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Century Casinos, Inc. Announces Fourth Quarter and Full Year 2019 Results

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Century Casinos' Partner bet365 Launches Internet Sports Betting in Colorado

 

Century Casinos, Inc.  announced its financial results for the three months and year ended December 31, 2019.

Fourth Quarter 2019 Highlights*

  • Net operating revenue was $67.2 million, an increase of 49% from the three months ended December 31, 2018.
  • Loss from operations was ($14.7) million, a decrease of 846% from the three months ended December 31, 2018.
  • Net loss attributable to Century Casinos, Inc. shareholders was ($20.1) million, a decrease of 4080% from the three months ended December 31, 2018.
  • Adjusted EBITDA** was $9.8 million, an increase of 69% from the three months ended December 31, 2018.
  • Loss per share was ($0.68).

2019 Highlights*

  • Net operating revenue was $218.2 million, an increase of 29% from the year ended December 31, 2018.
  • Loss from operations was ($5.2) million, a decrease of 155% from the year ended December 31, 2018.
  • Net loss attributable to Century Casinos, Inc. shareholders was ($19.2) million, a decrease of 664% from the year ended December 31, 2018.
  • Adjusted EBITDA** was $30.3 million, an increase of 30% from the year ended December 31, 2018.
  • Basic loss per share was ($0.65), a decrease of 642% from the year ended December 31, 2018.
  • Diluted loss per share was ($0.65), a decrease of 691% from the year ended December 31, 2018.
  • Book value per share*** at December 31, 2019 was $5.54.

In December 2019, the Company determined that the intangible and tangible assets at Century Casino Bath were impaired. The impairment, which totaled $16.5 million, was determined after evaluating losses incurred by the casino since operations began and future forecasts of continued losses due to the current regulatory environment for casinos in England.

On December 6, 2019, the Company completed its acquisition (the “Acquisition”) of the operations of Isle Casino Cape Girardeau, located in Cape Girardeau, Missouri, Lady Luck Caruthersville, located in Caruthersville, Missouri, and Mountaineer Casino, Racetrack and Resort located in New Cumberland, West Virginia (collectively, the “Acquired Casinos”), from Eldorado Resorts, Inc. for an aggregate purchase price of approximately $110.6 million. Immediately prior to the Acquisition, the real estate assets underlying the Acquired Casinos were sold to an affiliate of VICI Properties Inc. (“VICI PropCo”). On the closing date, the Company and VICI PropCo entered into a triple net lease agreement (the “Master Lease”) for the three Acquired Casino properties. The Master Lease has an initial annual rent of approximately $25.0 million and an initial term of 15 years, with four five-year renewal options.

The consolidated results for the three months and year ended December 31, 2019 and 2018 are as follows:

For the three months

For the year

Amounts in thousands, except per share data

ended December 31,

ended December 31,

Consolidated Results:

2019

2018

% Change

2019

2018

% Change

Net Operating Revenue

$

67,236

$

45,106

49%

$

218,227

$

168,938

29%

(Loss) Earnings from Operations

(14,745)

1,976

(846%)

(5,220)

9,459

(155%)

Net (Loss) Earnings Attributable to Century Casinos, Inc. Shareholders

$

(20,140)

$

506

(4080%)

$

(19,155)

$

3,394

(664%)

Adjusted EBITDA**

$

9,776

$

5,801

69%

$

30,281

$

23,377

30%

(Loss) Earnings Per Share Attributable to Century Casinos, Inc. Shareholders:

Basic

$

(0.68)

$

0.02

(3500%)

$

(0.65)

$

0.12

(642%)

Diluted

$

(0.68)

$

0.02

(3500%)

$

(0.65)

$

0.11

(691%)

“We are pleased with the fourth quarter results and the immediate impact the addition of the three casinos acquired from Eldorado Resorts had on our operating results,” Erwin Haitzmann and Peter Hoetzinger, Co-Chief Executive Officers of Century Casinos remarked. “The acquired casinos have had very encouraging initial results, and we are excited to continue integrating the operations into the Century brand and to see anticipated meaningful growth from this acquisition on Century Casinos in the future,” Messrs. Haitzmann and Hoetzinger concluded.

