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Azerion Q1 2023 results and progress with the consolidation and integration of previous acquisitions

Azerion announced its Q1 2023 results. Additionally, Azerion has announced its significant progress with the consolidation and integration of previous acquisitions.
Q1 2023 highlights
- Resilient growth in the Platform and Premium Games segments, with Net revenue of almost € 113 million, up from € 94 million in Q1 2022. Adjusted EBITDA of almost € 9 million up by 48% compared to Q1 2022, reflecting improved margins due to accelerated integration of previous acquisitions, as well as cost optimisation.
- Upgraded expected annualised cost savings to at least € 15 million from at least € 10 million, excluding any effects from foreign exchange. The expected savings are compared to the January 2023 baseline.
- Launch of Performance by Azerion, enriching campaigns across all features and platforms, driving increased performance across the full advertisement funnel.
- Roll out of proprietary ad format Oneskin, an integrated rich media native product that creates a highly scalable feature on the Azerion Platform.
- Expanded brand licensing partnerships with SmileyWorld, Mattel and L.O.L. Surprise! O.M.G. Fashion House™ to create engaging in game branded advertising content in metaverse social games Habbo, Hotel Hideaway and Woozworld.
- Successfully completed the legal merger between Azerion Holding B.V. and Azerion Group N.V. to simplify financial reporting.
CEO Umut Akpinar said: “I am pleased with our continued growth in underlying profitability in Q1 2023. We made significant progress integrating previous acquisitions and further optimising our operations, whilst releasing new products and services to our current and new advertising and publisher partners. We are working hard to make our platform more efficient, better serving our clients, increasing our resilience and positioning us to capture exciting market opportunities. We expect to continue improving our underlying profitability in Q2 2023, which provides us confidence in achieving our strategic and financial objectives for 2023 and beyond.”
Azerion makes significant progress with the consolidation and integration of previous acquisitions
Today, Azerion has shared further details on the progress made in consolidating and integrating previously acquired businesses, which led to the launch of new products, market expansions, technological improvements and expected cost savings.
Azerion’s initiatives to integrate and consolidate the different technologies, teams, brands, offices, and back-office activities have progressed well in Q1 2023 and are expected to result in annualized savings of at least EUR 15 million compared to January 2023 baseline. This is a significant improvement to the previously communicated expectation of at least EUR 10 million annualized savings.
After its listing on Euronext Amsterdam in early 2022, Azerion completed several acquisitions, most of them during the second half of last year. Since the beginning of 2023, Azerion has set out as one of its priorities to accelerate the integration of past acquisitions and make Azerion’s platform more efficient and fit to scale up later in 2023. Below some examples of successful integration initiatives:
Ad sales
Over the last few years Azerion has built direct sales capabilities and expertise across various markets, working closely with advertisers and media agencies to maximise their results.
- Infinia (audience targeting technology with local direct sales presence in the Iberia and LATAM regions – acquired in March 2022) was rebranded into Azerion and completed the integration of teams, offices and back-office. Furthermore, Infinia’s technical capabilities to create and target audiences to better reach exact audiences has been integrated and shared with other regions and Azerion offices.
- Hybrid Theory (audience targeting technology with local direct sales presence in the UK, US and APAC regions – acquired in November 2022) has rebranded into Azerion and also merged all its teams into the Azerion teams for the relevant markets. As with Infinia, their technology and knowledge are now used group wide to offer our clients expertise and execution in brand performance marketing.
- Mmedia (local direct sales presence in the Netherlands – acquired in October 2022) has been further integrated in the Dutch operation, merging sales, publisher and monetization expertise into the Dutch operation.
Overall, the sales teams in the UK, Germany, France, Nordics, US, Italy and Benelux regions have further integrated offerings and products and are increasingly selling easy-to-use, brand-safe and competitively priced solutions to advertisers and media agencies, so that they can reach affordable audiences at scale everywhere and receive better outcomes.
Adtech
Azerion continuously invests in launching creative ad formats and optimising its advertising technology. The focus has been on innovating with unique proprietary ad formats as well as using technology to reduce complexity for advertisers and publishers.
- TargetSpot (audio ad format technology – acquired in November 2022) has enabled its audio supply technology into Azerion’s wider SSP platform. Product development has been centralized in Amsterdam, while teams in the US and Belgium have been integrated into the relevant Azerion teams. Offices and back-office activities have been merged and centralized.
- Vlyby (video ad format technology – acquired in October 2022) has integrated into Azerion’s German operations. It also further integrated with previously acquired company Zoomin (video development) to offer smart content propositions to advertisers and publishers. This new video product is currently under expansion.
- Madvertise (mobile advertising technology – acquired in July 2022) has been integrated into Azerion’s French and German operations, including teams and back-office.
Curated content
One of the key elements of Azerion value proposition is to offer unique reach to advertisers. In order to bring audiences together at scale, Azerion develops its own digital content and partners with thousands of digital publishers. Over the last few years Azerion has built publisher monetization capabilities and expertise, working closely with publishers to maximise their results.
- AdPlay (publisher monetization services – acquired in November 2022) has integrated into Azerion’s operations in Italy and has been chosen as Azerion’s publisher monetization services offerings for the Italian market.
- Takerate (publisher monetization services – acquired in October 2022) has merged into Adplay, generating the efficiencies relating to sales teams, operations, analytics, development and back- office.
Overall, Azerion is further consolidating its publisher monetization services into a single stack. The first step was to consolidate the offerings per region (Italy: Adplay; France: Adverline; US and Nordics: Pubgalaxy; DACH, Benelux and UK: Mmedia; Nordics: Keymobile). Full global integration is expected to be initiated later in 2023.
Next steps
The integration efforts are expected to continue through Q2 and Q3 2023 to make Azerion’s platform more efficient and ready to further scale up. These efforts will include the roll-out of the acquired products and services across all Azerion regions to ensure one single set of offering to advertisers and publishers, as well as rebranding of products and entities and legal mergers and acquired subsidiaries. More updates will be provided over the course of 2023.
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Rafael Gállego, BetBrothers: “SEO Is Still One of the Most Powerful and Scalable Channels”

Few industries evolve as rapidly as iGaming. Navigating its landscape requires more than just technical know-how, as it demands adaptability, local insight, and a user-first mindset.
We sat down with Rafael Gállego, SEO Manager at BetBrothers, to explore what makes organic traffic a lasting growth engine in such a competitive space. Rafael’s journey began in 2017 at Game Lounge, where he started as a content writer before transitioning into SEO. In early 2025, he joined BetBrothers, where he now plays a key role in shaping organic growth strategies for Spanish-speaking markets.
BetBrothers has a notable presence with its Spanish websites. From an SEO perspective, what are the differences when optimizing for the Spanish market compared to other regions?
When optimizing for Spanish-speaking markets, one of the first things we consider is that Spanish is not the same language everywhere. There are major differences between Spain, Mexico, Peru, and the rest of LATAM. Not just in vocabulary, but in search behavior and user expectations too.
From an SEO point of view, this means our approach has to go beyond simple translation. We work with localized keyword research for each country, because the same query can have different volumes, intent, or competition depending on the region. For example, users in Spain might search for “apuestas online”, while in Mexico they’re more likely to use “apuestas en línea”.
Another key factor is building trust. In LATAM, elements like local payment options, bonuses in local currency, or even having a .mx or .pe extension can strongly influence user behavior. And indirectly, organic performance.
In short, SEO for Spanish markets requires a highly localized strategy that respects linguistic nuances, adapts to different user intents, and aligns with each market needs.
There’s some talk about SEO becoming less effective as a marketing channel. What are you actually seeing? Is it still a key growth tool for affiliates, or are things changing?
From our perspective at BetBrothers, SEO is still a core growth channel for affiliates. Especially in the betting and casino verticals. What’s changing is that it’s getting more competitive and more resource-demanding. It’s not that SEO is becoming less effective, but rather that the barrier to entry is higher than it used to be.
Google continues to evolve, and organic visibility is increasingly tied to E-E-A-T, technical health, UX, and content quality. That means affiliates can’t rely on quick wins or shortcuts anymore. You need a solid product, strong topical authority, and consistent effort to maintain and grow rankings.
That said, the intent behind SEO traffic remains unmatched. Users landing on affiliate pages through organic search are actively looking for information, comparisons, or to convert. That makes SEO one of the most valuable acquisition channels in terms of ROI.
