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500.com Limited Announces Unaudited Financial Results For the Fourth Quarter and Full Year ended December 31, 2018
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500.com Limited (NYSE: WBAI) (“500.com” or the “Company”), a leading online sports lottery service provider in China, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2018.
Physical Sales Channels of Sports Lottery Tickets
On March 6, 2018, the Company entered into a framework agreement with the China Sports Lottery Administration Center (“CSLA”), under which, both parties plan to cooperate to develop physical channels to sell sports lottery tickets.
As of the reporting date, the Company has entered into framework agreements with Tianjin, Hunan and several other provinces and cities in China, assisted in developing physical sales channels of sports lottery tickets and started trial operations in Tianjin, Hunan, Hubei, Guangxi and several other provinces and cities in China. The Company is committed to assisting sports lottery sales organizations throughout the country to improve the distribution of physical sales channel outlets, in order to enhance the convenience of sports lottery ticket purchases and optimize the user experience for lottery purchasers.
Suspension of Online Sports Lottery Sales in China
All provincial sports lottery administration centers to which the Company provided sports lottery sales services have suspended accepting online purchase orders for lottery products in response to the Notice related to Self-Inspection and Self-Remedy of Unauthorized Online Lottery Sales, (the “Self-Inspection Notice”), which was jointly promulgated by the Ministry of Finance, the Ministry of Civil Affairs and the General Administration of Sports of the People’s Republic of China on January 15, 2015. In response to the Self-Inspection Notice, on April 4, 2015, the Company decided to voluntarily suspend all online lottery sales services. As a result of the provincial sport lottery administration centers’ decision to suspend accepting online lottery orders and the Company’s voluntary suspension of all online sports lottery sales services in China, the Company has not generated any revenue from these services since April 2015.
Other Recent Material Transaction
On February 9, 2018, the Company disposed of its 51% equity interest in Qufan Internet Technology Inc., and Shenzhen Qufan Network Technology Co., Ltd, (“Qufan”), an operator of mobile social poker games, which was acquired on November 25, 2016. The Company’s consolidated statements of comprehensive loss for the fourth quarters and full years ended December 31, 2018 and December 31, 2017 have been reclassified to reflect the Qufan business segment as a discontinued operation.
Fourth Quarter 2018 Highlights for Continuing Operations
- Net revenues were RMB27.2 million (US$4.0 million), compared with RMB30.1 million for the third quarter 2018, and RMB35.6 million for the fourth quarter of 2017.
- Operating loss was RMB245.2 million (US$35.7 million), compared with operating loss of RMB100.3 million for the third quarter of 2018, and operating loss of RMB142.8 million for the fourth quarter of 2017.
- Non-GAAP[1] operating loss was RMB220.0 million (US$32.0 million), compared with non-GAAP operating loss of RMB57.6 million for the third quarter of 2018, and non-GAAP operating loss of RMB119.6 million for the fourth quarter of 2017.
- Net loss attributable to 500.com was RMB247.7 million (US$36.0 million), compared with net loss attributable to 500.com of RMB96.5 million for the third quarter of 2018, and net loss attributable to 500.com of RMB127.1 million for the fourth quarter of 2017.
- Non-GAAP net loss attributable to 500.com was RMB222.5 million (US$32.4 million), compared with non-GAAP net loss attributable to 500.com of RMB53.8 million for the third quarter of 2018, and non-GAAP net loss attributable to 500.com of RMB103.9 million for the fourth quarter of 2017.
- Basic and diluted losses per ADS were RMB6.05 (US$0.88).
- Non-GAAP basic and diluted losses per ADS were RMB5.50 (US$0.80).
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[1] Non-GAAP financial measures exclude the impact of share-based compensation expenses. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in the table at the end of this release. |
Full Year 2018 Highlights for Continuing Operations
- Net revenues were RMB126.1 million (US$18.3 million), compared with net revenues of RMB72.6 million for the full year 2017.
- Operating loss was RMB494.4 million (US$71.9 million), compared with operating loss of RMB367.3 million for the full year 2017.