The Company is carefully monitoring the situation caused by the coronavirus (COVID-19) pandemic. Although the entire situation is unpredictable, our management teams are prepared to control what they can control. Our casinos are following and implementing the recommendations from the US Centers for Disease Control and Prevention, which include everyday preventative actions to help prevent the spread of respiratory viruses, such as washing your hands often with soap and water, avoiding touching your eyes, nose, and mouth with unwashed hands, covering your cough or sneeze with a tissue, cleaning and disinfecting frequently touched objects and surfaces and of course staying home when you are sick. We are also putting an extra effort into straight-forward and realistic guest messaging and have stepped-up employee trainings to ensure strict compliance with our policies and procedures. We are in constant communication with our employees to reinforce our sanitation safety procedures in both guest-facing and back-of-house areas. We are sanitizing high-traffic public areas at an increased frequency. Proper procedures are posted in all back-of-house work areas.

To date, COVID-19 has not had a significant impact on our US or Canadian markets, while the market in Poland has been weakening by approximately ten percent. Our customer base is very diversified within North America. Our casinos are ‘local’ casinos in urban and suburban locations, with the vast majority of our business from customers who live within an hour from our facilities. Our casinos have negligible meeting and convention business and few of our customers travel by air to visit us. This may temper the impact of COVID-19 on our business, but this situation continues to evolve and could adversely impact us until the virus runs its course.

Reportable Segment Results*
The table below shows the Company’s operating segments that are included in each of the Company’s reportable segments as of December 31, 2019:

Reportable Segment

Operating Segment

Reporting Unit

United States

Colorado

Century Casino & Hotel – Central City

Century Casino & Hotel – Cripple Creek

West Virginia

Mountaineer Casino, Racetrack & Resort

Missouri

Century Casino Cape Girardeau

Century Casino Caruthersville

Canada

Edmonton

Century Casino & Hotel – Edmonton

Century Casino St. Albert

Century Mile Racetrack and Casino

Calgary

Century Casino Calgary

Century Downs Racetrack and Casino

Century Bets! Inc.

Poland

Poland

Casinos Poland

Corporate and Other

Corporate and Other

Cruise Ships & Other

Century Casino Bath

Corporate Other

The Company’s net operating revenue increased by $22.1 million, or 49%, and by $49.3 million, or 29%, for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018. Following is a summary of the changes in net operating revenue by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Net Operating Revenue

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

23,926

$

7,938

$

15,988

201%

$

49,998

$

33,483

$

16,515

49%

Canada

20,291

15,678

4,613

29%

80,650

61,361

19,289

31%

Poland

21,675

19,514

2,161

11%

81,894

68,209

13,685

20%

Corporate and Other

1,344

1,976

(632)

(32%)

5,685

5,885

(200)

(3%)

Consolidated

$

67,236

$

45,106

$

22,130

49%

$

218,227

$

168,938

$

49,289

29%

The Company’s earnings from operations decreased by ($16.7) million, or (846%), and by ($14.7) million, or (155%), for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018.  Following is a summary of the changes in earnings (loss) from operations by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Earnings (Loss) from Operations

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

4,685

$

1,033

$

3,652

354%

$

9,478

$

5,882

$

3,596

61%

Canada

4,000

3,675

325

9%

16,115

14,633

1,482

10%

Poland

1,627

460

1,167

254%

5,915

145

5,770

3979%

Corporate and Other

(25,057)

(3,192)

(21,865)

(685%)

(36,728)

(11,201)

(25,527)

(228%)

Consolidated

$

(14,745)

$

1,976

$

(16,721)

(846%)

$

(5,220)

$

9,459

$

(14,679)

(155%)

Net earnings attributable to Century Casinos, Inc. shareholders decreased by ($20.6) million, or (4080%), and by ($22.5) million, or (664%), for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018. Following is a summary of the changes in net earnings (loss) attributable to Century Casinos, Inc. shareholders by reportable segment for the three months and year ended December 31, 2019, compared to the three months and year ended December 31, 2018:

Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

2,261

$

767

$

1,494

195%

$

5,825

$

4,373

$

1,452

33%

Canada

948

2,077

(1,129)

(54%)

6,669

7,715

(1,046)

(14%)

Poland

1,352

179

1,173

655%

3,466

(153)

3,619

2365%

Corporate and Other

(24,701)

(2,517)

(22,184)

(881%)

(35,115)

(8,541)

(26,574)

(311%)

Consolidated

$

(20,140)

$

506

$

(20,646)

(4080%)

$

(19,155)

$

3,394

$

(22,549)

(664%)

Items deducted from or added to earnings from operations to arrive at net earnings (loss) attributable to Century Casinos, Inc. shareholders include interest income, interest expense, gains (losses) on foreign currency transactions and other, income tax expense and non-controlling interests.

