Connect with us

Industry News

NetEnt Releases Interim Report for January–March 2020

Published

on

Reading Time: 3 minutes

 

Casino content developer NetEnt has released its interim report for January–March 2020.

NetEnt reported a 23.9% year-on-year increase in revenue during the first quarter. Revenue for the three months through to 31 March 2020 totalled SEK518.0m, up from SEK418m in the corresponding period last year.

NetEnt slot games were responsible for 90% of all gaming revenue during Q1, compared to 10% from table games. Meanwhile, the UK was its single biggest market, contributing 19% to total revenue, ahead of the Nordic region on 18%.

Comments by Therese Hillman, Group CEO:

“The pandemic outbreak of covid-19 has put the world in an exceptional situation, leaving nobody unaffected. The health and safety of our employees has the highest priority in the NetEnt Group, while we continue to work hard to secure a good development for the Company both in the shorter and longer term. It is difficult to predict the effects of the covid 19-situation on the economy in general and our sector in particular, but we believe that the underlying trend of digitalization in gaming will continue and offer growth opportunities for NetEnt in the future. So far, the financial performance of our business has not been negatively affected by the outbreak of covid-19.

Revenues for the first quarter of the year amounted to SEK 518 (418) million, supported by a strong finish in March and a weaker Swedish krona. On a proforma basis (including Red Tiger in the previous year’s figures), the Group’s total gaming revenues increased by 12 percent in euro compared to the same period in 2019. Most of the growth came from the US and the UK, while developments in Sweden and Norway continued to be negative. Locally regulated markets accounted for 50 percent of Group gaming revenus in the quarter. The largest locally regulated markets for the Group were UK (19 percent of gaming revenues), Italy (8 percent) and USA (7 percent). Sweden accounted for only 6 percent of gaming revenues, which is significantly lower than before the re-regulation of the Swedish market.

To further strengthen competitiveness and increase efficiency, we implemented organizational changes and initiated a full integration with Red Tiger during the quarter. The changes lead to a reduction in the workforce by approximately 120 employees, mainly in Stockholm, and are expected to result in cost savings of SEK 150 million starting in the second half of 2020. This means that we are increasing our estimate of potential synergies from the acquisition to around SEK 250 million annually, including revenue synergies.

Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to SEK 229 (196) million in the quarter, corresponding to a margin of 44.2 (47.0) procent. Earnings were negatively affected by SEK 26 million of restructuring costs related to the integration with Red Tiger.

Red Tiger keeps performing above our expectations with its award-winning games and the expansion to new markets continues. During the quarter, Red Tiger games were launched with customers on the regulated markets in Italy and Slovakia, and with large operators like Svenska Spel in Sweden and Sky in the UK.

Within Live Casino we continue our efforts to strengthen the product. For instance, we increased the number of tables in our studio on Malta and upgraded the user interface for mobile gaming in the quarter. We have had new record levels in the number of players every month since December and we see increasing interest for the product by operators and players.

A strong product pipeline, new regulated market entries and the Live Casino opportunity for NetEnt – combined with Red Tiger’s expansion – puts us in a good position to continue delivering profitable growth in 2020.”

Continue Reading
Advertisement

Industry News

FDJ UNITED Confirms Strong Half-Year Progress and Maintains 2025 Guidance

Published

on

fdj-united-confirms-strong-half-year-progress-and-maintains-2025-guidance
Reading Time: 2 minutes

 

FDJ UNITED, a leader in lottery, betting and gaming in Europe, announced its results for the first half of 2025.

• First-half revenue of €1867m: up +31% compared with H1 2024 reported and down -2% on a restated basis

• Buoyant performance by the French lottery and retail sports betting BU with revenue of €1290m, up +4% on a restated basis

• Lottery revenue rose by +6% to €1065m. This performance can be attributed to the whole range of games and all distribution channels, particularly digital, which rose by +16% to €160m

• Point-of-sale sports betting revenue fell by -6% to €225m. This change reflects unfavourable sports results for the operator, despite stakes boosted by an attractive football offering (+4%)

• Online betting and gaming BU2 revenue of €466m, down -12% on a restated basis

• This change reflects a very unfavourable 2024 comparison base, due in particular to the Euro football tournament, as well as tax and regulatory impacts in 2025, particularly in the Netherlands and the UK. Excluding these two markets, revenue would be up 5% thanks to the performance of other countries, including France

• Second-quarter revenue came to €235m, up +2% compared with the first quarter of 2025

• Recurring EBITDA of €441m, representing a margin of 23.6%, or 24.4% excluding the cost of the employee share ownership plan (€14m)

• Adjusted net income of €222m

• This reflects the impact of the financing of the Kindred acquisition on the financial result and the one-off tax contribution on the profits of large French companies

• 2025 objectives reiterated: stable revenue versus 2024 pro forma, with a recurring EBITDA margin of over 24%

• Successful employee share ownership plan bringing the share of capital held by employees to 4.6%

• Taken up by more than half of employees and largely oversubscribed

“2025 stands as a transition year for FDJ UNITED, with the integration of Kindred well on track. In this context, our first-half performance is in line with the expected full-year trajectory. Besides, we are pleased by the success of the employee share ownership plan launched by the Group, reflecting our long tradition of sharing FDJ UNITED’s value creation with all stakeholders,” Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ UNITED.

