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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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Red Papaya launches Pirate’s Fight for Fortune slot with 20,000x max win
Microgaming-powered studio ships a medium-volatility title with a three-tier bonus system and 96.37% RTP.
Red Papaya has released a new slot, Pirate’s Fight for Fortune, the studio announced on 15 April 2026. The Microgaming-powered title launches with a stated maximum win of 20,000x and targets mid-range risk players with medium volatility.
The game runs a 5×4 reel layout with 40 fixed paylines, an RTP of 96.37%, and a hit frequency of 27.19%, according to the studio. The bet range is 0.20 to 12.50.
Gameplay is built around a multi-tiered bonus system with Bronze, Silver and Gold bonus levels. The base game also uses a Collect mechanic, where Pirate Coins appearing on reels 1-4 can be collected when a Collect symbol lands on reel 5, with a multiplier of 1x to 5x applied to the total value of coins collected on that spin.
An optional Boost feature increases the total bet by 50% to improve the frequency of Silver/Gold Pirate Coins and increase the chance of triggering bonus games, Red Papaya said. Bonus play uses a “Hold & Win” style format with persistent coin collection into colour-coded treasure chests above the reels.
Madelein Ozok, Head of Studio at Red Papaya, said: “With Pirate’s Fight for Fortune, we wanted to combine a classic high-seas theme with a sophisticated multi-tiered bonus structure. This game’s high quality art and engaging audio also lends to an exciting storyline which we know players love.
“By utilising a persistent collection mechanic that builds anticipation with every spin, and offering players three distinct levels of bonus gameplay alongside a massive 20,000x Grand Jackpot, we’ve created a high-engagement title that stands out in any operator’s lobby.”
The post Red Papaya launches Pirate’s Fight for Fortune slot with 20,000x max win appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
AGCO
Platipus Secures Ontario Supplier Licence
Platipus Gaming has officially obtained a supplier licence to operate in the province of Ontario, Canada. This licence allows the company to provide gaming content to licensed operators in the province and represents a significant milestone in Platipus’ ongoing focus on regulatory alignment, operational consistency, and responsible product supply.
Importance for Operators
For Ontario-licensed operators, partnering with a licensed supplier like Platipus ensures that content is delivered in line with AGCO requirements. This reduces the need for additional regulatory assessments and supports smoother integration of third-party content into licensed operations. All products are designed and supplied with responsible gambling and player protection in mind, adhering to the technical and operational standards required by the Commission.
Strategic Significance for Platipus Gaming
The Ontario licence is a reflection of Platipus’ compliance-by-design philosophy. Regulatory considerations are integrated early in the development process, rather than being addressed as a final checkpoint. This approach ensures that products, processes, and operational structures are prepared for regulated environments from the outset.
Operating under AGCO also positions Platipus to engage with other regulated markets where Ontario standards are often referenced as benchmarks. The licence supports the company’s long-term goal of maintaining consistent product quality, operational reliability, and responsible content supply across multiple jurisdictions.
Company Perspectives
A spokesperson from the Legal Department commented: “We are pleased to receive our supplier licence in Ontario and to make our gaming content and solutions available. Following a comprehensive application process, we can now formally present this achievement as part of our regulated market presence.”
Viktoriia Andreasen, Head of Marketing, added: “Ontario stands out as a well-structured and highly organised jurisdiction. It represents an important regulated market with strong operational standards”.
Ontario supplier licence confirms that Platipus can deliver content in one of the world’s most tightly regulated iGaming markets, with all technical, operational, and compliance requirements addressed.
This milestone represents more than a geographic expansion. It signals that Platipus Gaming has structured processes, robust governance, and a compliance-focused development approach, supporting sustainable regulated operations and long-term market participation.
The post Platipus Secures Ontario Supplier Licence appeared first on Americas iGaming & Sports Betting News.
customer acquisition
Media Troopers cites March Madness betting surge across US regulated markets
Media Troopers said March Madness 2026 drove one of its strongest periods for traffic and customer acquisition across US-regulated sports betting markets, following the conclusion of the tournament in which the Michigan Wolverines beat the Connecticut Huskies 69-63 in the national championship game.
The digital marketing and customer acquisition group said final figures were not yet complete, but noted consistent traffic and conversion rates across its network during the multi-week event. Media Troopers also pointed to the American Gaming Association’s estimate of a $3.3 billion handle from licensed US betting operators during this year’s tournament.
“Everyone talks about the Super Bowl as the peak moment, and in terms of a single event, that’s true,” said Media Troopers CEO, Shmulik Segal. “But March Madness betting has always been different, and we can see it by the exponential growth this year. Unlike the Super Bowl which peaks over one night, March Madness delivers scale over time. You’re not looking at one spike, you’re looking at consistent, high-intent engagement for weeks.”
The company said operators benefited from repeated touchpoints, with returning customers using existing accounts to place college basketball bets throughout the tournament. “What made this March Madness so powerful was frequency,” Segal added. “Users are not just placing one bet. The predictions, odds, and results create a new reality every day. So bettors are coming back day after day, round after round. From an acquisition and retention perspective, that’s incredibly valuable.”
Segal also tied the tournament’s impact to continued expansion in the US regulated landscape. “Regulation has changed the game,” he said. “You now have more states, more operators, and more competition. Events like March Madness allow operators to differentiate and build long-term relationships with players, not just capture one-off bets.”
The post Media Troopers cites March Madness betting surge across US regulated markets appeared first on Americas iGaming & Sports Betting News.
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