Industry News
IGT Reports 2020 First Quarter Results
International Game Technology PLC (IGT) has reported its financial results for Q1 2020.
The Q1 2020 results reflect the impact of global COVID-19 restrictions. Revenue declines were evident in each business segment and across all primary revenue streams.
The consolidated revenue was $940 million, down 18% from the prior year. The company also reported an operating loss of $197 million, down from income of $178 million in the prior year. Adjusted EBITDA was $309 million, down 26% from the prior-year period.
Net debt of $7.17 billion improved 3% from $7.38 billion at 31 December 2019; Net debt leverage of 4.47x, up from 4.31x at 31 December 2019, primarily due to lower EBITDA in the first quarter of 2020.
“After a solid start in the first two months of the year, we quickly shifted our focus to the global COVID-19 health crisis in March. The safety and well-being of our people, customers, and communities have been our highest priority since day one. We implemented robust business continuity plans and maintain service levels at our normal, high standards. I am grateful for the passion and perseverance the entire IGT team has demonstrated during these unprecedented times and I am confident IGT is well positioned to emerge from the crisis a stronger, even more competitive organization,” Marco Sala, CEO of IGT, said.
“We’ve taken swift actions across all non-essential costs and are now switching our focus to structural cost savings initiatives. At the same time, we have adopted strict measures to preserve liquidity in the current environment. Given the uncertainty created by COVID-19, we are withdrawing our previous financial outlook for 2020, but we are confident that with $2.2 billion of liquidity, we are geared with sound financial flexibility to weather the storm caused by the COVID-19 pandemic,” Max Chiara, CFO of IGT, said.
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The highly anticipated Ortak x B.F.T.H. Arena Awards 3.0 has officially entered the public voting phase as submissions are closed.
More than 70 game providers have turned in over 160 submissions, including Tom Horn Gaming, Pragmatic Play and RubyPlay. Public voting involves enthusiasts casting their votes to pick the winner of the Game of Public Choice category.
The Public voting phase ends on December 1st 23:59 GMT+4.
Concurrent to public voting, the first phase of private voting also starts during which all participants who have submitted entries get the chance to vote for one favourite in each category. An international auditing company oversees this phase to eliminate duplicate votes and self-votes. This phase ends on November 19, 23:59 GMT+4.
The second phase of private voting will also take place with a jury of industry experts making their decisions based on the shortlist picked by participants during the first phase.
The post Public Voting Starts for Ortak x B.F.T.H. Arena Awards 3.0 appeared first on European Gaming Industry News.
Industry News
BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets
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Following the frenzy surrounding the 2024 U.S. presidential election, global leading crypto igaming platform BC.GAME has officially announced an exciting airdrop campaign aimed specifically at Polymarket users. This initiative will bring BC.GAMEâs gaming entertainment together with the wisdom of Polymarket users, offering a much-needed opportunity for those who actively participated in the election prediction market.
Airdrop Frenzy Amid the Hype: Special Rewards for Polymarket Users
Following the intense activity during the 2024 U.S. presidential election, Polymarket saw an unprecedented surge in user participation. Thousands of individuals placed bets on the election results, turning this prediction market into a major financial event.
To capitalise on this momentum, BC.GAME is launching an exclusive airdrop for Polymarket users. The campaign will reward active participants with exclusive prizes and access to BC.GAMEâs expansive gaming ecosystem, creating an exciting opportunity for those who took part in one of the most talked-about prediction markets in history.
Exclusive Airdrop: A Chance to Turn the Tide
The BC.GAME airdrop campaign will offer Polymarketâs active users unique rewards, creating an exciting and unparalleled experience in the crypto gaming space. By leveraging the buzz surrounding Polymarket, BC.GAME aims to bring its innovative gaming ecosystem to more users, giving them the opportunity to earn substantial rewards through this airdrop. Polymarket users will not only enjoy exclusive games on the BC.GAME platform, but also have the chance to claim specially designed rewards. The BC.GAME team guarantees a transparent and fair process throughout the event, ensuring that every participant receives maximum benefits.
BC.GAME: Igniting the Future of Crypto Communities
BC.GAME has always been at the forefront of innovation, providing users with a never-before-seen gaming experience. According to data from 1ml .com, BC.GAME is ranked 14th globally in the crypto gaming space and supports hundreds of cryptocurrencies, including Poly, providing users with diverse payment and gaming options.
In addition, BC.GAME actively participates in the development of the crypto community by investing in NFTs and supporting the growth of the metaverse. For example, BC.GAME has invested 700 ETH into various NFT projects to foster growth in the metaverse and iGaming sectors. By engaging with Polymarket users, BC.GAME is lighting up new possibilities in the crypto world and paving the way for the future of digital entertainment.
The post BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets appeared first on European Gaming Industry News.
Kaizen Gaming, one of the biggest GameTech companies in the world, had an impressive double-win at the SBC Awards LatinoamĂ©rica 2024 on the 31st October in Miami, Florida. Awarded âBrazilian Market Entrant of the Yearâ, and âMarketing Campaign of the Yearâ, the two wins follow an impressive year of growth and exposure for Kaizen Gaming, as well as its premium brand Betano, across Latin America and globally.
Betano is rapidly growing its user base and presence in Brazil, serving as the main and title sponsor of BrasileirĂŁo Betano and Copa Betano do Brasil. As a founding member of the ANJL and IBJR regulatory bodies, Betano is recognised for its dedication to upholding the highest standards of responsible gaming and integrity. Furthermore, the Betano brand has launched multiple CSR initiatives across the country in partnership with sponsored team, Clube AtlĂ©tico Mineiro. It also recently launched the âJuntos em Campoâ long-term program in cooperation with CBF (Brazilian Football Confederation) to promote initiatives focused on gender equality.
Awarded for the results and creativity of its innovative âFootball in Americaâ marketing campaign, Betano successfully introduced Latin America to its âConfiaâ brand platform by leveraging on its CONMEBOL Copa America
2024 sponsorship. The campaign chimed with the spirit of fans across the continent by celebrating Latin Americaâs rich football heritage, playfully responding to Kylian Mbappeâs 2022 comments questioning the regionâs football quality.
Vangelis Skarkalis, Kaizen Gaming Senior Commercial Director LATAM, said: âLatin America is one of the worldâs most dynamic and exciting regions for i-gaming. Being recognised as a leading player in this important market with two wins at the prestigious SBC Awards LatinoamĂ©rica is a great honour â especially on the heels of our recent double-win as âOperator of the Yearâ at both the EGR Operator Awards and SBC Awards. Achieving this success requires an exceptional team of dedicated, ambitious professionals. This award honours everyoneâs hard work and commitment to always going above and beyond in delivering the best experiences for our customers not only in Latin America, but worldwide too.â
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