Mar 24: Playtech extols Hispanic opportunity
Good morning. In today’s edition:
Fare thee well, Miss Carousel. Click below: Playtech FY
StandWithUkraine: With 700 people in the country, Mor Weizer began the earnings call by pointing to the efforts being made by the company and its employees to support its Ukrainian workforce, including relocation efforts either to safer areas of the country or elsewhere. He noted there is no critical B2B infrastructure within the country.
Latin rhythm: The increase in B2B revenues was driven by 64% growth to €101.3m in the Americas segment which includes the strategic partnerships with Caliente in Mexico and W Play in Columbia. Late last year it signed a strategic deal with Galerabet in Brazil.
Northern skies: In terms of the US, Playtech recently launched with Parx Casino in Pennsylvania, New Jersey and Michigan and has opened two new live casino facilities in the latter two states. The company also signed an agreement earlier this year with NorthStar Gaming for Canada.
Calexico: On the potential for the Caliente/CaliPlay move into the Spanish-speaking market in the US, Weizer noted the Hispanic population in the US was over 60m. “ The GDP of Hispanic speakers in the US is bigger than Mexico,” he added. Italian renaissance: Noting the differing fortunes of the online versus the land-based businesses in Italy, Weizer said it was “becoming a truly online-led business.”
Elephant in the room: CEO Mor Weizer spoke about an “eventful year” for Playtech which includes, of course, his joining with former CEO Tom Hall and the Hong Kong-based investor TTB in a potential bid for the company to take it private. ** SPONSOR’S MESSAGE: Spotlight Sports Group, a world-leading technology, content and media company has released a new white paper detailing the sports betting opportunity for publishers across North America. The paper investigates the size of the market, the revenue models available and the changing behaviors of sports fans. Outlining the keys to success, the research also discusses Racing Post's successful journey from a traditional digital publisher to super affiliate. Click here to download the full white paper. Zeal Q4 and FY21
Freedom pass: The group said the launch of its ‘freiheit+’ charity lottery has been very successful and full ownership of the product meant “it comes with higher margins than a normal brokerage business where we would get commissions from state lotteries,” CFO Jona Mattson said.
Material appetite: The team at Peel Hunt said the low jackpots meant low revenues, but adj. EBITDA more than doubled and with guidance implying a “forward EBITDA multiple of 32x”, it showed “material investor appetite for exposure to the German market”. Earnings in briefOPAP FY21: GGR up 36.2% to €1.53bn, NGR up 41.6% to €1.04bn, EBITDA up 111.1% to €550.3m driven by post-COVID recovery and the reopening of the group’ retail operations. Leading Greek online betting and gaming brand Stoiximan was fully integrated at the end of 2020 and generated around €430m in additional GGR. Better Collective M&A
Forecast improvement: Better Collective said the acquisition in Canada would give the company a “strong foothold’ in the market ahead of the opening of Ontario on April 4. Allied to a “generally strong performance” in the first quarter, the extra revenues from Canada mean Better Collective has upped its EBITDA forecast for 2022 by €5m to €80m. Further Canada news: Provincially-licensed online gambling brands can now advertise on Google in Canada, per a change in Google policy. Canadian Gaming Association President and CEO Paul Burns highlighted the updated Google rules on LinkedIn. CBRE sports-betting updateCut too deep: Looking at the recent performance of leading sports-betting-related stocks, the analysts at CBRE suggest that despite suffering from the wider risk-off market stresses, the sell-off has gone too far. Decoupling: They note that investors need to separate global fears over inflation and rising interest rates from the still present growth story for the “entirely new sector” of sports-betting and gaming.
Boyd analyst updateBoy oh Boyd: After meeting with management, the analysts at Truist report the company is yet to see any impact of rising inflation and gas prices, though the longer the trends continue, the “more likely some negative impact will be seen”. While 2022 trends “look strong”, the Mar-May comparison will be tough. What we’re writingOn Wagers.com: FOX’s limited sports-betting choices.
NewslinesWrist slap: The New Jersey DGE has fined BetMGM $25,000 for accepting two bets involving in-state college teams and events in 2021. The bets came in on a game involving New Jersey-based Rutgers University, and a Metro Atlantic Athletic Conference college basketball tournament game. Now you see me: The Action Network reports that a well-known offshore online sportsbook went offline as of Monday, and isn't responding to customer queries. Mobile squared: Esports and traditional sports-betting operator Rivalry has announced a range of mobile betting options on mobile games including Mobile Legends: Bang Bang, League of Legends Wild Rift, Call of Duty Mobile. Just do it: Playtika has acquired JustPlay.LOL, which produces the multiplayer game 1v1.LOL. The acquisition diversifies Paytika’s product range by expanding its offering into the “action and battle royale genres”, according to the group’s statement. Certified: Aspire Global’s player account management (PAM) and managed services platform has been certified by GLI for the US and Canada markets. Inspection services: Sportradar will provide its monitoring and sporting integrity services to Sweden’s gambling regulator Spellinspektionen. What we’re readingFrom casino floor to bully pulpit: ESPN on Craig Carton and his role in preaching responsible gambling. On socialGimp. Calendar
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Mar 23: GAN waits on fragmentation
Wednesday, March 23, 2022
GAN Q4, Deutsche Bank promo spend note, Playmaker Q4, regulatory roundup +More
Mar 21: Chanos and Robins renew fight
Monday, March 21, 2022
DraftKings short selling fight, Bally and IGT analysts notes, UK horseracing intervention, startup focus - Tallysight +More
Mar 18: Weekend Edition no.38
Friday, March 18, 2022
FOX Corp. earnings call, Endeavor earnings call, Allwyn lottery win, New Jersey, Michigan and Pennsylvania Feb22, Sector Watch - Gaming +More
Mar 14: PointsBet predicts more marketing frenzies
Monday, March 14, 2022
SXSW review, New York data, Inspired earnings call, Jefferies brand matrix, Startup Focus - Prophet Exchange +More
Mar11: Weekend Edition no.37
Friday, March 11, 2022
Genius Sports Q4, NeoGames Q4, Accel Q4, DraftKings analyst meeting Full House earnings call +More
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