The Company’s Adjusted EBITDA** increased by $4.0 million, or 69%, and by $6.9 million, or 30%, for the three months and year ended December 31, 2019 compared to the three months and year ended December 31, 2018. Following is a summary of the changes in Adjusted EBITDA** by reportable segment for the three months and year ended December 31, 2019 compared to the three months and year ended December 31, 2018:

Adjusted EBITDA**

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

$ Change

% Change

2019

2018

$ Change

% Change

United States

$

5,441

$

1,582

$

3,859

244%

$

11,825

$

8,061

$

3,764

47%

Canada

5,378

4,991

387

8%

21,212

19,522

1,690

9%

Poland

2,484

1,733

751

43%

9,392

4,890

4,502

92%

Corporate and Other

(3,527)

(2,505)

(1,022)

(41%)

(12,148)

(9,096)

(3,052)

(34%)

Consolidated

$

9,776

$

5,801

$

3,975

69%

$

30,281

$

23,377

$

6,904

30%

Balance Sheet and Liquidity
As of December 31, 2019, the Company had $54.8 million in cash and cash equivalents and $179.0 million in outstanding debt on its balance sheet compared to $45.6 million in cash and cash equivalents and $59.5 million in outstanding debt at December 31, 2018. The outstanding debt as of December 31, 2019 included the following: $170.0 million related to the Company’s credit agreement with a group of lenders led by Macquarie Capital that the Company entered into in December 2019 in connection with the Acquisition, replacing the Company’s credit agreement with the Bank of Montreal$2.0 million of bank debt related to Casinos Poland; $2.0 million of bank debt related to Century Casino Bath; and $15.0 million related to a long-term land lease for CDR, net of $10.0 million in deferred financing costs.

Conference Call Information
Today the Company will post a copy of its Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2019 on its website at www.cnty.com/investor/financials/sec-filings. The Company will also post a presentation on the year end results on its website at www.cnty.com/investor/presentations.

The Company will host its fourth quarter 2019 earnings conference call today, Friday, March 13th, at 8:00 am MDT. U.S. domestic participants should dial 1-844-244-9160. For all international participants, please use 330-931-4670 to dial-in. Participants may listen to the call live at www.centurycasinos.adobeconnect.com/earningsrelease or obtain a recording of the call on the Company’s website until March 31, 2020 at www.cnty.com/investor/financials/sec-filings.

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Statements of (Loss) Earnings

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands, except for per share information

2019

2018

2019

2018

Operating revenue:

Net operating revenue

$

67,236

$

45,106

$

218,227

$

168,938

Operating costs and expenses:

Total operating costs and expenses

81,981

43,152

223,446

159,502

Earnings (loss) from equity investment

22

(1)

23

(Loss) earnings from operations

(14,745)

1,976

(5,220)

9,459

Non-operating income (expense), net

(3,569)

(1,053)

(6,747)

(3,536)

(Loss) earnings before income taxes

(18,314)

923

(11,967)

5,923

Income tax provision

(955)

(133)

(4,174)

(1,917)

Net (loss) earnings

(19,269)

790

(16,141)

4,006

Net earnings attributable to non-controlling interests

(871)

(284)

(3,014)

(612)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders

$

(20,140)

$

506

$

(19,155)

$

3,394

(Loss) earnings per share attributable to Century Casinos, Inc. shareholders:

  Basic

$

(0.68)

$

0.02

$

(0.65)

$

0.10

  Diluted

$

(0.68)

$

0.02

$

(0.65)

$

0.10

Weighted average common shares

  Basic

29,474

29,439

29,452

29,401

  Diluted

29,474

29,861

29,452

29,962

CENTURY CASINOS, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION – US GAAP BASIS

Condensed Consolidated Balance Sheets

December 31,

December 31,

Amounts in thousands

2019

2018

Assets

Current assets

$

79,366

$

54,974

Property and equipment, net

503,933

187,017

Other assets

143,601

36,834

Total assets

$

726,900

$

278,825

Liabilities and Equity

Current liabilities

$

56,570

$

50,020

Non-current liabilities

498,255

45,422

Century Casinos, Inc. shareholders’ equity

163,306

176,321

Non-controlling interests

8,769

7,062

Total liabilities and equity

$

726,900

$

278,825

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Constant Currency* Results (unaudited)

For the three months

For the year

ended December 31,

ended December 31,

Amounts in thousands

2019

2018

% Change

2019

2018

% Change

Net operating revenue as reported (GAAP)

$

67,236

$

45,106

49%

$

218,227

$

168,938

29%

Foreign currency impact vs. 2018

559

7,207

Net operating revenue constant currency (non-GAAP)*

$

67,795

$

45,106

50%

$

225,434

$

168,938

33%

(Loss) earnings from operations (GAAP)

$

(14,745)

$

1,976

(846%)

$

(5,220)

$

9,459

(155%)

Foreign currency impact vs. 2018

934

955

(Loss) earnings from operations constant currency (non-GAAP)*

$

(13,811)

$

1,976

(799%)

$

(4,265)

$

9,459

(145%)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders as reported (GAAP)

$

(20,140)

$

506

(4080%)

$

(19,155)

$

3,394

(664%)

Foreign currency impact vs. 2018

339

(40)

Net (loss) earnings attributable to Century Casinos, Inc. shareholders constant currency (non-GAAP)*

$

(19,801)

$

506

(4013%)

$

(19,195)

$

3,394

(666%)

Gains and losses on foreign currency transactions are added back to net (loss) earnings in the Company’s Adjusted EBITDA** calculations. As such, there is no foreign currency impact to Adjusted EBITDA** when calculating Constant Currency* results.

Adjusted EBITDA Margins *** (unaudited)

For the three months

For the year

ended December 31,

ended December 31,

2019

2018

2019

2018

United States

23%

20%

24%

24%

Canada

27%

32%

26%

32%

Poland

11%

9%

11%

7%

Corporate and Other

(262%)

(127%)

(214%)

(155%)

Consolidated Adjusted EBITDA Margin

15%

13%

14%

14%

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.

For the three months ended December 31, 2019

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

2,261

$

948

$

1,352

$

(24,701)

$

(20,140)

Interest expense (income), net

1,635

1,456

55

1,020

4,166

Income taxes (benefit)

789

1,375

222

(1,431)

955

Depreciation and amortization

756

1,356

781

254

3,147

Net earnings attributable to non-controlling interests

195

676

871

Non-cash stock-based compensation

324

324

Loss (gain) on foreign currency transactions, cost recovery income and other

26

(678)

16,704

16,052

Loss on disposition of fixed assets

22

76

1

99

Acquisition costs

4,302

4,302

Adjusted EBITDA

$

5,441

$

5,378

$

2,484

$

(3,527)

$

9,776

For the three months ended December 31, 2018

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

767

$

2,077

$

179

$

(2,517)

$

506

Interest expense (income), net

1,084

50

65

1,199

Income taxes (benefit)

266

435

280

(848)

133

Depreciation and amortization

548

779

1,025

402

2,754

Net earnings attributable to non-controlling interests

174

89

21

284

Non-cash stock-based compensation

255

255

(Gain) loss on foreign currency transactions and cost recovery income

(95)

(138)

94

(139)

Loss on disposition of fixed assets

1

4

27

23

55

Pre-opening expenses

533

221

754

Adjusted EBITDA

$

1,582

$

4,991

$

1,733

$

(2,505)

$

5,801

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION

Reconciliation of Adjusted EBITDA ** to Net Earnings (Loss) Attributable to Century Casinos, Inc. Shareholders by Reportable Segment.

