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Flutter boosts Italian presence with the acquisition of Sisal, Italy’s leading online gaming operator

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Flutter Entertainment plc is pleased to announce the acquisition of Sisal (“Sisal”), Italy’s leading online gaming operator, from CVC Capital Partners Fund VI for a consideration of €1.913bn/£1.62bn. This acquisition fully aligns with the Group’s strategy of investing to build leadership positions in regulated markets globally. The transaction is likely to complete during Q2 2022 and is expected to be accretive to adjusted earnings in the first 12 months post-completion.

Sisal is a leading betting, gaming and lottery operator headquartered in Milan. In the 12 months to December 20211, Sisal expects to generate EBITDA of €248m/£211m, with 59% coming from its online offering and the remainder coming from a combination of retail and lottery operations. Approximately 90% of Sisal’s 2021 EBITDA is generated in Italy with the balance coming from regulated lottery operations in Turkey and Morocco. The business employs circa 2,500 people today.

The addition of Sisal to Flutter delivers several key strategic outcomes:

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  • Secures a gold medal position in Italy by bringing the leading online brand into the Flutter portfolio. The combination of Sisal with Flutter’s existing online Italian presence through PokerStars and Betfair will result in a combined online share of 20%2
  • Increases the Group’s exposure to an attractive, fast-growing, regulated online market: Italy is Europe’s 2nd largest regulated gambling market and one that has seen online penetration grow from 10% in 2019 to approximately 20% today. Sisal’s online revenues have grown by a compound annual rate of 34% since 2016
  • Sisal’s omni-channel offering will deliver a competitive advantage to Flutter’s business, particularly given Italy’s advertising restrictions and the prevalence of cash deposits and withdrawals through retail
  • Increases Flutter’s recreational customer base with the addition of 300,0003 highly engaged online average monthly players and over 9.5m retail customers
  • Further diversifies Flutter’s product and geographical footprint and increases the proportion of Flutter’s revenue from regulated markets which in Q3 2021 was over 91%
  • Bolsters Flutter’s existing talent pool by adding a proven management team that will continue to lead the business and who have sought to take a leadership position in the promotion of safer gambling in Italy

Peter Jackson, Flutter Chief Executive, commented:

“I am delighted to add Sisal, Italy’s leading gaming brand, to the Group as we look to attain a gold medal position in the Italian market. For some time we have wanted to pursue this market opportunity via an omni-channel strategy and this acquisition will ideally position us to do so. Sisal has grown its online presence significantly in recent years, aided by its proprietary platform and commitment to innovation. I’m excited to see how Flutter can complement these capabilities through our scale, differentiated products and operational capabilities. We look forward to welcoming Francesco and the rest of the Sisal team to Flutter in 2022.”

Francesco Durante, Sisal Chief Executive, commented:

“Over the last five years, thanks to CVC’s support, we have successfully transformed Sisal into a leading digital and international gaming company. Through our commitment to digital innovation, international expansion and safer gambling, we have achieved a leadership position in Italy’s online gaming market and developed our global footprint by winning lottery tenders in Morocco and Turkey. We are delighted to join Flutter and are convinced that through its scale and operational capabilities, we will be able to further strengthen our leadership in the markets we operate in. I look forward to working with Peter and the team on the next chapter of Sisal history.”

Giampiero Mazza, Managing Partner at CVC Italy commented:

“We are very proud of the success achieved by Sisal and its transformation since our acquisition in 2016. Through heavy investment in its digital competencies, Sisal has become Italy’s leader in online gaming while also growing its international operations. Furthermore, the Company is leading the Ital-ian industry in ensuring responsible and safe gaming. We want to thank Francesco and the whole man-agement team for their incredible dedication, focus and ambition, and for leading this successful jour-ney in spite of regulatory challenges and the pandemic. Flutter is a fantastic new partner for Sisal and we wish them the very best.”

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Bazk

IBIA establishes innovative Payment Provider Forum to protect the integrity of the sports betting market in Brazil from financial fraud

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Six payment providers have signed a Declaration of Commitment and Participation

In a pioneering move to bolster the integrity of Brazil’s newly regulated and rapidly expanding sports betting market, the International Betting Integrity Association (IBIA) today launched a dedicated Payment Provider Forum with the explicit goal of protecting the market from financial fraud related to competition manipulation. The project has launched with six prominent payment providers already signed up to a Declaration of Commitment and Participation: Bazk, Z.ro Bank, OneKey Payments, OKTO, VPag and Pay4Fun.

