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AGS Announces Third Quarter 2018 Results
Reading Time: 14 minutes
– Record Quarterly Revenue of $75.5 Million Grew 34% Year-Over-Year
– Total Adjusted EBITDA (non-GAAP) of $33.6 Million Grew 14% Year-Over-Year
– Record Net Income Improved to $4.3 Million
– Record EGM Units Sold of 1,332 Grew 58% Year-Over-Year
PlayAGS, Inc. reported operating results for its third quarter 2018.
AGS President and Chief Executive Officer David Lopez said, “In the third quarter, AGS sold 1,332 EGMs, a 58% jump year-over-year, and a company record. Revenue hit an all-time high of $75.5 million, demonstrating continued demand for our Orion Portrait cabinet and growing momentum for our new Orion Slant, in addition to significant progress in Canada, with 24% of our sold EGMs placed in several Canadian provinces. Our Tables segment posted its best quarter to date, with our innovative progressives contributing to a 30% increase in installs year-over-year. AGS is still very underrepresented in many markets both domestically and internationally, which presents significant long-term growth opportunities for the Company due to our industry-leading game performance, an expanding suite of cabinet options, best-in-class R&D, and diversified product offerings.”
|
Summary of the quarter ended September 30, 2018 and 2017 |
|||||
|
(In thousands, except per-share and unit data) |
|||||
|
Three Months Ended September 30, |
|||||
|
2018 |
2017 |
% Change |
|||
|
Revenues |
|||||
|
EGM |
$ |
71,784 |
$ |
53,331 |
34.6 % |
|
Table Products |
2,052 |
1,099 |
86.7 % |
||
|
Interactive |
1,690 |
2,010 |
(15.9)% |
||
|
Total revenue |
$ |
75,526 |
$ |
56,440 |
33.8 % |
|
Operating income |
$ |
10,110 |
$ |
9,136 |
10.7 % |
|
Net income (loss) |
$ |
4,347 |
$ |
(4,090) |
N/A |
|
Income (loss) per share |
$ |
0.12 |
$ |
(0.18) |
N/A |
|
Adjusted EBITDA |
|||||
|
EGM |
$ |
34,026 |
$ |
29,756 |
14.4 % |
|
Table Products |
428 |
(232) |
N/A |
||
|
Interactive |
(877) |
(123) |
N/A |
||
|
Total Adjusted EBITDA(1) |
$ |
33,577 |
$ |
29,401 |
14.2 % |
|
EGM units sold |
1,332 |
842 |
58.2 % |
||
|
EGM total installed base, end of period |
24,184 |
22,015 |
9.9 % |
||
|
(1) Total Adjusted EBITDA is a non-GAAP measure, see non-GAAP reconciliation below. |
Third Quarter Financial Highlights
- Total revenue increased 34% to $75.5 million, a Company record, driven by continued growth of our EGMs in the Class III marketplace, including entry into Alberta, Canada as well as a large sale to a long-standing tribal customer.
- Recurring revenue grew to $50.7 million, or 18% year-over-year. In addition to the contribution from the EGMs purchased from Rocket Gaming, the increase was driven by our strong domestic revenue per day (“RPD”) of $27.14, up $1.70 year-over-year as well as increases in Table Products revenue driven by an increase in Table Product units.
- EGM equipment sales increased 82% to $24.7 million, another Company record, due to the sale of 1,332 units, of which approximately 24% were sold in Canada and 276 units were sold to a long-standing tribal customer.
- Net income improved to $4.3 million from a net loss of $4.1 million in the prior year period, primarily due to the increased revenue described above.
- Total Adjusted EBITDA (non-GAAP) increased to $33.6 million, or 14%, driven by the significant increase in revenue, partially offset by increased adjusted operating expenses of $6.1 million primarily due to increased headcount in SG&A and R&D. Included in that amount was approximately $1.0 million of operating costs from our recently acquired real money gaming (“RMG”) content-aggregator Gameiom.(1)
- Total Adjusted EBITDA margin (non-GAAP) decreased to 44% in the third quarter of 2018 compared to 52% in the prior year driven by several different factors, most notably the increased proportion of equipment sales as part of total revenues, higher-period costs related to manufacturing, and service costs,as well as increased operating costs mentioned above and costs associated with our recently acquired RMG content-aggregator Gameiom.(1)
- SG&A expenses increased $5.5 million in the third quarter of 2018 primarily due to increased salary and benefit costs of $2.8 million due to higher headcount, and $2.2 million from increased professional fees driven by acquisitions as well as previous securities offerings. The increase was also attributable to costs associated with the recent acquisition of RMG content-aggregator Gameiom.
- R&D expenses increased $1.4 million in the third quarter of 2018 driven by higher salary and benefit costs related to additional headcount. As a percentage of total revenue, R&D expense was 10% for the period ended September 30, 2018 compared to 11% for the prior year period.
(1) Adjusted EBITDA is a non-GAAP measure, see non-GAAP reconciliation below.
Third Quarter Business Highlights
- EGM units sold increased to 1,332, a Company record, in the current quarter compared to 842 in the prior year led by sales of the Orion Portrait and Orion Slant cabinets in early-entry markets such as Alberta, Nevada, and Ontario.
- Domestic EGM RPD increased 7% to $27.14, driven by our new product offerings and the optimization of our installed base by installing our newer higher-performing EGMs.
- EGM average selling price (“ASP”) increased 14% to $18,051, driven by record sales of the premium-priced Orion Portrait cabinet and our newly introduced core-plus cabinet, Orion Slant.
- Table Products increased 328 units sequentially, or 12%, to 3,065 units, driven by organic growth, most notably the Super 4 Progressive Blackjack and Buster Blackjack side bet.
- Our ICON cabinet footprint grew 59% year over year to over 6,800 total units in the field.
- Mexico’s installed base increased 645 units year over year and 240 units sequentially to over 8,100 units with over 420 ICON units as of September 30, 2018.
- The Orion Portrait cabinet ended the third quarter of 2018 with a footprint of over 4,460 total units as compared to 1,123 units in the third quarter of 2017, up 134% from year-end and 298% year-over-year.
- AGS’ new Orion Slant footprint increased to over 780 units by quarter end.
