Connect with us

Industry News

SCCG Enters into Strategic Advisory Agreement with PDX SLOTS

Published

on

 

SCCG Management Founder and CEO, Stephen Crystal, announced the execution of an agreement with RGS provider, PDX Slots, to provide strategic advisory and business development services for North America.

“We are very excited to partner with PDX Slots, their RGS solution is scalable and easy to build on, empowering developers to create games focused on optimizing retention in the regulated iCasino market. We have a great presence in the online casino industry at SCCG. Our best-in-class resources and services, paired with PDX’s product, will fill a major gap in this growing industry,” Stephen Crystal said.

“SCCG was a natural fit with our aligned goal of launching the next generation of retention oriented content in the North American market. Together we’re excited to help new studios go-live and to help operators better engage their players,” Chris Housel, CEO of PDX Slots, said.

The North American iCasino market is rapidly growing. With each new jurisdiction, there is more demand to get unique content approved and live. PDX has joined forces with SCCG to accelerate this process by providing content to regulated online casinos. PDX Slots focuses on providing operators content optimized toward player retention both with proven European content, as well as working with new innovative concepts. SCCG Management is the top advisory firm in the gaming industry with over 30 years of experience.

Industry News

Ainsworth Primed to Progress After 17% Revenue Rise

Published

on

 

AGT chairman Danny Gladstone said a 17% rise in full-year revenue to $284.9m will allow the company to “release new and innovative products to further improve the group’s financial results.”

Underlying EBITDA was $57.8m compared to $55.8m a year ago, with profit before tax, excluding currency effects and one-off items, rising 10.4%. International revenues, which now account for 86% of AGT’s total revenue, rose 24%.

North America revenue in the current period was $140.4m, a 17% increase, while revenues of $80.1m were achieved in Latin America and Europe, climbing 26%.

“This momentum was driven by continued demand in Argentina and a return in venue re-openings within Mexico and Peru. In the current period unit sales in Mexico represented 25 per cent of total unit sales compared to 10% in the PCP,” AGT said.

Gladstone said: “Following the announcement made in November 2023 where the company advised on the engagement of Macquarie Capital as the company’s financial advisor, a strategic review of all potential opportunities has progressed in the period.

“This strategic review encompasses a number of potential alternatives to maximise shareholder value. While there is no assurance that any transaction will result from this strategic review, we will continue to keep the market updated.”

AGT CEO Harald Neumann said the company is “well advanced to capitalize on opportunities and progress to further establish the Ainsworth name as a leading provider within the gaming industry sector.”

“Progress made in the current period further exemplifies the confidence in the strategies implemented which are expected to ensure progressive improvements in the company’s earnings in coming periods.

“The investments we have made have enabled us to upgrade our technology, hardware and improve game performance which are expected to deliver further improvements in our financial results and ensure our long term sustained success.”

Continue Reading

Industry News

Inspired Reports Third Quarter 2023 Results

Published

on

 

Inspired Entertainment, a leading B2B provider of gaming content, technology, hardware and services, reported financial results for the three-month period ended September 30, 2023.

Lorne Weil, Executive Chairman of Inspired, said: “We have completed the financial restatement process and as of today, all amended filings are complete. For the first half of 2023, the net impact to Adjusted EBITDA from the restatement was effectively zero, with a $1 million decrease in previously reported results in Q1 offset by a $1 million increase in Q2. The impact to our Adjusted EBITDA for the full year 2022, was a decrease of $0.6 million, from $99.6 million to $99.0 million, or less than 1%. Adjusted EBITDA margin for the third quarter was 27%, but excluding Low Margin Gaming Hardware sales, the margin was 36%, compared to 37% in the prior year quarter.”

Weil continued: “For the quarter, our aggregate digital business, which includes our Virtual Sports and Interactive segments, grew Adjusted EBITDA 9% to $16.4 million from $15.0 million. Year to date, our digital business generated 58% of Adjusted EBITDA contribution compared to 50% in the prior year period. This performance reinforces the shift in our strategic focus towards our higher margin, scalable digital business and we continue to invest in premium content creation for these segments. At the same time, our Adjusted EBITDA for the third quarter was impacted by the timing of several one-time sales moving into the fourth quarter. Excluding one-time product sales, Adjusted EBITDA grew 4% year-over-year during the third quarter. As we look forward, we expect our fourth quarter Adjusted EBITDA to be in-line with consensus. Additionally, our fourth quarter Adjusted EBITDA would have been nearly $2 million higher if not for the ransomware attack on our IT systems impacting results.”

