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NetEnt: Interim report January – June 2018

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Today, July 13, 2018, at 9.00 a.m. the interim report will be presented by CEO Therese Hillman live via a combined telephone conference and webcast. The presentation can be followed in real-time on NetEnt’s website, the link to the webcast is: https://tv.streamfabriken.com/netent-q2-2018

The dial-in number for the telephone conference is:

Sweden: +46 8 506 39549

UK: +44 20 30089802

Quote from Therese Hillman, Group CEO:

”During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. I look forward to a busy autumn, focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus.”

Second quarter 2018:

  • Revenues for the second quarter amounted to SEK 437 (413) million
  • EBITDA amounted to SEK 202 (187) million, a margin of 46.3 (45.2)%
  • Operating profit (EBIT) amounted to SEK 149 (147) million, a margin of 34.0
  • (35.6)%
  • Profit after tax of SEK 139 (136) million
  • Earnings per share of SEK 0.58 (0.57) before and after dilution
  • 8 (6) new customer agreements signed, and 7 (8) new customers’ casinos
  • launched

First half-year 2018:

  • Revenues for the first half-year amounted to SEK 867 (806) million
  • EBITDA amounted to SEK 384 (350) million, a margin of 44.3 (43.5)%
  • Operating profit (EBIT) amounted to SEK 283 (274) million, a margin of 32.6 (34.0)%
  • Profit after tax of SEK 285 (251) million
  • Earnings per share of SEK 1.19 (1.04) before and after dilution
  • 14 (21) new customer agreements signed, and 15 (14) new customers’ casinos launched

Important events in the second quarter:

  • The AGM elected Fredrik Erbing as new Chairman of the Board of Directors
  • The Board appointed Therese Hillman as new CEO
  • Five new slot games released, including Archangels Salvation, Lost Relics and Jumanji
  • Beta-launched slot games for Social Casino
  • Signed customer agreement with Hard Rock in New Jersey

Comments by Therese Hillman, Group CEO:

Revenues for NetEnt increased by 5.9 percent (-0.8 percent in euro) to SEK 437 million in the second quarter of 2018. The operating profit (EBIT) increased by 1.2 percent to SEK 149 million, representing a margin of 34.0 (35.6) percent. Cash flow after investments increased by 35.8 percent to SEK 178 (131) million in the quarter.

We continue to see that our core markets in the Nordics and the UK are maturing, and competition has increased. During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. At the same time, we continue to review our cost structure to improve scalability across the business, and we have started to see a lower pace of cost growth. We continue to target higher revenue growth than cost growth.

At the beginning of June, the Swedish parliament approved the new gambling law, and our preparations ahead of the Swedish market re-regulation has intensified since then. We aim to have a broad selection of our games certified when the new licensing system starts on January 1, 2019 and work closely with our customers on all fronts to ensure a successful market entry right from the start.

We released five new slot games in the quarter: Archangels Salvation, Lost Relics, Jumanji, Witchcraft Academy and Bollywood Story. The latter two titles had previously been customer-exclusive and were released to the rest of our customers in June. The innovative game Jumanji combines slots and board game features and has been well received by players. So far, three weeks since its launch, it is our best game release this year.

I also follow the development of our upcoming new games with great interest. Among other things, we will present a new game concept with the launch of BerryBurst in August, which is based on player feedback and insights. A new initiative is the beta-launch of our games in the form of Social Casino games on Facebook, which in the longer-term perspective could add new revenues and strengthen our game brands with players on many different markets. Through this initiative, we capitalize on our existing digital assets.

With regards to Live Casino, the new product called Live Beyond Live was launched on desktop for Mr Green at the end of May, and since that we have noticed a steady increase in number of players, bets and gamewin. Just in time for the FIFA World Cup, we introduced a new type of functionality for Live Casino, called Sports Betting Widget, which allows players to place bets on sports without leaving the roulette table. As a first step, the feature has been rolled out to a handful of customers. We see good demand for our bespoke, virtual multi-table solutions – Live Beyond Live being the first such product – and expect to launch new customer-exclusive tables for several customers this year.

Regionally, we saw similar developments as in the first quarter. Growth in locally regulated markets continued at a high pace, especially in Southern and Eastern Europe, while overall revenue growth was negatively impacted by a weaker development in the Nordics and in the UK. The share of revenues from locally regulated markets was 36 (32) percent in the quarter. In the US, we now see some positive signs after the Supreme Court decision in May that paves the way for sports betting to be legalized in New Jersey and other US states. Thanks to our presence in New Jersey, we are in a good position to enter other US states if and when they open for online casino.

Mobile games continued to contribute to our growth and accounted for 58 (56) percent of total gamewin in the quarter. Our ambition is to offer the best mobile games for the online casino market, and therefore we were really pleased to win the award in the category called Innovation in Mobile at the EGR B2B Awards in June.

I look forward to a busy autumn focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus. Presentation of interim report.”

