The Starburst effect: how much do providers rely on golden oldies?

first_imgCasino & games With slots such as Starburst and Rainbow Riches still omnipresent across casino main pages worldwide many years after launch, iGaming Tracker’s Ken Muir assesses the reliance of the big providers on these titles Tags: Online Gambling Topics: Casino & games Marketing & affiliates Strategy Tech & innovation 24th May 2018 | By Stephen Carter With titles such as Starburst and Rainbow Riches still omnipresent across casino sites worldwide many years after launch, iGaming Tracker’s Ken Muir digs into the data to find out how the big providers rely on a few established titlesMost slots churn fast from operator homepages, prominent for just a few weeks before fading in popularity. Some games however stick’ on main casino homepages and retain their strong presence on sites worldwide.All major providers boast these types of games in their portfolio, which endure in popularity and on casino homepages for years. But how much do suppliers rely on a small number of these well-established games?To be clear, the analysis will only include content present on casino pages over time, and does not quantify the traffic to those sites or revenue. However, from this content share, it’s fair to assume that the revenue generated from these games broadly correlates.Turning first to NetEnt, the table below shows the position of over 150 of NetEnt’s games on the main pages of 262 sites from 1 March to 14 May 2018. The darker the shade of green, the newer the title. As you can see, the share of content is dominated by a few major titles.In fact, 35% of the total content share is spread across five games; Starburst, Gonzo’s Quest, Asgardian Stones, Hotline and Twin Spin.Starburst alone accounts for 13% of NetEnt’s total content share.What is perhaps more remarkable is the mix of newly launched games and old games. Many of the new games have a large content share. However, most of the big games are still the ‘Golden Oldies’. This pattern is not unique to NetEnt.SG Digital’s No 1 game, Rainbow Riches, accounts for 7% of their content share on the main pages. Their share is more distributed than NetEnt. However, similar to NetEnt, the majority of the big games are at least a year old. New games such as King Kong Fury have a large share. However it is likely that this will decline over the coming months, being replaced by more new game releases. But does this pattern vary across different countries and regions? We drilled down into the supplier data to see if countries had a contrasting mix of established vs. newer releases. The table below compares NetEnt content in a highly regulated market, Italy, with a very competitive dot.com grey market, Sweden. The Starburst effect: how much do providers rely on golden oldies? AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter As you can see from the heatmaps (again, the darker the shade, the newer the title) game distribution is far more even in the regulated market of Italy compared to Sweden.This would suggest that less open and competitive dot.country markets have less reliance on new game content and thus the share of new game releases is smaller. To conclude, the data illustrates the reliance by big suppliers on a relatively small amount of slot titles. In the main these popular titles are well entrenched. Whilst new game releases do have an initial impact, they tend to fade after a few weeks.This is an extract from this month’s iGaming Tracker analysis available as part of the iGB Intelligence Centre. You can request a free trial hereiGaming Tracker – how it worksiGaming Tracker tracks hundreds of casino sites worldwide every day. From this data it can ascertain which games are on which sites and where they are positioned on the pages. It can also measure the market share of casino games suppliers by percentage of “real estate” on casino sites at any given date.For more information visit www.igamingtracker.com or email [email protected] Email Addresslast_img read more

What’s driving growth in social casino?

