Connect with us

Latest News

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

Published

on

Reading Time: 2 minutes

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

Latest News

Microgaming presents a world filled with magic and enchanted riches with Book of Oz

Published

on

Microgaming presents a world filled with magic and enchanted riches with Book of OzReading Time: 2 minutes

 

Microgaming releases Book of Oz, the latest slot developed by Triple Edge Studios, an independent studio creating exclusive titles, such as Wicked Tales: Dark Red, for Microgaming operators.

Book of Oz is an enchanting five-reel, ten-payline, high-volatility online slot. Brimming with fantasy, magic and adventure, the game welcomes players into a world filled with enchanted riches.

Featuring Wilds, Scatters, Free Spins and Re-Spins, the fantasy themed slot encompasses whimsical art and captivating symbols, such as the lion of courage, the potion of love, the mystical wizard and the golden book, which are displayed on the reels to leave players spellbound as they spin to win magnificent rewards.

The Wizard’s Book acts as both a scatter and a wild, which can result in powerful wins. Three or more Book Scatter Symbols trigger 10, 12 or 25 free spins, providing players with the opportunity for more frequent feature triggers. High-paying expanding and illuminating symbols can potentially trigger wins of up to 5,000 times the initial bet in free spins.

The game’s Re-spin feature adds an element of thrill and excitement to the base game. After an initial wager, the player can pay to respin a single reel independently at an additional variable cost; for example, after a winning spin of four-of-a-kind Wizard symbols, the player can pay to spin the fifth reel to try to get five of a kind. Players can develop their own strategy within the base game after every result, including the opportunity to land more Wizard’s Book symbols to uncover the enchanted story within free spins.

Emerald riches lie in wait for players in Book of Oz, which will be available exclusively for Microgaming operators across desktop and mobile platforms from Tuesday 11 December.

“We are extremely excited to release Book of Oz, our fifth game this year under the Triple Edge Studios brand. This has been the most fun we’ve had developing a game and the Re-spin feature is a brilliantly fun addition. Bespoke hand-painted art was created to help tell our fantastical tale. Infused with fantasy and adventure, Book of Oz will leave players spellbound. Stay tuned for more exciting games from us in the future, which we will be supplying exclusively for Microgaming.” – Brendan Walton, Design Lead at Triple Edge Studios.

“Book of Oz is another fantastic creation by Triple Edge Studios enriched with magical artistry and packed with rich game mechanics. Players can listen to an intriguing soundtrack while immersing themselves in the game to uncover an enthralling storyline as they play. The Re-Spin feature adds a new dynamic twist to the overall gameplay, enhancing the level of engagement and it combines extremely well with the win potential in the game, where players can win up to 5,000 times their bet.” – David Reynolds, Games Publisher at Microgaming


Source: Latest News on European Gaming Media Network

Continue Reading

Latest News

Sportradar signs multi-year partnership with NASCAR

Published

on

Sportradar signs multi-year partnership with NASCARReading Time: 2 minutes

 

NASCAR has shown a strong commitment to protecting the integrity of their sport by announcing a multi-year partnership with Sportradar’s Integrity Services, the world’s leading supplier of sports betting-related monitoring, education, investigation and consultancy services.

 

As part of the agreement, Sportradar’s Fraud Detection System (FDS) will monitor domestic and global betting activity for signs of nefarious activity for all races across NASCAR’s three largest events: Monster Energy NASCAR Cup Series, NASCAR Xfinity Series and NASCAR Camping World Truck Series. Sportradar’s FDS is currently used by over 75 sports bodies around the world – including the NBA, NHL, MLS, FIFA and MotoGP.

NASCAR will also benefit from Sportradar’s Education and Prevention Services. This will include on-site workshops for NASCAR drivers, teams, officials and associated stakeholders delivered by Sportradar’s integrity and educational experts. In addition, Sportradar’s Integrity Services will also help NASCAR develop a fully-fledged betting integrity program, including robust betting-related rules and policies.

