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Racecourse Media Group results return to pre-Covid levels
Racecourse Media Group (RMG) has revealed its payments to racecourses have returned to pre-Covid levels, with £110m forecast to be paid to its shareholders for 2021.
The payments, earned through racecourses’ media and data rights, are expected to exceed 2019’s pre-Covid payments of £107m, and have been a contributory factor to many racecourses being able to return prize money to its pre-pandemic levels.
RMG is 100% owned by its racecourse shareholders and pays 100% of operating profit back to racecourses. This collective and collaborative ethos has seen RMG’s businesses become the biggest single funder of British horseracing. The 2021 results follow a hugely challenging year in 2020 when, due to the pandemic, RMG payments to racecourses fell by 25.9% on the previous year.
Chairman Roger Lewis said: “I thank and congratulate everyone involved in racing for their herculean efforts in 2021. The RMG racecourses ensured that horseracing continued for a second year in the most demanding of circumstances, which allowed RMG to deliver as great a return as possible for racing. The RMG model was again tested in 2021 and again proved to be resilient and reliable.
“The investment in, and development of, our media assets and new innovative products – such as the Watch & Bet service, ultra-low latency, on-screen timing data, the exploration of in-play opportunities, and enhancements on Racing TV, headlined by the stunning Virtual Studio – aided our recovery.
“These initiatives all contribute to the RMG strategy of attracting more eyes on to our racing which, in turn, drives betting turnover, subscriptions, and sponsorship opportunities in the sport. And this all feeds into the RMG vision of increasing returns to our racecourses for the benefit of the industry.
“The 2021 performance will mean that RMG will have delivered £1bn to racecourses since the start of the business in 2004. This is a testament to our racecourses’ dedication and commitment to working together for the greater good of racing.”
Lewis steps down from his role at the end of 2022 and the search for a new Chairman is underway.
He joined the Board of RMG in 2012 and was appointed Non-Executive Chairman on January 1, 2019. Over a 40-year career in sport, media and business, Lewis has held senior positions at the BBC, ITV, Classic FM, EMI and Decca, and was GCEO of the Welsh Rugby Union for nine years.
Lewis continues as Chair of the Churchill Lines Foundation, a military charity, a Director of Festival UK 2022 and President of the National Museums of Wales. He also sits on The Platinum Jubilee Civic Honours Panel.
He added: “I have thoroughly enjoyed my decade at RMG and have been humbled by the boundless enthusiasm and support that we receive from our shareholder racecourses.
“I am particularly pleased RMG was able to announce last July that our British racecourses agreed a media rights renewal extension until December 31, 2028.
“This was a pivotal moment for British racing. The RMG racecourses have created business clarity and confidence for years to come. The certainty which this landmark, long-term agreement provides is very special for everyone involved in British racing.
“I pay particular tribute to the outstanding leadership of the RMG CEO, Martin Stevenson, who together with his great team of RMG executives navigated this complex and detailed process with rigour, patience and clear focus and who continue to lead the business with dynamism.
“I have been very fortunate to have worked alongside an outstanding Board of Directors and I sincerely thank them for their friendship, help and support and their incredible insight into the business.”
The business is aiming to exceed 2021’s forecast payments of £110m for the year ahead.
Lewis continued: “RMG can now look forward to serving its shareholder racecourses, which, in turn, benefits the sport of racing for the foreseeable future.
“The unity of purpose which the RMG racecourses have created over the past 18 years, to build an evolving yet sustainable and secure financial business, is a rare and precious thing. It has been a privilege and an honour to have served racing for the past ten years. It’s been one hell of a ride!”
Martin Stevenson, CEO of RMG, paid tribute to Lewis, saying: “I would like to pay tribute to Roger, who during his tenure as first Board member and then Chairman, has been instrumental in the development and success of RMG and its businesses over the last decade.
“In particular, Roger has helped steer RMG through the pandemic, and all the huge challenges it presented, to the point where the business is now producing results, which were on a par with pre-covid payments to racecourses. That is a terrific outcome.
“I thank Roger for his leadership and friendship and for all that he has done for horseracing. We wish him all the best for the future once his tenure comes to its conclusion at the end of the year.”
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As the UK Gambling Commission announces the launch of its consultation on proposed new rules for gaming machines, Nick Arron, lead partner for the Gambling Team at Poppleston Allen urges stakeholders to ensure they are heard
The UK Gambling Commission this week announced the launch of a 16-week consultation, seeking input on proposed new rules for gaming machines in retail venues.
The consultation focuses on technical standards and related testing strategy and aims to improve consumer protection through a number of proposed changes. The consultation is due to end on May 20.
