Month: March 2021

Hillman stepped down as CEO of slots specialist NetEnt this month following its SEK19.6bn (£1.67bn/€1.93bn/$2.28bn) acquisition by Evolution.

Ranked as one of the industry’s most influential women by iGB in 2019, Hillman joined NetEnt in January 2017 as chief financial officer. She went on to become interim CEO in April 2018, before moving into the role on a full-time basis in the following month.

Prior to this, she had a spell as CEO of sports nutrition business Gymgrossisten and spent time serving on the board of Unibet Group, which later became Kindred.

The proposition from Better Collective’s nomination committee will be discussed at the affiliate’s annual general meeting on 26 April.

“Therese’s experience from the igaming market is highly relevant for Better Collective,” Better Collective chairman Jens Bager said. “Therese will, among other things, support the company in its ambitious strategy to continue consolidating the market and growing in new markets such as the fast growing US sports betting market.”

Better Collective’s nomination committee also proposed re-electing Bager as chairman of the board, as well as Todd Dunlap, Klaus Holse, Leif Nørgaard and Petra von Rohr as board members.

However, it was confirmed that Søren Jørgensen will not seek re-election to the board, but will instead take on consultancy role with Better Collective founders Jesper Søgaard and Christian Kirk Rasmussen.

“I would like to thank Søren for his outstanding efforts on the board since 2014,” Bager said. “Søren has been instrumental in shaping the M&A strategy and building the in house knowledge that has led to 20 acquisitions so far.”

The proposed board appointments come after Better Collective last month said that merger and acquisition activity during its 2020 financial year helped drive year-on-year growth in both revenue and profit.

Overall revenue for the 12 months to 31 December 2020 was up 35.3% year-on-year to €91.2m, while profit also increased 57.6% to €21.9m.

In the role, Boje will focus on continuing GLI’s innovative efforts, maintaining the company’s employee engagement culture, and leading the GLI engineering teams.

Boje brings more than 35 years’ experience in gaming and hospitality to his new role, with particular experience in marketing and workflow re-engineering.

“I am very pleased to welcome James to the team.” said GLI managing director for EMEA Martin Britton.

“His leadership and gaming knowledge will make a significant contribution to the overall experience within GLI and with our customers. He has been a key driving force in his previous roles with his enthusiasm, skill, and professionalism, which he now brings to GLI.”

Boje previously held the position of managing director for Aristocrat Technologies. He also held senior leadership roles with IGT Europe and Africa.

The state-owned gambling operator has sponsored the national team for decades and plans to do so during next summer’s World Cup – according to a statement from from Svenska Spel’s sustainability manager Kajsa Nylander and sponsorship manager Nicklas Biverstahl.

The decision to host the tournament in Qatar has proved to be controversial, with Svenksa Spel acknowledging that the country ‘lacks respect for human rights’.

Instead, the company has chosen to see the competition as an opportunity for change, rather than an excuse to boycott.

On behalf of Svenska Spel, Nylander and Biverstahl said: “We understand that many people feel that a boycott is the most reasonable choice, when championships are decided in countries that lack respect for human rights.

“We do not advocate general demands for a boycott. Instead, we believe that the Football Association should be there and do what they can to contribute to long-term change, both within the country and within FIFA when host countries are chosen in the future.

“So, even if in this case we regret the choice of host country, our ambition is to do what we can to contribute to long-term social improvement. We believe this is a better choice than a boycott.”

Bhushan currently serves in the same position at NetEnt, having only taken on the role of CTO at the developer in September of last year.

He began his career as a software developer with Adobe in India before joining NetEnt in 2009. Starting as a system architect, he moved up through the business to become platform director and managing director of NetEnt India and, more recently, group CTO.

At Aspire, Bhushan will manage the supplier’s technology department, including the technology operations and development teams, IT, and security.

“I’m happy to join Aspire Global and play a part in realising the vision to become the world’s leading iGaming supplier,” Bhushan said.

“Aspire Global has consistently executed its growth strategy and recently made strategically important acquisitions that position Aspire Global as a leading iGaming supplier.”