With IBIA’s members forecast to generate over 70% of remote gross gambling revenue in Brazil, IBIA will play a key role in protecting the integrity of the sports betting market. Payment providers and other related financial services can also play a crucial role in ensuring the integrity of sports betting. The IBIA Payment Provider Forum has therefore been established to foster collaborative activities that contribute to a robust, secure and responsible gambling market in Brazil.

Regulatory and other institutions linked to financial payments and competition manipulation will be invited to join Forum meetings and engage in the development and implementation of preventative actions against financial fraud.

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The Forum will also benefit from IBIA’s extensive knowledge of sports betting integrity issues and trends, obtained from its global integrity monitoring and data intelligence network. That includes many of the world’s largest regulated betting operators, active across six continents, and partnerships with leading sports bodies and gambling regulatory authorities. It will also leverage IBIA’s expertise in establishing industry standards, such as its Data Standards Kitemark.

Khalid Ali, CEO at IBIA, said: “Cooperation between financial services, regulatory authorities and betting operators is essential to address the challenges from financial fraud and to maximise the potential of the sector in Brazil. IBIA is therefore delighted that these major payment institutions have agreed to explore collaborative activities to protect the market. Working together, we can create a sustainable and thriving sports betting market in Brazil that benefits all stakeholders. Cross-sector partnership working is a central pillar of IBIA’s global activity, and the association will be assessing the potential benefits of replicating this group in a wider international setting.”

To that end, the Declaration’s signatories have committed to:

  • Collaborate in the development of standards and best practices for payment processing.
  • Engage with regulatory bodies to defend a robust, fair and effective regulatory framework.
  • Promote responsible gambling and consumer, market and sporting event protection.
  • Share knowledge and expertise to innovate and improve the payments ecosystem.
  • Maintain the highest standards of ethical conduct and compliance with regulations.

The first meeting of the Forum will take place during SBC Rio.

The post IBIA establishes innovative Payment Provider Forum to protect the integrity of the sports betting market in Brazil from financial fraud appeared first on Gaming and Gambling Industry in the Americas.

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Financial reports

Gambling.com Group Announces Preliminary Record 2024 Fourth Quarter Revenue of Approximately $35.2 Million, Net Income of Approximately $7.8 Million and Adjusted EBITDA of Approximately $14.7 Million

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Introduces 2025 Guidance for Revenue of $170 to $174 Million and Adjusted EBITDA of $67 to $69 Million

Will Report 2024 Fourth Quarter and Full Year Results on March 20 and Host Conference Call and Webcast

Gambling.com Group Limited, a fast-growing provider of digital marketing services for the global online gambling industry, today provided select preliminary financial results for the fourth quarter and full year periods ended December 31, 2024. In addition, the Company introduced 2025 revenue and Adjusted EBITDA guidance as detailed below.

Preliminary 2024 Fourth Quarter Results:

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  • Total revenue of approximately $35.2 million
  • Net Income of approximately $7.8 million
  • Adjusted EBITDA of approximately $14.7 million, representing an Adjusted EBITDA margin of 42%1
  • Cash flow generated by operating activities of approximately $13.6 million
  • Free Cash Flow of approximately $13.1 million1

Preliminary 2024 Full Year Results:

  • Total revenue of approximately $127.1 million
  • Net Income of approximately $30.5 million
  • Adjusted EBITDA of approximately $48.5 million, representing an Adjusted EBITDA margin of 38%1
  • Cash flow generated by operating activities of approximately $37.6 million
  • Free Cash Flow of approximately $41.5 million1

“Our preliminary, record 2024 fourth quarter and full year results surpassed expectations due to our relentless focus on execution and the ability of our global portfolio of websites to continuously drive valuable, high intent traffic to our customers in a capital efficient manner,” said Gambling.com Group co-founder and CEO, Charles Gillespie. “Our operating performance continues to be led by the strong growth trajectory and attractive unit economics of iGaming revenue across all our operating regions. As reflected in our initial revenue and Adjusted EBITDA guidance for 2025, we are confident that our great positioning will drive yet another year of record performance with impressive continued revenue, Adjusted EBITDA and Free Cash Flow growth.”

