The Rank Group released its latest interim results, uncovering details regarding its progress over the six months ended December 31, 2023. The company referred to the period as H1 2023/24, with results pointing to an increase in net gaming revenue (NGR) year-over-year. Besides financial data, Rank Group released details regarding its expectations for 2024 in key markets.

Focusing on the UK, John O’Reilly, the company’s chief executive, explained that the business is positioned well for further growth, boosted by the upcoming regulatory changes within the retail gambling sector in the country. The changes are expected to come into effect at some point this year, according to the company, possibly around the summer. “These reforms cannot come soon enough in enabling us to modernize our proposition to better meet our customers’ expectations,” added O’Reilly.

“We are well positioned to optimize the opportunities afforded by the UK Government’s planned land-based regulatory reforms which will hopefully be implemented through the passing of secondary legislation in the summer of 2024.“

John O’Reilly, chief executive of The Rank Group

Last year, the Gambling Act review white paper was released, outlining a number of suggestions that are expected to completely overhaul the gambling industry across the country. Among the proposed changes are the implementation of limits for online slots, changes in the ratio of B and C gambling devices, as well as implementation of affordability checks, among other improvements.

Yet, so far the government hasn’t set a deadline for the implementation of the changes, while consultations with stakeholders on certain topics are still ongoing. Ultimately, the review of the Gambling Act 2005 is expected to ensure that the laws in the country fit the digital age.

The Company Posts Strong Results Despite Challenges

When it comes to financial results, Rank Group posted £362.6 million ($460 million) in NGR for H1 2023/24. This figure, compared to the £338.9 million ($430 million) reported for the corresponding period a year ago, showed an increase of 7%. Additionally, Rank Group confirmed that its operating profit for the latest trading period was £16.2 million ($20.6 million).

“Whilst it remains a challenging economic environment, we are positive about the future and expect LFL operating profit for the year ending 30 June 2024 to be in line with our expectations,“

reads a statement released by The Rank Group

While the company acknowledged that the economic environment remains challenging, it was still optimistic about its future performance. Rank Group said that it anticipates its upcoming financial results for the year ending June 30, 2024, to coincide with its initial expectations.

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While DraftKings was the last operator to secure one of the coveted Maine sports betting market slots, its first weekend online was wildly successful, netting it over $3.4 million in profits. Such results are not uncommon for high-profile launches and should help the operator secure a substantial market share against competitors like Caesars.

The Operator’s Late Arrival Did Not Affect Profits

DraftKings announced its plans to enter Maine on 1 November, just days before the state officially launched sports betting. The operator partnered with the Passamaquoddy Tribe to launch a sports betting app in the Pine Tree state and quickly secured the required licensing and regulatory approvals. Both parties were excited regarding the collaboration, hoping to achieve long-term success.

Despite DraftKings’ last-minute entry into the online market, preliminary results show significant promise. Friday to Sunday saw the operator achieve roughly $3,406,000 in profits, marking an impressive start to its operations. DraftKings paid out $2.57 million in winnings to its customers and $82,000 in taxes, still leaving it with a substantial amount.

While these results mark an impressive start to the operator’s online presence in the state, DraftKings must focus on customer retention to preserve its momentum. Its industry-leading features like in-game betting, pre-match, same-game-parlay options created in-house, and signature options should bolster customer engagement and help it stand out amidst other high-profile operators.

Caesars Sportsbook Represents Significant Competition

Caesars Entertainment likely represents DraftKings’ primary rival in the region. The company was among the first to express interest in entering Maine’s online betting market and forged a partnership with three of the Wabanaki Nations: the Houlton Band of Maliseet Indians, the Mi’kmaq Nation, and the Penobscot Nation, launching its flagship sports wagering platform, Caesars Sportsbook.

This extensive collaboration furthered the operator’s longtime commitment to supporting Indian gaming and may be instrumental to its success in Maine. Caesars has not yet posted official data regarding its launch. However, securing a substantial market share in the state should bolster the company’s strong Q3 momentum and reaffirm its leadership position in North America.

As Maine’s online sports betting market gets off the ground, operators will spend the first few months jostling to establish a market niche. Regardless of who emerges as the industry leader, players can now support their favorite teams in new and engaging ways. Meanwhile, the substantial investments and increased tax revenue should significantly benefit local communities.

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One of the biggest international producers and operators of gaming technology, NOVOMATIC, released its latest interim financial report. In its latest report, the company revealed details regarding its performance for the first half of 2023, or the six months ended June 30, 2023, posting strong growth of revenue and EBITDA, as well as an increase in its number of employees.

Overall, NOVOMATIC posted total revenues of €1.58 billion ($1.7 billion). This result, compared to the €1.32 billion ($1.42 billion) figure from the corresponding period in H1 2022, marked an increase of 20%. EBITDA for the first half of this year hit €386.1 million ($414.9 million), up by 3.9% year-over-year.

Further details released by NOVOMATIC reveal that the operating profit (EBIT) increased as well. The latest financial report unveiled that operating profit this year hit €197.8 million ($212.6 million), representing growth of 22% year-over-year when compared to the €162.1 million ($174.2 million) figure from H1 2022.

NOVOMATIC’s recent interim financial report reveals that the company expanded its workforce as well. For the first half of 2022, NOVOMATIC had 21,721 employees. For the corresponding period this year, the average number of employees at the company increased by 13.2% to 24,590.

