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Wesley Ward Well-Represented in May 13 Road to Royal Ascot at Gulfstream

Published

2 years ago

May 11, 2023

Trainer Wesley Ward, who has saddled 12 winners at Royal Ascot during his remarkable career, will be well represented at Gulfstream Park on May 13 when he sends out legendary former-jockey Steve Cauthen’s Holding the Line for a start in the $100,000 Royal Palm Juvenile and Stonestreet Stables LLC’s Ocean Maid for a run in the $100,000 Royal Palm Juvenile Fillies.

The Royal Palm Juvenile, a five-furlong turf stakes for 2-year-olds, and the Royal Palm Juvenile Fillies, a five-furlong turf stakes for 2-year-old fillies, will both provide their respective winners with an automatic berth into one of six stakes during the June 20-24 Royal Ascot meeting, as well as a $25,000 equine travel stipend for shipping from the U.S. to England. The FTBOA will also offer a $25,000 bonus, above and beyond purse money won, to a Florida-bred winner in addition to the winner’s share of the purse.

These races represent the first-ever U.S. Automatic Qualifiers for the Royal meeting, building top-class international participation at Royal Ascot, boosting global awareness and deeper fan engagement around important industry innovations like the World Pool.

Holding the Line, an Irish-bred son of Soldier’s Call, is prominent in a field of 10 entered for the inaugural running of the Royal Palm Juvenile. Ocean Mermaid, a daughter of Kingman, will face 11 other fillies entered for the Royal Palm Juvenile Fillies. Holding the Line was purchased for $71,070 at the 2022 Tattersalls October yearling sale by Cauthen, ‘The Kid’ who rode Affirmed for a sweep of the 1977 Triple Crown before enjoying a highly successful career riding in Europe.

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“He’s a horse purchased over in England. Steve picked him out with the hopes he himself can get back to Royal Ascot. They had him there last year commentating,” Ward said.

Holding the Line is unraced due to the lack of turf opportunities for 2-year-olds at Keeneland this spring. “There was only one race, and every trainer was allowed only one horse in the race if it oversubscribed. That entrant was Fandom,” Ward said.

Ward saddled Stonestreet Stables’ Fandom for a 6 ¾-length triumph on turf April 27 to earn his way to Royal Ascot, and Holding the Line is well prepared for his career debut in the Royal Palm Juvenile. “He’s a beautiful colt. He improved in his workouts at Palm Meadows when he was down in Florida on the grass. He’s bred top and bottom for the turf, so I’m anxious to get him on there,” said Ward by phone from his Keeneland base.

Holding the Line continued his training at Keeneland before shipping to Payson Park, where he breezed three furlongs in 37 seconds Saturday morning. Hall of Famer John Velazquez has been named to ride Holding the Line, who figures to face a stern test in his debut.

Trainer George Weaver entered Dew Sweepers LLC’s Blast Furnace in the Royal Palm Juvenile, as well as unraced No Nay Mets, who was purchased for $335,000 at the OBS April 2-year-olds in training sale. Blast Furnace chased the Ward-trained Fandom at Keeneland in the April; 27 five-furlong maiden special weight race on turf before settling for second, No Nay Mets is a son of No Nay Never, whom Ward saddled for a victory in the 2013 Norfolk at Royal Ascot. Edwin Gonzalez has been named on Blast Furnace, while Luca Panici has the call on Irish-bred No Nay Mets.

Arindel’s revered breed-to-race farm has Reaper, an impressive 5 ¾-length winner over Gulfstream’s main track April 21, entered to make his turf debut in the Royal Palm Juvenile. Emisael Jaramillo was given the call aboard the homebred son of Brethren. Arindel will also be represented by Tiberian Sun, an unraced homebred son of Brethren. Reaper and Tiberian Sun are two of four Florida-bred entrants eligible for the FTBOA bonus. Jacks or Better Farm Inc.’s Northshore Drive, who finished third behind Reaper, and Iron Horse Racing Stable LLC and Harlow Stables LLC’s Mattingly, an unraced son of Bucchero, are also Florida-bred. Xaverius Racing Corp.’s Praiseworthy, Gerald James and Hall Performance LLC’s Shotgun Pro, and EAC Racing Stable LLC’s Zaino, round out the field.

