Latest News
International Game Technology PLC Reports Fourth Quarter and Full Year 2024 Results
International Game Technology PLC reported financial results for the fourth quarter and full year ended December 31, 2024.
“2024 was a year of momentous transformation with the conclusion of our strategic review and the announced sale of our Gaming & Digital business for $4.05 billion in cash. Our unmatched capabilities in developing world-class Lottery solutions and innovative game content support several important investments to drive long-term growth and shareholder returns. We are well-positioned to continue strengthening our global lottery leadership,” Vince Sadusky, CEO of IGT, said.
“We delivered solid financial results in 2024, including robust cash flow generation to invest in the business, reduce debt, and return capital to shareholders. Our core, recurring business has a compelling low-to-mid single digit growth profile and provides a solid foundation as we head into our next CapEx cycle aimed at securing our portfolio and extending its duration to more than eight years,” Max Chiara, CFO of IGT, said.
Fourth Quarter 2024 Financial Highlights
Revenue of $651 million, down 4% compared to $681 million in the prior-year period, mainly due to comparisons with record product sales revenue in the prior year; current year period represents the second highest quarter for product sales revenue in Company history
• Strong instant ticket and draw game same-store sales growth across jurisdictions; Italy up 7.0%, 3.9% normalized for same number of selling days
• Elevated U.S. Multi-state Jackpot activity in the prior year inclusive of LMA incentive impact (which is recognized in Other service revenue)
• Higher central system software license, terminal, and instant ticket services in the prior year
• Negative impact of foreign currency rates
Operating income of $179 million compared to $197 million in the prior year, primarily driven by the items affecting Adjusted EBITDA as noted below, partially offset by lower restructuring costs
Income from continuing operations of $116 million versus $73 million in the prior-year period; income from continuing operations margin of 17.9% compared to 10.7% in the prior year
• Improvement in net interest expense primarily due to lower average borrowings on committed bank facilities and the refinancing of a senior-secured note at a lower coupon
• Foreign exchange gain versus foreign exchange loss in the prior year, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt
• Increased provision for income taxes primarily driven by higher pre-tax income and a discrete tax item, partially offset by foreign exchange gains that are taxable in a low-tax jurisdiction in the current year versus the impact of non-deductible foreign exchange losses in the prior year.
The post International Game Technology PLC Reports Fourth Quarter and Full Year 2024 Results appeared first on European Gaming Industry News.
Wyzia, the pioneering Canadian online payment solutions provider for regulated markets, is celebrating the renewal of its highly successful ongoing partnership with Betty, Ontario’s premier online slots casino.
This partnership, which began in 2023, is key to Wyzia’s expansion across North America. It supports players of Betty, an online casino catering to female players whose business is supported by Wyzia’s innovative, secure, and robust payment management solutions.
Wyzia is at the forefront of Canada’s fintech landscape, pioneering seamless online payment solutions for regulated markets. Its innovative platform connects merchants directly to all Canadian financial institutions, simplifying transactions and empowering businesses with reliable, efficient financial tools.
“We’re thrilled to celebrate a year of working with Betty with the renewal of our agreement,” said Guy Fietz, Group CEO at Wyzia. “Our collaboration has not only expanded our reach but enhanced the payment experience for Betty’s growing community of players.
“We look forward to continuing this successful collaboration and driving further innovation in the online gaming industry.”
Betty is the only platform created specifically for Ontario slot players. In 2024, Betty has enjoyed unprecedented growth, with a tenfold increase in net revenue since January and over 1000% growth in active players across Ontario.
By fostering a fun, safe, and supportive environment, Betty has harnessed the power of the female gaming audience to create a unique online casino experience. Betty focuses on transparency, community-based play, and gamification of the traditional slot experience.
This player-focused model has allowed Betty to stand out from other services, resulting in phenomenal growth and the ability to retain female players at a rate three times higher than their male counterparts.
Additionally, Betty automatically processes 99% of withdrawals, so players quickly receive their funds, a crucial benefit for online slot players.
“Our partnership with Wyzia has been instrumental in providing our players with a seamless, fast, and secure payment experience,” said Chavdar Dimitrov, Founder and CEO at Betty. “We are excited about the growth we’ve achieved together and are committed to delivering even better services to our community in the future.”