Balance Sheet Review
Capital expenditures increased $5.6 million to $16.1 million in the third quarter, compared to $10.5 million in the prior year period. As of September 30, 2018, we had $33.2 million in cash and cash equivalents, compared to $19.2 million at December 31, 2017. Total net debt, which is the principal amount of debt outstanding less cash and cash equivalents, as of September 30, 2018, was approximately $476.9 million compared to $648.7 million at December 31, 2017. This substantial reduction was driven by the IPO and related redemption of our HoldCo PIK notes during the first quarter. In the third quarter, net debt decreased by over $6.9 million due to mandatory principal payments on our term loans and a higher balance of cash and cash equivalents. As a result of the above transactions and our strong operational performance, our total net debt leverage ratio, which is total net debt divided by Adjusted EBITDA for the trailing 12-month period, decreased from 6.1 times at December 31, 2017, to 3.6 times at September 30, 2018.(2)
(2) Total net debt leverage ratio is a non-GAAP measure, see non-GAAP reconciliation below.
Term Loan Repricing
On October 5, 2018, we entered into an Incremental Assumption and Amendment Agreement No. 2 to reduce the applicable interest rate margin for the Term B Loans by 75 basis point from LIBOR plus 425 bps to LIBOR plus 350 bps, saving nearly $4 million in annual cash interest expense, with an additional 25 basis points potential reduction upon receiving a corporate credit rating of at least B1 from Moody’s Investors Service. In conjunction with the repricing, we secured commitments from lenders for an additional $30 million in terms loans under our existing credit agreement. The net proceeds of the incremental term loans are expected to be used for general corporate purposes and additional capital to accelerate growth.
2018 Outlook
Based on our year-to-date progress and due to our current momentum, we now expect our total Adjusted EBITDA in 2018 to be between $134.0 and $136.0 million. This is an upward revision to the guidance we previously released and is based on our progress executing against our many growth initiatives in the first half of the year and due to our improved visibility for the remainder of the year.
We have not provided a reconciliation of forward-looking total Adjusted EBITDA to the most directly comparable GAAP financial measure, net income (loss), due primarily to the variability and difficulty in making accurate forecasts and projections of the variable and individual adjustments for a reconciliation to net income (loss), as not all of the information necessary for a quantitative reconciliation is available to us without unreasonable effort. We expect that the main components of net income (loss) for fiscal year 2018 shall consist of operating expenses, interest expenses, as well as other expenses (income) and income tax expenses, which are inherently difficult to forecast and quantify with reasonable accuracy without unreasonable efforts. The amounts associated with these items have historically and may continue to vary significantly from quarter to quarter and material changes to these items could have a significant effect on our future GAAP results.
Conference Call and Webcast
Today at 5 p.m. EST management will host a conference call to present the third quarter 2018 results. Listeners may access a live webcast of the conference call, along with accompanying slides, at AGS’ Investor Relations website at http:// investors.playags.com. A replay of the webcast will be available on the website following the live event. To listen by telephone, the U.S/Canada toll-free dial-in number is +1 (866) 270-1533 and the dial-in number for participants outside the U.S./Canada is +1 (412) 317-0797. The conference ID/confirmation code is AGS Q3 2018 Earnings Call.
About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II tribal gaming market, but our customer-centric culture and remarkable growth have helped us branch out to become one of the most all-inclusive commercial gaming suppliers in the world. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, highly rated social casino and real-money gaming solutions for players and operators, and best-in-class service, we offer an unmatched value proposition for our casino partners.
AGS Media Contacts:
Julia Boguslawski, Chief Marketing Officer and Executive Vice President of Investor Relations
[email protected]
Steven Kopjo, Director of Investor Relations
[email protected]
Forward-Looking Statements
This release contains, and oral statements made from time to time by our representatives may contain, forward-looking statements based on management’s current expectations and projections, which are intended to qualify for the safe harbor of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the proposed public offering and other statements identified by words such as “believe,” “will,” “may,” “might,” “likely,” “expect,” “anticipates,” “intends,” “plans,” “seeks,” “estimates,” “believes,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. All forward-looking statements are based on current expectations and projections of future events.
These forward-looking statements reflect the current views, models, and assumptions of AGS, and are subject to various risks and uncertainties that cannot be predicted or qualified and could cause actual results in AGS’s performance to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include, but are not limited to, the ability of AGS to maintain strategic alliances, unit placements or installations, grow revenue, garner new market share, secure new licenses in new jurisdictions, successfully develop or place proprietary product, comply with regulations, have its games approved by relevant jurisdictions and other factors set forth under Item 1. “Business,” Item 1A. “Risk Factors” in AGS’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 30, 2018. All forward-looking statements made herein are expressly qualified in their entirety by these cautionary statements and there can be no assurance that the actual results, events or developments referenced herein will occur or be realized. Readers are cautioned that all forward-looking statements speak only to the facts and circumstances present as of the date of this press release. AGS expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
All ® notices signify marks registered in the United States.
|
PLAYAGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (amounts in thousands, except share and per share data) (unaudited) |
|||||
|
September 30, |
December 31, |
||||
|
Assets |
|||||
|
Current assets |
|||||
|
Cash and cash equivalents |
$ |
33,227 |
$ |
19,242 |
|
|
Restricted cash |
78 |
100 |
|||
|
Accounts receivable, net of allowance of $1,180 and $1,462, respectively |
46,082 |
32,776 |
|||
|
Inventories |
31,819 |
24,455 |
|||
|
Prepaid expenses |
4,638 |
2,675 |
|||
|
Deposits and other |
4,275 |
3,460 |
|||
|
Total current assets |
120,119 |
82,708 |