 

For additional information please contact:

Therese Hillman

Group CEO

Phone: +46 8 5785 4500

therese.hillman@netent.com

This information is information that NetEnt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:30 CET on July 13, 2018.

 

About NetEnt

NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on Nasdaq Stockholm (NET–B) and employs more than 1,000 people in Malta, Stockholm, Gothenburg, Gibraltar, Kiev, Krakow and New Jersey. For more information, please visit

www.netent.com.


Source: Press Releases Published on European Gaming Media Network

Press Releases

Central European panel discussion at CEEGC2018 Budapest to be moderated by Dr. Robert Skalina (Senior Advisor at WH Partners)

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Budapest – 23 July 2018 – With just 64 days left until the third edition of the Central and Eastern Europen Gaming Conference and Awards will kick off, we are anticipating the 3rd sold out event in our portfolio this year. With over 60% of the tickets already the sold, the most prestigious boutique-style gaming seminar is very much awaited by the industry.

The third edition of CEEGC will be held at the Ritz-Carlton in Budapest on the 25th of September and promises to once again bring quality networking and learning opportunities for industry shareholders from all around the world.

We are also honored to announce that the “Focus on Central Europe – Slovakia, Czech Republic, Hungary, Poland” panel discussion will be moderated by Dr. Robert Skalina (Senior Advisor at WH Partners).

The panel discussion will feature experts of the industry such as Bartosz Andruszaniec (RM Legal Kancelaria Radców Prawnych), Gabor Helembai (Bird&Bird), Štefan Švec (Playtech) and Jan Rehola (PS Legal).

You can browse the full agenda and already confirmed speaker list on the following link.

Make sure you grab your seat in time and attend the most prestigious boutique style gaming event which gather C-level executives yearly in one of Europe’s most visited city. Register here!

About Robert

Dr. Robert Skalina is a Czech Advocate as well as a Registered European Lawyer in Malta. He is based in Prague and works in Malta regularly.

He is a financial services and corporate lawyer and provides advice to wide range of investment managers, advisors and funds, including private equity and hedge funds. Robert also regularly advises clients in the gaming/gambling industries and has vast experience in the area of mergers and acquisitions and complex cross border transactions.

Robert has previously held the position of head of legal of a London based investment advisor active throughout EMEA region. Prior to that, he served as legal counsel for the largest retail bank in the Czech Republic.

Robert graduated with an LLM cum laude from the London School of Economics. He holds a Master of Laws degree from the Charles University in Prague. He provides advice in English, Czech and Slovak.

To catch this unique opportunity to learn about how to invest or leverage from the Central European gambling industry, be among the delegates in 2018. Register here!

Quotes about CEEGC Budapest from attending delegates

Rafal Nowak – iGaming Sales Director at Mobiyo

“A week after the Budapest Gaming CEE conferences, I’m still discussing the topics brought up there with fellow delegates. Thank you Zoltan Tundik for organizing an informative an well shaped event on this, often underestimated iGaming territory and good luck with the next one!”

Roy Pedersen – CEO & Chief Editor at All In Translations

“For All-in Translations’ 10 Year Anniversary Tour we decided to attend more smaller conferences. Zoltan and Betty are much of the reason for this. They have a unique way of giving a personal touch to the events they organise while at the same time keeping them highly relevant. CEEGC Budapest was another great example where we felt truly welcome, and at the same time it was great for business.”


Source: Press Releases Published on European Gaming Media Network

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MGM Resorts International Honored With National Council On Problem Gambling’s Corporate Social Responsibility Award

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MGM Resorts International Honored With National Council On Problem Gambling's Corporate Social Responsibility AwardReading Time: 3 minutes

Company’s GameSense program is already transforming how the industry promotes responsible gambling

 

CLEVELAND, July, 2018  — MGM Resorts International was honored with the National Council on Problem Gambling’s (NCPG) Corporate Social Responsibility Award Friday at the organization’s 32nd National Conference on problem gambling in Cleveland.

The award – which recognizes an organization that demonstrates an outstanding commitment to social responsibility related to problem gambling – was presented in recognition of the company’s ground-breaking responsible gambling program: GameSense. Launched nationwide at MGM Resorts’ properties late last year, GameSense integrates responsible gambling education and support into the company’s industry-leading guest service culture. It’s all designed to help guests make informed decisions and keep gambling fun.

“We are thrilled to receive this honor from the National Council on Problem Gambling and can’t thank them enough for the incredible work they do in raising awareness in the problem gambling community,” said MGM Resorts Chairman & CEO Jim Murren. “GameSense has been a tremendous success and is already transforming the way the industry approaches responsible gambling. MGM Resorts is at the forefront of driving the conversation and culture around this important issue, and GameSense ensures responsible gambling education is at the heart of our guest service model at every one of our casinos – worldwide.”