- Non-GAAP operating loss was RMB385.8 million (US$56.1 million), compared with non-GAAP operating loss of RMB276.2 million for the full year 2017.
- Net loss attributable to 500.com was RMB453.9 million (US$66.0 million), compared with net loss attributable to 500.com of RMB332.4 million for the full year 2017.
- Non-GAAP net loss attributable to 500.com was RMB345.2 million (US$50.2 million), compared with non-GAAP net loss attributable to 500.com of RMB241.3 million for the full year 2017.
- Basic and diluted losses per ADS were RMB11.30 (US$1.64).
- Non-GAAP basic and diluted losses per ADS were RMB8.50 (US$1.20).
Mr. Zhengming Pan, the CEO of 500.com, stated, “Since we voluntarily suspended our online lottery sales operations in April 2015, we have continued to engage in new and promising initiatives to increase our revenue base. For example, we acquired TMG in July 2017, and this acquisition has significantly increased our revenue. In addition, in March 2018, we entered into a framework agreement with CSLA, under which, both parties plan to cooperate to develop physical channels to sell sports lottery tickets. In that regard, we have entered into framework agreements with Tianjin, Hunan and several other provinces and cities in China, to assist them in developing physical sales channels of sports lottery tickets. We also have started trial operations in Tianjin, Hunan, Hubei, Guangxi and several other provinces and cities in China. We will continue to look for opportunities to enhance value for our shareholders.”
Fourth Quarter 2018 Financial Results for Continuing Operations
Net Revenues
The Company has assessed the impact of the ASC 606 guidance at the beginning of 2018 by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of Topic 606 and therefore there were no material changes to the Company’s consolidated financial statements upon adoption of ASC 606.
Net revenues were RMB27.2 million (US$4.0 million) for the fourth quarter of 2018, representing a decrease of RMB8.4 million or 23.6% from RMB35.6 million for the fourth quarter of 2017 and a decrease of RMB2.9 million or 9.6% from RMB30.1 million for the third quarter of 2018. Net revenues during the fourth quarter of 2018 consisted primarily of RMB22.3 million (EUR2.8 million) in revenue contribution from the Company’s online lottery betting and online casino in Europe through TMG, which accounted for 82.0% of total net revenues.
Operating Expenses
Operating expenses were RMB273.5 million (US$39.8 million) for the fourth quarter of 2018, representing an increase of RMB123.1 million or 81.8% from RMB150.4 million for the fourth quarter of 2017, and an increase of RMB137.8 million or 101.5% from RMB135.7 million for the third quarter of 2018. The year-over-year increase was mainly due to an impairment provision of RMB149.9 million provided for the Company’s long-term investment during the fourth quarter of 2018, compared with an impairment provision of RMB28.8 million provided for long-term investment for the same period of 2017; an increase of RMB4.7 million in depreciation and amortization mainly associated with the leasehold improvements for the Company’s new offices which were put into use at the end of 2017; an increase of RMB2.0 million in share-based compensation expenses associated with share options granted to the Company’s employees; an increase of RMB1.3 million in platform service costs for TMG associated with its online casino operations; and an increase of RMB0.8 million in lottery insurance costs for TMG associated with its online lottery operations; which were partially offset by a decrease of RMB5.7 million in marketing and promotional expenses relating to mobile gaming. The sequential increase was mainly due to an impairment provision of RMB149.9 million provided for long-term investment during the fourth quarter of 2018; an increase of RMB7.1 million in expenses for employees; an increase of RMB1.1 million in travelling and related expenses; an increase of RMB0.9 million in lottery insurance costs for TMG associated with its online lottery operations; an increase of RMB0.6 million in platform service costs for TMG associated with its online casino operations, which were partially offset by a decrease of RMB17.5 million in share-based compensation expenses associated with share options granted to the Company’s employees and a decrease of RMB4.9 million in marketing and promotional expenses relating to advertising during the World Cup.
