Latest News
Sportech Revenue Declines 40.6% in 2020
Sportech has posted a 40.6% year-on-year decrease in revenue for 2020.
The company brought in revenue of £20.0m ($27.5m) and made a £12.8m loss, after selling both its Global Tote business and the Bump 50:50 lottery brand in 2020.
As it sold the Global Tote business, wagering at venues made up most of the continuing Sportech business’ revenue, down 36.0%. Food and beverage sales at those venues brought in an additional £1.5m, down 66.5%. The business made £2.9m from its lottery business, down 43.3% year-on-year.
Sportech paid £9.4m in costs of sales, for gross profit of £10.5m, down 42.6%. After marketing and distribution costs of £319,000, down 62.0%, Sportech was left with £10.2m, 41.7% less than in 2019.
The business then paid a further £12.3m in operating costs and £261,000 in investments for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) loss of £2.3m.
Following share options, depreciation, amortisation and impairment, Sportech’s operating loss was £10.0m.
It incurred a further £557,000 in finance costs for a £10.6m pre-tax loss. After a £297,000 tax benefit, Sportech’s overall loss from continuing operations was £10.3m, 41.7% less than the same segments lost in 2019.
In addition, the operator’s Global Tote business, which was sold to BetMakers, and its Bump 50:50 business, which was sold to Canadian Banknote, made a combined £2.6m loss after recording revenue of £25.7m.
When these segments are accounted for, Sportech made a final loss of £12.8m, which was 11.7% less than 2019’s loss.
Sportech chief executive Richard McGuire said it was an extremely difficult year for the business because of the impact of the novel coronavirus (Covid-19) pandemic, but noted that it performed better than its March expectations.
McGuire said: “Covid-19 created unprecedented challenging conditions for our businesses and the industries we serve. We continue to take the necessary actions to safeguard the Group and to progress our strategic agenda.
“In line with this, the Group took steps to generate tangible investor returns by exiting certain businesses and assets, advancing the sale of the racing and digital division’s Global Tote business to BetMakers, the sale of the Bump 50:50 raffle business to Canadian Bank Note, and the disposal of a freehold property in Connecticut.
“Despite the challenging global environment, our performance in 2020 was better than initially forecast in March 2020, with Sportech delivering on key 2020 performance metrics, namely cash generation from operational activities, effective capex management, and delivery of a more efficient lower operational cost base going forward, resulting in only a modest cash outflow since the outbreak of COVID-19.”
Powered by WPeMatico
Relax Gaming, the iGaming aggregator and supplier of unique content, has launched Groovy Knights Dream Drop, its latest slot release packed with funky features and lucrative jackpot potential.
Groovy Knights brings a fresh disco twist to the popular Dream Drop series, giving players the chance to spin their way to wins of up to 10,000x a Dream Drop jackpot worth up to €2 million, and if that wasn’t enough, brand-new Daily Jackpots as well.
Set across a vibrant 5×4 reel layout, Groovy Knights Dream Drop is designed to keep the energy high with features that include Knight Re-Spins, Walking Wilds, multipliers up to 100x, and a ‘second chance’ mechanic to keep players in the groove.
Landing one or more Knights triggers a Knight Re-Spin, where the funky knights dance across the reels, boosting wins and multipliers as they go. When two Knights meet, the Disco Knight Feature kicks in for even bigger rewards. Players looking to jump straight into the action can use the Buy Feature to guarantee an immediate Knight Re-Spin or a Disco Knight for maximum entertainment.
True to the Dream Drop name, the jackpot bonus can trigger on any spin when the word ‘Dream’ lands on the top row, giving players a shot at one of five progressive jackpots, including the new Daily Jackpot.
Relax Gaming continues to expand its award-winning portfolio with titles designed to deliver unique gameplay, innovative mechanics and market-leading jackpot experiences.
Kunal Patel-Smith, Game Production Director at Relax Gaming, said: “With Groovy Knights Dream Drop, we’ve brought together a fun disco theme with our proven Dream Drop mechanics and some fresh twists to keep players engaged. The combination of lively features, strong win potential, and a must-win jackpot makes this a standout addition to our growing Dream Drop family.”
The post Relax Gaming gets the party started with Groovy Knights Dream Drop appeared first on European Gaming Industry News.
The post WA. Technology Launches New Global Sportsbook Managed Service appeared first on European Gaming Industry News.
