Latest News
Newgioco Announces Q1 2020 Financial Results
Newgioco Group has announced its operating and financial results for Q1 2020. The Company reported a strong quarter, in spite of global economic difficulties and shutdowns caused by COVID-19.
Newgioco reported a year over year increase in revenue from $9.3 million to $10.2 million generated from $116 million in turnover (betting handle) during Q1 2020 which represents an increase in revenue of 9.8% over Q1 2019. The growth in revenue may be attributed to the ongoing conversion to online and mobile gaming from the traditional land-based venues and the market adoption of Newgioco’s proprietary sports book solution.
“As a newly NASDAQ listed company during a global pandemic, I am proud of the Newgioco team. They have raised the bar not only from a product standpoint, but the financial team has demonstrated remarkable flexibility and elevated internal standards in terms of analytics and reporting procedures to provide more transparency and quite frankly better reporting metrics for our investors,” Mark Korb, CFO of Newgioco Group, said.
The Company saw a decrease of 11.8% in general and administrative expenses from $3.2 million to $2.8 million and a decrease in selling expenses of 16.1% from $7.4 million to $6.2 million for the year over year comparable quarters as result of a disciplined approach to reducing costs and trade show participation.
“Essentially this quarter reflects our commitment to return Newgioco operations to profitability after we made strategic changes to our board and executive management in June 2019. These necessary changes were the early building blocks for the execution of our U.S. go-to-market plans. Our Elys betting software is performing as effectively as it was designed for, and this has translated not only to substantial improvement in business metrics but also into acquisition and retention of new customers,” Michele (Mike) Ciavarella, CEO of Newgioco Group, said.
“Newgioco has one of the most modern and innovative sports betting value propositions in the market and we are now preparing to obtain GLI certification of our U.S. facing products. Our state-of-the-art technology stack is driving the innovation of managing risk on sports books and we expect to launch this unique alternative wagering system to U.S. operators in 2020. Newgioco has designed a user centric multi-channel solution that has the flexibility to serve throughout the U.S. from destination casino operators to franchise distribution networks such as sports bar and restaurant venues or convenience stores, kiosks and coffee shops,” he added.
eSports
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
- CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
- College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025
Gambling in the USA
Clark County residents can bring a friend for free to next week’s Super Bingo $160,000 tournament at the Plaza Hotel & Casino, May 6-8
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino is offering Clark County, Nevada residents who register to play in next week’s Super Bingo tournament the opportunity to bring a friend for free.
Happening Monday, May 6 through Wednesday, May 8 in the Plaza’s expansive ballroom, Super Bingo is expected to draw nearly 1,000 people from the local Las Vegas valley and across the country and Canada for the opportunity to win big playing fun-filled games of bingo over two days, with a $50,000 super coverall both days while socializing with like-minded bingo players.
Bingo-only registration is $160 per person, and Clark County residents who register can bring a friend for free. Registration is available online at https://www.plazahotelcasino.com/bingo/super-bingo-registration/. Hotel-and-bingo packages start at $300 for a four-night stay with no resort fee.
All Super Bingo players receive one 6-on paper pack for both days, two daubers, free drinks via an open bar at all sessions, boxed lunch both days, and $10 in free slot play after the first day’s session.
The Plaza’s Bingo room offers six daily bingo sessions at 11 a.m., 1 p.m., 3 p.m., 5 p.m., 7 p.m. and 9 p.m. and is located on the 3rd floor. By parking on the third floor of the Plaza’s self-parking garage, guests have convenient and direct access to the Plaza’s bingo room and parking is validated for bingo players.
Gambling in the USA
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.
The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.
The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.
Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.
“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”
Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”
-
Interviews4 days ago
Women in iGaming Interview: White Hat Studios’ Holly Fairweather
-
Latest News4 days ago
White Hat Gaming strengthens executive team with Justin Psaila announced as new Chief Financial Officer
-
Compliance Updates2 days ago
OpenBet bolsters compliance technologies with the launch of geolocation product, OpenBet Locator™, powered by Amazon Web Services (AWS)
-
Compliance Updates4 days ago
Reputation matters – the importance of supplier licensing
-
Gambling in the USA2 days ago
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
-
Compliance Updates4 days ago
North Carolina Lawmaker to Introduce Bill to End College Player Prop Bets
-
Latin America4 days ago
Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas
-
Latest News4 days ago
Bruce Smith Enterprise and The Cordish Companies Unanimously Selected by City of Petersburg to Codevelop $1.4 Billion Transformative Mixed-use Development in Petersburg, Virginia