Cost of services was RMB20.6 million (US$3.0 million) for the fourth quarter of 2018, representing an increase of RMB2.5 million or 13.8% from RMB18.1 million for the fourth quarter of 2017, and an increase of RMB2.1 million or 11.4% from RMB18.5 million for the third quarter of 2018. The year-over-year increase was mainly attributable to an increase of RMB1.3 million in platform service costs for TMG associated with its online casino operations; an increase of RMB0.8 million in lottery insurance costs for TMG associated with its online lottery operations; and an increase of RMB0.4 million in depreciation associated with sports lottery terminals. The sequential increase was mainly attributable to an increase of RMB0.9 million in lottery insurance costs for TMG associated with its online lottery operations; an increase of RMB0.6 million in platform service costs for TMG associated with its online casino operations; and an increase of RMB0.5 million in server hosting costs.
Sales and marketing expenses were RMB22.8 million (US$3.3 million) for the fourth quarter of 2018, representing a slight decrease of RMB0.9 million or 3.8% from RMB23.7 million for the fourth quarter of 2017, and a decrease of RMB3.8 million or 14.3% from RMB26.6 for the third quarter of 2018. The sequential decrease was mainly attributable to a decrease of RMB4.9 million in marketing and promotional expenses relating to advertising during the World Cup and a decrease of RMB1.7 million in share-based compensation expenses associated with share options granted to the Company’s employees, which were partially offset by an increase of RMB2.3 million in expenses for employees; an increase of RMB0.2 million in depreciation associated with leasehold improvements for the Company’s provincial offices associated with physical sales channels of sports lottery tickets; and an increase of RMB0.2 million in travelling and related expenses.
General and administrative expenses were RMB64.0 million (US$9.3 million) for the fourth quarter of 2018, representing a slight increase of RMB2.1 million or 3.4% from RMB61.9 million for the fourth quarter of 2017, and a decrease of RMB9.3 million or 12.7% from RMB73.3 million for the third quarter of 2018. The sequential decrease was mainly due to a decrease of RMB12.8 million in share-based compensation expenses associated with share options granted to the Company’s employees, which was partially offset by an increase of RMB2.8 million in expenses for employees and an increase of RMB0.9 million in travelling and related expenses.
Service development expenses were RMB16.1 million (US$2.3 million) for the fourth quarter of 2018, representing a decrease of RMB1.9 million or 10.6% from RMB18.0 million for the fourth quarter of 2017, and a decrease of RMB1.3 million or 7.5% from RMB17.4 million for the third quarter of 2018. The year-over-year decrease was mainly due to a decrease of RMB2.2 million in expenses for employees; a decrease of RMB0.6 million in consulting expenses; a decrease of RMB0.5 million in technical fees; and a decrease of RMB0.3 million in travelling and related expenses, which were partially offset by an increase of RMB1.9 million in rental expenses for the Company’s new offices which were put into use at the end of 2017. The sequential decrease was mainly due to a decrease of RMB3.0 million in share-based compensation expenses associated with share options granted to the Company’s employees, which was partially offset by an increase of RMB2.0 million in expenses for employees.
Impairment of equity method investments was RMB149.9 million (US$21.8 million) for the fourth quarter of 2018, representing an increase of RMB121.1 million or 420.5% from RMB28.8 million for the fourth quarter of 2017, there was no such impairment for the third quarter of 2018. The impairment of equity method investments was related to the Company’s investment in Loto Interactive limited, which was calculated based on the closing market price on December 31, 2018.
Operating Loss
Operating loss was RMB245.2 million (US$35.7 million) for the fourth quarter of 2018, compared with operating loss of RMB142.8 million for the fourth quarter of 2017, and operating loss of RMB100.3 million for the third quarter of 2018.
Non-GAAP operating loss was RMB220.0 million (US$32.0 million) for the fourth quarter of 2018, compared with non-GAAP operating loss of RMB119.6 million for the fourth quarter of 2017, and non-GAAP operating loss of RMB57.6 million for the third quarter of 2018.
Net Loss Attributable to 500.com
Net loss attributable to 500.com was RMB247.7 million (US$36.0 million) for the fourth quarter of 2018, compared with net loss attributable to 500.com of RMB127.1 million for the fourth quarter of 2017, and net loss attributable to 500.com of RMB96.5 million for the third quarter of 2018. The year-over-year increase was mainly due to an impairment provision of RMB149.9 million provided for long-term investment during the fourth quarter of 2018, compared with an impairment provision of RMB28.8 million provided for long-term investment during the fourth quarter of 2017. The sequential increase was mainly due to an impairment provision of RMB149.9 million provided for long-term investment during the fourth quarter of 2018, while no such impairment provision provided for the third quarter of 2018.
Non-GAAP net loss attributable to 500.com was RMB222.5 million (US$32.4 million) for the fourth quarter of 2018, compared with non-GAAP net loss attributable to 500.com of RMB103.9 million for the fourth quarter of 2017, and non-GAAP net loss attributable to 500.com of RMB53.8 million for the third quarter of 2018.
Fourth Quarter 2018 Financial Results for Discontinued Operations
Net income from discontinued operations, net of taxes
The Company disposed of Qufan on February 9, 2018 for a total consideration of RMB127.5 million and recognized a disposal gain of RMB10.2 million, including foreign exchange loss, thus there were no net income from discontinued operations for the three months ended December 31, 2018 and September 30, 2018. Net loss from discontinued operations, net of taxes, was RMB2.9 million for the three months ended December 31, 2017.
Full Year 2018 Financial Results for Continuing Operations
Net revenues for the full year 2018 were RMB126.1 million (US$18.3 million), representing an increase of RMB 53.5 million or 73.7% from RMB72.6 million for the full year 2017. The Company acquired the TMG in July 2017, on a pro forma basis, had the TMG acquisition been completed on January 1, 2017, it would have contributed a full-year total net revenue of RMB93.4 million (EUR12.2 million) to the Company, which would have brought the total net revenue of the Company to RMB116.6 million for the year 2017. The year-over-year increase in net revenue on pro forma basis would have been only RMB9.5 million or 8.1%.
Operating loss for the full year 2018 was RMB494.4 million (US$71.9 million), representing an increase of RMB 127.1 million or 34.6% from RMB367.3 million for the full year 2017.
Non-GAAP operating loss for the full year 2018 was RMB385.8 million (US$56.1 million), representing an increase of RMB109.6 million or 39.7% from RMB276.2 million for the full year 2017.
Net loss attributable to 500.com for the full year 2018 was RMB453.9 million (US$66.0 million), representing an increase of RMB121.5 million or 36.6% from RMB332.4 million for the full year 2017.
Non-GAAP net loss attributable to 500.com for the full year 2018 was RMB345.2 million (US$50.2 million), representing an increase of RMB103.9 million or 43.1% from RMB241.3 million for the full year 2017.
Cash and Cash Equivalents, Restricted Cash, Time Deposits and Short-term Investments
As of December 31, 2018, the Company had cash and cash equivalents of RMB435.1 million (US$63.3 million), restricted cash[2] of RMB1.3 million (US$0.2 million) and short-term investments of RMB100.0 million (US$14.5 million), compared with cash and cash equivalents of RMB496.4 million, restricted cash of RMB1.3 million and short-term investments of RMB100.0 million as of September 30, 2018.
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[2] Restricted cash represents government grants received but pending final clearance. |
Prepayments and Other Current Assets
As of December 31, 2018, the balance of prepayment and other current assets was RMB64.7 million (US$9.4 million), compared with RMB51.6 million as of September 30, 2018. The balance as of December 31, 2018 mainly included: (i) the current portion of deferred expenses of RMB15.4 million (US$2.2 million); (ii) receivables from third party payment providers of RMB9.2 million (US$1.4 million); (iii) deposit receivables of RMB1.7 million (US$0.3 million); (iv) receivables of consideration from disposal of subsidiaries of RMB4.3 million (US$0.6 million); (v) deductible value added input tax of RMB12.6 million (US$1.8 million); and (vi) other receivables of RMB21.5 million (US$3.1 million).
Business Outlook
The Company does not expect to issue any earnings forecast until it receives clear instructions as to the resumption date of online sports lottery sales from the Ministry of Finance.
