Industry News
Impact of covid-19 on LeoVegas
The effects of COVID-19 are difficult to overlook and conditions change daily. Among other things, sports events are cancelled or moved forward in time. LeoVegas therefore chooses to update on actions taken and potential effects related to the situation that has arised.
HOW LeoVegas handles DAILY OPERATIONS
LeoVegas monitors the course of events surrounding the spread of the virus and follows the authorities’ recommendations. In practical terms, this means, among other things, a call for the company’s staff to work from home and a travel ban.
LeoVegas has offices in many countries and is accustomed to working across departments with the help of conferencing systems and other technical tools. At present the recommendation that employees work from home has only a minor impact on efficiency, and business is continuing as usual.
Focus on casino
During the fourth quarter of 2019, 91 percent of the company’s revenue was generated from its casino business, and the remaining 9 percent from sports betting. In connection with major sporting events, LeoVegas usually tends to note higher activity among customers, but this does not have a major positive effect on LeoVegas’ revenues on the whole. The leagues and sport events that have now been cancelled and postponed are expected to result in a substantial short-term reduction in revenue from sports betting. For LeoVegas’ casino business, operations are continuing as normal without any noticeable disruptions.
“The health of our employees and their families is of absolute top importance, and with the measures we have taken, we are exercising our responsibility as an employer,” comments Gustaf Hagman, LeoVegas’ Group CEO. “We are closely monitoring the situation and continue to be well prepared for the unique situation that has arisen. Of course it is sad to see many sporting events cancelled along with the festivities surrounding them. This is expected to lead to lower revenue for LeoVegas in the sports betting segment, but given our strong position in casino, we can mitigate this effect to some extent by shifting the focus even more to our casino product.”
The situation is very unpredictable, and at this stage LeoVegas cannot quantify the impact of COVID-19. The next financial update is scheduled to be made in connection with the first quarter interim report, which will be presented on 6th May 2020.
Industry News
CT Interactive Appoints Todor Botsev as Business Development Manager for EMEA and Asia
CT Interactive has appointed Todor Botsev as its Business Development Manager for ЕМЕА and Аsia.
With over 16 years of experience in the dynamic and rapidly evolving casino industry, Todor specialises in online and offline business operations. His career has encompassed a variety of roles and responsibilities, including managing online and offline casino operations, optimising gaming platforms and developing strategic business initiatives.
Throughout his career, Todor has gained extensive experience in the development and implementation of new gaming products for online and offline casinos, working with a diverse range of gaming platforms and systems. His expert approach to data analysis and market trends enables him to design and execute innovative strategies for customer acquisition and retention, driving sustainable growth and expanding the customer base.
Todor’s strong leadership skills allow him to effectively manage teams and projects, with a focus on operational efficiency and staff development. His leadership philosophy is built on collaboration and a commitment to delivering the highest standards of customer service.
With his deep understanding of online casino operations and strategic thinking, Todor is a valuable addition to the CT Interactive team.
The post CT Interactive Appoints Todor Botsev as Business Development Manager for EMEA and Asia appeared first on European Gaming Industry News.
Industry News
Playtech Executive Chair Brian Mattingley Set to Step Aside
The chairman of Playtech, the London-listed gambling technology group, is to step down, triggering a search for a successor with a taste for stringent corporate governance challenges.
Egon Zehnder International, the boardroom headhunter, is being appointed to handle the search for Mr Mattingley’s successor, according to a source close to the situation.
A former chairman and chief executive of 888, the London-listed gaming company now known as Evoke, Mr Mattingley was also a founding director of Gala Leisure.
At Playtech, he has overseen a frenetic period of corporate activity while also finding himself in the eye of a series of storms with shareholders over boardroom pay and wider corporate governance.
The most recent of those came in December when close to a third of investors rebelled over a €100m bonus plan for Mor Weizer, the company’s chief executive, along with other senior executives.
Shareholders give Mr Mattingley credit, however, for helping to navigate the company through a challenging period in the gambling industry, in particular his role last year in securing the sale of Snaitech, its Italian consumer gambling arm, for €2.3bn.
That represented a nearly threefold return on Playtech’s initial investment in the business, triggering total returns to shareholders of up to €1.8bn – a sum almost equivalent to all of the special dividends paid by London-listed companies in 2023.
The sale of Snaitech will transform Playtech into a pure-play business-to-business operation.
During Mr Mattingley’s three-and-a-half year tenure, shares in the company have risen by about 60%.
The post Playtech Executive Chair Brian Mattingley Set to Step Aside appeared first on European Gaming Industry News.
Industry News
CT Interactive Reflects on Successful Showcase at ICE 2025
CT Interactive is marking a resounding success following its participation in last week’s ICE 2025 trade show. As a global iGaming provider of innovative gaming solutions, the company used the event to solidify its market presence, seal new partnerships, unveil new gaming content and engage in productive discussions about its ambitious growth plans.
CT Interactive’s showcase at ICE Gaming 2025 reaffirmed its commitment to supporting its partners by expanding its portfolio of games available for their platforms. The company’s efforts to release fresh and engaging content have already been met with enthusiasm, setting the stage for stronger collaborations and greater player satisfaction.
Another highlight of the event was the company’s announcement about its impending certification for the Brazilian market. This milestone will enable CT Interactive to officially enter one of Latin America’s most dynamic and fast-growing regions.
“We’re thrilled about the opportunities Brazil offers. We have prepared a games list designed to resonate with the preferences of Brazilian players, and we’re eager to bring our portfolio to this exciting market,” Martin Ivanov, COO of CT Interactive, said.
ICE Gaming 2025 also provided an excellent platform for CT Interactive to explore growth opportunities in Eastern Europe. With its strong regulatory framework and growing appetite for online gaming, Ukraine featured prominently in the company’s discussions. CT Interactive is about to conclude a deal with a local partner, significantly boosting its presence in this emerging market.
“The Ukrainian market holds tremendous potential, and we’re keen to expand our footprint there. We are confident that our diverse portfolio of high-quality games will meet the expectations of operators and players alike,” Martin Ivanov said.
The company’s new game releases were another highlight of its ICE Gaming presence. CT Interactive’s cutting-edge titles, designed with captivating visuals and engaging gameplay, were met with widespread acclaim. These releases are expected to captivate players and drive significant revenue growth for its operator partners.
Reflecting on the event’s success, Martin Ivanov stated that CT Interactive’s participation allowed it to strengthen its relationships with partners, explore untapped opportunities and reinforce its position in the gaming industry.
“The show was an incredible opportunity to engage with our partners, showcase our innovations, and discuss strategies for mutual growth. We leave ICE Gaming 2025 energised and excited for what’s next,” Martin Ivanov added.
The post CT Interactive Reflects on Successful Showcase at ICE 2025 appeared first on European Gaming Industry News.
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