Latest News
Tekkorp Capital Continues Expansion; Former CFO of William Hill US Bolsters Team
Tekkorp Capital, the investment vehicle founded by gaming entrepreneur Matt Davey, has added former William Hill US Chief Financial Officer, Mark McMillan, to its advisory team as a Partner, consolidating the strength of its industry-leading team.
McMillan brings over 20 years of experience in corporate finance and strategy to bear at the Company. Having worked in investment banking, he joined William Hill in its M&A team and latterly as CFO for its US business, overseeing its transition through the repeal of PASPA and its development into a national sports betting leader, resulting in its eventual sale to Caesars Entertainment.
McMillan joins an illustrious team of seasoned executives in the online gaming industry. The group has held a host of C-Suite roles, including CEO, MD, CFO, COO and CMO, alongside cultivating a distinguished M&A reputation which has, in aggregate, completed over $24bn of deals. The team includes Crispin Nieboer, former William Hill Online MD, Andy Clerkson, US media and gaming specialist, and Steve Schrier, ex-CCO of SG Digital.
Commenting on his appointment, McMillan said: “I’m thrilled to be joining Tekkorp Capital. As part of a multi-faceted team, I will assist my fellow partners in delivering strategic and value-additive solutions for our clients at this exciting time for the iGaming sector. Tekkorp has expanded rapidly and I am excited to be a part of its development.”
Elsewhere, President Robin Chhabra has been promoted to CEO of the group, with Matt Davey moving to the Chairman role.
Chhabra, Tekkorp Capital CEO, commented: “We’re delighted to have added another Tekkorp Capital partner as well-respected as Mark. Collectively, our team has led many business transformations, as well as executing a number of the most significant merger and acquisition transactions in the sector. Our combined history as hands-on operators represents our core strength and differentiator, allowing us to solve our clients’ critical strategic issues and help them create value.”
Davey, founder and Chairman of Tekkorp Capital, added: “Tekkorp Capital has grown rapidly over the last couple of years. Robin Chhabra has done an incredible job in not only building the team but also setting the standard for M&A across the industry. I couldn’t be more pleased to have Mark join our world-class team.”
Atlanta
Scientific Games Commemorates Official Ribbon-cutting for Advanced Instant Scratch Game Production Technology at Global Headquarters
Scientific Games celebrated highly advanced new instant scratch game production technology with a ribbon cutting at the company’s metro Atlanta global headquarters. The new high-definition technology, which completes Scientific Games’ recent USD$65 million investment in instant game production technology at its facilities worldwide, is officially producing scratch games for the company’s global lottery customers. The technology provides the highest, level of game security, quality and innovation in the lottery industry.
“The most important benefit this advanced technology offers our lottery customers worldwide is Scientific Games’ ability to accelerate instant scratch game innovations to excite existing and future players and deliver games faster, ultimately to help lotteries generate monies for the causes they support,” said John Schulz, President, Americas and Global Instant Products for Scientific Games.
With Scientific Games’ instant products representing 70% of global retail sales, the company supplies 114 government-regulated lotteries worldwide with scratch games – a $123.9 billion consumer product that generates an estimated $32.1 billion in funding for lottery good cause programs annually (La Fleur’s 2024 World Lottery Almanac).
“Scientific Games has invested in the most advanced instant game production technology in the lottery industry today as part of our long-term plans to serve our global lottery customers. We are committed to continued investment to evolve scratch game play for responsible consumer entertainment experiences,” said Schulz. “As a trusted supplier to the world’s government lotteries, we understand our role to help ensure their instant game business remains strong and innovative while growing responsibly to fund vital good cause programs.”
The new technology’s enhanced capabilities offer lotteries more flexibility to plan and quickly produce games featuring specialty finishes and unique playstyles, and with the same environmentally sound approach they expect from Scientific Games. The company uses recyclable paper, water-based inks and energy-efficient production processes as part of its environmental stewardship. This consciousness combined with the company’s industry-leading instant game experts allows Scientific Games to continually innovate new play experiences that entertain consumers.
