Connect with us

Industry News

Catena Media Reports Strong Growth in Q3

Published

on

Reading Time: 2 minutes

 

Catena Media has announced the preliminary results for the third quarter ahead of the interim report to be published on November 17.

The company reports strong growth in revenue and adjusted EBITDA fuelled by an exceptionally strong US performance, along with an impairment charge arising from a writedown of German and French sports assets.

Revenue in Q3 is estimated at EUR 33.1m (24.9m), up 33% from the same period last year. Revenue from North American iGaming increased by approximately 124% and accounted for 51% of group revenue during the quarter.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Organic growth is estimated at 23%, or 34% excluding the now-regulated German iGaming market, where revenue fell approximately 62% and accounted for 4% of group revenue during the quarter.

Adjusted EBITDA, excluding items affecting comparability, is estimated at EUR 16.0m (12.0m), an increase of 33% and corresponding to a margin of 48%.

Operating profit will be negatively impacted by a non-cash impairment of intangible assets in accordance with IAS 36, resulting in an estimated writedown of EUR 49.4m. EUR 42.8m of the writedown pertains to German sports assets acquired between 2016 and 2018. EUR 6.6m relates to French sports assets acquired in 2018.

The writedown and consequent impairment charge reflect an updated assessment by management of the assets’ expected future earnings in the context of recent regulatory changes in Germany’s iGaming market and overall market conditions. Management regularly assesses expected future earnings in accordance with IAS 36 and may further adjust assets’ amortisation plans. The writedown will have no impact on cash flow.

Catena Media CEO Michael Daly said: “Q3 was an exceptional quarter with September revenue breaking our monthly all-time high. This was the result of our strategic investment in organic development, particularly in North America, and was supported by two recent acquisitions in the United States and the opening of the iGaming market in Arizona. The impairment charge adjusts our European business to new market realities following a review by the management team and our focus on transforming the business to reach maximum potential.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Powered by WPeMatico

Continue Reading
Advertisement

Industry News

TipRanks to Become Official Sponsor of 5-Time U.S. Chess Champion Hikaru Nakamura

Published

on

tipranks-to-become-official-sponsor-of-5-time-us.-chess-champion-hikaru-nakamura
Reading Time: < 1 minute

 

TipRanks, a leading financial research platform with more than 9 million monthly active users, has announced a strategic sponsorship with Grandmaster Hikaru Nakamura, a 5-time US Chess Champion who is currently ranked 2nd in the world. Powered by a new set of AI tools, the partnership is designed to help investors make better, data-driven decisions through the combination of TipRanks’ cutting-edge tools and Nakamura’s strategic mindset.

As part of the partnership, Nakamura will create and manage a Stream Portfolio on TipRanks. Viewers and fans of Hikaru will be able to track his investment research in real time on his widely followed video channels and social media — plus share ideas in the stream chat to help shape the portfolio’s holdings. Working with TipRanks’ award-winning platform, Nakamura will showcase how he evaluates opportunities, while emphasizing that all content is for educational purposes only and does not constitute investment advice.

Nakamura’s dominance in chess stems from his ability to absorb vast amounts of information, analyze multiple outcomes and make decisive moves under pressure—skills that closely mirror successful investing.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“TipRanks offers a wide variety of insights on thousands of stocks and equities, helping me to think strategically about all of my investments. Just like in chess, beating the market depends on making wise, fully informed decisions. Harnessing data to think several moves ahead is second nature to me,” said Nakamura.

“While other investing websites might sponsor more popular spectator sports such as soccer, our partnership with a chess champion is pitch perfect. We are tailor-made for investors who seek to act strategically, just like Hikaru does,” said Uri Gruenbaum, Founder and CEO of TipRanks.

The post TipRanks to Become Official Sponsor of 5-Time U.S. Chess Champion Hikaru Nakamura appeared first on European Gaming Industry News.

Continue Reading

Industry News

PENN Entertainment Celebrates Grand Opening of Hollywood Casino Joliet

Published

on

penn-entertainment-celebrates-grand-opening-of-hollywood-casino-joliet
Reading Time: 2 minutes

 

PENN Entertainment has officially opened the doors of its new Hollywood Casino Joliet on Monday, August 11.

The $185 million state-of-the-art casino replaces the former riverboat property that operated on the shores of the Des Plaines River since 1992.

