Industry News
Newgioco Releases Update on Coronavirus Impact
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Newgioco Group, the global sports betting and interactive gaming technology company, has provided an update on the impact of Coronavirus on its operations.
On March 8, the Italian government imposed restrictions on public gatherings and travel until April 3. So, the company temporarily closed approximately 150 betting shop locations throughout Italy.
On March 10, the government imposed further restrictions on travel throughout Italy, as well as transborder crossings.
The closing of physical locations does not affect the Companyâs online and mobile business operations; however, most professional sports events have been either postponed or cancelled which may have an effect on the companyâs overall sports betting handle and revenues.
The impact, extent and duration of the government-imposed restrictions on travel, public gatherings and sports events, as well as the overall effect of the COVID-19 virus, is presently unknown.
âWe are closely monitoring the active circumstances and the impact of COVID-19 on our product demand and business. Our priority is protecting our employees, supporting our customers and providing timely information to our investors and stockholders. Along with our management teams in Italy and Austria, we remain in close contact with local and national health authorities and have implemented notification and prevention procedures at our administration offices and physical locations. Also, the Company is pro-actively taking the health and safety of our employees very seriously by implementing smart-work initiatives by encouraging, when and where possible, work from home options,â Michele Ciavarella, Chairman and CEO of Newgioco said.
âAlthough we have been directly affected by government directives to close all non-essential public gathering venues, which includes all betting shops and bingo halls throughout Italy, the Company has recently taken significant steps to expand our global distribution in over 13 countries and have diversified our product offerings as well as fostering the omni-channel features of our Elys betting platform. While uncertainty remains around our ability to implement cost containment, the severity and pace of recovery strategies on our business and the market price of our common stock following the COVID-19 outbreak, our long-term fundamentals remain strong. We are continuing with planned investments, particularly in developing our U.S. betting platform and products to drive long-term growth and profitability for our shareholders,â Ciavarella added.
Industry News
IGT Achieves Improved ESG Score from FTSE Russell
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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russellâs ESG Scores. This was an improvement from IGTâs previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.
âAs a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,â Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.
FTSE Russellâs ESG Scores and data model allows investors to understand a companyâs exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each companyâs unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russellâs ESG framework.
The post IGT Achieves Improved ESG Score from FTSE Russell appeared first on European Gaming Industry News.
Industry News
Super Group Appoints Merrick Wolman to its Board of Directors
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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.
Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.
Neal Menashe, Chief Executive Officer of Super Group, said: âWe are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.â
This appointment brings the total directors on Super Groupâs board to nine, including five independent directors.
The post Super Group Appoints Merrick Wolman to its Board of Directors appeared first on European Gaming Industry News.
Industry News
Kindred Reports Decline in Revenue from High-risk Players for Q4 2024
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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindredâs broader commitment to maintaining high regulatory standards and fostering safer gambling practices.
âIt is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,â Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.
âThe increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,â Esther Scheepers added.
The post Kindred Reports Decline in Revenue from High-risk Players for Q4 2024 appeared first on European Gaming Industry News.
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