first_img Topics: Casino & games Sports betting Strategy Poker Social gaming Table games Email Address Tags: Card Rooms and Poker Mobile AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Having reported a 33% increase in revenue for 2018, KamaGames chief executive Andrey Kuznetsov outlines what he believes will be the key drivers of growth in the social casino market in 2019.The social casino market continued to impress in 2018, growing 15% according to Eilers & Krejcik Gaming, which recently estimated that the value of the industry now stands at an impressive $5.20bn.At KamaGames we have grown for the last three consecutive years, and at the end of 2018 reported gross revenue of $76.4m, which saw us grow at more than double the rate of the overall market.These results beg the question – what exactly is driving the growth of social casino gaming?As mobile technology has progressed, its purpose has shifted from purely functional to partly recreational, especially in terms of online gaming. Where initially gaming was an activity exclusive to either computers or consoles, the development of the mobile gaming platform has introduced a new wave of games and, in turn, has given rise to social casino gamers.According to App Annie, mobile games was the fastest growing sector of the overall gaming market in 2018, beating consoles, PC/Mac and handheld gaming.Unprecedented choice It also predicted that mobile gaming will account for 60% of consumer spend in 2019, up 35% from 2013. But unlike a time when mobile games consisted of few options, today’s users have millions of games to choose from and unprecedented access to these games anywhere they go.Most players that are drawn to social casino are already somewhat familiar with the games. The industry has flourished because its operators then give their players new experiences with innovative variations on these games.A prime example of this reinvention can be seen with our own flagship title Pokerist. We’ve introduced titles such as Split Bet Poker and Set Poker to keep players interested and engaged with something new, while still playing the casino-style games they love.Another powerful driver of the social casino market can be personalisation – a trend which has dominated the majority of online activity in recent years.In gaming, this can come in the form of reaching out to players with specific offers that operators feel may appeal to them based on their previous activity or through the use of personalised promo campaigns, such as the ones we employed throughout 2018. For us, this positively resulted in an increased number of paying users and increased average revenue per paying user (ARPPU).Another boost for social casinos has been recognising how their players differ from real-money casino players and capitalising on that difference. As the name suggests, social casino players are driven by social engagement and operators have built their gaming model around this.Creating communities In gaming, socialisation focuses on the ability to interact with other players over the course of the many highs and lows of the game, engaging with them through in-game chats. For example, in Pokerist, not only can users engage with one another via chat options, but they can even send each other gifts and transfer dice throws in games like Craps.We believe these socialisation opportunities are responsible for creating ‘stickier’ communities within our own app and have resulted in the steady increase of daily active users (DAUs), which now sits at 630k, a 23.5% increase from the previous year.So what’s next for social casino games? For this industry, innovation is always the driving force.In 2018 we released Teen Patti, a social card game popular throughout India. Games of this sort are something we can certainly see being expanded further by the industry as developers target emerging markets with regionally popular games.Augmented reality (AR) and virtual reality (VR) also offer fantastic potential for the market and will form an increased presence as social casinos continue to attempt to create a more immersive and realistic casino experience for players.It has also been suggested that the next frontier for operators will be to branch out into other forms of competitive gaming, still within the realm of social. This comes with the rise of esports and sports betting and without saying too much, you can expect to see KamaGames make moves  into these fields in 2019.Andrey Kuznetsov served as managing director for KamaGames for the last five years and as acting CEO for the past two, before being formally appointed, chief executive officer in 2018. In his role, Andrey is responsible for the planning and the implementation of operations across the entire KamaGames business on behalf of the KamaGames board of directors. Subscribe to the iGaming newslettercenter_img Having reported a 33% increase in revenue for 2018, KamaGames chief executive Andrey Kuznetsov outlines what he believes will be the key drivers of growth in the social casino market in 2019.  What’s driving growth in social casino? 11th March 2019 | By contenteditor Casino & gameslast_img read more

