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NeoGames Announces First Quarter 2022 Results
NeoGames S.A., a technology-driven provider of end-to-end iLottery solutions, announced today financial results for the first quarter ended March 31, 2022.
Moti Malul, Chief Executive Officer of NeoGames, said: “Our business continues to trend positively in 2022, as our existing accounts continue to perform well in terms of both sequential, as well as annual growth rates. We are delighted to see particularly strong growth from our Virginia and Alberta accounts, which have become leading contributors to our revenues. During the quarter we announced an offer to acquire Aspire Global in an effort to enhance our offering and expand our geographies. We have been keenly focused on completing this transaction and have recently launched our tender offer. We are confident with the progress and expect to close during the second quarter.”
First Quarter 2022 Financial Highlights
- The total of Revenues and the Company’s share in NPI revenues was $22.4 million during the first quarter of 2022 compared to $21.6 million during the first quarter of 2021, representing an increase of 3.8% year-over-year. Revenues were $13.2 million during the first quarter of 2022, compared to $13.3 million during the first quarter of 2021, representing a decrease of 0.7% year-over-year. In addition, the Company’s share in NPI revenues was $9.2 million during the first quarter of 2022, compared to $8.2 million during the first quarter of 2021, representing an increase of 11.2% year-over-year.
- Comprehensive loss was $(0.9) million, or $(0.03) per share, during the first quarter of 2022, compared to comprehensive income of $4.0 million, or $0.16 per share, during the first quarter of 2021. The change in comprehensive income was impacted by several items, including Aspire transaction-related, stock-based compensation expense (granted in Q4 2021), and additional G&A related to further build out of operations.
- Adjusted EBITDA1 was $8.5 million during the first quarter of 2022, compared to $9.7 million during the first quarter of 2021 representing a decrease of 12.0% year-over-year.
- Network Net Gaming Revenue (“NGR”) was $199.7 million during the first quarter of 2022, compared to $195.8 million during the first quarter of 2021, representing an increase of 2% year-over-year.
Recent Business Highlights
- On April 26, 2022, we published the prospectus, offer document and acceptance form related to the Aspire Global prospective acquisition. The acceptance period runs from April 27 through May 25 with an expected settlement date of June 14, 2022. The acquisition is expected to close during the second quarter of 2022.
- Virginia continued its strong growth with quarter-over-quarter and year-over-year increases in revenue and near market-leading per capita volumes.
- Michigan continued its growth trend, which started in the second half of the fourth quarter 2021.
- Benefiting from the broader product mix rolled out in the region, Alberta expanded to become our second largest turn-key account in terms of revenues, demonstrating the benefits of our collaboration with Aspire Global, as Pariplay has increased its market share during the quarter.
Guidance
The Company is updating its fiscal year 2022 Revenue and Share of NPI Revenues Interest Guidance to between $91 million and $96 million, compared to the prior range of between $90 million and $97 million, representing an approximate 11% increase year-over-year at the midpoint. This range is based on revenues from existing accounts, does not assume revenues from the launch of new turn-key accounts, and reflects the range of possible outcomes of the conflict in Ukraine.
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Cool Bus Shelter
The UAE Lottery backs Cool Bus Shelter initiative for outdoor workers
The UAE Lottery has partnered with SmartLife Foundation to support outdoor workers during the UAE summer, backing the Cool Bus Shelter initiative in Abu Dhabi on July 20, 2026.
The programme aligns with the UAE’s Midday Break rules, which require outdoor work to stop between 12:30 PM and 3:00 PM during peak heat. As part of the initiative, air-conditioned buses were stationed near labour sites to provide workers a place to rest before returning outdoors.
Volunteers from The UAE Lottery and SmartLife Foundation provided cold towels, cold water and drinks, according to the organisations. Workers also received portable rechargeable neck fans intended to provide additional cooling after the break.
Suzan Kazzi, Associate Director – Corporate Social Responsibility at Momentum- The UAE Lottery, said: “Outdoor workers are the backbone of our cities’ urban development, and initiatives like the Cool Bus Shelter ensure they receive the care and recognition they deserve during the most challenging months of the year. This is our small way of saying thank you and reminding them that their wellbeing truly matters”.
Abhijeet Oak, Vice President at SmartLife Foundation, added: “At SmartLife Foundation, we believe that protecting the wellbeing of outdoor workforce is a shared responsibility. Through the Cool Bus Shelter initiative, we are proud to collaborate with organizations such as The UAE Lottery and other community partners to create moments of comfort, appreciation and human connection that leave a lasting impact”.
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Bally’s Intralot
Intralot Ireland Limited Signs Seven Year Contract Extension with Premier Lotteries Ireland
Bally’s Intralot announced that its subsidiary Intralot Ireland Limited has signed a seven year contract extension, through November 2034, with Premier Lotteries Ireland (PLI). The agreement supports PLI’s continued operation of the Irish National Lottery through the remainder of its license period and reinforces Bally’s Intralot’s role as a trusted technology and services partner.
