Industry News

Net Gaming carries out restructuring and issues forecast for Q2 2020

Published

6 years ago

June 16, 2020

Reading Time: 3 minutes

Net Gaming’s operations have performed well during Q2, showing both organic growth and improved underlying profitability in adjusted EBITDA. The Company is in an intensive transformation phase, after Robert Andersson took over as CEO, which means that a reorganisation has been initiated. The reorganisation, which is aimed at creating better conditions for future growth, means that the second quarter has been affected by non-recurring costs.

The reorganisation of the business and transformation to Acroud AB have begun during Q2. The reorganisation involves, among other things, closing the Swedish office and centralising the business to Malta, in order to create a more efficient and cost-effective organisation. The reorganisation will bring annual savings of EUR 0.3m, with full effect from Q3. The reorganisation will give rise to non-recurring costs of EUR 0.5m during Q2 2020, charged to operating profit (EBITDA). The Company has also decided to recognise an impairment loss of EUR 0.5m on assets related to the PokerLoco brand, which will not be included in the new growth strategy adopted in 2020, focusing on fewer products. In parallel, refinancing of the business has been successfully secured in Q2, also resulting in non-recurring costs of approximately EUR 0.3m related to a consent fee, charged to net financial items. Net financial items have also been adversely affected by EUR/SEK exchange rate fluctuations of approximately EUR 1.2m in the first two months of the quarter, as the bond loan is denominated in SEK. The Company’s reported profit after tax for Q2 has been negatively affected by the above factors.

“The underlying operations have shown positive development during Q2, with sequential organic growth of 14%, but also compared with the previous year. It should be noted that a large proportion of the items having a negative impact on Q2 earnings are non-cash items and of an accounting nature. The offensive initiatives and the reorganisation we are now implementing create the conditions for future growth and a brand new Acroud AB that will stand stronger in the future. With Sports betting on the doorstep and a company that is now optimised for the future, we feel strong as we embark on the growth journey we have begun. As proposed to the AGM, we also hope to be able to change our track to the new Acroud AB, which will be a new milestone,” says CEO Robert Andersson.

Forecast Q2 2020

Revenue is expected to amount to EUR 3.6m in Q2 2020, 14 percent higher than in Q1 2020 and 4 percent higher than in Q2 2019.
Adjusted EBITDA (adjusted for non-recurring costs related to reorganisation and rebranding) is expected to amount to EUR 2.1m, 21 percent higher than in Q1 2020 and 4 percent higher than in Q2 2019. The adjusted EBITDA margin for Q2 2020 is expected to be 58 percent.
Reported EBITDA is expected to amount to EUR 1.6m, 10 percent lower than in Q1 2020 and 23 percent lower than in Q2 2019. The EBITDA margin for Q2 2020 is expected to be 43 percent
Reported profit after tax is expected to amount to EUR -1.2m, compared with EUR 2.8m in Q1 2020 and EUR 1.2m in Q2 2019, which was adversely affected by the above-mentioned non-recurring costs and exchange rate fluctuations related to the loan financing. Adjusted for non-recurring costs and exchange rate fluctuations, Adjusted profit after tax for Q2 2020 amounts to EUR 1.4m.
At 30 June 2020, the cash position is estimated at EUR 3.0-3.2m. The Company’s interest-bearing net debt is expected to be EUR 21.5m, corresponding to a debt/equity ratio, defined as net debt/EBITDA, of 3.0x, based on estimated LTM EBITDA at 30 June 2020.
Robert Andersson, President and CEO

All figures are unaudited and based on management accounts. The next financial update is scheduled to take place in connection with this year’s Q2 report on 13 August 2020.

About Net Gaming:
Net Gaming owns, operates and develops high-quality comparison sites, mainly in iGaming affiliation, for the purpose of helping our partners by channelling high-quality users to the Company’s customers – primarily iGaming operators. Through the sites, Net Gaming generates high-quality users, primarily to global iGaming operators. The Company, which was founded in 2003, has just over 70 employees and is headquartered in Malta.