Vera&John drives JPJ to growth in Q1

first_img Vera&John drives JPJ to growth in Q1 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Online bingo and casino operator JPJ Group has cited the performance of its Vera&John business as the main driver behind a 13% year-on-year increase in revenue during the first quarter. Tags: Online Gambling Subscribe to the iGaming newsletter Online bingo and casino operator JPJ Group has cited the performance of its Vera&John business as the main driver behind a 13% year-on-year increase in revenue during the first quarter.London-listed JPJ reported gaming revenue of £83.3m (€95.6m/$107.6m) in the three months to March 31, 2019, up from £74.0m in the same period last year.The operator’s Jackpotjoy business remains the main source of income, despite revenue from this segment falling 7% year-on-year from £52.8m in Q1 of 2018 to £49.1m in the most recent quarter.In contrast, the Vera&John business generated revenue of £34.2m, up by 62% on £21.2m in Q1 of last year.JPJ also noted an increase in costs and expenses for the quarter, with this total up from £63.4m to £69.1m, with higher spending across several areas of the group.Distribution costs in Q1 climbed from £38.2m to £41.3m, due in part to higher licencing fees of £11.0m and selling and marketing expenses of £14.9m. There was also an increase in administrative costs from £24.8m to £26.6m, mainly due to higher compensation and benefits expenses of £9.1m.Transaction-related costs such as legal, professional, due diligence and other costs associated with transactions, acquisitions or disposals by the group hit £1.1m, with JPJ having not spent anything in the comparative period.However, despite these higher costs, the increased revenue was enough to allow JPJ to post a net income of £7.9m for the first quarter, compared to a net loss of £8.0m last year.Adjusted net income was also up 18% from £19.1m to £22.6m, while adjusted earnings before interest, tax, depreciation and amortisation climbed 16% from £24.9m to £29.0m.Executive chairman, Neil Goulden, said he is pleased that the group was able to deliver a good quarter of growth, praising the performance of Vera&John in particular.“I’m pleased to report that the group has delivered another good quarter of growth,” he said. “Group revenues were up 13%, driven by a strong performance in Vera&John, while adjusted EBITDA increased by 16%.”Goulden also highlighted the sale of its Mandalay business to 888 Holdings in March for £18.0m, saying this will allow the group to focus on driving progress across its core market-leading brands in the UK.“We remain convinced of the growth opportunities in global online gaming markets and are confident that we are well-placed to take advantage of this positive backdrop and deliver value to shareholders,” he said.Analysts at Regulus were complimentary of the decision to sell Mandalay to 888 and also praised JPJ for “mitigating domestically regulated market issues with grey market growth”.However, Regulus also said while diversification is no doubt a positive for JPJ, the challenge is whether it can return to “strong and sustainable growth in domestically regulated markets – especially given that all three to which JPJ is currently exposed to are at the most liberal end of the regulatory spectrum” .center_img Bingo Topics: Casino & games Finance Bingo 15th May 2019 | By contenteditor Email Addresslast_img read more

Motherwell joins Paddy Power’s ‘Save Our Shirt’ campaign

first_img Topics: Marketing & affiliates Sports betting Subscribe to the iGaming newsletter Scottish Premier League football club Motherwell has become the latest team to sign a sponsorship deal with Paddy Power and join the bookmaker’s ‘Save Our Shirt’ campaign. 22nd July 2019 | By contenteditor Motherwell joins Paddy Power’s ‘Save Our Shirt’ campaign Marketing & affiliatescenter_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Scottish Premier League football club Motherwell has become the latest team to sign a sponsorship deal with Paddy Power and join the bookmaker’s ‘Save Our Shirt’ campaign.Paddy Power will serve as Motherwell’s title sponsor for the 19-20 season, but its logo will not appear on players’ shirts – in line with the new Save Our Shirt initiative.Despite the lack of shirt branding, Motherwell said the deal represents the largest jersey sponsorship in the club’s history.“We’re delighted to be associated with Paddy Power’s Save Our Shirt campaign,” Motherwell chairman, Jim McMahon, said. “It’s a fantastic achievement by our commercial team to get them on board.“Paddy Power are forward thinking and innovative, and it is a mark of how our fan-owned club is perceived in the world that we were able to attract such a high-calibre partner.”Launched last week, Save Our Shirt calls for betting operators to stop striking football shirt sponsorship deals. The campaign highlights how in the 2019-20 season, over half the teams in England’s top two divisions will be sponsored by a bookmaker.The campaign was unveiled after Paddy Power drew criticism over its new commercial deal with English Championship team Huddersfield Town, with much of this directed at the size of the logo on the front of the team’s shirts.However, despite the English Football Association (FA) contacting Huddersfield over concerns the deal breached its guidelines in terms of shirt sponsorship, the move was later revealed as a hoax, with the deal instead serving as a platform for promoting the new campaign.Paddy Power will still be the main sponsor of Huddersfield during the 2019-20 season, but it’s logo will be absent from players’ shirts as it seeks to encourage other bookmakers and gambling operators to follow suit.A Paddy Power spokesperson said: “We’re delighted that Motherwell are joining in the fun for the upcoming campaign and we’ve been impressed with their ability to keep their involvement top secret, despite all the noise of the past week.“We’ve been planning this with them for months, and it feels great to finally unveil their involvement and their beautiful home and away kits for next season.”“We know our place, and it’s not on your shirt.” Regions: UK & Irelandlast_img read more