Aspire chief executive Tsachi Maimon added: “I’m very happy to welcome Aditya Bhushan to Aspire Global, who will bring with him significant experience in producing eminent slot games and casino platforms.

“He will be key in structuring an agile and scalable tech organisation across multiple jurisdictions worldwide, as well as in further developing Aspire Global’s leading offerings to iGaming operators.”

The appointment comes after Aspire this month announced plans to undertake a review of its B2C segment as part of an effort to accelerate growth, following a record revenue performance in 2020.

Aspire posted €161.9m (£139.7m/$191.4m) in revenue for the 12 months to 31 December 2020, a record for the business, while earnings before interest, tax, depreciation and amortisation also reached a new high of €27.1m.

The deal – which both boards said would help the combined business capitalise on the growing US market – would see Bally’s pay £18.50 per Gamesys share, representing a 12.7% premium on Gamesys’ closing share price yesterday (23 March). 

Alternatively, its shareholders may exchange their holding for 0.343 newly issued Bally’s shares per Gamesys share. Bally’s shares were trading at $66.34 per share at market close in New York yesterday, meaning 0.343 shares would be worth £16.55 at the day’s exchange rate.

The founders and executives of Gamesys have already agreed to choose the share offer if the deal goes through. This means the maximum amount of cash that may be paid in the deal is £1.6bn.

Lee Fenton, currently chief executive of Gamesys, would become chief executive of the combined group, and two further Gamesys directors would join its board.

George Papanier, chief executive of Bally’s, would stay on the board after the merger and move into a new role running Bally’s estate of land-based casinos.

Explaining the rationale for the deal, the boards pointed to the size of the emerging US online market.

“Bally’s and Gamesys believe that having a combination of both proven, developed technology and land-based platforms across key US states, with global brands, existing customer bases and complementary product offerings will be key to taking advantage of these growth opportunities,” the deal announcement noted.

In addition, the board said that Gamesys would benefit from Bally’s land-based presence, while Bally’s would benefit from the Gamesys technology platform.

“We believe that this combination would mark a transformational step in our journey to become a leading integrated, omni-channel gaming company with a B2B2C business,” Bally’s chair Soo Kim explained.

“We think that Gamesys’ proven technology platform alongside its highly respected and experienced management team, combined with the US market access that Bally’s provides, should allow the combined group to capitalise on the significant growth opportunities in the US sports betting and online markets.

“We are truly excited about the opportunities that this combination would offer and the enhanced and comprehensive experience and product offering that it would enable us to offer our customers.”

Fenton said the businesses shared an “entrepreneurial energy” that would create “a uniquely powerful company”.

“Our shared passion and vision to capitalise on technology disruption to better serve our customers, wherever they may be, should make for an exciting journey for our employees, customers and shareholders alike.”

The boards added that the new business may “pursue growth opportunities through reinvestment and strategic M&A.”

Bally’s intends to finance the deal via a bridge facility, which will be partially refinanced with a capital raise.

Bally’s – formerly known as Twin River – has engaged in a spate of M&A in recent months. This included a deal to acquire daily fantasy sports (DFS) operator Monkey Knife Fight, which closed yesterday, and its pending acquisition of sports betting platform supplier Bet.Works.

The Gamesys Group, meanwhile, was formed when JackpotJoy acquired the legacy Gamesys business.

GameCo said funds raised through the round, which also drew interest from a number of existing investors, will be used to help develop new game titles and expand the scope of its online, esports betting and retail businesses.

This, GameCo said, will support its ongoing aim of expanding into more markets around the world. The developer is currently licensed in over 30 jurisdictions globally, including New Jersey in the US.

“We’re thrilled to bring on board new investors like Playtech and SpringOwl, who represent the best-of-the-best in strategic financiers, to help us advance these exciting business initiatives,” GameCo chairman Robert Montgomery said.

“The online gambling space represents an enormous opportunity for GameCo to capitalise on mobile-native Gen X and Millennial players – core constituents within the digital gaming and esports industries.”

In related news, GameCo has entered into a long-term distribution deal with Playtech, granting GameCo access to Playtech’s network of online casino brands.

