Industry News
Philip Brown Promoted to Head of Marketing at Sportingtech
Full-service betting and gaming platform provider Sportingtech has promoted Philip Brown as head of marketing.
With more than 10 years in marketing, Philip Brown joined Sportingtech in December 2021 as marketing manager. He previously held the same position at Clarion Events, where he was with the company for more than 6 years.
After being promoted, Brown said: “I am honoured to lead the marketing initiatives at Sportingtech, and my focus is crystal clear – to establish Sportingtech as the go-to platform in Latin America.
“Our journey will be marked by innovation, strategic partnerships, and an unwavering dedication to exceeding the expectations of our operators and partners.”
Brown further stated: “I am confident in the incredible capabilities of our team, whose passion and expertise will be the driving force behind our success.”
In addition to this new step in his career, Brown was named in the prestigious Top 20 Awards by 5 Star & Co igaming Media, one of the highest accolades for igaming professionals.
Flutter Entertainment Plc announced that the Science Based Targets initiative (SBTi) has formally approved its near and long-term science-based emissions reduction targets. The SBTi has also verified Flutter’s net-zero science-based target by 2035.
Flutter’s net-zero target conforms with the SBTi Corporate Net Zero Standard and has been classified to be in line with a 1.5°C trajectory, aligning to the levels required to meet the goals of the Paris Agreement.
Scope 1, 2 and 3 targets approved by the SBTi are as follows:
Overall Net-Zero Target:Flutter commits to reach net-zero greenhouse gas (“GHG”) emissions across the value chain by 2035. This is broken down as follows:
Near-Term Targets: Flutter commits to reduce absolute scope 1 and 2 GHG emissions 45% by 2030 from a 2022 base year. Flutter also commits to reduce absolute scope 3 GHG emissions 45% within the same timeframe.
Long-Term Targets: Flutter commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2035 from a 2022 base year. Flutter also commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe.
Flutter will provide regular reporting on progress against these targets, in addition to the approach to managing climate-related risk and opportunities.
Flutter’s Group Director of Sustainability and Regulatory Affairs, Sue Albion, said: “At Flutter, we are committed to playing our part in moving toward environmental sustainability, for the health of our planet and the future success of our business. Around the world, our brands are taking steps to track their carbon footprint and reduce emissions, and we’re collaborating with partners across our supply chain to support them to do the same. Setting clear, science-based targets and holding ourselves accountable to deliver against them is a key part of this journey.”
The post Flutter receives formal approval of its science-based targets appeared first on European Gaming Industry News.
Wynn Resorts Limited has reported the financial results for the first quarter ended March 31, 2024.
Operating revenues were $1.86 billion for the first quarter of 2024, an increase of $439.2 million from $1.42 billion for the first quarter of 2023. Net income attributable to Wynn Resorts, Limited was $144.2 million for the first quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $12.3 million for the first quarter of 2023. Diluted net income per share was $1.30 for the first quarter of 2024, compared to diluted net loss per share of $0.02 for the first quarter of 2023. Adjusted Property EBITDAR was $646.5 million for the first quarter of 2024, compared to Adjusted Property EBITDAR of $429.7 million for the first quarter of 2023.
“The strong momentum we experienced in our business throughout 2023 continued to build during the first quarter with Adjusted Property EBITDAR reaching a new all-time record. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets. On the development front, vertical construction on the hotel tower at Wynn Al Marjan Island is well underway, and we are confident the resort will be a ‘must see’ tourism destination in the UAE. We are excited about the outlook for the Company, and we believe we are well positioned to deliver continued long-term growth,” Craig Billings, CEO of Wynn Resorts Limited, said.
Consolidated Results
Operating revenues were $1.86 billion for the first quarter of 2024, an increase of $439.2 million from $1.42 billion for the first quarter of 2023. For the first quarter of 2024, operating revenues increased $217.5 million, $181.0 million, $49.8 million, and $1.5 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, from the first quarter of 2023.
Net income attributable to Wynn Resorts, Limited was $144.2 million for the first quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $12.3 million for the first quarter of 2023. Diluted net income per share was $1.30 for the first quarter of 2024, compared to diluted net loss per share of $0.02 for the first quarter of 2023. Adjusted net income attributable to Wynn Resorts Limited was $176.8 million, or $1.59 per diluted share, for the first quarter of 2024, compared to adjusted net income attributable to Wynn Resorts, Limited of $33.3 million, or $0.29 per diluted share, for the first quarter of 2023.