Ward had been waiting patiently for Ocean Mermaid to make her debut before entering the Great Britain-bred filly in the Royal Palm Juvenile Fillies.

“She’s a turf filly. She was purchased at Tattersalls. Unfortunately, there has been only one turf race in America, that being a colt race. The filly race at Keeneland here was rained off the turf,” Ward said. “Looking for a race with this race in mind from the onset, we sent her down there and had a nice breeze at Payson at my barn there. She’s ready to go.”

Ocean Mermaid breezed on turf at Palm Meadows, Gulfstream’s satellite training facility in Palm Beach County, before putting in four workouts at Keeneland. She breezed three-furlongs in 37.80 at Payson Park Saturday morning. The daughter of Kingman was bought by Barbara Banke’s Stonestreet Stables LLC for $252,546 at the Tattersalls October yearling sale.

“She was purchased to go to Royal Ascot. That was the whole reason for the purchase, as Barbara does each and every year. Bloodstock agent Ben McElroy goes over every year and picks out a few horses that look like Royal Ascot candidates,” Ward said. Velazquez has the call on Ocean Mermaid.

Dew Sweepers LLC’s Crimson Advocate goes into the Royal Palm Juvenile Fillies off a promising debut at Keeneland April 26. The George Weaver-trained daughter of Nyquist raced wide and in traffic before finishing third in a five-furlong maiden special weight race on dirt. Edwin Gonzalez has the call on Crimson Advocate.

Christian Cruz’s She Has Class is the long entrant to have visited the winner’s circle. The Javier Gonzalez-trained daughter of Khozan closed from off the pace to capture her debut in a 4 ½-furlong maiden special weight race on Gulfstream’s main track April 10. She Has Class is one of four Florida-bred fillies eligible for the FTBOA bonus.

Gary Barber and D. J. Stable LLC’s The Myth, an unraced daughter of The Factor trained by Hall of Famer Mark Casse; Robin Kaiser’s Bucchera, an unraced daughter of Bucchero trained by Laura Cazares; and Cornejo Racing LLC’s Girvin Girl, an unraced daughter of Girvin trained by Carlos David; are the other Florida-bred entrants.

D. J. Stables LLC is also represented in the Royal Palm Juvenile Fillies by Fumblerooski, a Kentucky-bred daughter of Liam’s Map trained by Joe Orseno. Double D. Racing’s Turf Rocket, a daughter of More Than Ready, is scheduled to debut for trainer Jeremiah O’Dwyer, who enjoyed international success this season after saddling Sibelius for a victory in the Dubai Golden Shaheen. Arindel’s Kiss, Jeffrey Crooks’ My Sweetheart Dani and Starry Night Racing’s Scootaloo round out the field.

Related Topics:Gulfstream Road to Royal Ascot Wesley Ward

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Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)

Published

7 hours ago

November 15, 2024

George Miller

Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)

Bragg Gaming Group, a global B2B content-driven iGaming technology provider, reported record revenue for the third quarter of 2024.

Summary of 3Q24 Financial and Operational Highlights

Euros (millions)⁽¹⁾	3Q24	3Q23	Change
Revenue	€ 26.2	€ 22.6	15.9 %
Gross profit	€ 14.0	€ 11.9	18.1 %
Gross profit margin	53.5 %	52.5 %	99 bps
Adjusted EBITDA⁽²⁾	€ 4.1	€ 3.8	7.1 %
Adjusted EBITDA margin	15.6 %	16.9 %	(129) bps
Operating Income (Loss)	€ (0.4)	€ (2.1)	(81.0) %

(1) Bragg’s reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.12. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only.
(2) “Adjusted EBITDA” is a non-IFRS measure. For important information on the Company’s non-IFRS measures, see “Non-IFRS Financial Measures” below.

Chief Executive Officer Commentary
Matevž Mazij, Chief Executive Officer for Bragg, commented, “The third quarter marked another period of strong growth and record results for Bragg. Revenue grew 16% year-over-year, gross profit increased 18%, and Adjusted EBITDA rose 7%. In the U.S., strong third quarter revenue gains from content distribution helped drive a 40% global increase in proprietary online content revenue year-over-year.