Online casino fails to offset Danish slot and sport declines in Q3

first_img Denmark’s regulated gambling market has reported a marginal year-on-year decline in revenue, with declines in revenue from land-based gaming machines and sports betting offsetting growth in online casino.Total revenue for the three months to 30 September 2019 amounted to DKK1.61bn (£184.7m/€215.5m/$237.8m), a 1.0% drop from the prior year’s Q3 total of DKK1.63bn.Online casino continued to perform well, with revenue up 4.0% from 2018 to DKK567m, though this represented a 10.6% quarter-on-quarter drop. During the period, licensees generated revenue of DKK417m from slots, or 73.6% of all online casino revenue.Players still tend to access igaming sites via desktop computers, which accounted for 52.9% of revenue. This percentage has been steadily decreasing in recent quarters, with mobile’s contribution up to 47.1%, its highest share since the market opened in 2012.Land-based casinos revenue was flat, meanwhile, with the DKK82m total unchanged from the previous year. Average revenue per day per venue fell to DKK900,701.Sports betting remained the largest vertical in terms of revenue, accounting for DKK628m, or 39.0%, of the quarterly total. However, this was down 3.8% year-on-year, with the prior year including the latter stages of the Fifa World Cup in Russia.In this vertical, mobile reigns supreme, with the channel accounting for more than half (50.2%) of all revenue, which has seen the share of revenue from desktop betting fall to 16.7%. Land-based betting accounted for 33.1% of the total in Q3.Gaming machines also saw revenue decline over the three months, to DKK333m. Gaming halls accounted for 77.6% of all machine revenue, ahead of terminals in restaurants, which made up the remaining 22.4%.Denmark has also seen steady growth in the number of players taking advantage of the country’s national self-exclusion system Register Over Frivilligt Udelukkede Spillere (ROFUS). As of 30 September, 19,785 individuals had self-excluded, with 13,679 permanently blocking themselves from gambling sites.The remaining 6,106 have temporarily self-excluded. Of this number, 3,750 have blocked gambling sites for six months, with 1,645 doing so for a three-month period, and 711 for one month.Uptake in the StopSpillet problem gambling helpline also rose steadily in Q3. The service, which launched in January this year, has received 542 calls for the year to date, of which 194 were made in the third quarter.The majority (55.2%) were made by players, with a further 41.2% by relatives or dependents of gamblers, and 3.6% by treatment professionals. Regions: Europe Nordics Denmark Tags: Mobile Online Gambling OTB and Betting Shops Slot Machines 11th November 2019 | By contenteditor Topics: Casino & games Finance Sports betting Slots Email Address Subscribe to the iGaming newsletter Denmark’s regulated gambling market has reported a marginal year-on-year decline in revenue, with declines in revenue from land-based gaming machines and sports betting offsetting growth in online casino. Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Online casino fails to offset Danish slot and sport declines in Q3last_img read more

Victoria Wild by True Lab

first_img Email Address Subscribe to the iGaming newsletter 24th February 2020 | By Aaron Noy Victoria Wild has 15 paylines, three types of Wilds, collectible symbols, and three unique Free Spin locations with an extra reel. The Temple Scatters appear both in the base game and in the Oasis Free Spins – enabling a quick shift between bonus locations. Victoria Wild by True Lab Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Hunting for treasures, Victoria has to conquer the drought-ridden desert. Whenever two Tornado Wilds drop out on the reels, a Sandstorm begins. A Wild then randomly moves across the reels and collapses into a thunderstorm of sticky Tornado re-spins if two Wilds match.Victoria collects the Oasis symbols, advancing to the chilling splashes and soft palm shadows where Oasis Free Spins cure her fatigue with the Waterfall Wilds expanding to an extra reel.A dedicated Scatter will bring Victoria to the Lost Temple that opens the Secret Treasury and its Wheel of Desires once seven Lamp Wilds are collected – granting up to x25 the Free Spins total win, besides more Free Spins and loads of coins! Victoria Wild has 15 paylines, three types of Wilds, collectible symbols, and three unique Free Spin locations with an extra reel.The Temple Scatters appear both in the base game and in the Oasis Free Spins – enabling a quick shift between bonus locations.“With its complex features and really beautiful art, Victoria is a well-balanced and perfectly executed game. I believe it will drive interest at any casino and appeal to a diverse audience” said Mikhail Urazalinov, True Lab CPO.Check out the demo at https://vw.trueflip.co/. Topics: Casino & games Slotslast_img read more

