Industry News
Codere Online Reports Financial Results for Third Quarter of 2021
Codere Online has released its financial results for the quarter ended September 30, 2021.
In June 2021, Codere Online entered into a definitive business combination agreement with DD3 Acquisition Corp. II (DD3), a publicly-traded special purpose acquisition company, that upon consummation will result in Codere Online becoming a public company.
Highlights
- Total net gaming revenue was €20.2m in the quarter and €61.9m in the year to date period.
- Mexico net gaming revenue was €7.1m, an increase of 26% versus €5.6m in Q3 2020.
- Total net gaming revenue outlook for 2021 of between €81m and €86m maintained.
- Spanish gaming regulator has granted the Company’s request for a 10-year extension (through May 31, 2032) of two general online gaming licenses in Spain (sports betting and other games).
- Company expects the business combination will be completed during the week following the special meeting of DD3’s stockholders, which is scheduled to take place on November 18, 2021.
Moshe Edree, Managing Director of Codere Online, said: “Our third quarter results reflect the strong revenue trends in Mexico, with a 26% year-on-year increase in our total net gaming revenue. This performance was partially offset by a decline in net gaming revenue in Spain due to the changes in regulation that came into effect starting in May, with Q3 2021 being the first full quarter of operations in which the ability to offer player bonuses and other marketing activities has been curtailed. However, we are adapting well to these restrictions and believe that there continues to be opportunity to grow our market share in Spain, as we have since the onset of these restrictions, which put operators that can leverage a retail footprint at a competitive advantage.”
Mr. Edree added: “In addition to the Rayados (Mexico) and River Plate (Argentina) sponsorships that we announced in July, we have recently announced a further 5 year extension (through the 2025-26 season) of our agreement with Real Madrid. This agreement will now cover over twenty countries throughout Latin America which we believe will boost our expansion in the region in furtherance of our ambitious growth targets.”
Oscar Iglesias, Chief Financial Officer, said: “Despite the anticipated regulatory headwinds in Spain, we continue to be excited about the market and have recently been granted a 10-year extension (through May 31, 2032) of our two general online gaming licenses (sports betting and other games), which were otherwise schedule to expire on June 1, 2022. More generally, the business continues to perform in line with our expectations and we are on track to meet our net gaming revenue outlook for 2021 of €81 to €86m.”
Mr. Iglesias further added: “We have made significant progress on the business combination with DD3, which we expect will be approved in its upcoming shareholder meeting on November 18, 2021. We are looking forward to closing the transaction and having the funding needed to execute our marketing plan and to delivering what we expect to be significant growth in this business over the coming years.”
The highly anticipated Ortak x B.F.T.H. Arena Awards 3.0 has officially entered the public voting phase as submissions are closed.
More than 70 game providers have turned in over 160 submissions, including Tom Horn Gaming, Pragmatic Play and RubyPlay. Public voting involves enthusiasts casting their votes to pick the winner of the Game of Public Choice category.
The Public voting phase ends on December 1st 23:59 GMT+4.
Concurrent to public voting, the first phase of private voting also starts during which all participants who have submitted entries get the chance to vote for one favourite in each category. An international auditing company oversees this phase to eliminate duplicate votes and self-votes. This phase ends on November 19, 23:59 GMT+4.
The second phase of private voting will also take place with a jury of industry experts making their decisions based on the shortlist picked by participants during the first phase.
The post Public Voting Starts for Ortak x B.F.T.H. Arena Awards 3.0 appeared first on European Gaming Industry News.
Industry News
BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets
Following the frenzy surrounding the 2024 U.S. presidential election, global leading crypto igaming platform BC.GAME has officially announced an exciting airdrop campaign aimed specifically at Polymarket users. This initiative will bring BC.GAME’s gaming entertainment together with the wisdom of Polymarket users, offering a much-needed opportunity for those who actively participated in the election prediction market.
Airdrop Frenzy Amid the Hype: Special Rewards for Polymarket Users
Following the intense activity during the 2024 U.S. presidential election, Polymarket saw an unprecedented surge in user participation. Thousands of individuals placed bets on the election results, turning this prediction market into a major financial event.
To capitalise on this momentum, BC.GAME is launching an exclusive airdrop for Polymarket users. The campaign will reward active participants with exclusive prizes and access to BC.GAME’s expansive gaming ecosystem, creating an exciting opportunity for those who took part in one of the most talked-about prediction markets in history.
Exclusive Airdrop: A Chance to Turn the Tide
The BC.GAME airdrop campaign will offer Polymarket’s active users unique rewards, creating an exciting and unparalleled experience in the crypto gaming space. By leveraging the buzz surrounding Polymarket, BC.GAME aims to bring its innovative gaming ecosystem to more users, giving them the opportunity to earn substantial rewards through this airdrop. Polymarket users will not only enjoy exclusive games on the BC.GAME platform, but also have the chance to claim specially designed rewards. The BC.GAME team guarantees a transparent and fair process throughout the event, ensuring that every participant receives maximum benefits.
BC.GAME: Igniting the Future of Crypto Communities
BC.GAME has always been at the forefront of innovation, providing users with a never-before-seen gaming experience. According to data from 1ml .com, BC.GAME is ranked 14th globally in the crypto gaming space and supports hundreds of cryptocurrencies, including Poly, providing users with diverse payment and gaming options.
In addition, BC.GAME actively participates in the development of the crypto community by investing in NFTs and supporting the growth of the metaverse. For example, BC.GAME has invested 700 ETH into various NFT projects to foster growth in the metaverse and iGaming sectors. By engaging with Polymarket users, BC.GAME is lighting up new possibilities in the crypto world and paving the way for the future of digital entertainment.
The post BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets appeared first on European Gaming Industry News.
Kaizen Gaming, one of the biggest GameTech companies in the world, had an impressive double-win at the SBC Awards Latinoamérica 2024 on the 31st October in Miami, Florida. Awarded ‘Brazilian Market Entrant of the Year’, and ‘Marketing Campaign of the Year’, the two wins follow an impressive year of growth and exposure for Kaizen Gaming, as well as its premium brand Betano, across Latin America and globally.
Betano is rapidly growing its user base and presence in Brazil, serving as the main and title sponsor of Brasileirão Betano and Copa Betano do Brasil. As a founding member of the ANJL and IBJR regulatory bodies, Betano is recognised for its dedication to upholding the highest standards of responsible gaming and integrity. Furthermore, the Betano brand has launched multiple CSR initiatives across the country in partnership with sponsored team, Clube Atlético Mineiro. It also recently launched the “Juntos em Campo” long-term program in cooperation with CBF (Brazilian Football Confederation) to promote initiatives focused on gender equality.
Awarded for the results and creativity of its innovative “Football in America” marketing campaign, Betano successfully introduced Latin America to its “Confia” brand platform by leveraging on its CONMEBOL Copa America
2024 sponsorship. The campaign chimed with the spirit of fans across the continent by celebrating Latin America’s rich football heritage, playfully responding to Kylian Mbappe’s 2022 comments questioning the region’s football quality.
Vangelis Skarkalis, Kaizen Gaming Senior Commercial Director LATAM, said: “Latin America is one of the world’s most dynamic and exciting regions for i-gaming. Being recognised as a leading player in this important market with two wins at the prestigious SBC Awards Latinoamérica is a great honour – especially on the heels of our recent double-win as ‘Operator of the Year’ at both the EGR Operator Awards and SBC Awards. Achieving this success requires an exceptional team of dedicated, ambitious professionals. This award honours everyone’s hard work and commitment to always going above and beyond in delivering the best experiences for our customers not only in Latin America, but worldwide too.”
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