The post FDJ UNITED Confirms Strong Half-Year Progress and Maintains 2025 Guidance appeared first on European Gaming Industry News.

Continue Reading

Industry News

EGT Launches Linked United Platform

Published

on

egt-launches-linked-united-platform
Reading Time: 2 minutes

EGT has launched Linked United, an innovative platform aiming to redefine profitability and immersion in gaming establishments in Spain. This product marks a significant milestone in the company’s strategy to enhance the performance of bingo and gambling halls across one of the most important European markets.

Linked United enables the seamless interconnection of numerous products at a single station, thus creating a more dynamic and engaging entertainment network. The platform enables operators to integrate popular titles from EGT’s portfolio, such as Bell Link Plus, Gods & Kings Link and Sands Princess, along with exciting new offerings. The company plans to include all releases launched on the local market from now on in Linked United.

A key differentiator of the platform is its innovative shared Grand Jackpot system: a single, progressive level, involving all interconnected games within a group. This way, players’ chances of hitting enormous winnings increase manifold, which generates unparalleled vibrancy in the gaming hall.

Along with enriching the gaming journey, the product also contributes to increasing operational efficiency through space optimization, allowing a greater variety of games to be offered in a smaller area. Linked United also stands out with its impressive flexibility in terms of installation, as it enables venues to adjust the game mix based on performance and tailor it to the specific preferences of their customers.

Linked United brings a number of advantages for operators. First, it increases perceived value for players thanks to the wider diversity of game offerings and the irresistible appeal of the unified GRAND Jackpot, which results in enhancing the overall experience and building loyalty. Second, this leads to extended playing sessions, as more dynamic and connected entertainment encourages players to prolong their visits. Third, it allows for maximum leveraging of existing hardware investment, as Linked United integrates with current infrastructure, which optimizes costs while extending equipment lifespan. Finally, operators benefit from significant cost savings by proposing more games per station and utilizing space efficiently.

Diego Scotti, Sales Director of EGT Spain, said: “We are at a turning point in our market strategy. With Linked United, we are not just connecting games; we are opening the doors to an ecosystem of unlimited possibilities. It’s a strategic response to our operators’ demand for solutions that not only captivate their clients but also maximize their return on investment in a tangible way.”

The post EGT Launches Linked United Platform appeared first on European Gaming Industry News.

Continue Reading

FanDuel Sports Network

Main Street Sports Group Appoints Jim Keller as EVP of Advertising and Sponsorship Sales

Published

on

main-street-sports-group-appoints-jim-keller-as-evp-of-advertising-and-sponsorship-sales

 

Main Street Sports Group, owner of FanDuel Sports Network, announced the appointment of Jim Keller as Executive Vice President of Advertising and Sponsorship Sales. In this new role, Keller will lead the entire ad sales portfolio for FanDuel Sports Network, overseeing linear, digital, and programmatic efforts. He will report directly to Eric Ratchman, Chief Revenue Officer of Main Street Sports Group.

Keller brings more than two decades of experience driving innovation, operational excellence, and revenue growth across every layer of the media ecosystem, from national networks to digital-first platforms. Most recently serving as Chief Revenue Officer at Fuse Media, Keller previously held executive roles at Warner Bros. Discovery, Hulu, and NBC Universal, leading cross-platform sales teams through industry-shifting transformations and high-growth phases. His background includes oversight of digital, streaming, mobile, addressable, and data-driven advertising, as well as advanced monetization strategies across premium content portfolios spanning sports, entertainment, and news.

“Jim is a proven leader with an exceptional track record across linear, streaming, and digital platforms. As FanDuel Sports Network redefines what local sports media can be – more dynamic, more engaging, and more impactful – Jim’s leadership will be key in creating smarter advertising experiences that deliver real value to our brand partners and local fans alike,” said Eric Ratchman, Chief Revenue Officer of Main Street Sports Group.

“There’s nothing more powerful than the connection a fan has with their local team, and FanDuel Sports Network is building a platform that truly honors that connection. From my earliest days as a sports seller at NBC Sports, to leading some of the industry’s most innovative ad strategies, I’ve always believed that the strongest media experiences are rooted in content and community. FanDuel Sports Network’s focus on building relevant, local, multiplatform fan experiences is exactly what the industry and advertisers need right now, and I couldn’t be more excited to help drive the next phase of growth,” said Keller.

Keller’s deep expertise in building modern ad operations, forging high-impact partnerships, and unlocking value across multiplatform products will be instrumental as FanDuel Sports Network continues to evolve into the future of local sports media. Main Street Sports Group’s continued transformation is rooted in reimagining local sports coverage, not just distributing games, but uniting the brands, features, and experiences fans want, tailored to each market.

The post Main Street Sports Group Appoints Jim Keller as EVP of Advertising and Sponsorship Sales appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending