Gambling News’ Post

Bragg Gaming Group, a global provider of iGaming tech, has published its Q4 and FY 2023 results, reporting very favorable figures. The company subsequently updated its growth targets for 2024. In Q4 2023, revenue decreased by 1.4% to $25.2 million, reflecting the revised commercial terms with a key strategic partner. Betting handle, on the other hand, reached a whopping $6.6 billion, marking a significant increase. Quarterly adjusted EBITDA declined by 23.7% to $3 million. In the meantime, adjusted EBITDA margins decreased by 350bps to 11.9%, a change attributed to a decline in the gross profit offset by an improvement in cost optimization. Gross profit decreased by 7.3% to $12.9 million, while operational loss decreased from $0.6 million in Q4 2022 to $0.4 million in Q4 2023. Read the full article ➡ https://lnkd.in/dyP_GNKG #global #finance #gambling #gamblingnews #business

On May 15, 2023, Aristocrat Leisure Limited, an Australian gambling machine manufacturer, announced its intention to acquire Neo Group in a historic deal. Almost a year later, the latter group, formerly known as NeoGames SA, announced that the transaction had been completed. The announcement comes a week after Aristocrat successfully navigated through the regulatory labyrinth, receiving final approvals for its proposed merger with NeoGames. For reference, the arrangement was greenlit by the Nevada Gaming Commission and two other regulatory bodies. According to the confirmation, Aristocrat acquired the technology-driven provider of end-to-end iLottery and iGaming solutions by acquiring all of its outstanding shares for $29.50 per share. The total value of this all-cash transaction is approximately $1.2 billion. Read the full article ➡ https://lnkd.in/dnaqva-e #mergersandacquisitions #business #gambling #gamblingnews #global #finance

Adventure Box Technologies AB (publ) Announces Strategic Acquisition of Lion Gaming Group Inc for SEK475 Million (USD 45 million) Paving the Way for Significant Expansion and Synergies in the iGaming Market Adventure Box Technologies AB (“Adventure Box”) has entered into a Letter of Intent (“LOI”) with Lion Gaming Group Inc. (“Lion”), a Canadian company specializing in gaming and betting services. Lion has a projected turnover of approximately SEK 350 million (USD 33 million) and an EBITDA of approximately SEK 180 million (USD 17 million) in 2024. This transaction marks the beginning of a significant expansion for Adventure Box in the iGaming market. A major new gaming company is emerging in Sweden, poised to make a substantial impact on the global iGaming market. This strategic move is set to create a robust and diversified portfolio, further strengthening Adventure Box’s position. It represents a significant step towards establishing Adventure Box as a leading player on the international stage. The letter of intent involves the acquisition of 100% of the shares in Lion Gaming Group Inc. for a purchase price of approximately SEK 475 million (USD 45 million), which will be paid with newly issued shares in Adventure Box at a share price of SEK 0.40 per share. The target is to finalize the acquisition in the second half of 2024.

Our Chief Commercial Officer, Pierre Mifsud, shares his expert insights on navigating the challenges and opportunities in the iGaming industry as a start-up. Featured on European Gaming Media, this piece explores how to steer your business towards growth in this dynamic landscape 📈 #iGaming #VentureMax

Global betting and gaming powerhouse Entain has published its FY 2023 report, highlighting favorable results across the board despite the recent decline in share price. As reported by the company, its total group net gaming revenue increased by 14% to £4.83 billion. Entain emphasized that 100% of its revenue came from regulated or regulating markets. Thanks to a record-breaking level of online active customers (+23% year-on-year), the company achieved a gross profit of £2.9 billion. EBITDA, on the other hand, increased by a single percent to £1 billion. Barry Gibson, Entain’s chairman, described 2023 as a period of “necessary, but ultimately positive, transition for Entain.” He teased that the company is making progress in its search for a new CEO and praised Stella David’s work as interim CEO. Read the full article ➡ https://lnkd.in/d9sa5CB3 #business #finance #gambling #gamblingnews #global #financialresults

Good morning. In this month's Deal Talk: 🎰 The US-based and VC-owned lottery reseller Jackpocket is the subject of strong buyout rumors.  💰 Sources suggest a price tag of $750m is being attached, but as yet no positively identified buyer.  🎯 Speaking of prospective M&A, this edition of Deal Talk runs through a hit list of potential M&A targets for 2024.  🌍 Emerging regional plays could make a lot of sense in the year ahead with Brazil and Africa the subject of a lot of corporate interest. 🏢 Lastly, in B&M gaming, M&A was the subject of questions asked during Boyd Gaming’s recent earnings call even as the company emphasized it wasn’t much taken with the sale-and-leaseback REIT model. 🔔 Plus, breaking earnings news from Catena Media as revenues tumble. ➕ +More Today's newsletter was brought to you by Kambi, InclineBet and BettingJobs. #standwithukraine #betting #gaming #M&A 👇👇👇

🎲🃏 As Alberta’s gaming landscape evolves, the province is seeking input from stakeholders and Indigenous communities to help shape its future iGaming strategy. 💭 What insights can we gather from iGaming examples across the country? And how can Alberta’s online gaming strategy promote economic reconciliation and new business opportunities? Dive into the details now 👉 https://gowlg.co/3LfhrJO Authors: Cam Cameron and Joshua Shoemaker #iGaming #GamingIndustry #IndigenousLaw

Bragg Gaming Group First Quarter Revenue Rises 4.2% Year Over Year to €23.8 Million; Gross Profit Declines 2.8% to €11.9 Million: Adjusted EBITDA Drops 12.4% to €3.4 Million Bragg Chief Executive Officer Matevz Mazij commented: "We carried our strong momentum in 2023 into the first quarter, delivering robust growth that underscores the ongoing success of our efforts to transform Bragg into a content-focused iGaming solutions provider across expanding North American and European markets. Year-over-year revenue increased by 4.2% to EUR 23.8 million, largely propelled by organic growth from our current client base, the addition of new customers in multiple jurisdictions, and impressive results from our in-house Wild Streak Gaming casino games studio.” Listen to Matevž Mazij discuss today's results with Bragg Chief Financial Officer Ronen Kannor and Chief Strategy Officer Yaniv Spielberg on our earnings call and webcast at 8.30am ET (open the full press release for dial-in / online access details) Matevz Mazij - Peter Lavric - Ronen Kannor - Neill Whyte - Doug Fallon - Giles Potter - Kunal Mishra - Matej Nemec - Richard Mercado - Scott Sowden

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A really interesting merger was just announced between US Integrity, Inc. and Odds On Compliance to create a new powerhouse in betting and gaming regtech, IC360. There’s been a lot of bad press in the broader sports world around betting integrity and compliance, particularly when professional athletes come into the fold. Jontay Porter was dealt a lifetime ban from the National Basketball Association (NBA) for betting on himself and his team. Shohei Ohtani is in hot water via his relationship with a translator who amassed millions of dollars of losses with Shohei’s stolen money. While these stories reach the masses because of national media attention, betting integrity and compliance is critical for the industry to ensure responsible gaming practices and protect everyone from the casual better to professional gamblers and everyone in between. Looking forward to seeing how these two companies evolve together and lift up the sports betting and gaming industries. #sportstech #sportsbusiness #regtech #betting #gaming #compliance https://lnkd.in/gd754BCi