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Newgioco Announces Q1 2020 Financial Results
Newgioco Group has announced its operating and financial results for Q1 2020. The Company reported a strong quarter, in spite of global economic difficulties and shutdowns caused by COVID-19.
Newgioco reported a year over year increase in revenue from $9.3 million to $10.2 million generated from $116 million in turnover (betting handle) during Q1 2020 which represents an increase in revenue of 9.8% over Q1 2019. The growth in revenue may be attributed to the ongoing conversion to online and mobile gaming from the traditional land-based venues and the market adoption of Newgioco’s proprietary sports book solution.
“As a newly NASDAQ listed company during a global pandemic, I am proud of the Newgioco team. They have raised the bar not only from a product standpoint, but the financial team has demonstrated remarkable flexibility and elevated internal standards in terms of analytics and reporting procedures to provide more transparency and quite frankly better reporting metrics for our investors,” Mark Korb, CFO of Newgioco Group, said.
The Company saw a decrease of 11.8% in general and administrative expenses from $3.2 million to $2.8 million and a decrease in selling expenses of 16.1% from $7.4 million to $6.2 million for the year over year comparable quarters as result of a disciplined approach to reducing costs and trade show participation.
“Essentially this quarter reflects our commitment to return Newgioco operations to profitability after we made strategic changes to our board and executive management in June 2019. These necessary changes were the early building blocks for the execution of our U.S. go-to-market plans. Our Elys betting software is performing as effectively as it was designed for, and this has translated not only to substantial improvement in business metrics but also into acquisition and retention of new customers,” Michele (Mike) Ciavarella, CEO of Newgioco Group, said.
“Newgioco has one of the most modern and innovative sports betting value propositions in the market and we are now preparing to obtain GLI certification of our U.S. facing products. Our state-of-the-art technology stack is driving the innovation of managing risk on sports books and we expect to launch this unique alternative wagering system to U.S. operators in 2020. Newgioco has designed a user centric multi-channel solution that has the flexibility to serve throughout the U.S. from destination casino operators to franchise distribution networks such as sports bar and restaurant venues or convenience stores, kiosks and coffee shops,” he added.
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game-mechanics
Spinmatic updates Plata o Plomo with Hold&Win bonus overhaul
Spinmatic has announced Plata o Plomo Hold&Win, a new iteration of its Plata o Plomo slot built around a revised Hold&Win bonus feature.
The company said it has changed how bonus-stage winnings are determined compared with the original game’s “random rewarding system.” In the updated version, Spinmatic said “guesswork” has been removed and that “every player now operates within a clearly defined multiplier framework.”
Spinmatic is also adding what it calls a “Super Win” incentive to the bonus journey. The company said that by reaching the end of the 3rd stage, “players are now guaranteed a significant payout.”
Mechanically, Spinmatic said the title follows its earlier Hold&Win integration in Frank Pantera, but scales the feature with a larger coin respin grid. While Frank Pantera used a 3×5 grid, Plata o Plomo Hold&Win uses an expanded 4×5 grid (20 slots), which Spinmatic said is designed to increase coin-landing opportunities and align the bonus feature visually with the base game reel structure.
Spinmatic did not disclose launch markets, operator partners, certification status, RTP/volatility data, or performance metrics for the updated title.
The post Spinmatic updates Plata o Plomo with Hold&Win bonus overhaul appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
bet365
bet365 Launches in Michigan, Bringing its Global Betting Experience to a Competitive Market
bet365, a leading global online sportsbook and casino, announced its official launch in Michigan, marking its entry into its 17th U.S. state and continuing its rapid North American expansion. The launch also comes as bet365 is named as an Official Sports Betting Partner of the Detroit Tigers.
Michigan customers will have access to bet365’s globally recognized platform, featuring competitive odds, early lines, and industry-leading in-play betting and its signature Early Payout offer, a fan-favorite feature that allows customers to receive winnings early when their team takes a decisive lead. The platform also includes a fully integrated casino experience, with features such as the free daily Prize Matcher, which allows customers to play daily for prizes worth up to $5000 weekly.
To celebrate the launch, bet365 is offering new customers a “Bet $10, Get $365” promotion for their sportsbook and a “get 1000 free spins and up to $1000 deposit match” for casino, giving players immediate value and a compelling reason to try the platform.
“We’re excited to bring bet365 to Michigan and introduce a better way to bet. This is a mature market with knowledgeable fans, and we’re confident our product stands apart. Features like our Early Payout offer, combined with our in-play experience and integrated casino, give players more ways to engage and more reasons to choose bet365,” said Trip Stoddard, Head of Business Development at bet365.
As part of its commitment to the state, bet365 is also focused on embedding itself within Michigan’s iconic sports and entertainment landscape. The company announced its partnerships with the Detroit Tigers, Detroit Red Wings, and 313 Presents as part of its launch and goal of creating meaningful connections with fans and enhancing how they engage with their favorite experiences. As part of the partnership, bet365 will be integrated throughout Comerica Park via a range of high-visibility placements, appear during game broadcasts through virtual signage, activate across Tigers radio and digital channels, and alongside fan-focused initiatives such as ticketing and merchandise programs throughout the season. In addition, bet365 will serve as a presenting partner of the Detroit SportsNet’s Tigers coverage.
The Michigan launch also reflects bet365’s broader U.S. strategy to expand into all legal markets and establish itself as a true national competitor. By bringing a refined product built on learnings from prior state launches, bet365 is positioned to compete with established operators while offering a differentiated experience.
As part of its launch, bet365 will continue to roll out its “Winning Is Everything” brand campaign across Michigan, reinforcing its commitment to players who are serious about their play and expect more from their sportsbook. Sports fans across Michigan will be able to access a full range of betting options across major leagues, including the NFL, NBA, MLB, NHL, and more.
The post bet365 Launches in Michigan, Bringing its Global Betting Experience to a Competitive Market appeared first on Americas iGaming & Sports Betting News.
José Javier Martí COO of Zitro Digital
Zitro Digital Enters into a New Partnership with Solbet
Zitro Digital, the online arm of global gaming supplier Zitro, continues to accelerate its expansion across Latin America with the launch of a new partnership with Solbet, one of Paraguay’s leading online operators. The deal represents a significant step in Zitro Digital’s drive to bring its content to new audiences throughout the region.
Solbet players now have access to Zitro Digital’s full portfolio — an extensive range of slots and Video Bingo titles built on the company’s land-based success, complemented by exclusive digital-first content. With this agreement, Zitro Digital adds another strong operator partnership to its growing operator base, reinforcing its commitment to delivering high-quality, trusted content to players in regulated markets worldwide.
“For Solbet, it is essential to continue expanding our gaming portfolio with content from globally recognized providers such as Zitro Digital. This partnership allows us to offer our players a high-quality gaming experience, aligned with market trends and their preferences,” said Rodrigo Iturralde, CEO of Solbet Paraguay.
“Partnering with an established operator like Solbet is a fantastic way to introduce our portfolio to players in what is a key market for us. We are committed to supporting our partners with content that players already know and trust, and we look forward to seeing our titles perform on Solbet’s platform,” said José Javier Martí, COO at Zitro Digital.
The post Zitro Digital Enters into a New Partnership with Solbet appeared first on Americas iGaming & Sports Betting News.
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