Latest News
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting
Dear Cashmere Holding Company (OTC: DRCR) also known as Swifty Global (Swifty), is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products the company develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the companyâs proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platforms.
Swifty Global is pleased to announce the completion and publication of the companyâs quarterly disclosure, now available on the OTC Market website. For the second quarter of 2024, compared to the same period in 2023, the company reported a robust financial performance with the following key highlights:
- Cash on Hand: Increased by approximately 37%.
- Total Assets: Increased by $2.1 million, representing a growth of approximately 35%.
- Liabilities: Reduced by $1.1 million, a decrease of approximately 35%.
While revenue and net income were slightly reduced compared to Q2 2023, this outcome was the result of the companyâs contunued efforts to conservatively manage its risk profile by limiting exposure to larger players utilizing the Swifty platform, which in turn impacted the companyâs revenue and net income. Despite this, the companyâs strategic focus on long-term stability and growth has paid off. The impressive results from the second quarter have led to a significant increase in shareholdersâ equity, reaching $5.9 million. This achievement is a critical milestone, meeting the listing requirements for major exchanges and providing Swifty with a solid foundation for its planned transition to a major national exchange.
Throughout this quarterly period, the company has been highly focused on preparation for its uplisting to a national exchange, with a strong emphasis on balance sheet strength and risk reduction. By maintaining a disciplined approach and concentrating on building value, Swifty Global has prioritized financial stability by growing cautiously out of its own cash flow, avoiding debt, and minimizing dilution. This strategy has positioned the company extremely well for its next phase of growth and its planned transition to a major national exchange. This focus will continue into Q3 and Q4, with Swifty aggressively pursuing the uplisting process and aiming to be fully operational on a major exchange by Q4, 2024.
âWe take great pride in what we have achieved at Swifty and the strong financial health weâve maintained across the company as we release our Q2 2024 quarterly results. Our performance in Q2 is a testament to the disciplined approach weâve taken to build long-term value,â said James Gibbons, CEO of Swifty Global. âWeâve focused on fortifying our balance sheet and reducing risk, which has positioned us well for the next phase of our growth as we move toward listing on a major exchange. As we continue to execute our strategy, we remain committed to sustainable growth, leveraging our solid financial foundation to pursue new opportunities, expand our market reach, and deliver increased value to our shareholders.ââ
During this period, Swifty successfully obtained and was officially granted its gambling license for South Africa by the National Gambling Board. This license, along with the Irish license obtained in Q1 of this year, has positioned the company in a very strong position to grow and scale its product offering into new territories. After investing considerable time, effort, and resources in securing these licenses, the company is now poised to aggressively execute its scaling and growth strategy by expanding its market reach and operational capabilities into these markets, which have a combined gambling market valued at over $7.1 billion annually.
Latest News
Huge Jackpot at King Billy Casino: C$3,658,306!
King Billy Casino, launched in 2017, has had some impressive players wins during the âreign of King Billyâ. A few of them include Live Game winnings of âŹ135,223, daily winnings from 2 or more slots of $164,000, and âŹ250,000 won on a single spin. However, the latest win by a King Billy Casino player dwarfs every big win that has come before this. Actually, itâs bigger than all previous big wins combined for the operator!
Because, we are talking about C$3,658,306.
This amazing six-digit number was the result of a player going on a safari in her (and millions of other players) beloved Mega Moolah progressive slot from Games Global. In an autumn, the player stepped into eternal summer by wagering a small C$6,25 bet and winning 562.816 times her bet! This is the power of Mega Moolah, as evidenced at King Billy.
King Billy people had only warm words for the occasion. A representative of the casino has stated: âWe are elated, for this huge big win. We can never forget that our first big win, many years back, was more than 200,000 Canadian dollars, so we have special ties with the region. And itâs now amazing to see our VIP-player making such a cashback and echoing that big win! Congratulations to our playerâ.
A few words about Mega Moolah. It was an Internet sensation when it was launched with its beautiful graphics and sounds, and immersive gameplay and it is a sensation today, still going strong after almost 20 years. The slot, which has spawned more than 20 variations, and has given millions in cash to players all over the world (including 5 millionaires in 2024 alone) features 4 types of jackpots that make it stand out from the competition.
About Games Global
Games Global is a supplier of the online gaming industry delivering force and direction to gaming with more than 1,300 top class games. The company has made a commitment to deliver the industryâs more disruptive ideas and compelling data-driven gaming experiences. Games Global features a total of 40+ partnered and in-house studios, services 600+ branded websites and boasts record-breaking jackpots with its worldwide network.Â
About King Billy Casino
Established on St Patrickâs Day in 2017, King Billy is a renowned new generation casino with more than 26 awards and accolades. The casino is available in English, German, French and Finnish, and created a unique user experience, building on the theme of King Billy and his Kingdom. King Billy ensures that all its players, âCitizensâ in the casino language, receive the care and attention they deserve.
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The post Huge Jackpot at King Billy Casino: C$3,658,306! appeared first on European Gaming Industry News.
Boyd Interactive
Playân GO announces landmark partnership with Resorts Digital Gaming
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Playân GO, the worldâs leading casino entertainment provider, has today announced its latest US operator partnership, with Resorts Digital Gaming, in the state of New Jersey.
Resorts Digital Gaming was acquired by Boyd Interactive in September 2024, and this announcement sees the groupâs players on the www.resortscasino.com and www.mohegansuncasino.com brands in New Jersey gain access to a multitude of classic Playân GO game titles, such as the legendary Book of Dead, Rise of Merlin, and Rise of Olympus.
Playân GO entered New Jersey in September 2022, shortly after first launching in the US via the state of West Virginia in July of that year. It has since seen its games live in Michigan, Pennsylvania, and most recently, Connecticut.
Magnus Olsson, Chief Commercial Officer at Playân GO, commented âNew Jersey has been of crucial importance to our US operations for over two years now, so it is with great pleasure that we make this announcement in conjunction with Resorts Digital Gaming.
âThe company joins together two instantly recognizable operator brands, and the addition of Playân GOâs games will be of enormous mutual benefit. We confidently describe ourselves as the worldâs leading casino entertainment provider, and partnerships like this one are of great importance to us in establishing that idea. Weâre excited to see this partnership flourish.â
Jim Ryan, Chief Executive Officer at Boyd Interactive, added âThe whole Resorts Digital Gaming team is excited to bring Playân GO games to our players. Playân GO is one of the worldâs leading iGaming brands, and weâre confident that our players are as excited as we are to see those Playân GO titles on both www.resortscasino.com and www.mohegansuncasino.com.â
Interviews
Exclusive Q&A w/ Radek PĹĄurnĂ˝, CEO at Match Hype
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Match Hype has just won two industry competitions. Talk us through your product.
Match Hype brings engagement from social media platforms like TikTok and Instagram into the sportsbook. Our technology automatically turns raw sports data into short videos full of sports and betting insights. We have the capacity to create up to a million videos daily in more than 30 languages. We also provide hosting and streaming of the videos, and we track everything in the video thanks to our own player. The high level of video experience and the scale make us unique in the market, and we believe that this innovation is extremely needed in the industryâand the judges in the competitions probably agree with us.
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What technologies are you leveraging to deliver such a cutting-edge tool/product?
We have more than six yearsâ experience in developing dynamic video solutions for clients like Microsoft, HBO, and SAP, and a decade in high-end video production for similarly well-known clients. Match Hype is the essence of this. We have developed our own robust cloud infrastructure that enables us to work on a huge scale. We can also leverage the integration of third-party solutions that help us make the video content rich and engaging. The AI boom came at the right time to help us make the experience for the viewer even better.
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Who is Match Hype aimed at?
We focus mostly on sportsbook operators, where we think we can bring the biggest value. But we also have clients on the affiliate and media side. Our âcompetitionâ at the moment are creative professionals who are able to create one video at a time. To cover hundreds or thousands of events daily, you need huge manpower. With Match Hype, you donât need thatâitâs all automated. Anybody who appreciates this level of efficiency will benefit.
The end users are any sports fans who enjoy engaging videos. So basically everybody.
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Has this industry been slow to embrace video content and unlock the potential it offers? If so, why?
Itâs hard for us to talk about the whole industry, as we havenât been part of it for that long. But iGaming feels like a conservative industry where only truly meaningful innovations make it. Fingers crossed for Match Hype being one of them. We are confident because of our track record in other industries, and mostly thanks to the results of our dynamic videos that are already used by significant igaming industry players.
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What makes video content so effective at customer acquisition? How can Match Hype be used in this regard?
People just love video content. In the last review, TikTok said that the average user spends around 90 minutes a day on their platform. Platforms like Spotify used to be music and podcasts only; now they are full of videos. You just canât ignore that. Video killed the radio star, and a static sportsbook is next to die.
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And what about retention? How can it be used to keep players engaged and coming back for more?
Imagine that a 30-second video gives you the exact insights to help you make a betting decision without spending dozens of minutes on different resources to gather all the information. People donât want to read anymore. This is probably an even bigger strength of Match Hype than user acquisition.
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What can we expect from Match Hype in the coming months?
We will establish Match Hype as an industry standard for dynamic video content. Weâll bring many more sports like tennis, basketball horse racing and. We are preparing real-time video use casesâfor example, half-time updates in footballâand new distribution channels like integration directly into streams. The potential is huge. Stay tuned.
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Any final thoughts?
For the last year, we have talked with literally hundreds of iGaming experts, investors, and executives. Almost every one of them sees fan engagement as a huge topic in the upcoming months and years. And video will definitely play a key part in it.
Video says more than a thousand words. Give it a goâwatch one of our 30-second videos and see for yourself.
The post Exclusive Q&A w/ Radek PĹĄurnĂ˝, CEO at Match Hype appeared first on European Gaming Industry News.
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