Tag: Financial

GVC posts 18 percent online growth as regs hit retail

GVC Foxy Bingo
In its last trading update before the new FOBT stake comes into play, Ladbrokes parent company, GVC, has posted a promising doubledigit lift in online..

UK online market jumps 12.8 percent for FY17/18

The UKGC has reported that the UK online industry’s gross gaming yield for the 12 months to 31 March hit £5.3bn, as market yield jumped 4.2 percent to £14.4bn. The online sector, which now accounts for 37 percent…

Board of Scout Gaming Group decides to conduct directed rights issue of 900,000 shares

Scout Gaming Group, shares, financial, investment
The Board of Scout Gaming Group has decided to issue a new issue of 900,000 new shares to institutional investors. The new issue was signed by Swedbank Robur, which after the Rights Issue becomes a significant owner with 1 180 000 shares (8.88% of the share…

Scientific Games set to appeal “wrong result” of patent infringement finding

Following six years of legal dispute, Scientific Games has been ordered to pay $315m to a group of companies claiming the supplier unfairly protected its own patents, a ruling the company will appeal. Scientific Games will launch an appeal against a $315m

Scientific Games adds $900 million to Private Offering

Scientific Games offering
Scientific Games has confirmed it is upsizing and pricing of a Private Offering of an additional $900 million of 5.000% Senior Secured Notes, €325 million of 3.375% Senior Secured Notes and €250 million of 5.500% Senior Unsecured Notes   Scientific Games International, Inc. has priced an additional $900 million principal amount of its 5.000% senior secured notes due 2025 (the "New...

Mobile games key factor in NetEnt revenue growth

BBi - NetEnt EGR B2B Awards mobile
The latest interim report from NetEnt shows the company has continued to increase its revenue profits, particularly in the mobile games sector.   Commenting on the Q2 2017 figures, Per Eriksson, President and CEO, said: “The quarter featured continued solid growth, higher profitability and a strong cash flow. The most important growth drivers were mobile games, Great Britain and Italy. During...

Playtech stock hits record high in June

BBi - Playtech June SSBTs
Shares in gaming software firm, Playtech, hit an all time high in June, as financial markets clearly approve of the firm’s recent string of strategic acquisitions.   “We continue to like the Playtech investment case due to its industry leading software; its long-term growth opportunities and abundant potential for value enhancing ,” said analyst at Goodbody, Gavin Kelleher. The group is currently...

Easy Payment Gateway receives £5.5m injection

Easy Payment Gateway £5.5m
Online payment specialist for BetVictor, iGC, Nektan, VodooDreams, Ikibu, and more, Easy Payment Gateway (EPG), has bolstered its war chest after completing a £5.5m funding round.   The investment will be spread over two phases, with an initial £2m followed up by a further £3.5m once all KPIs are met. Easy Payment Gateway claims it plans to use the cash to drive...

GVC latest report signals strong results for Q2

BB - Jackpotjoy accounts report AGM Cherry Yggdrasil Newgioco strong
GVC Holdings PLC, the multinational sports betting and gaming group, has confirmed a strong quarter in its trading update for the six months to 30 June 2017.   GVC’s Q2 report highlighted a number of key growths in relation to NGR with trading figures in line with management expectations alongside the completed disposal of Kalixa. The group’s latest KPI figures show another...

Scientific Games reports a year of growth, progress and innovation

Betting Business - nyx Scientific Games Growth Progress 2016 results
Scientific Games announces its Q4 results for 2016 with the company’s CEO highlighting key areas of growth and progress.   Scientific Games Corporation has confirmed its results for Q4 2016 showing a 2 percent increase in revenue year-on-year to $752.2 million. In addition, the Company announced the completion of financing transactions which will result in an approximate $30 million reduction in annualized...

Amaya hikes yearly earnings forecast after strong Q4

Betting Business Amaya Gaming
Following a difficult and often controversial year for the company, Amaya has come back fighting with a strong fourth quarter and a six-percent hike in its year-long adjusted earnings forecast.   The Canada-based firm, which owns and runs PokerStars, the world’s largest online poker brand, had been mired in discussions with ex-CEO and co-founder David Baazov over a potential takeover for...