BGC members pledge £100m to tackle problem gambling

first_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Betting and Gaming Council (BGC) has revealed that its five largest members will spend £100m (€111.4m/$125.4m) on improving treatment services for problem gamblers in the UK. Bet365, GVC Holdings, Paddy Power Betfair, Sky Betting and Gaming and William Hill will provide the funds to GambleAware, which will serve as the main commissioning agent for ensuring that the funds reach people who require counselling and treatment. The operators had already pledged to increase the amount that they spend on research, education and treatment services from 0.1% to 0.25% of annual revenue in 2020, then 0.5% in 2021, 0.75% in 2022 and 1% in 2023. “As the new body representing the regulated betting and gaming industry, we are committed to driving up standards,” BGC chief executive Michael Dugher said. “This latest funding commitment is yet more evidence of the industry’s determination to improve the quality and provision of treatment for problem gamblers – and of our members’ eagerness to get on with it as quickly as possible.” UK Health Secretary Matt Hancock also welcomed the news, saying that he was delighted the five operators are taking further steps to support treatment and provision for problem gamblers. Hancock added: “I’ve seen first hand how problem gambling can damage people’s mental health and affect the lives of those around them – and I’ve been determined to help protect vulnerable people from the impacts. “The government will continue to tackle the consequences of problem gambling by rolling out specialist services on the NHS, which will offer expert care and treatment for those who need it.” The pledge comes as the BGC also committed to working with its members to maintain high safety standards as betting shops in England begin to reopen from today (15 June).All betting shops have been closed since the UK entered into a novel coronavirus (Covid-19) lockdown on 23 March. However, the government will permit all non-essential retail stores, including betting shops, in England to open from today as part of the latest phase of the UK’s exit from lockdown.Shops in Scotland, Wales and Northern Ireland will not be permitted to open until their respective governments allow, while all casinos and adult gaming centres across the UK are also to remain closed for the foreseeable future.GVC Holdings last week confirmed it would reopen all 2,445 of its Ladbrokes and Coral betting shops in England from 15 June, while Flutter Entertainment is also set to resume activities at its English shops from today.All shops will be required to put in place a host of new measures to protect both staff and customers when inside the store. For betting shops, these will include limiting the number of people allowed in the shop at a time, encouraging social distancing and installing hand sanitiser machines for use on-site.BGC chief executive Michael Dugher said while today will be a “significant day” for the UK with non-essential retail stores to reopen, it is critical that betting shops do whatever they can to protect employees and punters.“It’s clear that our members have gone above and beyond what’s been asked of them to provide the safest possible environment for their employees and customers,” Dugher said.“I saw for myself all the hard work that’s gone in to making our members’ shops Covid-secure when I visited the Coral branch in Tottenham Court Road last week. New ‘sneeze screens’ have been installed at the till to protect staff and customers, and markings and signs have been put up making clear the two-metre social distancing rules.“Meanwhile, as an added safety measure, William Hill are bringing in ‘call-over’ betting, where the customer tells the person behind the counter their selection, rather than having to fill in the traditional bookies’ line and hand it over.”Dugher added that the BGC will continue to work with its members to ensure they maintain high safety standards and operated in line with current meaures.“For many, the local bookies’ is at the heart of their community – creating good jobs, helping the economy and providing an opportunity for a flutter for the millions of people in Britain who like a bet,” Dugher said.“And with doors now open, for the BGC, as the new standards body for the betting industry, our work to ensure higher standards on safer gambling will go on.”The reopening of betting shops comes ahead of this year’s Royal Ascot, one of the largest events on the UK horseracing calendar, which begins tomorrow and runs to 20 June.A number of BGC members including Paddy Power Betfair, bet365, Ladbrokes Coral, William Hill, Sky Bet, Betway, BetVictor and Kindred Group have agreed to donate profits from win and each-way bets from the Britannia Stakes on 18 June to charity.The Britannia Stakes takes place on Ascot Gold Cup Day, the biggest betting day of Royal Ascot week, with the money raised by the operators to be split between Prostate Cancer UK, Marie Curie, The Care Workers Charity and the Berkshire Community Foundation Coronavirus Fund.In April, a group of BGC members also donated £2.6m (€2.9m/$3.3m) in profits from the 2020 virtual Grand National to the UK’s National Health Service (NHS). The virtual event replaced the showpiece Grand National, which was cancelled due to Covid-19.“Royal Ascot is the premier highlight of the racing calendar, and it’s fitting that the profits betting companies make from one of its greatest races will go towards some fantastic causes,” Dugher said.“The betting and gaming industry has stepped up to the plate to help the national effort, and I’m delighted that again we can show our support for those on the front line with this fantastic initiative.” 15th June 2020 | By contenteditor Subscribe to the iGaming newsletter BGC members pledge £100m to tackle problem gambling The Betting and Gaming Council (BGC) has revealed that its five largest members will spend £100m (€111.4m/$125.4m) on improving treatment services for problem gamblers in the UK. Regions: UK & Ireland Tags: Online Gambling OTB and Betting Shops Slot Machines Casino & games Topics: Casino & games Finance Sports betting Strategy Slotslast_img read more

