Canada
Playmaker Reports Second Quarter 2021 Results
Playmaker Capital Inc., the Toronto-based digital sports media company, reports its financial results for the second quarter ended June 30, 2021.
“We are very excited to share our second quarter results. Our teams are hitting on all cylinders. The organic growth of our Futbol Sites business has been exceptional and in July we added Yardbarker, a company that has experienced very strong year-over-year growth to date. Our pipeline remains robust and we have a strong balance sheet with currently over $13.0 million of cash and zero debt. We remain focused on profitable growth, both organic and through acquisition” said Jordan Gnat, Founder and CEO of Playmaker.
FINANCIAL HIGHLIGHTS (Figures in USD)
- Revenue – Revenue was $3.0 million in Q2 2021, compared to $nil in Q2 2020.
- Operating Income – Operating income was $0.4 million in Q2 2021, compared to operating loss of $0.1 million in Q2 2020.
- Pro Forma Revenue – Pro forma revenue was $4.2 million in Q2 2021, an increase of 244% from $1.2 million in Q2 2020. For the six months ended June 30, 2021, pro forma revenue increased by 152% to $7.6 million from $3.0 million in the same period of 2020.
- Pro Forma Adjusted EBITDA – Pro forma adjusted EBITDA was $1.6 million in Q2 2021, an increase from $8,410 in Q2 2020. For the six months ended June 30, 2021, pro forma adjusted EBITDA increased to $2.8 million from $0.3 million in the same period of 2020.
- Trailing 12-Month Metrics – For the 12 months ended June 30, 2021, pro forma revenue was $14.4 million and pro forma adjusted EBITDA was $6.0 million.
- Cash and Cash Equivalents – Cash and cash equivalents of $23.5 million at June 30, 2021 compared to $6.6 million at December 31, 2020.
OPERATIONAL HIGHLIGHTS
- On April 1, 2021, the Company acquired Futbol Sites, a top digital sports media group in the U.S. and Latin America with a portfolio of more than 10 premium sites.
- On July 26, 2021, the Company acquired Yardbarker, a premier U.S. sports and entertainment media company, and the Morning Bark, Yardbarker’s daily email newsletter. As partial consideration in connection with this transaction, the sellers are eligible to receive an aggregate total of $4.0 million, based on Yardbarker’s performance toward an EBITDA target of $2.5 million in each of the two years following closing, as announced in a news release dated July 27, 2021.
- On a pro forma basis, Playmaker achieved record engagement metrics in the quarter across the Futbol Sites and Yardbarker owned and operated properties. Playmaker reaches more than 70 million unique users and in Q2 2021, the user base generated more than 454 million sessions, representing a 65% increase over Q2 2020. Playmaker also reaches more than 360,000 users daily via the Morning Bark.
- During Q2 2021, the Company completed an equity raise for gross proceeds of CAD $24.0 million and completed a reverse takeover of a capital pool company on the TSX Venture Exchange. The Company’s shares began trading on the TSX Venture Exchange on June 3, 2021.
- On June 11, 2021, Playmaker acquired Fanáticos Por Futebol, one of Brazil’s leading and most engaging soccer news communities.
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
BCLC
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Relax Gaming, the iGaming aggregator and supplier of unique content, has significantly enhanced its presence in the Ontario market through an agreement with leading Canadian operator, PointsBet.
This partnership reinforces Relax Gaming’s aim to become a standout provider across North America, having already gained early success in Ontario. Relax became one of the first suppliers to deliver content to the region’s players in March 2022, debuting with over 120 games across multiple operators.
PointsBet pride themselves as one of Canada’s leading operators offering unmatched speed, ease of use, and a comprehensive array of pre-game and in-play sports betting options. This is complemented by a top-tier online casino which will now be boosted with the integration of Relax’s portfolio of slots and live dealer options.
With its authentic Canadian approach, PointsBet prioritises technology that minimises external dependencies to maintain control over its platform and has a commitment to responsible gambling best practices, ensuring a safe and secure environment for all players.
Martin Stålros, CEO at Relax Gaming, said: “Since we launched in Ontario we have enjoyed tremendous success, with our content hitting the sweet spot for the broad range of players in the Canadian province. This partnership with PointsBet will strengthen our presence in the market as the region’s leading operator integrates our rich content portfolio which will engage its player base.”
Scott Vanderwel, Chief Executive Officer at PointsBet, added: “Relax Gaming has established a strong reputation across North America and in Ontario in particular. The impressive range of content that will be integrated into our platform will increase engagement within our online platform and we are delighted to be able to provide more immersive experiences to our audiences.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
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