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Canada Cup develops cryptocurrency

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Canada Cup, an eSports company in Canada, is all set to launch its own cryptocurrency, called the eSports ecosystem token.

Launched 8 years ago, Canada Cup has been conducting eSports tournaments for various fighting games. It has earned a reputation as the premier fighting game tournament company in the country. For instance, Motherboard describes it has  “the largest and most prestigious fighting game tournament” in Canada.

The company wants to remove whatever roadblocks that prevent further growth of eGames. That is how it developed the eSports ecosystem token.

eSports ecosystem (ESE) is a digital currency that aims to become the standard cryptocurrency for all eSports. The aim is to empower all gamers by creating a digital eSports currency which will provide a medium to transfer value, compliment the current fiat payout structure, and reward both professional and casual players.

Support for the ecosystem is primarily achieved with funds from a community wallet that represents 17 per cent of the initial supply of ESE tokens that is dedicated to giving back to the eSports ecosystem by adding to prize pools, sponsoring players & teams, donating to charities and gaming scholarships, and fund advertisements to bring awareness and growth to eSports.

The ESE token is intended to solve problems faced by the gaming community by:

Complimenting fiat payouts by adding ESE tokens from the community wallet which would increase the value of the total prize pool to support professional gamers financially and make it easier to transition into a gaming career;

Broadening payout structures to allow more players to reap rewards from tournaments – rewards are no longer limited to the top echelon of players, but can be extended to casual players due to an increased prize pool;

Encouraging tournament organisers to continue hosting events by supporting these events financially with ESE tokens from the community wallet to ensure that these events are sustainable.

To provide additional financial support for gamers and the gaming community, holders of ESE tokens will also passively earn additional ESE tokens through a “staking rewards” system, providing an additional source of income for gamers and organisers to fund their passions. On top of the staking rewards, an ESE Loyalty Nodes programme designed to further reward loyal holders and stabilise the ESE token awards additional bonus percentages on top of the existing passive rewards for holders who continue to hold and accumulate ESE tokens.

 

Source: cryptovest.com


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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Wizard Games embarks on a spellbinding adventure in Wynmor’s Tales – The Rise

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Wizard Games is ready to deliver magic and mystery in its enchanted new release, Wynmor’s Tales – The Rise.

Players are faced with a 5×4 matrix, situated within an eerie mansion, looking to land mystic items across the slots 40 paylines.

If a spellbook lands on the fifth reel, then all Cash Symbols are collected, paying out magical rewards.

The Orb Treasures Feature ensures cash symbols that land are added to the collect meter if there is no spellbook present. If it fills up, then it can award prizes of up to 2,500x.

When three castle-themed scatter symbols land, the Lock N Spin bonus is triggered. Players are then given three respins where only cash symbols can land. If an entire reel is filled with symbols, then the scroll multiplier atop the reels is awarded.

Wynmor’s Tales – The Rise is designed as the first episode in a sequence of interconnected stories, showcasing Wizard Games’ dedication to expanding its varied gaming repertoire. It joins recent releases such as Surtr’s Fury and Chicken Burst. The provider’s diverse collection of titles now exceeds 150 titles and continues to expand.

Megan Easey, Director of Operations at Wizard Games, said: “Our latest release, Wynmor’s Tales – The Rise, promises magical wins cast through the innovative Cash Collect and Orb Treasures Feature as well as the Lock N Spin Bonus.

“We’re confident that players will love the immersive world of this title and hope it will appeal to a new demographic of players that can be captivated by the mechanics and the graphically advanced nature of our portfolio of content.”

Abhishek Singh, Game Producer at Wizard Games, said: “As well as the stunning visuals and adventurous spirit, the first slot of our latest series is extra special as it includes the face of our brand mascot– Wynmor!

“The sorcerer reflects Wizard Game’s enthralling offering and Wynmor’s Tales – The Rise treats players to an unforgettable experience that will have them on the edge of their seat for every spin.”

The post Wizard Games embarks on a spellbinding adventure in Wynmor’s Tales – The Rise appeared first on European Gaming Industry News.

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Raketech Announces Q1 2024 Results

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Raketech has announced its Q1 2024 financial results.

Q1 2024 Financial Highlights

  • Revenues in Q1 of 2024 totaled EUR 19.0 million (EUR 15.8 million), reflecting an organic growth increase of 20.1% (24.4%), driven by continued strong performance from sub-affiliation partially offset by weaker-than-expected results within affiliation marketing.
  • EBITDA, adjusted for restructuring costs, was EUR 5.1 million (EUR 6.1 million), impacted by a weaker performance in Sweden compared to the previous year and soft performance of the Casumba assets following the Google Core update during the quarter. Other regions and products performed well, with sub-affiliation delivering a strong quarter in terms of EBITDA contribution.
  • Operating profit, adjusted for costs related to re-structuring, amounted to EUR 2.0 million (EUR 3.8 million).
  • Free cash flow before earnouts increased to EUR 6.5 million (EUR 5.6 million) with a positive working capital development from trade receivables.
  • Earnouts settled during the quarter amounted to EUR 13.0 million.

Full-Year Outlook

Current trading, including April, implies an adjusted EBITDA of around EUR 20.0 million for the full year. Free cash flow before earnouts for the full year is estimated to come in just below adjusted EBITDA.

Subsequent Events After the End of the Period

On May 14, 2024, the board decided to withdraw its previously announced proposal to distribute dividends in 2024, in line with its commitment to maintaining financial flexibility and supporting the company’s long term growth ambitions. The primary focus is delivering value to shareholders and continuing to evaluate opportunities to enhance shareholder returns in a way that aligns with the Company’s long-term value-creation objectives.

Current Trading

Revenues in April 2024 amounted to EUR 5.9 million (EUR 5.9 million).

Raketech Acting CEO Johan Svensson said: “In the first quarter of 2024, we delivered EUR 19.0 million in revenues, representing an organic increase of 20.1%, primarily driven by Sub-affiliation. Adjusted EBITDA came in at EUR 5.1 million, while EBITDA was EUR 4.3 million, consistent with our trading update published on 1 May. We remain confident in our market-leading product offerings and see promising growth opportunities through our strategic initiatives in sports offerings, exclusive partnerships, and media deals. These efforts will position us well for continued growth in the coming years, and we remain committed to maximizing shareholder value.”

The post Raketech Announces Q1 2024 Results appeared first on European Gaming Industry News.

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IGT Reports First Quarter 2024 Results

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International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.

“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.

Key Highlights:

  • Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
  • Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
  • Received a supply contract extension from the UK National Lottery
  • Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
  • Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
  • Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
  • Launched iGaming content in Rhode Island
  • Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.

“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.

The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.

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