|||
|
Property and equipment, net |
84,323 |
77,982 |
|||
|
Goodwill |
282,731 |
278,337 |
|||
|
Intangible assets |
204,801 |
232,287 |
|||
|
Deferred tax asset |
1,047 |
1,115 |
|||
|
Other assets |
12,489 |
24,813 |
|||
|
Total assets |
$ |
705,510 |
$ |
697,242 |
|
|
Liabilities and Stockholders’ Equity |
|||||
|
Current liabilities |
|||||
|
Accounts payable |
$ |
12,094 |
$ |
11,407 |
|
|
Accrued liabilities |
22,517 |
24,954 |
|||
|
Current maturities of long-term debt |
6,223 |
7,359 |
|||
|
Total current liabilities |
40,834 |
43,720 |
|||
|
Long-term debt |
492,208 |
644,158 |
|||
|
Deferred tax liability – noncurrent |
678 |
1,016 |
|||
|
Other long-term liabilities |
25,789 |
36,283 |
|||
|
Total liabilities |
559,509 |
725,177 |
|||
|
Commitments and contingencies |
|||||
|
Stockholders’ equity |
|||||
|
Preferred stock at $0.01 par value; 100,000 shares authorized, no shares issued and outstanding |
— |
— |
|||
|
Common stock at $0.01 par value; 450,000,000 shares authorized at September 30, 2018 and 46,629,155 at December 31, 2017; and 35,305,479 and 23,208,706 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively. |
353 |
149 |
|||
|
Additional paid-in capital |
359,819 |
177,276 |
|||
|
Accumulated deficit |
(212,058) |
(201,557) |
|||
|
Accumulated other comprehensive loss |
(2,113) |
(3,803) |
|||
|
Total stockholders’ equity |
146,001 |
(27,935) |
|||
|
Total liabilities and stockholders’ equity |
$ |
705,510 |
$ |
697,242 |
|
|
PLAYAGS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (amounts in thousands, except per share data) (unaudited) |
||||||||
|
Three months ended September 30, |
Nine months ended September 30, |
|||||||
|
2018 |
2017 |
2018 |
2017 |
|||||
|
Revenues |
||||||||
|
Gaming operations |
$ |
50,701 |
$ |
42,849 |
$ |
152,887 |
$ |
125,040 |
|
Equipment sales |
24,825 |
13,591 |
60,317 |
29,254 |
||||
|
Total revenues |
75,526 |
56,440 |
213,204 |
154,294 |
||||
|
Operating expenses |
||||||||
|
Cost of gaming operations(1) |
10,494 |
7,344 |
29,062 |
21,794 |
||||
|
Cost of equipment sales(1) |
12,109 |
6,330 |
28,919 |
14,326 |
||||
|
Selling, general and administrative |
15,284 |
9,742 |
47,411 |
30,368 |
||||
|
Research and development |
7,894 |
6,467 |
23,374 |
17,912 |
||||
|
Write-downs and other charges |
667 |
490 |
3,282 |
2,655 |
||||
|
Depreciation and amortization |
18,968 |
16,931 |
57,784 |
53,598 |
||||
|
Total operating expenses |
65,416 |
47,304 |
189,832 |
140,653 |
||||
|
Income from operations |
10,110 |
9,136 |
23,372 |
13,641 |
||||
|
Other expense (income) |
||||||||
|
Interest expense |
8,956 |
12,666 |
28,253 |
42,380 |
||||
|
Interest income |
(89) |
(25) |
(162) |
(80) |
||||
|
Loss on extinguishment and modification of debt |
— |
— |
4,608 |
8,129 |
||||
|
Other expense (income) |
434 |
(467) |
10,121 |
(4,805) |
||||
|
Income (loss) before income taxes |
809 |
(3,038) |
(19,448) |
(31,983) |
||||
|
Income tax benefit (expense) |
3,538 |
(1,052) |
8,947 |
(4,603) |
||||
|
Net income (loss) |
4,347 |
(4,090) |
(10,501) |
(36,586) |
||||
|
Foreign currency translation adjustment |
1,636 |
(498) |
1,690 |
707 |
||||
|
Total comprehensive income (loss) |
$ |
5,983 |
$ |
(4,588) |
$ |
(8,811) |
$ |
(35,879) |
|
Basic and diluted earnings (loss) per common share: |
||||||||
|
Basic |
$ |
0.12 |
$ |
(0.18) |
$ |
(0.31) |
$ |
(1.58) |
|
Diluted |
$ |
0.12 |
$ |
(0.18) |
$ |
(0.31) |
$ |
(1.58) |
|
Weighted average common shares outstanding: |
||||||||
|
Basic |
35,305 |
23,208 |
34,097 |
23,208 |
||||
|
Diluted |
36,313 |
23,208 |
34,097 |
23,208 |
||||
|
(1) exclusive of depreciation and amortization |
|
PLAYAGS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) |
|||||
|
Nine months ended September 30, |
|||||
|
2018 |
2017 |
||||
|
Cash flows from operating activities |
|||||
|
Net loss |
$ |
(10,501) |
$ |
(36,586) |
|
|
Adjustments to reconcile net loss to net cash provided by operating activities: |
|||||
|
Depreciation and amortization |
57,784 |
53,598 |
|||
|
Accretion of contract rights under development agreements and placement fees |
3,412 |
3,459 |
|||
|
Amortization of deferred loan costs and discount |
1,388 |
2,315 |
|||
|
Payment-in-kind interest capitalized |
— |
7,807 |
|||
|
Payment-in-kind interest payments |
(37,624) |
(2,698) |
|||
|
Write-off of deferred loan cost and discount |
3,410 |
3,294 |
|||
|
Stock-based compensation expense |
9,167 |
— |
|||
|
(Benefit) provision for bad debts |
(198) |
902 |
|||
|
Loss on disposition of assets |
1,383 |
2,896 |
|||
|
Impairment of assets |
1,199 |
333 |
|||
|
Fair value adjustment of contingent consideration |
700 |
— |
|||
|
(Benefit) provision for deferred income tax |
(205) |
2,147 |
|||
|
Changes in assets and liabilities that relate to operations: |
|||||
|
Accounts receivable |
(12,277) |
(9,649) |
|||
|
Inventories |
(3,173) |
(453) |
|||
|
Prepaid expenses |
(1,958) |
(1,119) |
|||
|
Deposits and other |
(626) |
(276) |
|||
|
Other assets, non-current |
13,574 |
(2,010) |
|||
|
Accounts payable and accrued liabilities |
(12,135) |
2,333 |
|||
|
Net cash provided by operating activities |
13,320 |
26,293 |
|||
|
Cash flows from investing activities |
|||||
|
Business acquisitions, net of cash acquired |
(4,452) |
(7,000) |
|||
|
Purchase of intangible assets |
(931) |
(565) |
|||
|
Software development |
(8,794) |
(6,334) |
|||
|
Proceeds from disposition of assets |
21 |
171 |
|||
|
Purchases of property and equipment |
(34,457) |
(35,961) |
|||
|
Net cash used in investing activities |
(48,613) |
(49,689) |
|||
|
Cash flows from financing activities |
|||||
|
Proceeds from issuance of first lien credit facilities |
— |
448,725 |
|||
|
Repayment of senior secured credit facilities |
(115,000) |
(410,655) |
|||
|
Payments on first lien credit facilities |
(3,864) |
(1,125) |
|||
|
Payment of financed placement fee obligations |
(2,688) |
(2,971) |
|||
|
Payments on deferred loan costs |
— |
(3,127) |
|||
|
Repayment of seller notes |
— |
(12,401) |
|||
|
Payments on equipment long-term note payable and capital leases |
(2,108) |
(1,832) |
|||
|
Initial public offering cost |
(4,160) |
(1,203) |
|||
|
Proceeds from issuance of common stock |
176,341 |
— |
|||
|
Proceeds from employees in advance of common stock issuance |
— |
25 |
|||
|
Proceeds from stock option exercise |
731 |
— |
|||
|
Net cash provided by financing activities |
49,252 |
15,436 |
|||
|
Effect of exchange rates on cash and cash equivalents and restricted cash |
4 |
8 |
|||
|
Increase in cash and cash equivalents and restricted cash |
13,963 |
(7,952) |
|||
|
Cash, cash equivalents and restricted cash, beginning of period |
19,342 |
17,977 |
|||
|
Cash, cash equivalents and restricted cash, end of period |
$ |
33,305 |
$ |
10,125 |
|
Non-GAAP Financial Measures
This press release and accompanying schedules provide certain information regarding total Adjusted EBITDA, total Adjusted EBITDA (margin), and total net debt leverage ratio, which are considered a non-GAAP financial measures under the rules of the Securities and Exchange Commission.