“Our people are the reason Scientific Games continues to produce the top-performing scratch games in the world. They are truly experts in all aspects of the scratch game development process, starting with consumer insights that guide game design and planning, which then leads to secure programming and production, followed by robust performance measurement analytics. Their passion shines through every day and it’s why we are able to offer this advanced, new technology for our industry,” said Schulz.
Scientific Games is the largest creator, producer and manager of lottery instant games in the world. The company developed the first secure instant scratch game in 1974 and its game security has set the bar for the global lottery industry since, ensuring that no one ever knows where the winning tickets are located. Celebrating its 50th anniversary in 2023, Scientific Games has five instant game facilities on four continents.
- Revenue for the 1st quarter of 710 million euros, up 7%
- Gaming revenue[1] in France of 645 million euros, up 3% on a high basis of comparison in the 1st quarter of 2023
- Strong momentum in online games, with revenue of 100 million euros, representing almost 15% of the Group’s total gaming revenue
- Tender offer for Kindred opened on 20 February 2024 for a maximum period of 9 months
- The completion of the tender offer remains subject, in particular, to obtaining regulatory approvals and to FDJ acquiring at least 90% of Kindred’s share capital
La Française des Jeux (FDJ), France’s leading gaming operator, has announced its revenue for the 1st quarter of 2024.
Stéphane Pallez, Chairwoman and CEO of the FDJ Group, said: “FDJ has made a good start to the year, in line with its 2024 objectives. All our activities are growing, thanks to our network of over 29,000 retailers and a dynamic online gaming business, which now accounts for 15% of the Group’s gaming revenue. We are also confidently pressing ahead with the Kindred acquisition announced at the end of January.”
Highlights of the 1st quarter of 2024
- Revenue up 7% to 710 million euros
|
Q1 2024 €m |
Q1 2023 €m |
Change in % |
of which change on a like-for-like basis
% |
|
| Lottery | 504 | 497 | +1.4% | +1.4% |
| Sports betting and competitive
online gaming |
141 | 129 | +9.5% | +0.9% |
| Other activities | 65 | 37 | +77.4% | -3.7% |
| Group total | 710 | 662 | +7.2% | +1.1% |
Revenue for the 1st quarter of 2024 came to 710 million euros, up 7.2% and 1.1% on a like-for-like basis, a performance in line with Group projections.
- Gaming revenue in France rose by 3.1% to 645 million euros.
- Lottery revenue rose by 1.4% to 504 million euros, driven by over 4% growth in instant games, driven by the success of gaming portfolio animation such as the launch of Ticket d’Or (€5) at the beginning of January. Draw games, as expected given the unfavourable base effect, mainly for Amigo, were down by 3%. Excluding Amigo, which decline is attributable to its new formula launched at the beginning of June 2023 has stabilised, lottery revenue would have grown by more than 4%.
- In sports betting & online gaming open to competition, revenue came to 141 million euros, up 9.5% and up 0.9% excluding the integration of ZEturf, despite a high basis for comparison in the 1st quarter of 2023, which had benefited in particular from the very positive impact of the World Cup at the end of 2022.
This performance is attributable to the strong growth in revenue of ParionsSport En Ligne, which rose by more than 25%; which, in addition to its intrinsic momentum, also benefits from the attractiveness of poker, with a high level of cross-selling.
- Revenue from other activities (International and Payment & Services) came to 65 million euros, compared with 37 million euros in the 1st quarter of 2023, an increase attributable to the integration of PLI, which performed well, driven in particular thanks to EuroDreams.
- The momentum of online games remains very strong, with revenue up by more than 30% to 100 million euros, representing almost 15% of the Group’s total gaming revenue. Excluding ZEturf and PLI, growth in online games revenue exceeded 20%, driven both by sports betting and online gaming open to competition and by the online lottery, which benefited from EuroDreams’ very high rate of digitalisation, as well as from the attractiveness of instant games and of the exclusive online offer.
- Tender offer for Kindred
- On 20 February 2024, the tender offer for Kindred was opened for a maximum period of 39 weeks. Its completion remains subject, in particular, to obtaining regulatory approvals and to FDJ acquiring at least 90% of Kindred’s share capital.
