Industry News
Scout Gaming Publishes Q3 2021 Results
Scout Gaming has published its results for the third quarter of 2021 (Q3 2021).
Extract from CEO Andreas Ternstrom’s commentary to the Interim Report.
“During the quarter, we have worked intensively to launch our tier 1 clients. An example is Norsk Tipping, which now has launched Fantasy Sports games for real money. After the end of the quarter, we launched Fantasy e-sports with Razer and we will launch with ATG before year-end. These tier 1 clients will generate growth during 2022 and beyond. Launching tier 1 customers is the most important cornerstone of our strategy.
“The operator index was unchanged compared with the previous year, which is primarily due to a very strong development during the third quarter of 2020 when the Group benefited from the condensed calendar of sporting events after Covid-related disruptions – there have not been as many fantasy-related, playable events in the third quarter. Compared with the third quarter of 2019, the index increased by 168 percent.
“Revenues were negatively affected in relation to last year for the reasons mentioned above. As a result, however, we had lower marketing costs during the quarter, which in turn resulted in an improved EBITDA compared to the previous year. This in turn shows the flexibility of our underlying business and that the work of optimizing our marketing costs is functioning.”
Highlights
Quarter July – September 2021
- Revenues were mSEK 12.2 (15.0), a decrease with 19% compared to corresponding year.
- EBITDA improved to mSEK -6.3 (-11.6).
- Net result was mSEK -11.9 (-13.4)
- Earnings per share amounted to SEK -0.6 (-0.7)
- Operator trading index (which illustrates the underlying client activity) was 2,410 (2,421).
- Scout Gaming conducted a directed share issue of approximately 2 million shares on a subscription price of 27 SEK, amounting to mSEK 54.
- Subscribers were Ellerston Capital Limited, Topline Capital Partners LP, Lupus alpha Investment GmbH, Scobie Ward (SWIM Capital), Knutsson Holdings AB and Provobis Holding AB.
- Scout Gaming has launched its fantasy software in a “social gaming” version.
- Regarding the above platform, Scout Gaming has signed 3 agreements in the US market, Masters Cup Series, a billiard tour in the US, Skylands Events and University Sports & Entertainment regarding the baseball league “Frontier League” and “eFangage” with Backal Hospitality Group, where the product will be used as a gaming platform for the relationship between sport bars / restaurants and their visitors.
Interim period January – September 2021
- Revenues amounted to mSEK 39.5 (30.0)
- EBITDA amounted to mSEK -34.6 (-33.4)
- Net result amounted to mSEK -38.1 (-40.7)
- Earnings per share amounted to SEK -1.7 (-2.3)
- Events after the period ended
- Scout Gaming has launched Betano (part of Kaizen Gaming) in Brazil.
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Blake Sartini
Golden Entertainment Announces Leadership Changes
Golden Entertainment Inc. announced that effective March 20, 2024, Blake Sartini II, Golden’s Executive Vice President of Operations, became the Company’s Chief Operating Officer.
“Blake has worked in every capacity throughout our organization since he started at Golden almost 17 years ago. His unique knowledge of our Company’s culture, commitment to operational excellence, and strong leadership skills make him the ideal individual to be given responsibility for all our Nevada casino resorts, locals properties, tavern operations and related corporate functions,” Blake Sartini, Chairman and CEO of Golden, said.
Blake Sartini II initially joined Golden in June 2007, working with Golden’s tavern operations and building what is now the largest branded tavern portfolio in Nevada with 69 locations. Currently, as Executive Vice President of Operations, in addition to oversight of Golden’s taverns, he has direct responsibility for the Company’s five local casinos in Las Vegas and Pahrump.
Steve Arcana, Golden’s current Chief Operating Officer, became the Company’s Chief Development Officer also effective March 20, 2024. In this newly created role, Mr. Arcana will be responsible for all new tavern development, finding new third-party food and beverage concepts for the Company’s casino resorts, and exploring opportunities to unlock value in the Company’s excess real estate in Las Vegas, Laughlin and Pahrump. Mr. Arcana initially joined Golden in 2003 and has overseen the Company’s operations as it has grown from a privately held, 900-slot machine route operation to a publicly traded gaming company with casinos in Las Vegas, Laughlin and Pahrump in addition to its significant tavern portfolio.
“Steve has been with Golden for over 20 years and has been an integral part of growing our business and guiding us through many challenges. Steve has established a strong operating team and has been a consistent leader throughout his decades at Golden. His long history and extensive experience in the industry will continue to benefit the Company in his new role focused on creating value from new tavern development and unused assets in our casino portfolio,” Mr. Sartini said.
“These management changes will allow Golden to focus on maximizing performance in our core operations while exploring opportunities to drive future improvement by bringing potential new concepts to our existing portfolio. I am confident the changes to Blake and Steve’s roles with the Company will position us well to create additional shareholder value,” Mr. Sartini added.
Barclays Capital Inc
MGM Resorts International Announces Proposed Senior Notes Offering
MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032.
The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.
The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly-owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.
Deutsche Bank Securities Inc., BofA Securities, Inc., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and Truist Securities, Inc. will act as joint book-running managers and Goldman Sachs & Co. LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC will act as co-managers for the proposed offering.
Affiliate Industry
The Nomination Committee’s Proposal of Catena Media’s Board of Directors at the Annual General Meeting 2024
The Nomination Committee of Catena Media proposed re-election of the following members of the Board of Directors:
Øystein Engebretsen
Theodore Bergquist
Adam Krejcik
Sean Hurley
The Nomination Committee proposed that Erik Flinck and Dan Castillo be elected as new members of the Board of Directors.
Göran Blomberg, Esther Teixeira-Boucher and Austin Malcomb have declined re-election as board members.
The Nomination Committee proposed that there will be six (6) members of the Board of Directors, changed from seven (7).
The Nomination Committee also proposed Erik Flinck to be elected as Chairman of the Board of Directors.
Erik Flinck, born in 1980, currently provides high end business consulting combined with serving as Chairman for the digital health startup, dr HUD. Mr Flinck previously served as Head of BCG Sweden and has extensive experience from corporate management, growth and turnarounds from nearly 20 years of Management Consulting and serving as Head of Group Strategy and M&A at Sandvik AB. He has a Masters Degree in Engineering (Software development and Financial Mathematics) from the Royal Institute of Technology in Stockholm and a Masters Degree in Business and Administration from Stockholm University and Stockholm School of Business.
Born in 1980, Dan Castillo has accumulated over 20 years of experience across startups, growth companies and turnarounds. Since 2015, Castillo has invested in Catena Media, maintaining a close watch on its progression, especially after its IPO in 2016. He has previous experience of listed board work in Kotipizza which Orkla acquired in 2018. He currently serves on the boards of five companies in different sectors, including Quartr.com in Fintech and Hope Studios in movie production. His academic background includes studies in Finance and Economics at Linköping University.
The Nomination Committee of Catena Media consists of:
Nicklas Paulson, representing Investment AB Öresund (chair of the nomination committee)
Marianne Stenberg, representing Second Swedish National Pension Fund
Martin Zetterlund, representing Niklas Karlsson
Göran Blomberg, chairman of the board of Catena Media.
The post The Nomination Committee’s Proposal of Catena Media’s Board of Directors at the Annual General Meeting 2024 appeared first on European Gaming Industry News.
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