Connect with us

Latest News

INTRALOT Announces First Quarter 2021 Financial Results

Published

on

Reading Time: 14 minutes

INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the three-month period ended March 31st, 2021, prepared in accordance with IFRS.

Group Revenue at €102.0m in 1Q21 (+9.3% y-o-y).

 

EBITDA in 1Q21 at €24.4m (+55.4% y-o-y), while Adjusted EBITDA at €20.8m (+56.4% y-o-y).

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

NIATMI (Net Income After Tax and Minority Interest) from continuing operations at €-7.3m, improved by 57.8% compared to a year ago.

 

North America operations, under Intralot Inc., achieved significant y-o-y growth (Revenue +21.8%, EBITDA +81.8%).

Group OPEX in 1Q21 is better by 8.3% y-o-y, with Greek entities OPEX lower by 25.7% y-o-y, without taking into consideration the capital structure optimization expenses.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

Operating Cash Flow at €21.6m in 1Q21 (+127.4% y-o-y).

 

Group Net CAPEX in 1Q21 was €2.9m, lower by 48.2% compared to a year ago.

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Group Cash at the end of 1Q21 at €90.6m.

 

Net Debt at €643.7m at the end of 1Q21.

 

The COVID-19 pandemic impact for 1Q21 has been restrained in the vicinity of €1.5m at Group’s EBITDA level.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

In May 2021, INTRALOT announced the sale of its 80% stake in “Intralot do Brasil”, to SAGA, the only other shareholder of Intralot do Brasil, holding 20% of the company, for a total cash consideration of €0.7m. INTRALOT will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction.

 

Also in May 2021, INTRALOT announced that its subsidiary in The Netherlands INTRALOT BENELUX BV, in co-operation with the Nederlandse Loterij, completed the transition of the operator’s full gaming portfolio enabled by the innovative LotosX platform, and rolled out 4,300 Photon terminals along with its robust signage solution empowering further the retail channel of Nederlandse Loterij’s Lottery games and Sports Betting offering.

 

Group Headline Figures

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

  (in € million) 1Q21 1Q20 % LTM  
  Change  
           
  Revenue (Turnover) 102.0 93.3 9.3% 373.5  
  GGR 80.5 74.3 8.3% 299.1  
  OPEX1 -23.2 -25.3 -8.3% -93.1  
  EBITDA2 24.4 15.7 55.4% 74.9  
  EBITDA Margin (% on 23.9% 16.8% +7.1pps 20.1%  
  Revenue)  
           
  EBITDA Margin (% on GGR) 30.3% 21.1% +9.2pps 25.0%  
  Adjusted EBITDA3 20.8 13.3 56.4% 63.3  
  Capital Structure -5.0 -0.3 -11.5  
  Optimization expenses  
           
  D&A -16.0 -18.2 -12.1% -66.3  
  EBT -3.4 -14.9 77.2% -82.6  
  EBT Margin (%) -3.3% -16.0% +12.7pps -22.1%  
  NIATMI from continuing -7.3 -17.3 57.8% -94.1  
  operations  
           
  Total Assets 612.1 755.3  
  Gross Debt 734.3 753.1  
  Net Debt 643.7 611.1  
  Operating Cash Flow from 21.6 9.5 127.4% 49.8  
  total operations  
           
  Net CAPEX -2.9 -5.6 -48.2% -33.3  
             

 

INTRALOT Chairman & CEO Sokratis P. Kokkalis noted:

“First quarter results show strong Revenue and EBITDA growth, driven by robust operational performance and successful implementation of cost containment measures, while maintaining a strong cash position. At the same time, we continue to sharpen our focus on strategic markets with higher margins, launch new operations, such as Croatia, and roll out our new product portfolio, overall pointing to a very healthy operational performance for 2021.”

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • OPEX presented exclude the capital structure optimization expenses.

 

  • The Group defines “EBITDA” as “Operating Profit/(Loss) before tax” adjusted for the figures “Profit/(loss) from equity method consolidations”, “Profit/(loss) to net monetary position”, “Exchange Differences”, “Interest and related income”, “Interest and similar expenses”, “Income/(expenses) from participations and investments”, “Write-off and impairment loss of assets”, “Gain/(loss) from assets disposal”, “Reorganization costs” and “Assets’ depreciation and amortization”.

 

  • Calculated as Proportionate EBITDA of fully consolidated entities including EBITDA from equity investment in Taiwan.

 

OVERVIEW OF RESULTS

 

REVENUE

Reported consolidated revenue posted an increase compared to 1Q20, leading to total revenue for the three-month period ended March 31st, 2021, of €102.0m (+9.3%).

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Lottery Games was the largest contributor to our top line, comprising 63.0% of our revenue, followed by Sports Betting contributing 19.1% to Group turnover. VLTs represented 8.7% and Technology contracts accounted as well for 8.7% of Group turnover, while Racing constituted the 0.5% of total revenue of 1Q21.

 

  • Reported consolidated revenue for the three-month period is higher by €8.7m year over year. The main factors that drove top line performance per Business Activity are:

 

  • €+1.3m (+3.9%) from our Licensed Operations (B2C) activity line, with the increase attributed mainly to higher revenue in:

 

  • Malta (€+2.8m),  with  the  variance attributable mainly to the COVID-19 impact at the end of the first quarter of 2020.

 

The increase in our Licensed Operations activity line was partially mitigated by the lower performance in:

 

  • other Licensed Operations (referring to Brazil and Argentina), which dropped by €-1.5m, impacted mainly by the FX currency translation.

 

  • €+5.3m (+65.4%) from our Management (B2B/ B2G) contracts activity line with the variance driven by:
  • the surplus from our Turkish operations (€+3.1m), driven by Bilyoner’s improved top line performance, favored by the strong growth of the online market. In 1Q21, the local Sports Betting market expanded close to 2.0 times y-o-y, with the online segment representing close to 92% of the market at the end of 1Q21. Performance in Euro terms was partially mitigated by the headwinds in Turkish lira (32.3% Euro appreciation versus a year ago – in YTD average terms),

 

  • the launch of US Sports Betting in Montana and Washington, D.C. in late 2020 (€+1.3m), and

 

  • Morocco’s (€+0.9m or +31.2% y-o-y) improved performance, due to the COVID-19 impact in late 1Q20.

 

  • €+2.1m (+4.0%) from our Technology and Support Services (B2B/ B2G) activity line, with the increase attributed mainly to:

 

  • our US operations’ increased revenue (€+5.5m), mainly driven by the strong growth in our Lottery operations, while further boosted by a significant jackpot in January 2021, despite the effect from the adverse USD movement (9.1% Euro appreciation versus a year ago — in YTD average terms) and the lower merchandise sales in the current period.

 

The increase in our Technology and Support Services activity line was partially mitigated by the lower performance in:

 

  • The Netherlands (€-1.2m), impacted by the revised commercial terms which affected half of the first quarter of 2020 vs. full quarter effect in 2021,

 

  • Australia (€-1.1m), driven mainly by one-off merchandise sales in 1Q20, as well as the phasing-out of COVID-19 impact, while partially offset by the favorable currency movement, and

 

  • sales from other jurisdictions (€-1.1m), impacted mainly by lower merchandise sales in the current period and the COVID-19 impact.

 

  • Constant currency basis: In 1Q21, revenue — net of the negative FX impact of €13.2m — reached €115.2m (+23.5% y-o-y).

 

GROSS GAMING REVENUE & Payout

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Gross Gaming Revenue (GGR) from continuing operations concluded at €80.5m in 1Q21, posting an increase of 8.3% (or €+6.2m) year over year, attributable to:

 

  • the increase in the non-payout related GGR (€+7.7m vs. 1Q20), driven mainly by the increased top line contribution of our US operations, as well as the improved performance of Bilyoner in the current period.

 

The GGR increase was partially counterbalanced by:

–     the drop in our payout related GGR (-10.9% y-o-y or €-1.5m), driven mainly by the higher average payout ratio across all licensed operations in 1Q21 and especially in Malta, combined with the adverse FX impact from our licensed operations in Latin America (+2.8% y-o-y on wagers from licensed operations4). 1Q21 Average Payout Ratio5 increased by 5.5pps vs. LY (64.0% vs. 58.5%), affected mainly by the higher weighted contribution from our operations in Malta.

 

  • Constant currency basis: In 1Q21, GGR — net of the negative FX impact of €10.1m — reached €90.6m (+21.9% y-o-y).

 

OPERATING EXPENSES6 & EBITDA7

  • Total Operating Expenses decreased by €2.1m (or 8.3%) in 1Q21 (€23.2m vs. €25.3m in 1Q20). The variance is largely driven by the lower operating expenses across many key regions, such as the US and Morocco, and especially in the HQ, following cost savings and COVID-19 mitigation actions. The decrease was further supported by lower D&A in the current period, while it was only partially offset by the higher advertising costs in Bilyoner.

