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CEO claims Paddy Power Betfair is “well positioned” in USA

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Peter Jackson, chief executive officer of Paddy Power Betfair, said that the company is “well positioned to achieve scale in the US quickly” after a 20 per cent rise in revenue in the second quarter.

The company’s Q2 results were boosted by the activity around Fifa World Cup, as the sales showed a 13 per cent increase. This is encouraging after a weak first quarter showing for the company.

The highlight of the second quarter, though, was the completion of the deal to acquire US daily fantasy sports operator FanDuel.

Although the takeover was only completed last month, after the end of the second quarter, Jackson said in an earnings call that the operator can be justifiably optimistic about growth opportunities in the US, having already established a presence in the country prior to the FanDuel deal.

Sports revenue spiked by 22 per cent in Q2 in the US, with gaming revenue increasing by 18 per cent.

“Fantasy sports will continue to be an important feature in the US market, especially in states where it could take a while for sports betting to be regulated,” said Jackson, who mentioned the “cross-selling” opportunities.

Jackson added that he envisages a “different market construct” in the US in terms of the balance between free-to-play games and sports betting, given the strength of the DFS market.

“Having 100,000 customers in New Jersey is a good starting point,” he said.

“Our US strategy is to go after the B2C market under the FanDuel brand. We have secured market access agreements covering 15 states and 36 per cent of the US population, including markets where regulation is expected by the end of 2019.

“It’s worth remembering that our US business is not a start-up. We have established brands, with FanDuel in sports and TVG in racing, an extensive product suite, operational expertise and we already operate in 45 states, including real-money wagering in 33.”

“Scale is essential for generating sustainable returns in the long term.”

Jackson, referencing the company’s solid base in the US, added: “The group’s strong balance sheet gives us important firepower and could prove to be a competitive advantage.”

In the trading update, Paddy Power Betfair’s profit before tax edged up by 4 per cent to £106m (€118m/$137m), but underlying earnings slipped by 1 per cent.

Additionally, Paddy Power Betfair also said that full-year earnings before deductions and interest, “pre-US sports betting”, is now expected to be between £460m and £480 – down from the previous expectation outlined in the Q1 trading update of between £470m and £495m.

This was attributed to the introduction of point-of-consumption tax and new product fees in Australia and swallowing up Fanduel’s losses “in the high single digits.”

The company added that, with the “infrastructure” already in place to expand in the US, any expenditure in relation to the market would fall under the marketing column.

Jackson added: “In Europe, product enhancements and improved cross sell rates have led to stronger gaming revenue growth over the past few months for both brands, whilst customer satisfaction with the Paddy Power sports app has stepped up.

“Recent marketing campaigns have also been successful with the Betfair brand increasingly identified as having the best odds. The World Cup was a showcase event for Paddy Power, with a series of successfully executed marketing campaigns leading to it being one of the UK’s most talked about brands in social media conversations around the tournament.”


Source: Latest News on European Gaming Media Network

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Kinguin Launches API Giving Merchants Access to Inventory and Award Winning Customer Support

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Kinguin, one of the world’s leading online retailers in the video and PC game industry today announced the launch of the Kinguin application programming interface (API) for e-commerce. The newly released API is free to qualified online retailers and makes it easy to list, price, and sell thousands of video games while using Kinguin’s award-winning Customer Support and automated order-processing.

With the Kinguin e-commerce API, retailers gain access to a virtually endless supply of CD keys via Kinguin’s robust video and PC game catalog, eliminating traditional online store needs of inventory management and control, while offering larger, more diverse selections of products. Retailers can immediately add up to 15,000 games with customizable attributes such as pricing, descriptions and more to their existing store offerings.

Customers pay the participating store directly as normal, then, without any middlemen or delays, orders are automatically processed by Kinguin. Game keys are immediately dispatched once an automated purchase information has been received. Problems regarding game keys or transactions will be handled completely, professionally and immediately via Kinguin’s award-winning customer service channels – simplifying the purchasing experience for merchants and gamers.

“The mission of the Kinguin API for e-commerce is to make it easier for any e-commerce store to distribute virtual products. In this way, businesses can take advantage of the large volume of products available at Kinguin.net quickly, easily, and profitably,” says Kamil Grabowski, Project Manager behind Kinguin’s API for e-commerce. “Our goal is to satisfy the gaming community, both players and merchants, and with this API, it’s going to be easier than ever.”

To apply for the Kinguin API e-commerce solution, please apply here.

About Kinguin:
Founded in 2013, Kinguin has fast become the largest alternative marketplace to Steam, Origin, and Battle.net, with more than 7 million loyal customers globally. Kinguin’s mission is to create an ecosystem built for the gamer. To achieve this, Kinguin provides easy and secure access to games, innovative ways for gamers to trade and conduct commerce, and new ways for developers to reach customers directly. Kinguin is also involved with esports, esports venues, and esports centers of excellence worldwide. Visit https://www.kinguin.net and https://www.kinguin.io for more information.


Source: Latest News on European Gaming Media Network

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Leap Gaming launches Instant Football

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Leap Gaming launches Instant FootballReading Time: 1 minute

 

Leap Gaming, a developer of 3D multi-platform casino and gaming solutions, has launched its latest game, titled Instant Football.

It provides an on-demand football experience through both desktop and mobile devices. Its hallmarks are realistic animated action and fast-paced betting options.

The interface is characteristically simple and intuitive. It features 16 teams. Its other features include the option to browse between games, on-demand activation of games and the ability to skip scenes and matches for faster betting.

Instant Football offers a broad range of betting markets, including home and away teams, and Rebet and Rebet*2 on the same teams – all of which are available 24/7.

Video footage has been created using motion capture technology to record professional players and scans of real stadiums, and is voiced with professional commentary.

The game also offers a range of customisable options, including the UI and UX, languages (the game automatically adjusts to location), currency and betting limits.

It is available directly through Leap Gaming, or via 1X2 Network, SG Digital and other selected platforms.

Yariv Lissauer, CEO of Leap Gaming, said: “Instant Football is one of our most complete game to date, and combines stunning graphics with professional commentary with a wide range of betting options to deliver a truly world-class player experience.

“Virtuals are becoming increasingly popular as players demand round the clock access to sports events and games, and we can certainly deliver this via titles such as Instant Football.”

 

Source: interGameOnline


Source: Latest News on European Gaming Media Network

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NOVOMATIC Lottery Solutions wins Norsk Tipping’s competition

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NOVOMATIC Lottery Solutions wins Norsk Tipping’s competitionReading Time: 1 minute

 

NOVOMATIC Lottery Solutions (NLS), a full-service lottery provider based in Austria, has won a mini competition conducted by Norsk Tipping to find a suitable supplier of the digital version of the lottery’s most popular scratch game “Million Flax”.

“Million Flax” is one of the core products in Norsk Tipping’s portfolio of physical scratch games and it has won a great brand recognition since its launch in 1995. NLS offered not only a smooth transition of all elements from the physical ticket to its digital version but also proposed attractive and playful animations that can further enhance players’ retention.

“We are very happy that once again our offering has proven to be the best fit for Norsk Tipping’s sophisticated online games portfolio. It was a competitive bid and the fact that we won based on quality is another validation of NLS’ innovative approach to the eInstant game category” – explained Pall Palsson, Director of Product Management at NLS.

This win comes as part of the contract that NLS inked with Norsk Tipping in March 2017, following a competitive tender procedure. Under the terms of the contract, NLS supports the growth and diversity of lottery’s e-Instant portfolio and provides business development expertise in the area of interactive games.


Source: Latest News on European Gaming Media Network

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