Inspired Entertainment, Inc., a leading B2B provider of gaming content, systems, and solutions, is thrilled to announce the launch of Cops ‘n’ Robbers Bigger Big Money™ – the latest addition in the renowned Cops ‘n’ Robbers™ franchise. Now available in the UK B3, LBO market, this new release from Inspired’s Bell Fruit Games Studio builds on the popular Big Money mechanic, now enhanced with exciting new upgrades.
Cops ‘n’ Robbers Bigger Big Money™ sees the return of the beloved cop and robber duo in a high stakes adventure. Key features include the Big Money Bonus, Progressive Trail, Bonus upgrades, Reel modifiers, a gamble option and Fortune Spins.
Players will need to land three or more bonus symbols anywhere on the reels to trigger one of three Big Money bonuses, starting with a multiplier of up to 3x – the progressive trail offers multipliers up to 10x and during the bonus robber symbols act as cash collectors, accumulating swag bag values when they land.
Landing a cop or robber symbol will advance that character along the trail. Players have unlimited Free Spins until the cop catches the robber at which point the ID parade feature begins to decide the robbers fate. In the ID parade a spotlight will highlight each character then stop on one with the follow outcomes:
- Bert: The bonus ends, and accumulated winnings are awarded.
- Sid: The cop is pushed back two positions, and the bonus continues.
- Vic: The Robber advances to the next multiplier on the trail, and the bonus continues.
Adding even more excitement are upgrade modifiers. When triggered, eight golden safes appear revealing up to 6 different bonus upgrades:
- Cop freeze: Two Cops can land without advancing.
- Golden robbers: Special robber symbols step down one position per spin until no longer in view.
- Extra swag: Adds more swag bag symbols to the reels, increasing the chance of winning.
- Extra robbers: Adds more robber symbols to the reels.
- Increased swag: Swag bag values are increase up to 200x the current bet.
- Multipliers upgrade: All multipliers on the trail are increase up to 20x.
Cops ‘n’ Robbers Bigger Big Money™ offers players the opportunity to boost their winnings or trigger a Big Monus Bonus in the dual wheel gamble. The left wheel offers the chance to increase winnings by 10x, whilst the right wheel offers the chance to gamble for the Big Money, Super Big Money or Mega Big Money bonuses.
Players can customise their game play with Fortune Spins, activated via the feature button. Fortune Spins reels feature swag bag, robber and bonus symbols only, increasing the chance of triggering a bonus. If a bonus is awarded, all symbols return to the reels. When a robber symbol lands during Fortune Spins the cash values from all swag bag symbols in view are awarded.
The getaway van offers a lifeline for players during the Big Money Bonus and Fortune Spins. After a losing spin it may appear and hurl dynamite onto the reels, transforming symbols into swag bags or robbers to trigger a cash collection. If the robber is caught on the trail the getaway van may award the next multiplier on the trail.
Matthew Crane, UK Market Product Director, said: “We’re proud and excited to launch Cops and Robbers: Bigger Big Money™! The Cops n Robbers franchise just got a major upgrade. With a brand-new, even bigger bonus feature, this game brings more fun, more thrills, and more chances to win. It’s everything fans of Cops n Robbers love — just bigger.”
With bigger rewards, enhanced features, and the return of fan-favourite characters, Cops ‘n’ Robbers Bigger Big Money™ delivers an exhilarating gaming experience.
Cops ‘n’ Robbers Bigger Big Money™ is available in retail now.
The post INSPIRED LAUNCHES COPS ‘N’ ROBBERS BIGGER BIG MONEY™ appeared first on European Gaming Industry News.
-
Australia6 days agoACMA Blocks More llegal Online Gambling Websites
-
iGaming7 days ago
The LATAM Online Casino Market: Where Innovation Meets Localization
-
Compliance Updates6 days ago
MGCB Showcases National Leadership on Illegal Gaming Enforcement at 2025 NAGRA Conference
-
Canada5 days ago
User-Centric Redesign for Casinosfiables.ca
-
Argentina6 days ago
SYNOT Games enters the Argentinian iGaming market with Betsson as a trusted partner
-
ACDV certification7 days ago
GoldenRace becomes the first and only Virtual Sports provider certified for Retail in Colombia
-
Asia5 days ago
Gen.G Opens “GGX”, the Next-Gen Cultural Gaming Space
-
BCLC5 days ago
Vancouver Resident Purchased Winning $40 Million Lotto Max Ticket While Quenching Sparkling Water Craving