32Red registers record NGR and maintains strong profit forecasts for 2017

Betting Business 32Red Financial Plc
32Red records its highest net gaming revenues for Q4 2016 despite tough economic forecasts.   The award-winning online casino, poker, bingo and sports operator, 32Red, has announced record net gaming revenues (NGR) of £62.3m for 2016, 28% up on 2015. 32Red claims it trimmed its 2016e EBITDA forecast by £0.5m to £10.5m due to below-average H216 win margins, as widely reported across...

The Rank Group posts encouraging digital results in half-year report

betting business rank group Henry Birch
The latest half-year results have been announced by The Rank Group Plc, with strong showings across digital operations.   The British gambling company, The Rank Group Plc, has confirmed its latest half-year results with a focus on digital operations and strategic progress in 2017. Rank’s group revenue saw an overall rise of 2% during the period with digital revenue performing strongly with...

Playtech €50m share buyback nears completion

Betting Business Playtech Share Buyback
Just weeks after launching a major share buyback to correct a depressed trading price, Playtech had already re-purchased almost €30m worth of ordinary shares back from investors.   TSE-listed gaming technology provider Playtech has cleared the halfway mark of a share buyback programme worth around €50m, with €28.7m (£24.1m) worth of ordinary shares already purchased back at the time of writing. In...

William Hill buttresses boardroom to drive online alone

Betting Business William Hill
After the sudden departure of its longstanding CEO and the two failed merger attempts that followed, William Hill is breathing life into its online division with a trio of boardroom appointments.   After a tumultuous period for the biggest beast in British betting, governance at William Hill has given its top table a more digital make-over with the appointment of three...

Yggdrasil’s stellar growth spurt continues

Betting Business Yggdrasil Gaming
The formidable force that is Yggdrasil Gaming is no stranger to positive financials. But this third quarter postings give a whole new meaning to the phrase, sharp and sustained growth.   Sweden’s high-end games developer, Yggdrasil Gaming, posted reams of impressive accolades in the three months to September. Top of the list: an enviable 299 percent lift in revenues, making it...

INTRALOT announces aggressive revenue growth during Q3

Betting Business Intralot
The integrated gaming systems provider, INTRALOT, has confirmed positive growth in its Q3 results with substantial revenue secured through new product and service launches.   INTRALOT Group CEO Antonios Kerastaris has made an upbeat statement following the announcement of the 3Q 2016 results. In a press release issued to gaming and financial media, he said: “INTRALOT Q3 was marked by aggressive organic...

Quickspin climb the charts with debut ranking on Sweden’s Deloitte Fast 50

Betting Business Quickspin Daniel Lindberg
The Swedish slot supplier Quickspin has been named among the top 50 tech companies in the country be financial advisor firm, Deloitte.   Quickspin, the specialist slot supplier, has been listed as one of the top 50 tech companies in Sweden on the Deloitte Fast 50 Sweden 2016 list. The list, which is selected by leading financial advisor firm, Deloitte, ranks emerging...

Stride Gaming report show strong growth in 2016 with key acquisitions

Betting Business Stride Gaming
The latest audited financial report for Stride Gaming highlights main areas of growth for the company in line with transformational acquisitions during 2016.   The gaming operator, Stride Gaming, has confirmed considerable growth across its multi-brand company during the 12 months ending August 2016 in its latest financial report. Stride Gaming announced a strong growth up to 22 percent in Net Gaming...

Cherry Interim report shows profitability across brands for 2016

Betting Business Cherry
The latest Cherry Interim Report for Q3 highlights revenue increases across group with significant profits for Game Lounge and Yggdrasil.   The Cherry Interim Report recorded Q3 revenue growth of 39 percent year-on-year to MSEK 214.0 across the Cherry Group which follows revenue increase of 64 percent to MSK583.0 for the first nine months of 2016. Cherry’s latest report, which covers 1...

