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ProgressPlay takes new standalone product to Asia

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ProgressPlay, renowned as one of Europe’s Top 10 Casino Tech Solutions Providers in 2024, is set to make waves in the Asian iGaming sector with its groundbreaking standalone product. Making its debut at SIGMA Asia 2024 in Manila, ProgressPlay aims to captivate attendees with its innovative offerings showcased at stand BR917.

With ProgressPlay’s new standalone product, partners are able to market all markets.

SIGMA Asia, slated to run from June 3rd to 5th at Manila’s esteemed SMX Convention Centre, has already generated immense anticipation within the industry. With a diverse array of top-tier B2B and B2C exhibitors, including ProgressPlay, the event promises to be an unrivaled gaming hub, expected to attract over 20,000 delegates.

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The Asian iGaming industry is experiencing exponential growth, fueled by technological advancements and a surge in demand for online gaming experiences. With the widespread adoption of mobile devices and digital payment methods, coupled with the popularity of online gaming, the sector presents lucrative opportunities for gaming entrepreneurs seeking to establish their presence across the continent, starting with a standalone solution.

Marina Nahhas, Sales and Marketing Manager at ProgressPlay said: “We are super excited making our debut at SIGMA Asia with our latest products. Our standalone product has huge potential for local markets and the exhibition gives us an excellent opportunity to present it to a large number of potential new customers.”

ProgressPlay’s standalone licensee offering made its debut at ICE back in January, and in this arrangement ProgressPlay serves as the technology provider while partners take charge of all their own operations.

ProgressPlay’s platform has been meticulously developed over the years, boasting a team of top-notch professionals dedicated to serving regulated markets including the UK. The platform is fully equipped to meet all the diverse requirements, many of which are proprietary services developed in-house.

Notably, ProgressPlay’s platform boasts proprietary AI capabilities for safer gambling shortlisted in the EGR Awards, setting it apart in the industry. Moreover, the platform offers unparalleled flexibility, enabling operators to tailor their offerings to specific regions and regulatory requirements. Through a strategic joint venture with a reputable cashier, ProgressPlay facilitates seamless integration of various payment methods, catering to the diverse needs of its partners.

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ProgressPlay CEO Itai Loewenstein said:“The biggest advantage of the standalone platform is that it enables operators to have a much wider selection of countries and regulatory territories to choose from based on the licenses they hold and the built-in proprietary cashier that is easily adapted to the relevant markets and payment processors. An additional advantage for operators is the ability to create brands under the standalone platform, which is especially helpful in generating healthy ROI in Asian markets which we will be showcasing on stand BR917 at SiGMA Asia.”

The post ProgressPlay takes new standalone product to Asia appeared first on European Gaming Industry News.

Asia

Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr

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Nazara Technologies Limited a diversified gaming and sports media platform announced its unaudited Standalone and Consolidated results for the quarter and Fiscal Year ended 31st March 2024.

Key Consolidated Financial Highlights for FY24 are as follows:

Revenue grew by 4.3% to INR 1,138.3 Cr as against INR 1,091.0 Cr in FY23

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EBITDA increased by 16.6% to INR 127.9 Cr as against INR 109.8 Cr in FY23

EBITDA margin increased by 110 bps to 11.2% in FY24 from 10.1% in FY23

Operating Cash Flow (pre-taxes) was INR 131.4 Cr in FY24

PAT (from continuing operations) increased by 41.2% to INR 89.5 Cr in FY24 as against INR 63.4 Cr in FY23

PAT including discontinued operations increased by 21.8% to INR 74.8 Cr in FY24 as against INR 61.4 Cr in FY23

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Net Cash Balance of INR 1,449 Cr as of March 31, 2024

 

Key Consolidated Financial Highlights for Q4FY24 are as follows:

Revenue of INR 266.2 Cr as against INR 289.3 Cr in Q4FY23

EBITDA increased to INR 29.3 Cr as against INR 27.8 Cr in Q4FY23

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EBITDA margin increased by robust 140 bps to 11.0% in Q4FY24 from 9.6% in Q4FY23

PAT (from continued operations) of INR 17.1 Cr as against INR 11.9 Cr in Q4FY24

Commenting on the Q4 & FY24 performance, Nitish Mittersain, Founder, CEO & Jt MD of Nazara Technologies stated:

FY24 has been a year of building a strong foundation for rapid future scaling. We achieved a 4.3% revenue growth and a 16.5% EBITDA growth, with our margin improving by 110 bps YoY to 11.2%. Notably, our Operating Cash Flow increased to INR 131.4 Cr, reflecting the company’s strong underlying performance.

We raised INR 950 crores at Nazara and subsidiaries, our largest fundraise to date, resulting in a net cash balance of INR ~1,450 crores.

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Key initiatives from FY24 are set to yield results in the coming year, including our new publishing platform, new game launches through existing studios, IP partnerships, and a strong M&A pipeline. Subsidiaries are also successfully adopting our M&A playbook, with Absolute Sports (Sportskeeda) acquiring Pro Football Network (PFN) in March 2023, doubling PFN business post-acquisition and turning it profitable. Nextwave acquired UTP (a casual card game) in April 2024, and NODWIN Gaming acquired Comic Con India.

We are optimistic about FY25, expecting accelerated growth in both revenue and EBITDA. With substantial cash reserves and a robust M&A pipeline, we are well positioned to seize further growth opportunities and enhance our growth trajectory through strategic M&A over the next 12 months.

We have also announced acquisition of 100% stake in Nextwave Multimedia Private Limited, developers of the popular mobile cricket games under the “World Cricket Championship” franchise.”

The post Nazara FY24 EBITDA increases by 16.6% to INR 127.9 Cr, Operating Cash Flow of INR 131.4 Cr appeared first on European Gaming Industry News.

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Amusnet to Showcase Excellence at SiGMA Asia 2024

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Amusnet has announced its participation at SiGMA Asia 2024, which will take place in Manila, Philippines, from June 3 to 5. The company’s presence signifies a pivotal development moment and is a strategic leap forward in its global expansion, with a particular focus on tapping into the rapidly growing Asian market.

The leading casino solutions provider will showcase expertise and a curated selection of offerings across Online Casino, Live Casino and Land-based verticals featuring its latest innovation – the Type S slot cabinet series. The online casino selection consists of signature slot titles like 20 Golden Coins, Extra Crown, and Candy Palace, together with tailored content for the local audience: the upcoming slot release, Dragon’s Birth and the Live casino offers Speed Baccarat and Dynamic Sic Bo.

“As we enter the spotlight at SiGMA Manila this year, we embrace the exciting opportunity to connect with the vibrant Asian gaming community. Our presence at the prestigious event underscores our dedication to broadening our reach and delivering top-notch gaming experiences catering to a wider audience. Do not miss the chance to experience firsthand the premium Type S slot machines at SiGMA Asia, explore the thrill and discover new business opportunities! See you at booth D214,” Borislav Marinov, Head of Land-based Business Development at Amusnet, said.

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Land-based

Type S is the company’s first-ever high-end slot cabinet series, manufactured according to the utmost standards of the global land-based casino industry. It brings together state-of-the-art technology, premium design and exceptional player engagement for an extraordinary gaming experience. The game portfolio consists of 40 of Amusnet’s in-house slot titles, such as Hot Deco, Phoenix Star, Secrets of Sherwood, Fruits & Gold, Greek Fortune, Cocktail Rush, etc., together with the famous Amusnet’s four-level bonus game, Jackpot Cards.

Online Casino

Dragon’s Birth is an upcoming slot packed with exciting features promising an exhilarating gameplay experience. During Symbol Shift, eggs randomly transform into high-paying dragons to improve winning combinations. Free Spins have great winning potential thanks to the high-paying symbol multipliers awarded by the Dragon’s Wheel. In addition, players can enjoy the popular Buy Bonus feature.

Live Casino

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At the event, visitors will be able to experience two of the upcoming Live Casino games – Speed Baccarat and Dynamic SicBo. Both are hosted by entertaining live dealers and stand out with a high quality, low latency 24/7 stream, providing fast gameplay, chat functionality and re-bet and double-bet options. Speed Baccarat is a famous Asian card game of luck with three types of bets and a side bet option. The Asian dice game of chance, Dynamic Sic Bo, is played with three dice and offers a wide variety of eight different betting possibilities.

The post Amusnet to Showcase Excellence at SiGMA Asia 2024 appeared first on European Gaming Industry News.

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Quezon City Mayor Bans Government Employees from Solaire North Casino

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The mayor of Quezon City, Josefina Belmonte, has said that all officials and employees of her administration are prohibited from entering the soon-to-open Solaire Resort North casino property, being developed in the city by Philippines-listed Bloomberry Resorts Corp.

Belmonte said Solaire North has created an electronic databank consisting of photographs of all 19K city employees that will be used to assist casino security in preventing access to excluded persons.

The mayor was speaking at the inaugural “International Conference on Responsible Gambling and Gaming Addiction”, held in Quezon City and backed by the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor).

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According to Ms Belmonte, an electronic device posted at each entrance of the casino at Solaire Resort North would identify any city government official or employee, barring their access to the gaming venue. Quezon City public servants would still be allowed to visit other areas of the resort, she added.

“Even if one wears a wig, a mask or a hat, one’s face can still be detected using a very sophisticated system,” the mayor said.

The post Quezon City Mayor Bans Government Employees from Solaire North Casino appeared first on European Gaming Industry News.

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