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Century Casinos, Inc. Announces Second Quarter 2018 Results

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7 years ago

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COLORADO SPRINGS, Colo., Aug. 8, 2018 – Century Casinos, Inc. (Nasdaq Capital Market®: CNTY) today announced its financial results for the three and six months ended June 30, 2018.

Second Quarter 2018 Highlights*

  • Net operating revenue was $39.6 million, an increase of 6% from the three months ended June 30, 2017.
  • Earnings from operations were $1.0 million, a decrease of 73% from the three months ended June 30, 2017.
  • Net earnings attributable to Century Casinos, Inc. shareholders was $0.3 million, a decrease of 82% from the three months ended June 30, 2017.
  • Adjusted EBITDA** was $4.7 million, a decrease of 27% from the three months ended June 30, 2017.
  • Earnings per share were $0.01.
  • Book value per share*** at June 30, 2018 was $6.02.

The consolidated results for the three and six months ended June 30, 2018 and 2017 are as follows:

For the three months

For the six months

Amounts in thousands, except per share data

ended June 30,

ended June 30,

Consolidated Results:

2018

2017

% Change

2018

2017

% Change

Net Operating Revenue

$

39,648

$

37,330

6%

$

80,270

$

73,729

9%

Earnings from Operations

996

3,641

(73%)

4,249

8,133

(48%)

Net Earnings Attributable to Century Casinos, Inc.
Shareholders

$

317

$

1,802

(82%)

$

1,244

$

3,962

(69%)

Adjusted EBITDA**

$

4,661

$

6,412

(27%)

$

11,226

$

13,131

(15%)

Earnings Per Share:

Basic and Diluted

$

0.01

$

0.07

(86%)

$

0.04

$

0.16

(75%)

“This quarter represented an important period for the long-term success of the Company. We opened our casino in Bath, England in May; we laid the foundation of a land-based presence in Asia with our Vietnam project; and we are finally seeing stability in Poland where we now hold eight casino licenses,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “We are pleased with the growth of net operating revenue driven by strong performances in Canada, which increased 5% in local currency, and Colorado, which increased 7%,” they continued. “Adjusted EBITDA was lower compared to prior year results due to additional non-recurring expenses related to the licensing situation in Poland and the opening of the casino in Bath,” Haitzmann and Hoetzinger concluded.

Reportable Segment Results*
The table below shows the Company’s operating segments that are included in each of the Company’s reportable segments as of June 30, 2018:

Reportable Segment

Operating Segment

Canada

Century Casino & Hotel – Edmonton

Canada

Century Casino St. Albert

Canada

Century Casino Calgary

Canada

Century Downs Racetrack and Casino

Canada

Century Bets!

Canada

Century Mile Racetrack and Casino

United States

Century Casino & Hotel – Central City

United States

Century Casino & Hotel – Cripple Creek

Poland

Casinos Poland

Corporate and Other

Cruise Ships & Other

Corporate and Other

Century Casino Bath

Corporate and Other

Corporate Other

The Company’s net operating revenue increased by $2.3 million, or 6%, and by $6.5 million, or 9%, for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in net operating revenue by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:

Net Operating Revenue

For the three months

For the six months

ended june 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

15,331

$

14,040

$

1,291

9%

$

30,004

$

27,202

$

2,802

10%

United States

8,476

7,943

533

7%

16,183

15,443

740

5%

Poland

14,567

14,287

280

2%

31,949

28,833

3,116

11%

Corporate and
Other

1,274

1,060

214

20%

2,134

2,251

(117)

(5%)

Consolidated

$

39,648

$

37,330

$

2,318

6%

$

80,270

$

73,729

$

6,541

9%

The Company’s earnings from operations decreased by ($2.6) million, or (73%), and by ($3.9) million, or (48%), for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:

Earnings (Loss) from Operations

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

3,785

$

3,647

$

138

4%

$

7,340

$

6,694

$

646

10%

United States

1,548

1,346

202

15%

2,724

2,504

220

9%

Poland

(1,351)

