Connect with us

Latest News

NeoGames Announces Third Quarter 2023 Results

Published

on

Reading Time: 4 minutes

 

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.

Continue Reading
Advertisement
Prague Gaming & TECH Summit 2025 (25-26 March)
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Latest News

Spin2Win de GoldenRace regresa más fuerte

Published

on

Reading Time: 2 minutes

GoldenRace, proveedor líder de premiados deportes virtuales y soluciones apuestas, ha presentado la última versión de su emblemático juego de números, Spin2Win & Spin2Win Royale. Reconocido por su sencillez, dinamismo y altas recompensas, este título se ha convertido en una pieza clave del portfolio de la compañía y en una herramienta de participación comprobada para operadores de todo el mundo.

Los juegos de números siguen siendo una de las verticales más sólidas dentro del mercado internacional de apuestas. Cifras de H2 Gambling Capital confirman que los productos de casino representaron en Europa 21.500 y 8.500 millones en ingresos brutos de juego (GGR) para los mercados online y retail respectivamente, en 2024. Sus reglas claras, ciclos cortos y premios frecuentes los convierten en los favoritos de los jugadores y en una fuente estable de ingresos para los operadores.

En GoldenRace, nos esforzamos constantemente por mejorar nuestros productos, haciéndolos más atractivos y accesibles con cada lanzamiento. Y esta filosofía se aplica a toda nuestra cartera. Big5, una innovadora versión del fútbol virtual, y RaceDay, que reúne todos los tipos de carreras en un solo producto, son solo dos ejemplos recientes. Esta versión de Spin2Win continúa por el mismo camino.

Entre sus mejoras destacan una interfaz de usuario totalmente optimizada y una ruleta renovada e impactante que eleva la emoción de cada giro. El juego también incorpora estadísticas más claras, la opción de juego automático en el modo instantáneo y la función multiplicador en el modo programado, herramientas diseñadas para agilizar la toma de decisiones, aumentar la

participación y alargar las sesiones de juego.
Spin2Win mantiene además su variedad con cuatro formatos distintos: Clásico, Royale, Americano y Americano Royale. Las versiones Royale incluyen una ruleta de sectores que amplía las opciones de apuesta, mientras que las versiones Americanas destacan el doble cero verde con cuotas totalmente transparentes. Los operadores se benefician de una configuración flexible, múltiples formatos de cuotas y validaciones automáticas que garantizan un juego justo y estable.

Con este relanzamiento, GoldenRace reafirma su liderazgo en el vertical de los juegos de números e invita a operadores y jugadores a descubrir una nueva era de giros.

The post Spin2Win de GoldenRace regresa más fuerte appeared first on European Gaming Industry News.

Continue Reading

Latest News

GoldenRace’s Spin2Win returns stronger

Published

on

Reading Time: 2 minutes

GoldenRace, the leading provider of award-winning Virtual Sports and betting solutions, has unveiled the latest version of its emblematic number game, Spin2Win&Spin2Win Royale. Recognised for its simplicity, fast gameplay and high rewards, the title has become a cornerstone of the company’s portfolio and a proven engagement tool for operators worldwide.

Number games continue to be one of the most reliable verticals in the global betting market. Figures from H2 Gambling Capital confirm that casino-style products represented 21.5 and 8.5 billion in GGR for online and land-based markets, respectively, in 2024. Their clear rules, short cycles and frequent payouts make them a favourite among players and a steady source of revenue for operators.

At GoldenRace, we constantly push to improve our products, making them more engaging and accessible with every release. And this philosophy runs across our entire portfolio. Big5, a groundbreaking take on Virtual Football and RaceDay, which unites all race types in a single product, are just two recent examples. This version of Spin2Win continues this path.

Among the improvements are a fully optimised user interface and a renewed, visually striking wheel that boosts the excitement of every spin and clearer statistics. The game also incorporates an Autoplay option in instant mode and a Multiplier feature in scheduled mode – tools designed to enhance decision-making, increase engagement and extend player sessions online.

Spin2Win also maintains its variety with four distinct versions: Classic, Royale, American and American Royale. Royale formats introduce an additional sectors wheel that expands betting options, while the American variants highlight the double green with fully transparent odds. Operators benefit from flexible configuration, multiple odds formats and automated validations that ensure seamless and fair gameplay.

With this relaunch, GoldenRace confirms its leadership in the number games vertical and invites operators and players to discover a new era of spinning.

The post GoldenRace’s Spin2Win returns stronger appeared first on European Gaming Industry News.

Continue Reading

Latest News

Expanse Studios Secures Romanian Class 2 B2B Gaming License

Published

on

Reading Time: 2 minutes

Expanse Studios, a B2B iGaming content provider and subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), has been granted a Class 2 license by Romania’s National Gambling Office (ONJN), authorizing the company to distribute specialized gaming software across one of Europe’s fastest-growing regulated markets.

The license, granted under Decision No. 273, enables Expanse Studios to provide its portfolio of proprietary slot games, crash games, and casino content to licensed Romanian operators. This approval positions the company to serve a market that generated approximately €600 million in gross gaming revenue in 2024 and maintains one of Europe’s highest channelization rates at over 90%.

Strategic Entry into High-Growth Regulated Market

Romania represents one of Eastern Europe’s most dynamic iGaming jurisdictions, with internet penetration reaching 88% of its 19 million population and a regulatory framework that has attracted over 50 licensed operators. The market has demonstrated consistent growth, with total industry turnover exceeding €2 billion in 2023, reflecting a 15% year-over-year increase.

The Class 2 B2B license allows Expanse Studios to distribute content to Romania’s licensed B2C operators without establishing a Romanian entity or paying Romanian corporate taxes, while providing access to a market where mobile gaming dominates and player engagement continues to accelerate.

Romania’s stringent licensing requirements under Government Emergency Ordinance 77/2009 make ONJN approval a significant credential for B2B providers. The regulatory framework emphasizes technical compliance, player protection, and operational transparency—requirements that align with Expanse Studios’ existing European operations across 1,300+ casino brands.

“Securing ONJN approval validates our technical capabilities and regulatory compliance standards in one of Europe’s most demanding jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “Romania offers substantial distribution opportunities through licensed operators serving a tech-savvy player base with strong engagement metrics. This license strengthens our European B2B footprint and demonstrates our ability to meet the compliance requirements of mature regulated markets.”

Expanding B2B Distribution Infrastructure

The Romanian license complements Expanse Studios’ recent European partnerships, reflecting accelerating demand for the company’s content across regulated jurisdictions. With 56 proprietary titles including Super Heli, Titan Roulette, and Wild Icy Fruits, Expanse continues scaling its high-margin B2B operations across Europe, Latin America, and North America.

Romania’s market characteristics—including preference for mobile platforms, strong affinity for slot content, and established payment infrastructure—align well with Expanse Studios’ content portfolio and distribution model. The company’s games will be available to Romanian operators seeking certified, compliant content for their licensed platforms.

This license approval reinforces Golden Matrix Group’s broader strategy of expanding regulated B2B operations in jurisdictions with transparent licensing frameworks and sustainable growth trajectories.

The post Expanse Studios Secures Romanian Class 2 B2B Gaming License appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.