Month: March 2022

The regulator handed each operator a fine of €25,000 (£20,826/$27,745) for publishing information about a poker tournament on their websites.

According to the Authority, each operator’s post about the ‘Fisherman’s Challenge’ event was aimed at drawing attention to the tournament, as well as persuading and inviting players to take part.

This, the regulator said, was considered to be in breach of the country’s 2021 marketing laws, specifically Article 10 (19) of Lithuania’s gambling regulations (ALĮ), and therefore warranted punishment.

The poker tournament was organised in partnership between Gambling Strategy Group and Olympic Casino Group Baltija, and both companies were pulled up on potential breaches of other laws.

These included Article 18 (1) of ALĮ and Article 201 (1) of ALĮ, which refer to the running of legal online gambling events with permission from the regulator, as the regulator said considered whether hosting the challenge itself was permitted. Gambling Strategy Group was cited on a potential breach of both articles, while Olympic Casino Group Baltija was referred for Article 18 (1) only.

However, Gambling Strategy Group was granted the right that between 4 July and 30 September last year, winners of smaller tournaments could take part in the main Fisherman’s Challenge event from 23 September to 3 October at one of its casino venues. Winners were registered for the event and agreed to the participation fee.

As a result, the Authority said the company was not at fault for breach of law and was found not guilty of breaching for Article 18 (1). Olympic Casino Group Baltija was also ruled not viable for the law breaches and faced no further charges. 

The regulator said none of the decision are final and could be subject to appeals.

In January, the Authority fined 7Bet operator Amber Gaming a combined total of €31,460 for a number of gaming violations. Some €18,755 was related to gambling advertising, while the remaining €12,705 was for conducting remote gambling agreements with foreign citizens.

Also in January, the Authority imposed a fine of €11,183 on Enlabs after the regulator said it encouraged customers to gamble – a violation of the country’s 2021 marketing laws – via a terms and conditions email.

This figure was above the upper boundary of the full-year guidance the provider issued after its disappointing Q3 results, through was still significantly lower than the initial outlook for 2021, which was between $1.53bn and $1.55bn.

Of this revenue total, $837.2m came in the form of the digital commerce side of the business, which combine the company’s digital wallets and eCash businesses. $610.7m came from US acquiring operations, which were previously included within the integrated processing segment.

However, expenses for the year amounted to $1.76bn, up from $1.42bn in 2020. Service costs were the largest expense at $599.8m, followed by general and adminsitrative costs of $545.1m.

Impairment expenses on intangible assets were $324.1m, depreciation and amortisation came to $261.4m, while restructuring and other expenses added costs of $25.9m.

Operating losses for the year totaled $269.2m. When factoring in other income amounting to $239.7m, $165.8m of interest expenses, and an income tax benefit of $85.1m, net losses for the year came to $110.3m – an increase compared to the $126.7m net losses sustained in 2020.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came to $443.9m, up 4.3% from 2020.

In terms of the fourth quarter of 2021, Paysafe recorded revenue of $371.6m. This was a 0.4% increase on the corresponding period in 2020 and in excess of the company’s revised guidance.

Digital commerce contributed $204.8m during the quarter – down 6.2% – while US acquiring added $166.8m.

Net profits for the quarter were $90.5m, compared to a $3.0m loss during the same period in 2020. Adjusted EBITDA for the quarter increased 10.6% to $105.5m when compared with Q4 2020.

McHugh said: “We are pleased with our fourth quarter results which exceeded our revised guidance for revenue and adjusted EBITDA. We saw continued strong performance from US Acquiring and the turnaround of our digital wallet business is well underway with the actions we’ve taken driving positive results, repositioning the business for success, and enabling us to absorb market risks in Europe.

“We continue to win and pursue competitive deals with some of the most disruptive companies in high growth verticals, such as North America igaming and crypto, and our teams remain extremely focused on delivering on our commitments, positioning Paysafe for strong future growth.”

Since the start of 2022, Paysafe has continued its expansion plans, branching out into Louisiana, Oregon and Latin America via its acquisition of SafetyPay.

Furthermore, Paysafe has appointed Daniel Henson as  as non-executive chairman of its board of directors, effective from 1 March 2022. He succeeds William P. Foley II in the role.

Henson, who has served as a director at the likes of Healthcare Trust of America and OnDeck Capital, will be tasked with overseeing Paysafe’s nomination and governance committee.

Henson said:  “This is an exciting time to be joining the Paysafe Board. The company benefits from unique specialized payments and ecommerce offerings which set it apart from other players in the industry and position it well for future growth. I look forward to leading the board at this momentous time.”

On the appointment, McHugh added: “On behalf of the entire Paysafe team, I’d like to thank Bill for the leadership and vision he has brought to Paysafe to date during his time as our chairman – it has been a real privilege to work with him.

