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Movers and Shakers: Peter & Sons: we’re not afraid to stand out from the crowd
“Movers and Shakers” is a dynamic monthly column dedicated to exploring the latest trends, developments, and influential voices in the iGaming industry. Powered by GameOn and supported by HIPTHER, this op-ed series delves into the key players, emerging technologies, and regulatory changes shaping the future of online gaming. Each month, industry experts offer their insights and perspectives, providing readers with in-depth analysis and thought-provoking commentary on what’s driving the iGaming world forward. Whether you’re a seasoned professional or new to the scene, “Movers and Shakers” is your go-to source for staying ahead in the rapidly evolving iGaming landscape.
Writing for European Gaming, Yann Bautista, Commercial Director and Founder at Peter & Sons discusses the challenges of creating something truly unique for the iGaming industry.
Developing something ‘different’ for bettors is much easier said than done. Do you go down the game design route? Add new mechanics? How about completely reinventing the overall gameplay experience with the incorporation of new technologies?
Within the iGaming space, we’ve seen game developers and platform providers scramble to find new ways to differentiate themselves from the crowd. And I can see why.
The space has become much more saturated over the last few years, not to mention players demanding much more from their gaming experiences – those points of differentiation can mean the difference between engaging players or fading into the background.
At Peter & Sons, doing things ‘different’ has been our mantra since our inception back in 2019. Our founding team knew that the iGaming sector presented a lucrative opportunity, so in order to be successful, you really had to make a splash.
But let’s be clear, we weren’t looking to reinvent the wheel. From our collective experiences, we knew what worked and, more importantly, what did not. So instead, we wanted to keep the wheel as it was – but add our own fresh spin.
To achieve this, we chose to focus on the development of innovative products and combining that with our distinctive branding. We wanted to make sure that any player who was enjoying our games knew that this was a Peter & Sons product.
Innovation: simply a buzzword?
Now, we know what you’re probably thinking. Doesn’t everyone set out on a mission to innovate? And you’re not wrong. Innovation has become somewhat of a buzzword in our industry over the last few years.
Reskinning an existing game with a slightly tweaked design does not an innovator make.
True innovation, in our view, lies in reimagining existing concepts in ways that feel fresh and exciting, while also introducing entirely new elements that redefine the player experience.
For me, I guess you could say that the iGaming industry can be considered to be an innovative industry. We are seeing new products and technologies emerge which are paving the way for our industry to grow and evolve. However, what we have also seen is a handful of gaming companies recycle more established concepts and mechanics – something that can ultimately have a detrimental effect on player engagement.
Peter & Sons isn’t, and never will be, one of those gaming companies that relies on rehashing existing concepts. As a company, we strive to push the boundaries of game design by incorporating new technologies, creative mechanics and unique artistry to ensure that every single game we develop stands out both visually and experientially.
Our focus on differentiation means that we are able to deliver much higher quality, more immersive gaming experiences that not only captivate players, but help our operator partners to drive long-term engagement too.
It’s all about branding
As a company, we didn’t want our mantra of differentiation to be limited to the development of mechanics. In fact, it is also a value that has shaped our overall branding strategy – both in terms of game design, and how we portray our organisation to new and existing partners. Looking at game design, we ultimately wanted our branding strategy to complement our product innovation team.
To do this, our team follows three core principles: creative, fun and relevant to our audience. There is very little use in designing a game around a theme that has already proven to be unsuccessful with players; instead, look at either developing an entirely new design concept, or adding a new twist to a player favourite.
The synergy of unique game themes, stunning graphics, and top-tier audio design, alongside a brand that highlights creativity and player-centric values, truly sets us apart. This comprehensive approach ensures our games are not only played but also remembered and recommended by players.
Those three core principles have also shaped our brand identity. In fact, we underwent a brand refresh last year, as we wanted to align our visual identity and messaging with the innovative spirit of our game portfolio. For us, it shouldn’t just be our games portfolio that’s fun, creative and relevant. Our overall brand should be too.
Our brand refresh became much more important as we continued to expand our global reach and introduce new titles.
We wanted to be able to roll out new games across new markets, and for players and operators to be instantly familiar with Peter & Sons, and what we stand for. So, we chose to update our logo, website and market materials to better reflect the essence of who we are as a brand.
What lies ahead?
As we enter the next phase of our growth as a company, we will continue to remain firmly focused on changing the game for slot development and bringing new, exciting titles to players right across the industry.
By staying true to our core values of innovation and player-centric design, we aim to set new industry benchmarks and deliver unparalleled gaming experiences. We already have big plans in place to broaden our portfolio, with a pipeline of exciting slots as well as a range of instant and scratch games.