Pagcor issues public warning over unlicensed gambling

first_img Tags: Online Gambling Subscribe to the iGaming newsletter The Philippine Amusement and Gaming Corporation (Pagcor) has issued a warnings to citizens about the dangers of illegal gambling, after receiving reports about illegal online bingo games being organised in the country. Legal & compliance Regions: Asia Philippines Pagcor issues public warning over unlicensed gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance 30th June 2020 | By contenteditor The Philippine Amusement and Gaming Corporation (Pagcor) has issued a warnings to citizens about the dangers of illegal gambling, after receiving reports about illegal online bingo games being organised in the country.The regulator warned that these games, which were being promoted through Facebook, were exploiting uncertainty caused by the novel coronavirus (Covid-19) pandemic to steal players’ money, financial information and commit identity theft.Furthermore, Pagcor pointed out, playing these illegal products is also a crime.“Pacgor is committed to the prosecution of persons involved in such illegal activities, because of the strong link between illegal gambling and organised crime who are also engaged in credit card fraud, identity theft, money laundering, among others,” it explained.The regulator’s warning comes after the Philippines Offshore Gaming Operators (POGOs) saw operations significantly disrupted by Covid-19. These operators were ordered to temporarily cease activities from 18 March, but it was announced on 1 May that they would be permitted to resume operations, provided their tax affairs were in order.This meant that they had to have paid all franchise tax owed to Pagcor, as well as additional taxes to the Bureau of Internal Revenue, and regulatory fees for April. However, with many operators in arrears, this has led to significant delays in their return to business.According to local media, a number of POGOs have either confirmed or are planning to pull out of the market as a result of the disruption, with a number of service providers also thought to be shutting down.While POGOs have long been controversial, to the point that China has demanded the industry be shut down because of targeting of Chinese nationals, they are a significant contributor to the Philippines economy, providing more than 31,556 jobs as well as tax revenue.The industry is also a major source of funding for the real estate industry, which has earned an estimated PHP25bn from leaseholds and rent payments, according to Pagcor.For the three months to 31 March 2020, gambling revenue from Pacgor’s sector fell 5.7% year-on-year to PHP17.22bn, with land-based casinos shuttered from 15 March. Facilities in certain parts of the country began to reopen from 8 June, though were limited to 50% capacity, with larger facilities unlikely to follow until July. Email Addresslast_img read more

