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Boyd Gaming Reports Second-Quarter 2019 Results
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Boyd Gaming Corporation reported financial results for the second quarter ended June 30, 2019.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “During the second quarter, our Company made continued progress executing against our strategic growth initiatives. Despite a few isolated challenges, we delivered revenue, Adjusted EBITDAR and operating margin growth in every segment of our business, as our operating teams identified and drove profitable revenue growth and enhanced efficiencies. We achieved strong growth at our newly acquired properties, significantly improving upon their solid standalone performances last year. And through ongoing marketing and operational initiatives, we are successfully growing visitation and expanding our customer base across the country. In all we are pleased with our progress, and remain confident we are well-positioned to capitalize on future growth opportunities.”
Boyd Gaming reported second-quarter revenues of $846.1 million, up 37.2% from $616.8 million in the second quarter of 2018. The Company reported net income of $48.5 million, or $0.43 per share, for the second quarter of 2019, compared to $38.9 million, or $0.34 per share, for the year-ago period.
Total Adjusted EBITDAR(1) was $232.6 million in the second quarter of 2019, rising 42.3% from $163.4 million in the second quarter of 2018. Adjusted Earnings(1) for the second quarter of 2019 were $52.5 million, or $0.46 per share, compared to Adjusted Earnings of $44.0 million, or $0.38 per share, for the same period in 2018.
Results for the second quarter of 2019 include $228.5 million in revenues and $66.8 million in Adjusted EBITDAR from Ameristar Kansas City, Ameristar St. Charles, Belterra Resort and Belterra Park, acquired on October 15, 2018; Valley Forge Casino Resort, acquired by the Company on September 17, 2018; and Lattner Entertainment, acquired on June 1, 2018.
(1) |
See footnotes at the end of the release for additional information relative to non-GAAP financial measures. |
Operations Review
Las Vegas Locals
In the Las Vegas Locals segment, second-quarter 2019 revenues were $220.9 million, up from $220.0 million in the year-ago quarter. Second-quarter 2019 Adjusted EBITDAR was $71.4 million, up from $70.2 million in the second quarter of 2018.
The Las Vegas Locals segment recorded its highest second-quarter Adjusted EBITDAR in 14 years. Despite challenging year-over-year comparisons and lower hold at The Orleans, the segment achieved continued growth in revenues, Adjusted EBITDAR and operating margins. Adjusted EBITDAR grew at every major property in the segment during the quarter, excluding The Orleans.
Downtown Las Vegas
In the Downtown Las Vegas segment, revenues were $64.5 million in the second quarter of 2019, up from $61.2 million in the year-ago period. Adjusted EBITDAR was a second-quarter record of $15.9 million in the current year, an increase of 17.4% from $13.5 million in the second quarter of 2018.
All three Downtown Las Vegas properties set Adjusted EBITDAR records for the second quarter. Segment results reflect strong gains in Hawaiian visitation and unrated play, as well as continued growth throughout the market.
Midwest & South
In the Midwest & South segment, revenues were $560.7 million, up from $335.6 million in the second quarter of 2018. Adjusted EBITDAR was $165.1 million, growing from $98.5 million in the year-ago period. Results for the segment include contributions from the Company’s newly acquired properties.
On a same-store basis, the Midwest & South segment posted its fifth consecutive quarter of improved revenues, Adjusted EBITDAR and operating margins, with Adjusted EBITDAR gains at a majority of the Company’s same-store regional properties. On a combined basis, the Company’s newly acquired properties delivered revenue growth and strong Adjusted EBITDAR and margin increases over their standalone results in the prior year.
Balance Sheet Statistics
As of June 30, 2019, Boyd Gaming had cash on hand of $239.4 million, and total debt of $3.95 billion.
Full-Year 2019 Guidance
For the full year 2019, Boyd Gaming reaffirms its previously provided guidance of total Adjusted EBITDAR of $885 millionto $910 million.