We believe that the presentation of total Adjusted EBITDA is appropriate to provide additional information to investors about certain material non-cash items that we do not expect to continue at the same level in the future, as well as other items we do not consider indicative of our ongoing operating performance. Further, we believe total Adjusted EBITDA provides a meaningful measure of operating profitability because we use it for evaluating our business performance, making budgeting decisions, and comparing our performance against that of other peer companies using similar measures. It also provides management and investors with additional information to estimate our value.
Total Adjusted EBITDA is not a presentation made in accordance with GAAP. Our use of the term total Adjusted EBITDA may vary from others in our industry. Total Adjusted EBITDA should not be considered as an alternative to operating income or net income. Total Adjusted EBITDA has important limitations as an analytical tool, and you should not consider it in isolation or as a substitute for the analysis of our results as reported under GAAP.
Our definition of total Adjusted EBITDA allows us to add back certain non-cash charges or expenses that are deducted in calculating net income and to deduct certain gains that are included in calculating net income. However, these charges and expenses and gains vary greatly, and are difficult to predict. They can represent the effect of long-term strategies as opposed to short-term results. In addition, in the case of charges or expenses, these items can represent the reduction of cash that could be used for other corporate purposes. Due to these limitations, we rely primarily on our GAAP results, such as net income (loss), income (loss) from operations, EGM Adjusted EBITDA, Table Products Adjusted EBITDA or Interactive Adjusted EBITDA and use total Adjusted EBITDA only supplementally.
The following table presents a reconciliation of total Adjusted EBITDA to net income (loss), which is the most comparable GAAP measure:
|
Total Adjusted EBITDA Reconciliation |
|||||||
|
Three Months Ended September 30, 2018 compared to the Three Months Ended September 30, 2017 |
|||||||
|
Three months ended |
$ |
% |
|||||
|
2018 |
2017 |
Change |
Change |
||||
|
Net income (loss) |
$ |
4,347 |
$ |
(4,090) |
$ |
8,437 |
206.3 % |
|
Income tax (benefit) expense |
(3,538) |
1,052 |
(4,590) |
(436.3)% |
|||
|
Depreciation and amortization |
18,968 |
16,931 |
2,037 |
12.0 % |
|||
|
Other expense (income) |
434 |
(467) |
901 |
192.9 % |
|||
|
Interest income |
(89) |
(25) |
(64) |
(256.0)% |
|||
|
Interest expense |
8,956 |
12,666 |
(3,710) |
(29.3)% |
|||
|
Write-downs and other(1) |
667 |
490 |
177 |
36.1 % |
|||
|
Loss on extinguishment and modification of debt(2) |
— |
— |
— |
— % |
|||
|
Other adjustments(3) |
893 |
474 |
419 |
88.4 % |
|||
|
Other non-cash charges(4) |
1,700 |
1,551 |
149 |
9.6 % |
|||
|
New jurisdictions and regulatory licensing costs(5) |
— |
567 |
(567) |
(100.0)% |
|||
|
Legal and litigation expenses including settlement payments(6) |
(45) |
181 |
(226) |
(124.9)% |
|||
|
Acquisitions and integration related costs including restructuring and severance(7) |
746 |
71 |
675 |
950.7 % |
|||
|
Non-cash stock-based compensation(8) |
538 |
— |
538 |
100.0 % |
|||
|
Total Adjusted EBITDA |
$ |
33,577 |
$ |
29,401 |
$ |
4,176 |
14.2 % |
|
Total revenue |
$ |
75,526 |
$ |
56,440 |
|||
|
Total Adjusted EBITDA margin |
44.5% |
52.1% |
|||||
|
(1) |
Write-downs and other include items related to loss on disposal or impairment of long-lived assets, fair value adjustments to contingent consideration and acquisition costs |
|
(2) |
Loss on extinguishment and modification of debt primarily relates to the refinancing of long-term debt, in which deferred loan costs and discounts related to old senior secured credit facilities were written off |
|
(3) |
Other adjustments are primarily composed of professional fees incurred for projects, corporate and public filing compliance, contract cancellation fees and other transaction costs deemed to be non-operating in nature |
|
(4) |
Other non-cash charges are costs related to non-cash charges and losses on the disposition of assets, non-cash charges on capitalized installation and delivery, which primarily includes the costs to acquire contracts that are expensed over the estimated life of each contract and non-cash charges related to accretion of contract rights under development agreements |
|
(5) |
New jurisdiction and regulatory license costs relates primarily to one-time non-operating costs incurred to obtain new licenses and develop products for new jurisdictions |
|
(6) |
Legal and litigation expenses include payments to law firms and settlements for matters that are outside the normal course of business |
|
(7) |
Acquisition and integration costs include restructuring and severance and are related to costs incurred after the purchase of businesses, such as the acquisitions of Rocket and AGS iGaming, to integrate operations |
|
(8) |
Non-cash stock-based compensation includes non-cash compensation expense related to grants of options, restricted stock, and other equity awards |
|
Nine Months Ended September 30, 2018 compared to the Nine Months Ended September 30, 2017 |
|||||||||||
|
Nine months ended September 30, |
$ |
% |
|||||||||
|
2018 |
2017 |
Change |
Change |
||||||||
|
Net loss |
$ |
(10,501) |
$ |
(36,586) |
$ |
26,085 |
71.3 % |
||||
|
Income tax (benefit) expense |
(8,947) |
4,603 |
(13,550) |
(294.4)% |
|||||||
|
Depreciation and amortization |
57,784 |
53,598 |
4,186 |
7.8 % |
|||||||
|
Other expense (income) |
10,121 |
(4,805) |
14,926 |
310.6 % |
|||||||
|
Interest income |
(162) |
(80) |
(82) |
(102.5)% |
|||||||
|
Interest expense |
28,253 |
42,380 |
(14,127) |
(33.3)% |
|||||||
|
Write-downs and other(1) |
3,282 |
2,655 |
627 |
23.6 % |
|||||||
|
Loss on extinguishment and modification of debt(2) |
4,608 |
8,129 |
(3,521) |
(43.3)% |
|||||||
|
Other adjustments(3) |
2,218 |
2,067 |
151 |
7.3 % |
|||||||
|
Other non-cash charges(4) |
4,890 |
5,462 |
(572) |
(10.5)% |
|||||||
|
New jurisdictions and regulatory licensing costs(5) |
— |
1,304 |
(1,304) |
(100.0)% |
|||||||
|
Legal and litigation expenses including settlement payments(6) |
789 |
766 |
23 |
3.0 % |
|||||||
|
Acquisitions and integration related costs including restructuring and severance(7) |
3,156 |
899 |
2,257 |
251.1 % |
|||||||
|