Weil added: “Our digital business third quarter results were led by the Interactive segment where revenue and Adjusted EBITDA increased 28% and 55% year-over-year on a constant currency basis, respectively, underscoring both the growth and scalability of the business. Interactive results reflect another quarterly record as we continue to benefit from an increased footprint through new customer launches, the consistent deployment of new content and increased promotional activity through exclusive deals with tier-one customers as well as revenue growth from existing customers. In our Virtual Sports segment, we generated $13.4 million of revenue during the quarter compared to $14.4 million during the prior year. The year-over-year decline was driven by a major customer’s optimizing of their customer base, with a partial offset due to increased retail revenue. In the last two to three years, we’ve seen extraordinary growth in our Virtual Sports business, driven by new products and market expansions. We believe we are heading into another strong growth phase, driven by our exciting new content partnerships with the NFL and NBA. We have two major markets with substantial growth opportunity, North America and Latin America. In addition, we’ve recently launched Hybrid Dealer, a revolutionary new iGaming product. We are proud to have partnered with BetMGM to launch this innovative new product. With all of this recent progress, we are more convinced than ever that we are in the early stages of an expanding global opportunity with our digital business that will continue to exhibit a high margin and low capital intensity profile.”

Weil continued: “In our land-based operations, which includes our Gaming and Leisure segments, we’ve completed the deployment of our new ‘Vantage’ cabinet across two of our largest licensed betting shop customers, recording another $22.7 million of low margin terminal sales in Q3. We continue to see approximately 11% year-over-year revenue per machine increases with these new terminal deployments. In our pubs business, we’ve deployed ‘Vantage’ across approximately 20% of our customer estate and have experienced approximately 20% year-over-year growth in revenue per machine. This gives us confidence that we are seeing a reacceleration across our land-based businesses.”

Weil concluded: “Fundamentally, our business remains very strong, which was reflected in our repurchase of $1.5 million of our stock during the third quarter. We are optimistic about the compelling digital growth dynamics of the business, as a wider audience engages with online betting and gaming while new jurisdictions continue to launch. Combined with a resilient land-based business, our diversification and expansion ability reinforce our omni-channel strategy combining our high-margin, capital efficient digital businesses with our steady land-based businesses.”

Continue Reading

Industry News

FanDuel Appoints E. Sequoyah Simermeyer as VP of Strategic Partnerships

Published

on

 

FanDuel Group, a subsidiary of Flutter Entertainment, has appointed E. Sequoyah Simermeyer to the newly established position of VP of Strategic Partnerships.

Simermeyer boasts a distinguished career in public service, where he most recently served as the Chairman of the National Indian Gaming Commission (NIGC).

In his new role at FanDuel, Simermeyer aims to play a crucial part in leading the company’s initiatives to cultivate sustainable commercial relationships across the US, with a specific focus on promoting economic development that supports tribal sovereignty.

“Sequoyah Simermeyer has been at the forefront of shaping and safeguarding tribal gaming, focusing on priority issues and public policy for close to 25 years. We are very honored to welcome Chairman Simermeyer to the FanDuel leadership team, as he brings a career dedicated to addressing tribal economic development. With his guidance we look forward to learning how to best partner with and support native sovereign nations across the country,” FanDuel Senior VP Rikki Tanenbaum said.

“It mattered to me to join a team where I could use my background as a former regulator, legislative staffer and public servant to Indian Country. FanDuel is the leader in mobile gaming and has helped shape the rise of the legalized and regulated marketplace in the US. Mobile gaming remains a very young and dynamic industry, and I’m excited to help the team build out our capacity to work within Indian Country nationally to take advantage of opportunities ahead,” Simermeyer said.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER AGENCY) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER Agency. All Rights Reserved.