Latest News

TVBET unites forces with Technamin

Published

2 years ago

July 20, 2022

Reading Time: 2 minutes

The B2B provider of live games, TVBET, has signed a partnership with the ultimate iGaming platform Technamin. The new deal promises to be flourishing for both sides.

TVBET moves to its goal of solid strengthening in the igaming arena. The new step towards it is concluding a successful agreement with the Technamin igaming platform. The B2B provider of TVBET offers a wide range of exciting live games for integration. Its partners are online and offline casinos and bookmakers all over the world.

Technamin is a young igaming brand with a keen focus on excellence in delivering innovative software solutions and outstanding managed services. Technamin’s product kit includes a fully customisable Sportsbook, state-of-the-art Player Account Management (PAM) system, a dynamic casino with a megaton of the best games from top providers, an advanced CRM designed to meet any customer retention demand, a wide range of Live Score and Statistics, comprehensive payment gateways, and a lot of other perks for operators and their players. From this moment, top-notch live games from TVBET B2B provider are available in Technamin’s suite as well.

Suren Khachatryan, Technamin’s founder and CEO, said about the partnership: “TVBET bring some of the most exciting products to the table, and we’re very excited to offer them to players. Both of our companies have the clear end-game in mind and that is offering the best there is in the iGaming industry, and I think this partnership is a significant step in the right direction. We’re looking forward to what the future brings!”

Peter Korpusenko, TVBET’s CEO, has stated: “We’re glad to unite our forces with Technamin brand, since we see great proscpects in this cooperation. Our companies move under one goal – to provide high-quality products for the gaming field. And we’re sure that this recently signed deal will help us grow bigger and deliver the best products to the end-customers”.

Latest News

Genius Sports Reports First Quarter Results Above Expectations and Raises 2024 Group Revenue and Adj. EBITDA Guidance

Published

21 mins ago

May 14, 2024

George Miller

genius-sports-reports-first-quarter-results-above-expectations-and-raises-2024-group-revenue-and-adj.-ebitda-guidance

Reading Time: < 1 minute

Q1 Earnings 2024 Carousel 8th May

Group Revenue of $120m, exceeding first quarter guidance of $117m
Group Net Loss of ($26m) and Group Adj. EBITDA of $7m, exceeding guidance of $6m
Raised 2024 Group Revenue and Adj. EBITDA guidance to $500m and $82m, respectively, up from prior guidance of $480m and $75m
Reaffirming expectation to generate positive cash flow in 2024
Increased financial flexibility by entering into $90 million committed revolving credit facility with Citibank and Deutsche Bank

Genius Sports Limited, the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal first quarter ended March 31, 2024.

“Following a strong year of execution in 2023, we are pleased to continue our momentum to start the new year, with the first quarter of 2024 marking another period of outperformance relative to expectations,” said Mark Locke, Genius Sports Co-Founder and CEO. “As we expand our technology footprint and work to extend one of our most important data partnerships with Football DataCo, we feel an enhanced sense of excitement and confidence in our outlook for 2024 and beyond.”

*$ in thousands*	Q124	Q123	%
Group Revenue	119,718	97,229	23.1%
Betting Technology, Content & Services	73,897	64,740	14.1%
Media Technology, Content & Services	35,475	21,764	63.0%
Sports Technology & Services	10,346	10,725	(3.5%)
Group Net loss	(25,541)	(25,168)	(1.5%)
Group Adjusted EBITDA	6,878	8,042	(14.5%)
Group Adjusted EBITDA Margin	5.7%	8.3%	(260 bps)

View the full press release here.

The post Genius Sports Reports First Quarter Results Above Expectations and Raises 2024 Group Revenue and Adj. EBITDA Guidance appeared first on European Gaming Industry News.

Gambling in the USA

Gaming Americas Weekly Roundup – May 6-12

Published

21 mins ago

May 14, 2024

Niji Narayan

gaming-americas-weekly-roundup-–-may-6-12

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Texas Lottery players are bracing for a chance to have an instant hit when they play four new scratch ticket games that launched on May 6. The HIT family of games, ranging in price from $1 to $20, features more than $220 million in total combined cash prizes with top prizes ranging from $5000 to $1 million. In addition, the HIT family is paired with the Sedona Day of Luck Promotion, offering players with non-winning tickets a chance to win a luxurious trip to Sedona, Arizona.

International Game Technology announced that its subsidiary, IGT Global Solutions Corporation, has signed a five-year contract with the Atlantic Lottery Corporation (Atlantic Lottery), to implement high-performing features and exciting new games for players in Atlantic Canada. As part of the agreement, IGT will deploy its advanced cloud-based remote game server (RGS) and at least 16 digital instant games each year.

Bragg Gaming Group announced that Neill Whyte has been appointed as Chief Commercial Officer, effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team. Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s B2B iGaming Division.

In an exciting development for sweepstakes operators across the US, CasinoWebScripts has announced a significant milestone: the release of more than 200 in-house developed sweepstakes casino games. This achievement highlights the company’s commitment to innovation and its dedication to providing high-quality, engaging gaming experiences without the burden of monthly revenue sharing.

Partnerships

SCCG Management announced a strategic partnership with Globe Gaming Limited, aiming to significantly extend its global reach with a focus on the European market. This collaboration marks a significant milestone in SCCG’s efforts to broaden its influence in the gaming and sports entertainment sectors internationally.

NBC Sports will continue to present the Kentucky Derby on NBC and Peacock through 2032, as Churchill Downs Incorporated (CDI) and NBC Sports announced a multi-year extension of their partnership. The extension of the NBC Sports-Churchill Downs relationship – which began with the 2001 “Run for the Roses” – will make NBC the longest running home of the Kentucky Derby, as NBCUniversal will become the first media company to present the most prestigious event in horse racing for three decades (32 editions of the Kentucky Derby from 2001-32).

WinnaVegas Casino Resort, a premier destination in Western Iowa, announced the extension of its partnership with Quick Custom Intelligence (QCI), a leading provider of advanced analytics solutions for the gaming industry. This renewal underscores WinnaVegas’ commitment to leveraging cutting-edge technology and superior support to drive business success.

The PGA of America and PENN Entertainment announced a multiyear sports betting partnership. Under the agreement, ESPN BET becomes the “Official Sports Betting Sponsor” of the PGA Championship through 2026. The 2024 PGA Championship will take place at Valhalla Golf Club in Louisville, Kentucky from May 16-19. This agreement marks a milestone for the PGA Championship as it becomes the first men’s golf major to establish an official sports betting sponsor.

The post Gaming Americas Weekly Roundup – May 6-12 appeared first on European Gaming Industry News.

AGS

AGS Enters Into Definitive Agreement To Be Acquired By Brightstar Capital Partners for Approximately $1.1 Billion

Published

21 mins ago

May 14, 2024

GamingAmericas.com

ags-enters-into-definitive-agreement-to-be-acquired-by-brightstar-capital-partners-for-approximately-$1.1-billion

PlayAGS, Incorporated, a global gaming supplier of high-performing slot, table, and interactive products, today announced that it has signed a definitive agreement to be acquired by affiliates of Brightstar Capital Partners (“Brightstar”), a middle market private equity firm focused on investing in industrial, manufacturing, and services businesses.

The Company’s Board of Directors has unanimously approved, and recommended that the Company’s stockholders approve, the agreement. AGS shareholders will receive $12.50 per share in cash. The per share purchase price represents a 41% premium to the Company’s volume-weighted average share price over the last 90 days and a 40% premium to AGS’ closing price on May 8, 2024.

AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Powered by high-performing slot products, an expansive table products portfolio, and highly rated online casino content, the Company believes it offers an unmatched value proposition for its casino partners.

“We are very pleased to reach this agreement, which we believe provides our stockholders with compelling, certain cash value. Joining forces with Brightstar represents an exciting new chapter for AGS and our mission to provide exceptional gaming solutions for our operator partners,” said David Lopez, CEO & President of AGS. “With Brightstar’s resources and strategic guidance, we believe AGS will be well-positioned to make targeted investments in R&D, top talent, operations, and industry-leading innovation, which should accelerate our global footprint.”

“We look forward to working with David and the AGS team to capitalize on opportunities by taking a long-term approach to creating value,” said Andrew Weinberg, Founder & CEO of Brightstar. “AGS has a strong pipeline of new products, and we believe the Company’s innovative approach to game development provides significant potential for continued growth.”

“We have been impressed by AGS’ award-winning products, differentiated culture, and outstanding reputation in this expanding industry,” said Roger Bulloch, Partner at Brightstar. “We trust that partnering with AGS and executing on our shared vision can accelerate the Company’s ability to create even greater value for its customers and players around the world.”

Macquarie Capital is serving as financial advisor and Cooley LLP is serving as legal counsel to AGS. Jefferies LLC is serving as lead financial advisor to Brightstar. Barclays and Citizens JMP Securities are also serving as financial advisors to Brightstar. Kirkland & Ellis LLP is serving as legal counsel to Brightstar.

First Quarter 2024 Financial Results

In light of the proposed transaction, AGS has canceled its previously announced conference call to discuss its first quarter 2024 financial results, which had been scheduled for Thursday, May 9, 2024, at 5:00 p.m. EDT. Additionally, AGS will not be issuing a quarterly earnings release. The Company expects to file its 10-Q for the quarter ended March 31, 2024 with the SEC later today.

Timing and Approvals

The proposed transaction, which is expected to close in the second half of 2025 is subject to customary closing conditions, including the receipt of regulatory approvals and approval by a majority of AGS stockholders. Upon completion of the transaction, AGS will become a privately held company and shares of AGS common stock will no longer be listed on any public market.