Non-cash stock-based compensation(8) |
9,167 |
— |
9,167 |
100.0 % |
|||||||
|
Total Adjusted EBITDA |
$ |
104,658 |
$ |
80,392 |
$ |
24,266 |
30.2 % |
||||
|
Total revenue |
213,204 |
154,294 |
|||||||||
|
Total Adjusted EBITDA margin |
49.1% |
52.1% |
|||||||||
|
(1) |
Write-downs and other include items related to loss on disposal or impairment of long-lived assets, fair value adjustments to contingent consideration, and acquisition costs |
|
(2) |
Loss on extinguishment and modification of debt primarily relates to the refinancing of long-term debt, in which deferred loan costs and discounts related to old senior secured credit facilities were written off |
|
(3) |
Other adjustments are primarily composed of professional fees incurred for projects, corporate and public filing compliance, contract cancellation fees, and other transaction costs deemed to be non-operating in nature |
|
(4) |
Other non-cash charges are costs related to non-cash charges and losses on the disposition of assets, non-cash charges on capitalized installation and delivery, which primarily includes the costs to acquire contracts that are expensed over the estimated life of each contract, and non-cash charges related to accretion of contract rights under development agreements |
|
(5) |
New jurisdiction and regulatory license costs relate primarily to one-time non-operating costs incurred to obtain new licenses and develop products for new jurisdictions |
|
(6) |
Legal and litigation expenses include payments to law firms and settlements for matters that are outside the normal course of business |
|
(7) |
Acquisition and integration costs include restructuring and severance and are related to costs incurred after the purchase of businesses, such as the acquisitions of Rocket and AGS iGaming, to integrate operations |
|
(8) |
Non-cash stock-based compensation includes non-cash compensation expense related to grants of options, restricted stock, and other equity awards |
|
Adjusted EBITDA Reconciliation |
||||||||||
|
The following tables reconcile net income (loss) to total adjusted EBITDA: |
||||||||||
|
2017 |
||||||||||
|
Q1 |
Q2 |
Q3 |
Q4 |
YTD |
||||||
|
Net loss |
$ |
(12,386) |
$ |
(20,110) |
$ |
(4,090) |
$ |
(8,520) |
$ |
(45,106) |
|
Income tax expense (benefit) |
2,233 |
1,318 |
1,052 |
(6,492) |
(1,889) |
|||||
|
Depreciation and amortization |
18,451 |
18,216 |
16,931 |
18,051 |
71,649 |
|||||
|
Other (income) expense |
(2,809) |
(1,529) |
(467) |
1,867 |
(2,938) |
|||||
|
Interest income |
(15) |
(40) |
(25) |
(28) |
(108) |
|||||
|
Interest expense |
15,160 |
14,554 |
12,666 |
13,131 |
55,511 |
|||||
|
Write-downs and other(1) |
232 |
1,933 |
490 |
1,830 |
4,485 |
|||||
|
Loss on extinguishment and modification of debt(2) |
— |
8,129 |
— |
903 |
9,032 |
|||||
|
Other adjustments(3) |
647 |
946 |
474 |
823 |
2,890 |
|||||
|
Other non-cash charges(4) |
2,111 |
1,800 |
1,551 |
2,332 |
7,794 |
|||||
|
New jurisdictions and regulatory licensing costs(5) |
235 |
502 |
567 |
758 |
2,062 |
|||||
|
Legal and litigation expenses including settlement payments(6) |
399 |
186 |
181 |
(243) |
523 |
|||||
|
Acquisitions and integration related costs including restructuring and severance(7) |
647 |
181 |
71 |
2,037 |
2,936 |
|||||
|
Non-cash stock based compensation(8) |
— |
— |
— |
— |
— |
|||||
|
Total Adjusted EBITDA |
$ |
24,905 |
$ |
26,086 |
29,401 |
26,449 |
106,841 |
|||
|
(1) |
Write-downs and other include items related to loss on disposal or impairment of long-lived assets, fair value adjustments to contingent consideration, and acquisition costs |
|
(2) |
Loss on extinguishment and modification of debt primarily relates to the refinancing of long-term debt, in which deferred loan costs and discounts related to old senior secured credit facilities were written off |
|
(3) |
Other adjustments are primarily composed of professional fees incurred for projects, corporate and public filing compliance, contract cancellation fees, and other transaction costs deemed to be non-operating in nature |
|
(4) |
Other non-cash charges are costs related to non-cash charges and losses on the disposition of assets, non-cash charges on capitalized installation and delivery, which primarily includes the costs to acquire contracts that are expensed over the estimated life of each contract, and non-cash charges related to accretion of contract rights under development agreements |
|
(5) |
New jurisdiction and regulatory license costs relate primarily to one-time non-operating costs incurred to obtain new licenses and develop products for new jurisdictions |
|
(6) |
Legal and litigation expenses include payments to law firms and settlements for matters that are outside the normal course of business |
|
(7) |
Acquisition and integration costs include restructuring and severance and are related to costs incurred after the purchase of businesses, such as the acquisition of Rocket, to integrate operations |
|
(8) |
Non-cash stock-based compensation includes non-cash compensation expense related to grants of options, restricted stock, and other equity awards |
|
2017 |
2018 |
|||||||||
|
Q4 |
Q1 |
Q2 |
Q3 |
LTM |
||||||
|
Net loss (income) |
$ |
(8,520) |
$ |
(9,538) |
$ |
(5,310) |
$ |
4,347 |
$ |
(19,021) |
|
Income tax (benefit) expense |
(6,492) |
(12,436) |
7,027 |
(3,538) |
(15,439) |
|||||
|
Depreciation and amortization |
18,051 |
19,349 |
19,467 |
18,968 |
75,835 |
|||||
|
Other expense |
1,867 |
9,232 |
455 |
434 |
11,988 |
|||||
|
Interest income |
(28) |
(52) |
(21) |
(89) |
(190) |
|||||
|
Interest expense |
13,131 |
10,424 |
8,873 |
8,956 |
41,384 |
|||||
|
Write-downs and other(1) |
1,830 |
1,610 |
1,005 |
667 |
5,112 |
|||||
|
Loss on extinguishment and modification of debt(2) |
903 |
4,608 |
— |
— |
5,511 |
|||||
|
Other adjustments(3) |
823 |
396 |
929 |
893 |
3,041 |
|||||
|
Other non-cash charges(4) |
2,332 |
1,574 |
1,616 |
1,700 |
7,222 |
|||||
|
New jurisdictions and regulatory licensing costs(5) |
758 |
— |
— |
— |
758 |
|||||
|
Legal and litigation expenses including settlement payments(6) |
(243) |
— |
834 |
(45) |
546 |
|||||
|
Acquisitions and integration related costs including restructuring and severance(7) |
2,037 |
1,179 |
1,231 |
746 |
5,193 |
|||||
|
Non-cash stock based compensation(8) |
— |
8,153 |
476 |
538 |
9,167 |
|||||
|
Total Adjusted EBITDA |
$ |
26,449 |
$ |
34,499 |
36,582 |
33,577 |
131,107 |
|||
|
(1) |