Nick Arron, lead partner for the Betting and Gambling Team at Poppleston Allen, encouraged stakeholders such as operators and licensees to have their say on what impact these proposed changes will have, including the potential costs.
He said: “Robust stakeholder engagement is an important part of this progress. It’s important that operators have their say so that the regulatory framework balances both consumer safety and industry sustainability.
“Changes will require affected businesses to update their processes and technologies to ensure that any changes are not only implemented by the required date but also properly enforced.
“As this consultation progresses, operators will need to weigh the implications of adopting these new standards, not least the cost. While the intention is to enhance consumer protection, businesses must carefully assess the operational and financial implications of the proposed changes.
“While the Gambling Commission’s initiative is a positive step in prioritising consumer safety, the real challenge will be ensuring that the proposed regulatory adjustments are manageable for businesses already operating under thin margins.”
Tim Miller, Gambling Commission executive director for research and policy, said: “We recognise that regulatory changes that impact the design of machines can come with considerable costs.
“We are encouraging consumers, gambling businesses and other interested groups to share evidence that will assist us in measuring both the likely regulatory impacts of the proposed changes and the likely costs of implementing them.
“This evidence will be invaluable to helping make a robust assessment on whether the benefits to consumers are proportionate to the costs involved.”
The post Why stakeholders must be vocal as part of UKGC consultation on gaming machines appeared first on European Gaming Industry News.
Pateplay is thrilled to unveil its latest strategic partnership with WWin, a premier online operator in Bosnia and Herzegovina.
Martin Yonovski, BDM & CMO at Pateplay, on the collaboration: “Partnering with WWin is a significant step forward for Pateplay. We’re eager to combine our strengths and expertise, and we’re confident this collaboration will open new doors for growth and huge success for both parties”.
Through this alliance, Pateplay is further accelerating its global expansion efforts, poised to achieve extraordinary milestones and deliver unparalleled experiences to players worldwide.
The post Pateplay’s newest partner in Bosnia and Herzegovina appeared first on European Gaming Industry News.
GoldenRace, leading provider of award-winning Virtual Sports and betting solutions, is thrilled to announce the renewal of its Maltese certification, successfully tested by BMM lab and approved by the Malta Gaming Authority (MGA). This renewed certification keeps unlocking opportunities in Romania, Poland, Serbia and other MGA-regulated territories, giving operators a golden ticket to tap into new revenue streams in highly regulated markets.
In Romania, where 88% of the population has internet access, the online gambling market is thriving, offering significant opportunities for operators to attract a tech-savvy audience. Serbia, ranked 8th in Europe for gambling revenue, continues its rapid expansion with over 2,200 betting shops and a flourishing online gambling sector. Meanwhile, Poland’s well-regulated and mature market is a compelling destination for operators seeking sustainable growth.
Any games that have been approved under its newly recertified license in Malta, are also eligible for inclusion under its Class II license in Romania, upon the successful completion of the ONJN approval process. While this certification eases the path in these markets, local regulators may require additional approvals. Operators are advised to present these certifications to their respective regulatory authorities to ensure seamless compliance.
Markets on the rise demand winning content
Compliance may open the door, but content is what keeps players loyal. GoldenRace is helping operators target new demographics and grow market share by offering an incredible portfolio of certified games.
In markets such as Romania and Serbia, football is the main revenue force. GoldenRace continues to dominate this space with its newly certified football games, including its most new football format and games such as Football League, World Cup, Euro tournaments (Champions League & Euro League), La Libertadores and Single Soccer.
With online sports betting making up 58% of Romania’s gambling market and Serbia’s sports betting sector projected to grow by 4.93% between 2025 and 2029, GoldenRace has certified games such as Penalt2Win, Basketball 3×3, Horse and Greyhound racing, MMA (Single & Tournament) and several thrilling motor racing titles, such as Grand Prix Indianapolis 60, Motorbike and Speedway racing.
Eastern Europe’s enduring love for number-based games creates another profitable avenue for operators. Certified games such as Keno & Keno Deluxe, Spin2Win (Royale & American) and Perfect6 are designed to meet the unique preferences of players in these regions.
Insights show that players in Poland and neighboring regions prioritise financial rewards, with 56% listing it as their top motivator for gambling. For those players seeking big payouts potential, Crash Games are leading the charge. After a stellar debut in GoldenRace’s Crashmas campaign, games like Jet Escape, Boom Ball Juggle, Fire Crash, Bank Run and Meteoroid are now part of the certified portfolio.
The post GoldenRace fuels growth in Europe with renewed MGA certification appeared first on European Gaming Industry News.
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