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Mohegan Gaming’s net revenue decreases for previous quarter

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2-4 Mohegan Gaming’s net revenue decreases for previous quarterReading Time: 1 minute

 

Mohegan Gaming & Entertainment has published its financial results for the fiscal quarter that ended on 31 December 2018. The company’s net revenue and EBITDA decreased during the period.

The net revenue during the period is US$319.5 million, a 3.6 per cent decrease from the US$331.5 million in the last year. Income from operations dipped by 21.2 per cent to US$43.4 million, around US$12 million less than what was registered in the same period a year before. Adjusted EBITDA was US$71.9 million, a 5.4 per cent slide.

Consolidated net revenues declined modestly during the quarter, driven by slightly lower gaming revenues at Mohegan Sun and Mohegan Sun Pocono, and continued increases in promotional activities in the Mohegan Sun Pocono gaming market. These factors, combined with higher slot taxes assessed by the Commonwealth of Pennsylvania and increased healthcare costs, all contributed to the year-over-year decline in Adjusted EBITDA, explained the company.

“While consolidated first quarter revenues and Adjusted EBITDA were modestly below prior year results, we remain encouraged, as overall gaming volumes at our flagship property, Mohegan Sun, were better than expected following the first full quarter of increased competition in the Northeast gaming market.” stated Mario Kontomerkos, President & Chief Executive Officer of MGE.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mohegan Gaming’s net revenue decreases for previous quarter

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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Play’n GO Continue to Thrive Under Swedish Re-Regulation

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sweden Play’n GO Continue to Thrive Under Swedish Re-RegulationReading Time: 2 minutes

 

Premier supplier Play’n GO revealed today the news that they have gone live with yet another operating partner in the Swedish region.

 

This is the latest step in Play’n GO’s expansion in the country following re-regulation in January.

The slot supplier has wasted no time in making the most of the opportunities that Sweden now presents. Deals with several partners means Play’n GO are now live with a significant number of operators that have applied for, and received, a Swedish licence, all in the space of three months.

The move is yet another reflection of the company’s dedication to compliance and to being the supplier of choice for regulated markets, a fact reflected by their recent nominations at this year’s GamblingCompliance Global Regulatory Awards.

Magnus Olsson, Head of Sales and Account Management spoke on the significance of regulated markets and this latest expansion:

“This is home turf for us, so we are proud to be part of this landmark development. We worked hard, as we always do, to make sure we were in a position to maximise on the opportunity this re-regulation would afford our partners and us.

We have put a lot of energy into making sure our standing in matters of compliance is nothing short of first rate. Regulated markets are the future for online gambling, and we embrace that future.”

For more information about Play’n GO, their offices, or their products and services, please visit http://www.playngo.com or contact sales@playngo.com.

 

Founded in 2005, Play’n GO are a leading supplier for slot gaming in the casino industry. One of the first suppliers to recognise and utilise the potential of mobile slot gaming, their innovation has revolutionised the industry and led Play’n GO to the forefront of the casino supplier market. Since its inception Play’n GO have curated a portfolio of award-winning games developed and tailored for compatibility with all devices and operating systems. In addition to this, they also provide back-end services and solutions to ensure operators are equipped to provide the ultimate gaming experience; this includes their casino platform and their server-based gaming solution, OMNY.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Play’n GO Continue to Thrive Under Swedish Re-Regulation

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Raketech expands its online sports listing services into Finland via acquisition of TVmatsit.com

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raketech-finland Raketech expands its online sports listing services into Finland via acquisition of TVmatsit.comReading Time: 2 minutes

 

Raketech, a leading online affiliate and content marketing company, continues to expand its offering of online sports TV listing platforms by acquiring Finland’s leading sports listing website TVmatsit.com.

 

TVmatsit.com is a product that has clear synergies with Raketech’s existing family of online media guide websites and mobile apps. TVmatsit.com is a highly popular platform that generates traffic organically by delivering a complete guide to sports broadcasting in Finland and through a successful media buying strategy. The founders of TVmatsit.com will continue to run the product post-acquisition, and also integrate successful aspects of the platform and media strategy across Raketech’s key markets.

Michael Holmberg, CEO of Raketech, said: “We are pleased to acquire TVmatsit.com, a product which complements our existing range of online sports listing platforms. The acquisition is in line with our strategy to offer all product categories in Raketech’s key markets, and until now we have lacked a guide product in Finland. We look forward to working with the TVmatsit team to further optimise the product with our content and SEO expertise, and also replicate their successful media buying strategy in other markets.”

The acquisition was secured at a multiple of 5.2x EBITDA. The purchase price amounts to EUR 1.6 million, with an additional EUR 0.3 million paid over the next 24 months pending agreed-upon performance targets.

With the acquisition of TVmatsit.com, Raketech increases its online sports media offering, which currently includes TVmatchen.nu (Sweden), TVsportguide.com (UK), TVsporten.dk(Denmark), TVsportguide.de (Germany), TVkampen.com (Norway) and Esportsguide.com (Global).

 

About Raketech Group:

Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser (certifiedadviser@penser.se / +46 8 463 83 00). For more information, visit www.raketech.com.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Raketech expands its online sports listing services into Finland via acquisition of TVmatsit.com

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Austria in focus with Julia Kotanko (Associate with Dr. Christian Rapani) at MARE BALTICUM Gaming Summit 2019

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Julia-Kotanko-Announcements-Mare-Balticum-2019 Austria in focus with Julia Kotanko (Associate with Dr. Christian Rapani) at MARE BALTICUM Gaming Summit 2019Reading Time: 2 minutes

 

Austria may be the home of the biggest gaming machine producer in the world, but it is also the home of the most un-attractive gaming regulation in Europe. There have been many talks around the regulation in Austria and many court decision are yet to be announced, that could set a precedent in order to create a much better climate for the gaming industry.

During the second edition of MARE BALTICUM Gaming Summit, also known as the Baltic and Scandinavian Gaming Summit and Awards, Julia Kotanko (Associate with Dr. Christian Rapani), will take part in the “Gambling industry updates from the D-A-CH region” compliance panel discussion and present new highlights from the Austrian gambling industry.

MARE BALTICUM Gaming Summit will take place on the 9th of May at Radisson Blu Royal Astorija Hotel and is gathering the gambling industry from the Baltic and Scandinavian regions for a full day of quality learning and networking with like-minded peers, regulators and representatives of the industry media.

Register here or View the Agenda!

About Julia Kotanko

Julia-Kotanko-Carusel-Mare-Balticum-2019 Austria in focus with Julia Kotanko (Associate with Dr. Christian Rapani) at MARE BALTICUM Gaming Summit 2019Julia Kotanko has completed her law degree at the Karl-Franzens University in Graz. After graduation she became an associate at an esteemed law firm in Graz where she focused on terrestrial offerings of games of chance in Austria. Since the beginning of 2018 she is a senior legal associate with the law firm of Dr. Christian Rapani, where she has made the move to online gaming offerings. She is continuing her academic career by writing a doctoral thesis at the Vienna University of Economics and Business on the topic of online sports betting.

Make sure you take advantage of this unique opportunity of learning and networking with the gambling industry in the Baltic and Scandinavian region via the MARE BALTICUM Gaming platform which has been launched in 2018 and is committed to bringing together industry shareholders and government officials from the Baltic and Scandinavian region on a yearly base.

Browse the official event website here: www.marebalticumgaming.com


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Austria in focus with Julia Kotanko (Associate with Dr. Christian Rapani) at MARE BALTICUM Gaming Summit 2019

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