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bet-at-home.com AG: Group figures for the first quarter of 2020

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Group figures for the first quarter of 2020 (01.01. to 31.03.2020):

  • Gross betting and gaming revenue at EUR 32.2 million
  • EBITDA in the first quarter of 2020 at EUR 9.0 million
  • Cash and short-term time deposits at EUR 55.3 million

 

Revenue development in Q1 2020

As a result of the COVID-19 pandemic, the immediate stop in European sports in mid-March 2020 led to a drop in sales in the online sports betting segment, although above all the short-term expansion of eSports as well as sport events in “more exotic” leagues, contributed to keep up the betting offer within the bet-at-home.com AG Group. The online gaming segment remained nearly unaffected by any protective measures due to the purely virtual variety of entertainment offers and was responsible for 57.6% of gross betting and gaming revenue in the first quarter of 2020.

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Overall, gross betting and gaming revenue in the first quarter of 2020 was EUR 32.2 million, 13.4% below the previous year’s figure (Q1 2019: EUR 37.2 million). The decline in gross betting and gaming revenue is mainly due to the loss of essential parts of the Swiss market and the significant decline in the Polish market.

The betting and gaming volume in the bet-at-home.com AG Group totaled EUR 677.8 million in this period (Q1 2019: EUR 827.3 million).

Betting fees and gaming levies were at EUR 5.6 million in the first quarter of 2020 (Q1 2019: EUR 5.3 million). In the same period, VAT on electronic services had a negative impact on earnings of EUR 1.1 million (Q1 2019: EUR 0.9 million).

Accordingly, the net betting and gaming revenue amounted to EUR 25.5 million in the first quarter of 2020 (Q1 2019: EUR 31.1 million).

 

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Brand awareness increased despite the lack of sport events and postponement of Euro 2020

According to the absence of numerous sporting events from mid-March 2020, fewer bonus offers were taken up by our customers. Therefore the total marketing expenses in the first quarter of 2020 were EUR 6.6 million and thus below the comparative value of the previous year (Q1 2019: EUR 8.2 million).

With regard to the European Football Championship, which was originally scheduled for 2020, bet-at-home was able to immediately adjust its marketing strategy to the postponement by one year, so that no significant marketing agreements with a focus on the planned major event were concluded in the reporting period and beyond. As a consequence, bet-at-home will set its marketing focus on the second quarter of 2021.

As at 31 March 2020, the bet-at-home.com AG Group had 5.3 million registered customers (31.03.2019: 5.1 million).

 

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Earnings development in the first quarter of 2020

In the first quarter of 2020, EBITDA amounted to EUR 9.0 million and was therefore below the very strong prior-year period (Q1 2019: EUR 12.7 million), but could outperform the previous quarter (Q4 2019: EUR 8.2 million). Earnings before taxes (EBT) were at EUR 8.5 million (Q1 2019: EUR 12.2 million).

 

Stable asset and capital structure

As a result of the contribution to earnings made in the current reporting period, Group equity increased to EUR 47.5 million as of 31 March 2020 (31.12.2019: EUR 41.6 million), resulting in a consolidated equity ratio of 48.9% (31.12.2019: 43.7%).

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The bet-at-home.com AG Group also held liquid assets and short-term time deposits in the amount of EUR 55.3 million as of 31 March 2020 (31.12.2019: EUR 54.8 million).

 

Outlook for the fiscal year 2020

From the current perspective, the Management Board still expects a gross betting and gaming revenue between EUR 120 million and EUR 132 million in the financial year 2020. The decline in gross betting and gaming revenue compared to the financial year 2019 is attributable to the loss of essential parts of the Swiss market and the significant decline in the Polish market. A potential decline in revenues due to regulatory changes in Germany can currently not be estimated and is therefore not considered.

Furthermore, the Management Board still expects EBITDA to amount between EUR 23 million and EUR 27 million for the financial year 2020.

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About bet-at-home:

The bet-at-home.com AG Group is active in the domain of online gaming and online sports betting. With 5.3 million registered customers, the company (which is listed on the Frankfurt stock exchange) represents, together with its subsidiaries, one of Europe’s most successful online betting and online gaming providers. The varied options offered on www.bet-at-home.com include sports betting, poker, casino, games and virtual sports. bet-at-home has companies in Germany, Austria, Malta and Gibraltar. The successful development of the company can be attributed to its 292 employees as at 31 March 2020. The Group holds various licenses via its Maltese companies for online sports betting and gaming. The licenses allow the company to organize and market online sports betting and online casinos. Since 2009, bet-at-home.com AG has been a part of the Betclic Everest SAS Group, which is a leading French Group in the domain of online gaming and sports betting.

 

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NOVOMATIC Launches XTENSION LINK Volume 2 at FIJMA

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Leading gaming technology Group NOVOMATIC was an exhibitor at the international trade fair FIJMA from May 7-9, 2024, boasting a stand full of innovative products for the Spanish market. The Group’s local subsidiary NOVOMATIC Spain launched the brand new XTENSION LINK Volume 2, which was the star of the show.

The international gaming trade show FIJMA took place from May 7 to 9 at the IFEMA exhibition centre in Madrid, bringing together a large number of industry leaders. NOVOMATIC showcased an extensive range of products perfected for the Spanish market.

This arcade game was presented in the high performing BLACK EDITION II 1.49J cabinet and attracted a lot of attention from visitors, especially with its GOLDEN SPINS feature which ultimately increases the player’s chances of winning. The XTENSION LINK Volume 2 with its ten thrilling titles, Expanding Reels Feature and Free Games takes the player experience to new heights.

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“This cabinet is the result of hard and innovative work that has addressed the needs of our distributors and operators in order to offer a versatile and attractive experience for their gaming establishments,” Jordi Pedragosa, Commercial Director of NOVOMATIC Spain, said.

Other new products on display were the ROYAL LINK, “The Royal Seal for Arcades”, which offers extraordinary quality and excellence for an attractive price, and the NOVO LINE POWER LINK GOLD, which has come to Spain with a revamped and enlarged collection of games. Within this diverse offer for arcades, more powerful models were showcased, such as IMPERA LINK Series 2, CASH CONNECTION Fusion, River Queen Roulette or CLOVER LINK Xtreme, the latter from APEX.

NOVOMATIC’s local subsidiary also presented a wide range of products, exuding a level of freshness and innovation that positively captivated visitors. The section dedicated to the bar segment saw versatility resonating throughout these two new launches: NOVO LINE Supra Cash, with its fascinating games library including three roulette titles and IMPERA Cash Fusion, where Progressive Jackpot titles are combined with IMPERA classics. The second edition of NOVO LINE Power Cash was also shown with a series of new titles. All these models were showcased in the Winner HD+ cabinet, an evolution that features the NV22 bill acceptor. The nearly 1400 m2 of floor space tailored to the company stood out for the excellent way in which the company’s innovative products were staged and presented. Lighting and other decorative elements, fused with cutting-edge technology, played an important role in capturing the attention of visitors, for whom there were plenty of gifts and activities to be enjoyed. Of all the stand’s events, the one that stood out was the “Beat the Champ” event by Chris Mark, world table soccer champion, with whom guests could battle in an exciting duel.

Bernhard Teuchmann, Managing Director of the Product and Technology Division, said: “Participating once again in FIJMA has been a unique experience that has given us the opportunity to strengthen relationships with our customers and show our commitment to innovation. Our most sincere thanks go to all those who worked on preparing and attending this event with the same passion and responsibility that form the essence of who we are.”

The post NOVOMATIC Launches XTENSION LINK Volume 2 at FIJMA appeared first on European Gaming Industry News.

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CogniPlay Launches New Social Casino Platform

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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.

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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.

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Hard Rock International

The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024

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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.

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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.

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