NCPG Executive Director Keith Whyte added that his organization is pleased to recognize MGM Resort’s innovation and leadership with GameSense with its Corporate Social Responsibility Award.

“We’re so proud to congratulate MGM Resorts on this achievement,” Whyte said. “Their steadfast support, innovation and leadership in taking GameSense companywide has set the standard in the casino industry. They have raised the bar considerably and – most importantly – greatly benefited their employees and customers.”

GameSense comes alive through personal interactions between guests and trained staff based at each property’s M life Rewards desk. In addition to speaking to trained employees, guests are also utilizing interactive GameSense touchscreens and picking up educational materials and other resources. This unprecedented commitment to integrating responsible gambling education into the company’s entire guest service model is unlike anything the industry has seen before.

Alan Feldman, Executive Vice President of Global Industry Affairs, said the response to the company’s responsible gambling efforts has been outstanding, adding that guests and employees alike have enjoyed and benefited from having positive, open and proactive conversations about how to gamble responsibly.

“In less than a year, GameSense has sparked more than 350,000 positive conversations and interactions with guests, and the numbers continue to grow at an unprecedented rate. With GameSense, MGM Resorts has expanded and enhanced the scope of responsible gambling culture beyond anything the industry has ever seen,” Feldman said. “The program’s goal of building stronger and more sustainable guest relationships has been incredibly successful, and we look forward to driving the conversation and integrating this program wherever our company operates.”

ABOUT GAMESENSE
Integrated nationwide by MGM Resorts in late 2017, GameSense enhances awareness and education about responsible gambling for players and guests and, in doing so, raising the standards within the industry. The program was developed by the BCLC, British Columbia’s provincial gambling corporation and encourages players to adopt behaviors and attitudes that reduce the risk of developing gambling disorders. This includes setting and sticking to personally allocated time and monetary limits for gambling, as well as being open and honest with family, friends and oneself when it comes to personal gambling habits.

GameSense has earned international recognition such as the World Lottery Association’s Best Overall Responsible Gambling Program (2010), and the U.S.- based National Council on Problem Gambling’s Social Responsibility Award (2015). In addition to being licensed at MGM Resorts casino properties, the program has been implemented by Connecticut Lottery, the Massachusetts Gaming Commission and Canadian provinces Alberta, Saskatchewan and Manitoba.

ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 28 unique hotel offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company in 2018 opened MGM COTAI in Macau and the first Bellagio-branded hotel in Shanghai. It also is developing MGM Springfield in Massachusetts. The 78,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine’s World’s Most Admired Companies®. For more information visit us at www.mgmresorts.com.

 

Source: MGM Resorts International


Source: Press Releases Published on European Gaming Media Network

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GGRocket Launches World’s First Blockchain and AI Solution for the $50B Virtual Gaming Economy

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GGRocket Launches World's First Blockchain and AI Solution for the $50B Virtual Gaming EconomyReading Time: 2 minutes

SINGAPORE, July, 2018 — GGRocket, an international venture-funded big data analytics and in-game trading company, is launching a high-tech AI solution on the blockchain for the gaming economy via an Initial Token Sale on 01 September 2018.

GGRocket is supported by a development grant from Microsoft as well as several Venture Capitalists, having undergone the prestigious IIDF – Europe’s Biggest Accelerator and VC. The company has a development and business team of more than 30 active personnel.

At the heart of GGRocket lie the principles of a decentralised network of clients and pro-gamers that can securely and trustlessly exchange in-game goods and services for real world assets. The entire virtual ecosystem will be built on top of the proprietary GG Chain, which in turn connects participants to smart contracts and decentralised applications. GGRocket Tokens (GGR) will be used as utility and fuel for the ecosystem, allowing buyers, sellers and participants to interact in a trustless environment.

GGRocket already services a sizeable customer base by partnering with LegionFarm.com, a multi-million dollar marketplace for in-game goods and services. The partnership has actively proven the concept in GGRocket’s solutions to more than hundred thousand buyers and sellers.

“With GGRocket, the virtual gaming economy is about to be positively disrupted with AI, eradicating in-game fraud and boosting revenues of businesses,” says Alexey Belyankin, CEO of GGRocket and LegionFarm.com. “Our blockchain technology will amplify the impact of the solution, allowing anyone, be it a business or a customer to be a participant in an active ecosystem.”

 

About GGRocket:

GGRocket is a blockchain-powered trustless virtual economy and AI driven big data analytics for the gaming industry. GGRocket provides for an escrow service for in-game trading and an analytical tool for platforms to increase their revenue using big data harvested from the ecosystem activity.

GGRocket application functionality is based on 2 main instruments: GG Guard – a video recognition escrow system that decides if the deal has been fulfilled in game. GG Robot – a mechanism that utilises big data and machine learning technology in order to create specified and personalised offers for each customer based on their preferences.

More information on the Initial Token Sale can be found at https://ggrocket.io/

 

Source: GGRocket


Source: Press Releases Published on European Gaming Media Network

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