Press Releases

SOFTSWISS: Calling Industry Leaders to Join Ukraine Support Initiative

Published

2 years ago

March 4, 2022

Reading Time: 2 minutes

SOFTSWISS has suspended all marketing activities to provide financial support to organizations that are helping Ukrainian citizens. Thereby, the company has canceled its participation in the most significant industry exhibition, ICE London, which will take place in April.

SOFTSWISS shares democratic values and stands in solidarity with Ukraine in its struggle for freedom against the invaders.

In collaboration with reputable iGaming companies, SOFTSWISS has organized funds to support Ukraine. The company calls on its partners and clients to join the project and make a contribution. iGaming representatives are currently offering assistance with the following: delivery of humanitarian aid to hotspots, civilian evacuation, support to refugees who have already crossed the border, and informational support.

“We believe in the victory of good over evil. We are sure that all our partners are in solidarity with us and will also follow our example. The iGaming industry can’t stay detached from the situation. We are calling industry leaders to join our initiative to support Ukraine!” highlighted Ivan Montik, Founder of SOFTSWISS.

The company’s team, which is now over 1,000 employees strong, includes people of different nationalities, including Ukrainians. In light of the recent tragic events, SOFTSWISS has done its best to ensure their safety.

“Let’s condemn the war, but not judge the people who have been forced into it!

At the same time, being an international company with a presence in Belarus, among other countries, SOFTSWISS stresses that all attempts of discrimination based on origin and nationality are unacceptable.

“It is crucial now to differentiate between the official position of countries and actions of their politicians and the attitude of people towards these actions.

Belarus has also been fighting for independence and political freedom for many years, and the last two have been especially hard. We faced a lack of actual support from other countries who were speaking but not acting in 2020. The entire Belarusian IT industry made huge efforts to support people and democracy, and any attempts of discriminating against companies and people from this country by blocking access to international events, services, and others are unjustified. It will bring nothing but further tension and conflict.

From the 20th of February, Belarus is de facto occupied by Russian troops which entered the country for a planned 10-day training maneuver and never left the territory. There is not much that people can do in this situation, but they still support the Ukrainian people and deserve the right to be heard in Europe and worldwide.

Numerous Russians are now fighting against the aggressor alongside their Ukrainian colleagues and don’t deserve to be subject to discrimination. There are nearly 6,2 million Russians living in the EU today, and many of them already fear becoming deemed fascists.

The best we can do now in our industry is to facilitate peaceful collaboration between companies of different origins and ensure that people of different nationalities can still communicate and work together. Excluding people from the iGaming community and banning them from participating in industry life because of their passports is a way of promoting hatred between nations, the thing that we’ve been trying to overcome for many decades.

Let’s condemn the war, but not judge the people who have been forced into it!” further noted Ivan Montik, Founder of SOFTSWISS.

Latest News

Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements

Published

30 mins ago

May 2, 2024

GamingAmericas.com

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.

2023 Annual Letter to Shareholders

To our Shareholders,

This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.

Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.

In 2023, Rivalry recorded $423.2 million in betting handle¹, up 82% from the previous year. Similarly, gross gaming revenue² and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.

Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.

The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.

While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.

Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.

Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle³, with 30% year-over-year growth in 2024⁴, and showing no signs of slowing down.

The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.

Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.

Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide⁵ organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.

It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.

Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.

To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.

The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.

We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.

Press Releases

EGT Digital to reveal a captivating product display at FIJMA 2024

Published

1 hour ago

May 2, 2024

Zoltan Tundik

egt-digital-to-reveal-a-captivating-product-display-at-fijma-2024

Reading Time: 2 minutes

After a series of numerous exhibitions that passed with great success, now EGT Digital is ready to fascinate the visitors of FIJMA as well. The iGaming provider will participate in the show together with EGT and both companies will present their novelties on stand C17-C19.

At visitors’ disposal will be the well-known instant games of EGT Digital, as well as its wide range of slot solutions, currently containing the jackpots Bell Link, Clover Chance, High Cash and Single Progressive Jackpot and more than 100 titles, which will demonstrate why they are players’ preferred choice in over 50 markets worldwide.

Among the main highlights in the casino portfolio will be the brand-new football game Burning Goals, part of the Clover Chance jackpot. On the eve of the European Championship, EGT Digital will give football lovers the opportunity to feel the atmosphere of a real match with just a click on their screen. The gaming thrill will reach new heights with the double chance feature, which provides players with even more opportunities of bringing home one of the big prizes.

EGT Digital’s in-house developed all-in-one betting platform X-Nave will also be on display to show how it can provide operators with a complete solution, through which they can build and maintain a successful iGaming business.

It includes 4 main modules: Sport product, Casino aggregator, CRM Engine and Payment Gateway. Each of them can be both part of the turnkey product or operate independently, as they allow integration with developments of third-party providers.

Tsvetomira Drumeva, Head of Sales at EGT Digital, commented: “Our games have already made their debut in Spain and we are delighted that their performance has been very good so far. FIJMA as one of the most authoritative exhibitions for Spain and the region will give us the opportunity to meet with many of the local operators and present to them our products in person. This will certainly increase our popularity and help us to close many more deals.”

The post EGT Digital to reveal a captivating product display at FIJMA 2024 appeared first on European Gaming Industry News.

Compliance Updates

Department of Trust set to meet challenges of new affordability checks

Published

3 hours ago

May 2, 2024

Zoltan Tundik

department-of-trust-set-to-meet-challenges-of-new-affordability-checks

Reading Time: 2 minutes

Department of Trust (dotrust.co.uk), the award-winning provider of financial risk assessments for safer gambling is poised to meet the challenges of the newly announced regulations on frictionless financial checks by the UK Gambling Commission and Betting and Gaming Council.

Under the new rules published by the Gambling Commission, operators have until August 30^th to implement frictionless checks on all customers making £500 net deposits in any rolling 30-day period. These frictionless checks form part of a new regime designed to protect players at risk of financial harm and replace the current ad hoc approach to affordability checks.

Department of Trust also welcomes the interim voluntary code published today by the Betting and Gaming Council (BGC), the standards body representing over 90% of UK-regulated market operators. This code focuses on how responsible operators should support customers spending above the lower threshold set out by the Gambling Commission.

The supplier’s DoTrust Complete solution offers an integrated suite of frictionless and enhanced financial risk checks with a high level of automation capability -the only such tool built solely for safer gambling – and is perfectly positioned to help businesses navigate the newly regulated waters.

Charles Cohen, CEO of Department of Trust, said: “These important announcements flag the end of gambling’s ‘sus law’ where players faced seemingly arbitrary requests for personal information, operators were placed under a significant burden, and no one won

“We now know that in 120 days, every operator will need to perform frictionless checks on all players with net deposits in a 30-day rolling period of £500. A few months later this will fall to a much lower level.

“If operators want to protect their business, keep their customers and reduce costs, smart automation is the only answer.

“Department of Trust has spent over two years building the leading plug-and-play solution specifically for the gambling industry. Complete already automates over 90% of the processes required in both the new LCCP and BGC code. Now we know what the requirement will be, we are today committing to the goal of 100%. We want every operator and player to have instant assessments and sensible decisions cost-effectively. No one needs to lose sleep over this.”.

The post Department of Trust set to meet challenges of new affordability checks appeared first on European Gaming Industry News.