Currency Convenience Translation
This announcement contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Renminbi to U.S. dollars were made at the exchange rate of RMB6.8755 to US$1.00, as set forth in the H.10 statistical release of the Federal Reserve Board on December 31, 2018, and all translations from Renminbi to EUR were made at the exchange rate of RMB7.8113 to EUR1.00, which is the average of the month-end exchange rates as set forth in the statistical release of State Administration of Foreign Exchange at the end of each month in 2018.
About 500.com Limited:
500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China.
Safe Harbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “going forward,” “outlook” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
About Non-GAAP Financial Measures
To supplement the Company’s financial results presented in accordance with U.S. GAAP, the Company uses non-GAAP financial measures, which are adjusted from results based on U.S. GAAP to exclude share-based compensation expenses in the Company’s consolidated affiliated entities. Reconciliations of non-GAAP financial measures to U.S. GAAP financial measures are set forth in table at the end of this release, which provide more details on the non-GAAP financial measures.
Non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the historical and current financial performance of the Company’s continuing operations and prospects for the future. Non-GAAP financial information should not be considered a substitute for or superior to U.S. GAAP results. In addition, calculations of this non-GAAP financial information may be different from calculations used by other companies, and therefore comparability may be limited.
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: 500.com Limited Announces Unaudited Financial Results For the Fourth Quarter and Full Year ended December 31, 2018
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- The 2025 PUBG MOBILE Global Championship (PMGC) Group Stage concluded yesterday, with six teams qualifying for the Grand Finals after an intense run of clashes
- Alpha Gaming dominated in Group Green, while DRX were at the top of the leaderboard for Group Red
- Sixteen teams from the Group Stage will now battle their way through the Last Chance Stage, where they’ll fight to secure a coveted spot in the Grand Finals
- With three slots left for the Grand Finals in Bangkok, time is running out for the remaining teams to vie for a share of the $3M prize pool
The Group Stage of the 2025 PUBG MOBILE Global Championship (PMGC) has come to a thrilling close, following six days of high-stakes competition. The top three teams from Group Green and Group Red have earned a one-way ticket to the Grand Finals, whilst the remaining 16 teams that ranked 4th – 11th from both groups are set to contend in the Last Chance Stage taking place from December 6th – 7th, in a final push for survival. With $3,000,000 up for grabs, the winning team at the Grand Finals in Bangkok will claim the lion’s share of the prize pool, along with the coveted title, making every match a battle for glory.
Day one of the Group Stage began with Group Green, kicking off with Inner Circle Esports making a strong statement with an early chicken dinner and an incredible 18 eliminations, setting the pace for the group. Day two saw continued strong performances from Alpha Gaming, Alter Ego, and Team GOAT, taking the top three spots respectively. On day three, Alpha Gaming demonstrated consistency throughout the day, with a 12-elimination victory providing a solid boost, allowing them to end the day in the top spot with 174 points. At the end of the Group Green matches, Alpha Gaming, Dplus, and Team GOAT secured their spot to advance directly to the Grand Finals, leaving the mid-pack teams to fight for survival in the Last Chance Stage.
Group Red matched the intensity, delivering three days of high-stakes matches and tactical play. Day one began with EArena from Thailand taking an early win with 65 points and one Chicken Dinner, signaling their intent to remain top of the rank. Day two featured unexpected twists, with Regnum Carya and Team Flash executing key plays to climb the leaderboard. Maintaining their status, South Korea’s DRX locked in a top-three finish on day three with five Chicken Dinners, joined by Regnum Carya and EArena, clinching direct passage to the Grand Finals.
The Last Chance stage of the 2025 PMGC will see 16 teams, made up of those that placed 4th – 11th from both groups of the Group Stage, go head-to-head in twelve points-based matches over two days. The top two teams in the final standings will secure the remaining slots in the Grand Finals, while the other 14 teams will be eliminated from the tournament. Every match will put everything on the line as teams battle for a final shot to contend in the most prestigious PUBG MOBILE Esports tournament of the year.
Teams heading to the Last Chance Stage:
- Team Flash
- Weibo Gaming
- Influence Rage
- Arcred
- Burmese Ghouls
- Alliance
- Geekay Esports
- Boars Gaming
- Wolves Esports
- Inner Circle
- Team Gen G
- Loops Esports
- Alter Ego
- Team Falcons
- Papara Supermassive
- Team 9ZG
2025 PMGC Key Dates
- PMGC Last Chance (December 6th – 7th)
- PMGC Grand Finals (December 12th – 14th)
As the pinnacle of the competitive season, the 2025 PMGC in Bangkok stands as the ultimate proving ground for the world’s top PUBG MOBILE Esports teams. This year marks a new chapter for the scene, uniting the 2025 PMGC with the 2025 PUBG Global Championship (PGC) under the groundbreaking banner of PUBG UNITED 2025. By ending the year with its most prestigious event, PUBG MOBILE Esports not only celebrates the year’s finest talent, but also sets a forward-looking momentum that will shape the competitive landscape of the year ahead.
For more information on the 2025 PMGC, fans can keep up to date on PUBG MOBILE Esports’ YouTube, Facebook and Twitch channels. For more PUBG MOBILE Esports news, stay tuned on Facebook, Instagram, Twitter, Youtube, and TikTok.
The post THE 2025 PUBG MOBILE GLOBAL CHAMPIONSHIP GROUP STAGE WRAPS UP WITH LAST CHANCE IN SIGHT appeared first on European Gaming Industry News.
PayRamnt-weight: 400;”> has launched its private stablecoin payment gateway for iGaming operators, gaming platforms, and affiliates that require fast, borderless, and censorship-resistant payments.
Built on the belief that payments should operate as freely as the internet itself, PayRam delivers decentralized PayFi infrastructure that allows iGaming businesses to accept and manage stablecoin payments through fully self-hosted infrastructure. Operators no longer rely on banks, custodians, or centralized processors to control their revenue.
In an industry plagued by frozen balances, chargebacks, delayed settlements, and compliance shutdowns, PayRam gives operators direct control over funds, payouts, and transaction infrastructure. Platforms retain ownership of their payment flow without platform risk. Operators can now accept private stablecoin deposits, launch without intermediaries, and expand globally on their own terms.
Stablecoins Are the Future of Global iGaming Payments
Stablecoins now drive the most significant transformation in payments in decades. With a market capitalization exceeding $300 billion, stablecoins now function as real-world settlement infrastructure rather than speculative assets. For iGaming businesses that operate across borders, stablecoins deliver instant payouts, low transaction costs, and continuous global liquidity.
Governments also continue to formalize regulatory frameworks. Initiatives such as the GENIUS Bill in the United States signal that stablecoins will soon function as foundational financial infrastructure for both traditional commerce and emerging agent-driven economies.
Yet most existing stablecoin fiat gateways still copy legacy banking structures. They custodian funds, over-monitor transactions, delay settlements, and restrict high-risk industries such as iGaming. Operators continue to face frozen balances, withheld profits, and sudden account closures.
Instead of decentralizing commerce, centralized processors reintroduce single points of failure. They strip merchants of privacy, predictability, and true ownership of funds.
PayRam removes these bottlenecks by allowing iGaming operators to deploy and operate their own self-hosted stablecoin payment nodes. This sovereign infrastructure restores payment autonomy, protects funds from blacklisting, enables private deposits, and eliminates third-party revenue risk.
Permissionless Commerce Underpinned By Privacy
PayRam embodies a mission to decentralize the global payments ecosystem. Its founder, Siddharth Menon, who previously co-founded WazirX, India’s largest cryptocurrency exchange, helped bring crypto to more than 15 million users. Today, he’s channeling that experience into building a decentralized PayFi layer engineered for privacy, autonomy, and self-custody.
“The future of payments is decentralized stablecoin payments. As the world moves beyond custodial systems, PayRam is building the foundation for permissionless commerce, where every merchant, creator, or platform can host and own their own payment infrastructure,” said Siddharth Menon, Founder of PayRam. “Just as Uniswap reimagined trading through decentralization, PayRam is reimagining how money moves across the internet.”
iGaming Operators Go Live in Minutes and Expand Into Underserved Regions
PayRam removes all onboarding friction. Operators need no approvals, no vetting, and no centralized onboarding process. Any business can deploy PayRam, configure it, and begin processing private stablecoin payments within 10 minutes.
