Connect with us
European Gaming Congress 2024

Central Europe

SAZKA Group Q3 and 9M Results and Update on Current Trading

Published

on

Reading Time: 2 minutes

 

SAZKA Group a.s.  announces its financial results for the three months to 30 September 2020 and provides an update on recent developments and current trading.

Q3 2020 Financial highlights

  • Consolidated gross gaming revenue increased by 66% year-on-year to €769 million. Excluding CASAG1, GGR increased by 1% year-on-year.
  • Consolidated Operating EBITDA2 increased by 37% year-on-year to €197 million. Excluding CASAG, Operating EBITDA increased by 6%.
  • Consolidated Adjusted EBITDA, which excludes certain one-off items, increased by 32% year-on-year to €207 million.
  • Consolidated profit after tax decreased by 33% year-on-year to €48 million, impacted by a €54 million restructuring provision at CASAG. Excluding CASAG, profit after tax increased by 3% year-on-year.

9M 2020 Financial highlights

  • Consolidated gross gaming revenue increased by 4% year-on-year to €1,421 million. Excluding CASAG, GGR decreased by 18% year-on-year due to the impact of COVID in the second quarter.
  • Consolidated Operating EBITDA decreased by 15% year-on-year to €364 million. Excluding CASAG, Operating EBITDA decreased by 26% year-on-year.
  • Consolidated Adjusted EBITDA, which excludes certain one-off items, also decreased by 15% year-on-year to €375 million.
  • Consolidated profit after tax from continuing operations decreased by 58% year-on-year to €90 million. Excluding CASAG, profit after tax decreased by 50%.

Pro-rata LTM Q3 2020 highlights3

  • Pro-rata LTM Adjusted EBITDA was €379 million.
  • Pro-rata net debt / Adjusted EBITDA was 3.2x and Pro-rata priority net debt / Adjusted EBITDA was 0.5x at 30 September 2020.

Key strategic initiatives

  • In July, the Supervisory Board of CASAG approved a plan to optimise the cost structure of the casino business in Austria.  This plan is underway and expected to achieve c.€45 million of annual cost savings by FY22.
  • In July and November, OPAP acquired additional interests in Stoiximan Group’s Greek and Cypriot business (“SMGC”), the leading online gaming business in Greece. OPAP now holds an 84.5% interest in SMGC.
  • In November, KKCG and SAZKA Group announced that funds managed by affiliates of Apollo Global Management, one of the world’s leading investors in gaming, will invest €500 million in a newly formed holding company which will become the owner of SAZKA Group at a valuation of €4.2 billion.

Trading update

  • Restrictions which had impacted some of our land-based businesses (in particular, in Greece, Italy and our casinos in Austria and internationally) in H1 were lifted at the end of Q2, and sales of these businesses recovered well in Q3.
  • Our land-based businesses in the Czech Republic and Austria, which were not materially impacted by restrictions in H1, have continued to perform well.
  • Online sales, which increased significantly during the period most impacted by COVID, have generally remained at these higher levels.
  • Since late October/early November, there has been a second wave of COVID restrictions, having some impact on our businesses.
  • The vast majority of the land-based POS of our businesses in the Czech Republic, Austria and Italy remain open and continue to sell our products.
  • The majority of the POS in these locations are located in shops and other outlets which provide essential products and services which therefore remain open. These include tobacconists, supermarkets and petrol stations.
  • Our land-based business in Greece and Cyprus as well as our casinos have been more affected by the current lockdown and are currently closed.
Continue Reading
Advertisement

Central Europe

SOFTSWISS Steps In to Assist Southern Poland After Severe Flooding

Published

on

softswiss-steps-in-to-assist-southern-poland-after-severe-flooding
Reading Time: 2 minutes

 

SOFTSWISS, a global tech supplier of software for the iGaming industry, along with its employees, has actively aided communities affected by the recent flooding in Southern Poland.

In September, Storm Boris brought devastating floods to Central and Eastern Europe, causing widespread damage. Torrential rains left thousands of homes submerged, severely impacting numerous cities in Poland, the Czech Republic, and Romania. In Poland, the southern regions were hit the hardest, with dozens of towns requiring urgent evacuations and support for affected communities.

To provide immediate relief, SOFTSWISS made a financial donation to the Wielka Orkiestra Świątecznej Pomocy, a well-known Polish charity organisation. SOFTSWISS has two development offices in Poland, allowing employees to quickly join the relief efforts and offer their assistance during the flood.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Under the company’s coordination, Polish employees packed boxes of over 100 kilograms of essential items, including food, hygiene products, and necessities such as matches, candles, and batteries. SOFTSWISS handed these supplies to Caritas Polska, a charitable organisation spearheading relief efforts for the affected areas.

Earlier this year, SOFTSWISS also organised a large-scale charity and awareness campaign to support flood-hit regions in Brazil. 

“Unfortunately, natural disasters happen, and we don’t want to stand idly by. We strive to help in any way we can. This aligns with one of our core values, We See People, which applies not only to our employees. We always see the people beyond the business, and I believe our ESG initiatives reflect this,” said Natalia Perkowska, Deputy Chief HR Officer at SOFTSWISS.

The aid campaigns in Poland and Brazil are part of SOFTSWISS’ broader global strategy focused on social responsibility and sustainable development (ESG). The company also dedicates to long-term social and environmental projects, with notable initiatives such as participation in World Environment Day, Pink October, Movember, and various environmental protection efforts.

Recently, SOFTSWISS was recognised as The Best Employer of 2024 at the SBC Awards.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Steps In to Assist Southern Poland After Severe Flooding appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Central Europe

Relax Gaming partners with Grand Casino Luzern to launch in Switzerland

Published

on

relax-gaming-partners-with-grand-casino-luzern-to-launch-in-switzerland
Reading Time: 2 minutes

 

Relax Gaming, the iGaming aggregator and supplier of unique content, has enhanced its European presence by making its debut in Switzerland with leading operator Grand Casino Luzern and its online platform, mycasino.

This partnership with Relax will see the supplier’s award-winning portfolio of games including Banana Town, Money Train and Wild Chapo now available to Swiss players with more titles to follow.

Founded in 2019, mycasino is operated by Grand Casino Luzern, a renowned casino operator in the heart of Switzerland.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The country’s leading online casino boasts a cutting-edge offering with exclusive titles regularly being added, as well as seamless deposit and withdrawal functionality. With its commitment to safety, innovation, and superior customer experience, mycasino offers a secure and enjoyable online gaming experiences for Swiss players.

The Swiss market marks the twenty-third global jurisdiction that Relax Gaming now operates in after passing the stringent regulatory processes and obtaining approval from Federal Gaming Board (FGB).

This is Relax’s latest step in extending its reach across Europe with further plans to increase its footprint with additional partnerships planned over the continent in the near future.

Martin Stålros, CEO of Relax Gaming, said: “Our continued growth across the globe is something we are all incredibly proud of. The Swiss market presents many interesting opportunities and I believe we have the right content to appeal to the passionate audience.”

Alexia Smilovic Rønde, Chief Regulatory Officer at Relax Gaming, said: “Entering the Swiss market through our prime partnership with Grand Casino Luzern marks another significant step in expanding our presence in high-profile regulated markets.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Switzerland is truly a staple of European jurisdictions and is known for its high regulatory standards, which we are pleased to have successfully met. We will be looking forward expanding our presence in the coming months.”

Wolfgang Bliem, CEO at Grand Casino Luzern, said: “The partnership with Relax Gaming marks an important step for mycasino.

“Their innovative approach and diverse game portfolio perfectly align with our commitment to maintaining our leadership in the market. We’re thrilled to be the first online casino in the Swiss market to partner with Relax Gaming and continue providing top-tier entertainment to our players.”

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Relax Gaming partners with Grand Casino Luzern to launch in Switzerland appeared first on European Gaming Industry News.

Continue Reading

Central Europe

Thunderkick enters Hungary with LVC Diamond brand Vegas.hu

Published

on

thunderkick-enters-hungary-with-lvc-diamond-brand-vegas.hu
Reading Time: < 1 minute

 

Partnership marks studio’s first foray into Hungarian market

Independent slots studio Thunderkick has launched its games with Vegas.hu, an online casino operated by Las Vegas Casino (LVC) Diamond, marking its debut in the Hungarian iGaming market.

Hungary is the third new market entered by Thunderkick in 2024 – following the announcement that its games would go live in Canada and Colombia – highlighting the provider’s commitment to targeted global expansion.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Vegas.hu is a pioneering platform having become the first legal online casino established in the country in 2017 and has since established itself as one of the most successful and highest-grossing brands in Hungary.

The partnership, which commenced in early August, saw a collection of Thunderkick’s games integrated onto Vegas.hu, including fan-favourites Midas Golden Touch 2, Beat the Beast: Dragon’s Wrath, and Gods of Rock! Reborn.

The game developer has already reported early success among its titles, with this strong performance emphasising the quality of Thunderkick’s product portfolio, which continues to resonate with players across the globe.

Fredrik Ekholm, Head of Sales at Thunderkick, said: “We are dedicated to enhancing Thunderkick’s presence on our home continent, and the debut of our slots in Hungary reaffirms this.

“Since becoming the nation’s first regulated online casino, Vegas.hu has built a reputation as an industry leader, and we are excited to partner with the prestigious brand as we look to expand our European player base.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Brigitta Szenczy, Head of Gaming and Studio at Vegas.hu, added: “At Vegas.hu, we have a history of providing exciting gaming experiences to Hungarian players through a portfolio of best-in-class titles.

“Thunderkick’s cutting-edge slots are sure to resonate with Vegas.hu players as we continue diversifying our content offering.”

The post Thunderkick enters Hungary with LVC Diamond brand Vegas.hu appeared first on European Gaming Industry News.

Continue Reading

Trending