AI

Despite AI’s Rise, Fraud Teams Keep Growing — SEON 2026 Report

Published

3 days ago

March 4, 2026

Wladimir P.

despite-ai’s-rise,-fraud-teams-keep-growing-—-seon-2026-report

SEON, the command centre for immediate Fraud Prevention and AML Compliance, has unveiled AI Reality Check: 2026 Fraud & AML Leaders Report, the second iteration of its sector research, derived from a worldwide survey of 1,010 leaders in fraud, risk, and compliance spanning payments, fintech, financial services, retail, eCommerce, and gaming.

The figures reveal an unforeseen narrative: AI is ubiquitous, yet operations are not becoming easier to manage. Currently, 98% of organizations utilize AI in fraud and AML processes, with 95% expressing confidence in its effectiveness; meanwhile, headcount plans rose from 88% to 94% year-over-year, and 83% anticipate budget increases in 2026.

Complexity Is Surpassing Automation

AI has not lessened the workload — it has revealed the extent of work that has always existed. Fraud losses are increasingly approaching revenue growth, threats are advancing more rapidly, and disjointed systems restrict the true potential of AI at scale. Key year-over-year shift:

Leadership’s confidence in their teams’ performance is lagging. The number of leaders who disagreed with the statement, “fraud losses are growing faster than revenue,” dropped by almost 40% from the previous year

Inside the Numbers:

AI is baseline, not experimental

98% already integrate AI into daily workflows (only 2% still planning)
95% are confident AI can detect and prevent fraud (52% very confident)
Top use case: AI/ML for transaction monitoring (30%)

Fraud and AML investment keeps climbing

83% expect fraud/AML budgets to increase in 2026
94% plan to add at least one full-time hire (up from 88% in 2025)
85% plan to add a vendor, 49% plan to replace one

Fragmentation is the bottleneck

95% claim “some integration” between fraud and AML systems
Only 47% run fully integrated workflows; the rest rely on partial connections
80% say getting a unified view of data is challenging

For many, time-to-value remains slow

Only 10% go live in under two weeks
38% take 1–3 months, 24% take 4+ months
When implementations run long, top impacts include increased costs (52%) and prolonged fraud exposure (47%)

Teams are growing, not shrinking

94% plan to increase headcount despite automation gains
85% see AI agents as support/augmentation, not replacement (only 12% see eventual replacement)

Top fraud threats reported:

Account takeovers: 26%
Promo/discount abuse: 18%
Return fraud: 18%

“Fraud and financial crime were supposed to become more manageable as AI matured,” said Tamas Kadar, CEO and co-founder, SEON. “Instead, 2026 is the year leaders are confronting a more complicated reality. AI adoption is real, confidence is high, but the scale and pace of fraud — compounded by fragmented systems — continue to drive increased investment rather than reduced overhead. The bottleneck is no longer whether AI works. It’s everything around it: disconnected data, siloed teams, slow implementations. The organisations that pull ahead will be the ones that unify fraud and AML intelligence, shorten the distance between threats and controls, and treat integration as strategy, not plumbing.”

Fast-Growing Companies Invest in Integration Early

Organisations growing 51%+ are nearly twice as likely as slower peers to report that achieving unified visibility is “not very challenging.” They treat integration as infrastructure, not an IT project.

What’s Next: From “Does AI Work?” to “Can We Trust It?”

With adoption near-universal, the conversation is shifting to governance, explainability and accountability:

78% say decentralised digital identity will become central to fraud/AML
33% cite data privacy regulations (GDPR, CCPA) as the biggest external force shaping AML
25% point to criminals’ advancing use of AI and obfuscation techniques

The post Despite AI’s Rise, Fraud Teams Keep Growing — SEON 2026 Report appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Ashley McCulloch Vice President North America at Evoplay

Evoplay Names Ashley McCulloch Vice President North America

Published

3 days ago

March 4, 2026

Wladimir P.

evoplay-names-ashley-mcculloch-vice-president-north-america

Evoplay, the acclaimed game development studio, has named Ashley McCulloch as Vice President North America, strengthening its strategic emphasis on growth throughout the US and Canada.

