Latest News
Get Ready for the iGaming and TECH Summer Run-Off on Strava!
Welcome to the iGaming and TECH Summer Run-Off on Strava! 🌞
The sun is shining, the trails are calling, and it’s time to break out those running shoes! We are excited to announce the launch of the iGaming and TECH Summer Run-Off, a dynamic and engaging challenge designed to bring together professionals from the igaming and tech industries. This event runs from June 14 to August 31, inviting participants to step away from their screens and hit the pavement.
Why You Should Join:
- Boost Your Health: Swap screen time for running time and reap the benefits of fresh air and physical fitness.
- Connect with Colleagues: Interact with peers in a fun and supportive environment. Share routes, running tips, and motivation!
- Compete and Conquer: Keep an eye on the leaderboard, challenge friends, and track your progress. Who will be the top runner this summer?
Challenge Details:
- Period: June 14 – August 31
- Open To: Everyone in the igaming and tech sectors. All skill levels are welcome, from beginners to marathon veterans.
- Goal: Whether it’s your first 5K or you’re training for a marathon, set personal goals and use the club to stay on track.
Prizes and Perks:
- Recognition: Weekly shoutouts for top performers and most improved runners.
- Swag: Exclusive gear for standout runners at the end of the summer.
Getting Started Is Easy:
- Join the Club: Search for “iGaming and Tech Summer Run-Off” in Strava Clubs or click here and hit ‘Join’.
- Log Your Runs: Use Strava to track your runs. Each run will automatically update the leaderboard in our club.
- Engage: Post your routes, share photos from your runs, and engage with other members in the discussion section.
Let’s make this summer unforgettable! Lace up your running shoes, set your goals, and let’s run this season into the ground. Ready to sprint into action?
For more information and to join the challenge, visit our Strava club here.
The up-to-date leatherboard can be found here: https://hipther.com/2024summer-run-off/
Don’t forget to share your runs on social media! Tag @HIPTHER to showcase your achievements and connect with fellow participants. This challenge isn’t just about physical fitness—it’s about boosting our mental well-being too.
Let’s support each other and make strides towards better health, both mentally and physically! #iGamingTechRunOff #HIPTHER
Latest News
EvenBet Gaming Launches Innovative Poker Solutions with JugaMax in Paraguay
EvenBet Gaming has announced the launch of its advanced poker solutions in partnership with JugaMax, one of the largest and most respected casino operators in Paraguay. This strategic collaboration marks EvenBet’s debut in the Paraguayan iGaming market, solidifying the company’s expansion within Latin America.
The newly established partnership enables the integration of EvenBet Gaming’s poker offering on the JugaMax platform. Players will now have access to an engaging range of cash games, Sit & Go and Spins tournaments, providing opportunities for both novice and seasoned poker enthusiasts.
The collaboration with JugaMax comes at a pivotal time for the Paraguayan iGaming market, which has witnessed significant growth due to recent regulatory advancements and increasing player demand. In 2023, online casino revenues in the country rose by 14.2%, surpassing USD 23 million, with an average annual revenue per user (ARPU) of over USD 1500. Market projections indicate nearly 30% growth over the next three years, highlighting substantial opportunities for operators and suppliers.
By joining forces, EvenBet Gaming and JugaMax are poised to leverage this growth trajectory and cater to the evolving preferences of the region’s player base. This partnership not only broadens EvenBet’s presence in the Latin American market but also enriches JugaMax’s portfolio with cutting-edge poker solutions.
Manuel Jiménez, Head of LatAm Sales at EvenBet Gaming, said: “We are thrilled to partner with JugaMax and bring our innovative poker solutions to the burgeoning Paraguayan market. With JugaMax’s reputation as a leading operator, coupled with our advanced gaming technology, we are confident that this partnership will transform the online poker landscape in the country and expand our footprint in Latin America.”
Pablo Bergesio, President of JugaMax,said: “The integration of EvenBet’s poker solutions significantly enriches our offering, helping us to attract a wider audience of poker players across Latin America who appreciate exciting and innovative content. With the iGaming market in Paraguay showing promising growth, the partnership is set to play a significant role in our future success in the region, solidifying our position as a leading operator.”
This collaboration underscores EvenBet Gaming’s commitment to delivering exceptional gaming solutions and reinforces its position as a leading provider in the Latin American market.
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.
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