We’ll continue entering new regulated markets and strengthening our presence in existing ones. And rest assured, we will continue to maintain the highest possible standards of quality and creativity.
While I can’t give away much about our plans for the next 12 months, what I can tell you is that we plan to keep building on some of our most successful games, like Barbarossa. Following its success, we are releasing Barbarossa Revenge on the 1 October, which we believe will be a hit, captivating our loyal players and attracting new ones. So, keep your eye out for some new exciting products!
The post Movers and Shakers: Peter & Sons: we’re not afraid to stand out from the crowd appeared first on European Gaming Industry News.
Stretch Network is thrilled to announce a crazy opportunity to engage and reactivate small- and medium-stakes poker players with the launch of our latest tournament.
Tournament Details:
Name: CRAZY?! [Overlay Edition]
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Buy-in: €1
Re-entry: €1
Start Time: 17:00 (UTC+0)
Date: November 24, 2024
Table Format: 8-max
Max Players: 2000
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The post Stretch Network Crazy Promotion appeared first on European Gaming Industry News.
Bragg
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
Bragg Gaming Group, a global B2B content-driven iGaming technology provider, reported record revenue for the third quarter of 2024.
Summary of 3Q24 Financial and Operational Highlights
| Euros (millions)(1) | 3Q24 | 3Q23 | Change |
| Revenue | € 26.2 | € 22.6 | 15.9 % |
| Gross profit | € 14.0 | € 11.9 | 18.1 % |
| Gross profit margin | 53.5 % | 52.5 % | 99 bps |
| Adjusted EBITDA(2) | € 4.1 | € 3.8 | 7.1 % |
| Adjusted EBITDA margin | 15.6 % | 16.9 % | (129) bps |
| Operating Income (Loss) | € (0.4) | € (2.1) | (81.0) % |
(1) Bragg’s reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.12. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only.
(2) “Adjusted EBITDA” is a non-IFRS measure. For important information on the Company’s non-IFRS measures, see “Non-IFRS Financial Measures” below.
Chief Executive Officer Commentary
Matevž Mazij, Chief Executive Officer for Bragg, commented, “The third quarter marked another period of strong growth and record results for Bragg. Revenue grew 16% year-over-year, gross profit increased 18%, and Adjusted EBITDA rose 7%. In the U.S., strong third quarter revenue gains from content distribution helped drive a 40% global increase in proprietary online content revenue year-over-year.
“Additionally, we announced today that the Board of Directors has unanimously decided to conclude its review of strategic alternatives for Bragg. After extensive evaluation and deliberation, the Board determined that the ongoing execution of the Company’s strategic plan is the best way to maximize value for shareholders at this time.
“Since stepping in as Chairman 16 months ago and then as CEO 14 months ago, we’ve transformed our executive team, restructured commercial operations, and sharpened our sales strategy with a targeted, jurisdictional approach. These decisive actions position us to drive growth and capture market opportunities with greater precision and impact. Under new leadership, we’ve built a strong pipeline of tier 1 opportunities across key markets and key products, positioning Bragg for accelerated top- and bottom-line growth.
“With the strategic review process now complete, Bragg is now fully focused on commercialization and unlocking profitable growth, without the need for significant new investment in product development. Our decade-long investments in technology and talent, combined with a robust leadership team, have built a scalable platform that uniquely positions us for aggressive growth in 2025 and beyond. With significant operating leverage now within reach, we’re poised for an exciting, high-growth, and profitable future.”
Third Quarter 2024 and Recent Business Highlights
- Launched its newest games and Remote Gaming Server (RGS) technology with Caesars Digital in Pennsylvania and Ontario. The launch marked the expansion of Bragg’s existing partnership with Caesars Digital, following earlier launches in New Jersey and Michigan respectively, doubling the number of states/provinces in which Bragg content is offered on Caesars Palace Online Casino and Caesars Sportsbook & Casino.
- Launched its newest games and RGS technology with FanDuel in New Jersey, adding to its existing distribution with the leading North American operator in Michigan, Pennsylvania, Connecticut and Ontario
- Post-quarter end, the Company additionally launched its newest games and RGS technology with bet365 in New Jersey, following on from its second quarter launch in Pennsylvania, and an earlier launch in Ontario with the major global iGaming operator
- Launched HardRockCasino.nl in the Dutch market, supplying its cutting-edge player account management (PAM) software to the brand. The agreement is Bragg’s 6th PAM customer in the Netherlands, reinforcing Bragg’s status as the leading technology and content supplier in the Dutch market
- Launched the Kambi sportsbook on 711.nl, adding an additional revenue-generating product stream to a key PAM customer in the Netherlands
- Management is pleased to announce the appointment of Robbie Bressler to CFO of Bragg, effective immediately. Robbie had been serving as Bragg’s interim CFO since July 1, 2024.