Write-downs and other include items related to loss on disposal or impairment of long-lived assets, fair value adjustments to contingent consideration, and acquisition costs |
|
(2) |
Loss on extinguishment and modification of debt primarily relates to the refinancing of long-term debt, in which deferred loan costs and discounts related to old senior secured credit facilities were written off |
|
(3) |
Other adjustments are primarily composed of professional fees incurred for projects, corporate and public filing compliance, contract cancellation fees, and other transaction costs deemed to be non-operating in nature |
|
(4) |
Other non-cash charges are costs related to non-cash charges and losses on the disposition of assets, non-cash charges on capitalized installation and delivery, which primarily includes the costs to acquire contracts that are expensed over the estimated life of each contract, and non-cash charges related to accretion of contract rights under development agreements |
|
(5) |
New jurisdiction and regulatory license costs relates primarily to one-time non-operating costs incurred to obtain new licenses and develop products for new jurisdictions |
|
(6) |
Legal and litigation expenses include payments to law firms and settlements for matters that are outside the normal course of business |
|
(7) |
Acquisition and integration costs include restructuring and severance and are related to costs incurred after the purchase of businesses, such as the acquisitions of Rocket and AGS iGaming, to integrate operations |
|
(8) |
Non-cash stock-based compensation includes non-cash compensation expense related to grants of options, restricted stock, and other equity awards |
|
The following table presents a reconciliation of total net debt and total net debt leverage ratio: |
|||||
|
September 30 |
December 30 |
||||
|
2018 |
2017 |
||||
|
Total debt |
$ |
510,083 |
$ |
667,968 |
|
|
Less: Cash and cash equivalents |
33,227 |
19,242 |
|||
|
Total net debt |
476,856 |
648,726 |
|||
|
LTM Adjusted EBITDA |
131,107 |
106,841 |
|||
|
Total net debt leverage ratio |
3.6 |
6.1 |
|||
Source: AGS
Source: Latest News on European Gaming Media Network
At EvenBet Gaming, we see firsthand how the marketing landscape is changing. Insights from our iGaming Future 2026 report show that in 2025, success comes from connection, not noise.
As regulations tighten, acquisition costs rise, and audiences scatter across platforms, the brands that win are those that blend precision with personality. Today’s players and partners expect authenticity over aggression and storytelling over sales pitches. Campaigns are no longer about mass impressions but about micro-moments – tailored, data-driven interactions that feel personal, even at scale.
The winners listen first, analyze second, and act third – turning insight into engagement. In this landscape, connection is the foundation of sustainable growth.
The Split Game: B2B vs. B2C
In B2B, the battleground is trust. CEOs and decision-makers are drowning in noise – from events to endless newsletters. What cuts through? Case studies that show ROI, product demos that feel real, and personal networks built at ICE or SiGMA. Social media remains the undisputed king here: 49% of iGaming executives use it as their primary info source, followed by in-person networking and industry events. Long-form content still works – when it’s insightful, not promotional. To stand out in B2B marketing, brands should focus on:
- Building thought leadership through expert commentary and research-backed insights that prove credibility;
- Nurturing long-term relationships via community-led webinars, roundtables, and co-marketing projects that drive collaboration;
- Leveraging data storytelling – turning complex metrics into simple, visual narratives that help decision-makers act fast.
B2C, by contrast, is all about emotion and immediacy – but with a sharper distinction between markets and business models. The latest EvenBet Gaming Social Media Report shows that while short-form and community-driven content remains key, the dominance of platforms differs markedly. In Europe – LinkedIn leads the way as a professional and networking hub, reflecting a B2B-oriented focus on authority building, lead generation, and industry-specific engagement. In Asia – Facebook and Instagram dominate, highlighting a strategy centered on community connection, targeted advertising, and broad audience engagement, with Telegram also playing a significant role. For B2C operators – visual storytelling and entertainment-led platforms such as Instagram, Facebook, and TikTok continue to drive emotional engagement, while for B2B providers – LinkedIn holds an undisputed lead, supported by Instagram and Telegram as complementary channels. The formula, therefore, is not simply to be social-first, but to be strategically social – prioritizing community and visual impact in B2C, and credibility and professional engagement in B2B.
AI and Automation – The New Marketers
According to EvenBet’s iGaming Future 2026 report, AI has moved from buzzword to backbone – redefining how brands attract, convert, and retain players. Predictive analytics now segment audiences before login, while machine learning powers adaptive CRM systems that personalize offers and retention bonuses in real time. In marketing operations, AI delivers measurable impact through:
- Dynamic pricing and bonus optimization – adjusting rewards by player value and engagement;
- Content intelligence – automating localization and campaign creation, cutting production time by up to 60%;
- Ad fraud prevention – identifying fake traffic before it drains budgets;
- Predictive churn analysis – triggering personalized retention actions;
- Voice and visual recognition – tracking live reactions and sentiment to optimize creative on the fly.
In B2B, AI turns marketing from broadcast to conversation – analyzing partner behavior, flagging high-value leads, and automating follow-ups. The brands that master real-time data interpretation lead the race. In iGaming, AI doesn’t just predict behavior – it shapes it.
Social Channels – The Real Arena
Social platforms have evolved far beyond advertising spaces. They’ve become the central nervous system of iGaming marketing. In 2025, social media is a living ecosystem where customer acquisition, brand positioning, community building, and market research all merge. Every platform has its rhythm and audience psychology; successful brands know how to play them like instruments in the same orchestra.
Whether a B2B partnership or a B2C retention campaign, the rule is simple: go where your audience lives, speak their language, and deliver value before the pitch. How each key platform shapes the iGaming marketing mix? Read here.
LinkedIn – the B2B Heartbeat
This is where credibility is built and deals are born. For iGaming providers, affiliates, and tech companies, LinkedIn serves as the top channel for partnerships, thought leadership, and lead generation. Sharing industry insights, case studies, and event takeaways reinforces authority and keeps brands visible among decision-makers. Paid targeting tools also allow for pinpoint precision, ensuring that every ad or article reaches the right vertical – from operators to regulators.
YouTube & Twitch – Where Entertainment Meets Education
As highlighted in EvenBet’s iGaming Future 2026 report, streaming has become a key growth channel for iGaming brands. YouTube anchors long-form storytelling – developer insights, product demos, and CEO interviews that build credibility. According to the EvenBet Gaming Social Media Report, YouTube accounts for 14% in Europe and 15% in Asia, showing near-equal relevance across regions and reinforcing its universal value for both markets.
Twitch, mentioned in iGaming Future 2026 alongside YouTube Live and Kick, plays a pivotal role in real-time engagement – driving live gameplay, poker tournaments, and influencer collaborations that enhance transparency and community connection. While no percentage data is provided for Twitch, the report emphasizes streaming as a natural fit for gambling content and audience interaction.
Together, these platforms turn audiences into participants – transforming content from promotion into experience.
TikTok & Instagram – Short, Raw, and Honest
Authenticity wins here. These platforms thrive on short-form, story-driven content that prioritizes emotion over polish. According to the EvenBet Gaming Social Media Report (p. 58), Instagram ranks second in both regions – 22% in Europe and 20% in Asia – while TikTok shows stronger traction in Asia (9%) than in Europe (5%), underscoring its growing influence among younger, mobile-first audiences.
Behind-the-scenes clips, quick tips, and relatable humor consistently outperform corporate messaging. Interactive ad formats like reels and hashtag challenges help iGaming brands spark viral loops, amplify influencer reach, and turn curiosity into action.
In a mobile-first world, these platforms don’t just advertise – they convert. The brands that master them know one truth: social is the marketplace, the focus group, and the loyalty engine all at once.
Customer Access and Personalization
Today’s players expect the brand to recognize them before signing in. The data backs it up: operators using personalized onboarding see up to 37% higher retention. Hybrid campaigns – connecting online and live play – are rising fast. A push notification might lead to an app bonus, unlocking a live event seat. That seamless loop is where loyalty lives. For iGaming operators, personalization now stretches far beyond “Hello, [Name]”:
- Behavioral segmentation uses AI to analyze time-of-day habits, game preferences, and betting velocity – letting brands tailor every interaction, from welcome bonuses to tournament invites;
- Cross-channel identity mapping ensures players get a consistent experience across web, app, email, and live venues – no duplicate offers, no irrelevant messages;
- Progressive profiling builds player personas gradually through engagement, balancing data collection with trust. This creates a 360° view without overwhelming the user with long forms;
- Experience-based incentives are replacing static bonuses. For example, completing a “10-hand challenge” online could unlock real-world prizes or exclusive event tickets.
What Next?
As highlighted in EvenBet’s iGaming Future 2026 report, the next phase of iGaming marketing – especially in B2B – is built on access, insight, and shared growth. Partners no longer want to be sold to; they want to collaborate, learn, and co-create. Loyalty now comes from ecosystems of mutual value, not discounts or outreach volume. Next-gen B2B engagement revolves around:
- Micro-communities on Slack, Discord, or LinkedIn – invite-only spaces where suppliers, affiliates, and operators exchange insights and form strategic alliances;
- Account-based marketing (ABM) powered by AI – integrating CRM and social data to tailor outreach, improving conversion rates by up to 50%;
- Virtual demos and co-branded webinars – frictionless entry points for collaboration that combine live interaction with analytics-driven follow-up;
- Shared data dashboards – transparency as the new trust currency, providing partners with real-time access to KPIs and campaign metrics.
In both B2C and B2B, the rule holds: the closer you get to your audience or partner, the harder it is for them to leave.
Innovation: Beyond Buzzwords
Gamification has become the universal language of engagement – missions, badges, leaderboards, loyalty loops. AI adds the adaptive layer; players evolve in real time. This same logic applies in marketing: adaptive storytelling that shifts with user behavior. The future? Predictive personalization. The line between “targeting” and “understanding” is getting thinner, and the best marketers are crossing it first. The new generation of gamified marketing goes beyond points and badges – it builds ecosystems of continuous engagement:
| Category | Tool / Mechanism | Description & Benefits |
| B2C (Players) | Dynamic Missions | AI-driven missions that adapt to player behavior in real time – e.g., switching from “daily spins” to “multi-table hands” based on user habits. Keeps engagement personal and relevant. |
| Reward Tiers & Progression Paths | Data-driven systems that reward consistency, not just spend. Players advance through experience-based milestones, improving long-term retention. | |
| Social Competition | Leaderboards, team missions, and community milestones create peer motivation. Increases engagement by up to 40% vs. solo play. | |
| Narrative Gamification | Marketing campaigns unfold as storylines – every message or promo feels like a new chapter in the player’s journey. Builds emotional attachment. | |
| AR & VR Integration | Combines real-world activity (QR scans, event participation) with digital rewards, creating immersive cross-channel brand experiences. | |
| Predictive Personalization | AI anticipates player mood and intent, adapting visuals, tone, and offers before behavior shifts. Moves from reactive to proactive marketing. | |
| B2B (Partners) | Partner Scoreboards | Tracks campaign performance – traffic, conversion, retention. Encourages friendly competition and higher partner productivity. |
| Gamified Learning Platforms | Turns product training and onboarding into missions, quizzes, and leaderboards. Boosts learning retention and team motivation. | |
| Incentive Ecosystems | Partners earn tiered rewards – access to beta tools, co-marketing funds, or exclusive insights – based on measurable performance metrics. | |
| Community Challenges | Affiliates or resellers compete in group KPIs (e.g., “Top Q3 Converters”). Builds engagement and shared achievement culture. | |
| AI Engagement Analytics | AI monitors partner engagement levels, offering personalized feedback, goal suggestions, and reward triggers automatically. |
Ultimately, gamification in iGaming marketing has shifted from “adding fun” to engineering motivation. It’s about designing systems where engagement becomes the most natural move. When rewards, progress, and storytelling align seamlessly with user behavior, participation stops feeling like marketing and starts feeling like entertainment. The brands that master this balance turn every interaction into a self-sustaining loop of curiosity, reward, and loyalty – where players don’t just play the game, they live inside it.
