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NeoGames Announces Fourth Quarter and Full Year 2020 Results
NeoGames S.A., a technology-driven provider of end-to-end iLottery solutions, announced financial results for the fourth quarter and fiscal year ended December 31, 2020.
Moti Malul, Chief Executive Officer of NeoGames, said: “We are proud to be reporting our results for the first time as a publicly traded company. The past year was pivotal for NeoGames and the execution of our strategic goals. The year started with a six-year extension of our contract with Sazka, our largest European customer. We built on that momentum with the expansion of our NeoPollard JV customer, the Virginia Lottery, into a full iLottery program that launched on July 1st. Next, we announced the first contract in Canada with AGLC in Alberta. The program launched rapidly in early October and is off to a successful start. We closed the year with the recently announced contract extension with our largest customer, the Michigan State Lottery, through July 2026. 2020 has definitely been transformational for NeoGames.”
“The year also marks positive signs for the growth of iLottery around the world. As regulators realize the potential value iLottery can provide to tightening governmental budgets, particularly during the uncertain times brought on by the COVID-19 pandemic, NeoGames continues to represent a trusted provider with superior technology and premium content driving the most profitable iLottery programs. In the U.S. iLottery market, according to Eilers & Krejcik Gaming, a leading gaming industry research firm, our NeoPollard JV is the market leader with a 70% market share of iLottery sales during the fourth quarter of 2020. Entering 2021, on the back of our successful IPO, we believe NeoGames remains well-positioned to continue to capitalize on the current landscape as a leader in the rapidly expanding global iLottery market,” continued Malul.
Fourth Quarter 2020 Financial Highlights
- Revenues were $14 million during the fourth quarter of 2020, compared to $9 million during the fourth quarter of 2019, representing an increase of 56.4% year-over-year. In addition, the Company’s share of NPI revenues was $4.5 million during the fourth quarter of 2020, compared to $0.9 million during the fourth quarter of 2019, representing an increase of 391% year-over-year. The total of revenues and the Company’s share of NPI’s revenues was $18.5 million during the fourth quarter of 2020 compared to $9.9 million during the fourth quarter of 2019, representing an increase of 87.3% year-over-year.
- Comprehensive income was $2.5 million, or $0.11 per share, during the fourth quarter of 2020, compared to loss of $(0.6) million, or $(0.03) per share, during the fourth quarter of 2019.
- Adjusted EBITDA was $9.0 million during the fourth quarter of 2020, compared to an Adjusted EBITDA of $3.5 million during the fourth quarter of 2019, representing an increase of 160.6% year-over-year.1
- Network NGR was $142 million during the fourth quarter of 2020, compared to $63 million during the fourth quarter of 2019, representing an increase of 125.6% year-over-year.1
Full Year 2020 Financial Highlights
- Revenues were $49.2 million for 2020, compared to $33.1 million for the prior year, representing an increase of 48.8% year-over-year. The Company share of NPI revenues was $9.5 million for 2020, compared to $2 million during the prior year, representing an increase of 387.5% year-over-year. The total of revenues and the Company’s share of NPI’s revenues was $58.7 million during the full year of 2020 compared to $35.0 million during the prior year, representing an increase of 67.7% year-over-year.
- Comprehensive income was $6.5 million, or $0.29 per share, for 2020, compared to loss of $(3.9) million, or $(0.18) per share, for the prior year.
- Adjusted EBITDA was $28.7 million for 2020, compared to an Adjusted EBITDA of $11.9 million for the prior year, representing an increase of 141.7% year-over-year.1
- Network NGR was $448 million for 2020, compared to $203 million for the prior year, representing an increase of 120.7% year-over-year.1
Full Year 2020 Business Highlights
- On November 24, 2020, the Company completed an initial public offering of 5,528,650 ordinary shares, no par value, including 721,128 ordinary shares sold pursuant to the full exercise of the underwriters’ overallotment option. The offering consisted of 2,987,625 ordinary shares offered by the Company and 2,541,025 ordinary shares offered by certain selling shareholders. The ordinary shares were sold at an offering price of $17.00 per ordinary share for an aggregate offering value of $94.0 million.
- Signed a four-year extension with the Michigan Lottery on the iLottery contract, a joint agreement between Pollard Banknote Limited and NeoGames. Under this agreement, which became effective in December 2020, the contract is extended through July 2026 from the previous end date of July 2022. NeoGames, along with Pollard Banknote, will continue to serve as the Michigan Lottery’s iLottery partner.