Under the terms of the agreement, Bally’s Intralot will modernise PLI’s technology ecosystem by deploying its next-generation LotosX Omni solution and PlayerX Player Account Management platform. The solution will provide a modern, cloud-based technology foundation supporting lottery operations across retail and digital channels, while incorporating advanced retailer management, instant games management, device management and content management capabilities. The agreement also includes comprehensive support and maintenance services, along with cloud operations and cybersecurity services for the first year, designed to ensure the long-term reliability, security and performance of PLI’s technology environment.
Through this partnership, Bally’s Intralot will support PLI in delivering a future-ready operating environment designed to enhance operational efficiency, accelerate innovation and strengthen player engagement. The modernisation will provide a secure, scalable and resilient platform that enables PLI to continue evolving its offerings while improving time-to-market implementation of new initiatives, along with maintaining the highest standards of reliability and service to players and retailers across Ireland.
“We are pleased to extend our partnership with Bally’s Intralot, a relationship built on trust, commitment to excellence, and shared ambition since 2014. As we look to the future, this agreement provides a strong platform for continued innovation and growth, ensuring we can deliver a modern, secure, and world-class National Lottery that places responsible play at its heart while continuing to benefit communities across Ireland,” said Cian Murphy, CEO of PLI.
Robeson Reeves, CEO of the Bally’s Intralot Group, said: “We are proud to extend our long-standing partnership with Premier Lotteries Ireland for a further seven years. This agreement reflects the strength of our technology and the trust we have built with PLI over more than a decade of collaboration. We look forward to continuing to support the National Lottery of Ireland and to delivering innovative, responsible gaming experiences to players across the country.”
The post Intralot Ireland Limited Signs Seven Year Contract Extension with Premier Lotteries Ireland appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Artificial Intelligence
Kambi Delivers Record-breaking World Cup with More Than 100 Million Bets as Bet Builders and Player Props Take Centre Stage
Kambi, the home of premium sports betting solutions, and its global network of Turnkey Sportsbook partners have exceeded 100 million bets placed during the ongoing FIFA World Cup, with data showing the continued evolution of player betting preferences towards higher-margin products.
Data from Kambi’s global partner network shows the continued growth of player props and Bet Builder, reducing the dependency on traditional core markets to drive engagement and margin performance. This is illustrated by last week’s semi finals which had more than 700,000 unique combinations placed on each game.
The expanded tournament has delivered on the increased turnover potential that was anticipated, yet Kambi has also exceeded average turnover per match and seen an increase in average stake compared to 2022. Kambi’s geographically diversified partner network has driven betting volume across a wider range of markets and time zones, while diversifying risk and liabilities across its broad global partner base.
Key World Cup 2026 betting trends (versus 2022) across Kambi’s Turnkey Sportsbook include:
• Pre-match Bet Builder turnover up 3.6x
• Average pre-match Bet Builder selection size now 3.5 compared to 2.9
• Player shots on target is the top pre-match Bet Builder offer by turnover, generating 2x the turnover of match winner market
• Share of pre-match turnover from bets other than match winner up from 57% to 63%
• Live Bet Builder turnover up 10x
• Player shots on target is the most popular live bet, accounting for 15% of live turnover
Together, these trends underline the transition to more complex, higher-margin recreational play, helping Kambi sustain a strong tournament margin despite a competition in which the top four seeds reached the semi-finals and leading strikers frequently scored.
This shift has been facilitated by Kambi’s AI trading system, with the tournament becoming the first World Cup where bet offers across both pre-match and live were fully compiled and traded by Kambi’s proprietary algorithmic capability. This has supported greater efficiency and scalability while enabling a broader, deeper betting offer.
Combining advanced AI-driven technology with the vast data generated by its global network has enabled Kambi to deliver a wide range of product improvements, from expanded player props markets and increased Bet Builder combinability to reduced suspension times, lower live delays and enhanced uptime.
Werner Becher, CEO of Kambi, said: “Surpassing 100 million bets before the final demonstrates both the scale of our network and the progress we are making in sportsbook innovation. This is the first World Cup fully traded by our AI-powered capabilities and we’ve seen the impact in stronger product performance, greater engagement with player props and Bet Builder, and a betting mix that continues to evolve beyond traditional markets. At a tournament where results have not always been favourable for some bookmakers, these advances have enabled us to continue performing strongly and delivering for partners.”
Kambi will publish its Q2 2026 Report on 22 July, when it will share further insights from the World Cup and provide additional detail on the performance of its sportsbook products during the tournament.
The 100 million bet milestone applies to Kambi’s Turnkey Sportsbook only and does not include the millions of bets driven by Kambi’s Odds Feed+ product.
The post Kambi Delivers Record-breaking World Cup with More Than 100 Million Bets as Bet Builders and Player Props Take Centre Stage appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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