Latest News
Wynn Resorts Invests $3.5M in Blue Wire
Wynn Resorts has entered into a deal with Blue Wire and invested $3.5 million in the sports podcasting network.
The deal includes the build-out of a podcasting studio in the Wynn Las Vegas lobby. That studio will host Blue Wire podcast personalities as well as star athlete guests to entice people to visit the hotel, get excited about sports, and hopefully place bets on them. Wynn runs a subsidiary business called WynnBet, which handles sports betting, and the team specifically eyed Blue Wire to promote that brand.
Craig Billings, president of Wynn Resorts, says the studio will be “activated” during March Madness and NFL kickoff, for example, to bring energy to the hotel around sports, and in turn, it’ll get people to possibly gamble on games. The studio is set to open this summer with Blue Wire branding committed to it for three years.
With this deal and investment, Blue Wire CEO Kevin Jones says his team will hire staff on both the operations and talent side based in Vegas. Wynn will receive equity through this investment as well as some in-podcast ads, and the two groups will also collaborate on a branded podcast for WynnBet. Billings and Jones declined to share details about the branded show other than to say it’ll have a “deep level of storytelling” that’s “entertaining” and “compelling.”
Compliance Updates
Internet Vikings Provides VMware License to Alpha Innovations
Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces their partnership with Alpha Innovations, a provider of data center services. Under the agreement Internet Vikings will supply Alpha Innovations with VMware licensing through its VMware White Label solution.
Alpha Innovations, known for being a leading Managed Services Provider including cloud computing, data storage, and backup, has chosen to partner with Internet Vikings, a member of the Broadcom Premier Partnership program. This membership highlights Internet Vikings’ capabilities in supporting large-scale and highly regulated environments.
Internet Vikings will provide Alpha Innovations with the essential VMware license, an asset for their cloud offerings. This addition enhances Alpha Innovations’ capability to set up and maintain regulated and compliant cloud environments while upholding their high standards.
“The added value of our licensing solutions and support services aligns perfectly with Alpha Innovations’ needs,” said Rickard Vikström, CEO and Founder at Internet Vikings.
Douglas Tate, CEO at Alpha Innovations added, “As a leading Managed Service Provider (MSP), Alpha Innovations is always looking for ways to improve our service offerings. Our partnership with Internet Vikings is a win-win for our clients. By leveraging Internet Vikings’ VMware licensing solutions, we can offer our clients more flexible, scalable, and secure cloud solutions. This will ultimately help our clients achieve their business goals more efficiently and effectively.”
Both companies are committed to maintaining a transparent and mutually beneficial relationship, demonstrating how data centers and hosting providers can collaborate to meet the licensing needs of the industry.
Latest News
Golden Entertainment Reports 2024 Third Quarter Results
Golden Entertainment Inc. reported financial results for the third quarter ended September 30, 2024. The Company reported third quarter revenue of $161.2 million, net income of $5.2 million and Adjusted EBITDA of $34.0 million. In addition, on November 5, 2024, the Company’s Board of Directors authorized the Company’s recurring quarterly cash dividend of $0.25 per share of the Company’s outstanding common stock payable on January 7, 2025 to shareholders of record as of December 20, 2024. The Company’s Board of Directors also increased the Company’s share repurchase authorization by $100 million, creating $131.4 million of current availability under the Company’s share repurchase program.
Blake Sartini, Chairman and Chief Executive Officer of Golden, said: “In the third quarter, we have maintained our commitment to returning capital to shareholders through our regular dividend and share buyback program despite a challenging operating environment for our properties. We anticipate that business conditions will improve in the fourth quarter and, with our increased share buyback authorization currently at over $130 million, we expect to continue to use our liquidity to acquire our own shares throughout the year.”
The Company repurchased 815,116 shares of common stock in the third quarter, at an average price of $31.65 per share for a total of $25.8 million. In October, after the end of the quarter, an additional 134,613 shares were repurchased for a total of $4.2 million. Year to date, the Company has repurchased 1.94 million shares of the Company’s common stock at an average price of $30.70 per share for a total of $59.5 million.
Consolidated Results
The Company reported third quarter of 2024 revenues of $161.2 million and Adjusted EBITDA of $34.0 million, compared to revenues of $257.7 million and Adjusted EBITDA of $53.2 million for the third quarter of 2023. The declines in revenues and Adjusted EBITDA over the prior year period were primarily related to the exclusion of the results for the Company’s Rocky Gap Casino Resort and distributed gaming operations in Montana and Nevada that were sold on July 25, 2023, September 13, 2023 and January 10, 2024, respectively. The Company reported net income of $5.2 million, or $0.18 per fully diluted share, for the third quarter of 2024, compared to net income of $241.2 million, or $7.83 per fully diluted share, for the third quarter of 2023. The third quarter of 2023 results included the impact of the $305.8 million gain on the sales of the Rocky Gap Casino Resort and the Montana distributed gaming business recognized during the quarter.
Debt and Liquidity
As of September 30, 2024, the Company’s total principal amount of debt outstanding was $399.0 million, consisting primarily of $395.0 million in outstanding term loan borrowings.
As of September 30, 2024, the Company had cash and cash equivalents of $68.6 million. There continues to be no outstanding borrowings under the Company’s $240 million revolving credit facility.
Conferences
CEO Alona Shevtsova: Leo Messenger Team at SiGMA Europe Conference 2024
The Leo Messenger team has officially arrived at the SiGMA Europe Conference 2024 in Valletta and is excited to meet with partners, clients, and potential collaborators. This premier iGaming event, which takes place from November 11 to 14, brings together global leaders and innovators in the industry, making it the ideal platform for Leo Messenger to showcase its cutting-edge communication technology.
Visitors are invited to the Leo Messenger booth to discover the app’s latest features tailored for the iGaming sector, with exclusive insights into messaging solutions that enhance user engagement and streamline business communication. The Leo Messenger team will also offer promo codes and opportunities for in-depth discussions on its upcoming developments.
“With a wide range of panels, talks, and workshops, SiGMA delivers the latest insights and trends in the gaming and tech sectors. This is an opportunity for us to stay updated with industry shifts and adapt strategies accordingly. Also, the face-to-face environment helps build trust, which is crucial for lead generation and converting prospects into clients.” said Alona Shevtsova, CEO of Leo Messenger.
Leo Messenger has recently introduced payment functionality within its app, allowing users to purchase in-app content easily. More payment capabilities are planned in the coming months. With a focus on privacy and security, Leo Messenger is committed to providing seamless, encrypted communication solutions worldwide.
Those interested in connecting with the Leo Messenger team are encouraged to reach out via LinkedIn or visit the booth to schedule a meeting.
For more information, visit SiGMA Europe 2024 or learn about Leo Messenger at leomessenger.app.
About Leo Messenger:
Leo Messenger is a global communications platform focused on user safety and privacy. Available on iOS and Android, it offers end-to-end encrypted messaging, calls, and media sharing. Leo Messenger is free to download on the Apple Store and Google Play.
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