Final Hand
In 2025, iGaming marketing is a blend of human intuition and machine precision. The era of mass messaging is over – success now means balancing data with emotion and automation with authenticity. In B2B, growth comes from trust, transparency, and measurable ROI rather than lead volume. In B2C, players expect instant personalization, dynamic engagement, and brands that speak their language – making AI-driven personalization and social-first storytelling essentials, not extras.
The strongest brands will merge both worlds, using AI to amplify empathy and data to sharpen creativity. In a market flooded with content, relevance is survival – and trust is the true currency of differentiation.
Reading Time: < 1 minute
This Halloween season, GR8 Tech dares the iGaming world to face its darkest fears. The company has launched an interactive campaign titled “What Scares Operators Most?”, inviting operators to explore the challenges that haunt their daily operations—and to discover how the right solution can turn those fears into fuel for growth.
The mysterious, immersive journey highlights iGaming’s most chilling pain points, and each revealed fear leads to actionable insights and practical solutions, guiding operators toward the tools and strategies that keep their businesses bulletproof, no matter what monsters lurk in the data.
“Fear is a powerful teacher,” said Yevhen Krazhan, CSO at GR8 Tech. “Every operator faces moments that test their systems and their strategy. Our Halloween campaign acknowledges those fears and shows that with the right partner, they’re entirely conquerable.”
On the GR8 Tech website, visitors can flip cards, uncover their personalized iGaming “fear,” access GR8 Tech’s expert take on how to overcome it, and view materials that discuss the problem in more detail. They can also share their results or book a meeting to discuss real-world solutions.
Operators brave enough to fight their fears are encouraged to continue the conversation in person at SiGMA Central Europe 2025, Booth 5028. Because in the world of iGaming, even the scariest nightmares can turn into winning stories.
The post GR8 Tech Challenges Operators to Face Their Fears This Halloween appeared first on European Gaming Industry News.
Reading Time: 5 minutes
Here are this weeks latest slots releases compiled by European Gaming
Relax Gaming is opening the hatch to Frank’s Diner, an apocalyptic slot where Split Symbols, reel multipliers, and Gold Wild re-spins deliver the potential for sizzling wins. Split Symbols take centre stage, with two or three identical single symbols landing on the same reel, forming double or triple stacks that immediately multiply the number of ways to win.
BC.GAME has released Tim & Larry, a new in-house developed slot combining traditional video slot mechanics with a cartoon-inspired theme centered around a kitchen standoff between a cat and a mouse. The game features high volatility, a theoretical RTP of 96.91%, and a capped maximum payout of 15,000× the base bet.
Inspired Entertainment, Inc., is excited to announce the launch of Werewolf It Up! featuring Cash Bank and Zeus Legends of Olympus featuring Triple Hit Combo across the UK and Malta iGaming markets. Packed with captivating visuals and engaging gameplay, this online and mobile slot duo is designed to deliver strong results for operators and offers the best in iGaming entertainment for players.
TaDa Gaming invites players to spin for royal rewards in Crown of Fortune, a vibrant 5×3 slot featuring expanding Wilds, locking respins and dazzling payout potential of up to 1000x the bet. Blending nostalgic fruit slot charm with polished, modern mechanics, Crown of Fortune captures the timeless allure of classic gameplay—enhanced by Wild-driven action.
SlotMatrix has launched its latest exclusive title, Aphrodite’s Fortune, an enchanting slot that invites players into the goddess’s golden garden of love and wealth. Set among the clouds of Mount Olympus, Aphrodite’s Fortune celebrates beauty, fortune, and celestial power in a stunning 10,000-ways-to-win format.
Have you got what it takes to take on the Prize Ladder and come out on top? That’s the question players must answer before taking on the latest classic slot title from in-demand content house, Northern Lights Gaming. Bright lights and big wins are the order of the day in Prize Ladder, a game-show style blockbuster that promises twists and turns from the very first game round to the last.
Gaming Corps is preparing to enchant players this October with the launch of its latest slot, 3 Pots of Potions. Arriving just ahead of Halloween, the high-volatility release combines imaginative design with feature-rich gameplay and the potential to conjure wins of up to 10,000x the stake.
Get ready for a spine-tingling splash with Fish Tales: Halloween from Booming Games! This spooky twist on the beloved Fish Tales: Monster Bass takes you to a haunted underwater world where ghoulish fish and creepy cash prizes await. The beloved spook-tacular mechanics remain intact, but with an eerie makeover—fog-drenched waters, zombified fish, and a fang-tastic new design.
Evoplay has released Young Buffalo Coins, the second instalment in its popular Young Buffalo series. Following the success of the original title, the new game takes players back to the wild prairies for another action-packed adventure, combining fast-paced gameplay, sticky coins, and big jackpot opportunities.
Online casino operators can give their players the fright of their lives with Midnight Queen, the latest slot launch from in-demand iGaming content provider, ICONIC21. Midnight Queen is a Vampire-themed slot that’s perfect for entertaining players during the Halloween season and beyond.
TaDa Gaming has returned to the savannah with intriguing new release Golden Explorer. A rich trove of multiplier gemstones sparkling with additional random multiplier bonuses can burst on to the screen, enhancing the win potential and delivering vivid and exciting gameplay for 96.99% and a max win of 30,000x.
To celebrate the launch of Reactoonz 100, Play’n GO’s iconic slot character Garga reached a max altitude of 37,753 metres (117,300 ft) in a two-hour flight to set a world record and become the first slot character ever in space. Play’n GO, the world’s leading casino entertainment provider, has today announced that one of the most iconic characters in slots, Garga, has set a world record by becoming the first slot character in space.
Tom Horn Gaming is expanding its portfolio with the release of 243 Zeus Fruits, a slot that combines two proven player favourites – fruit slots and Greek mythology. The game delivers short feature cycles, multipliers, and higher stakes through the supplier’s QuickX mechanic.
Amusnet invites players into a realm of mystery and midnight thrills with Vampire Dice, its latest Online Casino portfolio addition. This captivating dice-themed game combines gothic elegance, thrilling features and an immersive atmosphere where every roll reveals secrets of the night.
SlotMatrix has embraced the Halloween spirit with its latest exclusive release, Ghost Pigger. Combining high energy rhythm and rewarding gameplay in a disco-fuelled haunted house, Ghost Pigger makes for a truly unique slot experience. The 96.09% RTP, medium volatility, and maximum win potential of up to 13,712x keep the players engaged.
The post Week 43/2025 slot games releases appeared first on European Gaming Industry News.
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