Paddy Power Betfair positioned for further growth following successful Q3

Betting Business Paddy Power Betfair Financial
Paddy Power Betfair announces Q3 update with strong results across online and sports revenue.   Paddy Power Betfair Plc recorded significant growth during the three month period ending September 30, 2016 (Q3) with particular growth driven by online and sportsbook revenue. The merged businesses announced total revenues up 25 percent with a marked increase in online revenues of 20 percent, including a...

GVC merger with Bwin drives surge in growth

Betting Business GVC
Consolidation with Bwin has led a surge in earnings for SportingBet and FoxyBingo owner the GVC gaming group, leading the company to adjust its annual profit guidance.   According to interim financials published by GVC, the company’s profit more than doubled in the six months ended July 30  – from E21.8m to E51.3m, with a concurrent 8 per cent growth in revenue...

Shares in Scientific soar on growth strategy

Betting Business Scientific
SG’s restructuring announcement goes down a treat with the electronic herd, with shares jumping 22 percent in Wednesday trading.   Global gaming beast, Scientific Games saw its shares rocket over 22% on a heavy trading volume through yesterday as the company mooted a range of growth opportunities in its interactive business including joint ventures, acquisitions and IPO. The Las Vegas-based company, which...

Delaware continues its winning streak with yet another record month in July

Betting Business Delaware
The First State nearly doubled its iGaming earnings in July, compared to same month last year.   Online gambling operators in the state of Delaware had their best month on record in July since the state’s market launch in 2013. The First State’s three online gaming operators managed to earn $281,000 in the 31 days of July – just shy of double...

Intralot registers strong EBITDA growth in Q2

Intralot Group, a major gaming solutions supplier, has seen significant EBITDA growth of 17.1 percent in the second quarter of 2016, thanks in part to high growth in Bulgaria, Turkey and the United States.   For the three months ended 30 June 2016, EBITDA swelled from to €44.4m – up €6.5m on the €37.9 achieved in 2015 – while revenues came...

Coral credits high-value online customers for strong Q3

Betting Business Coral Middlesbrough
Targeted advertising initiatives saw Coral’s online customer base soar in Q3, with executives estimating that new customer value was almost double that achieved at the 2014 World Cup.   UK-based betting giant Coral has seen a surge in revenues in the third quarter of 2016 after a successful online marketing drive and a strong gaming machine performance in retail outlets. For the...

Yggdrasil Gaming’s CEO reports a strong H1

Betting Business Mobile Yggdrasil
Following a solid first half, the Malta-based online and mobile casino games provider hopes to secure several “important revenue drivers” during the remainder of Q3 and into early Q4.   Yggdrasil’s CEO has stated that their entire team can be “very proud” of their progress during the first half of 2016 with the Malta-based online and mobile casino games provider receiving...

888 keeps door open for mergers after H1 profit growth

Betting Business 888 Holdings
888 Holdings has praised the “outstanding momentum” of its online sportsbook and casino operations as pre-tax profits rose by 39 percent in the first half of the year, while CEO Itai Frieberger has insisted the firm is still “open for business” after its failed acquisition bid.   The CEO of 888 Holdings has brushed off a disappointing summer that saw its...

NYX focuses on growth and integration after Q2 acquisition drive

Betting Business NYX Matt Davey
During the second quarter of the year, NYX saw revenues grow by 230 percent year-on-year, as well as completing two major acquisitions in the UK.   Gaming solutions supplier NYX has said it will focus on creating “sustainable revenue” and integrating its newly acquired businesses after a successful Q2 that saw the company’s profits soar. In the three months ended 30 June...

Ladbrokes cites ‘friendly results’ as H1 profits soar

Betting Business, Ladbrokes, profits united challenge omni
In one of the first financial reports under CEO Jim Mullen’s leadership, Ladbrokes posted strong revenue growth across all metrics – but improving profits from a loss-making digital division remains a high priority.   Ladbrokes’ revenues swelled to £661.8m in the first six months of 2016, marking annual growth of 13.6 percent. In one of the first major financial reports since Jim...