- On July 1, 2020, the Company launched the Virginia iLottery program, which has quickly become one of the most successful launches of a full iLottery program in the United States where in Q4 2020 iLottery represented 25% of total lottery sales according to Eilers & Krejcik. The agreement with NPI also included a significant contract extension of five years to October 2026, with an option for extension to 2031.
- On September 30, 2020, the Company launched the only regulated gaming website in Alberta, Canada, with NPI servicing the entire online gaming suite for a seven-year initial term and a five-year extension option.
- Earlier in the year on March 31, 2020, the Company entered into an extension agreement with Sazka a.s as its full-service iLottery and iGaming provider. The new extension lengthened the term of the partnership until the end of December 2025.
Recent Business Highlights
- On February 22, 2021, the Company announced the go-live of its eInstants games with the Austrian Lotteries, launching the Company’s first set of games on the win2day online gaming site. In connection with the agreement, the Company will grant the Austrian Lotteries (Österreichische Lotterien) full access to its NeoGames Studio extensive portfolio of premium, award-winning eInstant games. The deal will provide Austrian Lotteries players with a steady, ongoing stream of new, unique, and exciting games, enhancing the overall gaming experience offered by the Lottery.
Guidance
The Company expects revenues, together with its NPI revenues interests, for the full year ending December 31, 2021 to be between $65 million and $69 million.
Conference Call & Webcast Details
NeoGames will host a live conference call and audio webcast on Thursday, March 11, 2021 at 8:30 a.m. Eastern Time, during which management will discuss the Company’s fourth quarter results and provide commentary on business performance. A question and answer session will follow the prepared remarks.
The conference call may be accessed by dialing (833) 301-1152 for U.S. domestic callers or (914) 987-7393 for international callers. Once connected with the operator, please provide the conference ID of 5833618.
A live audio webcast of the earnings conference call may be accessed on the Company’s website at ir.neogames.com. The replay of the audio webcast and accompanying presentation will be available on the Company’s investor relations website through 11:59 p.m. Eastern Time on Wednesday, March 17, 2021.
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Leading igaming operators ComeOn Group and evoke, one of the world’s leading betting and gaming companies with internationally renowned brands including William Hill, 888 and Mr Green, are pleased to announce a strategic partnership to bring the 888 brand to the regulated Dutch market.
evoke has selected ComeOn Group to operate the 888 brand in the Netherlands. The partnership will see ComeOn Group operate 888.nl under a local Dutch license, leveraging its proprietary casino and sportsbook platform to deliver a world-class gaming experience to the Dutch audience.
Players can look forward to a wide range of slots, exclusive games, leading sportsbook odds and an immersive selection of live casino tables, ensuring a premium and diverse gaming experience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “evoke is one of the biggest betting and gaming companies in our industry, and we are honoured to be entrusted with the operation of 888, one of the most iconic consumer brands in gaming. Our proprietary technology, strong market expertise, and commitment to responsible gaming will ensure that Dutch players enjoy a best-in-class experience with the 888 brand.”
Davide Marchisio, Director of Corporate Development at evoke, said: “888 is an incredibly strong global brand, and partnering with a world-class operator gives us the opportunity to provide the amazing 888 experience to our Dutch fans. We are excited about launching 888 to Dutch customers and further expanding into regulated markets with a high-impact, low-capital partnership aligned to evoke’s strategy. The partnership highlights ComeOn Group’s commitment to expanding its presence in key regulated markets alongside the recognised and trusted brand 888, while reinforcing 888’s position as a premier gaming brand globally.”
The post 888 to launch in Netherlands with strategic partnership between evoke and ComeOn Group appeared first on European Gaming Industry News.
Brightstar Lottery PLC has reported the financial results for the second quarter ended June 30, 2025.
“We achieved several important milestones over the last few months. We secured the Italy Lotto license through November 2034, closed the sale of our Gaming & Digital business for $4 billion in cash, and announced plans to return significant capital to shareholders. With a singular focus on lottery and unmatched industry expertise, we are well positioned to create value for all stakeholders with our mission to elevate lotteries and inspire players around the world,” said Vince Sadusky, CEO of Brightstar.
“Our second quarter results reflect sustained global demand for instant ticket and draw games. We are investing in key initiatives to drive sustainable, long-term growth, while also delivering structural cost reductions to right-size the business. The Company’s attractive profit profile and strong, predictable cash flows support our balanced approach to capital allocation,” said Max Chiara, CFO of Brightstar.
Key Highlights
• Successful completion of Gaming & Digital sale for approximately $4.0 billion of net cash proceeds on July 1, 2025.
• Secured several meaningful contract wins and extensions including a nine-year Lotto operator license in Italy, an eight-year contract in Missouri which includes a fully-integrated OMNIA retail and digital solution, and several multi-year instant ticket printing contract extensions.
• Expanding OPtiMa 3.0 cost reduction programme to $50 million to right-size the business following the Gaming & Digital sale.
Second Quarter 2025 Financial Highlights
Second quarter revenue was $631 million, up 3% or stable at constant currency.
• Instant ticket & draw same-store sales increased across geographies with Italy increasing 3.7%, U.S. higher by 0.6%, and Rest of World climbing 8.4%.
• Product sales rose 59% on higher instant ticket printing and terminal sales.
• Foreign currency translation had a positive impact on growth.
• Growth from the drivers above was partially offset by elevated U.S. multi-state jackpot activity and associated LMA incentives in the prior year.
Loss from continuing operations was $60 million compared to income from continuing operations of $84 million in the prior year period.
• Incurred a foreign exchange loss versus a foreign exchange gain in the prior year, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt.
• Operating income was lower, driven by the high profit flow-through from elevated U.S. multi-state jackpot sales and associated LMA incentives in the prior year and restructuring charges related to the expanded OPtiMa 3.0 cost reduction programme in the current year.
• Increased provision for income taxes.
• Dynamics noted above were partially offset by reduced interest expense.
Adjusted EBITDA was $274 million compared to $290 million in the prior-year period, demonstrating resiliency despite incremental investments in the business and multi-state jackpot and LMA dynamics.
• Prior year results include the high profit flow-through from elevated U.S. multi-state jackpot sales and associated LMA incentives.
• Selling, general, and administrative costs were modestly higher as ongoing investments in the business were partially offset by OPtiMa cost savings.
• The Q2’25 period benefited from positive foreign currency translation.
Diluted loss per share from continuing operations was $0.47 compared to diluted earnings per share from continuing operations of $0.21 in the prior year. Adjusted diluted earnings per share from continuing operations was $0.12 compared to $0.20 in the prior year, primarily driven by lower operating income.
YTD 2025 Financial Highlights
Year-to-date revenue of $1.2 billion compares to $1.3 billion in the prior-year period.
• The decline was due to higher U.S. multi-state jackpot activity and associated LMA incentives in the prior year.
• Global instant ticket & draw same-store sales rose 1.2%.
Loss from continuing operations was $52 million compared to income from continuing operations of $200 million in the prior year period.
• Lower operating income, primarily due to the items affecting Adjusted EBITDA as noted below.
• Foreign exchange loss versus foreign exchange gain in the prior year, primarily reflecting the non-cash impact of fluctuations in the EUR/USD exchange rate on debt.
Adjusted EBITDA of $524 million compares to $617 million in the prior-year, primarily driven by high profit flow-through from elevated U.S. multi-state jackpot sales and associated LMA incentives in the prior year, partially offset by positive foreign currency translation.
Diluted loss per share from continuing operations was $0.59 compared to diluted earnings per share from continuing operations of $0.56 in the prior year. Adjusted diluted earnings per share from continuing operations of $0.20 compares to $0.47 in the prior year primarily driven by lower operating income, partially offset by reductions in net interest and income tax expense.
Net debt was $5.2 billion compared to $4.8 billion at December 31, 2024. The increase was primarily driven by an approximate $340 million impact from fluctuations in the EUR/USD exchange rate. Net debt leverage was 3.0x pro forma for $2 billion debt reduction completed in July.
Cash and Liquidity Update
Total liquidity was $2.9 billion as of June 30, 2025 with $1.3 billion in unrestricted cash and $1.6 billion in additional borrowing capacity from undrawn credit facilities.
Other Developments
The Company plans to launch a $250 million accelerated share repurchase programme (ASR) by entering into an accelerated share repurchase agreement with a counterparty bank. The Company plans to execute the ASR as part of its $500 million share repurchase authorization outlined below and in accordance with the share repurchase authorisation provided by the Company’s shareholders at the Company’s 2025 Annual General Meeting. The Company has been informed by De Agostini S.p.A., that it does not intend to participate in the ASR.
The Company’s Board of Directors declared a quarterly cash dividend of $0.20 per common share with a record date of August 12, 2025 and a payment date of August 26, 2025.
Completed the sale of the Gaming & Digital business on July 1, 2025. The Company received approximately $4.0 billion of net cash proceeds that are expected to be allocated in the following manner:
$2.0 billion used to reduce debt (completed in July 2025).
• Redeemed in whole the 4.125% Senior Secured U.S. Dollar Notes due April 2026 and the 3.500% Senior Secured Euro Notes due June 2026.
• Prepaid €300 million of the Term Loan Facilities due January 2027.
• The remaining amount was allocated to prepay the Revolving Credit Facilities due July 2027.
$1.1 billion to be returned to shareholders.
• The Company’s Board of Directors declared a special cash dividend to common shareholders in the amount of $3.00 per share. The record date of the distribution was July 14, 2025, and it is payable July 29, 2025.
• In addition, the Board authorized a $500 million, two-year share repurchase programme. The new authorisation replaces the Company’s existing share repurchase programme.
$500 million to partially fund upcoming Italy Lotto license payments.
$400 million to be used for general corporate purposes.
The U.S. federal income tax consequences of distributions by the Company will depend, in part, on whether the Company has current or accumulated earnings and profits (“E&P”), as determined under U.S. federal income tax principles. Based on preliminary estimates, the Company does not expect to have current E&P for fiscal year 2025 or accumulated E&P from prior fiscal years that would offset the current year expected E&P deficit. Accordingly, the Company anticipates that the special dividend, the Q1 dividend paid on June 12, and any future dividends paid in the current fiscal year will be treated for U.S. income tax purposes as a non-taxable return of capital to the extent of a shareholder’s basis in its shares, and thereafter as capital gain, although no assurances can be provided because the determination of E&P is a full-year calculation which depends upon facts that are not known as of the date hereof.
FY’25 Outlook: Adjusted EBITDA Reaffirmed, Cash Flow Improved
• Revenue of approximately $2.50 billion; adjusting revenue down $50 million compared to the previous outlook to reflect a timing shift in product sales and increased amortization related to Italy Lotto upfront license fee (which is treated as contra-revenue).
• Adjusted EBITDA of approximately $1.10 billion, in line with the previous outlook as incremental benefit from foreign currency translation is offset by higher-than-expected U.S. multi-state jackpot and LMA impacts.
• Net cash used in operating activities of approximately $275 million reflects a $75 million improvement versus the previous outlook driven by interest, income taxes, and other working capital items.
• Capital expenditures of approximately $375 million, a $75 million improvement from the previous outlook to reflect timing shifts related to recent contract extensions.
• Increasing FY’25 EUR/USD assumption to 1.12.
The post Brightstar Lottery Reports Second Quarter 2025 Results appeared first on European Gaming Industry News.
Dodo, the newest player in the iGaming space, officially launches as a dedicated network built entirely around the fast-rising crash and instant games. Created to meet rising player demand, it offers top game reviews, trusted casino listings, and free demo play—all in one place.
Dodo answers a clear market need: a centralized destination designed specifically for crash gaming enthusiasts. Dodo network spans 8 specialized verticals: CrashDodo, WheelDodo, CoinflipDodo, DiceDodo, HiloDodo, LimboDodo, MinesDodo, and PlinkoDodo—each dedicated to a specific instant game format.
“We created Dodo because it was time for a site that treats crash games as a category of their own — not a subgenre or a passing trend. With the format’s rise in popularity, players need a dedicated space where they can explore, compare, and play,” said Ethan Thompson, content lead at Dodo.
Dodo also reflects a wider trend—the growing intersection of crash mechanics and crypto gambling. As localisation and hybrid formats expand, Dodo steps in as a natural platform for discovery, guidance and connection between players and operators.
Dodo’s Key Features:
• Curated crash and instant game selections with a free play option
• Game reviews, expert tips, and easy-to-follow player guides
• Trusted casino listings tailored for crash games fans
• Designed with crypto players in mind, offers crypto-related insights.
The post Meet Dodo: The New Home for Crash Gaming Fans appeared first on European Gaming Industry News.
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