“Additionally, we announced today that the Board of Directors has unanimously decided to conclude its review of strategic alternatives for Bragg. After extensive evaluation and deliberation, the Board determined that the ongoing execution of the Company’s strategic plan is the best way to maximize value for shareholders at this time.

“Since stepping in as Chairman 16 months ago and then as CEO 14 months ago, we’ve transformed our executive team, restructured commercial operations, and sharpened our sales strategy with a targeted, jurisdictional approach. These decisive actions position us to drive growth and capture market opportunities with greater precision and impact. Under new leadership, we’ve built a strong pipeline of tier 1 opportunities across key markets and key products, positioning Bragg for accelerated top- and bottom-line growth.

“With the strategic review process now complete, Bragg is now fully focused on commercialization and unlocking profitable growth, without the need for significant new investment in product development. Our decade-long investments in technology and talent, combined with a robust leadership team, have built a scalable platform that uniquely positions us for aggressive growth in 2025 and beyond. With significant operating leverage now within reach, we’re poised for an exciting, high-growth, and profitable future.”

Third Quarter 2024 and Recent Business Highlights

Launched its newest games and Remote Gaming Server (RGS) technology with Caesars Digital in Pennsylvania and Ontario. The launch marked the expansion of Bragg’s existing partnership with Caesars Digital, following earlier launches in New Jersey and Michigan respectively, doubling the number of states/provinces in which Bragg content is offered on Caesars Palace Online Casino and Caesars Sportsbook & Casino.
Launched its newest games and RGS technology with FanDuel in New Jersey, adding to its existing distribution with the leading North American operator in Michigan, Pennsylvania, Connecticut and Ontario
Post-quarter end, the Company additionally launched its newest games and RGS technology with bet365 in New Jersey, following on from its second quarter launch in Pennsylvania, and an earlier launch in Ontario with the major global iGaming operator
Launched HardRockCasino.nl in the Dutch market, supplying its cutting-edge player account management (PAM) software to the brand. The agreement is Bragg’s 6th PAM customer in the Netherlands, reinforcing Bragg’s status as the leading technology and content supplier in the Dutch market
Launched the Kambi sportsbook on 711.nl, adding an additional revenue-generating product stream to a key PAM customer in the Netherlands
Management is pleased to announce the appointment of Robbie Bressler to CFO of Bragg, effective immediately. Robbie had been serving as Bragg’s interim CFO since July 1, 2024.

Additional September 30, 2024 Key Financial Metrics

For the nine-month period ended September 30, 2024, Cash flow generated from operations was EUR 8.4 million (USD 9.4 million), compared to EUR 6.2 million (USD 6.9 million) for the nine-month period ended September 30, 2023.
Cash and cash equivalents as of September 30, 2024 was EUR 11.6 million (USD 13.0 million) and net working capital, excluding deferred consideration, loans payable, and convertible debt, was EUR 11.3 million (USD 12.7 million)

Strategic Alternatives Process Concluded
The Bragg Board announced the strategic alternatives process in March 2024 with the formation of a Special Committee, comprised solely of independent members of the Board. The Committee, together with its advisors Oakvale Capital LLP and Blake, Cassels & Graydon LLP, evaluated a wide range of strategic alternatives for maximizing shareholder value including a potential sale or merger of the Company. Bragg solicited interest from a significant number of potential counterparties and received multiple non-binding proposals.

After careful consideration, the Board, on recommendation from the special committee, unanimously determined that none of the proposals received reflect the Company’s intrinsic value or current and projected financial performance, and therefore elected to conclude its review and disband the Special Committee.

Don Robertson, independent Board member and Chair of the Special Committee, said, “After a comprehensive and exhaustive process, the Committee recommended, and the Board unanimously agreed, that continuing to execute Bragg’s strategic plan as an independent public company is the best approach for maximizing shareholder value. Although the process has now concluded, Bragg’s Board will continue to be open to and consider all opportunities for enhancing shareholder value.”

“Over the past year, our financial performance, cashflow generation and revenue outlook have significantly improved. We remain extremely confident about our business plan, operating strategy, and financial prospects” said Matevž Mazij, Chairman and CEO of Bragg.

Reiterates Full Year 2024 Guidance and 2025 Outlook
Bragg reiterates its 2024 full year revenue guidance range of EUR 102.0-109.0 million (USD 114.2-122.1 million) and its full year Adjusted EBITDA range of EUR 15.2-18.5 million (USD 17.0-20.7 million), noting that the Company is currently tracking to the lower end of guidance.

