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Codere Announces Financial Results for Q1 2019

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6-5 Codere Announces Financial Results for Q1 2019Reading Time: 1 minute

 

Codere, the leading Spanish multinational company in the private gaming sector, has announced its results for the first quarter of 2019. The company has maintained its profitability through its performance in countries such as Mexico and Spain.

The company has obtained an operating income of 357.7 million euros, 6.7% less than in the same period of the previous year due to the depreciation of the peso against the euro in Argentina. This was compensated through the positive evolution in Mexico (+7.1 million euros), online activity (+6.1 million euros) and Spain (+3.7 million euros).

“The data reflects, once again, the impact of the operational and efficiency improvements implemented, and the strength of the company in a severe environment in terms of tax increases, especially in Argentina and Italy, and the devaluation of Latin American currencies,” Vicente Di Loreto, the general director of Codere said.

Codere has thus achieved a gross operating profit (adjusted EBITDA) of 68 million euros with an increase of 1.3 points in the margin, which reaches 19%. Operations cost decreased by 7.3% to 271.8 million euros as a result of the reduction of costs in Argentina, due to the devaluation of its currency.


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: Codere Announces Financial Results for Q1 2019

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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PGCB Reports $3.38 Million in Tax Revenue from First Full Year of Regulated Fantasy Contests

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12-4 PGCB Reports $3.38 Million in Tax Revenue from First Full Year of Regulated Fantasy ContestsReading Time: 2 minutes

 

The Pennsylvania Gaming Control Board posted on its website the monthly Fantasy Contests Revenue Report which includes totals from the first full year of the Commonwealth’s collection of taxes on the play of these games.

The amount of revenue generated through the play of fantasy contests in the first 12 months of operation in Pennsylvania was $22,542,688.  That generated $3,381,403 in tax revenue for the Commonwealth.

Beginning last year, Fantasy Contest Operators in Pennsylvania were required by Act 42 of 2017 to be licensed by the Board and to pay a 15% tax on the adjusted revenues derived from Pennsylvania players.

The report on the Board’s web site, https://gamingcontrolboard.pa.gov, provides a breakdown on fees collected from the play of Pennsylvania participants, the Fantasy Contest Operators’ adjusted revenue, and tax revenue collected by the Commonwealth.

Fantasy Contests adjusted revenue and tax revenue for each of the providers for April 2019 and for the 12-month period is displayed in the following tables:

Fantasy Contests Provider

April 2019 
Fantasy Contests
Adjusted Revenue

April 2019

Fantasy Contests

State Tax Due

DraftKings

$845,553.33

$126,833.00

FanDuel

$961,867.32

$144,280.10

DRAFT

$23,348.60

$3,502.29

Yahoo Fantasy Sports

$15,864.70

$2,379.71

Sportshub Technologies

$3,627.45

$544.12

Fantasy Draft

$1,918.83

$287.82

Boom Fantasy

$371.38

$55.71

Fantasy Football Players Championship

$0.00

$0.00

Full Time Fantasy Sports

$0.00

$0.00

Total

$1,852,551.61

$277,882.75

Fantasy Contests Provider

May 2018 – April 2019 
Fantasy Contests
Adjusted Revenue

May 2018 – April 2019

Fantasy Contests

State Tax Due

DraftKings

$11,549,460

$1,732,419

FanDuel

$10,274,886

$1,541,233

DRAFT

$320,105

$48,016

Fantasy Football Players Championship

$184,932

$27,740

Sportshub Technologies

$114,812

$17,221

Fantasy Draft

$41,103

$6,165

Yahoo Fantasy Sports

$28,128

$4,219

Full Time Fantasy Sports

$16,095

$2,414

Boom Fantasy

$12,785

$1,918

FASTPICK.COM*

$381

$57

Total

$22,542,688

$3,381,403

* Withdrew as a PA Operator

 

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, including sports wagering offered currently at eight locations. The oversight also includes other new gaming initiatives, expected to be launched in the coming months, which were created through Act 42 of 2017, an amendment to the Race Horse Development and Gaming Act.

The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ over 16,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to Pennsylvania homeowners.

Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.

Source: Pennsylvania Gaming Control Board


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: PGCB Reports .38 Million in Tax Revenue from First Full Year of Regulated Fantasy Contests

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Relax Gaming Announces Let’s Get Ready to Rumble® and It’s Time® In First Branded Content Deal

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relax-gaming-buffer Relax Gaming Announces Let’s Get Ready to Rumble® and It’s Time® In First Branded Content DealReading Time: 2 minutes

 

Dual IP deal will feature world-famous sports announcers Michael and Bruce Buffer as Relax Gaming Gets Ready to Rumble

 

Relax Gaming, the new-breed content provider and distribution platform, has laid down a disruptive marker with the unveiling of two new branded Boxing and Mixed Martial Arts (MMA) slot titles, Let’s Get Ready To Rumble® and It’s Time®.

The games will feature the likenesses and catchphrases from world-famous ring announcers Michael “The Voice Of Champions” Buffer and Bruce “The Voice Of MMA” Buffer.

Michael will lend his iconic delivery to Let’s Get Ready to Rumble®, while Bruce’s unmistakeable delivery of MMA’s most recognisable phrase will feature in It’s Time®.

Simon Hammon, Chief Product Officer at Relax Gaming, said: “We are delighted to unveil Relax Gaming’s first network branded productions, which feature partnerships with the iconic and world renowned Michael and Bruce Buffer.

“As we continue to capitalise on our rapid growth and market presence it seems a natural step to get disruptive in the best possible way, with games that feature the most iconic announcers in sports. Both games will include diverse mechanics and design styles highlighting the versatility of the Relax Gaming offering.”

Bruce Buffer said: “My brother and I are thrilled to be entering the world of video slots with a team as professional as Relax Gaming. Its ability to capture the essence and exhilaration of fight night has resulted in a hugely entertaining project.

“Sports fans, especially those keen on Boxing and MMA, will have the opportunity to strive for greatness with two games that promise to deliver. To sports and gaming fans everywhere, we look forward to seeing you in the ring!”

Relax Gaming is a new breed of supplier, offering fresh content and more than 570 games. This is the company’s first foray into branded content but far from the first for CPO, Simon Hammon. The provider has significantly grown its commercial footprint in recent months, signing numerous agreements with some of the industry’s most recognisable names.


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: Relax Gaming Announces Let’s Get Ready to Rumble® and It’s Time® In First Branded Content Deal

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Pragmatic Play And Interwetten Pen Landmark Live Casino Deal

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pragmatic-interwetten Pragmatic Play And Interwetten Pen Landmark Live Casino DealReading Time: 1 minute

 

Pragmatic Play, one of the leading software providers for Slots, Live Casino and Bingo, has announced a landmark deal with European operator Interwetten to integrate their Live Casino offering.

Interwetten customers will have access to Pragmatic Play’s Live Casino games, all of which will be broadcast using the latest technology from a state-of-the-art, newly constructed studio.

The operator’s agreement to roll out Pragmatic Play’s Live Casino portfolio is among the first to be announced, after its studio was granted an operational licence by the Romanian regulator earlier in 2019.

Appealing to a high-level, demanding clientele, Pragmatic Play’s Live Casino games are designed to recreate the thrill of the land-based atmosphere with all the advantages of online play: fast and easy placing bets, detailed game statistics, complete bet history, guiding sounds effects and animations.

Melissa Summerfield, Chief Commercial Officer at Pragmatic Play, said: “We are thrilled to be taking our offering live with such a highly-regarded operator as Interwetten.

“This marks a great milestone for Pragmatic Play as we consolidate our position as leading multi-product supplier, and our brand new Live Casino studio will host high-quality content for Interwetten customers.”

Mario Bilic, Head of Casino at Interwetten, said: “Pragmatic Play has forged a sterling reputation in the iGaming industry and we are delighted to be one of the first operators to offer its high-quality live casino games.

“Their portfolio is highly regarded in the market and we have every confidence Pragmatic’s Live Casino games will be a big hit with our players.”

Pragmatic Play has signed a series of significant commercial agreements over the past 12 months in regulated markets, expanding its reach with operators including PokerStars, Kindred and Casumo.

The provider’s entire portfolio of Slots, Live Casino, Bingo and other games are all available via a single API.

 


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: Pragmatic Play And Interwetten Pen Landmark Live Casino Deal

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