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NetEnt Releases Interim Report for January–March 2020

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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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AGEM Announces Board Of Directors Elected at 2026 Annual Meeting

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The Association of Gaming Equipment Manufacturers (AGEM) announced that its membership elected a new Board of Directors at its 2026 Annual Meeting. AGEM Board Chair Ryan Comstock, Acting Chief Executive Officer at Ainsworth Game Technology, was not up for election as he transitions into the second year of his two-year term as Chair and led the meeting which approved one-year terms on the Board of Directors for:

• Elaine Hodgson, DIRECTOR (President / CEO, Incredible Technologies)

• Lauralyn Sandoval, DIRECTOR (Vice President of Gaming Strategy & Business Development, Aristocrat Gaming)

• Phil O’Shaughnessy, DIRECTOR (Vice President, Global Communications, Government Relations & Sustainability, IGT)

• Steve DiMasi, DIRECTOR (Senior Vice President of Global Government Affairs & Business Development, Light & Wonder)

• Randy Gilbert, SECRETARY (Chief Executive Officer, TableTrac)

• Thomas Jingoli, TREASURER (President & Chief Operating Officer, Konami Gaming).

The AGEM Board of Directors also approved one-year terms as ex-officio/non-voting members on the Board of Directors for:

• Cassie Stratford, EX-OFFICIO DIRECTOR (Senior Vice President, Legal Operations & Compliance–Boyd Gaming Corporation; Global Gaming Women Advisory Board Member)

• Bob Parente, EX-OFFICIO DIRECTOR & ASSISTANT TREASURER (Executive Vice President & Chief Business Development Officer, Light & Wonder).

The post AGEM Announces Board Of Directors Elected at 2026 Annual Meeting appeared first on Americas iGaming & Sports Betting News.

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QTech Games recruits banking and AI leader Jonny Youssef as CTO to drive next phase of its growth journey

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QTech Games, the leading game aggregator for emerging markets, has appointed Jonny Youssef as Chief Technology Officer (CTO) to lead the next phase of the company’s technology organisation, innovation and technology strategy as QTech accelerates its global expansion. Jonny will lead the continued development of QTech’s platform architecture and engineering organisation, focusing on scalability, AI-driven capabilities and next-generation tools designed to support operators and content partners across fast-growing markets. Jonny brings more than 20 years of technology leadership experience across banking, fintech, SaaS platforms and AI-driven innovation. His background combines enterprise-scale infrastructure expertise with hands-on experience building and scaling digital platforms and emerging technology systems. Previously, Jonny served as Head of Innovation for Swedbank Group Lending & Payments, where he led digital initiatives across lending, payments, APIs and digital channels within one of the Nordic region’s largest banking groups. He has also held senior technology leadership roles at Entercard Group, overseeing technology infrastructure and mission-critical production environments supporting large-scale payment operations across Nordic markets. Alongside his enterprise leadership experience, Jonny has founded and scaled several technology ventures and digital platforms. As a technology founder and CTO, he has led the design and development of international platforms operating across Europe and Asia, building distributed engineering teams and scalable digital infrastructure.

In recent years, Jonny has contributed to the development of next-generation AI and sustainability technology initiatives, including work with Circular Living and Biotonomy, where advanced AI, IoT and Edge AI systems are used to power intelligent environments, autonomous infrastructure and real-time operational insights. Beyond his commercial initiatives, he is also a board member and early contributor to The AI Community of Sweden, a national innovation network connecting professionals, enterprises and academia to collaborate on AI innovation. At QTech Games, Jonny will focus on strengthening the company’s technology foundations as it continues to scale globally, enhancing AI-driven functionality, automation and analytics capabilities that enable partners to unlock greater value from the platform. He will also oversee QTech’s engineering and technology teams to ensure continued innovation while maintaining the speed, reliability and integration flexibility that have become hallmarks of QTech’s aggregation platform.

QTech Games’ CEO, Philip Doftvik, said: “We’re delighted to welcome Jonny to QTech at an important moment in our growth journey.

“He brings a rare combination of enterprise technology leadership, platform-building expertise and forward-looking innovation in AI and automation. His experience across banking infrastructure, global digital platforms and emerging technology ecosystems makes him uniquely positioned to guide us through its next phase of technological evolution.

“As we continue to expand across emerging markets, Jonny’s leadership will help ensure we remain at the forefront of innovation — delivering scalable infrastructure, AI-driven insights and powerful technology solutions that help our partners grow.”

Jonny Youssef added: “QTech Games has built a strong reputation as one of the most innovative and reliable aggregation platforms serving emerging markets.

“What impressed me most is the company’s focus on speed, simplicity and partner success — combined with a clear ambition to continue evolving the platform through technology. I’m excited to join the team at a time when AI, automation and data-driven capabilities are creating new opportunities to deliver even greater value to operators and game providers.

“My focus will be on strengthening the platform architecture, scaling our technology capabilities with AI and supporting the next phase of QTech’s growth.”

The post QTech Games recruits banking and AI leader Jonny Youssef as CTO to drive next phase of its growth journey appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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GameOn Expands Fractional CMO Division with Appointment of Roxana Nazalu

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GameOn, the specialist iGaming marketing and PR agency, has added Roxana Nazalu to its growing GameOn CMO team.

Roxana joins as a Fractional CMO and in a consulting capacity. She will be responsible for supporting clients across campaign strategy, creation and implementation.

Roxana is one of the most experienced iGaming marketers in the industry, having worked for some of the biggest names in the business.

This includes the likes of Las Vegas Sands, Casimba Gaming, Aspire Global and Pragmatic Play.

This experience led her to launch Orange Synapse, a specialist agency serving iGaming providers in markets across the world.

Roxana’s appointment as a Fractional CMO Consultant marks a deeper collaboration between GameOn and Orange Synapse, allowing each to offer a wider range of products and services to its respective clients.

GameOn’s Fractional CMO service has gone from strength to strength since launching back in October 2024.

Led by Alex Wilson, it allows clients to unlock the benefits of a full-time CMO but on a fractional basis, making it the perfect option for start-ups and smaller organisations in growth phase. It’s also a great option for established organisations, allowing them to embrace marketing as a revenue engine and not just a support function, but with board-level accountability.

Alex WilsonHead of Marketing Division at GameOn, said: “We are delighted to welcome Roxana to the GameOn CMO team at such a pivotal moment for our agency. Since launching our fractional service in 2024, the demand for high-level strategic leadership, without the overhead of a full-time executive, has exploded. 

“Roxana is a powerhouse in the iGaming space and her track record with global giants like Pragmatic Play and Las Vegas Sands speaks for itself. 

“By bringing her expertise into the fold, we’re not just adding a consultant, we’re significantly deepening our strategic offering and ensuring our clients have access to the very best marketing minds in the business.”

Roxana NazaluFractional CMO Consultant at GameOn, added: “Joining forces with GameOn is a natural evolution for me and a fantastic opportunity for Orange Synapse.

“I’ve always admired GameOn’s reputation for delivering clear, results-driven PR and marketing within the iGaming sector. This collaboration allows us to offer a truly holistic service, bridging the gap between high-level strategy and technical implementation for slot studios, operators, affiliates, payment providers and other industry stakeholders. 

“My focus will be on helping clients navigate complex markets and scale their brands with the agility that the fractional model provides. I look forward to working alongside Alex and the team to drive meaningful growth for our partners.”

The post GameOn Expands Fractional CMO Division with Appointment of Roxana Nazalu appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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