636

(1,987)

(312%)

(329)

2,442

(2,771)

(114%)

Corporate and
Other

(2,986)

(1,988)

(998)

(50%)

(5,486)

(3,507)

(1,979)

(56%)

Consolidated

$

996

$

3,641

$

(2,645)

(73%)

$

4,249

$

8,133

$

(3,884)

(48%)

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($1.5) million, or (82%), and by ($2.7) million, or (69%), for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three and six months ended June 30, 2018, compared to the three and six months ended June 30, 2017:

Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

1,947

$

1,823

$

124

7%

$

3,972

$

3,306

$

666

20%

United States

1,151

836

315

38%

2,025

1,553

472

30%

Poland

(776)

435

(1,211)

(278%)

(246)

1,518

(1,764)

(116%)

Corporate and
Other

(2,005)

(1,292)

(713)

(55%)

(4,507)

(2,415)

(2,092)

(87%)

Consolidated

$

317

$

1,802

$

(1,485)

(82%)

$

1,244

$

3,962

$

(2,718)

(69%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

The Company’s Adjusted EBITDA** decreased by ($1.8) million, or (27%), and by ($1.9) million, or (15%), for the three and six months ended June 30, 2018 compared to the three and six months ended June 30, 2017. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three and six months ended June 30, 2018 compared to the three and six months ended June 30, 2017:

Adjusted EBITDA**

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in
thousands

2018

2017

$ Change

% Change

2018

2017

$ Change

% Change

Canada

$

4,992

$

4,502

$

490

11%

$

9,702

$

8,381

$

1,321

16%

United States

2,091

1,964

127

7%

3,811

3,732

79

2%

Poland

153

1,574

(1,421)

(90%)

2,256

3,952

(1,696)

(43%)

Corporate and
Other

(2,575)

(1,628)

(947)

(58%)

(4,543)

(2,934)

(1,609)

(55%)

Consolidated

$

4,661

$

6,412

$

(1,751)

(27%)

$

11,226

$

13,131

$

(1,905)

(15%)

* Amounts presented are rounded. As such, rounding differences could occur in period over period changes and percentages reported.
** Adjusted EBITDA and Adjusted EBITDA margin are Non-GAAP financial measures. See discussion and reconciliation of Non-GAAP financial measures in Supplemental Information below.
*** The Company defines book value per share as total Century Casinos, Inc. shareholders’ equity divided by outstanding common shares.

Balance Sheet and Liquidity
As of June 30, 2018, the Company had $54.4 million in cash and cash equivalents and $54.3 million in outstanding debt on its balance sheet compared to $74.7 million in cash and cash equivalents and $56.7 million in outstanding debt at December 31, 2017. The outstanding debt as of June 30, 2018included $34.0 million related to the Company’s BMO Credit Agreement, $2.8 million of bank debt related to Casinos Poland, $2.6 million of bank debt related to Century Casino Bath, $0.3 millionrelated to capital leases for Century Resorts Alberta, Century Casino Calgary, Century Casino St. Albert, Century Downs Racetrack and Casino (“CDR”) and Century Mile Racetrack and Casino, and $14.8 million related to a long-term land lease for CDR, net of $0.2 million in deferred financing costs.

Conference Call Information
Today the Company will post a copy of its quarterly report on Form 10-Q filed with the SEC for the quarter ended June 30, 2018 on its website at http://corporate.cnty.com/investor-relations/sec-filings. The Company will also post a presentation on the second quarter results on its website at http://corporate.cnty.com/investor-relations/presentations-and-interviews.