GameCo will have direct access to build igaming products on Playtech’s Gaming Platform as a Service (GPAS) system, as well as the ability to leverage Playtech’s advanced technology and distribution footprint.

The developer added that this arrangement will enable it to access a wide range of new markets across Europe, Latin America and North America.

Playtech chief executive Mor Weizer said: “GameCo’s entry into the regulated iGaming market is extraordinarily well timed, and we are delighted to be supporting its growth with our investment and our platform.”

SpringOwl chief executive Ader (pictured) added: “I have no doubt that this funding will open many doors for GameCo and its exceptional team, who are innovating at a rapid pace to bring a distinct change to the casino experience and attract the next generation of players.

“The scaling opportunities in this relatively untapped sector are extremely exciting, and SpringOwl is delighted to support the company’s mission to be the foremost player in key next-gen gambling categories – including arcade-style gambling and igaming.”

The funding round and Playtech distribution deal comes after GameCo last week also confirmed the appointment of Adam Rosenberg as its new chief executive.

Rosenberg will be join GameCo from Fortress Investment Group, where he has been responsible for investments made across the capital structure in the gaming and leisure sector globally as managing director and global head of gaming and leisure.

He has been a board observer on GameCo’s board of directors since 2018, when affiliates of Fortress first invested in GameCo.

Total revenue for the 12 months to December 31 amounted to $91.1m (£66.4m/€77.0m), up 64.4% from $55.4m in the previous year.

Gaming revenue reached $79.9m, which was 67.5% more than 2020 and slightly higher than GNOG’s initial forecasts published last month. Other revenue was also 45.5% up from $7.7m to $11.2m.

Last year marked a key period of change for GNOG, with 2020 being its first year of financial results since spinning off from the land-based Landry’s business.

GNOG in December completed its combination with special purpose acquisition company (SPAC) Landcadia Holdings II. Shares in the combined business began trading on the Nasdaq from December 30, 2020.

Read the full story on iGB North America.

Intralot said the amendment was designed to enhance resilience in the context of the novel coronavirus (Covid-19) pandemic, and its effects on the overall lottery market.

The organisations’ existing contract was signed in June 2019, and was intended to last for a period of 8 years.

Its subsidiary Intralot Maroc, which the supplier said has been a successful partner of MDJS since 2010, will continue to support the operator with the overall management and operation of its lottery, sports betting and other gaming activities.

In the past year, Intralot has extended several of its contracts globally while shortening others.

In July, the supplier extended its partnership with the Dutch lottery operator, Nederlandse Loterij, to provide it with a sports betting platform.

Its partnership with Australia’s Lotterywest, meanwhile, was extended to last until January 2026 earlier this year, in a deal which will see Intralot Australia continue to provide its products and services for the operation of the state lottery of Western Australia.

In February, the supplier agreed to sell its entire stake in South American subsidiary Intralot de Peru SA to private equity firm Nexus Group in Peru, for a cash consideration of $21m (£15.2m/€17.4m).

In November, Intralot announced that it expected earnings to be reduced by between €25m and €28m due to the impact of the Covid-19 pandemic.

A deal announced today saw Intralot continue its expansion into the US, as it announced the launch of a series of free-to-play games in partnership with game developer Incentive Games, through the Montana and Washington, DC lotteries.

The deal, which will see Incentive’s Margin Selector, Dream Team and Bracket games available for NBA and NFL contests, marks Incentive Games’ entrance into the US market. The first products have already launched for the NCAA’s 2021 Basketball Tournament.

Incentive says that Margin Selector already boasts tens of thousands of daily players, with over 70% of customers playing for consecutive weeks.

Read the full story on iGB North America.

This migration, first planned in 2020, will see the OpenSports product suite become available to GNOG customers within the state – including access to an iOS mobile app that puts all GNOG products in one place.

This is the second such partnership between the two businesses, following the launch of GNOG’s sportsbook in Michigan last month. Scientific Gaming will be hoping this kind of deal will result in an upturn in revenue, following a 2020 decline.

Read the full story on iGB North America.