For the Year ended December 31, 2019

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

5,825

$

6,669

$

3,466

$

(35,115)

$

(19,155)

Interest expense (income), net

1,635

5,312

197

1,085

8,229

Income taxes (benefit)

2,018

3,278

1,617

(2,739)

4,174

Depreciation and amortization

2,330

4,539

3,064

910

10,843

Net earnings (loss) attributable to non-controlling interests

1,295

1,731

(12)

3,014

Non-cash stock-based compensation

1,303

1,303

(Gain) loss on foreign currency transactions, cost recovery income and other

(439)

(1,096)

16,709

15,174

Loss on disposition of fixed assets

17

20

413

345

795

Acquisition costs

5,366

5,366

Pre-opening expenses

538

538

Adjusted EBITDA

$

11,825

$

21,212

$

9,392

$

(12,148)

$

30,281

For the Year ended December 31, 2018

Amounts in thousands

United
States

Canada

Poland

Corporate
and Other

Total

Net earnings (loss) attributable to Century Casinos, Inc. shareholders

$

4,373

$

7,715

$

(153)

$

(8,541)

$

3,394

Interest expense (income), net

1

3,895

206

12

4,114

Income taxes (benefit)

1,508

2,536

595

(2,722)

1,917

Depreciation and amortization

2,178

3,211

3,065

945

9,399

Net earnings (loss) attributable to non-controlling interests

722

(75)

(35)

612

Non-cash stock-based compensation

868

868

(Gain) loss on foreign currency transactions and cost recovery income

(235)

(428)

2

(661)

Loss on disposition of fixed assets

1

10

1,054

25

1,090

Pre-opening expenses

1,668

626

350

2,644

Adjusted EBITDA

$

8,061

$

19,522

$

4,890

$

(9,096)

$

23,377

CENTURY CASINOS, INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
*  The impact of foreign exchange rates is highly variable and difficult to predict.  The Company uses a Constant Currency basis to show the impact from foreign exchange rates on current period financial information compared to prior period financial information using the prior period’s foreign exchange rates. In order to properly understand the underlying business trends and performance of the Company’s ongoing operations, management believes that investors may find it useful to consider the impact of excluding changes in foreign exchange rates from the Company’s net operating revenue, (loss) earnings from operations and net earnings (loss) attributable to Century Casinos, Inc. shareholders. Constant currency results are calculated by dividing the current quarter or year to date local currency segment results, excluding the local currency impact of foreign currency gains and losses, by the prior year’s average exchange rate for the quarter or year to date and comparing them to actual U.S. dollar results for the prior quarter or year to date. The average exchange rates for the current and prior year are reported in Note 2 to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K. The average exchange rates for the three months ended December 31, 2019 and 2018 are presented below.

For the three months

ended December 31,

Average Rates

2019

2018

% Change

Canadian dollar (CAD)

1.3199

1.3218

0.1%

Euros (EUR)

0.9032

0.8763

(3.1%)

Polish zloty (PLN)

3.8702

3.7668

(2.7%)

British pound (GBP)

0.7766

0.7773

0.1%

Source: Pacific Exchange Rate Service

Constant currency information is not a measure of financial performance under generally accepted accounting principles in the United States of America (GAAP) and should not be considered a substitute for net operating revenue, (loss) earnings from operations or net earnings (loss) attributable to Century Casinos, Inc. shareholders as determined in accordance with GAAP.

SOURCE Century Casinos, Inc.

Gambling in the USA

New Trade Association Launches Unprecedented Effort to Strengthen Responsible Online Gaming, Promote Best Practices

Published

on

New Trade Association Launches Unprecedented Effort to Strengthen Responsible Online Gaming, Promote Best Practices

 

The Responsible Online Gaming Association (ROGA), an independent trade association launched by seven of the largest U.S. legal mobile gaming companies, will actively promote a new industry-wide best practices charter, overseen by one of the world’s foremost experts in the field of responsible gaming (RG).

This unprecedented effort will be led by Dr. Jennifer Shatley, a deeply respected responsible gaming executive with more than 25 years of experience in the industry. She will serve as ROGA’s full-time Executive Director, and her role will be to facilitate widespread education to all relevant parties on the subject of responsible gaming.

ROGA will embark on a series of initiatives under Dr. Shatley’s direction. These include research, consumer and industry responsible gaming education and awareness, promoting responsible gaming best practices, an independent data clearinghouse, and an independent certification program.

Demonstrating their commitment to this endeavor, initial member companies – who together represent more than 85% of the legalized online sports betting and iGaming industry – have pledged more than $20 million in support of ROGA’s mission in year one. ROGA’s member companies include BetMGM, bet365, DraftKings, Fanatics Betting and Gaming, FanDuel, Hard Rock Digital, and PENN Entertainment.