- On 15 March 2024, Kindred’s shareholders at an Extraordinary General Meeting approved an amendment to the Articles of Association to allow a squeeze-out procedure to be implemented by any shareholder holding at least 90% of Kindred’s share capital.
- On 28 March 2024, following Veralda’s offer to sell 49% of its Kindred shares, i.e. 2.4 million shares corresponding to 1.12% of the outstanding shares, at a price of SEK122.5 per share, FDJ decided to exercise its right of pre-emption linked to Veralda’s irrevocable commitment, communicated when the transaction with Kindred was announced on 22 January 2024.
As a result, FDJ acquired 2.4 million Kindred shares for SEK 294 million (€25.8 million) and Veralda’s irrevocable commitment continues to apply to its remaining 1.18% stake in Kindred. FDJ now holds 1.12% of Kindred’s outstanding shares and the irrevocable commitments (Corvex Management LP, Premier Investissement SAS, Eminence Capital, Nordea and Veralda) now represent 26.82% of Kindred’s outstanding shares.
Annual General Meeting
FDJ’s Annual General Meeting will be held on Thursday 25 April 2024 at 14.30 at the Palais des Congrès in Issy-les-Moulineaux (25, avenue Victor Cresson – 92130
Issy-les-Moulineaux).
On this occasion, the Group will propose a dividend of 1.78 euro per share in respect of the 2023 financial year, to be paid on 7 May 2024.
Next financial communication
FDJ will publish its half-year results on Thursday 25 July 2024 after the close of trading.
The post Good 1st quarter of 2024 for FDJ, in line with Group projections appeared first on European Gaming Industry News.
Affilka by SOFTSWISS, a leading affiliate management software provider, is approaching a new milestone of 360 brands in Q1’24.
The first quarter of the year brought remarkable achievements to the Affilka by SOFTSWISS team. The Asian gaming community recognised the company’s affiliate management software as the Best Affiliate Marketing Solution on the market.
This year, Affilka’s team participated in iGB Affiliate London 2024 with a dedicated stand for the first time. During the concurrent iGB and ICE events, the team had nearly 200 meetings over several days. First agreements quickly followed and were signed shortly after the exhibition period.
Affilka by SOFTSWISS experienced substantial growth, adding 47 new brands to its partner network, bringing the total to nearly 360 brands in Q1 2024. More than 33 thousand new affiliate accounts were registered during this period, marking a 118% increase compared to the previous year’s last quarter.
The rise in new affiliate accounts has led to an acceleration in new player registrations, exceeding 7.4 million over the first quarter of the year. Compared to the last quarter of 2023, this metric demonstrated a 106% increase.
The number of unique clicks on referral links with Affilka by SOFTSWISS during this period showed 115% growth and reached almost 436 million in absolute numbers. The rising metrics underscore the crucial role of effective affiliate management in achieving success within the iGaming industry.
Moving to the financial metrics of Affilka by SOFTSWISS, stable growth is evident over the first quarter of 2024 compared to the last quarter of 2023. The affiliate GGR revealed a 112% increase, while the player deposit amount showed a 113% enlargement. The growth within affiliate payments amounted to 117% in Q1’24 compared to the previous quarter.
Anastasia Borovaya, Head of Affilka by SOFTSWISS, summarises: “The recent product performance showcases a steady and continuous growth trajectory, a testament to our ongoing investment in innovation and user experience enhancement. Acknowledging affiliate marketing’s crucial role in the iGaming ecosystem, we prioritise delivering exceptional service to exceed our clients’ expectations.”
The global affiliate marketing industry is expected to double in size within the next five years. Finding a reliable affiliate marketing platform provider ensures a competitive edge in the rapidly expanding market.
The team is ready to share valuable industry insights and unveil the upcoming updates at the SiGMA Americas Summit in San Paulo on 23–25 April. Clients and potential partners can book a meeting with the Affilka team at stand i70 on the SOFTSWISS events page.
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
The post 47 New Brands in Q1’24: Affilka by SOFTSWISS Results appeared first on European Gaming Industry News.
Scientific Games Commemorates Official Ribbon-cutting for Advanced Instant Scratch Game Production Technology at Global Headquarters
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47 New Brands in Q1’24: Affilka by SOFTSWISS Results
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