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Could Sun International Hotels And Casinos Be Set To Profit Amid Coronavirus Outbreak?

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As the global economy begins to suffer, many businesses have taken the hit as people all over the world are told to avoid unnecessary travel. In this article, we will be looking into the effects that these restrictions are having on numerous industries around the globe.

The Affect Of Coronavirus On The Global Market

At this moment in time, the outbreak has taken a toll on several national economies as well as the global economy. With the FTSE dropping by 33% with a number of the world’s leading banks cutting interest rates to prevent this. This 33% drop equates to as much as £130bn wiped from the value. This is hugely problematic for not only individuals but small businesses that have had to close down as a result of Covid-19.

However, with several announcements from the US and British government, the stocks have continued to see a downward trend. The Dow Jones index closed 12.9% down after President Trump said that the country may be heading for a recession as a result of the Covid-19 outbreak. Though, as further regulations are put in place to combat the spread of the virus, we may well continue to see the stocks drop dramatically in price as a result.

The National State Of Disaster In South Africa

As the virus begins to spread around the world, the South African president declared a national state of disaster within the country. With this came travel bans for those from the U.S, UK Italy, China, Germany South Korea, Iran and Spain. Though this has been declared in the country, there are several industries such as online gambling in Casinos.co.za and casinos are continuing to thrive. Though this is looking promising at this time, many industry experts suggest that this could be a problem in the near future. However, as several businesses continue to close around the world, Covid-19 could be problematic for a number of these businesses that are currently thriving as people begin looking to spend their money elsewhere.

The Current State Of South African Gambling Giant Sun International

As of Monday south African hotel and casino, Sun International reported that they have seen a 91% jump in the adjusted full-year earnings despite the ongoing issue of Covid-19. However, the company has said that they are preparing for the worst when it comes to the impact that the virus could have on their business. As they also have hotels and casinos in Latin America the company saw income rise by a total of 4% to 17.2 billion. However, with travel bans and the sheer number of Coronavirus cases, this is set to change dramatically.

The Recent State Of Affairs

However, as restrictions tighten and the number of confirmed cases rises, it is the hospitality industry that is set to suffer. As people all over the world are advised to avoid social gatherings and unnecessary travel, the company have seen a drop in the stock price of 13.17%. This is a huge loss in volume for the company, however, it is not unexpected as this is occurring within a huge number of industries as this continues.

Whether you are experiencing a drop yourself or you are looking at the current state of the economy at this time, there is plenty that has been affected by the ongoing Covid-19 pandemic.

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Midnite appoints former LiveScore Group CPO Sam Talbot as Vice President of Product

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Midnite, the hyper-growth UK sportsbook and casino operator, has appointed Sam Talbot as Vice President of Product, strengthening the company’s leadership team as it accelerates its product-led strategy and pursuit of Tier 1 status in global markets.

Talbot brings more than 15 years of experience in product leadership roles across digital and consumer-facing platforms, with a proven track record of scaling product teams, defining strategic roadmaps, and building innovative user-centric solutions. Most recently Sam served as Chief Product Officer at LiveScore Group, where he led product strategy and development across high-traffic sports and entertainment products, driving engagement and growth.

He joins at a pivotal time for Midnite following its recent $35 million Series C funding round led by The Raine Group, which took total funding beyond $75 million and is being used to scale operations, accelerate development of best-in-class products and support international expansion. A key focus of the investment is expanding Midnite’s product and engineering capabilities as it pursues its ambition of becoming a tier-1 operator.

Midnite develops its entire platform in-house, with all engineering teams based in the UK. This approach enables rapid innovation and a deeply customer-centric product strategy, which has underpinned the company’s rapid growth and challenger brand positioning.

Nick Wright, Co-Founder of Midnite, said: “Midnite is product obsessed, so bringing Sam on board as VP of Product felt like a completely natural fit. He shares our DNA when it comes to building for players first, and he brings the leadership and experience we need as we scale.

“Our vision is to become a tier-1, market-leading, product-led operator, and that means continuing to raise the bar for what the betting and gaming experience should feel like. Sam will play a central role in shaping that future. With the backing we’ve secured and the team we’re building, there’s a huge amount to come from Midnite this year.”

Sam Talbot added: “Midnite’s commitment to in-house technology and genuine product innovation really stood out to me. This is a team that cares deeply about the player experience and moves quickly to deliver it. I’m excited to be joining at such an important stage of growth and to help build products that set new standards in the industry.”

Founded in 2015 by Nick Wright and Daniel Qu, Midnite has grown rapidly in recent years, expanding its product mix and team while establishing itself as one of the UK’s most exciting challenger brands. With significant new investment and an expanding leadership team, the company is focused on closing the gap with the market’s largest operators through product excellence and innovation.

The post Midnite appoints former LiveScore Group CPO Sam Talbot as Vice President of Product appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Carl Gatt Baldacchino Head of Account Management SlotMatrix

Royal Paws, Royal Payoffs: SlotMatrix’s Catsino Royale

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SlotMatrix, the leading casino content aggregator globally, has enhanced its exclusive content collection with the debut of Catsino Royale, a playful slot that merges feline attitude with traditional casino excitement.

Located within a lively cat-themed casino, the game provides swift gameplay that allows players to accumulate increasing rewards and activate various bonus chances with each spin. Featuring stunning visuals, captivating characters, and intricate mechanics, the game combines enjoyable presentation with significant winning possibilities.

Central to the activity is the Coinstack function. Each coin symbol that appears increases the value of the stack, enlarging it and enhancing rewards with every spin. Players activating either the Catsino Wheel or the Stack N Spin bonus will reap the rewards of the total accumulated amount.

Landing four Bonus symbols triggers the Catsino Wheel, filled with rewards that include multipliers of Coinstack and can reach the Grand Jackpot valued at up to 500x. Landing five bonus symbols activates the Stack N Spin feature, which increases the Coinstack and provides several opportunities to re-trigger the wheel for extra rewards.

The Wild Deal feature creates Golden Frames each time Wilds appear. Wilds introduced into current frames enhance their multipliers, and when the Cat Dealer shows up, all frames transform into Wilds.

Only accessible via SlotMatrix, Catsino Royale is upgraded with EveryMatrix’s unique gamification features, such as free spins and leaderboards, and can be effortlessly incorporated with EngageSuite, the comprehensive player loyalty platform.

Carl Gatt Baldacchino, Head of Account Management, SlotMatrix, said: “Catsino Royale blends playful visuals with mechanics that continuously build value. It will be a strong performer for operators looking to add something fun, distinctive, and rewarding to their lobbies.”

The post Royal Paws, Royal Payoffs: SlotMatrix’s Catsino Royale appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Booming Games Strengthens Leadership with Appointment of New CFO

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Booming Games has elevated Luke Sammut to the newly established position of Chief Financial Officer effective immediately.

Booming Games, a top supplier of high-quality gaming content, has today enhanced its C-suite by promoting Luke Sammut to the newly established position of Chief Financial Officer (CFO) effective immediately. This comes after a series of recent high-level promotions at Booming Games, including the announcement of a new Chief Operating Officer and Chief of Staff last month.

Luke Sammut has dedicated more than eight years to Booming Games in multiple senior finance positions, most recently as the Director of Finance and Accounting. Having a solid foundation in accountancy and a strong enthusiasm for the iGaming sector, he contributes a vast amount of experience and industry expertise to the team. Located in Malta, Luke will be accountable for steering the company’s international financial strategy and managing reporting across various jurisdictions.

The establishment of the CFO position signifies a new phase in the company’s development and highlights a strong dedication to attracting and developing exceptional talent. With the company aiming to achieve ambitious growth goals and enhance its global reach this year, the timing of the appointment is quite promising. Focusing on customers in game development, Booming Games is consistently aiming to innovate and broaden its portfolio, with intentions to substantially boost the frequency of game releases this year.

Booming Games has a solid history of investing in its workforce, with the number of employees recently exceeding 200. In the future, the expanding C-suite will guarantee that the company keeps evolving and is positioned to handle the upcoming phase of its growth.

Max Niehusen, Founder of Booming Games, said: “We are delighted to announce Luke’s promotion, in what is a landmark moment for Booming Games as we appoint our first Chief Financial Officer. Over the past eight years, he has made an immense contribution to the business, playing an important role in our success during a key growth phase.

“I look forward to continuing working closely with him as we look to break new ground this year. As CFO, Luke’s experience will be critical as we expand our operations, with the aim of being regulated in every major market within the next five years.”

Luke Sammut, Chief Financial Officer at Booming Games, said: “With ambitious growth targets, Booming Games’ rapid expansion shows no sign of slowing. I am proud to be taking up the position of CFO, helping to shape the next phase of our financial strategy, at such a pivotal moment for the business. With clear direction from a strong leadership team, Booming Games is well placed to build on its strong financial foundations and seize the opportunity to further cement its reputation for market-leading innovation.”

The post Booming Games Strengthens Leadership with Appointment of New CFO appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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