 

  • Other Operating Income from continuing operations concluded at €5.5m, presenting an increase of 52.8% y-o-y (or €+1.9m), driven by higher equipment lease income in the USA.

 

  • EBITDA, from continuing operations, amounted to €24.4m in 1Q21, posting an increase of 4% (or €+8.7m) compared to the 1Q20 results from continuing operations. 1Q21 Organic performance8 was boosted by the significant growth of our US operations in both Lottery and the new Sports Betting stream, Bilyoner’s improved performance and the operating expenses containments across many jurisdictions. The EBITDA increase was partially counterbalanced by Malta’s higher average payout ratio in 1Q21, a one-off revenue recognition in Australia in 1Q20, the revised commercial terms in Netherlands, as well as the adverse FX impact8 of currencies movement across many key markets (mainly US and Turkey).

 

  • Licensed Operations Revenue also include a small portion of non-Payout related revenue, i.e., value-added services, which totaled €0.8m and €0.4m for 1Q21 and 1Q20, respectively.
  • Payout ratio calculation excludes the IFRS 15 impact for payments to customers.

 

  • Operating Expenses analysis excludes expenditures related to capital structure optimization.

 

  • EBITDA analysis excludes Depreciation & Amortization, and expenditures related to capital structure optimization.

 

  • CPI adjusted for Turkey and Argentina (proxy).

 

  • On a yearly basis, EBITDA margin on sales improved to 23.9%, compared to 16.8% in 1Q20 (+7.1pps), as a result of revenue growth (mainly in the US and Turkey), combined with operating expenses containments across many key regions (mainly in HQ, US and Morocco).

 

  • LTM EBITDA rose to €74.9m, up by 13.1% vs. FY20.

 

  • Constant currency basis: In 1Q21, EBITDA, net of the negative FX impact of €3.9m, reached €28.3m (+80.3% y-o-y).

 

EBT / NIATMI

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

  • EBT in 1Q21 totaled €-3.4m, compared to €-14.9m in 1Q20, with the key drivers of the improvement being:

 

  • the impact of the increased EBITDA (€+8.7m vs. 1Q20), as described above,

 

  • the better FX results (€+4.2m vs. 1Q20), as a result of the USD and other currencies movement against Euro, as well as the positive effect from the reclassification of FX reserves to Income Statement applying IFRS 10, and

 

  • the decreased D&A (€+2.2m), due to increased impairments in the previous periods.

 

With the increase at EBT level being partially offset by:

 

–  the higher capital structure optimization expenses in 1Q21 (€-4.7m).

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Constant currency basis: In 1Q21 EBΤ, adjusted for the FX impact, reached €+1.0m, from €-14.1m in 1Q20.

 

  • NIATMI from continuing operations in 1Q21 concluded at €-7.3m compared to €-17.3m in NIATMI from total operations in 1Q21 amounted to €-8.2m (improved by €9.4m vs. a year ago), including the performance of the discontinued operations in Bulgaria and Peru.

 

  • Constant currency basis: NIATMI (total operations) in 1Q21, on a constant currency basis, reached €-10.3m from €-17.4m in 1Q20.

 

CASH-FLOW

 

  • Operating Cash-flow in 1Q21 amounted to €21.6m, increased by €12.1m, compared to 1Q20. Excluding the operating cash-flow contribution of our discontinued operations (mainly Bulgaria) and the capital structure optimization expenses paid, the cash-flow from operating activities is higher by €15.9m vs. a year ago and is largely driven by the positive variance in Income Taxes paid (€+12.2m), attributed to Income Tax returns during the current period vs. payments in 1Q20, and the higher recorded EBITDA y-o-y from continuing operations (€+8.7m), while partially offset by the adverse working capital movement of €-5.5m (€-7.3m in 1Q21, vs. €-1.8m in 1Q20).

 

  • Adjusted Free Cash Flow9 in 1Q21 increased by €24.4m to €4.1m, compared to €-20.3m a year The main contributors to this variance were the positive swing in the Income Taxes Paid (€+12.2m), following an income tax return in 1Q21, the higher recorded EBITDA (€+8.7m y-o-y), and the lower Net Dividends paid (€+2.5m), driven mainly by Inteltek’s dividend paid in 1Q20 as part of settlement procedures after its contract discontinuation. Excluding Parent company tax audit payments and returns, as well as Inteltek’s contract discontinuation impact in the previous period, 1Q21 Adjusted Free Cash Flow stands at €-1.1m, or €+8.3m above 1Q20 levels.
  • Calculated as EBITDA – Maintenance CAPEX – Cash Taxes – Net Cash Finance Charges (excluding refinancing charges – Net Dividends Paid; all finance metrics exclude the impact of discontinued operations.

 

  • Net CAPEX in 1Q21 was €2.9m, compared to €5.6m in 1Q20, significantly decreased following the completion of prior years’ investments and projects. Headline CAPEX items in 1Q21 include €0.9m towards R&D and project pipeline delivery, and €0.9m in the US. All other net additions amount to €1.1m for 1Q21. Maintenance CAPEX accounted for €0.8m, or 28.0% of the overall capital expenditure in 1Q21, from €1.6m or 28.1% in 1Q20.

 

  • Net Debt, as of March 31st, 2021, stood at €643.7m, decreased by €7.4m compared to December 31st, 2020. The Net Debt movement was impacted primarily by the Net Investments (€-13.3m, referring mainly to Intralot de Peru sale impact), the bonds IFRS treatment positive effect (€-9.3m), as well as an income tax return in the first quarter of 2021 related to the Parent Company tax audit payments of the previous periods (€-5.2m). The Net Debt decrease was only partially offset by the Restricted Bank Deposits for the period (€+3.2m), the payments towards Capital Structure Optimization (€+3.1m), and the investments towards the growth of our business, mainly for our projects in the US and Croatia (€+1.9m). Normal course of business in the Net Debt movement reflects March coupon payments and the adverse Working Capital, that fully offset the positive Operating Cash Flows.

 

CORONAVIRUS PANDEMIC IMPACT UPDATE

The economic fallout from COVID-19 continued to affect business activities in the beginning of 2021, and restrictions in most of the regions across the world were still enforced to cope with the spread of the pandemic. However, as vaccinations are progressing, governments have loosened COVID-19 measures after months of lockdowns, and gradually re-opened economic activities.

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Gaming market in most of the regions where we operate has started to improve, while US Lottery market shows high degree of resilience. Based on the current performance of our operations in the first months of 2021 and the actions undertaken by most of our subsidiaries, no significant EBITDA impact is expected post 1Q21 from the pandemic. In any case, the scale and magnitude of COVID-19 impact for 2021 is continuously assessed and all containment measures assumed in 2020 remain intact and have been enhanced in order to absorb the potential impact in the financial results of 2021. The extent to which the COVID-19 pandemic may impact the financial performance in 2021 will depend on future development of the pandemic and the efficiency of the actions taken by the governments. This uncertainty will require us to continually adapt our strategy and initiatives and continuously assess the situation.

 

The health and safety of our team remains our top priority. With this in mind, we have immediately complied with all measures imposed by local governments and used technology in order to immediately enable a substantive majority of our personnel to work and collaborate remotely, without affecting the performance and quality standards of the Group.

9

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

RECENT/ SIGNIFICANT COMPANY DEVELOPMENTS

 

 

  • On January 14th, 2021, the Company announced that OPAP exercised its two-year extension option of the contract with INTRALOT for the continuation of the collaboration of the two companies in the field of numerical lotteries and services from August 2021 to July 2023.

 

  • On February 8th, 2021, INTRALOT announced that it has reached a binding agreement with Nexus Group in Peru to sell its entire stake of 20% in Intralot de Peru SA, an associate of INTRALOT Group, which was consolidated through the Equity method, for a cash consideration of USD 21.0m. In addition, the Company signed a three-year extension of its current contract with Intralot de Peru SA through 2024, to continue to provide its gaming technology and support services. The transaction was completed on February 24th, 2021, with the net cash consideration, after taxes and transaction expenses, amounting to USD 16.2m.

 

  • On March 23rd, 2021, INTRALOT announced the amendment of the contract of INTRALOT Maroc, a subsidiary of the INTRALOT Group acting as games operator in Morocco, with La Marocaine Des Jeux et des Sports (MDJS), a state lottery offering sports betting and other games of chance in Morocco, which was signed in June 2019. According to this amendment, counterparties agree to reduce the duration of the contract, which was initially effective for an 8-year term, ending 31/12/2022.

 

  • On May 14th, 2021, INTRALOT announced that it has reached a binding agreement with “SAGA CONSULTORIA E REPRESENTAÇÕES COMERCIAIS E EMPRESARIAIS” (“SAGA”) in Brazil to sell its entire stake in “Intralot do Brasil Comércio de Equipamentos e Programas de Computador LTDA” (“Intralot do Brasil”), representing 80% of the company’s voting capital. SAGA is the only other shareholder of Intralot do Brasil holding 20% of the company. INTRALOT will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction. The total cash consideration for the stake sale amounts to €0.7m.

 

  • On May 26th, 2021, INTRALOT announced that its subsidiary in The Netherlands INTRALOT BENELUX BV, in co-operation with the Nederlandse Loterij, completed the transition of the operator’s full gaming portfolio enabled by the innovative LotosX platform. Additionally,

INTRALOT has rolled out 4,300 Photon terminals along with its robust signage solution empowering further the retail channel of Nederlandse Loterij’s Lottery games and Sports Betting offering.

10

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

APPENDIX

 

Performance per Business Segment10

 

YTD Performance

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

Performance per Geography

 

Revenue Breakdown

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
(in € million)   1Q21   1Q20 %
    Change
         
Europe   34.4   39.0 -11.8%
Americas   55.0   49.7 10.7%
Other   16.8   14.0 20.0%
Eliminations   -4.2   -9.4
Total Consolidated Sales   102.0   93.3 9.3%

 

 

Gross Profit Breakdown

 

(in € million)   1Q21   1Q20 %
    Change
         
Europe   -1.8   2.5
Americas   14.4   9.1 58.2%
Other   14.2   9.8 44.9%
Eliminations   -0.7   -2.3
Total Consolidated Gross Profit   26.1   19.1 36.6%

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Part of the US revenue that concerns SB management, has been included under the category “Game Management”. The rest of the US revenue is included under the “Technology” business segment.

 

11

 

Gross Margin Breakdown          
            %
      1Q21   1Q20
        Change
           
  Europe   -5.2%   6.4% -11.6pps
  Americas   26.2%   18.3% +7.9pps
  Other   84.5%   70.0% +14.5pps
  Total Consolidated Gross Margin   25.6%   20.5% +5.1pps

 

INTRALOT Parent Company results

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Revenue for the period decreased by 55.3%, to €4.6m, with the decrease attributable mainly to one-off equipment sales in 1Q20, as well as lower rendering of services towards the Group’s subsidiaries in the current period.

 

  • EBITDA shaped at €-4.5m from €-2.4m in 1Q20, variance affected mainly by the revenue decrease, while partially offset by the containments in the Company’s operating expenses.

 

  • Earnings after Taxes (EAT) at €-0.1m from €-10.2m in 1Q20.

 

 

(in € million)   1Q21   1Q20 %   LTM  
    Change    
               
Revenue   4.6   10.3 -55.3%   42.0  
Gross Profit   -3.1   0.1   12.3  
Other Operating Income       0.2  
OPEX11   -5.1   -6.9 -26.1%   -25.7  
EBITDA11   -4.5   -2.4 -87.5%   0.7  
EAT   -0.1   -10.2 99.0%   -30.5  
CAPEX (paid)   -0.5   -1.9 -73.7%   -6.4  

 

  • Operating Expenses and EBITDA presented exclude the expenditures related to capital structure optimization.

 

12

 

SUMMARY OF FINANCIAL STATEMENTS

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Group Statement of Comprehensive Income

 

(in € million)   1Q21     1Q20 %       LTM    
        Change      
                     
Revenue   102.0     93.3 9.3%       373.5    
Gross Profit   26.1     19.1 36.6%       82.3    
Other Operating Income   5.5     3.6 52.8%       19.5    
OPEX   -23.2     -25.3 -8.3%       -93.1    
EBITDA   24.4     15.7 55.4%       74.9    
Margin   23.9%     16.8%   +7.1pps   20.1%    
Capital Structure Optimization   -5.0     -0.3       -11.5    
expenses                
                         
D&A   -16.0     -18.2 -12.1%       -66.3    
EBIT   3.4     -2.9       -2.8    
Interest expense (net)   -11.8     -12.0 1.7%       -48.2    
Exchange differences   3.7     -0.5       -5.4    
Other   1.3     0.5 160.0%       -26.2    
EBT   -3.4     -14.9 77.2%       -82.6    
NIATMI   -8.2     -17.6 53.4%       -96.8    
NIATMI continuing   -7.3     -17.3 57.8%       -94.1    
NIATMI discontinued   -0.9     -0.3 -200.0%       -2.7    
Group Statement of Financial Position                  
                     
(in € million)           1Q21       FY20  
                           
Tangible Assets           138.9     134.3    
Intangible Assets           200.7     202.0    
Other Non-Current Assets           19.4     19.2    
Inventories           24.2     25.7    
Trade and Other Short-term Receivables     138.3     151.5    
Cash and Cash Equivalents           90.6     100.0    
Assets Held for Sale               16.2    
Total Assets           612.1     648.9    
Share Capital           47.1     47.1    
Other Equity Elements           -270.6     -269.3    
Reserves from profit / (loss) recognized directly in other         -0.6    
comprehensive income and are related to assets held for sale          
               
Non-Controlling Interests           1.5     3.7    
Total Shareholders’ Equity           -222.0     -219.1    
Long-term Debt           480.5     476.2    
Provisions/ Other Long-term Liabilities           20.8     21.5    
Short-term Debt           253.8     274.9    
Other Short-term Liabilities           79.0     95.4    
Total Liabilities           834.1     868.0    
Total Equity and Liabilities           612.1     648.9    

 

13

 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Group Statement of Cash Flows

 

  (in € million) 1Q21 1Q20
       
  EBT from continuing operations -3.4 -14.9
  EBT from discontinued operations 0.5
  Plus/less Adjustments 23.3 31.1
  Decrease/(increase) of Inventories -1.3 1.0
  Decrease/(increase) of Receivable Accounts 13.5 -0.2
  (Decrease)/increase of Payable Accounts -17.6 -2.0
  Income Tax Paid 6.6 -5.5
  Net Cash from Operating Activities 21.6 9.5
  Net CAPEX -2.9 -5.6
  (Purchases) / Sales of subsidiaries & other investments 13.3 -0.5
  Restricted bank deposits -3.2 -0.7
  Interest received 0.3 0.6
  Dividends received 1.0
  Net Cash from Investing Activities 7.5 -5.2
  Cash inflows from loans 27.5
  Repayment of loans -11.2 -27.2
  Repayment of Leasing Obligations -1.4 -1.8
  Interest and similar charges paid -21.4 -22.1
  Dividends paid -5.1 -7.9
  Net Cash from Financing Activities -39.1 -31.5
  Net increase / (decrease) in cash for the period -10.0 -27.2
  Exchange differences 0.6 -1.9
  Cash at the beginning of the period 100.0 171.1
  Cash at the end of the period from total operations 90.6 142.0
       

 

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Latest News

Week 31/2025 slot games releases

Published

on

week-31/2025-slot-games-releases
Reading Time: 6 minutes

 

Here are this weeks latest slots releases compiled by European Gaming

PG Soft has launched its latest all-star game, Galaxy Miner. This space-inspired title is a 3-reel, 3-row video slot featuring Win Vortex symbols and Prize symbols up to 1000x. Players travel to the year 3127, to a world beyond the stars dominated by the legendary X Vortex — a force that swirls in silence, devouring everything in its path and forging Galactic Treasures deep within.

PG Soft launches galactic quest: Galaxy Miner

Inspired Entertainment, Inc. has announced the release of three new online slot titles this July across UK and Malta iGaming  jurisdictions: Chili Poppers, Bichos Mágicos, and Bigger Piggy Bank. Each title is designed to provide distinctive gameplay experiences while delivering strong performance for operators.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

Play’n GO revisit a classic hit with Super Flip Deluxe, bringing back the charm of the original slot while adding new ways to win and a sleek new look. This update to Super Flip keeps everything fans loved, while giving it a modern refresh. The clean, classic layout is still here – now with sharper graphics and smoother gameplay. Players can also enjoy new features that give them more chances to win, such as surprise coin prizes and a second spin when things don’t quite go their way.

Super Flip Deluxe gives a fresh spin to a fan favourite

TaDa Gaming, is giving players another chance to hit the big time with 3 Coin Treasures 2, a three reels, five rows slot with 243 ways to win. Part of the TriLuck™ series and a sequel to hit release 3 Coin Treasure, this new release delivers colourful coins and three separate colour coin Scatters to trigger the three different bonus games. Add in the Firecracker Wilds, the Golden Auspicious Coin, Double Reel multiplier, fixed multiplier jackpots and a Lock & Respin feature and it’s easy to see why players are going coin crazy.

TaDa Spins a Treasure Trail in TriLuck™ Sequel, 3 Coin Treasures 2

Evoplay has launched Sea of Wealth: Hunt for Coin, the latest release in its aquatic-themed slot series. Set in a vibrant underwater world, the 5×3 video slot runs across five fixed paylines and features marine creatures, powerful gods, and ancient treasures hidden beneath the waves. Players will encounter seven regular symbols, alongside Wilds, Bonus symbols, and the mighty Trident as they dive into the action.

Evoplay expands underwater universe with Sea of Wealth: Hunt for Coin

Push Gaming returns to the colony with Wild Swarm Triple Hive, blending a fan-favourite setting with the high-engagement 3 Pots system. Wild Swarm Triple Hive builds on the success of 3 Magic Pots, offering the same core mechanic adapted to the world of Push’s beloved bees. The game increases volatility and depth, providing a richer experience for players who enjoy collecting mechanics and multi-stage bonuses.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Push Gaming brings the buzz back in Wild Swarm Triple Hive

 

Play’n GO bring the spirit of the plains to players with Play’n GO Buffalo of Wealth, a dynamic new slot rooted in the legacy of our animal-themed titles. Play’n GO Buffalo of Wealth is Play’n GO’s answer to the enduring popularity of American wildlife-themed slots. It captures the essence of iconic Play’n GO games while introducing fresh design and mechanics that elevate enjoyment.

Play'n GO Buffalo of Wealth charges onto the reels with mighty power

 

Stakelogic has released its most action-packed slot to date with Turbo Duck, a high-octane title that blends intense gameplay with cinematic visuals and a winged hero who refuses to back down. Set in a post-apocalyptic retro arcade, Turbo Duck follows Quack-9, a fearless duck mecha-pilot ready for action. As the gameplay unfolds, players join Quack-9 in the fight for control and massive multipliers.

Turbo Duck takes flight in Stakelogic’s newest release

Blueprint Gaming™ invites players on its most bountiful fishing trip to date in Fishin’ Frenzy The Big Catch 3with a host of sumptuous bonus modifiers charging the latest iteration from the industry-renowned series. The leading UK slot supplier has high hopes for its July release following the roaring success of the original Big Catch title and its sequel, which was released in February 2025.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Open a can of lavish rewards in Blueprint Gaming's Fishin' Frenzy The Big Catch 3

Red Rake Gaming presents its latest release, Beating Alcatraz, an exciting video slot that transports players to one of the most iconic prisons in the world to experience the ultimate escape adventure. With a 5×4 reel layout and 25 paylines, Beating Alcatrazdelivers an innovative gaming experience centered around the Sticky Wins feature, where every winning combination sticks to the reels and triggers a Respin—offering players the chance to maximize their winnings while keeping the excitement going with every spin.

Red Rake Gaming launches Beating Alcatraz, the ultimate prison break slot

The latest slot game from Galaxsys takes players on a mythological journey through nine Norse realms, offering unique bonuses, free spins, and up to 7000x wins. Galaxsys, the award-winning games developer, proudly announces the launch of its new slot title: Gates of Asgard: Nine Realms. Rooted in Scandinavian mythology, Gates of Asgard: Nine Realms invites players on a journey across the nine legendary realms of Norse lore.

Step back in time and experience the excitement of Reels Paradise by Booming Games. This classic slot machine features iconic reels and symbols, with modern features that make every spin engaging and enjoyable. Reels Paradise is a 5-reel, 3-row slot game with a unique twist. The first three reels showcase classic slot symbols such as diamonds and bars. The 4th reel is the Value Symbol reel, which exclusively contains prize values.

Gaming Corps is diving into deep waters with the launch of its latest slot, Fishing Pro: Reel Collect — an action-packed release designed to hook players with its unique Prize Collect mechanic. Set against a colourful underwater backdrop, Fishing Pro invites players to bait their hooks and aim for the big one. Every spin in this wild slot brings new opportunities to collect fish, lobsters, and mythical mermaids across a grid bursting with aquatic prizes.

FBMDS just launched Secrets of Scarabs, the first title in its brand-new Titan Series – a premium slot collection created to deliver engaging gameplay, flexible configurations, and high-quality performance across platforms. Inspired by the opulence and mystery of Ancient Egypt, Secrets of Scarabs invites players to explore a world of golden treasures, mystical artefacts, and potential wins.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

 

ICONIC21 is letting players experience the pulsing energy of an unforgettable Vegas night in its latest slot release, Neon Paradise Hold & Win. A new kind of glow is lighting up the game board in this bold and bright slot that brings a modern twist to a proven and always popular game mechanic. Players get to experience the thrills of the classic 3×5 reel setup, aiming to collect six or more Diamond symbols to unlock the Bonus Game.

Amusnet has released its latest video slot, Extra Crown Classic Buy Bonus. This new release invites players to embark on a royal adventure across the 5 beautifully designed reels. This classical video slot has 10 fixed paylines offering many chances to score big and feel the thrill of majestic rewards.

 

The post Week 31/2025 slot games releases appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Industry Awards

Awards Up For Grabs: ELA Games Shortlisted in Two Categories at SiGMA Euro-Med Awards 2025

Published

on

awards-up-for-grabs:-ela-games-shortlisted-in-two-categories-at-sigma-euro-med-awards-2025
Reading Time: < 1 minute

 

The studio continues its momentum with two new nominations

ELA Games, a dynamic game development studio, is proud to announce its double nomination at the upcoming SiGMA Euro-Med Awards 2025 in the “Best Game Studio” and “Best Slot Game Provider” categories.

These nominations for two of the most prestigious categories at the event highlight a milestone year for ELA Games, marked by innovative developments, a growing portfolio, and key partnerships. Central to this recognition are standout titles including Shoot Happens, Juicy Crystal, and Joker Winpot. Each title has showcased the studio’s balance of creativity, visually rich design, and technical excellence.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Shoot Happens is a prime example of ELA Games’ progression as a game development studio. It’s a high-energy game that breaks from traditional game formats to give players more agency over their gameplay. Players face off against increasingly tougher and valuable opponents to fill up their “Winpot,” which they can then choose when to cash out. Shoot Happens reflects ELA Games’ ambitions to offer new experiences that connect with modern player preferences and provide high-performing content for operators.

Marharyta Yerina, ELA Games’ Managing Director, commented on the nominations, “The team has been in overdrive working on new titles and rethinking the online gaming landscape. Being nominated for two of the biggest categories at the SiGMA Euro-Med Awards 2025 is a testament to the entire team’s efforts to create engaging, visually rich content that’s genuinely fun to play. We look forward to the award ceremony results and continuing to push creative boundaries with new, exciting games!”

Voting is open for the SiGMA Euro-Med Awards 2025.

The post Awards Up For Grabs: ELA Games Shortlisted in Two Categories at SiGMA Euro-Med Awards 2025 appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Brazil

WA. Technology Receives GLI Certification in Brazil for Casino Aggregator Product

Published

on

wa.-technology-receives-gli-certification-in-brazil-for-casino-aggregator-product
Global iGaming solutions provider, WA. Technology has earned Gaming Laboratories International (GLI) certification in Brazil for its casino aggregator product as it looks to expand its presence in South America.

Certification for its standalone casino aggregator product allows WA Technology to increase its range of integrated iGaming content supplied to operators in the Brazilian market.

This ever-expanding catalogue of content includes tens of thousands of games, cementing it as a more trusted partner for operators seeking to thrive in this market, with the added assurance that it fully complies with Brazilian regulatory requirements.

Meeting the necessary requirements for the casino product builds on WA Technology’s strong record in the region, where it already has an established presence and certified platform, with an experienced team of professionals based out of an office in Recife. This gives the business a unique understanding of the players in the country and the team to simplify any complexities that may arise for operators.

By making the aggregator a standalone product, the team can provide content to operators who are not already on the WA Technology platform, joining the likes of F12 Bet, which already uses the full turnkey sportsbook, casino and player account management.
Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The certification follows on from recent launches such as its Pick’Em player products for stats-led gameplay and Sportsbook Managed Service, to provide operators with more services and opportunities to grow.

Commenting on the certification, Phyllyp Sedicias, WA. Technology’s
Country Director for Brazil said: “This is a significant milestone for the business and signals our intent to expand further into the Brazilian market. I’m proud of the team’s hard work to secure this certificate and allow us to meet the market demands for casino games within this region.
“GLI certification for our casino aggregator product means we can now provide operators with additional opportunities to enhance their content through an experienced team with a proven track record in the region, which we look forward to growing our partnerships even further.”

The post WA. Technology Receives GLI Certification in Brazil for Casino Aggregator Product appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania