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

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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.

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Playson launches online casino games in Nigeria via BetKing deal

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Playson has partnered with KingMakers to launch a selection of its online casino titles in Nigeria through the operator group’s sportsbook and gaming brand, BetKing.

Under the agreement, Playson will distribute a portfolio of games to BetKing players via the EveryMatrix aggregation platform. The supplier said the games have been rebuilt and optimised for African audiences.

First titles live include Coin Strike: Hold and Win, Energy Coins: Hold and Win, and Sevens & Fruits: 20 lines.

Conor Jenner, Senior Sales Manager at Playson, said: “Partnering with KingMakers is another exciting step in our expansion across Africa, a region that continues to present significant opportunities for growth and innovation.

“BetKing has built a formidable reputation and loyal player base in Nigeria and beyond, making them an ideal partner for our content. We are particularly pleased to launch with a selection of games optimised specifically for African markets, ensuring players receive a highly engaging entertainment experience from day one.”

Nick Baker at KingMakers, said: “Playson’s portfolio features a strong mix of proven-performing content and engaging gameplay, making this partnership an excellent addition to our casino offering.

“We are committed to delivering first-class entertainment experiences for our players, and integrating games tailored for our markets supports that ambition while strengthening the quality of content available through BetKing.”

The post Playson launches online casino games in Nigeria via BetKing deal appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Ariel Reem CEO at Games Valley

Games Valley adds Imagine Live content to its live casino aggregation platform

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Deal brings Imagine Live’s 100+ active tables and multilingual studios in Armenia, Romania and Spain to operators via a single integration.

Games Valley has partnered with Imagine Live to expand its live dealer catalogue, adding the supplier’s live casino content to the Games Valley aggregation platform via a single integration.

Imagine Live operates live dealer studios in Armenia, Romania and Spain, and said it surpassed more than 100 active tables last year. The supplier also offers language-specific tables aimed at supporting localized live casino lobbies across markets.

Under the agreement, operators on Games Valley will be able to access Imagine Live’s live dealer titles, including classic table games and game show-style formats.

Ariel Reem, CEO at Games Valley, said: “Live casino has become one of the most important verticals for operators, but building a strong live casino lobby can still be complex, fragmented and time-consuming. At Games Valley, our role is to remove that complexity, bringing some of the best selection of live dealer content on the market via a single integration. We’re delighted to welcome Imagine Live to our growing live casino portfolio.”

Nadiya Attard, CCO at Imagine Live, added: “Games Valley has built a strong reputation as a modern, flexible aggregation partner for operators that want access to premium content without unnecessary integration friction. We are excited to make our live casino portfolio available through the platform and look forward to supporting operators across multiple regulated markets. Brazil is a particularly important focus for us, and we see significant opportunities to further expand our presence in the country’s fast-growing regulated market.”

The post Games Valley adds Imagine Live content to its live casino aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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PG Soft releases Super Wildrix slot with expanding wilds and multiplier wheel

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The 5×5 video slot includes an Ante Bet option and Feature Buy, with a stated maximum win of 20,000x.

PG Soft has released Super Wildrix, a new 5×5 video slot built around expanding wild symbols and multiplier mechanics.

The title’s core mechanic is the Wildrix symbol, which lands with a x2 multiplier and expands to fill an entire reel. According to the company, all wins are multiplied by the total sum of active Wildrix multipliers when one or more expanded Wildrix symbols appear on the reels. Wild & Wildrix symbols substitute for all other symbols except Scatter.

A Free Spins Feature triggers with three, four or five Scatter symbols, awarding 10, 15 or 20 free spins. PG Soft said a Multiplier Wheel spins at the start of each free spin to reveal a multiplier between x2 and x100. If expanded Wildrix symbols land during the feature, their x2 multipliers are further multiplied by the wheel’s value before wins are paid. The feature can also award three extra spins if two Scatter symbols hit during free spins, and it can be re-triggered.

The game includes an Ante Bet option that increases the wager by 10x and, PG Soft said, guarantees at least one Wildrix symbol on every spin and free spin. A Feature Buy option allows direct access to the Free Spins Feature. PG Soft listed the maximum win as 20,000x the bet.

PG Soft’s spokesperson commented: “Super Wildrix is a heroically bold slot, putting players right in the middle of the action. The Expanding Wildrix symbol with its multiplier mechanics makes for real moments of excitement and the Multiplier Wheel during Free Spins can lead to some truly spectacular wins. We are thrilled to release a title that combines engaging gameplay with a story that really pulls players in from the first spin.”

The post PG Soft releases Super Wildrix slot with expanding wilds and multiplier wheel appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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