McCulloch has over 15 years of experience that includes land-based, VLT, and online gaming. She has occupied high-level commercial positions at IGT and Light & Wonder and most recently worked as Director of Account Management North America at Inspired Gaming Group, where she led strategic account development and assisted with new market entry projects.

In addition to her commercial success, McCulloch serves as a board member for Women in Sports and Events, is part of Global Gaming Women, and was recognized in the 2024 Emerging Leaders in Gaming 40 Under 40, highlighting her influence in the industry.

At Evoplay, McCulloch will lead partnerships, regulatory licensing, product launches, and broader business development efforts as the provider speeds up its growth in the North American market.

Evoplay has secured a significant presence in the area, launching in Ontario via collaborations with prominent operators in the province, such as BetMGM and Caesars Entertainment.

In November 2025, Evoplay made a notable initial move into the United States by joining the lottery sector in Washington DC, establishing a connection to the US online gaming landscape.

With McCulloch’s hiring, the company aims to leverage this momentum and continue its expansion throughout regulated US states.

Ivan Kravchuk, CEO at Evoplay, said: “North America represents one of the most exciting growth opportunities for Evoplay, and Ashley McCulloch’s appointment is a major step forward in realising our ambitions in the region.

“Her extensive experience across land-based and online gaming, combined with her track record in commercial strategy, makes her the ideal person to lead our efforts as we scale.”

Ashley McCulloch, Vice President North America at Evoplay, added: “I’m very excited to be joining the Evoplay team at such a pivotal moment in its growth journey.

“The studio has built a strong reputation for high-quality content, and I look forward to developing partnerships and driving sustainable growth across North America.”

The post Evoplay Names Ashley McCulloch Vice President North America appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Africa

VeliGames Secures SiGMA Africa’s Industry Rising Star Award

Published

3 days ago

March 4, 2026

Wladimir P.

veligames-secures-sigma-africa’s-industry-rising-star-award

VeliGames, a game aggregation platform from VeliTech, has received the Industry Rising Star award at the SiGMA Africa 2026 Awards, highlighting the platform’s swift innovation and significant influence on African iGaming.

The Industry Rising Star award highlights a developing company that displays remarkable potential, creativity, and influence, rapidly positioning itself as a forthcoming leader in the iGaming sector. It emphasizes VeliGames’ dedication to providing not just a content pipeline, but also genuine innovation and a comprehensive growth engine for operators in developing markets.

“Winning the SiGMA Africa Award for Industry Rising Star 2026 is a proud moment for our team. From day one, we built VeliGames with African operators in mind, combining local-fit content, practical tooling, and pricing that makes sense on the ground. We back it all up with hands-on operational know-how from working in the region. That’s what being a true content partner looks like.” Irakli Kakhidze, CEO at VeliGames.

Tailored for Africa’s infrastructure challenges, device characteristics, and user habits, VeliGames provides a performance-oriented casino content layer aimed at thriving in areas where conventional, high-bandwidth aggregation methods struggle. Rather than solely competing based on catalogue size, VeliGames prioritizes the key factors that genuinely contribute to casino success in Africa: speed, accessibility, conversion, and session stability.

The platform delivers content in a highly efficient, mobile-centric setting designed to function dependably amid variable connectivity, restricted device storage, and brief gaming sessions, assisting operators in ensuring seamless gameplay and enhanced player experiences on a larger scale.

Alongside curated third-party titles, the platform includes exclusive in-house content:

VeliPlay: bold, crash-and-fast titles built for immersion, retention, and high replay value
Heaven of 7: high-impact slot content designed for strong engagement, session after session

Visit VeliTech at Stand 096 from March 3-5 to learn why VeliGames was honored as the Industry Rising Star. Discover live game demonstrations, witness performance features in action, and learn how operators can create unique iGaming brands with a platform designed for regional requirements.

The post VeliGames Secures SiGMA Africa’s Industry Rising Star Award appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.