Sportradar’s Director, Global Strategy of Integrity Services, Andy Cunningham said: “We are honoured and excited to partner with NASCAR in what is an important time for US sports following the Supreme Court sports betting case decision earlier this year. We look forward to supporting NASCAR in installing a best-in-class integrity framework to protect their sport and its constituents.”

NASCAR VP of Global Media Strategy and Distribution, Brian Herbst, said: “It is critical to be proactive in developing safeguards that protect NASCAR’s on-track product from any potential integrity threats. Sportradar is the leader in this space and knowing that our races will be monitored extensively, while also equipping our industry with the tools and knowledge they require, gives us peace of mind in being able to preserve the integrity of NASCAR as the US wagering market continues to open.”

ABOUT NASCAR
The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States. NASCAR consists of three national series (Monster Energy NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR Gander Outdoors Truck Series™), three regional series, one local grassroots series, three international series and the Automobile Racing Club of America (ARCA). The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. Based in Daytona Beach, Fla., with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information visit www.NASCAR.com.


Source: Latest News on European Gaming Media Network

Continue Reading

Latest News

Calgary set to welcome eSports events

Published

on

Calgary set to welcome eSports eventsReading Time: 1 minute

 

The Calgary eSports League is teaming up with Telus Spark to bring competitive video-game events to Calgary. If successful, the industry can produce revenues of more than $1-billion next year.

Unlike cities including Toronto and Vancouver, Calgary has yet to establish a firm eSports community beyond a few Facebook groups and clubs.

Wes Nelson, spokesman for the Calgary eSports League, said he sees a market for the sport in Calgary.

“Almost all of the elements are in place for a healthy eSports community in Calgary, they just need to be brought together and given a boost in order to thrive,” Nelson added.

eSports offers a platform for the players to interact with the fans. On YouTube, where games are often streamed, five of the top 10 most popular and top-earning YouTubers make their money from video games.

There is a chance that eSports viewership to surpass the National Football League in total viewership by 2022, the Calgary league said.


Source: Latest News on European Gaming Media Network

Continue Reading
Advertisement
NSoft

Industry News

  • Live Event/Conference
  • Error
  • Latest News
  • Gambling in the USA
  • European Commission

  Whether you are a new to the industry or a veteran, Prague Gaming Summit offers the opportunity to [...]

  Prague Gaming Summit is key conference for the industry in the region and over the years has gathe [...]

  Based on reports, a new fight is brewing between merchants and card companies as major card networ [...]

  The 3rd edition of Prague Gaming Summit is gathering huge interest by the industry and we are exci [...]

  We are excited to announce that Assaf Stieglitz (President, Odds1x2 Holdings) will be among the sp [...]

RSS Error: This XML document is invalid, likely due to invalid characters. XML error: Invalid character at line 199, column 31

  The Calgary eSports League is teaming up with Telus Spark to bring competitive video-game events t [...]

  Malta-based Swedish online gambling group Betsson AB has closed down NetPlay, its UK subsidiary fo [...]

  Peter Michael, the Attorney General of Wyoming, has stated that the so-called “skill games” preval [...]

  According to gaming industry publisher Gzbrain Inc, Japan’s eSports market has grown by 13-fold to [...]

  Spanish poker website PokerStars.es has decided to shut down the poker room for Russian players. T [...]

  Luxury gaming manufacturer and electronic table game (ETG) market leader Interblock® has announced [...]

  NASCAR has shown a strong commitment to protecting the integrity of their sport by announcing a mu [...]

  Peter Michael, the Attorney General of Wyoming, has stated that the so-called “skill games” preval [...]

  Missouri plans to include the proposal for a sport betting royalty fee – a fee that the betting op [...]

  Massachusetts has moved closer to start selling state lottery tickets online. State Treasurer Debo [...]

  Today, the new measures to counter money laundering by criminal law enter into force across the EU [...]

Brussels, 19 June 2018 – Digital Single Market: EU negotiators reach a political agreement on free f [...]

LONDON, June 18, 2018 — Codewise, the industry’s first provider of AI-powered online ad measurement [...]

Brussels, 6 June 2018 – The European Parliament and the Council reached late last night a political [...]

Tre

%d bloggers like this: