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VOXBET SECURES FUNDING FROM TEKKORP CAPITAL, WATERHOUSE VC, ROBIN CHHABRA AND ANDY CLERKSON

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Voxbet attracts investment from industry heavyweights to accelerate growth

Voxbet, the creator of innovative software that allows customers to speak or type their bets, has secured strategic funding from a powerhouse group of international investors, led by Matt Davey and Tom Waterhouse.

This key investment arrives courtesy of Davey’s leading investment vehicle, Tekkorp Capital, alongside Waterhouse’s investment fund, Waterhouse VC. Tekkorp Capital also leverages the expertise and experience of two senior former Fox Bet and William Hill executives in Robin Chhabra and Andy Clerkson.

Voxbet is a technology company that enables sports bettors to speak or type what they want from a sportsbook, whether that’s a bet, a market or a tip. This journey reflects what customers are already accustomed to everywhere else online. Consequently, this financial validation from some of the sector’s most prescient players lights a fire under Voxbet’s goal to transform the user experience for sports bettors of every generation and territory.

The fresh financing will be used to drive Voxbet’s growth internationally, supporting the rapid development of its proprietary natural-language technology, across both voice and text services, and bolstering its product roadmap over the coming 12 months.

Davey is recognised as one of the industry’s most astute investors and dealmakers, having overseen more than ten mergers and acquisitions. Previously, he was CEO of SG Digital, the digital division of Scientific Games Corp. following a $631m purchase in 2018 by Scientific Games of NYX Gaming Group Ltd, where Davey also previously served as CEO. More recently, Davey’s SPAC, Tekkorp Digital, announced its $250m initial public offering last October, with a view to pinpointing a high-growth betting and gaming company with which to merge.

Chhabra and Clerkson have also been in the vanguard of corporate-acquisition activity within the digital gaming landscape for over a decade, defining progressive pathways around corporate strategy, M&A, and scale-up success stories.

Waterhouse founded Waterhouse VC in August 2019 to leverage the advantages of his past 20+ years of industry experience. The fund has an outstanding team of investment expertise, as well as in-house technical talent with past operational experience in the industry. The fund invests globally across publicly listed and private gaming and wagering businesses, with a particular focus on B2B suppliers to operators. The team profiles businesses that are agile enough to get to the top of operators’ product pipelines.

Accordingly, this consequential consortium combines for a peerless track record in building, investing and stewarding innovative digital companies to greater scale and dominant positions in the ever-evolving global gaming ecosystem.

Matt Davey, CEO at Tekkorp Capital, commented: “At Tekkorp Capital, we provide a natural habitat for transformative, high-growth igaming businesses. We’ve observed Voxbet’s impressive development, but have been particularly impressed with their recent strides in the field of speech recognition and natural-language processing, which afford them a material head start in this rapidly evolving industry. I expect they will continue to improve and consolidate their existing product offering for geographical expansion. These transformative steps cohere with our own vision around the catalytic power of tech in digital sports betting.”

Tom Waterhouse, CIO of Waterhouse VC, said: “The Waterhouse VC Fund aims to generate capital growth by holding long-term strategic investments in companies that can truly shape the future of the sports betting industry. Voxbet’s technology immediately improves and delivers a step change in the UX for international customers, so their credentials leapt off the page.”

Jonathan Power, Founder of Voxbet, added: “We’re thrilled to be joined on our journey by such excellent company. In leveraging their collective understanding and expertise, alongside an extensive network of long-standing relationships, Voxbet is instantly better-placed to strategically identify and execute on our next important steps. The team’s members have been involved in some of the most defining and instructive transactions in the sector, invariably creating significant shareholder value in the process. Naturally, they bring invaluable advisory acumen beyond their respective investments.”

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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Former UEFA.com editor Eugene Ravdin launches weekly sports column on MightyTips.com

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Former UEFA.com editor Eugene Ravdin has launched a weekly sports column on MightyTips.com, which will offer his thoughts and opinions on the latest developments in global sports.

MightyTips is proud to announce the launch of the weekly column, titled “The Ravdin Report”, from a seasoned sports media expert.

The column will feature weekly insights from the renowned sports journalist Eugene Ravdin, providing readers with his thoughts and views on sports, sports betting, and fantasy sports.

Additionally, publications will cover some of the biggest sports events and highlight prominent athletes across a diverse range of sports.

Eugene Ravdin is an experienced sports expert with decades of experience covering major sporting events.

Before joining MightyTips, he spent 19 years in various roles at UEFA.com, the UEFA official website. Most notably, as the Editor-in-Chief of the Russian-language editorial team.

During his time at one of the most recognisable organisations in association football, Eugene Ravdin covered a plethora of events and competitions from the men’s and women’s UEFA EUROs, through to the UEFA Champions League and UEFA Europa League finals.

Ravdin’s wealth of knowledge and experience has been bolstered over the years thanks to his journalistic avenues, where he has interviewed top-level sportspersons, such as Arsène Wenger and Guus Hiddink.

Eugene Ravdin, Communications and Marketing Manager at MightyTips, said, “I have spent almost all my professional career in the world of sports media, and have always been restricted by a certain topic or angle.

MightyTips offered me an engaging platform to write on with practically no boundaries. This is both challenging and inspiring, and I hope to give our readers a pinch of a personal take on a wide range of sports, competitions, and stars..

The Ravdin Report will provide insightful tips and opinions, which enhance the sports media and betting experience for MightyTips and its readers.

Not only will it cater to the interests of avid sports fans, but keep them updated with the latest news, analysis, and predictions of the sports world.

Users can expect a wide range of content in the new weekly sports column, including insights on football, basketball, boxing, and other sports.

You can check out the column over on MightyTips.com. Be sure to bookmark to get your dose of comprehensive coverage of the sports you love most.

 

The post Former UEFA.com editor Eugene Ravdin launches weekly sports column on MightyTips.com appeared first on European Gaming Industry News.

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PepperMill Casino launches a new exclusive feature: PepperMill Jackpots.

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PepperMill Casino launches a new exclusive feature: PepperMill Jackpots.

A pleasant surprise for all casino fans! PepperMill Casino, one of Belgium’s leading online casino operators, is pleased to unveil its latest update: PepperMill Jackpots.

A new feature to get new opportunities to win big with every spin.

  • The Random Drop: this jackpot falls randomly and offers the biggest winnings!
  • The Mill Drop: Unlike the other jackpots, this one drops before reaching the maximum
    amount of €1,000.
  • The Chrono Drop: this jackpot is programmed to drop every 3 hours, adding an extra layer of rewards throughout the day!

With the arrival of these new features, PepperMill Casino has struck a major blow and strengthened its already extensive offering. In addition to the PepperMill Boost, which rewards players with incremental winnings, the PepperMill Jackpots take the player experience to the next level!

By playing on the platform, players will automatically have a chance to win these three PepperMill Jackpots! PepperMill Casino keeps providing innovative and immersive ways to enhance the platform experience while ensuring that every player has access to a fully responsible, safe and reliable gaming session.

 

The post PepperMill Casino launches a new exclusive feature: PepperMill Jackpots. appeared first on European Gaming Industry News.

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Codere Online Reports Financial Results for the First Quarter 2024

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Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, has released its preliminary unaudited[2] financial results for the quarter ended March 31, 2024.

Aviv Sher, CEO of Codere Online, commented on the results, “We are off to a strong start in 2024, with net gaming revenue of €53 million in the first quarter, 34% above that of last year and once again our highest ever quarterly figure. Our focus on Mexico and Spain continues to yield impressive results, with net gaming revenue in Mexico growing by 51% in the first quarter to nearly €27 million. In Spain, meanwhile, net gaming revenue grew by 21% to over €22 million. In both markets, our targeted marketing efforts allowed us to grow our active customer base by c. 25% as a result of the acquisition of higher quality customers (i.e. lower churn) but also with an increased spend per active.”

Oscar Iglesias, CFO of Codere Online, stated, “Once again, top line growth exceeded our expectations in the first quarter, with Mexico continuing to put distance on Spain as our largest market by revenue. We are particularly excited, however, to see Mexico now also contributing positive Adjusted EBITDA for the first time. This, together with a strong performance by Spain, allowed us to generate €1.7 million in total Adjusted EBITDA in the first quarter, which represents a significant step towards achieving our full year profitability targets.”

Mr. Iglesias further added, “On the back of this strong performance in the first quarter and based on recent trading activity, we now expect to generate between €195-210 million of net gaming revenue in 2024, and reaffirm that we expect to generate positive Adjusted EBITDA and cash flow for the full year in 2024.”

Recent Events

Launch in Mendoza

· Subject to obtaining final regulatory authorization, we expect to launch operations in the Province of Mendoza over the coming weeks.

· Mendoza is the 5th most populated province in Argentina with over 2 million people.

· This launch will further increase our presence in the country, where we started operations in the City of Buenos Aires in December 2021, and continue pursuing a license in the Province of Buenos Aires.

Rayados Renewal

· On March 15, 2024, Codere Online agreed to extend its relationship with the Monterrey Rayados Football Club as its Official Betting Partner for the next four seasons.

· With this renewal, Codere Online also became the Main Sponsor of the women’s team, Rayadas.

· Codere Online expects to continue to deliver on its growth plan in Latin America, relying on this and other sponsorships and local activations.

Board Appointment

· On April 9, 2024, the Board of Directors of Codere Online appointed Daniel Valdez as a member of the Board and the Audit Committee.

· Mr. Valdez previously served as a member of the Board between the consummation of the business combination in November 2021 and August 2023.

The post Codere Online Reports Financial Results for the First Quarter 2024 appeared first on European Gaming Industry News.

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