Latest News
CEO claims Paddy Power Betfair is “well positioned” in USA
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
PopOK Gaming is thrilled to announce the release of its newest slot game, Spinosaurus – a captivating 3×5 slot that transports players back to the thrilling age of dinosaurs!
With vibrant, colorful visuals and dynamic gameplay, Spinosaurus features the iconic, mighty dinosaur as your guide on an adventurous quest for massive wins. Players can immerse themselves in prehistoric excitement while aiming for incredible rewards.
Key Features:
In the Bonus Game, players encounter the fierce Spinosaurus, spinning for multipliers, free spins, and other exciting rewards. For those eager to jump straight into the action, the Buy Bonus feature lets players skip right into the heart of the adventure for even more fun and potential rewards.
Whether chasing big wins or exploring the ancient world of dinosaurs, Spinosaurus offers a truly wild and exhilarating gaming experience.
Game Overview:
- Provider: PopOK Gaming
- Game Name: Spinosaurus
- Game ID: 134
- Category: Video Slot
- RTP: 96.20%
- Hit Frequency: 37.72%
- Max Win: 2,500x total bet
- Volatility: Medium
- Min/Max Bets: 0.02/100 EUR
- Release Date: October 18, 2024
Dive into the prehistoric era and experience the thrill of Spinosaurus today! Visit popokgaming.com to learn more or contact your PopOK Gaming account manager to add this exciting new game to your platform.
The post Spinosaurus – The Thrilling New Slot Game from PopOK Gaming appeared first on European Gaming Industry News.
Evoplay, the award-winning game development studio, has taken its content live with Domusbet, further strengthening its presence in the Italian market.
The integration features 32 of Evoplay’s premium slot titles, including Budai Reels Bonus Buy, Hot Volcano, and The Greatest Catch Bonus Buy that have proven popular with local players.
Renowned for its innovative approach, Evoplay’s titles aim to enhance player retention and engagement, providing a distinct competitive advantage to operator partners in the Italian market.
Domusbet offers a premium online casino in Italy and with a growing customer base, the collaboration sees Evoplay reach a new audience in the country where it has been live for several years.
The partnership reaffirms Evoplay’s commitment to becoming a leading supplier to the global iGaming industry and follows a number of prominent commercial deals that have seen the studio expand its reach in key markets.
Ihor Zarechnyi, CBDO at Evoplay, said: “Partnering with Domusbet is an exciting opportunity for Evoplay as we expand in Italy.
“Domusbet shares our commitment to quality and player satisfaction, making this a natural fit. We’re delighted to bring our games to a new audience and look forward to a successful collaboration.”
Francesco Di Paola, President of Domusbet, added: “We are excited to bring Evoplay’s cutting-edge games to our online casino.
“This collaboration reflects Domusbet’s commitment to providing our players with top-quality entertainment and an innovative gaming experience. With Evoplay’s popular titles now available, we’re confident our players will find a new level of engagement and excitement on Domusbet.”
The post Evoplay expands Italian footprint through strategic partnership with Domusbet appeared first on European Gaming Industry News.
Bookmaker Betfred have launched a brand-new studio and live presenters for their exclusive numbers game ‘Nifty 50.’
The ‘Nifty 50’ is a fixed odds numbers game featuring five live draws a day with a jackpot of 5 million pounds for every draw.
The exclusive product now has a new hi-tech purpose-built studio at their head office in Birchwood, Warrington. The new studio is part of a major refurbishment project at Betfred’s headquarters.
Plus, for the relaunch Betfred have employed two new presenters Joshua Littlehales and Grace Constantinou.
Joshua Littlehales who has worked for Tameside Radio and LADbible said, “The new studio looks amazing, and I feel impressed each time I step inside. I feel excited to call it my professional home.”
Grace Constantinou who is a Media and Performance graduate from Salford University added, “I saw the studio when it was dust and walls and now to see it completed its very impressive.”
Betfred boss Fred Done said, “The whole idea behind Nifty 50 is for customers to win big for small stakes, and to now promote it with a purpose-built studio and live presenters I am delighted.”
Betfred commissioned Paul Sudlow to be the production designer, he came in with a wealth of experience having recently worked on ITV’s Euro 2024 studio in Berlin and the Rugby Union World Cup in 2023.
The screens and lights were provided by Whitelight based in Wimbledon while Monkey Scene provided the set construction.
The exclusive Nifty Fifty draw can be viewed five times a day in Betfred’s shops, online and at youtube with BetfredLotto.
The post BETFRED LAUNCH NEW STUDIO AND LIVE PRESENTERS FOR EXCLUSIVE NUMBERS GAME appeared first on European Gaming Industry News.
Spinosaurus – The Thrilling New Slot Game from PopOK Gaming
Evoplay expands Italian footprint through strategic partnership with Domusbet
BETFRED LAUNCH NEW STUDIO AND LIVE PRESENTERS FOR EXCLUSIVE NUMBERS GAME
Play’n GO announces New Jersey partnership with leading operator Hard Rock Digital
Atlaslive Partners with Oddin.gg to Elevate Esports Betting in LATAM, Offering 24/7 Betting Markets and Cutting-Edge Odds Feed
Tom Horn Takes Players on a Hold & Win Adventure in Max Gold. Exploring the Unknown
Spinomenal strengthens Demi Gods series with Book of Demi Gods VI title
NE Group’s Defender crash-game launches with Betika
PG Soft set to sponsor SiGMA Europe
VBET Partners with Mindway Al to Enhance Responsible Gaming and Player Protection
-
Latest News2 months agoBlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
-
Latest News2 months ago
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
-
Latest News2 months agoEGT’s bestseller Bell Link with another great success: Its bells are now ringing in the Czech market
-
Latest News4 weeks ago
MIRACL partners with Continent 8 to offer its single-step passwordless MFA solution to simplify the login experience
-
Latest News2 months ago
Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE
-
Latest News4 weeks agoACR Poker’s OSS XL Exceeds Guarantee With Over $46 Million In Prize Pools
-
Latest News4 weeks agoMatch of LeGGends: Double Down. Highlights of the show match between NAVI and Team Vitality
-
Latest News4 weeks ago
FBMDS and FBM Foundation host solidarity keepy-uppy initiative at G2E Las Vegas 2024
You must be logged in to post a comment Login