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France Galop Optimistic on Racing’s Recovery

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France Galop, the governing body of flat and steeplechase racing in France, has said that while proceeds from betting on racing will be down year-on-year, it has been encouraged by the growth in the sector from June onwards.

It noted that the growth had prompted horse race betting operator Pari-Mutuel Urbain (PMU) to raise its full-year profit forecasts.

France Galop said that as of August 16, stakes were down almost €1bn from 2019, a decline of around 22%, with gross gaming revenue €335m behind the prior year. This was down to the suspension of French racing, which shut down from 17 March and did not resume until 11 May as a result of the novel coronavirus.

However, from June 1, the sector had enjoyed something of a turnaround. For every week since, staking surpassed 2019 levels and beat forecasts set by PMU in April.

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As a result, the operator has raised its projected net profit for 2020 to €640m. While this is €120m behind its pre-pandemic forecasts for the year, it represents an €182m improvement from its updated projections from April.

“Revenue forecasts remain very fragile as long as the virus is actively circulating, which has prompted directors to be cautious. Indeed, the slightest disruption of activity can very quickly result in a loss of several millions,” France Galop said.

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EL Executive Committee Names Mr Ionut-Valeriu Andrei as New Member

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The EL Executive Committee has named Mr. Ionut-Valeriu Andrei as its newest member during its meeting on April 5. Mr. Andrei is the General Manager of Loteria Română since 2022, and succeeds Mr. Olgierd Cieslik, whose term as CEO of Totalisator Sportowy (Poland) has concluded.

”It is with great pleasure to welcome Mr Ionut-Valeriu Andrei as a new Executive Committee member. As an experienced executive, Mr Andrei has already contributed in various ways to our Association and the EL Executive Committee members trust he will continue to do so in the future,” Arjan van ‘t Veer, Secretary General of EL, said.

Mr Andrei will oversee the learning and development activities of EL. His appointment underscores the further commitment of the European Lotteries to inclusivity and collaboration among its members.

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”I am honoured to join the EL Executive Committee and look forward to working closely with my colleagues to advance the mission and values of the Association,” Ionut-Valeriu Andrei said.

Mr Andrei’s co-optation will be formalised during the upcoming EL General Assembly in Salzburg (Austria) on 17 June 2024.

The post EL Executive Committee Names Mr Ionut-Valeriu Andrei as New Member appeared first on European Gaming Industry News.

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Aristocrat Leisure Completes Acquisition of Neo Group Ltd. (f/k/a NeoGames) for $29.50 per Share

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Neo Group Ltd. (formerly known as NeoGames S.A.), announced today that Aristocrat Leisure Limited, an entertainment and content creation company delivering world-leading mobile and casino games, has completed the previously announced acquisition of all of the outstanding ordinary shares of Neo for $29.50 per share in an all-cash transaction, representing an enterprise value of approximately $1.2 billion for Neo.

“We are excited to have successfully closed this transaction and joined forces with the Aristocrat team to further drive our success across iLottery, iGaming, and online sports betting,” said Moti Malul, Chief Executive Officer of Neo. “We firmly believe that this Transaction represents a great outcome for all of Neo’s shareholders, customers and employees. We are very grateful to all our stakeholders who have supported us since our inception. I would also like to thank all our employees for their commitment in making Neo the great company it is today.”

The transaction was announced on May 15, 2023.

The post Aristocrat Leisure Completes Acquisition of Neo Group Ltd. (f/k/a NeoGames) for $29.50 per Share appeared first on European Gaming Industry News.

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PRAGMATIC PLAY DELIVERS BRAND NEW DEDICATED LIVE STUDIO FOR BETSSON

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its partnership with Betsson Group to deliver an exclusive dedicated Live Casino studio featuring a mix of premium Blackjack and Roulette tables.

Incorporating all the fan-favourite features of Pragmatic Play’s Live Casino games, including multiplayer mode, chat functionality, and bet behind, the nine custom-built tables have been uniquely crafted to immerse players in the Betsson Group brands.

In total, eight new dedicated Blackjack tables and one new Roulette table will be broadcast from the custom-built live studio, every detail of which has been designed to Betsson’s precise requirements.

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It is the latest dedicated studio to be delivered by Pragmatic Play, whose operator partners can also use Smart Studio to customise elements of the Live Casino titles to produce bespoke environments that showcase their brands.

Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “Delivering a dedicated studio for Betsson marks another milestone for Pragmatic Play’s award-winning Live Casino offering. Betsson is a much-valued partner, and we are delighted to provide them with an immersive live environment that is fully dedicated to their brand.”

Chellyanne Cassar, Live Casino Manager at Betsson Group, added: “We are delighted to collaborate with Pragmatic Play to ensure delivery of a bespoke dedicated studio, where we can showcase our brand-new Blackjack and Roulette tables.

“The partnership highlights our shared commitment to delivering unparalleled gaming experiences, and we’re thrilled with the final results of the studio.”

The post PRAGMATIC PLAY DELIVERS BRAND NEW DEDICATED LIVE STUDIO FOR BETSSON appeared first on European Gaming Industry News.

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