“Since listing on the NYSE last year, we have made some exciting investments and have a lot of momentum behind us. Dan is an entrepreneurial and proven executive and will be a great asset to our board as we take Paysafe to its next level of growth.”

The technology supplier’s stand this year will be more than four times larger than in 2020 at around 600 square metres, adding a second level that will include meeting rooms and a VIP area.

“It is a great feeling to be heading back to ExCeL after a two-year absence,” Pronet Gaming chief commercial officer Bobby Longhurst said “We have made such huge strides in terms of growing our business since we were present at the last in-person show. It was a no-brainer to make sure we took out the extra space for 2022 so that we could create an on-stand experience that matches up to those achievements.

“We look forward to welcoming attendees to our stand and can promise that we will be hosting an area that contains a real buzz of activity.”

Clarion Gaming group managing director Alex Pratt said it was great to see brands such as Pronet enhance their commitment to ICE.

“ICE has a long track-record of being the place where the really influential brands in the gaming space meet and where the industry’s game-changing products and services are launched,” he said. “It’s fantastic to have progressive brands such as Pronet Gaming fully on board and contributing to the unique ICE London experience.”

“Having such a significant presence among the 450-strong community of ICE London exhibitors is indicative of the energy and enthusiasm that gaming professionals who will be travelling from throughout the world can expect at ExCeL London in April. ICE is a forward-looking event that’s underpinned by a blend of innovation and a ‘can do’ spirit.”

ICE London this year will take place from 12-14 April, having been pushed back due to concerns around the Omicron variant of Covid-19. Pratt said that while this has created challenges, momentum heading into the event suggests it should be a major success.

“The road back to in-person events was never going to be straightforward but we are experiencing strong registration numbers and some genuine momentum as April draws closer – all of which resonates with our ‘Together Never Felt So Good’ campaign theme,” added Pratt.

To register for the event, click here.

Earlier this week, the Gaming Industry for Ukraine initiative was launched, with the aim of raising £250,000 for people displaced by the war in Ukraine. All proceeds from the fundraiser will be donated to Choose Love’s Ukraine Crisis Fundraiser.

At the time of writing, the fundraiser has raised more than £60,000.

In addition, operators LeoVegas and ATG have both made large donations to the Red Cross. ATG has donated SEK2m to the charity, with chief corporate communications officer Patrik Brissman adding that the business was looking into ways to allow customers to contribute as well.

LeoVegas, meanwhile, donated SEK500,000. “The situation is clearly heartbreaking and saddening, and there is a strong urge from people across our offices to do whatever they can to help,” LeoVegas chief executive Gustaf Hagman said.

“This is why LeoVegas Group has decided to donate SEK500,000 to the Red Cross in support of their essential, lifesaving work in the region. The Red Cross is present on the ground – in the conflict zone and in neighbouring countries – with the top priority of saving lives.”

Meanwhile, with the UK government announcing sanctions against Russia and Belarus as a result of the invasion, ICE London organiser Clarion Gaming has announced that Russian and Belarusian businesses will not be permitted to participate at its events or via its digital channels.

“Given the current situation in Ukraine, we have taken the decision to suspend Russian and Belarusian state entities, companies, and their representatives from participating within Clarion Gaming’s events and digital products including the forthcoming 2022 edition of ICE and iGB Affiliate in London,” the business said.

“Our thoughts are with all those being affected by the ongoing conflict in Ukraine.”

As part of the gaming group’s “next evolution”, they will be proactively promoting responsible gaming with customers through a set of comprehensive tools both in casinos and online.

The announcement follows MGM’s continued activity with gambling awareness initiatives, having joined the American Gaming Association (AGA) as official partners of its campaign, Have A Game Plan- Bet Responsibly in September last year.

This announcement also comes as MGM and BetMGM join the National Council on Problem Gambling in promoting US Problem Gambling Awareness Month throughout March.

MGM Resorts’ slot machines will now feature QR codes that offer responsible gaming information and educational materials from GameSense.

GameSense was first developed by the British Columbia Lottery Corporation (BCLC) and focuses on positive and proactive conversations with players on how to gamble responsibly. As part of GameSense’s integrations with MGM, employees will receive responsible gaming training which will see more than 180 employees certified across the US MGM rewards desks.

Adam Greenblatt, BetMGM CEO, said: “Our industry is expanding at a rapid rate as more markets legalise sports betting, and we’re committed to growing the right way.

“It is important to empower and educate our customers, and the enhancements we’ve invested into GameSense within BetMGM provides the best information and guest services for players to bet responsibly.”

“As we enter our fifth year with GameSense, we remain focused on offering new and innovative resources to our guests, designed to increase responsible gaming awareness and to promote healthy play,” said MGM Resorts CEO and president, Bill Hornbuckle.

“GameSense remains an instrumental part of our guest service model and we’re confident that it has and will continue to make a difference.”

This will allow Bragg’s Bahamian partners to supply the supplier’s online casino titles throughout the country.

This is the latest market entry for Bragg, which debuted in the Netherlands and Greece, both of which launched new regulatory regimes recently, among other countries in 2021.

“The Bahamas represents a fantastic opportunity for us to leverage our strength in appealing to different player demographics and highlights our team’s overall flexibility and scope of content,” said Chris Looney, chief commercial officer at Bragg. “This latest licence award furthers our global growth strategy and for a market that is one of several that we expect to go live in over the balance of this year.”

“We’re looking forward to getting started with our soon to be announced Bahamian partners.”

In February Bragg reported a year-on-year revenue increase of 25% in its full year 2021 results.

PressBox Live will incorporate American football in time for the 2022-23 National Football League (NFL) and National Collegiate Athletic Association (NCAA) competitions.

The PressBox Live dashboard, powered by data and AI, provides real time insights and statistics for customers, and it will call upon NFL and NCAA data which streches back to 1920. Streams also highlight key betting insights which run alongside play-by-play coverage in an attempt to cater to betting fans across the US.

Nancy Hensley, Stats Perform’s chief product and marketing officer, said: “One of the biggest challenges for any broadcaster is quickly uncovering unique and interesting stats amidst the dynamic changes of the game. That is what keeps the fans engaged, the sponsors interested and viewership growing.

“We designed PressBox Live to provide real-time data driven insights, at scale and speed during a game. It’s like having several personal assistants to uncover interesting stat-driven stories behind the action on the field. And the best part is, when you need a deeper dive, our world class team of sports experts is only a click away in the app. PressBox Live is a game changer for any broadcaster looking to differentiate their storytelling.”

PressBox Live added football to its offering in May 2021.

“Despite some fundamental differences, European and American football are quite similar in that both sports are uniquely driven by their exceptionally passionate fanbases,” added Steve Hirdt, senior director of operations and research at Stats Perform. “In less than one year, PressBox Live for Soccer revolutionized European football coverage, delivering an enhanced experience that benefits sports organizations, broadcasters, and fans alike, which is why I’m so thrilled about Stats Perform’s decision to extend PressBox Live to the NFL and NCAA. I look forward to seeing how this success will be replicated for American football.”

Stats Perform recently signed data deals with the Thailand Football Association, Australia’s A League, and the Women’s Super League.

The certification will allow Aspire to launch through already-agreed partnerships with operators in the country.

Last year Aspire’s Pariplay platform signed a deal with Holland Casino, one of ten operators to receive a licence from Dutch regulator de Kansspelautoriteit. Under the deal, Pariplay would supply its proprietary games to Holland Casino.

In January Aspire agreed to a deal that will see it make BoyleSports, Ireland’s largest independent bookmaker, live in the Netherlands.

The deal, which will take effect upon Aspire’s entry into the Netherlands, will mean Aspire will provide its full turnkey solutions to BoyleSports through Aspire’s sportsbook Btobet.

“The newly regulated Dutch market is growing quickly and one of Europe’s most appealing igaming markets,” said Tsachi Maimon, CEO of Aspire Global. “We expect the igaming market in the Netherlands to grow to ultimately become one of the biggest in Europe and are excited by the opportunities we see.”

“Now, when our complete B2B offering is certified, we are ready to play a major role in shaping the Dutch market and to enhance the player experience also in the Dutch market.”

In January NeoGames submitted a bid of SEK4.3bn to acquire Aspire.

Following the publishing of the offer document detailing the proposals, which is expected in April, an acceptance period will run until 3 May. If accepted, the deal is expected to be completed during the first half of 2022.

Looking at each of IGT’s three business segments, the global lottery division brought in $2.81bn, which was 30.2% more than last year.

Almost all of this lottery revenue came from services, including $2.36bn in net revenue from operating and facilities management contracts, plus a further $327m in revenue from other services.

The global gaming segment, dealing with land-based gaming, brought in a further $1.11bn, up 33.3% from the year prior. Services made up $630m of this total, with most service revenue coming from terminals, while product sales brought in $482m.

Finally, the digital and betting segment $165m, up 43.8%, with all but $1m from services.

This meant that in total, IGT made $3.48bn from services, up 31.9%, and $606m from product sales, up 27.3%.

More than half of IGT’s revenue came from the US and Canada, which brought in $2.25bn. A further $1.30bn came from Italy and $539m from the rest of the world.

Despite the higher revenue, IGT’s operating costs declined in 2021, by 1.2% to $3.19bn. This was mostly due to a $296m goodwill impairment expense in 2020 related to the impact of Covid-19 on the business.

Breaking these operating costs down, the business paid $1.75bn in costs of services, up 7.3%, and $377m in costs of product sales, a 9.1% increase. In addition, it paid $810m in selling, general and administrative costs, which was a 14.2% increase, and $238m on research and development, which was 24.6% more than the year prior.

As a result of these costs, IGT made a $902m operating profit in 2021, after a $107m operating loss in 2020.

The supplier paid $341m in interest expenses and $98m in other expenses, but received a $66m gain from foreign currency exchange rate changes, after a $309m loss the year before.

This meant that IGT made a pre-tax profit of $529m, after having lost $848m before taxes in 2020.

After paying $274m in income taxes, it was left with a profit of $255m from continuing operations, compared to a loss of $875m the year prior.

During the year, the business also sold its Italian B2C business Lottomatica to Apollo Global for a total consideration of €950m. This discontinued business brought in a further $24m, down 34.5%, before the sale closed in May, while IGT received $391m from the sale during the year.

Taking this into account, IGT’s final income was $670m, after recording an $839m loss in 2020.

“Our 2021 financial results reflect the best revenue, profit, and cash flow performance in the last four years, meeting or exceeding target levels on strong performance across the portfolio,” said Vince Sadusky, who was appointed as chief executive of IGT soon after the year ended. “We made important progress on several strategic objectives, and I am excited to be leading IGT in the next chapter of its evolution. 

“We have set aggressive but achievable multi-year goals and we have a focused strategy to maximize value for all stakeholders.”

“As we enter 2022, the Company is in a very good place with a solid financial condition and a strong foundation for further growth,” Max Chiara, chief financial officer of IGT, said.

Thanks in part to the extra income it received in 2022, the business cut its net debt to $1.4bn. This meant that the business’ leverage decreased to 3.5x, the lowest in the supplier’s history.

During the fourth quarter, IGT’s revenue came to $1.05bn, up 18.6%.

Breaking the supplier’s Q4 revenue down by segment, IGT’s global lottery business was responsible for most of its revenue, bringing in $687m, up 9.0%.

Its global gaming business experienced faster growth in revenue, with this total rising 44.6% to $321m.

Digital and betting revenue, meanwhile, was up 25.2% to $42m.

After operating expenses of $864m, its operating income was $186m, just short of double Q4 of 2020’s total.

Including non-operating expenses and discontinued operations, the business made a net profit of $55m, compared to a $232m net loss the year before.

Earlier this week, the business announced that it would also sell its Italian proximity payments business Lispay to PostePay – Patrimonio Destinato for €700.0m (£523.9m/€627.2m).

The latest boost for the show comes as part of feedback from board members and officials at the European Casino Association (ECA), where it was also revealed that a number of senior executives and decision makers will be attending ICE London.

Laurent Lassiaz, CEO of casino company JOA Group, spoke of how ICE London combines different aspects of the industry with an emphasis on technology.

“ICE has always presented an opportunity to expand our knowledge and find the best solutions to both near and long-term challenges,” said Lassiaz. “ICE is the blender for both ‘hardware’ and ‘software’ solutions, whether that’s new techniques, new types of equipment, unpublished data, or insights from thought-leaders.”

“While the event may be diminished from a hardware perspective, I am looking forward to enlightening ‘software’ exchanges and to finding new inspirations.”

Tiina Siltanen, general manager at Casino Helsinki and Casino Tampere acknowledged ICE London’s networking opportunities, adding that the event will be different this year due to the impact of the Covid-19 pandemic.

“I visit ICE to meet with like-minded people, industry peers, and the good-and-the-great of the casino industry,” said Siltanen. “I look forward to the discussions, the sharing of views with individuals from wide-ranging backgrounds, and being introduced to those new to our industry.”

“ICE will undoubtedly be different this year, but I do not want to miss out on this vital exchange. As we emerge from the pandemic, we must build a better, more resilient casino industry for the future.”

Clarion Gaming managing director Stuart Hunter stated that although ICE London will be impacted by the pandemic, it will continue to host a number of major events and exhibitors for attendees.

“While the at-show experience will be slightly different from that of 2020, ICE London 2022 remains the largest and most influential exhibition in world gaming and will feature some 450 exhibitors,” he said. “Visitors will have access to a range of initiatives and features including Pitch ICE, the International Casino Conference, World Regulatory Briefing, the ICE VOX conference programme, Consumer Protection Zone, our brand-new Hosted Meetings Programme as well as the most comprehensive demonstration and analysis of the Esports phenomenon, all of which contribute to the overall ICE London experience.”

“It’s been too long since the industry has been able to meet face-to-face and we are looking forward to bringing everyone together to celebrate the return of the international business in a safe and a secure environment.”

Event organiser Clarion Gaming announced that ICE London would take place from 12-14 April earlier this month at the ExCeL London, after postponing the event from its traditional February dates due to the Omicron variant of Covid-19.

To register for the event, click here.