Connect with us
European Gaming Congress 2024

Press Releases

Scout Gaming signs agreement with Norsk Tipping

Published

on

After being selected as supplier, Scout Gaming has entered into an agreement with Norsk Tipping, the state governed legal gaming operator in the Norwegian market.

“Norsk Tipping is a strategically very important customer to Scout Gaming. Norway is also a well-established country for Fantasy players. With Norsk Tipping being able to offer the Scout Gaming portfolio, consumers will have access to a modern and regulated solution. We are convinced that Norsk Tipping will succeed with their commercial and regulatory ambitions”, comments Scout Gaming’s CEO, Andreas Ternström.

“We are extremely proud to be chosen by Norsk Tipping as their partner for this important vertical for the coming years. We have worked hard to be able to satisfy Norsk Tipping’s expectations and ambitions. As Scout Gaming originate from Norway/Scandinavia, we have grown up using Norsk Tipping’s products. We see Norsk Tipping as one of the leading iGaming companies in the world when it comes to responsible gaming, innovation, and product line. We look forward to work with Norsk Tipping and aim to build a strong long-term partnership”, says Scout Gaming`s CPO, Andreas Sundal.

“Norway is considered one of the largest Fantasy playing nations in Europe and therefore we aim to channel as much of the players as possible to a legally regulated and responsible environment. This agreement with Scout Gaming makes it possible for us to explore and iterate, ensuring the best possible solution to the Norwegian market. We are currently working on proposing game rules which need to be approved by the Norwegian gaming authorities”, comments Norsk Tipping’s Director of Innovation & Development, Per Kristian Mengshoel.

“Scout Gaming came out as the leading competitor in the procurement and we are looking forward to working with them. This could prove to be an important future product category for us, where we hope to see long-term potential”, continues Mengshoel.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

About Norsk Tipping
Norsk Tipping is the exclusive legal provider of lottery, sports, and instant games in the Norwegian market. Ever since Norsk Tipping started 70 years ago, the profit from the company’s operations has been channeled back to the Norwegian sport and cultural sector. Norsk Tipping is a state-owned limited company subject to the Norwegian Ministry of Culture. Learn more at https://www.norsk-tipping.no/.

About Scout Gaming Group
Scout Gaming Group is a licensed and regulated provider of B2B Fantasy Sports and pool betting. The company offers a flexible and customizable network-based Fantasy Sports solution with support for mostsports and leagues through an in-house StatCenter which also provides real-time information to players. Local sports can be provided on request. The Group is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales and support is handled from the office in Malta. Scout Gaming is listed on Nasdaq First North and the Certified Adviser is Redeye AB – Phone: 08 – 545 013 49, email: [email protected].

Brian Goodman CEO of Golden Matrix

Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth

Published

on

golden-matrix-group-inc.-reports-strong-q3-2024-earnings-and-continued-operational-growth

 