This instant deployment allows operators to enter underserved and payment-restricted regions, unlock new player bases, and launch real-money gaming operations without waiting on banks, payment processors, or jurisdictional approvals.
PayRam is built as a merchant-first ecosystem, offering advanced accounting analytics, scalable APIs, and automated payments orchestration tools. It also arrives with integrated growth tools like referral and payout systems. Merchants and individuals can issue payment requests, share unique payment links, and monitor transactions through programmable APIs, all operated on infrastructure that users self-host and fully control. The built-in SmartSweep feature uses a family of smart contracts to move funds securely and periodically, eliminating the need to store private keys on servers.
PayRam supports stablecoin and cryptocurrency payments across major networks including Bitcoin, Ethereum, Base, and Tron, with integrations for Polygon, BNB Smart Chain, Solana, Ripple, Monero, and TON next in line.
“We’ve used several crypto payment providers over the years, including BTCPay Server, NOWPayments, and others, but PayRam stands out as truly open and built for the modern internet economy. It gives us full control over our payments and funds, along with stablecoin support, privacy, multi-chain flexibility, and faster global settlements,” said an iGaming operator using PayRam.
PayRam Prepares to Support Agentic Betting With Privacy and Automation
Agentic betting represents the next evolution of iGaming, where autonomous software agents will place bets, execute strategies, manage bankrolls, and settle wagers in real time without human intervention. These systems already power algorithmic trading in financial markets, and iGaming infrastructure now begins to move in the same direction.
Most existing betting and payment infrastructure cannot support this shift. Centralized processors expose transaction logic, restrict automated flows, and introduce settlement delays that break agent-driven wagering models at scale.
PayRam is actively adopting the foundational standards and infrastructure required to support agentic betting in the future. The platform is positioning itself as a privacy-first, decentralized payment layer that will allow autonomous betting systems to operate with:
- Private stablecoin deposits
- Real-time settlement logic
- Automated treasury and bankroll flows
- Programmable payout execution
- Full self-custody and non-custodial risk isolation
By preparing to adopt open standards such as x402 and ERC-8004, PayRam aims to support interoperable and intelligent payment flows between autonomous betting systems, sportsbooks, and gaming platforms when the agentic wagering ecosystem reaches production maturity.
Through this approach, PayRam is building the foundation for a future where payments are private, programmable, and permissionless.
About PayRam
PayRam is the world’s first self-hosted private stablecoin processor, giving merchants and individuals complete control over their payments stack. Built for the next era of permissionless commerce, it merges stablecoin payments with self-hosted infrastructure to enable borderless, censorship-resistant transactions.
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Here are this weeks latest slots releases compiled by European Gaming
BGaming gets in the festive spirit with a Christmas take on its acclaimed casual hit, Aviamasters, with Aviamasters X-Mas. Santa and his sleigh replace the plane from the original title, with players watching as he flies through the air, collecting festive multipliers before hopefully landing on an ice floe to collect his prizes.
Stakelogic is spreading festive cheer this December with the release of Big Sugar Bonanza Xmas, a delicious sequel of the candy-coated hit, Big Sugar Bonanza. Launching on 1st December 2025, the new game transforms the Fluffkins’ sugary kingdom into a winter wonderland of treats and turbo-charged multipliers.
Million Games is bringing festive mayhem to the iGaming world with the launch of Rudolph’s Gone Rogue, a fast-paced Christmas slot where Santa’s most famous reindeer takes centre stage in a runaway holiday adventure. In this 5×3, 20-payline slot, Rudolph bolts into the night sky, dragging the rest of the herd with him and leaving a trail of chaos in his wake.
Spinomenal has unwrapped its new title Majestic Santa, signalling the start of the festive season. Spinomenal’s festive-inspired treat is a 5×3 slot that is bursting with Christmas imagery including red stockings, gingerbread men, and glistening golden bells.