Bet-at-Home sees revenue and earnings fall in first half

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Bet-at-Home sees revenue and earnings fall in first half Casino & games Betclic Everest Group subsidiary Bet-at-Home said it remains on track to hit its full-year targets despite withdrawals from newly-regulated markets and the novel coronavirus (Covid-19) pandemic causing a decline in first half revenue and earnings. Betclic Everest Group subsidiary Bet-at-Home said it remains on track to hit its full-year targets despite withdrawals from newly-regulated markets and the novel coronavirus (Covid-19) pandemic causing a decline in first half revenue and earnings.Turnover for the six months to 30 June amounted to €1.46bn, down 8.0% year-on-year, and after player winnings, gross betting and gaming revenue amounted to €62.3m, down 12.4% from €71.1m in the corresponding period last year.Bet-at-Home blamed the decline on “legal restrictions in individual markets” – such as Switzerland, from which it was forced to withdraw – and the Covid-19 pandemic. The operator explained that Covid-19 began to affect the business in mid-March, when sporting events were cancelled and postponed. However, it added, demand for alternative betting remained almost unchanged, as customers switched to esports and sports that had previously not been major revenue generators. It also said that the return of some sports from May meant its usually low-revenue summer months were positively influenced, with this trend set to continue into the H2 as more sports return.The online gaming segment including casino, live casino, virtual sports and poker was not negatively impacted by the pandemic, the operator noted.Betting fees and gaming levies amounted to €10.9m in the first half, up from €10.2m last year, while the business paid €2.4m in value added tax on electronic services.As such, net betting and gaming revenue after levies came in at €49.1m, a drop of 16.4% from €58.7m in the first half of 2019. However, the operator was able to increase its customer base year-on-year, registered player numbers rising from 5.1m to 5.3m by the end of June.In terms of spending, Bet-at-Home did not release a full breakdown of profits, but did reveal that marketing expenses were down by 18.6% to €13.6m, primarily due to the postponement of the UEFA’s European Football Championship until 2021 due to the Covid-19 pandemic.Earnings before interest, tax, depreciation and amortisation for the six-month period amounted to €15.8m, down 25.8% on a year-on-year basis. Earnings before taxes also slipped 27.0% from €20.4m to €14.9m.Focusing in on the operator’s performance in the second quarter, gross gaming and betting revenue totalled €30.1m, while net gaming revenue amounted to €23.5m.EBITDA for the three months to 30 June came in at €6.8m, down by 20.9% from €8.6m in the same period last year, while earnings before taxes totalled €6.3m for the period. However, despite some struggles in the first half, Bet-at-Home said it remains confident of meeting its 2020 targets. Gross revenue for 2020 is set to amount to between €120.0m and €132.0m, while EBITDA is forecast at between €23.0m and €27.0m.This follows similar guidance given after the first quarter, during which Bet-at-Home saw some level of decline, but remained upbeat about its full-year performance. Tags: Online Gamblingcenter_img Topics: Casino & games Finance Sports betting Email Address Subscribe to the iGaming newsletter 3rd August 2020 | By contenteditorlast_img read more

Svenska Spel to close Casino Cosmopol site in Sundsvall

first_imgCasino & games Regions: Europe Nordics Sweden 14th August 2020 | By contenteditor Svenska Spel to close Casino Cosmopol site in Sundsvall Swedish operator Svenska Spel has announced that it is to permanently close its Casino Cosmopol land-based venue in Sundsvall due to a decline in profits and footfall at the property. Topics: Casino & games Strategycenter_img Subscribe to the iGaming newsletter Swedish operator Svenska Spel has announced that it is to permanently close its Casino Cosmopol land-based venue in Sundsvall due to a decline in profits and footfall at the property.Casino Cosmopol Sundsvall opened in 2001, with Svenska Spel describing the site as the first international casino in Sweden, but the operator has seen a drop in demand at the facility in recent years.According to Svenska Spel, the number of players visiting the casino has fallen constantly over the last 10 years, which has in turn had a negative impact on the financial performance of the property.The operator also said that the transition of players from land-based gambling to online also harmed the casino. The closure comes into immediate effect, with the decision to impact all 68 staff employed at the property.The operator said it will invite former Sundsvall employees to apply for other jobs across its network.“It is a sad message to have to give to our talented employees, but we must adapt to prevailing market conditions,” Svenska Spel president and chief executive Patrik Hofbauer said“With a constantly declining customer base, the casino in Sundsvall is no longer profitable and then it is unfortunately not commercially defensible to continue to run the business.”Svenska Spel said the closure of the Sundsvall site will not impact its properties in Stockholm, Gothenburg and Malmö, though all of its locations are currently shut due to the novel coronavirus (Covid-19) pandemic. The casinos were shuttered on 29 March, with 800 of its 900 land-based staff furloughed, and no reopening date has yet been set.The operator has since launched a retraining scheme, allowing furloughed employees to retrain as healthcare workers. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more