Industry News
NetEnt Releases Interim Report for January–March 2020
Casino content developer NetEnt has released its interim report for January–March 2020.
NetEnt reported a 23.9% year-on-year increase in revenue during the first quarter. Revenue for the three months through to 31 March 2020 totalled SEK518.0m, up from SEK418m in the corresponding period last year.
NetEnt slot games were responsible for 90% of all gaming revenue during Q1, compared to 10% from table games. Meanwhile, the UK was its single biggest market, contributing 19% to total revenue, ahead of the Nordic region on 18%.
Comments by Therese Hillman, Group CEO:
“The pandemic outbreak of covid-19 has put the world in an exceptional situation, leaving nobody unaffected. The health and safety of our employees has the highest priority in the NetEnt Group, while we continue to work hard to secure a good development for the Company both in the shorter and longer term. It is difficult to predict the effects of the covid 19-situation on the economy in general and our sector in particular, but we believe that the underlying trend of digitalization in gaming will continue and offer growth opportunities for NetEnt in the future. So far, the financial performance of our business has not been negatively affected by the outbreak of covid-19.
Revenues for the first quarter of the year amounted to SEK 518 (418) million, supported by a strong finish in March and a weaker Swedish krona. On a proforma basis (including Red Tiger in the previous year’s figures), the Group’s total gaming revenues increased by 12 percent in euro compared to the same period in 2019. Most of the growth came from the US and the UK, while developments in Sweden and Norway continued to be negative. Locally regulated markets accounted for 50 percent of Group gaming revenus in the quarter. The largest locally regulated markets for the Group were UK (19 percent of gaming revenues), Italy (8 percent) and USA (7 percent). Sweden accounted for only 6 percent of gaming revenues, which is significantly lower than before the re-regulation of the Swedish market.
To further strengthen competitiveness and increase efficiency, we implemented organizational changes and initiated a full integration with Red Tiger during the quarter. The changes lead to a reduction in the workforce by approximately 120 employees, mainly in Stockholm, and are expected to result in cost savings of SEK 150 million starting in the second half of 2020. This means that we are increasing our estimate of potential synergies from the acquisition to around SEK 250 million annually, including revenue synergies.
Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to SEK 229 (196) million in the quarter, corresponding to a margin of 44.2 (47.0) procent. Earnings were negatively affected by SEK 26 million of restructuring costs related to the integration with Red Tiger.
Red Tiger keeps performing above our expectations with its award-winning games and the expansion to new markets continues. During the quarter, Red Tiger games were launched with customers on the regulated markets in Italy and Slovakia, and with large operators like Svenska Spel in Sweden and Sky in the UK.
Within Live Casino we continue our efforts to strengthen the product. For instance, we increased the number of tables in our studio on Malta and upgraded the user interface for mobile gaming in the quarter. We have had new record levels in the number of players every month since December and we see increasing interest for the product by operators and players.
A strong product pipeline, new regulated market entries and the Live Casino opportunity for NetEnt – combined with Red Tiger’s expansion – puts us in a good position to continue delivering profitable growth in 2020.”
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game studios
Evoplay rolls out Season of Legends campaign with €512,000 spring prize pool
Evoplay has launched Season of Legends, a year-long network campaign built around four seasonal phases, starting with a spring edition carrying a €512,000 prize pool. The spring phase launched in March and runs across March, April and May.
The studio said the new format follows its previous Big Adventures network campaign and is designed to drive sustained engagement through a more structured seasonal approach. Each season runs for three months with new mechanics and prize pools.
A new mechanic, Infinity Prize Drops, will run daily throughout each month and is not tied to tournament windows. The spring edition also includes a Tournament and Wheel of Fortune, each operating in four monthly phases: 1st- 5th, 9th- 13th, 17th- 21st, and 25th- 29th.
Evoplay said the €512,000 spring prize pool will be distributed across the three-month period via a consolidated leaderboard spanning participating operators. Players earn points through qualifying spins on selected Evoplay titles including Hot Triple Sevens, Piggy Bank: 3 Pots Bonanza, and the Penalty Shoot-out series.
Diana Larina, Head of Marketing at Evoplay, said: “Season of Legends marks the next evolution of our network campaigns. With Big Adventures, we saw just how effective long-term engagement can be, and this new format takes that even further.
“By introducing seasonal structure and mechanics like Infinity Drops, we’re giving operators the tools to maintain consistent player activity, rather than relying on short-term spikes. This is just the beginning, and we’re excited to build momentum throughout the year.”
The post Evoplay rolls out Season of Legends campaign with €512,000 spring prize pool appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
executive-moves
Swintt appoints Etienne Azzopardi as Managing Director
Swintt has appointed Etienne Azzopardi as Managing Director, confirming its former COO in the permanent role after a three-month interim period that began in January. The move follows the departure of outgoing CEO David Mann, as the company continues a wider strategic restructure.
Swintt said Azzopardi will lead product strategy, future market expansion and team development. During his interim term, the company said it released 12 titles, including three games under its Elysium Studios label.
The supplier also pointed to two partnership deals signed during the same period: NetBet adding Swintt content for Greece, and SkillOnNet taking Select, Premium and Elysium Studios games across its .com, UK and MX brands.
Looking ahead, Swintt said it plans to maintain monthly content output and pursue further growth in regulated jurisdictions. The company added that Switzerland is scheduled to be its next major market target in 2026.
Etienne Azzopardi, Managing Director at Swintt, said: “I’m delighted to have been appointed Managing Director at Swintt. Since joining the company in 2021, I’ve had a hand in everything from operational management and roadmap optimisation to market licensing and game certification, and the experience I’ve picked up in those four and a half years will prove crucial in my new role.
Having spent three months acting as Interim Managing Director, I feel very privileged to be taking the role on a permanent basis and believe this will be the catalyst for Swintt to continue its outstanding recent growth in regulated markets worldwide. With a packed product roadmap already planned for 2026, it’s going to be an amazing journey and I’m excited to continue growing the Swintt brand.”
The post Swintt appoints Etienne Azzopardi as Managing Director appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Free spins
3 Oaks Gaming adds Flexible Free Spins to its promo tools
3 Oaks Gaming has added a new bonus mechanic, Flexible Free Spins, to its promotional tools offering, the company said.
The feature allocates free spins based on a total value rather than a fixed number of spins at a set stake. Players can then select how to use the award from up to 20 options, choosing between different combinations of bet size and spin count while staying within the same budget.
3 Oaks Gaming said each option is mathematically pre-calculated to remain within the defined value. When the award is issued, players see a modal pop-up with the available choices, with the default selection set to the median option.
Anna Nozdran, Acting Product Owner at 3 Oaks Gaming, said: “Flexible Free Spins deliver a fresh take on the traditional bonus setup within an online slot, providing players with greater control over their gameplay experience that suits their preferences.
“Every option is pre-calculated within the same budget, ensuring consistency for operators while offering a more dynamic experience for players. We firmly believe this new addition will complement the existing 3 Oaks Gaming portfolio and deliver greater value for our partners.”
The post 3 Oaks Gaming adds Flexible Free Spins to its promo tools appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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