The preliminary unaudited results provided in this release are derived from preliminary internal financial reports and are subject to revision based on the Company’s procedures and controls associated with the completion of its 2024 fourth quarter and full year financial reporting.

____________________________

  1. Represents non-IFRS information. See “Non-IFRS Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable IFRS numbers.

2025 Outlook
The Company today also introduced full year 2025 guidance for revenue of between $170 million and $174 million and Adjusted EBITDA of between $67 million and $69 million.

The Company’s guidance assumes:

  • Incremental Adjusted EBITDA contributions of approximately $14.5 million related to the acquisition of Odds Holdings, Inc. that was completed on January 1, 2025.
  • While online sports betting is expected to begin in Missouri in the second half of 2025, the Company’s guidance policy excludes any benefits from new state launches until such time as a definitive start date is announced by the appropriate regulatory body.
  • An average EUR/USD exchange rate of 1.05 throughout 2025.

2024 Fourth Quarter Conference Call and Webcast

Gambling.com Group will release its 2024 fourth quarter and full year results before the market opens on Thursday, March 20, 2025, and host a conference call and simultaneous webcast at 8:00 AM ET that day. During the call, Gambling.com Group Chief Executive Officer and Co-Founder, Charles Gillespie, and Chief Financial Officer, Elias Mark, will review the Group’s financial results and provide a business update, followed by a question-and-answer session.

The post Gambling.com Group Announces Preliminary Record 2024 Fourth Quarter Revenue of Approximately $35.2 Million, Net Income of Approximately $7.8 Million and Adjusted EBITDA of Approximately $14.7 Million appeared first on Gaming and Gambling Industry in the Americas.

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Extendy’s latest white label casino launch – BettySpin

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Launched at the start of February, BettySpin online casino sets out to offer players an unmatched casino experience. Powered by the Extendy platform, BettySpin is decked with a straight-forward, easily navigable interface set on a modern, intuitive platform. 

Commissioning the launch of BettySpin, Extendy’s partner company works closely with individual affiliates and specializes in strategic online advertising and customer acquisition within the iGaming sector. Having such a deep understanding of online casino players meant they knew exactly what they were looking for in terms of marketing ideas for their product, leaving Extendy to focus on their specialisation of launching a casino, from handling the legal and financial setups, to providing the software platform and games, technical support, and website development and hosting. “We completely trusted the Extendy team with this product. We came up with a few suggestions and made some small changes but they did all the hard work and they did a great job.” said a representative of the partner company.

BettySpin offers a diverse range of games to suit all player preferences – there are slots for the thrill-seekers, table games for the lovers of timeless classics, live casino games for players who prefer the interactive element, and Sportbook for the sport aficionados . Offering over 5000 games from over 50 game providers the likes of Play’n GO, Pragmatic Play, Amatic, Nolimit City, and Spinomenal, as well as daily bonuses, campaigns, promotions, tournaments, and highly sought after gamification features, players are surely in for an exciting experience. Licensed, regulated and secure, BettySpin operates in a strict regulatory environment, offers multiple and fast payment systems, and exceptional, multilingual customer support available 24/7. 

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BettySpin is currently available in five locations, however, the team is currently working on adding more locations to increase its reach over the coming months. Extendy’s client’s main traffic sources are a mix of affiliate partnerships: “We collaborate with external affiliate teams to drive traffic and acquire new players. Our affiliate partners are a vital part of our marketing strategy, and we focus on building strong, long-term relationships to ensure mutual success.” However, the team envisions that the largest contribution to traffic will come through social media. 

Committed to improvement, according to BettySpin’s proud new owner, product enhancements are in the pipeline: “We’re focused on continuous innovation to ensure our product stays ahead of market trends. We’ll also pay close attention to user feedback and make changes accordingly. Future updates will focus on enhancing personalization, integrating new features and expanding to additional GEOs.

Extendy has been operating since April 2024. In 2024 alone, the white label casino solutions provider has launched 10 projects, improving its processes consistently to keep elevating the player experience. 

The post Extendy’s latest white label casino launch – BettySpin appeared first on European Gaming Industry News.

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