Legislators and area dignitaries, Illinois Gaming Board officials, Chicago Bears executives and NFL legend and Joliet native Tom Thayer joined the PENN team members for the ribbon-cutting ceremony. Hollywood Casino Joliet then opened to the public at 4:00 p.m. and welcomed guests to experience approximately 1000 of the newest slot machines, 43 table games, a retail ESPN BET sportsbook, upscale national and Chicagoland celebrity-led dining and, above all, a premier guest experience.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We would like to officially welcome players and guests to the all-new Hollywood Casino Joliet. After approximately 20 months of construction, we are thrilled to open the doors to this land-based entertainment destination. We are proud of our 30-year history in Will County and are committed to continuing our investment in the community by creating new jobs, providing important tax revenue, and serving as a new attraction to bring even more visitors to the area,” said Jay Snowden, CEO and President of PENN Entertainment.

“This opening marks an exciting new era of entertainment in Joliet. We’re grateful for the support from the city of Joliet, the Illinois Gaming Board, and our business and community partners who contributed to the successful development of this new property. We look forward to delivering an elevated experience with world class dining, entertainment, and gaming options for patrons across the region,” said Todd George, Executive Vice President of Operations for PENN.

The roughly 189,000 square foot entertainment destination employs approximately 600 team members and generated around 450 construction jobs. Open seven days a week and 24 hours a day, the fun and excitement will continue 365 days a year.

The post PENN Entertainment Celebrates Grand Opening of Hollywood Casino Joliet appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Gambling in the USA

Gaming Americas Weekly Roundup – August 4-10

Published

on

gaming-americas-weekly-roundup-–-august-4-10
Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

SA Gaming has announced that its game portfolio and Remote Gaming Server have officially obtained Gaming Laboratories International certifications in Brazil. This milestone underscores SA Gaming’s commitment to delivering premium gaming experiences, with a particular focus on the Brazilian market. The regulated Brazilian online gaming market, which launched on January 1, 2025, is projected to become the largest in Latin America. Under the new framework, only licensed operators are legally permitted to offer online gaming and betting services.

The National Indian Gaming Commission announced Gross Gaming Revenues of $43.9B for fiscal year 2024. This historic figure reflects a $2.0 billion increase over FY 2023, representing an overall growth of 4.6% across the Indian gaming industry. The GGR figure is calculated from independently audited financial statements from 532 independently audited gaming operations owned by 243 federally recognised tribes across 29 states. Two NIGC regions, Oklahoma City and Washington, D.C., reported double-digit growth over the previous fiscal year.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The Michigan Gaming Control Board has issued cease-and-desist letters to six unlicensed online gambling platforms attempting to target Michigan residents without state authorisation. The action underscores the MGCB’s relentless, ongoing efforts to shut down illegal gambling operations and protect Michigan consumers from financial risk, identity theft and unfair play. The targeted sites—Crypto Slots, NitroBetting, NewVegas, Las Vegas USA Casino, Grand Rush Casino and Slotgard Casino—were found to be operating in violation of Michigan laws that require licensure for internet gaming and sports betting. This enforcement action is part of the MGCB’s larger crackdown on illegal online gambling platforms.

Partnerships

Table Trac Inc announced that a new Nevada casino partner is installing the CasinoTrac CMS system, and a long-time customer is upgrading from its classic system to the latest comprehensive technology stack featuring enhanced capabilities for Loyalty, Bonusing, & Operations. Barton’s Club 93 Casino Hotel, under new ownership, GLM Gaming, as part of a significant property remodel and renovation is upgrading the slot system to CasinoTrac’s high-speed, Secure, Unified and Stable PlayerLINQ network, which drives player engagement through the programmatic, custom SlotSUITE platform while turbocharging efficiency and time on device with SelfPAY. Border Inn Casino will deploy CasinoTrac’s high-speed, Secure, Unified and Stable PlayerLINQ network, NV Tech Standard 3-compliant accounting and CTLoyalty for Patron & Club Management, powered by CasinoTrac’s bonusing, auto-tiering and reflexive rewards functions.

Caesars Entertainment Inc announced it is the first in the industry to launch IGT’s newest installment of its beloved slot title, Kitty Glitter Grand. The game is now live across Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino in New Jersey, Pennsylvania, Michigan, West Virginia, and Ontario. It’s also available at Caesars Rewards destinations in Atlantic City, including Caesars and Harrah’s, with Tropicana set to join the lineup soon, subject to final regulatory approval. This debut marks IGT’s first simultaneous exclusive launch of a game both online and in casinos in the US. As a result, Caesars is currently the only place where fans of the Kitty Glitter franchise can experience this latest installment, whether in person or online.

The post Gaming Americas Weekly Roundup – August 4-10 appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania