Most Influential Women 2018

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Revealing the first three women featured in iGB’s inaugural most influential women list Most Influential Women 2018 This year’s gender pay gap reporting revealed that women remain under-represented at the top of business, and consequently so does their influence. The inaugural iGaming Business Most Influential Women list aims to redress the balance.Research shows that the more diverse and inclusive businesses are, the better they perform. According to McKinsey, companies with gender equality at a senior level perform better and for every 10% increase in gender diversity on senior executive teams, EBIT increases by 3.5%.For now, though, quantitative measures of how the industry is doing in terms of diversity and inclusion are limited. What we do know is that, while men still greatly outnumber women in the higher reaches of the industry, there are some extremely accomplished women at senior level.It seemed like the right time to make some noise about those women and to highlight their achievements as a reminder, to those coming through and anyone considering a career in igaming, that there are, as one of the women on our list put it, high rewards “for those who dare”.A few of the names in this feature will not come as a surprise; after all, igaming boasts not just the highest-paid female business leader, but the highest paid, period. Her presence, in part two of this feature next week, reflects the fact that igaming is perhaps one of the few industries where the glass ceiling has been well and truly smashed, and there is a real opportunity for other women, other people from all backgrounds, to take advantage of that.However, there are also some surprises in here. Some names you may not have heard of. It was important for us to make the process of identifying our first 10 most influential women as fair as possible, so we opened the nominations process up to the industry.In this first installment we reveal three of the women that make up the full list of ten. The remaining seven will be unveiled in two further installments online early next week and the feature is also out now in print in the July/August edition of iGaming Business magazine.It is worth mentioning that each of the women on our judging panel received enough nominations to have been considered for the final list had they qualified for inclusion. As this would have posed a conflict of interest, they were withdrawn from the reckoning. We thank them for waiving their likely positions on the list to share their insight and help us reach a fair conclusion on who should be featured. Three rounds of judging later, we had settled on the final 10.It’s important to highlight that while drawing up this list was done as fairly as possible, we accept we were not judging from an exhaustive line-up of the women that make up this industry. We hope this feature showcases not just what women in our industry are achieving today, but how rewarding a career in the gambling industry can be, irrespective of background.Paula Cara Farcas, CTO, Colossus Bets Farcas became chief technology officer at Colossus six months ago, having joined the supplier as a developer in October 2015. Just 25, she has had a stratospheric rise through the ranks since graduating in 2015 with a computer science degree from Babes-Bolyai University in Romania. Little over a year after joining Colossus, Farcas took the helm at Colossus Racing, and as the leader of partner integration grew Colossus’ network from five to more than 40 partners globally. She also led the development of Colossus’ cash-out product for Canadian racetrack Woodbine. Having worked through several obstacles relating to legacy technology on the operator’s side Farcas launched North America’s first ever cash-out product last year. Her latest challenge is steering her 20-strong tech team through the delivery of Colossus Racing’s new pools product. Farcas says the most rewarding part of her job is seeing new products succeed in a highly competitive market. “I’m also equally proud of the numerous, albeit less visible, instances when we’ve worked around legacy technologies to deliver modernised outcomes for our partners,” she adds. “I now have an increased appreciation of how big a challenge it is to make an impact in this industry, and innovation coupled with adaptability is key.” Over the next few months Farcas will be focused on delivering the pools product to Colossus’s global partners, travelling widely to meet new racing partners and cementing relationships with existing clients. She advises other women aspiring to success in igaming to “look beyond the gender imbalance and just take the challenge”. Farcas points to the “conscious drive” by business to bring in more female leaders in the industry, adding “the rewards can be high for those who dare”.Karolina Pelc, Casino Director, LeoVegas Pelc has been heading up LeoVegas’ casino product and operations department for more than three years, having previously helmed the casino offering at Betsafe. Her career in the gambling industry started in land-based casinos as soon as she finished school and has gone on to span 15 years, the last five of which have been in a succession of senior roles. Last year she gained a raft of industry recognition for her work in launching LeoVegas’ live casino product, in particular for the implantation of the site’s dynamic API. Her work contributed to LeoVegas picking up awards for Best Live Casino and Best Mobile Product this year. Pelc also delivered multi-fold GGR growth to the relaunched LeoVegas Live product vertical and, in conjunction with partners at Evolution, expanded it from a three-table offering to more than 12 tables in a multi-language dedicated environment. Pelc is vocal about improving diversity in the industry and told iGB earlier this year that she frequently receives messages from women struggling to get a foot in the door. Having just returned to work after the birth of her son last year, she says her biggest challenge at present is finding the balance between career and family life. “I have some work to be done on mastering the implementation as I tend to work around the clock and feel I need to change that,” she adds. Despite needing to find a balance, Pelc is passionate about casino products and the process of bringing them to market. Her advice to women that want to do the same is: “Be confident and dedicated to your dreams and ambitions. Yes, you might have to learn how to communicate with diverse personalities and cultures to be well understood but don’t get held back from giving an opinion not to ruffle any feathers”.Britt Boeskov, Chief Programme Officer, Kindred Boeskov joined Kindred, then Unibet Group, in 2005 in a position that quickly evolved from management trainee to business development manager. During nearly three years in the role she added three new gambling product verticals, before being promoted to head of acquisition services in 2007, head of the customer service centre the following year and into the executive team as chief operations officer in 2009. Boeskov took the position of chief programme officer in 2016, the year that Unibet became Kindred, leading the new entity’s change management initiative Becoming Kindred. Flying relatively under the radar from an external point of view, she has been responsible for co-ordinating Kindred’s technical and commercial operations, guiding the 1,400-strong group to year-on-year growth across its key financials. Despite spending almost her entire career at Unibet, and latterly Kindred, Boeskov says igaming was “an unexpected career choice”. She was looking for “opportunities to learn, grow, take part, solve problems and develop this business beyond the imaginable” and the industry delivered. The judges remarked on Boeskov’s meteoric rise in an ever-changing business, where managing cultural change over the past two years has been key to its ongoing success. Boeskov describes the industry as “a fantastic place to grow for ambitious women”. Despite some companies still needing to do a better job of fostering more inclusive working environments, she reckons “your vocal support and leadership can push that change”, adding “there are so many progressive companies in our industry that really lead the way”. Boeskov’s advice to women wanting to enter the industry is to leap on the “tough”, “existential” challenges the industry faces in how it relates to customers and society. “Join new projects and ventures that aim at solving these. Don’t wait to become an expert, it’s part of the industry DNA that we’re learning as we go. Your contribution could make all the difference!”The judgesStephen Carter is editorial director across the iGaming Business stable of magazines and websites. He has more than 10 years’ experience working for a variety of igaming sector publications and affiliate websites, including a stint as deputy editor at EGR before going on to join iGB as editor in 2014.Kelly Kehn is co-founder of the All-in Diversity Initiative, which advocates for a data-driven approach to improving inclusion in gaming. Since entering the industry in 2004, Kehn has held leadership roles in marketing, operations, management and sales. She won the Women in Gaming Award for Leader of the Year in 2016.Christina Thakor-Rankin is the other half of All-in Diversity and runs a consultancy business. Her career in the industry spans 25 years and the whole betting and gambling ecosystem, including land-based, online and mobile gaming. She firmly believes that diversity and inclusion are critical to success in business.Helen Walton is founder and marketing director at gaming software company Gamevy. A relative newcomer to igaming, she brings with her a wealth of experience from journalism, marketing and education. She believes the corporate definition of ‘experience’ is limiting and unrelated to the core skills of analysing problems, building solutions and managing people.Andrew Bulloss is a partner at executive search firm Odgers Berndtson and has been placing directors, senior executives, C-level and non-executive directors in the international gaming and gambling industries for a decade. Prior to joining Odgers, he spent eight years leading recruitment in the technology/online, consumer goods and financial services industries in the UK and Europe.Related articles: Most Influential Women IIMost Influential Women III Subscribe to the iGaming newsletter Strategy Tags: Online Gambling OTB and Betting Shops 13th July 2018 | By Hannah Gannage-Stewart Regions: Europe Topics: Strategy Email Addresslast_img read more

BetVictor unveils groundbreaking LED fence ad

first_img Marketing at racetracks will be revolutionised this weekend as BetVictor becomes the first company to deploy an LED steeplechase fence advertisement.The digital board will be used at Stratford-upon-Avon racecourse on Saturday, with BetVictor having teamed up with agency Priority Sports Marketing. An animated graphic of the BetVictor logo will appear on the final fence on the home straight.BetVictor believes the fence advertisement will offer “fantastic exposure and great advertising value”. In a statement it added that “the growth potential for the technology is also promising, with the possibility of brands being able to advertise odds and special offers live on the boards in the near future”.Shane Stafford, BetVictor’s head of brand, said: “We are proud to become the first gaming company in the world to utilise LED advertising on a steeplechase fence. We’re excited to see our brand take centre space on the final fence at Stratford this weekend and interested to see where this advertising platform can take our brand in the near future.”Priority Sports Marketing has been testing the technology for the last eight months, working closely with the British Horseracing Authority (BHA).Illona Barnett, managing director at Stratford Racecourse, said: “Stratford Racecourse is honoured to be the first racecourse in the world to use interactive LED underneath a steeplechase fence this Saturday. We believe this represents a significant step change for racing.”Last month BetVictor introduced a lay-to-lose guarantee on every race in Britain and Ireland after discussions with the Horseracing Bettors Forum. In an industry-first covering online betting, BetVictor customers now have the chance to win up to £500 by selecting a Guaranteed Bet option. Horse racing BetVictor unveils groundbreaking LED fence ad Email Address Bookmaker to debut screen at Stratford racecourse this weekend Topics: Marketing & affiliates Sports betting Horse racing AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 7th September 2018 | By contenteditor Regions: UK & Ireland Subscribe to the iGaming newsletter Tags: Race Track and Racinolast_img read more

Evolution to build on NJ demand with Stars Group deal

first_img Evolution Gaming has linked up with The Stars Group in New Jersey in a move it said will build on a demand for live casino services that has already “exceeded” expectations in the state. Evolution will now power the live casino section of the online gaming platform in New Jersey, with support from its new studio facility in Atlantic City.The Stars Group operates a number of other online gaming brands in the state such as PokerStars and BetStars, working in partnership with tech companies including Play’n GO and Quickspin. James Stern, director of business development and land-based sales at Evolution, said: “We have worked with The Stars Group since 2015, during which time we have worked together in a number of regulated markets in Europe. “The immediate popularity of our live casino tables at our Atlantic City studio has exceeded even our high expectations. I am confident that PokerStars Casino New Jersey’s customers will be drawn to live casino, and enjoy the thrill of playing at our wide range of live roulette, blackjack and baccarat tables.” Evolution last week set out plans to expand its operations in Malta, on the back of a positive set of results for the third quarter. Revenue was up 41% year-on-year to €64.3m (£57.1m/$73.4m) while operating profit climbed 27% to just over €23m. Speaking last week, CEO Martin Carlesund cited the opening of the firm’s New Jersey studio as an operational highlight of the quarter, but warned it does not expect large returns immediately.“The US market remains a long-term project, where New Jersey marks the start of a longer journey,” he said. “The timetable for regulation in additional states is hard to predict; according to reports, Pennsylvania is next during 2019.“Regardless of the timing, Evolution is now very well positioned to grasp the opportunities that will open up.”Image: Marco Verch Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Topics: Casino & games Tech & innovation Regions: US New Jersey Subscribe to the iGaming newsletter Evolution to build on NJ demand with Stars Group deal 29th October 2018 | By contenteditor Tech firm will power live casino services at Email Addresslast_img read more

NHL signs up with MGM

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter NHL signs up with MGM MGM Resorts has added the NHL to its growing portfolio after becoming the ice hockey league’s first official sports betting partner.Under the terms of the deal – announced at a press conference in New York City – MGM also becomes the NHL’s official resorts partner. MGM Resorts will be able to use official NHL branding across its land-based and digital sports betting offerings within the US. MGM Resorts – already the NBA’s partner – will also have the ability to market many of MGM Resorts’ products and services to the league’s fans via its media platforms and events. While no financial details were released, NHL commissioner Gary Bettman said the deal was worth a fixed amount and would not be impacted by MGM’s takings on hockey. Betmann confirmed that individual teams will be able to sign their own betting partnerships. William Hill is already linked to both Vegas Golden Knights and New Jersey Devils.However, MGM will have access to “previously unseen enhanced NHL proprietary game data that will be generated by the league’s state-of-the-art tracking systems currently under development”.Speaking to the media, MGM chief executive Jim Murren said the partnership had been worked on for some time.He said: “We were in talks with NHL from the very beginning. [The NHL and NBA deals] are different deals. This is specific for the NHL after good discussions with the league.“We have created something comprehensive, but it isn’t exclusive. We believe in the free market. We intend to be a winner because of our analytics and loyalty programmes, not because someone else is boxed out.”Bettman told the media he does not envisage wide-scale presence for betting shops within NHL venues, as he believes most betting will be via mobile. He also said that the two organisations’ relationship was boosted by the Vegas Golden Knights’ arrival in Nevada’s gambling capital last year.In a statement Bettman added: “The new sports betting landscape presents a unique opportunity for fan engagement utilising technology and data that are exclusive to our league.“As a leading global gaming operator and entertainment company, MGM Resorts is the perfect partner for us to begin our transformative entry into this space.“Fan engagement, technological advancement and innovation are paramount to our progressive approach and will be at the forefront of everything we do.”MGM now has two major sports leagues in its portfolio, after signing with the NBA in August when the basketball league became the first major sports league to sign up a betting partner.The NHL deal was welcomed by the American Gaming Association (AGA), which recently estimated that sports betting could be worth $200m (€175m/£155m) per year for the ice hockey league.“Sports betting agreements through contracts enhance the fan and consumer experience,” said Sara Slane, senior vice president of public affairs for the AGA.“The NHL’s announcement today further strengthens the bond between sports entities and gaming companies, who are each committed to preserving the integrity of the game. As legal sports betting expands, we are encouraged by the growing relationship between gaming companies and the major sports leagues.” 29th October 2018 | By contenteditor MGM adds second major league as NHL follows NBA’s lead by joining with casino giant Regions: UScenter_img Subscribe to the iGaming newsletter Topics: Marketing & affiliates Sports betting Marketing & affiliates Email Addresslast_img read more

Swedish gambling survey reveals falling participation rate

first_imgCasino & games The percentage of Sweden’s population that gambles has fallen by 10% over the past five years, according to the annual market survey conducted on behalf of the country’s gambling regulator Spelinspektionen.The survey, carried out ahead of iGaming regulations coming into force by polling company Novus in October 2018, revealed that 66% of the 1,582 people polled claimed to have gambled at least once in the past year.This was unchanged from the 2017 results, though was down 10% from the 76% participation rate revealed by the 2013 edition of the survey. The majority (55%) of players gambled at least once a month, down from 61% in 2013, though up two percentage points from the 2017 survey.Weekly participation rates fell to 34%, with this group primarily male, and aged between 50 to 64 years old.The survey also revealed that younger Swedish gamblers tended to play as a form of entertainment, with 61% of all respondents saying they wagered for fun. This group was comprised primarily of those aged between 18 and 29 years old (73%), with the possibility of winning – or winning large sums – being a preoccupation of older men.With 32% citing the chance to win as a key motivation behind their gambling, 82% of this group was aged 50 and above. This was comprised of 41% aged between 50 and 64 years old, and 41% aged 65 and above. For 31%, the chance to win large sums was a key motivation, with 41% of all men saying such opportunities were key.Security was also a major concern among players, with 40% saying that playing in a safe and secure environment was the import important element in deciding where to play. This was more important than entertainment to players, with 37% saying a fun experience was most important to them. It could be argued that this is reflected in the fact that six in ten (60%) online gamblers tended to play with Svenska Spel, which until January 1, 2019 was the only legal online offering. The second most popular site was former horse race betting monopoly AB Trav Och Galopp, through which 15% of respondents gambled. While lotteries are the most popular form of gambling overall, sports betting proved to be the most popular online product.Players were also shown to be careful to use safeguards, with almost six in 10 (59%) setting a budget before gambling online, though just 17% set time limits. However there was little uptake in self-exclusion controls, with 3% saying they had self excluded, and a majority (55%) saying they were unaware of such a service.Despite this, Sweden appears to be controlling problem gambling, with just 3% believing they gambled too much, unchanged in the past five years of the survey. However 7% believed that one of their close relatives was gambling too much. There were also signs that players don’t believe they are being kept safe, with just 12% agreeing that the gambling market was safe for customers. Those that did not gamble, meanwhile, said that this was primarily due to the fact they never win, and had never won, according to 32% of respondents. A further 22% said they did not believe gambling was a safe activity. The percentage of Sweden’s population that gambles has fallen by 10% over the past five years, according to the annual market survey conducted on behalf of the country’s gambling regulator Spelinspektionen, the last investigation into the market carried out before new iGaming regulations came into force on January 1, 2019. Subscribe to the iGaming newsletter 14th January 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Lottery People Sports betting Slots Tags: Online Gambling Slot Machines Regions: Europe Nordics Sweden Swedish gambling survey reveals falling participation rate Email Addresslast_img read more

Perform launches new data service with Bet365 and SkyBet

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Tech & innovation 4th February 2019 | By contenteditor Sports betting Tags: Online Gambling Perform has announced Bet365 and SkyBet as the launch partners for its new Opta Fast Player Statistics Feed.center_img Perform launches new data service with Bet365 and SkyBet Sports content provider Perform has unveiled Bet365 and SkyBet as the launch partners for its new Opta Fast Player Statistics Feed real-time data service.The feed pushes in-play statistics such as shots, passes and tackles to operators, with those that use the new service able to integrate this data into bet-builders and request-a-bets for football competitions around the world.Partner operators have the option to either ingest Opta’s fast player data directly to power their own trading, or work with pricing providers that are accredited to use Opta’s data, including the likes of Sportcast and Banach.Bet365 and SkyBet are the first operators to use fast player data from the service to power their in-play betting products.Andrew Ashenden, chief commercial officer at Perform, said: “Our expertise in both fast data for in-play trading, via RunningBall, and deep data, via Opta, means we’re uniquely placed to create a fast player statistics service that operators, fans and bettors can trust.“Fans and bettors the world over are accustomed to seeing data like shots, passes and tackles collected in line with Opta definitions across media and broadcast.”To support the launch of the new service, SkyBet ran a promotional campaign, pledging to deliver ‘In-play, as you’ve never seen it before’.John Harlow, SVP betting at Perform, added: ‘If you’re a bettor following in-play events like shots, tackles and passes, it’s like you’re watching an entirely new game.“Goals are still the most important thing of course, but shots happen ten times as frequently as goals, and from a wider spread of players, so the new Opta feed has given a way for operators to create compelling new player-focused experiences that occur throughout the 90 minutes.” Subscribe to the iGaming newsletter Email Addresslast_img read more

GC urges consumer protection focus as FOBT limits lowered

first_img Email Address Tags: OTB and Betting Shops Topics: Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The GB Gambling Commission has called on operators not to attempt to circumvent the new limits on fixed-odds betting terminals (FOBTs) and ensure that they remain committed to protecting their customers from gambling-related harm. 1st April 2019 | By contenteditor The GB Gambling Commission has called on operators not to attempt to circumvent the new limits on fixed-odds betting terminals (FOBTs) and ensure that they remain committed to protecting their customers from gambling-related harm.From today (April 1), the maximum stake on all FOBT machines in the UK will be lowered to £2 (€2.33/$2.61) per spin, down from the previous limit of £100.The Government had initially planned to introduce the new changes in October, but criticism from backbenchers and the resignation of Minister Tracey Crouch pushed the Government to bring the implementation date forward.The Commission has now issued a warning to operators not to let their responsible gambling standards slip in the wake of the changes. The regulator has written to all licensees to remind them of their responsibilities to protect their customers.Commission chief executive Neil McArthur said that the regulator has been monitoring operators’ plans to manage the implementation of the stake cut and will continue to observe licensees to ensure that any changes or new product launches to mitigate the cuts are carried out “with a focus on customer safety”.“Together with Government and the industry, we must continue our ongoing work to make the whole industry safer – this includes continuing to make progress with making other products safer, as customers may move to gamble in other ways following the stake cut – including online, mobile and on the high street,” he said.“It’s imperative that operators invest in and use data, technology and measures to identify harmful play and can step in to protect players when needed. They should be innovating to protect their customers as much as they do to make a profit.”Jeremy Wright, the UK’s Secretary of State for Digital, Culture, Media and Sport, echoed McArthur’s comments, saying that while the reduction in maximum stake is a “significant step forward in protecting vulnerable people”, more must be done to protect consumers.Wright said: “The Government’s actions and ambitions stretch much further and we are looking at further treatment of those who have suffered from gambling-related harm, whether gambling on credit should be limited and considering what actions are necessary to tackle problem gambling online.”The maximum stake reduction is part of an ongoing Commission effort to boost protection measures for consumers. The regulator is also currently looking at making changes to other Category B machines available on the high street, to help protect the consumer, including tracking play, using time, monetary limits and alerts, and communicating messages about gambling safely. Elsewhere, the Commission is tightening up rules for online gambling, with new identity and age check rules due to come into force from May to reduce the risk of children gambling online.Other measures currently under consideration include banning the use of credit cards for online gambling, the introduction of industry-funded gambling blocking software, and improving how operators interact with a customer that may be experiencing gambling-related harmNext month the regulator will launch its  new  national strategy , developed in consultation with consumers, gambling businesses and other groups, that will set out how the organisation intends to reduce gambling harms. Regions: UK & Ireland Subscribe to the iGaming newsletter Legal & compliance GC urges consumer protection focus as FOBT limits loweredlast_img read more

Genius Sports expands digital marketing product suite

first_img Genius Sports expands digital marketing product suite Genius Sports Group’s media technology division, Genius Sports Media, now comprises an expanded series of marketing tools for sportsbook and gaming operators. Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Genius Sports Group’s media technology division, Genius Sports Media, now comprises an expanded series of marketing tools for sportsbook and gaming operators.The suite of data-driven fan engagement solutions, which will also be available to sports rights-holders, brands and digital publishers, will enable advertisers to tailor content and deliver campaigns around the sporting calendar.The digital marketing channels will allow real-time statistics, betting odds or video highlights to be embedded into creative campaigns.Genius Sports Media has also launched a range of live data-driven widgets for digital publishers, including an odds comparison service and affiliate marketing platform.Sister company Betgenius has been offering digital marketing services to betting and gaming operators for a number of years, having acquired ad tech firm Connextra back in 2007.“We have been helping brands acquire customers for well over a decade and have subsequently built an understanding of how and when sports fans engage with media that simply can’t be replicated by traditional agencies,” Genius Sports Group chief executive Mark Locke said.“Using this expertise, in combination with our rapidly expanding live data portfolio, advertisers targeting sports fans can instantly connect with them in real-time to build stronger relationships that significantly increase conversion rates.“By unifying these capabilities with our new suite of publisher products, Genius Sports Media both extends and optimises the services we can provide for brands and publishers in this highly competitive marketplace.”In recent months, Genius Sports has made significant inroads into the North American media rights market.In May, the company brokered a deal with Nascar to develop an official betting product for the North American stock-car racing series, following a similar agreement that was struck with the NBA basketball league late last year. Also last month, Genius Sports finalised a major betting data partnership with Football DataCo, giving the supplier exclusive rights to collect, license and distribute live data from the UK’s leading football competitions, including the Premier League from the start of the 2019-20 season. Topics: Sports betting 25th June 2019 | By contenteditor Email Addresslast_img read more

Challenging UK market slows LeoVegas H1 growth

first_img Tags: Mobile Online Gambling Finance Email Address Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter LeoVegas Gaming Group saw revenue grow in the first half of 2019, but challenging operating conditions in the UK eroded company profits over the period.Revenue for the six months through to June 30, 2019 amounted to €180.7m (£167.4m/$202.0m), up by 10% year-on-year compared to €164.8m in 2018.However, cost of sales increased from €30.3m to €34.9m, while gaming duties also climbed from €15.1m to €24.4m. LeoVegas saw gross profit climb from €119.3m to €121.6m, but operating profit slipped from €13.0m to €9.1m. Profit before tax fell from €9.0m to €8.0, while net profit for the period dropped from €8.4m to €7.4m.The operator was also hit by a drop in earnings before interest, tax, depreciation and amortisation (EBITDA), which fell from €24.5m to €22.3m.Financial results for the second quarter made for slightly more positive reading for LeoVegas, with revenue in the three months to June 30 up 8% year-on-year to €94.4m.Organic growth in local currencies was 8% and growth was favourable in most markets, but LeoVegas was hit by tighter social responsiblity controls and increased Remote Gaming Duty in the UK. Excluding the UK, local currency organic growth was up 26%. This contributed to revenue from European markets outside of the Nordic region falling to 47% of group revenue, down from 49% in Q2 2018.While the newly regulated Swedish market has proved challenging for many operators, Hagman said he was satisifed with LeoVegas’ performance there, and believed it was taking market share from competitors. He claimed that it is now the largest online casino brand in the market, aided by the launch of complementary brands GoGoCasino and Despite this, the Nordic region saw its share of group revenue drop two percentage points to 40%.However, president and chief executive Gustaf Hagman said that due to expansion into new markets, the operator had a more balanced geographic revenue mix. This was in evidence from revenue generated in other markets growing to 13% of the group total. “This means that we are not as sensitive to challenges that may arise in a specific market, which in turn means that we have lower business risk in the group,” he explained.However, these challenges still hit LeoVegas’ bottom line, with operating profit down from €9.3m to €8.5m.EBITDA in Q2 was up slightly to €15.1m, with a margin of 16.0%. Second quarter pre-tax profit rose to €8.0m, with net profit after tax increasing from €6.6m to €7.4m.This, Hagman said, showed the benefit of efforts to control costs and operate efficiently, with LeoVegas continuing to review external partner agreements and look to streamline its structure. “This work is helping to create necessary economies of scale and is countering the effect of that we are paying more gambling taxes,” he explained. “As previously communicated, our marketing investments also decreased compared with the first quarter of the year. A contributing factor to this is more restrained marketing in Sweden during the quarter.“The external market environment in several key markets is currently more turbulent and difficult to predict than previously, which is creating new challenges and requirements, but at the same time it is presenting major opportunities for us to grow and take market shares.”Key to future growth will be Spanish-speaking markets. Following the end of Q2, LeoVegas secured a Spanish operating licence, going live two weeks after securing approval.“This shows the strength and speed of LeoVegas and further demonstrates that our experience from regulated markets benefits us,” Hagman noted. The operator has also expanded into Latin America, launching in Chile and Peru, as well as Brazil.Looking at the operator’s performance, analysts at Regulus Partners noted that LeoVegas continued to perform well as a disruptor in markets, helping offset increased taxes and operating restrictions in regulated markets.“To some extent this demonstrates the resilience of operationally capable businesses with broadly based regulatory risk,” Regulus said. “However, for us sustainability must still mean profitable growth in domestically regulated markets, which appears to remain challenging for the group.”center_img Topics: Finance Challenging UK market slows LeoVegas H1 growth 14th August 2019 | By contenteditor LeoVegas Gaming Group saw revenue grow in the first half of 2019, but challenging operating conditions in the UK eroded company profits over the period.last_img read more

BetVictor unveils Smart Cards for racing

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Tech & innovation BetVictor has unveiled its new Smart Cards product, giving customers of the online gambling company access to a continuous stream of live horse racing updates.The products have been developed in collaboration with BetVictor’s data partner, Timeform, with the aim of allowing punters to make better-informed betting decisions in real time.The Smart Cards will update the traditionally static information provided 24 hours before each race with updates, tips and race-day trends.The live stats product, which will be integrated into BetVictor’s standard race card, will be available via mobile across all UK and Irish race meetings.The product launch forms part of BetVictor’s new creative campaign entitled ‘See The Bigger Picture’ and follows the recent recruitment of several BetVictor brand ambassadors, such as jockeys Rachael Blackmore and Nicola Currie, and trainer Jamie Snowden.“Today, across almost every sport that punters bet on, the use of statistical information to produce real-time insights is increasingly important,” BetVictor director of product Eoin Ryan said.“However, over the past few years horse racing products have remained relatively static. By integrating the latest Timeform services in our horse racing offering, the new Smart Cards product really raises the bar.”Timeform, a long-term partner of BetVictor, also supports the operator’s Betfinder service, which allows customers to identify horses to bet on. BetVictor unveils Smart Cards for racing Email Address BetVictor has unveiled its new Smart Cards product, giving customers of the online gambling company access to a continuous stream of live horse racing updates.center_img Regions: UK & Ireland Sports betting 20th August 2019 | By contenteditor Subscribe to the iGaming newsletterlast_img read more