Industry News
Holland Casino Expects Gains in H2 2021
Holland Casino is preparing for recovery after a rough first half of the year, having been forced to close for more than 5 months due to measures taken against the COVID-19 pandemic.
As anticipated by the Dutch state-owned company, the extended closure had a negative impact on its financial results for the first half of the year. But as its 14 branches have been operating again since June 5, the operator now expects to post positive results for the second half of 2021.
Turnover achieved in June shows that Holland Casino will soon be able “to operate in a healthy manner” again. Moreover, after having completed “necessary restructuring,” the company expects to become a more efficient and agile organisation, according to a press statement released on Wednesday.
Turnover for H1 2021 posted a low €28.8 million. Net results for tax purposes amounted to a loss of €64.8 million, compared to a loss of €37.8 million over the same period in 2020, in which the company remained open for several months.
“Although Coronavirus also hit our company head-on in the first half of 2021, notably our anniversary year in which we celebrate 45 years in business, we still look ahead with confidence. All in all, Netherlands was deprived of legal casino offer for almost a year, but now that the measures are disappearing little by little, recovery is in sight,” Erwin van Lambaart, CEO of Holland Casino, said.
“We see bright spots in the potential offer of online games of chance as of October 1, for which we have applied for a license, and the opening of our new world-class casino branches in Venlo and Utrecht,” van Lambaart added.
CFO Ruud Bergervoet considers that having sufficient liquid assets in the past six months was key to the company getting through the difficult period of closure. That, along with the NOW scheme, the deferral of tax payments, strict cost control measures and tight operation management, led to the company being able “to safeguard the continuity” of its operations over the past year and a half.
“The significant tax debt of €190.5 million is offset by a strong liquidity position without bank debt. We are therefore considering paying off this tax debt more quickly if no new Coronavirus measures are introduced and the recovery actually continues. The results after June are promising in that regard,” Bergervoet said.
Despite all branches now being open, certain pandemic measures are still being enforced, and Holland Casino is receiving guests at limited capacity in its gambling venues. The company expects that these measures will be phased out, with the hope to open at full capacity and without restrictions “towards autumn.”
“We are also looking forward to the reintroduction of poker, live bingo and our NXT zones so that gaming can really be experienced together again. We also hope to be able to offer our bars and restaurants after midnight, which currently all close at midnight,” van Lambaart said.
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Trustly announced a bold pledge to boost growth for businesses across Europe. In a major move to revolutionise the checkout experience for millions of people, the payments tech firm unveils the new Trustly Growth Guarantee.
The market-leading account-to-account provider is offering clients – current and new – a fresh way to pay at the checkout. As part of this, businesses are guaranteed to see an increase in conversion rates, to as high as 98.8%, and a clear reduction in the fees they pay in comparison with traditional payment methods.
Customers will enjoy fewer steps to pay and the added efficiency of return user recognition; Trustly guarantees supercharged success at the checkout. With predictable pricing, costs will be just one amount per transaction – with no variable fees at all. Trustly also states that it is dedicated to providing a seamless integration and will include Success Concierge as standard.
The initiative, revealed only a matter of days after impressive 2023 growth results were announced for the global leader in the industry, reflects Trustly’s unwavering confidence and commitment to continuing to innovate account-to-account payments. Last week, Trustly announced a 79% increase YoY in annual transaction value – reaching $58 billion in total.
Its track record for already attracting major global clients – some examples being Meta, eBay, HMRC, Zalando and Hargreaves Lansdown – signifies that there’s been a distinct change in customer preference and merchants priorities.
Businesses are making attempts to remain innovative and ahead of the curve as millions of consumers increasingly adopt open banking-enabled account-to-account solutions instead of other more standard options when they pay.
Jussi Lindberg, Chief Revenue Officer of Trustly Europe, said: “Our market-leading payment setup embodies Trustly’s mission: to be a growth partner for our clients. We don’t just provide payment solutions; we drive efficiency and value in their businesses. Trustly Azura has delivered remarkable results, and now businesses can experience its benefits. Account-to-account payments are booming, and we’re here to help businesses seize the opportunities it offers.”
If merchants do not see a boost in conversion or a drop in payment costs – at a processing rate of at least 50K transactions each month, for three months, Trustly will reimburse three months’ worth of processing fees. The guarantee is available for both new and existing European customers and is subject to Trustly’s general terms & conditions.
The post Trustly Announces Major Move to Guarantee Growth for Businesses Across Europe appeared first on European Gaming Industry News.
Kutt, the leading social betting platform, announced that it closed the first quarter of 2024 with a successful fundraise of over $1 million and that it has surpassed the 10,000 user mark. The company also commissioned a study of 1000 bettors that clearly defines what social betting is and what users want — further cementing its ownership of the space.
“Betting has been a social activity for thousands of years, so it’s no surprise that consumers want the ability to facilitate and track wagers against their friends. If anything, bettors unquestionably prefer a more curated, social experience — they want to be part of a wider community and to be part of the conversation around sports, entertainment, and important events,” Sim Harmon, CEO and founder of Kutt, said.
While sports betting has boomed across the country since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, established gambling companies have largely stuck to the tried-and-true format sportsbooks have been using for decades — traditional sports bets against the house. But consumer desire to experience more has increased as the betting industry has matured, with 82% of bettors interested in wagering directly against their friends and other individuals through a decentralized platform, according to Kutt’s recently commissioned survey.
The survey found that, in addition to Kutt’s traditional offerings, an overwhelming majority of bettors (80%) are interested in wagering on non-sporting events, with 77% wanting to bet on entertainment, 62% interested in wagering on politics, and 60% with a desire to bet on life events. Kutt allows users to wager with friends on any event with publicly verifiable results, making it the ultimate “put your money where your mouth is” destination for fans. The survey also shed light on some compelling aspects and trends among current bettors, including:
- A higher percentage of bettors surveyed placed a wager with a friend in the past year (61%) vs. a sportsbook (60%)
- More than half of U.S. bettors (54%) have betting group chats with friends
- A majority of U.S. bettors (60%) text their friends about the progress of a bet while watching a game.
Adding further validity to the findings of the survey and the demand for a real-money social betting experience is Kutt’s recent $1 million+ institutional fundraise, led by Lightning Capital, a firm that invests in digital assets and online communities. The investment will fuel initiatives aimed at growing the Kutt community, enhancing user experiences, and expanding betting markets.
“We look for emerging companies in high-growth industries to invest in. Kutt’s enthusiastic user base, rapidly growing partnership portfolio, and their differentiated product offering were very attractive to us. We are eager to help them continue to define and own the social betting space,” Jock Percy, General Partner at Lightning Capital, said.
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences is set to make the most of the networking and relationship-building opportunities at Casino Beats Summit 2024 and share its groundbreaking Online gaining™ approach.
Leading a formidable team of Wazdan talent will be Chief Commercial Officer Andrzej Hyla. Joining him in Malta is Promo Tools Specialist Marcin Trafiałek, who has been nominated for the prestigious Product Manager of the Year award at the CasinoBeats Game Developer Awards 2024.
Trafiałek’s nomination recognises his pivotal role in the triumphant success of the Mystery Drop™ promo tool. Additional representatives from Wazdan’s Account Management and Marketing departments will also be on hand, eager to connect and share the latest Wazdan innovations.
Wazdan’s commitment to excellence is further underscored by its multiple nominations at the CasinoBeats Game Developer Awards 2024. The company’s exciting new titles and features are vying for top honours in various categories, including:
- Slot to Watch: 25 Coins™
- Game Mechanic of the Year: Coins™ series
- Game Feature of the Year: Coins™ series
- Game Music/Soundtrack: Book of Faith™
- Game Music/Soundtrack: Los Muertos™ II
- Game Retro-Style: Mighty Symbols™: Crowns
As a proud sponsor of CasinoBeats Summit 2024, Wazdan reaffirms its dedication to fostering a vibrant iGaming community and actively participating in industry-shaping events. The company looks forward to setting a course for success and collaboration at the summit.
Andrzej Hyla, Chief Commercial Officer at Wazdan said: “Casino Beats Summits are always fantastic events. This year sees us in the enviable position of being shortlisted for six awards which reflects the hard work our team of engineers and inventors have put into the experiences that add value for demanding players.
“We’re looking forward to meeting friends old and new at the event and sharing how we gain ground and ground gain.”
The post Wazdan set to gain more ground at Casino Beats Summit Malta appeared first on European Gaming Industry News.
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