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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Industry News
Wazdan schedules three-stage Network Promotion campaign for summer
The operator-facing series runs 29 June to 13 September and uses Mystery Drop and Mystery Multiplier Drop mechanics.
Wazdan will launch a summer-long Network Promotion series for partner casinos, running from 29th June to 13th September. The campaign is structured in three stages with breaks between each phase.
The promotion will use Wazdan’s Mystery Drop
and Mystery Multiplier
Drop mechanics. The supplier said the programme is designed to be easy for operators to activate and will be supported with marketing materials, including promotional assets, brochures and newsletter content for partners to use across their own channels.
Alongside the promotion, Wazdan has a summer content roadmap with three slot releases scheduled: Mighty Hot
: Amazonia (30th June), Magic Fruit$: Cherries (30th July) and Mighty Crown
: Empire of Gold (6th August).
Radka Bacheva, Head of Sales and Business Development at Wazdan, said: “Summer presents a valuable opportunity for operators to keep engagement levels high, and this promotion has been designed to deliver exactly that through Wazdan’s proven promotional tools.
“Combined with our upcoming game releases, we are excited to offer partners a strong seasonal campaign with plenty of player appeal.”
The post Wazdan schedules three-stage Network Promotion campaign for summer appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Casino Content
ICONIC21 launches Football Cup-branded casino games and debut network tournament
ICONIC21 has rolled out three limited-edition Football Cup-branded casino games and launched its first network tournament, ICONIC Showdown Football Cup, running from 9th of July to 19th of July.
The new titles are Football Cup Roulette, Football Cup Blackjack 360, and Football Cup Gravity Blackjack. ICONIC21 said the releases showcase different customisation approaches, including green screen production for the roulette environment and an updated visual rebrand for its RNG blackjack table.
For Football Cup Gravity Blackjack, ICONIC21 said it used its latest LED technology and applied the Gravity Series multiplier mechanic, with a custom felt, a football gate, and bespoke 3D-printed decorations.
Alongside the three new games, ICONIC21 pointed to its previously launched slot Soccer World Championship, plus The Kickoff and Top Card, which it said received football-season branding and UI/UX updates.
The ICONIC Showdown Football Cup tournament covers 11 games in total and is positioned around the quarter finals, semi-finals and final period. ICONIC21 said 1,000 winners will share a €50,000 prize pool, and operators can enroll via their account manager or by contacting the company directly.
Edvardas Sadovskis, Chief Product Officer at ICONIC21, said:
“What I’m most proud of with this project is the turnaround. We built three fully branded, technically distinct games, enhanced existing ones with promotional branding, and launched our first-ever network tournament around them, all timed to coincide with peak player interest and traffic.
That kind of speed doesn’t happen by accident, it reflects how this team works. ICONIC Showdown is a meaningful first step for us as a provider, and launching it during the Football Cup, with this much energy around the game, feels like the right way to do it. We’re genuinely excited to see how the leaderboard shapes up and even more excited for the finals.”
The post ICONIC21 launches Football Cup-branded casino games and debut network tournament appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Brand Ambassador
Ronaldinho visits CreedRoomz Yerevan studio to front Marble Cup and Kickoff Roulette
CreedRoomz has brought footballer Ronaldinho to its headquarters in Yerevan, where the company filmed an “exclusive interview” with the former player in connection with two new live casino game shows, Marble Cup and Kickoff Roulette. CreedRoomz said Ronaldinho is the global ambassador for both titles.
In the interview, Ronaldinho said: “For me, it’s a great joy to be a part of this partnership. Since arriving here at the office, everyone has treated me with great affection. I already feel at home, very happy.” Asked to choose between the two games, he added: “Honestly, it’s difficult to choose one, both are wonderful, I loved them, so it’s very difficult to choose one, I think everyone will really like them, I think the whole world will really enjoy them.”
Ronaldinho also described his first impressions of the studio and gameplay: “I was surprised and very happy, everything is very beautiful, everything is very innovative, so I believe that’s why everyone will really like them, so I’m looking forward to everyone starting to enjoy them a lot.”
On why CreedRoomz expects the titles to gain traction, he said: “These are different games. I think that will attract attention, the fact that football is a global passion also helps, so I believe everyone will like it for those reasons.. and for the innovation of everything that is happening.”
CreedRoomz linked the interview to upcoming “World Cup and R10 Tournaments,” with Ronaldinho closing by telling fans: “A message of gratitude for the continued affection. I’m very happy and excited. for the next competitions for the next games, the games are all ready, I hope everyone enjoys them and everyone be very happy and have good times together.”
The post Ronaldinho visits CreedRoomz Yerevan studio to front Marble Cup and Kickoff Roulette appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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