Industry News
NSoft Global Expansion
NSoft made international growth one of its investment priorities for 2019 and the global expansion plan is smoothly reaching its targets on the world’s largest markets.
The company’s presence has steadily increased in accordance with the action plan and now, besides the HQ in Mostar and Maglaj office, NSoft has offices in Croatia, SAR, Costa Rica, and Singapore.
NSoft’s CEO, Igor Krezic commenting on the company’s strategic plan says: ‘’ NSoft has begun building successful teams outside its comfort zone in its core region. This ambitious global expansion plan is fueled by the industry’s recognition and awards that are following NSoft’s product innovations. When you think about the betting industry opportunities globally, there’s a massive market out there, a huge number of businesses that you can potentially reach out to.”
The core betting markets are “not tapped, but they’re definitely a little more saturated,” said Krezic: ‘’The company added a new sales force in 2019 that will be in charge of the emerging markets as well. The entire NSoft’s business team has grown exponentially, even over 200%’’, he noted.
Such overseas business development could not be realized merely by the efforts from a single HQ point. The significant manpower had to be hired, the one that can interact with foreign customers, participate in overseas exhibitions and conferences, and even build reliable acquaintances for cultivating sales channels, with the managers themselves traveling overseas.
NSoft’s HQ team has created different internal procedures, tools, and regulatory adherence principles in order to support the teams in NSoft branch offices.
Krezic noted that: “NSoft’s sales playbook for international expansion in future years includes investing in localization, like translating the platform into local languages, offering regionally specific payment methods and letting operators offer products in multiple currencies, as well as market regulatory adherence. The company also hires in the target countries — particularly business development staff.’’
In order to share its know-how, NSoft has, for example, organized conferences and events in Bosnia and Herzegovina. NSoft Days were an excellent opportunity for the existing clients to get familiar with novelties and upgrades of the company’s product portfolio. Aligning sales and marketing forces has led to increased customer care and more sensitivity to customer expectations.
Two years ago, NSoft’s data provisioning requirements have grown tremendously thus the entire full-fledged NSoft Data Service team has been introduced to the everyday operations and is on the client’s disposal. Having a single source of truth in the global market is now mandatory. The NDS team is currently operating a Data warehouse (DWH) capable of nearly real-time processing and ingesting millions of data points per second which then feed into NSoft’s analytics layer.
One of the ways through which data analytics provides value is by improving the existing product portfolio wherever possible. By providing services of statistical analysis, testing product logic, identifying malicious player behavior as well as positive player feedback, the NDS team aims to implement their findings and insights into bettering each of NSoft’s products.
Commenting on NSoft’s next stage of growth Krezic says: “ We change entertainment, security and health with technology. With global internet growth, this NSoft strategy of the global-local approach has become a viable option. NSoft has a model that is working consistently finding ways to tap into growing trends and keeping its ownership position in the betting industry’s innovations.”
CogniPlay has launched its new software product, which aims to provide a robust online sweepstakes or social gaming platform to its clients. The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.
The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification and customer support.
They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.
As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.
CogniPlay’s Chief Executive Officer Allan Turner said: “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.
“Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup. This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”
The post CogniPlay Launches New Social Casino Platform appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
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