The Company will host its second quarter 2018 earnings conference call tomorrow, Thursday, August 9th, at 8:00 am MDT; 4:00 pm CEST, respectively. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at https://centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until August 31, 2018 at http://corporate.cnty.com/investor-relations/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of Earnings

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in thousands, except for per share information

2018

2017

2018

2017

Operating revenue:

Net operating revenue

$

39,648

$

37,330

$

80,270

$

73,729

Operating costs and expenses:

Total operating costs and expenses

38,651

33,689

76,020

65,596

Loss from equity investment

(1)

—

(1)

—

Earnings from operations

996

3,641

4,249

8,133

Non-operating income (expense), net

(885)

(607)

(1,838)

(1,304)

Earnings before income taxes

111

3,034

2,411

6,829

Income tax provision

(14)

(864)

(993)

(1,859)

Net earnings

97

2,170

1,418

4,970

Net loss (earnings) attributable to non-controlling interests

220

(368)

(174)

(1,008)

Net earnings attributable to Century Casinos, Inc.
shareholders

$

317

$

1,802

$

1,244

$

3,962

Earnings per share attributable to Century Casinos,
Inc.:

  Basic

$

0.01

$

0.07

$

0.04

$

0.16

  Diluted

$

0.01

$

0.07

$

0.04

$

0.16

Weighted average common shares

  Basic

29,376

24,466

29,369

24,460

  Diluted

29,974

24,962

29,984

24,911

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Balance Sheets

(Amounts in thousands)

June 30,

December 31,

2018

2017

Assets

Current assets

$

63,188

$

84,321

Property and equipment, net

169,809

152,778

Other assets

36,410

37,777

Total assets

$

269,407

$

274,876

Liabilities and Equity

Current liabilities

$

37,198

$

34,438

Non-current liabilities

47,960

53,120

Century Casinos, Inc. shareholders’ equity

176,884

179,897

Non-controlling interests

7,365

7,421

Total liabilities and equity

$

269,407

$

274,876

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)

For the three months

For the six months

ended June 30,

ended June 30,

Amounts in thousand

2018

2017

% Change

2018

2017

% Change

Net operating revenue as reported (GAAP)

$

39,648

$

37,330

6%

$

80,270

$

73,729

9%

Foreign currency impact vs. 2017

(1,608)

(5,035)

Net operating revenue constant currency
(non-GAAP)*

$

38,040

$

37,330

2%

$

75,235

$

73,729

2%

Earnings from operations (GAAP)

$

996

$

3,641

(73%)

$

4,249

$

8,133

(48%)

Foreign currency impact vs. 2017

(16)

(230)

Earnings from operations constant currency
(non-GAAP)*

$

980

$

3,641

(73%)

$

4,019

$

8,133

(51%)

Net earnings attributable to Century Casinos,
Inc.shareholders as reported (GAAP)

$

317

$

1,802

(82%)

$

1,244

$

3,962

(69%)

Foreign currency impact vs. 2017

(10)

(61)

Net earnings attributable to Century Casinos,
Inc. shareholders constant currency (non-
GAAP)*

$

307

$

1,802

(83%)

$

1,183

$

3,962

(70%)

Gains and losses on foreign currency transactions are added back to net earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)

For the three months

For the six months

ended June 30,

ended June 30,

2018

2017

2018

2017

Canada

33%

32%

32%

31%

United States

25%

25%

24%

24%

Poland

1%

11%

7%

14%

Corporate and Other

(202%)

(154%)

(213%)

(130%)

Consolidated Adjusted EBITDA Margin

12%

17%

14%

18%

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable
Segment.

For the three months ended June 30, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

1,947

$

1,151

$

(776)

$

(2,005)

$

317

Interest expense (income), net

1,020

—

36

19

1,075

Income taxes (benefit)

684

397

(210)

(857)

14

Depreciation and amortization

798

546

673

153

2,170

Net earnings (loss) attributable to non-
controlling interests

199

—

(389)

(30)

(220)

Non-cash stock-based compensation

—

—

—

232

232

Gain on foreign currency transactions
and cost recovery income

(65)

—

(12)

(113)

(190)

Loss (Gain) on disposition of fixed assets

1

(3)

831

—

829

Pre-opening expenses

408

—

—

26

434

Adjusted EBITDA

$

4,992

$

2,091

$

153

$

(2,575)

$

4,661

For the three months ended June 30, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

