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NeoGames Announces Third Quarter 2023 Results

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NeoGames S.A. announced financial results for the third quarter ended September 30, 2023.

Moti Malul, Chief Executive Officer of NeoGames, said: “We are pleased with the progress we made during the third quarter advancing our strategic goals while we continue to work towards completing our merger with Aristocrat Leisure. Our iLottery business continues to win market share and grow as we have recently announced that our joint venture, NeoPollard Interactive, expanded its footprint in the US, winning a public procurement to provide the West Virginia Lottery with a full iLottery program. Furthermore, we are working together with the North Carolina Lottery to prepare for the expansion of their iLottery program as they recently received approval to launch eInstant games. Pariplay’s extensive aggregation collaborations, including deals with OPAP in Greece to introduce games from NeoGames Studio, and iGaming content with Rush Street Interactive in Pennsylvania, further bolster our market presence. We also signed ten new operators, including leading operators, including Hard Rock and Fortuna Entertainment Group. With BtoBet’s online sports betting entry into the North American market through a transformative partnership with AGLC, we believe that we are poised for even greater expansion. While Aspire Core results slowed due to regulatory shifts in the United Kingdom and operational changes in Germany as we obtained our license to operate in that market, we anticipate seeing gradual improvement over the next few quarters. We remain focused on achieving sustainable growth. We are also encouraged by the interest and pipeline in the U.S. market for our iGaming offering. We plan to continue to invest in delivering the deals we’ve announced and to enhance our product offering to scale and capture future opportunities in the space.

“We are very thankful for the overwhelming support we continue to receive from our customers and business partners given the unfortunate conflict in Israel and the Middle East. As we have previously stated, there has been no impact on the business and the business continues to operate as usual.

“We continue to make progress towards completing our merger with Aristocrat Leisure, and during this quarter have received additional regulatory approvals which are required to close. We continue to expect the deal to be completed during the first half of fiscal year 2024. In the meantime, we remain dedicated to elevating the iGaming landscape, capitalizing on opportunities, and diligently executing on our strategic objectives for the benefit of all stakeholders.”

Third Quarter 2023 Financial Highlights

  • The total of Revenues and the Company’s share of NPI revenues was $63.3 million during the third quarter of 2023, compared to $73.3 million during the third quarter of 2022. These figures reflect accounting for the majority of Aspire Core revenues on a net basis in the third quarter of 2023 compared to historical figures in the third quarter of 2022, which were prepared on a gross basis, prompted by new commercial terms in certain Aspire Core contracts which went into effect on January 1, 2023. If iGaming revenues had been accounted for on a gross basis for the Aspire Core, the total of Revenue and the Company’s share in NPI revenues would have been $81.7 million, which would have reflected 11.5% year-over-year growth when measured in reporting currency. In addition to accounting for the new commercial terms, current year results reflect continued growth in the Company’s iLottery, Games and Sports business lines, partially offset by a slowdown in Aspire Core revenues due to regulatory changes in the United Kingdom and a temporary pause in operations in Germany prior to the Company recently securing its local license to operate.
  • iLottery revenues were $14.4 million during the third quarter of 2023, compared to $13.7 million during the third quarter of 2022, representing an increase of 5.6% year-over-year. In addition, the Company’s share in NPI revenues was $17.0 million during the third quarter of 2023, compared to $11.1 million during the third quarter of 2022, representing an increase of 53.3% year-over-year. The total of NeoGames’ iLottery revenue plus the Company’s share of NPI revenues during the third quarter of 2023 was $31.4 million, up 26.9% year-over-year, primarily driven by continued positive growth trend across most major accounts and the jackpot in the US market during the third quarter.
  • iGaming revenues were $31.9 million for the third quarter of 2023. These figures reflect accounting for the majority of Aspire Core revenues on a net basis compared to historical figures which were prepared on a gross basis, prompted by new commercial terms in certain Aspire Core contracts which went into effect on January 1, 2023. If iGaming revenues had been accounted for on a gross basis for the Aspire Core, total revenue would have been $50.5 million for iGaming primarily driven by continued growth in Games and Sports business lines, partially offset by a slowdown in Aspire Core revenues due to regulatory changes in the United Kingdom and a temporary pause in operations in Germany prior to the Company recently securing its local license to operate, which would have reflected 4% year-over-year growth when measured in reporting currency.
  • Net loss was $(3.6) million, or $(0.10) per share, during the third quarter of 2023, compared to a net loss of $(4.4) million, or $(0.13) per share, during the third quarter of 2022. Net loss during the third quarter of 2023 was mainly due to costs attributed to the Aristocrat transaction and the amortization attributable to the Aspire business combination.
  • Adjusted net income was $4.4 million, or $0.13 per share, during the third quarter of 2023, compared to $3.0 million, or $0.09 per share, during the third quarter of 2022.
  • Adjusted EBITDA was $19.9 million during the third quarter of 2023, compared to $17.6 million during the third quarter of 2022, representing an increase of 12.9% year-over-year.
  • Cash and cash equivalents balance as of the end of third quarter of 2023 was $27.1 million, compared to $41.2 million at the end of 2022, resulting in net negative cash of $14.1 million for the nine months of 2023. The difference in cash flows is primarily attributable to a number of key factors including advisor payments related to the Aristocrat transaction, slowness in Aspire Core operations, a consideration for the acquisition of the remaining shares of GMS Entertainment Ltd. from the managing director of Pariplay, and the impact from a bank guarantee required to secure the Company’s German license.

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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Week 38/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Fruitferno 40” went live, a new 5×4 slot from Hölle Games. It comes just a few weeks after the Dragon’s Diamonds launch, a cluster-style title with an equally hot theme! Following up to that 6×5 scatter-pays smasher, the Hölle team have taken a short detour to drop a 40-payline sequel to Fruitferno 20, for all those slot purists out there.

GAMOMAT is raising the stakes again with the release of its horror-themed Dead Legion. Set on a war-torn battlefield that’s shrouded in mist, Dead Legion unfolds within a macabre world where the dead legions have risen. An epic, dark live orchestral soundtrack intensifies the atmosphere across the 5×3 reels.

Reflex Gaming is heading deep into ancient ruins with the launch of The Cursed Idol of Montezuma Treasure Hunt, a visually stunning, Aztec-themed slot that introduces the company’s exclusive Treasure Hunt game mechanic. This 6×4, 20-payline title combines mystery, tension and progressive gameplay in a setting inspired by the legends of Montezuma.

Precision meets power in Crown Supreme Hold & Win from ICONIC21, the in-demand iGaming content provider. To take the throne, players must navigate a compact 3×3 grid and the regal Hold & Win mechanic in a slotting experience that pulses with anticipation and big win potential.

Relax Gaming, the iGaming aggregator and supplier of unique content, has launched Net Gains Dream Drop, a high-energy sequel where players can reel in massive rewards beneath the waves. Packed with coastal chaos and big catch potential, Net Gains Dream Drop offers 4,096 ways to win, three types of Mystery Symbols, Coin Collection mechanics, stacked Wilds, and more.

SlotMatrix, the world’s largest casino content aggregator, proudly announces the launch of 20 Armadillos, a thrilling new slot adventure set deep in a jungle where fortunes roll wild. 20 Armadillos is a 5-reel, 4-row slot with 20 lines, medium-high volatility and RTP options of 94.16% and 96.96%. With a maximum multiplier of 30,000x and a responsive, mobile-first design, the game blends rich visuals with high win potential.

Amusnet has released its latest video slot, Roman Coins – a game that captures the magnificence of the Roman Empire and brings it to life on the reels. It is Amusnet’s first-ever 3-pot video slot. With a 5-reel layout and 25 fixed paylines, Roman Coins strikes a perfect balance between classic slot structure and innovative mechanics.

Play’n GO throws the switch on Lab of Madness It’s a Wild!, a gothic comic-inspired slot that surges with strange science and surprise. Players join the unconventional Dr Frankenstein as she attempts to jolt her patchwork Monster to life in a lab where every pull of the lever sparks new possibilities.

Playson, the accomplished digital entertainment supplier, ups the ante in its latest Irish folklore release, Golden Penny x1000, with a rare 6×5 reelset, x20,000 max win and a bountiful Free Spins Bonus. In an enchanted twist to base play, the colourful game field comes alive with collapsing symbols. Eight matching symbols form a winning combination, with the total of the symbols forming the win value.

Evoplay, the award-winning game development studio, has launched Lunar Wilds, an atmospheric slot that combines mystical forest visuals with powerful features and big win potential. Set beneath a silver moon, the game transports players deep into an enchanted wilderness, where packs of wolves roam under the night sky.

The God of the Sea unleashes lavish gameplay in Blueprint Gaming’s latest offering, Rise of Atlantis Legacy, with the highly anticipated title introducing a new Gates of Atlantis bonus game, boosting the chance of significant cascading returns. Boasting the ability to appear on any of the six reels, Rising Multipliers offer enriched payouts if featured in a winning combination, which are added at the end of a successful cascade.

Stakelogic is setting sail into uncharted waters with its latest slot release, Kraken’s Catch, a feature-packed, high-volatility slot where monstrous multipliers and a mysterious sea creature lie beneath the surface. This 5×3 slot with 15 win lines invites players on a nautical adventure where every spin can uncover treasures from the deep.

 

The post Week 38/2025 slot games releases appeared first on European Gaming Industry News.

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KSA Issues New Duty of Care Guidance for Gaming Arcades and Casinos

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The Netherlands Gambling Authority (KSA) has issued new guidance for gaming arcades and casinos to improve the implementation of their duty of care. The KSA previously visited gaming arcades across the country. These visits revealed that while most arcades are paying attention to their duty of care, implementation could be improved in some areas. The guidance the KSA is now sharing with license holders contains practical tools and explanations, but no new rules.

Duty of care of arcades

With the implementation of the Gambling Act (Wet Koa), the duty of care for gaming arcades has been further expanded. This means they are obligated to prevent and mitigate gambling addiction as much as possible. Since then, gaming arcades have taken steps to comply with this requirement. However, in practice, the stated good intentions and the relevant policy are not always sufficiently aligned. The KSA has discussed this with various parties within the sector. Based on the input from these discussions, the new guidance has been developed.

Guidance

The guidance for arcades includes resources that providers can use to properly fulfill their duty of care and better inform their employees. The guide provides explanations and examples of what arcades must do and what the KSA expects of them. It also includes an overview of frequently asked questions. In addition to the guidance, a poster and an animation have been developed to raise awareness among arcade employees about the duty of care.

Along with the duty of care guidance, arcades also received a Guideline for Identity and Cruks Verification. The KSA regularly receives questions from the sector about the Cruks exclusion register. This guideline addresses the operation of Cruks and the most common questions and problems.

KSA chairman Michel Groothuizen said: “Certain key factors of the duty of care are easier to monitor for online providers than in brick-and-mortar casinos. In our conversations with arcade owners, we’ve noticed that they want to do more with the duty of care, but sometimes still struggle with its proper implementation. With this new guidance, supplemented with informational materials for employees, we’re giving them new tools to do so. In this way, we’re working together to ensure that players are optimally protected even at brick-and-mortar providers.”

The post KSA Issues New Duty of Care Guidance for Gaming Arcades and Casinos appeared first on European Gaming Industry News.

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QuinnBet Expand Ospreys Partnership

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The Ospreys announced that official betting partner, QuinnBet, had expanded their partnership with the Ospreys. The partnership will see QuinnBet take a place on the Ospreys shorts of all three of the team’s kits this season.

The new, multi-year partnership will see the QuinnBet logo take a prominent placement on the back of all three playing shorts.

With the Ospreys competing in front of multi-continental audiences in both the BKT URC and EPCR Challenge Cup this season, QuinnBet’s brand is set to reap the benefits.

Launched in 2017, QuinnBet, regulated by the UK Gambling Commission, and in Ireland by The Gambling Regulatory Authority of Ireland, has firmly established themselves in the iGaming industry by providing a socially responsible service. With an emphasis on giving more back through unique promotions and excellent customer care, QuinnBet has become a trusted name in the industry.

Head of Commercial for the Ospreys, Richard Lancaster, said: “We’re delighted that QuinnBet have decided to expand their partnership with the Ospreys. We have already built a successful relationship, and we’re looking forward to building on that even further in the coming seasons.

“Working with QuinnBet has already been hugely beneficial for us in education around Safer Gambling awareness, and we’re already planning on how to improve on this even further as we look ahead to the future.”

Niall McPartland, Head of Commercial and Sponsorship at QuinnBet, added: “We are delighted to enter this significant three-year partnership with Ospreys Rugby.

“The partnership builds on our inaugural 24/25 season sponsorship of The Ospreys, and the extension until 2028 demonstrates the success of the partnership to date and the huge regard we have for the club.

“Ospreys are one of the dominant forces in Welsh rugby, producing numerous players who have gone on to represent Wales and The Lions internationally. We are therefore privileged that our association with the club, will showcase QuinnBet at the highest level to Rugby supporters across the UK, Ireland and internationally.

“We commit to utilising the partnership to promote our brand in conjunction with Safer Gambling, which is integral to our business and which Ospreys Rugby is fully supportive of. We would like to wish everyone at the club the very best for the season ahead.”

The post QuinnBet Expand Ospreys Partnership appeared first on European Gaming Industry News.

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