Bragg is actively advancing a robust pipeline of opportunities that is anticipated to drive strong momentum as we enter 2025. The outlook for 2025 remains positive, with expectations of sustained double-digit top line growth, expanding bottom line margins, and increased operational leverage, further strengthening Bragg’s position in the market. The preceding guidance and outlook constitute forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks.

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BetMGM and Vegas Golden Knights Announce Multi-Year Partnership Extension

Published

7 hours ago

November 15, 2024

George Miller

BetMGM and Vegas Golden Knights Announce Multi-Year Partnership Extension

BetMGM, a leading sports betting and iGaming operator, announced an extension of its partnership with the Vegas Golden Knights through the 2026-27 season. As part of the agreement, BetMGM will continue as an Official Betting Partner of the Vegas Golden Knights with prominent signage on the Knight Tron and throughout T-Mobile Arena as well as co-branded content and exclusive promotions. The partnership also features multiple fan engagement opportunities including watch parties and Toshiba Plaza activations.

“BetMGM is proud to continue our partnership with the Vegas Golden Knights, giving us the opportunity to create memorable moments alongside one of the world’s most passionate hockey fan bases. Las Vegas is BetMGM’s hometown and an integral part of our DNA, so the Golden Knights are a natural fit for our brand.” – Matt Prevost – BetMGM, Chief Revenue Officer.

Throughout the season, BetMGM will host watch parties featuring team mascots at various MGM Resorts destinations. The operator also will plan activations in Toshiba Plaza during select Golden Knights home games where fans can begin the BetMGM mobile app registration process for the chance to win prizes.

“BetMGM is a long-standing partner with the Golden Knights and a brand synonymous with this great city,” said Vegas Golden Knights President and CEO Kerry Bubolz. “We look forward to continue working together on events and activations that we know entertain our fans.”

Lance Evans, SVP Sports and Sponsorships, MGM Resorts, said, “The Vegas Golden Knights play a core role in the Las Vegas sports and entertainment experience and it’s a privilege to welcome both local and visiting fans to our properties before, during and after games. Together with BetMGM, we look forward to co-hosting events that will allow guests to engage with their favorite teams in new and exciting ways.”

BetMGM users can take advantage of the robust offering of prop markets for Golden Knights games this season, frequent in-app odds boosts and the interactive same game parlay betting feature. New BetMGM customers who download the BetMGM app and verify at one of BetMGM’s nine retail sportsbooks within walking distance of T-Mobile Arena will receive a first bet offer of up to $250 paid back in bonus bets if their first bet loses (offer only available in Nevada; bonus bets are non-withdrawable and expire in seven days.) Through the recently launched single account and wallet app upgrade, BetMGM users who sign up in Nevada and reside in other BetMGM U.S. mobile markets can continue to wager upon returning home.

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EVERI STOCKHOLDERS APPROVE ACQUISITION BY APOLLO FUNDS

Published

8 hours ago

November 15, 2024

George Miller

Everi Holdings Inc., a premier provider of land-based and digital casino gaming content and products, financial technology, player loyalty solutions, and bingo, announced that its stockholders have voted at a special meeting of Everi stockholders to approve the pending simultaneous acquisition of Everi and the Gaming & Digital business of International Game Technology PLC by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. through a merger. As previously announced, pursuant to the terms of the merger agreement, Everi stockholders will receive $14.25 per share in cash for every share of Everi common stock they own immediately prior to the effective time of the merger.

At the Special Meeting, approximately 99.88% of the shares voted were voted in favor of the merger, which represented approximately 71.48% of the total outstanding shares of Everi common stock as of October 3, 2024, the record date for the Special Meeting.

“We are pleased that our stockholders supported our transaction with the Apollo Funds,” said Michael Rumbolz, chairman of the Company’s Board of Directors. “We now shift our focus to the important next steps toward completing the transaction and maximizing value for Everi stockholders.”

Assuming timely satisfaction of necessary closing conditions, the proposed transaction is expected to close by the end of the third quarter of 2025.

The final voting results on the proposals voted on at the Special Meeting will be set forth in a Form 8-K filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”).