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NeoGames Announces First Quarter 2022 Results

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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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Booming Games

Booming Games Drops Lucky Charms Trio

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  • Featuring a 5×3 layout, the game provides a highest win possibility of 5,000x.
  • Mystery Symbols may show up completely or partially at any moment, producing enchanting rewards when aligned throughout the reels.
  • Gamers can dive right into the excitement with the Trio Bonus feature, offering immediate exhilaration.

Booming Games, a top supplier of high-quality gaming content, has officially released Lucky Charms Trio. The game features a 5×3 layout with a highest possible win of 5,000x. Set against a stunning, vibrant backdrop of beautiful green hills and shimmering rainbows, Lucky Charms Trio boasts a variety of thrilling features aimed at enhancing the enjoyment for players.

The grid is adorned with classic symbols of good fortune, including four-leaf clovers, shiny horseshoes, and joyful leprechauns, creating an ideal setting for St Patrick’s Day celebrations later this month. To create a feeling of thrill, Mystery Symbols may show up either partially or completely at any moment, allowing players to align symbols across the reels to produce enchanting rewards.

Activating the Lucky Pots Feature reveals as many as seven unique bonus variations; Boost, Multiply, and Collect, in various combinations. Every pot can provide its own bonus independently or combine with others, and the maximum payout occurs when all three features trigger simultaneously for the largest rewards. To maintain the momentum, players have the option to utilize the thrilling Boost+ feature, or dive directly into the excitement with Buy Bonus and Trio Bonus for immediate enjoyment.

Craig Asling, Director of Games at Booming Games, said: “Step into the realms of sparkling fortune with Lucky Charms Trio, our vibrant new slot game where shimmering reels and playful surprises build excitement with every spin. With St Patrick’s Day just around the corner, our latest release demonstrates our ability to develop games that connect with both local and global audiences. Fast-paced, dynamic gameplay and large win potential combine to create an ultimate gameplay experience packed with adventure. Play Lucky Charms Trio now!”

The post Booming Games Drops Lucky Charms Trio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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ENJOY and Casimba Gaming form partnership to extend global market presence

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Collaboration brings ENJOY’s complete growing range to Casimba’s platform.

ENJOY, the vibrant iGaming content producer, has finalized a new distribution contract with Casimba Gaming, enhancing its international presence in important regulated markets.

This partnership will result in ENJOY’s complete range of high-end slot games being incorporated into the Casimba platform, featuring the recently launched favorites Diamond Slam and Hotfire Diamonds 2. The contract also includes ENJOY’s creative live hybrid game shows, like Aztec Roulette and Egypt Roulette, broadcast continuously from a specially designed studio.

Having solid bases in the US social and sweepstakes market, along with the regulated sectors in the UK and Canada, Casimba Gaming offers ENJOY improved distribution prospects in some of the industry’s leading areas.

The collaboration enhances ENJOY’s strategy to broaden its reach in regulated and emerging markets while providing high-quality, feature-rich content to a wider network.

Christos Zoulianitis, Chief Commercial Officer at ENJOY, said: “Partnering with Casimba Gaming represents an important step in our distribution strategy as we continue to scale internationally.

“Our portfolio continues to expand, with new slot releases and our hybrid live game shows delivering consistent engagement. This agreement allows us to broaden the availability of our content and introduce it to new audiences on a global scale.”

Lavina Karlsson, Chief Commercial Officer – B2B at Casimba, added: “ENJOY’s established slot portfolio, combined with its unique hybrid live game show releases, brings a balanced and differentiated appeal that strengthens our content offering.

“Our focus is on delivering diverse, high-quality content across our network, and ENJOY’s products are a strong addition to that mix. This partnership supports our commitment to expanding the range of content available through our platform and driving continued growth for all parties involved.”

The post ENJOY and Casimba Gaming form partnership to extend global market presence appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Relax Gaming Expands Blockbuster Series With Debut of Treasure Tumble

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Relax Gaming, the premier iGaming aggregator and provider of original content, has unveiled the newest entry in its successful Tumble series, Treasure Tumble.

The high-volatility underwater experience capitalizes on the already prevalent popularity of the series, while incorporating the revolutionary Supercharge feature aimed at enhancing player retention.

The Tumble series has consistently been a key factor in reliable performance and significant player lifetime value. Treasure Tumble enhances this dependable base, taking cues from its Dream Drop counterpart while emphasizing customizable gameplay.

The title Boost innovation enables operators to serve a variety of player types. By providing a complete range of Upgrade Spins, players can quickly dive into the core of the excitement.

Players can choose between Enhanced Spins for more frequent bonuses or Galleon Spins for high-multiplier volatility, allowing them to tailor their experience, which boosts session duration and return visits.

The mathematical model of the game stays strong, featuring an 8×8 cluster-pays layout and a highest payout of 10,000x. Featuring constant multipliers in the Super Galleon Bonus and a player-friendly mechanic that creates real momentum, the game is set to serve as a key revenue source for the 2026 season.

Tony O’Mahony, Chief Product Officer at Relax Gaming, said: “Our Tumble games have been a huge success for our partners, and with Treasure Tumble, we’re giving players even more control.

“We’ve supercharged this title with attractive options so that players can really play their way. It’s about giving them what they want, when they want it. That’s the best way to give players exactly what they enjoy.”

The post Relax Gaming Expands Blockbuster Series With Debut of Treasure Tumble appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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