The post Wyzia Renews Canadian Partnership With Betty appeared first on Gaming and Gambling Industry in the Americas.
PopOK Gaming is making waves in the gaming world with the launch of two thrilling new titles in a single day: Eye on the Money—a collaboration with world-renowned street artist Alec Monopoly, and Avi—a high-flying crash game designed for adrenaline-fueled action. These dynamic releases showcase PopOK Gaming’s commitment to innovation, excitement, and engaging gameplay.
Eye on the Money: A Fusion of Art and High-Stakes Wins
PopOK Gaming is pleased to introduce Eye on the Money, a high-energy 3×5 slot with 25 paylines, featuring Alec Monopoly’s iconic graffiti-inspired style. This one-of-a-kind game blends luxury, art, and big wins, delivering a bold and vibrant slot experience.
Key Features That Keep You Spinning
– Wilds – Substitutes for regular symbols, helping players land bigger wins.
– Money & Jackpot Symbols – The Collect symbol gathers all Money and Jackpot symbols, boosting winnings.
-Free Spins – Unlock thrilling Free Spins with special reels packed with surprises.
– Super Game & Four Epic Jackpots – Enter the Super Game and pick from four jackpots for a chance at massive rewards!
With its bold artistic flair, engaging mechanics, and thrilling win potential, Eye on the Money is a must-play for slot enthusiasts and art lovers alike.
Avi: Get Ready to Fly PopOK Gaming’s Latest Crash Sensation!
Taking crash games to new heights, Avi offers an electrifying experience where timing is everything. Players place their bets, watch the multiplier rise, and must cash out before the crash to claim their winnings. With a 98% RTP and a 10,000x max multiplier, Avi delivers high-speed action and massive winning potential.
A Seamless and Immersive Experience
Sleek, modern interface for a smooth user experience.
Lightning-fast gameplay to keep players engaged.
Mobile-optimized design for seamless play on all devices.
Easy integration for operators, with full support from PopOK Gaming.
As crash games continue to dominate the market, Avi is set to become a player favorite, offering a thrilling mix of strategy, excitement, and high-stakes fun.
The post PopOK Announces Two Ground-Breaking Releases – Eye on the Money & Avi appeared first on European Gaming Industry News.
Latest News
Recommend a Startup & Earn 1% of Multi-Million Dollar Investments with Xanada Investments
Xanada Investments has introduced a new referral program, inviting industry professionals, entrepreneurs, and investors to participate in identifying high-potential startups. Through this initiative, those who successfully refer a startup that secures investment will receive 1% of the deal value, often translating into significant rewards from multi-million-dollar investments.
Participants can either submit a startup directly – ensuring the referred project mentions their name – or officially join the referral system by emailing [email protected]. Additionally, those who want to continuously recommend startups and act as official referral agents can reach out to discuss long-term collaboration opportunities.
Xanada Investments is actively seeking iGaming businesses with proven traction that are ready to scale, early-stage startups in the MVP phase preparing for launch, and industry professionals with solid business plans looking for strategic investment.
This referral program reinforces Xanada Investments’ mission to support the next generation of iGaming startups, ensuring that the best ideas reach the funding they need while recognizing and rewarding those who help make it happen.
Vladimir Malakchi, CEO & Managing Partner of Xanada Investments, commented on the launch: “We want to motivate the industry to take an active role in investment. By helping us connect with strong startups, participants not only support the fund but also benefit from the success of the projects they introduce. It’s a win-win for everyone – startups find the right investors, the fund discovers high-potential projects, and referrers are rewarded for their valuable connections.”
About Xanada Investments
Xanada Investments is an ideological investment fund led by industry visionaries, targeting PreSeed, Seed, and Series A funding of promising projects and their leaders who resonate with their ethos. The fund’s goal is to build an excellent xanadu-like business ecosystem, which will ideologically and strategically bond leaders into one community for the global idea of mutual prosperity.
The post Recommend a Startup & Earn 1% of Multi-Million Dollar Investments with Xanada Investments appeared first on European Gaming Industry News.
Wyzia Renews Canadian Partnership With Betty
PopOK Announces Two Ground-Breaking Releases – Eye on the Money & Avi
Recommend a Startup & Earn 1% of Multi-Million Dollar Investments with Xanada Investments
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