Year-to-Date Revenue up 55% to $105.3 Million Company’s Classics for a Cause Acquisition Successfully Integrated
Golden Matrix Group Inc., a global developer, licensor, and operator of online gaming platforms, today announced strong financial and operational results for the third quarter ended September 30, 2024. The results reflect the Company’s robust growth strategy and expansion efforts across key markets, including the successful acquisition and integration of Classics for a Cause.
Brian Goodman, CEO of Golden Matrix, commented, “Golden Matrix’s Q3 performance demonstrates our commitment and success in building sustainable, long-term growth and strengthening our industry position. Once again, we have delivered strong results across our divisions, supported by strategic acquisitions, platform upgrades, and the expansion of our iGaming portfolio.”
Financial Highlights
  • Revenue Growth: Q3 2024 consolidated revenue increased by 85% to $41 million, with year-to-date revenue up 55% to $105.3 million, driven by consistent performance across key markets.
  • Gross Profit Increase: Gross profit grew 39% in Q3 to $22.4 million, with year-to-date gross profit rising 24% to $61.8 million, reflecting improvements in operational efficiency and product margins.
  • AEBITDA: Adjusted EBITDA for Q3 reached $4.3 million, reflecting resilient performance across multiple revenue channels with marginal impacts from currency fluctuations across subsidiaries.
  • Balance Sheet Strength: As of September 30, 2024, Golden Matrix maintained a robust financial position with over $38.4 million in cash and equivalents and short-term debt of $17.5 million. Shareholder equity also grew 60% to $94 million, reinforcing the Company’s ability to pursue strategic growth initiatives.
Operational Highlights
Golden Matrix achieved significant milestones during Q3 2024, including:
  • Meridianbet Strong Growth Continues: Meridianbet’s Q3 revenue grew 16% YoY, led by a 19% online increase and 6% in retail. Deposits rose to $61.9M (+13% QoQ), with new registrations up 23% to 125K. Online casino GGR margin hit 3.37% (+21% turnover), sports betting rose 7.4% YoY with GGR at 9.5%, retail sports GGR at 10.3% (record 14.1% in August), and retail slots up 17.5% YoY.
  • Expansion of GMAG Platform: The GMAG B2B aggregator platform saw substantial growth, with wagering volume increasing 84% to $1.4 billion. Enhanced customer retention tools and the addition of high-margin games have driven engagement and profitability.
  • Classics for a Cause Acquisition: This newly acquired Australian business added $2.1 million in revenue and $503,000 in EBITDA within two months, expanding Golden Matrix’s market reach and contributing to overall profitability.
  • Mexplay Growth: Mexplay, the Company’s online casino in Mexico, reported a 56% increase in active players and a rise in gross gaming revenue to $15 million, underscoring growth potential in Latin America.
Zoran Milosevic, CEO of MeridianBet, highlighted the company’s strategic advancements, emphasizing the integration of key acquisitions and the enhancement of their operations with their launch of Meridianbet’s 5th generation platform resulting in what they consider to be the world’s most advanced iGaming technology. He mentioned a commitment to maximizing cost efficiencies and leveraging synergies across their global operations to drive sustainable growth and profits. As Golden Matrix enters the fourth quarter, they are focused on operational efficiency and profitability, positioning themselves for a record performance in 2024.
Continue Reading

Jackpot

Guest Wins Nearly a Million Dollars on Royal Flush Jackpot at MGM National Harbor

Published

on

guest-wins-nearly-a-million-dollars-on-royal-flush-jackpot-at-mgm-national-harbor

MGM National Harbor is kicking off November with a big jackpot. A lucky guest was playing Ultimate Texas Hold’em on November 3 when he was dealt a Royal Flush of diamonds, winning $961,428.50.

“What an incredible way to kick off the holidays,” said Alex Alvarado, MGM National Harbor’s Vice President of Casino Operations. “We take great pride in offering the premier selection of table games in an industry where anything is possible. Today, that possibility became a reality with a life-changing win for our guest.”

Continue Reading

Latest News

Stretch Network Partners with Vivaro.US to Enhance Poker Offerings

Published

on

stretch-network-partners-with-vivaro.us-to-enhance-poker-offerings

Stretch Network has officially announced a new strategic partnership with Vivaro. US, a social casino platform. This collaboration is designed to bring ingenious poker operations to a wider audience in the USA, reinforcing Stretch Network’s commitment to expanding its reach in the growing digital market.

Ruslan Bangert, Head of Stretch Network, expressed his enthusiasm for the partnership, stating, “We’re thrilled to partner with Vivaro. US. This collaboration aligns with our goal to innovate and expand in the dynamic world of poker.

The partnership also marks an important milestone for Vivaro. US, allowing the platform to elevate its poker capabilities. Hovhannes Minasyan, COO of Vivaro. US, shared, “This collaboration with Stretch Network enables us to elevate our poker offerings and provide an even more immersive and secure environment for our players.”

“Our partnership with Stretch Network represents an important step in enhancing our poker capabilities and strengthening our platform’s offerings,” said Artak Basoyan, CEO at Vivaro. US.

With a growing presence in the USA through Vivaro. US, Stretch Network is well-positioned to deliver poker experiences to an even broader audience.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The collaboration is expected to drive player engagement and increase opportunities for both companies, highlighting Stretch Network’s ability to adapt and grow in a competitive digital entertainment market.

 

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania