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Gentoo Media reports Q3 2024

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Gentoo Media Inc., now solely an affiliate-focused business, reports record high revenues for the 15th consecutive quarter

Gentoo Media Inc. presents its Q3 2024 financial report, with record-high revenue of EUR 30.4 million, up 35% year-over-year, marking the 15th consecutive quarter of growth. During the quarter, the company completed the spin-off of its Platform & Sportsbook division and formally rebranded from Gaming Innovation Group Inc. to Gentoo Media.

Q3 highlights

  • Gentoo Media reported all-time high revenues of € 30.4m, up 35% YoY, of which 12% organic growth.
  • EBITDA before special items reached €14.6m, with an EBITDA margin of 48%.
  • EBITDA after special items increased by 36% to €14.0m, with an EBITDA margin of 46% (46%).
  • EBIT reached €10.0m, with a margin of 33% (32%).
  • Focus on higher-value markets continued in Q3. Value of deposits increased 36% for the player base, while player intake reached 112,000, down 2% YoY.
  • Gentoo Media is now purely an affiliate-focused business after distribution of the Platform & Sportsbook division to shareholders on 30 September 2024.
  • Cash flow from operations will improve post-split, expanding capital allocation options moving forward
  • Gentoo Media is now better positioned to deliver meaningful returns and create substantial value for our investors.

Investor presentation and webcast

CEO of Gentoo Media, Jonas Warrer, will host a presentation of the Q3 2024 results via livestream at 09:00 CET today.

The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

The post Gentoo Media reports Q3 2024 appeared first on European Gaming Industry News.

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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Relax Gaming gets the party started with Groovy Knights Dream Drop

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Relax Gaming, the iGaming aggregator and supplier of unique content, has launched Groovy Knights Dream Drop, its latest slot release packed with funky features and lucrative jackpot potential.

Groovy Knights brings a fresh disco twist to the popular Dream Drop series, giving players the chance to spin their way to wins of up to 10,000x a Dream Drop jackpot worth up to €2 million, and if that wasn’t enough, brand-new Daily Jackpots as well.

Set across a vibrant 5×4 reel layout, Groovy Knights Dream Drop is designed to keep the energy high with features that include Knight Re-Spins, Walking Wilds, multipliers up to 100x, and a ‘second chance’ mechanic to keep players in the groove.

Landing one or more Knights triggers a Knight Re-Spin, where the funky knights dance across the reels, boosting wins and multipliers as they go. When two Knights meet, the Disco Knight Feature kicks in for even bigger rewards. Players looking to jump straight into the action can use the Buy Feature to guarantee an immediate Knight Re-Spin or a Disco Knight for maximum entertainment.

True to the Dream Drop name, the jackpot bonus can trigger on any spin when the word ‘Dream’ lands on the top row, giving players a shot at one of five progressive jackpots, including the new Daily Jackpot.

Relax Gaming continues to expand its award-winning portfolio with titles designed to deliver unique gameplay, innovative mechanics and market-leading jackpot experiences.

Kunal Patel-Smith, Game Production Director at Relax Gaming, said: “With Groovy Knights Dream Drop, we’ve brought together a fun disco theme with our proven Dream Drop mechanics and some fresh twists to keep players engaged. The combination of lively features, strong win potential, and a must-win jackpot makes this a standout addition to our growing Dream Drop family.”

The post Relax Gaming gets the party started with Groovy Knights Dream Drop appeared first on European Gaming Industry News.

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WA. Technology Launches New Global Sportsbook Managed Service

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Global iGaming solutions provider, WA. Technology has launched a new Sportsbook Managed Service to allow operators to improve their offering and maximise profitability through a team of industry-leading experts.
The latest service launched by the company provides sportsbooks with a more granular approach to their risk and trading strategy which will get the most out of their content, improving efficiency through improved profiling, reporting, and content management.
The team will finely analyse margins from sports, leagues, and events down to the market offering.
Available to sportsbooks around the world and compatible with any software provider via third-party technology, the aim is to achieve strong results for brands at a fraction of the price of hiring a full team.
The Sportsbook Managed Service brings a human approach to customer profiling by reducing risk exposure through rejected bet monitoring, stake factoring, and watchlist monitoring. The team will also ensure that available features are used to their full potential, including analysing cashout algorithms.
Using WA Technology’s experience of managing sportsbooks all over the world, the service targets the promotion of localised content, identifies inefficiencies or areas of concern to keep margins in line with competitors in the region, and provides regular reports and analysis to operators with changes made to strategy and the effect on performance.
The Sportsbook Managed Service has been offered to existing WA Technology platform clients for five years as part of other packages, but with increasing interest to provide this externally, this has been refined to be an individual offering to sportsbooks.
In-house, the team has managed a large number of clients across Brazil, Mexico, India, Eastern Europe, and Africa. Since launching the service, four sportsbooks have already joined and seen increased results.
The service is led by Commercial Director Dave Hickey and Risk & Trading Manager Niall Creevey, supported by a team of 24 people, with decades of experience in risk and trading, as well as operations staff who have been handpicked from tier one operators.
Dave Hickey, Commercial Director at WA. Technology commented on the new service: “We understand the high standards required to support an operator in a hugely competitive market, and that’s why our super team of highly experienced professionals is perfect for those brands looking to make immediate improvements.
“This market-leading Sportsbook Managed Service has a proven track record for in-house clients and has also been trialled externally on new brands across areas such as Africa, Brazil, and Eastern Europe to ensure that it works seamless in any territory, and that’s why we’re delighted to officially launch this and have already signed our first contracts.”
Niall Creevey, Risk & Trading Manager, added: “Our focus is to build on this successful offering by bringing it to the wider market and simplifying the lives of operators. Whether it’s short-term to help a new business or long-term due to the expertise at our disposal at a cost-effective amount, we increase the efficiency of a sportsbook through local knowledge and customer profiling, which is tailored specifically to the client’s needs and ultimately increases their profitability.”

The post WA. Technology Launches New Global Sportsbook Managed Service appeared first on European Gaming Industry News.

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ClearStake ditches the passport with launch of revolutionary new ID product

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ClearStake, the digital due diligence specialists for the iGaming industry, has released ID by Bank, a new player identity and verification product.

ID by Bank is designed to minimise operator exposure to identity fraud, while also significantly reducing the player drop-off when requesting physical ID documents.

The new product fundamentally changes the way operators can identify and verify players. By securely confirming name, address and date of birth in real time via a player’s banking app, ClearStake delivers a solution that meets the Gambling Commission’s requirements for electronic verification providers.

This innovation comes at a critical time for the industry, with operators facing rising levels of identity fraud, including false documentation, deepfake videos and face swaps generated by artificial intelligence. Meanwhile, opt-in rates for physical document scans also remain stubbornly low.

It is the first time such a product has been available to iGaming operators in the UK, dramatically streamlining compliance processes, increasing player opt-in rate and combating fraud.

Martin Burt, CEO at ClearStake, said: “We all know about the challenges around physical document requests, and how they adversely impact the customer experience at registration and for later life customer due diligence checks. This new product is a natural fit for the ClearStake solution, offering a pathway to something far more efficient, where players can be identified to the highest standards without needing to upload a passport or driver’s license. It’s a fundamental paradigm shift in how operators ID their players, and we’re excited to lead the way as the first to bring this to the iGaming industry.”

The post ClearStake ditches the passport with launch of revolutionary new ID product appeared first on European Gaming Industry News.

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