1,823

$

836

$

435

$

(1,292)

$

1,802

Interest expense (income), net

867

—

29

(8)

888

Income taxes (benefit)

794

510

198

(638)

864

Depreciation and amortization

845

618

472

83

2,018

Net earnings attributable to non-
controlling interests

150

—

218

—

368

Non-cash stock-based compensation

—

—

—

126

126

Loss (gain) on foreign currency
transactions and cost recovery income

13

—

(244)

(50)

(281)

Loss on disposition of fixed assets

10

—

241

—

251

Acquisition costs

—

—

—

151

151

Pre-opening expenses

—

—

225

—

225

Adjusted EBITDA

$

4,502

$

1,964

$

1,574

$

(1,628)

$

6,412

For the six months ended June 30, 2018

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

3,972

$

2,025

$

(246)

$

(4,507)

$

1,244

Interest expense (income), net

1,959

—

110

18

2,087

Income taxes (benefit)

1,219

699

112

(1,037)

993

Depreciation and amortization

1,670

1,086

1,322

245

4,323

Net earnings (loss) attributable to non-
controlling interests

328

—

(124)

(30)

174

Non-cash stock-based compensation

—

—

—

347

347

(Gain) loss on foreign currency
transactions and cost recovery income

(138)

—

(181)

70

(249)

Loss on disposition of fixed assets

3

1

858

1

863

Pre-opening expenses

689

—

405

350

1,444

Adjusted EBITDA

$

9,702

$

3,811

$

2,256

$

(4,543)

$

11,226

For the six months ended June 30, 2017

Amounts in thousands

Canada

United States

Poland

Corporate and Other

Total

Net earnings (loss)

$

3,306

$

1,553

$

1,518

$

(2,415)

$

3,962

Interest expense (income), net

1,785

—

16

(12)

1,789

Income taxes (benefit)

1,324

951

612

(1,028)

1,859

Depreciation and amortization

1,648

1,228

1,044

183

4,103

Net earnings attributable to non-
controlling interests

248

—

760

—

1,008

Non-cash stock-based compensation

—

—

—

235

235

Loss (gain) on foreign currency
transactions and cost recovery income

31

—

(464)

(52)

(485)

Loss on disposition of fixed assets

11

—

241

3

255

Acquisition costs

28

—

—

152

180

Pre-opening expenses

—

—

225

—

225

Adjusted EBITDA

$

8,381

$

3,732

$

3,952

$

(2,934)

$

13,131

 

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

*  The impact of foreign exchange rates is highly variable and difficult to predict. The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period revenue compared to prior period revenue using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current quarter and the prior year second quarter are reported in Item 1 of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2018. Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, earnings from operations or net earnings attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

**  The Company defines Adjusted EBITDA as net earnings (loss) attributable to Century Casinos, Inc. shareholders before interest expense (income), net, income taxes (benefit), depreciation, amortization, non-controlling interest net earnings (loss) and transactions, pre-opening expenses, acquisition costs, non-cash stock-based compensation charges, asset impairment costs, (gain) loss on disposition of fixed assets, discontinued operations, (gain) loss on foreign currency transactions and other, gain on business combination and certain other one-time items, such as acquisition and disposition costs and gain or loss. Intercompany transactions consisting primarily of management and royalty fees and interest, along with their related tax effects, are excluded from the presentation of net earnings (loss) and Adjusted EBITDA reported for each segment. Not all of the aforementioned items occur in each reporting period, but have been included in the definition based on historical activity. These adjustments have no effect on the consolidated results as reported under GAAP. Adjusted EBITDA is not considered a measure of performance recognized under GAAP. Management believes that Adjusted EBITDA is a valuable measure of the relative performance of the Company and its properties. The gaming industry commonly uses Adjusted EBITDA as a method of arriving at the economic value of a casino operation. Management uses Adjusted EBITDA to compare the relative operating performance of separate operating units by eliminating the above mentioned items associated with the varying levels of capital expenditures for infrastructure required to generate revenue and the often high cost of acquiring existing operations. Adjusted EBITDA is used by the Company’s lending institution to gauge operating performance. The Company’s computation of Adjusted EBITDA may be different from, and therefore may not be comparable to, similar measures used by other companies within the gaming industry. Please see the reconciliation of Adjusted EBITDA to net earnings (loss) attributable to Century Casinos, Inc. shareholders above.

*** The Company defines Adjusted EBITDA margin as Adjusted EBITDA divided by net operating revenue. Adjusted EBITDA margin is a non- GAAP measure. Management uses this margin as one of several measures to evaluate the efficiency of the Company’s casino operations.

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

About Century Casinos, Inc.:

Century Casinos, Inc. is an international casino entertainment company that operates worldwide. The Company owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado, and in Edmonton, Alberta, Canada and the Century Casino in Calgary and St. Albert, Alberta, Canada and in Bath, England. Through its Austrian subsidiary, Century Resorts Management GmbH (“CRM”), formerly Century Casinos Europe GmbH, the Company holds a 66.6% ownership interest in Casinos Poland Ltd., the owner of eight casino licenses throughout Poland. Six of the casinos in Poland are operating as of August 8, 2018. The Company, through CRM, also holds 75% ownership interests in both CDR, which operates in the north metropolitan area of Calgary, Alberta, Canada, and Century Bets! Inc., which operates the pari-mutuel off-track horse betting network in southern Alberta, Canada. The Company holds a 51% ownership interest in Golden Hospitality Ltd., a company that manages a hotel and international entertainment and gaming club in Vietnam. The Company operates 13 ship-based casinos under agreements with four cruise ship owners. The Company, through CRM, also owns a 7.5% interest in, and provides consulting services to, Mendoza Central Entretenimientos S.A., a company that provides gaming-related services to Casino de Mendoza in Mendoza, Argentina. The Company is also developing Century Mile Racetrack and Casino in Edmonton, Alberta, Canada. The Company continues to pursue other international projects in various stages of development.

Century Casinos’ common stock trades on The Nasdaq Capital Market® under the symbol CNTY.

For more information about Century Casinos, visit our website at www.cnty.com.

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of the management of Century Casinos based on information currently available to management. Such forward-looking statements include, but are not limited to, statements regarding future results of operations, operating efficiencies, synergies and operational performance, the prospects for and timing and costs of new projects, projects in development and other opportunities, including the Century Mile, Bermuda and Vietnam projects, debt repayment, investments in joint ventures, outcomes of legal proceedings, changes in our tax provisions or exposure to additional income tax liabilities, and plans for our casinos and our Company. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements include, among others, the risks described in the section entitled “Risk Factors” under Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2017 and in subsequent periodic and current SEC filings we may make. Century Casinos disclaims any obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.

 


Source: Gambling Industry Press Releases

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September 26, 2018

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Everything comes back around in popularity or at least that is what they say. It has happened with vinyl records and now the same is occurring with retro video games. Yes, classic video games have become popular as children of the 1980s and 1990s have grown older and moved into the workforce. But classic games haven’t just become popular to play. People are spending large sums of money on classic games from 20 and 30 years ago and owners who sell the games are making tidy sums. Gamers looking for classic games online can find free casino slot games inspired by retro video games.

Why are classic games popular again?

Classic video games are becoming popular as many older gamers look for a nostalgia factor. Playing games from their childhood brings back memories of yesteryear. Old Nintendo games are a link to the past for many gamers and it is something they don’t want to lose. Nintendo announced in August that it would release a back catalogue of classic games for a new platform. The move will capitalise on the growing number of people looking for older games rather than newer ones. Many older games have inspired online slots which has driven their popularity sky-high.

In addition to personal reasons, today’s mega-blockbuster video games are seen as too violent by many. While video games of the past were an escape from reality, modern games are based – at least loosely – on the problems of the world. From first person shooters to Grand Theft Auto, many older gamers want to play games that don’t reflect reality.

How much are rare video games worth?

A recent study of rare and nostalgic video games from the last 30 years has found a number of old games selling for large sums of money. According to one source, a copy of Nintendo’s Campus Challenge 1991 sells for around $22,000. Amazingly, the now rare game cost just $30 back in 1991. Gamers who had a copy could cash-in on Campus Challenge if they are able to find it. Other rare games selling for big money include the 1988 Sega Megadrive edition of Tetris and Atari’s Air Raid from 1982.

Ultimate 11 is another that is high on the rare games list. According to reports, only 10 copies exist and each goes for $10,000. Kizuna Encounter had only 15 English versions created and is reportedly worth $13,000. One video game collector paid $55,000 for a copy of both games in 2009.

…And then there’s E.T.

In 1982, Atari rushed E.T. the Extra-Terrestrial video game into the marketplace. Atari gave E.T.’s creator just five and a half weeks to develop the game. The company wanted it out in time for Christmas and to reap the rewards of the holiday season. The rushed game was awful and gamers hated it. It barely sold and Atari had warehouses chocked full of E.T. games it couldn’t sell. Unable to move the games and with Atari becoming obsolete by the mid-1980s, the company buried hundreds of thousands of copies of E.T. and other games in the New Mexico desert. Some have been dug up and rare copies of the game have sold for $1,535 at auction. The excavators of the long-lost cartridges found 900 E.T. games in total. After selling them on eBay, the group made $108,000.

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iLUCKI makes debut on SoftSwiss’ platform

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7 years ago

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August 16, 2018

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iLUCKI makes debut on SoftSwiss' platform

Keen to use the technical know-how of SoftSwiss, combined with their profound experience and insightful knowledge of igaming, the team behind the brand is poised to give it their all to entertain players using the best that technology can offer.

A brief glance at the website distinguishes iLUCKI for its breakout layout and game navigation filters with user experience at the very core.

Advanced or simple – the player decides whether they wish to search for their favourite games with simplified filter options to browse through the entire offering or narrow in on that one game they desire most with pinpoint precision.

The smart filter includes search by number of reels and paylines, as well volatility, hit rate and more. It can be easily activated using an elegant switch found on the navigation menu.

Speaking of favourites, players have the freedom to tag their games into a “Favourite” category, so that no time is spent finding their preferred slots. For those wishing to try their luck at something unexplored, iLucki encourages to try its random slot selector.

What is more, the player-oriented brand rolls out a solid library of the top game providers such as NetEnt, Yggdrasil, Microgaming, Play’n GO, NYX and a plethora of other popular game providers. Thanks to the SoftSwiss Game Aggregator, iLucki establishes a vast portfolio of over 40 game brands.

Crypto-lovers will enjoy the ability to play games supporting their coin of choice, whether it is Bitcoin, Bitcoin Cash, Ethereum, Etherium Classic, Litecoin, Dogecoin or Monero.

Support of cryptopayments is brought to iLucki through CoinsPaid, SoftSwiss’ long-term partner in cryptopayments, offering high-end security and speedy transactions.

Anyone looking for the more traditional payment methods, will be satisfied by the abundance of such options for deposits and cashouts as Visa, Mastercard and Maestro, plus Skrill, Neteller, Zimpler, Yandex Money, Qiwi, Sofort, Paysafecard, ecoPayz and more.

The cutting-edge SoftSwiss Bonus Engine allows iLucki to present one of the most diverse and choice-rich promotional systems to date. This comes in the form of several first deposit bonuses, weekend wager free cashback events, high roller bonuses, weekday freespins and a colourful playlist of daily tournaments with local prize pools.

iLUCKI is passionate to become a top rated and player-favourite online casino through quality service, innovative ideas and bespoke promotions.

The complementary affiliates section of the website utilises the in-house affiliate system, developed by SoftSwiss to bring added flexibility to both operators and affiliates alike.

A comprehensive configuration of affiliate commissions, sub-affiliates and billing periods is supplied to the operator, all the while keeping affiliates in the loop on the latest news and exclusive promotional content.