“I am humbled, honored, and excited to be selected to lead ROGA during this important period of growth in legalized mobile gaming. Many of America’s largest legal mobile gaming operators will be establishing a framework that helps to aid in responsible gaming education and awareness. Together, our members will work alongside researchers, experts, regulators and stakeholders to promote responsible online gaming and maximize our efforts to support additional responsible gaming education and awareness. By coming together with a clear set of objectives, ROGA and our members will work to enhance consumer protections and help provide easier and more efficient access to responsible gaming tools for consumers to enjoy the entertainment of online gaming,” said Dr. Shatley.

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Compliance Updates

Play’n GO awarded Pennsylvania license 

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Play’n GO awarded Pennsylvania license 

 

Play’n GO has continued on its upward trajectory in North America by landing its latest US iGaming licenses and will soon supply its award-winning content portfolio to operators and players in Pennsylvania and Delaware

These licenses are the fifth and sixth obtained by the Swedish gaming giants in the USA, following New Jersey, Michigan, West Virginia, and Connecticut.

Play’n GO have taken a dual-pronged approach to its strategy in North America, with these US licenses being complimented by the company’s success north of the border in Canada, where Play’n GO was one of the first suppliers to be licensed to supply slot games in the province of Ontario.

Although early in its American journey, Play’n GO games such as Piggy Blitz, make regular appearances in the top 15 most popular titles in all of North America*.

Magnus Olsson, Chief Commercial Officer for Play’n GO, said: “Play’n GO content is the most conducive to player retention across the industry. With player acquisition costs sky high in the US, we’re pleased to be able to offer operators in Pennsylvania access to our content which will keep players coming back for more.

“We are determined to be the number one casino gaming supplier in every regulated market in the world, and given that we are thriving in more than 25 jurisdictions around the world where we have a license, we fully expect a similar success story in Pennsylvania in the coming years.”

Play’n GO is set to release more than 50 online slot titles in 2024 and is active in more than 25 regulated jurisdictions worldwide, including Ontario, New Jersey, Michigan and West Virginia in North America.

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Gambling in the USA

Lightning Box concocts scientific experiment with new release Experi-MENTAL

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 Light & Wonder, Inc. (NASDAQ and ASX: LNW) (together with its subsidiaries, “Light & Wonder” or “L&W”) announced the launch of its new game, Experi-MENTAL, stacked with features, modifiers and a clash with the mad scientist.

Experi-MENTAL has two in-game features to enhance the overall player experience.

This 3×5 title, exhibits the distinctive Expanding Wild Feature, which can award huge prizes for players should the Wild Brain symbol expand and replicate by five times during the Free Games round.

When players enter the mad scientist’s lab, they will stumble across the Upgrading Feature, which zaps the 9, 10, J, Q, K or A symbols into high-paying icons, including Test Tubes, Power Switch, Cat, Pug or Man. The wins are then accumulated and paid out once the reels have stopped spinning.

The Barrel Pick Feature can radio-activate the feature by awarding an extra 15 Free Games, as players are presented with highly dangerous barrels with an unknown material.

A meter appears when players select a barrel, with a red area and a green area in view. Landing on the meter’s green area ensures the Free Games round is triggered and additional games are awarded but landing in the red zone activates only the round itself.

The classic Free Games mode is unlocked when Scatter symbols appear, with five Scatters granting the maximum of 10 Free Games and the Barrel Pick Feature. During the round, Free Games can be retriggered at any time.

Experi-MENTAL is set to go live with Caesars in New Jersey, Michigan and Ontario initially, and will be available at a later date to customers of Light & Wonder’s industry-leading OPENGAMING™ platform.

 Michael Maokhamphiou, Studio Director at Lightning Box, said: “Experi-MENTAL is one Wacky slot game, and we believe it can propel our slots onto the next level.

 “During this game, players can unlock some new features, which add a dramatic element to this slot and classic round that are a cornerstone of Lightning Box’s portfolio. We are in no doubt will love taking on the mad scientist in this epic title.”

 Rob Procter, VP of Game Development at Light & Wonder, said: “2024 is going to be a big year for Lightning Box and the launch of Experi-MENTAL gives players the opportunity to showcase this thrilling game.

 “With a variety of different features exhibited on this captivating title, it sets Lightning Box apart from its competitors, ensuring the player experience is unrivalled.”

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