So yes, things are changing, but SEO is far from dead. For affiliates who take it seriously, it’s still one of the most powerful and scalable channels.
With the rise of AI-generated content, and Google’s strong emphasis on E-E-A-T, how do you see its role? Do you think AI content can be effectively used by iGaming affiliates, or is a human touch indispensable for maintaining trust and rankings?
AI-generated content definitely has a role, especially when it comes to scaling certain types of content (like data-driven pages, FAQs, or supporting articles). At BetBrothers, AI helps us speed up processes and improve efficiency, but it’s not a substitute for human expertise.
In iGaming, trust and authority are key. And that’s where E-E-A-T comes in. Users (and Google) expect content to show experience, transparency, and relevance. That’s hard to fake. For example, when we write reviews, guides, or betting strategies, we make sure they’re backed by real insights, updated market knowledge, and a clear editorial voice. That requires a human touch.
We’ve experimented with AI to support content creation, but every piece still goes through human review and editing. In this industry, credibility matters. So while AI is useful, it needs to be part of a broader content strategy focused on quality, accuracy, and user value.
When a significant Google algorithm update rolls out – say, a core update that shakes up rankings – can you walk us through BetBrothers typical process for analyzing the impact, identifying necessary adjustments, and implementing changes for your affiliate sites?
When Google rolls out a major algorithm update, we follow a clear, structured process to assess and respond.
First, we monitor key metrics across our portfolio (traffic, rankings, user engagement, etc) to quickly spot any significant changes. We rely on tools like Google Analytics, Search Console, and Ahrefs to identify which sites and pages are most impacted.
Then, we analyze the winners and losers within our niche to understand what Google is prioritizing. We look closely at factors like content quality, user experience, and technical SEO to identify patterns.
For action, we focus on high-impact pages based on their traffic and revenue potential. Our main efforts target improving content depth, enhancing user experience, and strengthening E-E-A-T signals. Instead of broad, sweeping changes, we implement precise, data-driven adjustments and closely monitor their impact.
Throughout, we stay grounded in our core philosophy: delivering genuine value to users.
What technological or market shifts do you think could radically impact SEO in iGaming in the next five years?
We’re already seeing major shifts that are transforming SEO in iGaming, and that pace is only accelerating. One of the biggest changes is Google’s integration of AI into search through SGE (Search Generative Experience). As Google answers more queries directly — especially informational ones — traditional results are seeing lower visibility and CTR. For affiliates, this makes it even more important to focus on transactional keywords and build strong, recognizable brands that users trust.
Another ongoing shift is regulation. Markets like Spain, Mexico, and Colombia are constantly evolving. Changes — like a rumoured potential ban on welcome bonuses in Spain — can happen fast. When they do, SEO strategies need to adapt quickly.
And looking a bit into the crystal ball, we also notice the possibility of search engines applying stricter filters to gambling content based on compliance trends. That could radically change how we approach SEO.
Lastly, the growing role of first-party data and UX signals is changing how we measure and optimize performance. At BetBrothers, we’re investing in collecting direct user feedback to better tailor our content. As Google rewards trust, engagement, and relevance, SEO in iGaming is becoming less about technical tweaks and more about product quality, user insight, and long-term credibility.
The post Rafael Gállego, BetBrothers: “SEO Is Still One of the Most Powerful and Scalable Channels” appeared first on European Gaming Industry News.
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BonusFinder UK Survey: Public Trust in Online Gambling & Bonus Offers in 2025

As conversations around gambling regulation and responsible gaming gain momentum in the UK, new research from BonusFinder reveals a complex public sentiment toward the online gambling landscape.
The nationwide survey, which was conducted in May 2025 and included 1,000 respondents, reveals that while the majority of Brits engage with online gambling platforms occasionally, concerns around transparency, trust and bonus terms remain prominent.
Usage patterns
Respondents were asked a series of questions on how they use online gambling platforms, the types of gambling they participate in the most, and if they claim the bonuses offered to them.
Overall, the usage of the platforms across the UK might not be as high as some expect, with 65% claiming they ‘rarely’ use gambling sites and 19% saying they only use the platforms ‘occasionally’.
UK attitudes towards online gambling & bonuses in 2025 have become more lenient in comparison to previous years. The study found that younger Brits, those in the 18-24 bracket, were the least likely to use gambling platforms at 5%, whilst being the most likely to only use the sites ‘rarely’.
Of those asked, within that age bracket, 76% claimed they use gambling sites less than once a month. Meanwhile, 34-55 year olds are most likely to use sites multiple times a week, with 9% claiming so.
Self-employed Brits are the most likely to be using gambling platforms multiple times a week at 12%, this was followed by those who are unemployed at 11%.
Unsurprisingly, sports betting is the most common form of online gambling in the UK with 42% of respondents claiming that this is the type of gambling they participate in most often.
It was also the most popular form of betting across most of the age ranges, except for the two oldest brackets (55-64, 64+) whose most popular choice was ‘other’, which can include the likes of lottery and horse racing.
Bonus awareness & understanding
Around three in five (59%) Brits have claimed a welcome bonus or promotional offer from online gambling sites. However, even more respondents (63%) say that they rarely use casino betting bonuses outside of these welcome bonuses.
Only 3% of the respondents said they use bonuses almost every time they gamble, whilst 26% use them ‘occasionally’. Those who do use bonuses said they most frequently find them directly on the gambling site, with 64% saying so.
This was followed by finding them through social media or website ads (26%) and bonus comparison sites (13%).
Understanding of online casino terms (such as ‘wagering requirements’, ‘cashable vs.
non-cashable’) is quite clear amongst Brits, with 17% saying their understanding is ‘very clear’ whilst 42% say their understanding is ‘somewhat clear’.
Only 16% claimed they don’t understand the terminology at all. Additionally, 56% of Brits claim that they’ve been surprised by the conditions attached to some bonuses.
Confidence in regulation & industry fairness
Not just in the UK, but globally, the casino and gambling industry is often viewed with controversy, prompting a regulatory focus. However, there is no shortage of systems in place in the UK to ensure that these platforms are properly regulated.
On the other hand, despite this, the results show that Brits (understandably) still have their doubts about the systems in place. Overall, only 9% are ‘very confident’ that gambling sites are properly regulated, whilst 43% said they weren’t confident at all.
Older Brits (45-55 year olds) had the most confidence in sites being properly regulated, with 55% saying they’re confident; however, 65% of the eldest bracket (65+) said they had no confidence at all.
Many Brits also have doubts that the UK Gambling Commission are doing enough to protect customers. Only 19% said they thought that they do enough, 28% weren’t sure and 53% say they don’t protect customers at all.
However, the most surprising statistic in this section of the survey is that over two-thirds of the respondents (67%) said they don’t know how to check if a gambling site is licensed in the UK.
Unfortunately, Brits also have doubts when it comes to bonus comparison and affiliate sites sharing fair and unbiased information. In the survey, 54% of Brits claimed they felt like they couldn’t trust them, whilst 31% say they weren’t sure if they could or not.
The primary concerns around gambling and casino sites amongst Brits were;
- Addiction and gambling harm (32%)
- Misleading bonus terms (21%)
- Underage access (17%)
- Data privacy (14%)
- Unlicensed operators (13%)
UK perceptions & marketing
Almost half (45%) of Brits have a negative perception of online gambling sites, and 46% say that their view is ‘neutral’.
Despite earlier questions showing that the younger generation was the least likely to be using the sites on a regular basis, they were the most likely to have a positive view of the sites. Of the 25-34 year olds, 10% said they had a positive perception, this was also the same for the 35-44 age group.
Despite 42% of Brits saying that they feel that bonuses are advertised fairly only
‘sometimes’, 31% believe they aren’t all. Meanwhile 71% said they believe that bonus
promotions should be more strictly regulated.
When asked what would be their biggest confidence booster in regards to their use of online gambling and casino sites, the respondents said:
- Clearer terms and conditions (22%)
- Stronger licensing (15%)
- UK-based customer support (15%)
- Verified customer reviews (13%)
- Faster payouts (12%)
- Emphasis on responsible gambling tools (12%)
- Publicly verified RTP (return to player percentages) (11%)
The post BonusFinder UK Survey: Public Trust in Online Gambling & Bonus Offers in 2025 appeared first on European Gaming Industry News.
