Industry News
Codere Online Reports Financial Results for Third Quarter of 2021
Codere Online has released its financial results for the quarter ended September 30, 2021.
In June 2021, Codere Online entered into a definitive business combination agreement with DD3 Acquisition Corp. II (DD3), a publicly-traded special purpose acquisition company, that upon consummation will result in Codere Online becoming a public company.
Highlights
- Total net gaming revenue was €20.2m in the quarter and €61.9m in the year to date period.
- Mexico net gaming revenue was €7.1m, an increase of 26% versus €5.6m in Q3 2020.
- Total net gaming revenue outlook for 2021 of between €81m and €86m maintained.
- Spanish gaming regulator has granted the Company’s request for a 10-year extension (through May 31, 2032) of two general online gaming licenses in Spain (sports betting and other games).
- Company expects the business combination will be completed during the week following the special meeting of DD3’s stockholders, which is scheduled to take place on November 18, 2021.
Moshe Edree, Managing Director of Codere Online, said: “Our third quarter results reflect the strong revenue trends in Mexico, with a 26% year-on-year increase in our total net gaming revenue. This performance was partially offset by a decline in net gaming revenue in Spain due to the changes in regulation that came into effect starting in May, with Q3 2021 being the first full quarter of operations in which the ability to offer player bonuses and other marketing activities has been curtailed. However, we are adapting well to these restrictions and believe that there continues to be opportunity to grow our market share in Spain, as we have since the onset of these restrictions, which put operators that can leverage a retail footprint at a competitive advantage.”
Mr. Edree added: “In addition to the Rayados (Mexico) and River Plate (Argentina) sponsorships that we announced in July, we have recently announced a further 5 year extension (through the 2025-26 season) of our agreement with Real Madrid. This agreement will now cover over twenty countries throughout Latin America which we believe will boost our expansion in the region in furtherance of our ambitious growth targets.”
Oscar Iglesias, Chief Financial Officer, said: “Despite the anticipated regulatory headwinds in Spain, we continue to be excited about the market and have recently been granted a 10-year extension (through May 31, 2032) of our two general online gaming licenses (sports betting and other games), which were otherwise schedule to expire on June 1, 2022. More generally, the business continues to perform in line with our expectations and we are on track to meet our net gaming revenue outlook for 2021 of €81 to €86m.”
Mr. Iglesias further added: “We have made significant progress on the business combination with DD3, which we expect will be approved in its upcoming shareholder meeting on November 18, 2021. We are looking forward to closing the transaction and having the funding needed to execute our marketing plan and to delivering what we expect to be significant growth in this business over the coming years.”
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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.
Gamification
Soft2Bet launches MEGA Shoot World Cup gamification engine
Soft2Bet has launched MEGA Shoot, a football-themed gamification engine designed around the 2026 FIFA World Cup, aimed at helping sportsbook operators retain players during the tournament.
The product will be deployed across selected Soft2Bet brands including Betinia, Swiper, Campobet, ToonieBet and Elabet, with availability spanning markets including Denmark, Greece, Mexico, New Jersey, Ontario, Romania, and the rest of Canada, according to the company.
MEGA Shoot uses a player-versus-player best-of-five penalty shootout format. Players alternate between striker and goalkeeper, with the striker selecting where to shoot and the goalkeeper selecting where to defend. Each round resolves as a goal or a save before roles switch.
Soft2Bet said early internal results show 31.9% engagement among active players across selected brands, with 71.2% of MEGA Shoot players going on to play a second match. The company also claims a 13.5% player retention uplift.
Yoel Zuckerberg, Chief Product Officer at Soft2Bet, said: “The World Cup runs from 11 June to 19 July, so retention has to work across the full tournament calendar. MEGA Shoot gives operators a football game that players can understand quickly, with head-to-head competition tied to the sport they already follow. With almost 32% engagement among active players and about 71% converting into a second match, the early data shows how tournament-led gamification can strengthen sportsbook engagement during major football events.”
The post Soft2Bet launches MEGA Shoot World Cup gamification engine appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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