Industry News
QTech Games confirms Epic merger
Asia’s top distributor merges with leading games reseller Epic Media to secure a trailblazing leadership team for growth markets
QTech Games, Asia’s number-one games distributor, has announced a major merger with leading games reseller, Epic Media, in order to bolster its platform’s position at the forefront of the industry for taking the best online games to market across emerging territories.
Under the terms of the reseller agreement, every component of QTech’s digital one-stop shop will be made available, from slots and table games to instant win, virtual sports and live casino games.
Epic Media is headed by industry trailblazers Staffan Lindgren and Ulf Norder, both of whom have a proven record for business development and scale-up success. Norder is a former Director of Development at Yggdrasil and Evolution Gaming, while Lindgren was a co-founder of NYX, which now forms a key part of Scientific Games.
Thanks to a recent partnership with Ezugi’s live-dealer portfolio, QTech Games now has an all-inclusive service for global operators, particularly across developing gaming spaces where demand for a comprehensive-yet-localised product set is paramount against a diverse backdrop of cultural trends and player preferences.
Markus Nasholm, Chairman of the Board at QTech Games, said: “We’re thrilled to have finalised this milestone merger with Epic Media, and delighted to have the combined experience and expertise of Staffan and Ulf on board. To have two of the most successful people in the gambling join QTech Games is a ringing endorsement of all our team’s hard work in recent years.
“It’s been another year of sustained growth at QTech, and their partnership will prove invaluable as we grow further and faster in more international markets. It’s also a real validation that QTech adopted the correct strategy from the outset with our ‘two cornerstones’ model. Firstly, beyond the fantastic games, fully owning the technology sets QTech apart, which enables us to offer a number of flexible features which no competitor can rival. And secondly, outside of Asia, we’ve secured strongholds in virtually all the margin markets, demonstrating organic growth across channel and border.”
Staffan Lindgren, Strategic Adviser to the Board, said: “I’ve been active in Asia for a long time but this is the ideal time to consolidate my hard-won experience in a more structured way with QTech Games. QTech is clearly the leader in Asia, and other key growth territories are quickly falling in line. Their propriety technology means they’re the only aggregator that is not just delivering fantastic games but also adding engaging features (such as QT Play’s AI-powered recommendation engine, alongside their Tournament and Jackpot elements) which make QTech’s position in the market unique. The rapid growth since the start has also been extremely impressive with yearly double-digit gains immediately taking the eye.”
Ulf Norder, VP / Director of sales, added: “For me, having previously been more active in Europe’s ‘margin markets’, this role is a perfect opportunity. QTech Games is the only company that has been active in all such markets. Indeed, they’re not just an Asian aggregator but are also attracting clients from all over the world. Latin America, Eastern Europe and they’re already in position to stake a firm claim in the Indian market, stealing a match on the competition. Together, I’m confident we can be even more successful.”
As the fastest-growing distributor in Asia over the past few years, QTech’s platform boasts the the most comprehensive gaming portfolio around, tailored for each region, with native mobile apps, powerful reporting and marketing tools, and 24/7 local-language support.
Industry News
CogniPlay Launches New Social Casino Platform
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.
Industry News
IGT Reports First Quarter 2024 Results
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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