BOYD GAMING CORPORATION |
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||||
(Unaudited) |
||||||||||||||||
Three Months Ended |
Six Months Ended |
|||||||||||||||
June 30, |
June 30, |
|||||||||||||||
(In thousands, except per share data) |
2019 (a) |
2018 |
2019 (a) |
2018 |
||||||||||||
Revenues |
||||||||||||||||
Gaming |
$ |
633,659 |
$ |
447,788 |
$ |
1,253,912 |
$ |
888,251 |
||||||||
Food & beverage |
112,047 |
87,601 |
223,137 |
173,000 |
||||||||||||
Room |
61,097 |
49,434 |
118,341 |
97,346 |
||||||||||||
Other |
39,329 |
31,970 |
78,030 |
64,314 |
||||||||||||
Total revenues |
846,132 |
616,793 |
1,673,420 |
1,222,911 |
||||||||||||
Operating costs and expenses |
||||||||||||||||
Gaming |
282,593 |
193,991 |
559,209 |
383,026 |
||||||||||||
Food & beverage |
103,477 |
81,619 |
205,628 |
164,309 |
||||||||||||
Room |
27,799 |
21,654 |
54,681 |
42,587 |
||||||||||||
Other |
24,748 |
21,645 |
48,628 |
42,450 |
||||||||||||
Selling, general and administrative |
116,701 |
88,041 |
232,112 |
175,624 |
||||||||||||
Master lease rent expense (b) |
24,431 |
— |
48,393 |
— |
||||||||||||
Maintenance and utilities |
39,707 |
28,673 |
77,807 |
56,599 |
||||||||||||
Depreciation and amortization |
68,051 |
53,923 |
135,304 |
105,199 |
||||||||||||
Corporate expense |
26,913 |
24,063 |
58,090 |
49,920 |
||||||||||||
Project development, preopening and writedowns |
4,915 |
5,801 |
8,946 |
9,241 |
||||||||||||
Impairment of assets |
— |
993 |
— |
993 |
||||||||||||
Other operating items, net |
105 |
132 |
304 |
1,931 |
||||||||||||
Total operating costs and expenses |
719,440 |
520,535 |
1,429,102 |
1,031,879 |
||||||||||||
Operating income |
126,692 |
96,258 |
244,318 |
191,032 |
||||||||||||
Other expense (income) |
||||||||||||||||
Interest income |
(816) |
(522) |
(922) |
(979) |
||||||||||||
Interest expense, net of amounts capitalized |
61,233 |
44,959 |
122,563 |
89,218 |
||||||||||||
Loss on early extinguishments and modifications of debt |
508 |
— |
508 |
61 |
||||||||||||
Other, net |
(455) |
(24) |
(340) |
(404) |
||||||||||||
Total other expense, net |
60,470 |
44,413 |
121,809 |
87,896 |
||||||||||||
Income before income taxes |
66,222 |
51,845 |
122,509 |
103,136 |
||||||||||||
Income tax provision |
(17,738) |
(13,247) |
(28,574) |
(23,139) |
||||||||||||
Income from continuing operations, net of tax |
48,484 |
38,598 |
93,935 |
79,997 |
||||||||||||
Income from discontinued operations, net of tax |
— |
347 |
— |
347 |
||||||||||||
Net income |
$ |
48,484 |
$ |
38,945 |
$ |
93,935 |
$ |
80,344 |
||||||||
Basic net income per common share |
||||||||||||||||
Continuing Operations |
$ |
0.43 |
$ |
0.34 |
$ |
0.83 |
$ |
0.70 |
||||||||
Discontinued Operations |
— |
— |
— |
— |
||||||||||||
Basic net income per common share |
$ |
0.43 |
$ |
0.34 |
$ |
0.83 |
$ |
0.70 |
||||||||
Weighted average basic shares outstanding |
113,318 |
114,543 |
113,329 |
114,459 |
||||||||||||
Diluted net income per common share |
||||||||||||||||
Continuing Operations |
$ |
0.43 |
$ |
0.34 |
$ |
0.83 |
$ |
0.70 |
||||||||
Discontinued Operations |
— |
— |
— |
— |
||||||||||||
Diluted net income per common share |
$ |
0.43 |
$ |
0.34 |
$ |
0.83 |
$ |
0.70 |
||||||||
Weighted average diluted shares outstanding |
113,795 |
115,218 |
113,832 |
115,186 |
__________________________________________ |
|
(a) |
Results for the three and six months ended June 30, 2019 include Lattner Entertainment, acquired on June 1, 2018, Valley Forge Casino Resort, acquired on September 17, 2018, and Ameristar Casino Kansas City, Ameristar Casino St. Charles, Belterra Resort and Belterra Park, acquired on October 15, 2018 (collectively, the “Acquired Businesses”). See Boyd Gaming’s Form 10-K for the period ended December 31, 2018, for further information regarding the Acquired Businesses. |
(b) |
Rent expense incurred by those properties subject to a master lease with a real estate investment trust. |
BOYD GAMING CORPORATION |
||||||||||||||||
SUPPLEMENTAL INFORMATION |
||||||||||||||||
Reconciliation of Adjusted EBITDA to Net Income |
||||||||||||||||
(Unaudited) |
||||||||||||||||
Three Months Ended |
Six Months Ended |
|||||||||||||||
June 30, |
June 30, |
|||||||||||||||
(In thousands) |
2019 (a) |
2018 |
2019 (a) |
2018 |
||||||||||||
Total Revenues by Reportable Segment |
||||||||||||||||
Las Vegas Locals |
$ |
220,948 |
$ |
219,974 |
$ |
443,798 |
$ |
442,149 |
||||||||
Downtown Las Vegas |
64,466 |
61,202 |
127,492 |
121,670 |
||||||||||||
Midwest & South |
560,718 |
335,617 |
1,102,130 |
659,092 |
||||||||||||
Total revenues |
$ |
846,132 |
$ |
616,793 |
$ |
1,673,420 |
$ |
1,222,911 |
||||||||
Adjusted EBITDAR by Reportable Segment |
||||||||||||||||
Las Vegas Locals |
$ |
71,449 |
$ |
70,248 |
$ |
145,683 |
$ |
141,278 |
||||||||
Downtown Las Vegas |
15,902 |
13,543 |
30,927 |
26,761 |
||||||||||||
Midwest & South |
165,064 |
98,510 |
321,535 |
192,756 |
||||||||||||
Property Adjusted EBITDAR |
252,415 |
182,301 |
498,145 |
360,795 |
||||||||||||
Corporate expense, net of share-based compensation expense (b) |
(19,819) |
(18,878) |
(42,524) |
(36,900) |
||||||||||||
Adjusted EBITDAR |
232,596 |
163,423 |
455,621 |
323,895 |
||||||||||||
Master lease rent expense (c) |
(24,431) |
— |
(48,393) |
— |
||||||||||||
Adjusted EBITDA |
208,165 |
163,423 |
407,228 |
323,895 |
||||||||||||
Other operating costs and expenses |
||||||||||||||||
Deferred rent |
244 |
294 |
489 |
550 |
||||||||||||
Depreciation and amortization |
68,051 |
53,923 |
135,304 |
105,199 |
||||||||||||
Share-based compensation expense |
8,158 |
6,022 |
17,867 |
14,949 |
||||||||||||
Project development, preopening and writedowns |
4,915 |
5,801 |
8,946 |
9,241 |
||||||||||||
Impairment of assets |
— |
993 |
— |
993 |
||||||||||||
Other operating items, net |
105 |
132 |
304 |
1,931 |
||||||||||||
Total other operating costs and expenses |
81,473 |
67,165 |
162,910 |
132,863 |
||||||||||||
Operating income |
126,692 |
96,258 |
244,318 |
191,032 |
||||||||||||
Other expense (income) |
||||||||||||||||
Interest income |
(816) |
(522) |
(922) |
(979) |
||||||||||||
Interest expense, net of amounts capitalized |
61,233 |
44,959 |
122,563 |
89,218 |
||||||||||||
Loss on early extinguishments and modifications of debt |
508 |
— |
508 |
61 |
||||||||||||
Other, net |
(455) |
(24) |
(340) |
(404) |
||||||||||||
Total other expense, net |
60,470 |
44,413 |
121,809 |
87,896 |
||||||||||||
Income before income taxes |
66,222 |
51,845 |
122,509 |
103,136 |
||||||||||||
Income tax provision |
(17,738) |
(13,247) |
(28,574) |
(23,139) |
||||||||||||
Income from continuing operations, net of tax |
48,484 |
38,598 |
93,935 |
79,997 |
||||||||||||
Income from discontinued operations, net of tax |
— |
347 |
— |
347 |
||||||||||||
Net income |
$ |
48,484 |
$ |
38,945 |
$ |
93,935 |
$ |
80,344 |
__________________________________________ |
|
(a) |
Results for the three and six months ended June 30, 2019 include the Acquired Businesses, which are included in the Midwest & South segment. |
(b) |
Reconciliation of corporate expense: |
Three Months Ended |
Six Months Ended |
|||||||||||||||
June 30, |
June 30, |
|||||||||||||||
(In thousands) |
2019 |
2018 |
2019 |
2018 |
||||||||||||
Corporate expense as reported on Condensed Consolidated Statements of Operations |
$ |
26,913 |
$ |
24,063 |
$ |
58,090 |
$ |
49,920 |
||||||||
Corporate share-based compensation expense |
(7,094) |
(5,185) |
(15,566) |
(13,020) |
||||||||||||
Corporate expense, net, as reported on the above table |
$ |
19,819 |
$ |
18,878 |
$ |
42,524 |
$ |
36,900 |
(c) |
Rent expense incurred by those properties subject to a master lease with a real estate investment trust. |
BOYD GAMING CORPORATION |
||||||||||||||||
SUPPLEMENTAL INFORMATION |
||||||||||||||||
Reconciliations of Net Income to Adjusted Earnings |
||||||||||||||||
and Net Income Per Share to Adjusted Earnings Per Share |
||||||||||||||||
(Unaudited) |
||||||||||||||||
Three Months Ended |
Six Months Ended |
|||||||||||||||
June 30, |
June 30, |
|||||||||||||||
(In thousands, except per share data) |
2019 (a) |
2018 |
2019 (a) |
2018 |
||||||||||||
Net income |
$ |
48,484 |
$ |
38,945 |
$ |
93,935 |
$ |
80,344 |
||||||||
Less: income from discontinued operations, net of tax |
— |
(347) |
— |
(347) |
||||||||||||
Income from continuing operations, net of tax |
48,484 |
38,598 |
93,935 |
79,997 |
||||||||||||
Pretax adjustments: |
||||||||||||||||
Project development, preopening and writedowns |
4,915 |
5,801 |
8,946 |
9,241 |
||||||||||||
Impairment of assets |
— |
993 |
— |
993 |
||||||||||||
Other operating items, net |
105 |
132 |
304 |
1,931 |
||||||||||||
Loss on early extinguishments and modifications of debt |
508 |
— |
508 |
61 |
||||||||||||
Other, net |
(455) |
(24) |
(340) |
(404) |
||||||||||||
Total adjustments |
5,073 |
6,902 |
9,418 |
11,822 |
||||||||||||
Income tax effect for above adjustments |
(1,057) |
(1,467) |
(1,990) |
(2,574) |
||||||||||||
Adjusted earnings |
$ |
52,500 |
$ |
44,033 |
$ |
101,363 |
$ |
89,245 |
||||||||
Net income per share, diluted |
$ |
0.43 |
$ |
0.34 |
$ |
0.83 |
$ |
0.70 |
||||||||
Less: income from discontinued operations per share |
— |
— |
— |
— |
||||||||||||
Income from continuing operations per share |
0.43 |
0.34 |
0.83 |
0.70 |
||||||||||||
Pretax adjustments: |
||||||||||||||||
Project development, preopening and writedowns |
0.04 |
0.05 |
0.08 |
0.08 |
||||||||||||
Impairment of assets |
— |
— |
— |
— |
||||||||||||
Other operating items, net |
— |
— |
— |
0.01 |
||||||||||||
Loss on early extinguishments and modifications of debt |
— |
— |
— |
— |
||||||||||||
Other, net |
— |
— |
— |
— |
||||||||||||
Total adjustments |
0.04 |
0.05 |
0.08 |
0.09 |
||||||||||||
Income tax effect for above adjustments |
(0.01) |
(0.01) |
(0.02) |
(0.02) |
||||||||||||
Adjusted earnings per share, diluted |
$ |
0.46 |
$ |
0.38 |
$ |
0.89 |
$ |
0.77 |
||||||||
Weighted average diluted shares outstanding |
113,795 |
115,218 |
113,832 |
115,186 |
__________________________________________ |
|
(a) |
Results for the three and six months ended June 30, 2019 include the Acquired Businesses. |
Non-GAAP Financial Measures
Regulation G, “Conditions for Use of Non-GAAP Financial Measures,” prescribes the conditions for use of non-GAAP financial information in public disclosures. We believe that our presentations of the following non-GAAP financial measures are important supplemental measures of operating performance to investors: earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted EBITDA, EBITDAR (EBITDA further adjusted for rent expense associated with a master lease), Adjusted EBITDAR, Adjusted Earnings and Adjusted Earnings Per Share (Adjusted EPS). The following discussion defines these terms and why we believe they are useful measures of our performance. We do not provide a reconciliation of forward-looking non-GAAP financial measures to the corresponding forward-looking GAAP measure due to our inability to project special charges and certain expenses.
EBITDA, Adjusted EBITDA, EBITDAR and Adjusted EBITDAR
EBITDA and EBITDAR are commonly used measures of performance in our industry that we believe, when considered with measures calculated in accordance with accounting principles generally accepted in the United States (“GAAP”), provide our investors a more complete understanding of our operating results before the impact of investing and financing transactions and income taxes and facilitates comparisons between us and our competitors. Management has historically adjusted EBITDA and EBITDAR when evaluating operating performance because we believe that the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a full understanding of our core operating results and as a means to evaluate period-to-period results. We refer to this measure as Adjusted EBITDA or Adjusted EBITDAR. We have chosen to provide this information to investors to enable them to perform comparisons of past, present and future operating results and as a means to evaluate the results of core on-going operations. We have historically reported these measures to our investors and believe that the continued inclusion of Adjusted EBITDA and Adjusted EBITDAR provides consistency in our financial reporting. We use Adjusted EBITDA and Adjusted EBITDAR in this press release because we believe this information is useful to investors in allowing greater transparency related to significant measures used by our management in their financial and operational decision-making. Adjusted EBITDA and Adjusted EBITDAR are among the more significant factors in management’s internal evaluation of total company and individual property performance and in the evaluation of incentive compensation related to property management. Management also uses Adjusted EBITDA and Adjusted EBITDAR as measures in the evaluation of potential acquisitions and dispositions. Adjusted EBITDA and Adjusted EBITDAR are also used by management in the annual budget process. Externally, we believe these measures continue to be used by investors in their assessment of our operating performance and the valuation of our company. Adjusted EBITDA reflects EBITDA adjusted for deferred rent, share-based compensation expense, project development, preopening and writedown expenses, impairments of assets, loss on early extinguishments and modifications of debt and other operating items, net. Adjusted EBITDAR reflects Adjusted EBITDA further adjusted for rent expense associated with a master lease with a real estate investment trust.
Adjusted Earnings and Adjusted EPS
Adjusted Earnings is net income before project development, preopening and writedown expenses, impairments of assets, other items, net, gain or loss on early extinguishments and modifications of debt, other non-recurring adjustments, net, and income from discontinued operations, net of tax. Adjusted Earnings and Adjusted EPS are presented solely as supplemental disclosures because management believes that they are widely used measures of performance in the gaming industry.
Limitations on the Use of Non-GAAP Measures
The use of EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures has certain limitations. Our presentation of EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS or certain other non-GAAP financial measures may be different from the presentation used by other companies and therefore comparability may be limited. Depreciation and amortization expense, interest expense, income taxes and other items have been and will be incurred and are not reflected in the presentation of EBITDA, Adjusted EBITDA, EBITDAR and Adjusted EBITDAR. Each of these items should also be considered in the overall evaluation of our results. Additionally, EBITDA, Adjusted EBITDA, EBITDAR and Adjusted EBITDAR do not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest and income taxes, capital expenditures and other items both in our reconciliations to the historical GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance.
EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures should not be considered as an alternative to net income, operating income, or any other operating performance measure prescribed by GAAP, nor should these measures be relied upon to the exclusion of GAAP financial measures. EBITDA, Adjusted EBITDA, EBITDAR, Adjusted EBITDAR, Adjusted Earnings, Adjusted EPS and certain other non-GAAP financial measures reflect additional ways of viewing our operations that we believe, when viewed with our GAAP results and the reconciliations to the corresponding historical GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure.
