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FSB secures landmark regulatory approval in Ontario

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FSB secures landmark regulatory approval in Ontario

 

Sports betting provider takes another major step forward in North America with approval accomplished before market opening

Global B2B sports betting & iGaming service provider FSB has announced they have secured regulatory approval from the Alcohol and Gaming Commision of Ontario (AGCO) to launch its services in the Canadian province.

By becoming one of the first suppliers to receive recognition of the Gaming Related Supplier license in the province, FSB is license-ready as the Ontario online market opens on Monday April 4th.

This significant achievement is another leap forward for the award-winning supplier in North America and comes just weeks after news of a major sports wagering deal in South Dakota.

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FSB will be supplying it’s award-winning omnichannel sportsbook and comprehensive iCasino aggregation to its operator partners in the territory, enabling them to curate sports betting and iGaming experiences that suit their target audiences.

Dave McDowell, Chief Executive Officer at FSB , said: “This hugely exciting news is a landmark moment for FSB and adds further fuel to our aggressive, forward momentum in the North American region.
The pre-market opening approval from the AGCO pays a huge tribute to the quality of our technology, services and people as we push forward in global regulated markets in 2022.

Bob Akeret, Vice President of Operations, North America at FSB, said: “It’s an immensely proud moment for our FSB North American team to be one of the first suppliers to receive AGCO certification.

Being licensed as a Gaming Related Supplier as the market opens puts us in a strong position to play a leading role in Ontario and build further and faster on the major growth we have achieved in North America over the last 12 months. This is an opportunity we look forward to embracing.”

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NorthStar Gaming Reports First Quarter 2024 Results

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NorthStar Gaming Holdings Inc. released its financial results for the three months ended March 31, 2024. All dollar figures are quoted in Canadian dollars.

“In the first quarter we continued our pattern of strong year-over-year growth, highlighted by record total wagers. Our premium customer experience and growing brand awareness are propelling higher player retention, strengthened loyalty and increased player values. These positive trends enable us to spend our marketing dollars more efficiently, contributing to improved operating leverage as the business scales,” Michael Moskowitz, Chair and CEO of NorthStar, said.

Financial highlights for the first quarter ended March 31, 2024:

  • Revenue, including managed services fees, net of bonuses, promotional costs and free bets, was $5.9 million in Q1 2024, an increase of 63% over $3.6 million in Q1 2023.
  • Total Wagers1 at Northstarbets.ca were $218.0 million in Q1 2024, an increase of 56% compared to $140.2 million in Q1 2023.
  • Gross Gaming Revenue at NorthStarbets.ca was $7.0 million in Q1 2024, an increase of 59% over $4.4 million in Q1 2023.
  • Gross Margin was $2.2 million in Q1 2024, an increase of 91% over $1.2 million in Q1 2023, and represented approximately 37% of revenue compared to 32% of revenue in Q1 2023.

Recent Operating Highlights:

  • Notable year-over-year improvements in key performance indicators (KPIs) included a 42% increase in active players, a 9% decline in cost per acquisition of a customer (CPA), and a 54% increase in estimated 12-month player values.
  • Renewed the strategic marketing agreement with Playtech Software Limited, which will contribute services valued at up to $4 million through to October 31, 2024, designed to accelerate player acquisition in Ontario.
  • Secured $3 million of short-term financing to fund the Company’s continued growth through an unsecured promissory note to Playtech plc dated April 25, 2024 repayable in one year, or earlier upon completion by the Company of additional financing transactions.
  • Recently celebrated the second anniversary of the NorthStar Bets platform, which launched in Ontario on May 9, 2022. Northstarbets.ca has generated more than $1 billion in total wagers1 in its first two years of operations.
  • Ongoing roll-out of enhancements to the Company’s “Sports Insights 2.0” content vertical, an initiative announced in February 2024, with recent additions including player injury reports from industry leader RotoWire and a revised content strategy placing a greater emphasis on casino.
  • Launched the VIP Elite program to help secure the loyalty and satisfaction of our most active players.
  • Introduced branded studios for select live dealer games, prominently showcasing the NorthStar Bets brand and reinforcing the Company’s positioning as a premium offering.
  • Continued to strengthen the Casino vertical, which has surpassed 650 games covering all major categories and curated from leading vendors worldwide.

“March was the strongest month of Q1, and we have maintained that momentum into the second quarter. Our team is making regular improvements to our service offering, such as the recent launch of a VIP Elite strategy aimed at the most active players who drive a meaningful share of our results. We have some exciting demand creation activities planned for the coming months along with further innovations to our platform and content. We remain focused on unlocking value for our stakeholders and are excited about the opportunities ahead of us in 2024,” Mr. Moskowitz said.

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Swintt games approved for release in Ontario

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Swintt games approved for release in Ontario

 

In-demand software provider receives AGCO approval to operate in the regulated province, bringing full suite of games to Canadian players for the very first time

Swintt, the EGR award-winning software provider famed for its classically-themed Premium releases and state-of-the-art Select slots, has announced it has received permission to operate in Ontario, meaning its full suite of games will now available to AGCO-licensed platforms.

Having unveiled ambitious plans to expand into further regulated markets at the start of 2024, Swintt’s portfolio is now certified in eleven countries including Malta, Germany and the Netherlands, but this latest approval represents the company’s maiden entry into North America.

This means that not only will Ontarian players now be able to enjoy popular SwinttGames releases like the fan favourite slot Aloha Spirit XtraLockTM, but also newer upcoming games from Elysium Studios – Driven by Swintt.

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The product of Swintt’s acquisition of Elysium Studios earlier this year, the collaboration has resulted in a new line-up of releases being added to the software provider’s roster, with these games combing immersive themes and features with the very latest in slot design and graphics.

Tipsy Charms, the first game in the Elysium Studios – Driven by Swintt line-up, has already launched to great effect – and with the Mesopotamian-themed adventure, Law of Gilgamesh, scheduled for May 30th, there’s plenty for Ontarian players to look forward to in the coming weeks.

With all this and more on the horizon for the province in the second half of 2024, everyone at Swintt is excited about entering the regulated Canadian market for the first time and the company has high hopes that the approval will further underline its credentials as a leading global provider.

David Mann, Chief Executive Officer at Swintt, said: “Swintt is delighted to have received AGCO approval for its games in Ontario and we’re very excited to now have the chance to take this new and dynamic market by storm. Being certified to launch in Ontario is definitely a huge step for the company that will enable us to showcase our brand to new audiences on the global stage.”

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Rivalry to Report First Quarter 2024 Results on May 30

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Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, today announced details of its planned release of first quarter 2024 financial results.

The Company expects to file its Q1 2024 results the morning of Thursday, May 30, 2024 prior to the commencement of TSXV trading. Management plans to host an investor conference call that same day at 10:00 am EDT to discuss the results.

Conference Call Details
Timing: Thursday, May 30, 2024 at 10:00 am EDT
Dial-in: 1-800-717-1738 (toll free) or (+1) 289-514-5100 (local or international calls)
Webcast: A live webcast can be accessed from the Events section of the Company’s website at rivalrycorp.com
A replay of the webcast will be archived on the Company’s website for one year.

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