,” said CEO Robert Chvatal.
“In executing our organic growth strategy, we remain focused on our responsibilities to all our stakeholders, including our resolute focus on safe play. The quarter also benefited from favourable jackpot cycles in lottery. This contrasted with the third quarter last year which, in addition to the impact of unfavourable jackpot cycles, was also impacted by customer-friendly sports results.
“We delivered solid profitability, including excellent growth in Greece and Cyprus, and once more benefited from a strong performance from our equity method investees where, in addition to strong organic growth, profitability benefited from a favourable tax effect in the quarter. Adjusted EBITDA increased 12% year-on-year, and excluding the United Kingdom and Allwyn LS Group and the recent acquisition of Instant Win Gaming increased 21 per cent year-on-year.
“With respect to our inorganic growth strategy, we are very pleased to have completed our planned investment in a 70 per cent interest in Instant Win Gaming in September. The transaction has expanded our footprint and capabilities in content, and further advanced our position in the North America market. During the quarter we also saw a small increase in our interest in OPAP, as a result of OPAP’s share buyback programme.
“Overall, I am pleased with our continued progress and believe we are well-placed for the remainder of 2024 and the next chapters of our growth story.”
The post Greece and Cyprus Boost Allwyn’s Q3 Results appeared first on European Gaming Industry News.
Latest News
BetBlocker select ICE Barcelona for launch of Catalan version of safer gambling tool
BetBlocker the internationally recognised safer gambling organisation has confirmed that it will be using its presence at ICE Barcelona to unveil a Catalan version of the app which provides a free, anonymous, accessible, and robust gambling-blocking tool that helps consumers to control their gambling behaviour.
Providing some background to the launch Pedro Romero Chief of SG Partnerships at BetBlocker explained: “The Catalan version has been designed to be culturally sensitive and is distinct from the Spanish version.
“We were fortunate to work closely with Dr. Laura Maldonado, a Catalan gambling and gaming expert, who helped ensure that the translation and adaptation went beyond language. Her insights were crucial in tailoring the tool to reflect local values, idiomatic expressions, and cultural nuances.
“The Catalan version isn’t just a translation—it’s been created with the specific needs of Catalonia’s population in mind, ensuring it feels intuitive and relatable for users.”
Romero believes that aligning the launch with ICE Barcelona was a natural fit underscoring BetBlocker’s commitment to Catalonia. He stated: “Given that ICE is hosted in Barcelona from this year, we felt it was a meaningful way to acknowledge the cultural richness of Catalonia and support the local community with a fully accessible version of BetBlocker in their native language.
“In 2024 we were fortunate enough to receive funding from the sponsors of the ICE Consumer Protection Zone which has subsequently been rebranded the Sustainable Gambling Zone.
“We utilised that donation to help fund the Catalan version of the app, so there’s a perfect symmetry to the highly positive relationship that we enjoy with the team at Clarion Gaming and specifically with ICE Barcelona.”
Looking ahead to ICE Barcelona BetBlocker is focussed on building strong collaborations with local organisations, including charities, support services, and gambling operators.
Pedro Romero confirmed: “Our aim is to ensure that the tool becomes widely available to anyone in Catalonia who might need it, whether directly or through partner organisations.
“By establishing these partnerships, we hope to create a sustainable impact and demonstrate the value of accessible, localised solutions in promoting safer gambling practices. This launch is just the beginning—we’re eager to see how we can work together to support local communities further.”
The post BetBlocker select ICE Barcelona for launch of Catalan version of safer gambling tool appeared first on European Gaming Industry News.
Latest News
DATA.BET and Turbo Stars Align for Success
DATA.BET, a global esports betting solution provider, announces a new partnership with Turbo Stars, a prominent B2B platform operating across the world.
Known for its comprehensive and adaptable products, DATA.BET will equip Turbo Stars with a complete sportsbook package to help their partners excel in competitive markets. Through this collaboration, Turbo Stars will integrate DATA.BET’s robust betting solution, including:
- Odds Feed, covering 60+ sports disciplines, providing extensive market coverage.
- MTS (Managed Trading Services) to combine AI-powered risk management with expert oversight to maximize profits while minimizing risks.
- Widgets and Esports Bet Builder for dynamic tools designed to increase user engagement and operator revenue.
- Streaming Videos to deliver high-quality live content for an engaging betting experience.
DATA.BET’s accurate and versatile offerings, optimized for seamless integration and growth, will enable Turbo Stars to deliver tailored solutions that meet the needs of diverse audiences.
“Turbo Stars is a platform that values reliability and flexibility, making them an ideal partner,” said Otto Bonning, Head of Sales at DATA.BET. “With our comprehensive sportsbook solution, we are confident this collaboration will help the platform and its partners achieve outstanding results.”
Turbo Stars also expressed enthusiasm for the partnership, emphasizing DATA.BET’s capabilities and support. “With their advanced sportsbook tools and tailored guidance, we’re excited to deliver exceptional experiences to our clients and end users,” said Alex Kozachenko, CPO at Turbo Stars.
The post DATA.BET and Turbo Stars Align for Success appeared first on European Gaming Industry News.
Brownstein Hyatt Farber and Schreck LLP
Caesars Entertainment Closes Sale of the LINQ Promenade
Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
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