Adjusted Property EBITDAR was $646.5 million for the first quarter of 2024, an increase of $216.8 million compared to Adjusted Property EBITDAR of $429.7 million for the first quarter of 2023. For the first quarter of 2024, Adjusted Property EBITDAR increased $91.3 million, $92.4 million, and $14.7 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively, and decreased $0.3 million at Encore Boston Harbor, from the first quarter of 2023.
Wynn Resorts Limited also announced that its Board of Directors has declared a cash dividend of $0.25 per share, payable on May 31, 2024 to stockholders of record as of May 20, 2024.
Bragg Gaming Group, a global B2B content-driven iGaming technology provider, reported record financial results for the first quarter of 2024.
Matevž Mazij, Chief Executive Officer for Bragg, commented: “We carried our strong momentum in 2023 into the first quarter, delivering robust growth that underscores the ongoing success of our efforts to transform Bragg into a content-focused iGaming solutions provider across expanding North American and European markets. Year-over-year revenue increased by 4.2% to EUR 23.8 million, largely propelled by organic growth from our current client base, the addition of new customers in multiple jurisdictions, and impressive results from our in-house Wild Streak Gaming casino games studio.
“Although gross profit and Adjusted EBITDA saw modest decreases in the first quarter stemming from the extension and renegotiation of our agreement with Entain Plc to provide our PAM platform to BetCity.nl through 2025, we maintain a strong belief in our ability to achieve long-term growth and profitability. Our proprietary and exclusive third-party content continues to gain ground with an increasing number of top-tier operators globally, and we introduced a total of 19 new exclusive titles worldwide in the first quarter of 2024.
“Additionally, as we continue to make encouraging progress on our strategic alternatives review process, it’s important to emphasize that we are operating the business as usual and remain laser-focused on capitalizing on growth opportunities.
“With that in mind and in response to the increasing demand and growth in the iGaming marketplace, subsequent to quarter end, we took two significant steps to further fuel our growth initiatives. First, we secured a USD 7.0 million investment through a promissory note, enhancing our balance sheet flexibility as we continue to execute our strategy and explore strategic alternatives to maximize shareholder value.
“Second, we bolstered our leadership team with the appointment of Neill Whyte as our new Chief Commercial Officer. With over 18 years of iGaming experience and a proven track record of driving growth through successful commercial partnerships, Neill’s expertise will be invaluable as we leverage our extensive content and product portfolio to expand in existing and new markets. This key hire is another testament to how we are scaling our organization for sustained growth and profitability.
“While the strategic review process progresses, we remain bullish on the opportunities ahead as the trend of iGaming regulation continues worldwide. We see exciting potential in newly regulating markets like Brazil, Peru and Finland, as well as untapped opportunities in regions like Africa that we are actively exploring.
“The strategic moves we have made have established Bragg as a vital content provider for premier international iGaming operators, reinforcing our base for reliable and lucrative growth. Equipped with the appropriate strategies, financial resources, and talent, we are well-prepared to maintain our business momentum while pursuing initiatives that foster cash flow growth and deliver increased value to our shareholders.”
-
Canada7 days agoScientific Games Partnership Wins 2024 Gutenberg Award for Sustainability
-
Baltics6 days ago
Elvis Merzļikins Becomes Brand Ambassador of OlyBet
-
Compliance Updates6 days ago
Novibet Announces Digital Compliance Partnership with W2 by FullCircl
-
Baltics6 days ago
Rise, Shine, and Connect: HIPTHER’s Networking Sessions at MARE BALTICUM Gaming & TECH Summit Tallinn
-
Central Europe6 days ago
BF Games Enters Czech Market with Apollo Games
-
bet3656 days ago
IBIA and PFA Canada join forces to provide sports integrity education to the Canadian Premier League
-
Compliance Updates7 days ago
PGA of America Joins AGA’s Have A Game Plan.® Bet Responsibly.™ Campaign
-
Latest News5 days ago
Week 19/2024 slot games releases