Additional September 30, 2024 Key Financial Metrics
- For the nine-month period ended September 30, 2024, Cash flow generated from operations was EUR 8.4 million (USD 9.4 million), compared to EUR 6.2 million (USD 6.9 million) for the nine-month period ended September 30, 2023.
- Cash and cash equivalents as of September 30, 2024 was EUR 11.6 million (USD 13.0 million) and net working capital, excluding deferred consideration, loans payable, and convertible debt, was EUR 11.3 million (USD 12.7 million)
Strategic Alternatives Process Concluded
The Bragg Board announced the strategic alternatives process in March 2024 with the formation of a Special Committee, comprised solely of independent members of the Board. The Committee, together with its advisors Oakvale Capital LLP and Blake, Cassels & Graydon LLP, evaluated a wide range of strategic alternatives for maximizing shareholder value including a potential sale or merger of the Company. Bragg solicited interest from a significant number of potential counterparties and received multiple non-binding proposals.
After careful consideration, the Board, on recommendation from the special committee, unanimously determined that none of the proposals received reflect the Company’s intrinsic value or current and projected financial performance, and therefore elected to conclude its review and disband the Special Committee.
Don Robertson, independent Board member and Chair of the Special Committee, said, “After a comprehensive and exhaustive process, the Committee recommended, and the Board unanimously agreed, that continuing to execute Bragg’s strategic plan as an independent public company is the best approach for maximizing shareholder value. Although the process has now concluded, Bragg’s Board will continue to be open to and consider all opportunities for enhancing shareholder value.”
“Over the past year, our financial performance, cashflow generation and revenue outlook have significantly improved. We remain extremely confident about our business plan, operating strategy, and financial prospects” said Matevž Mazij, Chairman and CEO of Bragg.
Reiterates Full Year 2024 Guidance and 2025 Outlook
Bragg reiterates its 2024 full year revenue guidance range of EUR 102.0-109.0 million (USD 114.2-122.1 million) and its full year Adjusted EBITDA range of EUR 15.2-18.5 million (USD 17.0-20.7 million), noting that the Company is currently tracking to the lower end of guidance.
Bragg is actively advancing a robust pipeline of opportunities that is anticipated to drive strong momentum as we enter 2025. The outlook for 2025 remains positive, with expectations of sustained double-digit top line growth, expanding bottom line margins, and increased operational leverage, further strengthening Bragg’s position in the market. The preceding guidance and outlook constitute forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks.
BetMGM, a leading sports betting and iGaming operator, announced an extension of its partnership with the Vegas Golden Knights through the 2026-27 season. As part of the agreement, BetMGM will continue as an Official Betting Partner of the Vegas Golden Knights with prominent signage on the Knight Tron and throughout T-Mobile Arena as well as co-branded content and exclusive promotions. The partnership also features multiple fan engagement opportunities including watch parties and Toshiba Plaza activations.
“BetMGM is proud to continue our partnership with the Vegas Golden Knights, giving us the opportunity to create memorable moments alongside one of the world’s most passionate hockey fan bases. Las Vegas is BetMGM’s hometown and an integral part of our DNA, so the Golden Knights are a natural fit for our brand.” – Matt Prevost – BetMGM, Chief Revenue Officer.
Throughout the season, BetMGM will host watch parties featuring team mascots at various MGM Resorts destinations. The operator also will plan activations in Toshiba Plaza during select Golden Knights home games where fans can begin the BetMGM mobile app registration process for the chance to win prizes.
“BetMGM is a long-standing partner with the Golden Knights and a brand synonymous with this great city,” said Vegas Golden Knights President and CEO Kerry Bubolz. “We look forward to continue working together on events and activations that we know entertain our fans.”
Lance Evans, SVP Sports and Sponsorships, MGM Resorts, said, “The Vegas Golden Knights play a core role in the Las Vegas sports and entertainment experience and it’s a privilege to welcome both local and visiting fans to our properties before, during and after games. Together with BetMGM, we look forward to co-hosting events that will allow guests to engage with their favorite teams in new and exciting ways.”
BetMGM users can take advantage of the robust offering of prop markets for Golden Knights games this season, frequent in-app odds boosts and the interactive same game parlay betting feature. New BetMGM customers who download the BetMGM app and verify at one of BetMGM’s nine retail sportsbooks within walking distance of T-Mobile Arena will receive a first bet offer of up to $250 paid back in bonus bets if their first bet loses (offer only available in Nevada; bonus bets are non-withdrawable and expire in seven days.) Through the recently launched single account and wallet app upgrade, BetMGM users who sign up in Nevada and reside in other BetMGM U.S. mobile markets can continue to wager upon returning home.
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