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Betsson Publishes its First Quarter 2024 Interim Report

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Betsson AB has published its interim report for the first quarter of 2024.

Highlights

  • Group revenue was EUR 248.2 (221.9) million, an increase of 12%. Organic increase of 25%.
  • Casino revenue increased by 19%. Sportsbook revenue decreased by 3% and the sportsbook margin was 6.6% (8.0%).
  • EBITDA was EUR 71.6 (54.3) million, an increase of 32%. The EBITDA margin was 28.8% (24.5%).
  • Operating income (EBIT) was EUR 57.9 (43.0) million, an increase of 35%. The EBIT margin was 23.3% (19.4%).
  • Net income was EUR 42.8 (36.6) million, corresponding to EUR 0.30 (0.28) per share.
  • Operating cash flow was EUR 50.0 (48.8) million.
  • Net debt was EUR -68.1 (-104.5) million.
  • Active customers increased by 15% to 1,281,267 (1,115,641).

CEO’s Comments

“Positive start to the year for Betsson – continued high customer activity and the highest ever operating income”

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For Betsson, the first quarter of 2024 was characterised by a continued positive development with high customer activity, good growth and strengthened profitability, as well as new growth-oriented initiatives. Revenue was up 12 percent year over year, and operating income (EBIT) increased as much as 35 percent to a new record level, while the operating margin strengthened to 23.3 (19.4) percent.

After the new president in Argentina took office, a devaluation of the Argentine peso of more than 50 percent was carried out in December, which had a negative effect on reported revenue for the Group in the first quarter. Organically, revenue increased by 25 percent compared to the corresponding quarter of the previous year.

The high customer activity drove strong growth in gaming turnover for both casino and sports betting, with year-over-year increases of 14 and 25 percent, respectively. Casino revenue increased by 19 percent year over year. The sportsbook margin amounted to 6.6 (8.0) percent, which was lower than the average margin for the past two years and meant that the high activity and increased turnover in sports betting was not fully reflected in revenue for the quarter. The lower sportsbook margin particularly impacted revenue in Latin America.

Betsson’s ambition is to generate stable earnings growth in the long run. The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A. Within existing markets, it can be mentioned that the Betsson brand was introduced on the Italian market in March, at the same time as a collaboration was started with the former superstar of Italian football, Francesco Totti. Italy remains an important market with great potential for Betsson. In addition, Betsson went live in Cordoba, Argentina during the quarter, which means that the Group now offers games under local gaming licenses in three Argentine provinces. In new markets, a new online casino offering was launched in Belgium through the acquired company betFIRST, based on the category A+ license. The license enables a complete online casino offering including slots, table games and live casino. B2B continues to be an important strategic area where previous years’ investments continue to bear fruit and continued to perform strongly during the quarter. In terms of M&A, a gaming operator licensed in the Netherlands that offers casino games via the websites www.goldruncasino.nl and www.goldruncasino.com, and a game studio that develops casino games, were acquired in February. The transaction is subject to an approval from the Dutch gambling authority before the integration work can begin.

Sustainability is an important part of Betsson’s strategy and for the second year in a row Betsson sponsored the Consumer Protection Zone at the ICE gaming fair in London. This part of the fair aims to increase knowledge about responsible gambling and all proceeds from this part go to organisations that work with responsible gambling.

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After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July. There is football fever out there and within the entire organisation a number of activities are already underway to ensure that Betsson will be able to deliver a powerful player offering for new and existing customers during these major championships. See you this summer!

The post Betsson Publishes its First Quarter 2024 Interim Report appeared first on European Gaming Industry News.

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Peter-Paul de Goeij Steps Down as Director of NOGA

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After five years as Dutch Online Gambling Association (NOGA) Director, Peter-Paul de Goeij has stepped down from his role.

Eric Konings, involved with NOGA since 2022, will be appointed as interim director. He will now hope to utlise his company knowledge and previous experience to steer the company through this transitional period. Further, Konings will be supported in the process of change by former Staatsloterij (State Lottery) CEO, Frans van Steenis.

“We are very grateful to Peter-Paul for his efforts over the past 5 years, in which he has excellently shaped the transformation from SpeelVerantwoord to NOGA. As a result, NOGA has been able to properly represent the interests of its members in a tumultuous period for the industry. We are confident that this line will be continued under Eric as interim director. However, we do not expect the coming period to be any less turbulent. That is why we as a board have decided to initiate the strategic reorientation,” Remko de Boer, chairman of the board of directors of NOGA, said.

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“The past few years have been hectic, with the opening of the Dutch online gambling market as the absolute highlight. I am now stepping down, but I am convinced that the sector will continue to strive for a safe and responsible gaming offer. That is and remains the best way to achieve optimal consumer protection. I thank the board of NOGA for the trust they have placed in me over the past five years and I hand over the baton to Eric with a clear conscience,” Peter-Paul de Goeij said.

“The industry is facing a number of major challenges in the current political and social climate, and I look forward to helping NOGA members with this. In addition, NOGA is explicitly exploring how the representation of the industry’s interests can be organised in a future-proof manner. I am pleased that Frans van Steenis is fulfilling the role of explorer to shape this process with me,” Eric Konings said.

