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NeoGames Announces First Quarter 2022 Results

Published

4 years ago

May 12, 2022

Reading Time: 2 minutes

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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CasinoCanada partners with FortuneJack to expand crypto casino coverage

Published

56 minutes ago

May 4, 2026

Wladimir P.

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CasinoCanada.com has partnered with FortuneJack crypto casino to increase FortuneJack’s visibility and drive traffic via CasinoCanada’s content channels in non-regulated Canadian markets.

Under the deal, CasinoCanada will create and publish informational content focused on FortuneJack’s features and gaming portfolio. The material will be integrated into CasinoCanada’s review and comparison sections, which the company said is intended to expand coverage and improve user navigation.

CasinoCanada is an online casino guide focused on the Canadian market and operated by SEOBROTHERS. Eugene Ravdin, Head of PR at SEOBROTHERS, said: “Our objective is to provide users with structured information about FortuneJack’s platform and support consistent traffic development. With crypto casinos rapidly growing in popularity and becoming an increasingly important segment of the iGaming industry, we see strong potential in this direction and aim to help users navigate it with clarity and confidence.”

FortuneJack, established in 2012, said it offers over 3,500 games, including more than 2,700 slots, from providers including Pragmatic Play, Yggdrasil, Betsoft Gaming, Red Tiger, GameArt, and PG Soft. The operator also lists up to 135 live casino games and betting across 50 sports. FortuneJack is operated by PlayWave SRL and is registered and licensed under Anjouan laws.

Sally Betanishvili, Brand Manager at FortuneJack, said: “At FortuneJack, Since 2014 our priority is staying at the forefront of the iGaming evolution by offering a premier crypto-gaming experience. Partnering with CasinoCanada allows us to bring our extensive portfolio of over 6000+ games to a wider Canadian audience that values transparency and variety. We are excited to work with a partner that shares our commitment to helping players navigate the exciting world of crypto casinos with confidence.” The companies said the partnership will focus on ongoing content development, increased platform visibility, and user acquisition initiatives across CasinoCanada’s media channels.

The post CasinoCanada partners with FortuneJack to expand crypto casino coverage appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Latest News

Stake launches in Mexico via Uno Capali permit structure

Published

56 minutes ago

May 4, 2026

Wladimir P.

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Stake has launched its online casino and sportsbook in Mexico, going live on the stake.mx domain as the operator continues its expansion across regulated Latin American markets.

The company said it will operate in Mexico under a permit-based structure regulated by SEGOB (the Ministry of Interior), acting as an agent under Uno Capali’s licence agreement.

Stake positioned the timing around Mexico’s role as a co-host of the 2026 World Cup alongside the USA and Canada, citing the event’s potential for customer acquisition and brand-building.

Stake Director Jarrod Febbraio said: “Mexico is an important and exciting market for us – one that combines strong underlying growth with a deep cultural connection to sport, which aligns perfectly with what Stake is built for.

“We’ve built significant momentum across Latin America in recent years, including in markets such as Peru and Colombia, and Mexico represents a natural next step given its scale and long-term potential.

“With Mexico set to co-host the 2026 football World Cup tournament, the timing of this launch reflects our ability to move with precision into high-value markets at the right moment. It gives us the opportunity to establish a strong presence ahead of one of the biggest sporting events in the world and deliver a world-class experience for Mexican players.”

The post Stake launches in Mexico via Uno Capali permit structure appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

BLAST

Team Vitality sweeps NAVI 3-0 to win BLAST Rivals Spring 2026

Published

56 minutes ago

May 4, 2026

Wladimir P.

team-vitality-sweeps-navi-3-0-to-win-blast-rivals-spring-2026

Team Vitality won BLAST Rivals Spring 2026 in Fort Worth, Texas, defeating Natus Vincere 3-0 in the Counter-Strike 2 grand final, according to the organisation’s announcement.

BLAST Rivals Spring 2026 featured eight teams and a $350,000 prize pool. Vitality opened with a 2-1 win over FUT Esports, then beat G2 2-1 in the group winner’s match to book a semifinal spot.

In the semifinals, Vitality moved past GamerLegion 2-0 to reach the final, where it completed a clean sweep of NAVI.

Mathieu “ZywOo” Herbaut was named tournament MVP. Vitality also positioned the result as its fifth title of the season and noted it followed its IEM Rio victory and a record of two ESL Grand Slam titles.

The post Team Vitality sweeps NAVI 3-0 to win BLAST Rivals Spring 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.