As iLUCKi’s motto goes: “We speak casino. We are casino!” players can have peace of mind and rest assured that their satisfaction is iLucki’s top priority.

SoftSwiss is overwhelmingly happy to introduce iLucki to the growing roster of cutting-edge casino brands utilising its proprietary casino and affiliate platform.


Source: Gambling Industry Press Releases

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New deal agreed between SoftGamings and EGT Interactive

Published

7 years ago

on

August 16, 2018

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New deal agreed between SoftGamings and EGT Interactive

AUGUST 2018, VALETTA/MALTA, RIGA/LATVIA: Today SoftGamings and EGT Interactive announced partnership, which includes providing the EGT Interactive gaming content on the SoftGamings platform.

SoftGamings is a platform developer, gaming aggregator and i-gaming services provider with over 10 years of experience in the industry. The company’s game providers’ suite is regularly enriched with recognised titles, such as EGT this August.

EGT Interactive brings the 15 years of experience of the EGT’s land-based casino slots to the world of online casino games. More than 150 games are known worldwide in more than 85 countries.

EGT Interactive offers several kinds of game types – slots, table games, card games, Keno and jackpot games. They are available in both desktop and mobile.

The most popularity seem to be enjoyed by EGT classic slots, such as 40 Super Hot, Burning Hot and Extra Stars. All titles feature traditional design with fruit symbols, as it was in the beginning of the slot machine era. There is no ‘Spin’ or similar button – instead of it a player has to press the button with an exact amount of bet, which can be chosen each time new.

Apart from slots, EGT Interactive offers 2 kinds of table games – European Roulette and Lucky Circle, Card games – Four of a Kind Bonus Poker, Joker Poker and Jacks and Better Poker, and also Keno Universe.

The EGT Interactive jackpot is a multilevel system, where every level is marked with a different card suit. The jackpot cards bonus is randomly triggered after a single game is finished.

The EGT Interactive gaming content is already available for integration from the SoftGamings feature-rich platform. Casino operators can add this software to their casino environments via single unified API.

Irina Sazonova, Director of Partnerships at SoftGamings says: ‘I am happy about our new cooperation with the EGT Interactive. It is a recognised provider, which produces a really quality content, which perfectly suits our Slots Bundle and Casino Games Integration offerings.’

As an aggregator, SoftGamings offers several ways of acquiring games – Slots Bundle, Live Casino Bundle and Casino Games Integration. EGT Interactive content is available as a part of Slots Bundle – a package of the best slot providers in the i-gaming industry. It can also be integrated separately or pick up several more providers at operator’s wish.

About EGT Interactive:
EGT Interactive is a Bulgaria-based gaming provider that brings the 15 years of experience of the EGT’s land-based casino slots to the world of online casino games. The company is growing rapidly through constant innovation, consumer-centric approach and top-notch support. Every single aspect of the company’s products is designed in line with the customer needs. The EGT games are based on an attractive Return-to-Player (RTP) strategy, which has proven to increase the player lifetime value.

About SoftGamings:

SoftGamings is a B2B casino platforms provider and gaming systems aggregator. With over 10 years of experience in the industry, SoftGamings provides solutions demanded in the market and develops its own creative solutions – White Label, Turnkey, Self-Service, Bitcoin platform solutions, Bonus System Standalone feature, Sportsbook solution, Slots Bundle, Live Bundle and Casino Games Integration. SoftGamings’ strong IT team can also provide gamification possibilities, which is one of the major industry trends. Products portfolio includes 40+ gaming suppliers with 3000+ games. The company offers live dealer solutions from Evolution Gaming, NetEnt, Ezugi, Authentic Gaming, Lucky Streak etc, slots from NetEnt, Microgaming, BetSoft, Endorphina, Habanero, Booming Games, WorldMatch etc, sportsbook, hosting, licensing and banking services. Over 100 clients use SoftGamings products and services since 2007.


Source: Gambling Industry Press Releases

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