“A lot is happening in the gambling sector at the moment. Licensed providers, policy makers and society benefit from more clarity and better cooperation. I want to explore how bridges can be built between all parties involved in the gambling dossier,” Van Steenis said.

The post Peter-Paul de Goeij Steps Down as Director of NOGA appeared first on European Gaming Industry News.

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SmartSoft Keeps Crafting Innovations

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SmartSoft, the pioneering the first-ever crash game creator, was founded in Georgia in 2015 by industry enthusiasts. Dedicated to delivering high-quality gaming experiences globally, SmartSoft remains committed to not only creating games but also revolutionizing the industry itself. The hallmark lies in it’s continuous creation of new games, updating of old favorites and coming up with the features that make every gaming experience unforgettable.

What’s more, SmartSoft’s commitment to innovation goes beyond just game mechanics. The company also prioritizes engaging storytelling, stunning visuals, and captivating sounds to create truly memorable gaming experiences. This complex approach not only sets SmartSoft apart from its competitors but also underscores its mission to deliver unparalleled entertainment to gamers worldwide.

Let’s take a look below at Smartsoft’s work, old gems, new features and pushed boundaries:

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The Evolution Continues, expending horizons

As pioneers of non-traditional casino games, flagship game “Jet X”, launched in 2018, marked a breakthrough in the genre and continues to lead the transformation of non-traditional games into mainstream casino offerings. “Jet X” has become the most popular game for SmartSoft, but mission doesn’t end there. Along with “Jet X”, SmartSoft have released numerous innovative games within a year. These games are distinctive in their mechanics and visuals, reflecting company’s commitment to continuous innovation through creativity and passion.

The latest innovation, a visual symphony known as “Helicopter X”, has been captivating users since November 2023. The groundbreaking Crash game designed to revolutionize the online casino landscape. This game combines innovative gameplay mechanics with stunning visual and auditory elements, offering players challenges and multiple strategic options. In “Helicopter X,” players control a helicopter, aiming to cash out before a crash occurs. The game features the Diamond Feature, which randomly boosts multipliers, adding excitement to every round. With it’s fascinating features and results “Helicopter X” offers high stakes and high rewards.

One more gem from SmartSoft – “Mine Island” presents an innovative and exhilarating addition to the online casino world. Since the release in December, this innovative game blends simplicity with excitement, making it accessible to both novice and experienced players. Its 10-stage progression system introduces a unique twist to traditional minefield games, allowing players to strategically decide when to collect winnings or risk progressing for higher multipliers, thus enhancing the gaming experience. The game offers substantial rewards and a compelling risk-reward dynamic. The intuitive gameplay, combined with strategic depth, ensures that “Mine

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Island” stands out in the crowded casino market. Visually stunning design and user-friendly interface reflects a deep understanding of player preferences and behaviors.

Crash Duel X” is an adrenaline-pumping world where strategic betting meets thrilling gameplay, achieving more success daily since launching in December of 2023. SmartSoft Gaming invites you to experience the rush of Crash games with an unparalleled gaming experience, with its diverse betting strategies and exciting features. As the first game on the market to introduce Crash Side Bets, “Crash Duel X” revolutionizes the traditional Crash game mechanics by integrating the best practices from online casino games with side bonus bet features. This innovative approach provides players with multiple strategic options, enhancing the overall gaming experience.

This is just a glimpse into SmartSoft’s ongoing commitment to innovation. Smartsoft, together with its team of professionals, continues to work actively, generating ideas and creating stunning visuals to deliver only the best products to its partners. Stay tuned for more groundbreaking developments and innovative solutions from SmartSoft.

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NIGC Announces Record $41.9 Billion FY 2023 GGR

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The National Indian Gaming Commission (NIGC) released fiscal year 2023 Gross Gaming Revenue numbers totaling $41.9 billion, an increase of $1 billion, or 2.4%, from the historic FY 2022 GGR of $40.9 billion.

Acting Chairwoman Sharon M. Avery and Vice Chair Jeannie Hovland made the announcement at the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wis.

This year’s revenue reflects the viability of tribal gaming operations, as tribal gaming continues to adapt to technological advances and changes in consumer preferences. All eight NIGC regions demonstrated growth in gaming revenue since the last GGR report.

“This year’s GGR results demonstrate how a strong regulatory framework and diversity of tribal gaming enterprises generates growth in the gaming industry. Again, this year, tribal gaming operators and regulators have proven that their ingenuity and tenacity are catalysts for growth, even in the face of an ever-changing gaming landscape. This steadfastness will ensure that tribal gaming remains a valuable resource for continued economic sustainability in tribal communities,” said Avery.

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“I congratulate the industry regulators, operators, and tribal leadership on another successful year. Their hard work in meeting and overcoming the challenges presented by an increasingly competitive market is evidence that tribes are resilient, and their gaming expertise is yielding benefits for their nations as IGRA intended,” said Hovland.

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