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Mohegan Gaming Reports Q4 Fiscal 2019 Results

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Mohegan Gaming & Entertainment (MGE) has released the operating results for its fourth fiscal quarter ended September 30, 2019. During the three-month period, net revenues totalled US$414 m, a 19.2% rise from US$347.2 m in 2018.

Mohegan’s income from operations in Q4 was US$15.7 m, a 77.4% decline from the US$69.6 m that it had posted in 2018. This was primarily driven by an impairment charge at Mohegan Sun Pocono.

AEBITDA of US$89.4 m was a 5.4% decrease from the US$94.5 m in the prior year. Consolidated net revenues were up 19.2%, driven by the positive contribution of the Niagara resorts and continued outperformance from non-gaming revenue growth.

“MGE had a remarkable fiscal fourth quarter given the inclusion of two new competitors in our primary northeast market in the last 15 months, and we are off to a good start thus far in the first quarter of fiscal 2020 as well,” Mario Kontomerkos, President and CEO of Mohegan said.

“These strong results can be attributed to a commendable management effort by our property leadership as well as our first full quarter of operations from our Niagara resorts. Outside of North America, project Inspire in South Korea continues under construction and remains on track for a 2022 opening. In connection with Inspire, we are pleased to announce our partnership with Hanwha Corporation, one of the country’s largest conglomerates, who will serve as our primary general contractor and will also provide the project with important local operational expertise and credit enhancement. These domestic and international efforts, which also include the September announcement of our venture with Virgin Hotels in Las Vegas, have placed MGE on solid ground for success for generations to come,” Mario Kontomerkos added.


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 Reports Q4 Fiscal 2019 Results

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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Metric Gaming provides Sportsbook to ManiSol Gaming

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Metric Gaming confirms sportsbook launch for InAndOutBet.com, ManiSol Gaming’s Northern European focussed Pay N Play® casino and sports betting brand.

Through a 2019 partnership with Together Gaming, InAndOutBet.com’s customers benefit from some of the best casino game and content providers in the industry with the convenience of instant, hassle-free deposits and withdrawals. Metric’s modern sportsbook proposition is an exciting addition to a brand that is looking to do things differently.

Speaking about the successful launch, Metric Gaming’s CEO Martin de Knijff said:

“We have been impressed by the whole ManiSol team from the start. We are excited about the potential of InAndOutBet and grateful for the trust ManiSol have shown in us and our product to deliver an important vertical for their growth plans.

This launch, our first full sportsbook, is a significant milestone for Metric and we are eager to showcase our unique capabilities. InAndOutBet will benefit from a best-in-class sportsbook proposition that will be fully localised in each country the brand operates, with negligible incremental costs for each new configuration.

Crucially, this includes pricing autonomy for every market, every selection on the sportsbook. This is so important for international brands these days due to the conflicting taxation rules introduced internationally. This will be a significant competitive advantage over their rivals, and we’re excited to have the opportunity to contribute to ManiSol’s success.”

Erik Gilstring, COO at ManiSol Gaming added:

“At first, we were unsure of using an untested sportsbook product. However, once we met the team at Metric and saw the capabilities of their products, we were excited to have access to this new technology.

We are confident we have secured the most modern sports betting product available on the market for our customers and are pleased to have added another high quality, innovative vertical to our growing brand.”

Metric Gaming is licensed and regulated by the UK Gambling Commission and holds a Class 4 Gaming Licence from Malta’s Gaming Authority.

For more information please visit www.metricgaming.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: Metric Gaming provides Sportsbook to ManiSol Gaming

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Prague Gaming Summit 2020 moderator profile: Zlatan Omerspahić (Head of Legal and Compliance, Data Protection Officer at NSoft) 

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Zlatan-Omerspahić-Announcements-Prague-2020 Prague Gaming Summit 2020 moderator profile: Zlatan Omerspahić (Head of Legal and Compliance, Data Protection Officer at NSoft) Reading Time: 2 minutes

 

The 4th edition of the Prague Gaming Summit will take place on 6 March 2020 and welcomes leading operators, service providers and gambling industry experts from all across Europe.

 

On the 6th of March at the Prague Gaming Summit, you have the opportunity to dive into several subjects, among which also the Gambling And Casino Games Via Social Media And Online Technologies (Large Room: Opal, Topaz, Quartz)”.

As mentioned in earlier press releases, will bring a brand new format of speeches and more trending themes as it did in the early years.

Among the leading experts that will share their latest information, you have the opportunity to hear more about the sports betting industry from Zlatan Omerspahić – NSoft, who will also be moderating the panel.

Zlatan Omerspahić has a Ph.D. in Commercial law, Corporate governance, Contract law, Regulatory issues and is currently serving the role of Data Protection Officer at NSoft.

He has graduated the Faculty of Law at the University of Zenica and has held several compliance-related roles at Sberbank and Hypo Alpe-Adria-Bank.

He is responsible, loyal, dedicated and eager to learn about innovative things.

Just recently, Zlatan has been shortlisted at the Global Regulatory Awards 2019 in the category: Data Protection Officer or Team of the year.

 Do not miss this unique opportunity to learn and networking with the leaders of the industry.

Order your Delegate Pass or VIP Package (Delegate Pass +Accommodation) now!

Here is a testimonial that has been left by Tal Zamstein, one of the attending delegates of the 2019 edition of Prague Gaming Summit:

It was great to have the operators and suppliers with the presence in the CEE territories under one roof. It is always very useful to discover the challenges and see the trends of the industry in the newly regulated markets.

Tal Zamstein

Group Head of Gaming at Fortuna Group


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: Prague Gaming Summit 2020 moderator profile: Zlatan Omerspahić (Head of Legal and Compliance, Data Protection Officer at NSoft) 

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1xBet becomes the title partner of NAVI

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1xBet, one of the leading betting platforms in the world, became the title partner of our esports club. The cooperation agreement is expected to last for 1 year and will be valid until December 31, 2020.

If I had only recently been told that NAVI would work with 1xBet, one of the largest betting companies in the world, a partner of such an iconic club as FC Barcelona is, ​​I would not believe it. Now it has become a reality and the partnership between Natus Vincere and 1xBet inspires us incredibly. Welcome to #navination! – said, Yevhen Zolotarov, CEO Natus Vincere.

The agreement provides 1xBet support for NAVI teams in various esports disciplines. We plan to create a number of powerful marketing activities and campaigns with 1xBet for our fans.

1xBet is an international gaming betting company with over 12 years of experience in the industry and has offices in Europe, Asia, Africa and Latin America. Previously, the company entered into agreements with a number of well-known organizations, including the Spanish La Liga, the Italian Serie A, and the FC Barcelona.


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: 1xBet becomes the title partner of NAVI

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