Earnings+More - Playtech’s hard rockin’ ’n’ rollin’
Playtech’s hard rockin’ ’n’ rollin’Playtech talks up Hard Rock, Gambling.com is a doubler, BC talks up digital sports future, Michigan data +MoreGood afternoon. On today’s agenda:
Put your money on a number anyone can play. Playtech hard at itPlaytech gave over the stage to Hard Rock Digital as it extolled the benefits of its new strategic agreement. Rock solid: Playtech said the new agreement announced earlier this month would accelerate its own US strategy as well as provide growth globally. In the subsequent investor meeting, the company gave over the stage to HRD’s executive chair Rafi Askenazi, who praised Playtech as “far and away” the best partner.
Super group: For FY22, Playtech saw revenues rise 33% to €1.6bn while adj. EBITDA was up 28% to €406m. Within that, regulated markets B2B revenues were up 14% to €632m, with Europe ex-UK up 31% and Americas income up 27%, driven in part by Caliente.
Snai and dry: B2C revenues rose 48% to €983m, with the Snaitech business seeing its online arm achieve revenue growth of 2% despite the reopening of retail during last year. H2 revenue growth hit 10%. Target practice: The company said its new “medium-term” adj. EBITDA target for Snaitech was between €300m and €350m, while in B2B Playtech is aiming for adj. EBITDA of €200m-€250m. ** SPONSOR’S MESSAGE ** Tried, tested and proven over a decade in the highly-regulated US market, and continuing to expand across Europe, Latin America, Asia and Africa. GeoComply harnesses the power of its market-leading geolocation technology to protect against fraud, including fake account creations, bonus abuse, account takeovers, stolen identities, money laundering, and more. Visit geocomply.com. Gambling.com doubles upNorth America is set to represent the majority of income in 2023 as revenues double in Q4. Finders keepers: Revenue from North America almost quadrupled to $10m, helped by the launch in Maryland and the success of the company’s BonusFinder acquisition in Canada. Since the start of the year, affiliate operations have been launched in Ohio and Massachusets.
Full strength: Gillespie said the acquisition of Casino.com is the “capstan” for Gambling.com’s premium domain strategy. “In our view, the long-term strategic value of this domain could surpass Gambling.com,” he added. What we’re writingSharpr: New Jersey Division of Gaming Enforcement Deputy Attorney General Anthony Strangia told a recent conference that about half of the state’s licensed sportsbooks accept esports wagers. Compliance+More: The UK Gambling Commission this morning announced a £7.1m fine for Kindred, plus Georgia’s last gasp sports-betting effort. BC evolutionBetter Collective said it has evolved from an affiliate into a digital sports media brand. Beyond traffic: At the group’s maiden investor day, CEO Jesper Søgaard said Better Collective had evolved from focusing on driving traffic to online sportsbooks to diversifying revenue streams, such as media, advertising and subscription services. Phase evolution: Post-2016 the business has been in an “M&A phase”, said COO Christian Rasmussen. Recall, in the past few years BC has acquired paid media specialist Atemi, eSports publisher Futbin and major US sports-betting affiliate Action Network.
Earnings in briefPlaymaker Capital: CEO Jordan Gnat said the World Cup was a major factor in generating a 27% increase in user sessions in Q4 as the group announced an organic increase of 102% in Q4 revenues to $19m, with pro forma adj. EBITDA rising 96% to $6.8m.
DatalinesMichigan: BetMGM appears to be slightly losing its grip on the iCasino market in Michigan, going by the figures for February. While it maintains its leadership at 33%, this represents a 150 bps slippage on January and 400 bps drop on its 2022 average.
🎲 iCasino market shares in Michigan in February
Macau: Mainland China and Hong Kong provided the bulk of visitors to Macau at 57k per day in February, the highest since January 2020. Jefferies said it reflected “strong pent-up demand” and was “only 11% lower than Chinese New Year”. ** SPONSOR’S MESSAGE ** Founded in 2013, Metric Gaming is based in Las Vegas and London and developed the industry’s first truly multi-tenant sportsbook platform, purpose-built to support operators across multiple territories, regions or States. Metric is proud to be partnered with both Racebook HQ and Lacerta Sports (powered by Starlizard) and will roll out innovative MTS solutions for both racing and sports in 2023, including soccer and four main US sports. To find out more, please visit www.metricgaming.com NewslinesRivalry will debut its casino.exe product in its home market with a total of eight games, including several that are exclusive to the region. Betfred has announced a new agreement with SIS for access to live racing events from all over the world. CalendarMar 28: 888 investor day Mar 30: XLMedia, FansUnite An +More Media publication. For sponsorship inquiries email scott@andmore.media. Earnings+More is free today. But if you enjoyed this post, you can tell Earnings+More that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
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