Evoplay has launched Mega Greatest Catch: Blue Marlin, bringing the fearless fisherman Harry back to sea for his most exciting adventure yet. The latest instalment transports players to bright turquoise waters, where random scatters can trigger free spins, wilds appear unexpectedly, and the scatter respin feature offers a welcome second chance to enter the round.
Looking to unwrap longer sessions, stronger engagement and bigger revenues this Christmas? ICONIC21, in-demand iGaming content provider, just launched Sweet Royale Xmas ahead of the holiday season. Sweet Royale is one of the provider’s most popular slots to date and now returns in a Christmas edition decked with boughs of candy to allow operators to leverage the rise in slotting activity during the festive period.
Meet Nolimit City’s latest Crazy Ex-Girlfriend…the kind ex who would “accidentally” like your 2014 selfie at 3am and has a little voodoo doll named after you. Crazy Ex-Girlfriend has mapped out your every move and runs through a 2-4-4-4-4-2 layout across 6 reels.
It’s the most magical time of the year, but don’t expect a peaceful Christmas with the release of Realistic Games’ latest blockbuster slot, Wreckmas. The new 5×3, feature-packed slot brings toppled trees, tangled tinsel and chaotic carols to a family Christmas, along with the chance to hit a 5,000x max win.
Players can jingle their way to jackpot joy in Christmas MegapotsTM from Big Time Gaming. This festive slot brings Big Time Gaming’s legendary Megapots mechanic to life with seasonal sparkle, giving players the chance to unwrap Mini, Midi or Mega Jackpots with each spin.
Players are being commanded to raise the sails and brace themselves for a high seas adventure like no other in Captain WinBreaker, the latest swashbuckling slot from Northern Lights Gaming. This pirate-themed slot sees players take the helm of a ship bound for treasures and untold riches.
Amusnet has released 20 Burning Hot Buy Bonus, a sizzling twist on the classic fruit slot. Set across 5 reels and 3 lines, this game combines familiar symbols with modern mechanics for fast-paced spins, vibrant visuals and nonstop excitement.
SlotMatrix is embracing the holiday season with Santa’s Golden Christmas, a sparkling new slot packed with festive cheer, golden prizes, and heart-warming holiday magic. Set in a winter wonderland, the game brings players closer to the jolly gift-giver.
Inspired Entertainment, Inc. is thrilled to announce the exclusive launch of its brand-new, bespoke slot game, Spin O’Reely Grand Chance, in collaboration with long time partners bet365. Expanding bet365’s popular exclusive Irish-themed Spin O’Reely game series, the game will initially be available to players in the UK, Ontario, and New Jersey, with more markets to follow soon.
Play’n GO pits sun god Ra against serpent deity Apophis in Ra’s Reckoning, a mythic grid slot inspired by the celestial battles of ancient Egypt. Ra’s Reckoning brings players face to face with an age-old mythic struggle – the eternal duel between light and chaos.
Playson has unleashed a whirlwind of excitement with Tornado Power: Hold and Win, introducing a new Tornado Feature and enhanced payouts. The 3×4, 10 payline slot features immersive visuals with old-school charm, as the untamed gameplay is further enhanced by a new Tornado Feature
ELA Games announces the release of its latest title, Joker Jam, a bold visual addition to the studio’s growing portfolio of strategic yet aesthetic games. Set under the neon glow of a vibrant city, Joker Jam reimagines the classic Vegas aesthetic into a thrilling experience.
Just Slots has announced the exclusive launch of its newest title, Dynamo’s Show, available on Gamdom and Stake. A full network release will follow on 11 December 2025. This vibrant new slot transforms the classic Hold & Collect experience into a full theatrical performance
Spinomenal is celebrating the holiday season by inviting players for a festive journey with The North Star Express – Hold & Hit 3×3. Unfolding against a wintry backdrop, North Star Express arrives to present a fun, festive adventure as players race through snowy forests.
Belatra Games, the specialist online slots developer, has rolled out the red carpet to the Frozen Barrel Tavern to celebrate the festive season. Players are warmly welcomed into a cosy winter tavern that radiates holiday cheer and buzzes with Christmas chatter.
The post Week 49/2025 slot games releases appeared first on European Gaming Industry News.
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