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How Affiliates Can Secure Better Deals

In the fast-paced world of iGaming affiliate marketing, driving traffic is only part of the equation. The real differentiator that separates high-earners from the rest, is their ability to negotiate smart, well-balanced deals. Operators are always looking for high-quality traffic, but the best affiliates know how to use their strengths to land agreements that go far beyond the usual commission structures.
To break down what makes a successful negotiation, we spoke with Arturs Korolkovs, Head of Sales at Media 24, a top-tier affiliate company. With years of experience building and managing affiliate-operator relationships, Arturs shared some key insights that can help affiliates level up their deal-making.
Do Your Homework
One of the biggest mistakes affiliates make? Not doing enough research before starting talks. According to Arturs, knowing the operator’s product inside and out can give you a real advantage in negotiations.
“Does the operator cover the leagues and sports your audience bets on?” he asks. “Are the right payment methods available? Is support offered in your players language? These things aren’t just nice extras. They directly affect how well the brand will perform with your audience.”
When you know as many details about the operator as possible, you can fine-tune your pitch and show why your traffic is a perfect fit for their product. Then, if you can prove that your players deposit more, stay active longer, or have better retention than average, you’re in a strong position to negotiate better terms. Knowing the operator well lets you negotiate smarter.
Let the Numbers Speak for You
If you’re aiming to negotiate better deals, don’t just show up with a request. Show up with results.
“Too many affiliates just ask for a better deal without showing any numbers,” says Arturs. “But data is your best argument. The more you know about your traffic, the stronger your position at the table.”
Bring everything you know about your audience. Where is your traffic coming from (geo)? How do their deposit sizes and retention rates compare to the average? Are they bonus hunters or loyal bettors?
These insights don’t just help you understand your business. They help the operator tailor offers, optimize funnels, and understand where their product fits best.
“When you walk into a deal showing that you understand your traffic, how it behaves, and what kind of value it brings, that’s when operators really listen,” Arturs adds.
The more data you bring, the more confident and credible you’ll sound. And the easier it becomes to negotiate terms that reflect the real value of your traffic.
Build Real Relationships
Affiliate deals work best when there’s trust and transparency on both sides. It’s easy to chase short-term gains, but Arturs warns that overly aggressive deals often backfire.
“We’ve seen deals fall apart after one good month because they were too one-sided,” he says. “The most successful affiliates build strong, long-term partnerships. Traffic always goes up and down, but if you’ve been fair and open with your partners, they’re much more likely to stick with you through slower periods too.”
Just as important as transparency is understanding what the operator actually needs. It’s easy to go into a deal focused only on your own numbers — your traffic, your conversions, your commission. But if you want to build something that lasts, you have to think about what’s happening on their side too.
“If you sell just to close a deal, you might get a quick win,” he warns. “But if you sell based on what the operator truly needs, you’ll be the first one they call for new markets or budgets.”
Ask yourself: what’s the operator trying to achieve? Are they focused on acquiring new users in a specific market? Are they trying to promote a new feature? When you understand their goals, you can align your strategy to support them. And that’s when real partnerships happen.
In short: be a reliable partner, not just a traffic source.
Make Deals that Make Sense
When it comes to commission models, it’s easy to fall into the trap of thinking you have to pick a side: CPA for quick wins, or RevShare for long-term gains. But the truth is, a hybrid deal often gives you the best of both worlds.
“At Media 24, we find hybrid deals to be a smart middle ground,” Arturs explains. “You get a CPA, which helps with immediate cash flow, plus a RevShare that pays off over time as your players stay active.”
This model works well for both affiliates and operators. Affiliates get paid early while still benefiting from players with high lifetime value. And operators are reassured that affiliates are motivated to send quality traffic. It’s a win-win.
It also makes conversations with partners easier. Instead of arguing over which model is better, you’re aligning incentives on both sides. You’re saying: We believe in our traffic enough to take a long-term view, but we also want to keep the lights on today.
Final Thoughts
Great traffic is the starting point. But knowing how to negotiate — based on data, timing, and mutual value — is what unlocks the full potential of your affiliate business.
As Arturs Korolkovs sums it up: “Operators don’t want more links. They want partners who understand the market, who know the funnel, who can tweak their products to improve conversion. The more value you add, the less replaceable you become.”
And in this industry, the right deal can make all the difference.
The post How Affiliates Can Secure Better Deals appeared first on European Gaming Industry News.
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