Forward-looking Statements and Company Information
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as “may,” “will,” “might,” “expect,” “believe,” “anticipate,” “could,” “would,” “estimate,” “continue,” “pursue,” or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company’s expectations, goals or intentions regarding future performance. In addition, forward-looking statements in this press release include statements regarding: the Company’s continued progress executing against its strategic growth initiatives, that the Company is successfully growing visitation and expanding its customer base across the country, that the Company is well-positioned to capitalize on future growth opportunities, and all of the statements under the heading “Full-Year 2019 Guidance.” Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. These risks and uncertainties include, but are not limited to: fluctuations in the Company’s operating results; the results of operations of its properties in various markets; the political climate and its effects on consumer spending and its impact on the travel industry; the state of the economy and its effect on consumer spending and the Company’s results of operations; the impact and effects of the local economies in the markets where the Company has operations; the receipt of legislative, and other state, federal and local approvals for the Company’s development projects; whether online gaming will become legalized in various states, the Company’s ability to operate online gaming profitably, or otherwise; consumer reaction to fluctuations in the stock market and economic factors; the fact that the Company’s expansion, development and renovation projects (including enhancements to improve property performance) are subject to many risks inherent in expansion, development or construction of a new or existing project; the effects of events adversely impacting the economy or the regions from which the Company draws a significant percentage of its customers; competition; litigation; financial community and rating agency perceptions of the Company and its subsidiaries; changes in laws and regulations, including increased taxes; the availability and price of energy, weather, regulation, economic, credit and capital market conditions; and the effects of war, terrorist or similar activity. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and in the Company’s other current and periodic reports filed from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement.
About Boyd Gaming:
Founded in 1975, Boyd Gaming Corporation is a leading geographically diversified operator of 29 gaming entertainment properties in 10 states. The Company currently operates 1.77 million square feet of casino space, more than 38,000 gaming machines, 815 table games, more than 11,000 hotel rooms, and 320 food and beverage outlets. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service.
Source: Boyd Gaming Corporation
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Red Rake Gaming releases Super 60 Stars, the newest slot in its successful Super series
Red Rake Gaming has released Super 60 Stars, the latest addition to its acclaimed Super series, now available to all partner operators.
This new release retains the fast-paced gameplay and wide variety of features that have made the series one of the most popular in the iGaming industry, while also introducing an exclusive new addition that adds even more excitement to the game.
The new feature in Super 60 Stars is the “Super 60 Stars” symbol, which can appear anywhere on the reels and trigger the brand-new “Super 60 Gold X” minigame. In this minigame, players can land the “Super X” symbol to multiply the value of the silver coins and accumulate big wins through the gold coins. On top of that, the “Super 60 Coins” system brings the familiar “Minor, Major and Grand” prizes, offering great win potential.
The game also includes some of the most successful features from previous titles in the series, such as “Sticky Wins” and progressive multipliers triggered by the “Super 25 Stars Wild” symbol, as well as the “Crystallize Symbols” and “Lucky Multipliers”, with multipliers of up to x50, and the «Star Fusion Minigame», which merges symbols for bigger rewards.
Other popular features also make a return, including the “Super 10 Stars Mini-Slot” and the “Frenzy Wheel Minigame”, with multipliers of up to x100, plus expanding Wilds with Respins, the “Wheel Bonus”, and “Free Spins”.
With its polished design, fast-paced gameplay and broad variety of features, Super 60 Stars strengthens the appeal of an already established series and stands out as a key release for operators looking to offer high-performing, differentiated content to their players.
Now available across all Red Rake Gaming partner casinos, as well as through its renowned tournament tool.
For additional information please contact: [email protected]
The post Red Rake Gaming releases Super 60 Stars, the newest slot in its successful Super series appeared first on European Gaming Industry News.
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GAMSTOP reports record registrations in 2025
- 44% increase in under 25s choosing to self-exclude from gambling
- Younger consumers choosing six-month exclusion to manage their gambling
- New chair Chris Pond to take up post in September
GAMSTOP, the national self-exclusion scheme for online gambling, has reported a 19% increase in registrations in 2025, with monthly registrations breaking all previous records twice in successive months.
The increase in registrations has been driven by younger consumers, aged 16-24, with self-exclusions increasing by 44% year-on-year in the first six months of the year. Four out of ten are choosing to exclude for the minimum six-month period, up from 36% in the previous year which could mean they are using GAMSTOP as a flexible, preventative tool to manage their gambling, though more research is needed to understand patterns of behaviour.
With self-exclusion at record levels, the Gamstop Group has announced its new chair will be Chris Pond, who replaces the outgoing Chair Jenny Watson CBE in September after her seven-year stint. Mr Pond is highly experienced in financial services and has worked across the public, private and non-profit sectors.
He is currently Chair of the Money and Mental Health Advisory Board and the Financial Services Consumer Panel at the Financial Conduct Authority. He has previously chaired the Financial Inclusion Commission, served as the CEO of two national charities and was a Work and Pensions Minister during his eight years as a Member of Parliament.
Since GAMSTOP’S inception in April 2018, nearly 600,000 vulnerable consumers have registered for the service and self-exclusion is continuing to increase at record rates. In April 2025, a record 10,281 consumers registered with GAMSTOP – the first time the monthly figure had ever topped 10,000 –and Monday April 7th, two days after the Grand National, was the busiest ever day with 437 registrations. However, the monthly record was eclipsed in May, with 10,344 new registrations.
The 2025 data reveals a growing preference for six-month exclusions across all age groups, a 29% year-on-year increase. However, the maximum five-year exclusion remains the most popular amongst all age groups, except under-25s and currently accounts for nearly one in two of all exclusions (47%). Since 2018, 53% of all registrations have been for the maximum five-year period.
GAMSTOP introduced a new ‘5 years with auto-renewal’ exclusion in December 2024 for vulnerable consumers looking to extend their exclusion from gambling websites and apps. The new 5 -year auto-renewal option was developed in direct response to feedback from users and the take-up has been high, with nearly half of those registering for a five-year exclusion choosing this option.
New registrations – H1 2025
16-24 | 25-34 | 35-44 | 45-54 | 55+ | |
6 months | 39% | 27% | 23% | 21% | 22% |
1 year | 26% | 26% | 23% | 22% | 22% |
5 years | 35% | 47% | 54% | 57% | 56% |
Registrations – all time
16-24 | 25-34 | 35-44 | 45-54 | 55+ | |
6 months | 33% | 23% | 20% | 20% | 20% |
1 year | 26% | 23% | 22% | 21% | 22% |
5 years | 41% | 54% | 58% | 59% | 58% |
Fiona Palmer, CEO of GAMSTOP, said:“Our data shows a significant spike in the number of younger consumers who are GAMstopping to manage their gambling, and this has driven the record registrations in 2025. They are increasingly choosing six-month exclusions, which suggests that GAMSTOP is being used as a tool to allow them a break from gambling. We have worked very hard to increase awareness of GAMSTOP amongst younger consumers and to destigmatise the use of self-exclusion. We want them to realise that GAMSTOP can be used as a preventative tool alongside other solutions, giving them breathing space to take back control”.
The post GAMSTOP reports record registrations in 2025 appeared first on European Gaming Industry News.
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STAKE SIGN FOOTBALL LEGEND PATRICE EVRA AS GLOBAL AMBASSADOR
Betting giants, Stake has today confirmed that former Manchester United and Juventus legend, Patrice Evra, has signed a deal to become a Global Ambassador for the brand.
Evra is the latest football legend to partner with Stake, joining fellow Premier League icon, Sergio Aguero as part of the Stake family. The former left-back enjoyed a trophy laden career, winning 17 major titles, including the UEFA Champions League, and five Premier League titles as part of an iconic Manchester United squad.
Evra’s larger than life personality has seen him remain a source of great entertainment since his retirement. Now considered a respected pundit, Evra has become known for his strong opinions and sharp wit.
Patrice Evra commented:“I am so excited to be working with Stake, and joining the family. They are such a fun and exciting brand who are at the top of their game, and to be joining their team of iconic Ambassadors is a privilege.
“I am a massive MMA fan, and Stake is a brand that everyone thinks of when it comes to the sport. To be on the same team as MMA Champions is great, and also to have a former rival from Manchester City, Sergio Aguero, now on my team, is fantastic.”
Akhil Sarin, Chief Marketing Officer at Stake, said: “Patrice is a footballing icon and one of the best players to ever play in his position. As much as his incredible credentials, we love his eccentric, larger than life personality and his strong opinions on the beautiful game. We see great synergy between Patrice and the Stake brand, and are really looking forward to what will be a great partnership.”
The post STAKE SIGN FOOTBALL LEGEND PATRICE EVRA AS GLOBAL AMBASSADOR appeared first on European Gaming Industry News.
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