“In the first half of 2023, the NOVOMATIC AG Group generated €1,582.6 million in revenues, compared to €1,319.1 million in the same period of 2022. The increase in revenues of €263.6 million (+20.0 percent) is due to the good performance and demand for NOVOMATIC products as well as the acquisitions made,“

reads the new interim financial report released by NOVOMATIC

NOVOMATIC Enjoys Revenue Growth Across All Markets

A breakdown provided by the company revealed that it enjoyed strong growth across all of the markets where it operates. The biggest growth was reported by NOVOMATIC’s Italian operations where revenue increased by €99.9 million ($107.3 million), followed by Germany where it was €49.4 million ($53.1 million) more when compared to H1 2022. The company’s Eastern European operations saw €29.8 million ($32 million) more in terms of revenue, while in Austria, the revenue grew by €21.8 million ($23.4 million).

Within the online sector, NOVOMATIC posted a revenue increase of €21.7 million ($23.3 million) for the first half of this year, while markets within Other Regions saw an uptick of €15.1 million ($16.2 million). In the UK, NOVOMATIC’s revenue increased by €12.6 million ($13.5 million), while for the Netherlands and Spain the company posted an increase of €8 million ($8.6 million) and €5.2 million ($5.6 million) respectively.

After the recent trading period, in July, NOVOMATIC’s African Unit, NOVOMATIC Africa, introduced changes to its management-level team. At the time, the company unveiled it added Sonya Nikolova to its board of directors and confirmed that Alexander Merwald and Muriel Loftie-Eaton will continue to hold their board of directors roles.

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The business-to-business (B2B) iGaming technology provider, EveryMatrix, released its second quarter results, posting the seventh consecutive record quarter with an increase in profit margin and revenue. The latest financial update reveals that the company’s net revenue in Q2 this year hit €27 million ($29.4 million), marking a year-over-year growth of 82%.

Similarly, EveryMatrix’s EBITDA for the second quarter of this year soared. Judging by the recent trading update, the company posted an EBITDA of €15 million ($16.3 million). This result, when compared to the corresponding period in 2022 marked an increase of 188%.

The results represented not only an increase year-over-year but quarter-on-quarter as well. The revenue posted for the latest trading period was up 15% quarter-on-quarter while EBITDA for the second quarter increased by 42% when compared to Q1 2023.

EveryMatrix revealed that during the record-breaking quarter, all of its business segments saw exceptional results and growth. This includes its Casino, Sports and Platform, reaffirming their success, potential and growing position within the global gambling sector.

A breakdown provided by EveryMatrix revealed that its Casino net revenue in Q2 this year hit €12.6 million ($13.7 million), up by 83% when compared to the same period last year. Similarly, the company’s Platform business saw a year-over-year net revenue increase of 85%. Additionally, EveryMatrix’s Sports business arm posted gross gaming revenue of €57 million ($62.1 million), an increase of 137% year-over-year.

The Latest Results Bring Excitement to EveryMatrix

Besides the financial results, the company highlighted multiple important achievements completed in Q2 2023. During the latest trading period, EveryMatrix signed 26 new contracts within eight regulated gambling markets. Its LotteryEngine solution has gone live with its first partner, the Malta National Lottery.

Moreover, EveryMatrix expanded its portfolio of partners with more than 50 new clients under the acquisition of DeepCI. During the second quarter of this year, the company has also gone live with WynnBet and DraftKings in the United States, among other important achievements and milestones.

“This business, and our team of more than 750 people across 12 countries, continue to amaze me every day generating consistent, record growth and profitability for our customers who continue to benefit from the industry’s best casino, sports, and platform products.“

Ebbe Groes, Group CEO of EveryMatrix

Ebbe Groes, EveryMatrix’s Group CEO, spoke about the dedication and consistent efforts of the company’s growing team of experts that helped it achieve another record quarter. He highlighted the importance of EveryMatrix’s partners that leverage its engaging betting, casino and platform products.

Groes added that an important goal for the company is to deliver quality services and solutions, powering the growth of its partners. Finally, he predicted further growth and expansion for EveryMatrix.

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Each year, the Austrian Brand Value Study evaluates businesses and companies in the country, compiling a top 10 list. Within the 2023 ranking, some 180 Australian brands and companies within 16 different industries were probed. The latest Austrian Brand Value Study by the European Brand Institute ranked the leading international provider of gaming technology, NOVOMATIC, among the most valuable brands in the country.

NOVOMATIC ranked second within the new list and also achieved fourth place in the Sustainable Brand Ranking with an AAA rating. The latest ranking recognizes the company’s commitment to growth, dedication to strategic corporate responsibility, as well as ESG programs. In fact, the top 10 most valuable brands list acknowledged NOVOMATIC’s brand value increase of 13.6% for a single year, the most out of any of the brands on the list.

“NOVOMATIC ranks second among the country’s most valuable brand companies in the current Austrian Brand Value Study of the European Brand Institute (EBI) and also achieves an excellent 4th place in the Sustainable Brand Ranking with an AAA rating,“

reads a statement released by NOVOMATIC

The Company Continues to Grow

Johannes Gratzl, NOVOMATIC’s executive board member, shared his excitement about the latest recognition. He explained that the recognition reaffirms the success of the company’s sustainable corporate strategy and commitment to responsible growth and expansion. “Sustainable brands create trust and are an important basis for our business success against the background of the increasing importance of the sustainability dimension,” outlined Gratzl in conclusion.

“The excellent rankings in both the brand value and the sustainable brand ranking once again prove the success of our sustainable corporate strategy, according to which success can only be achieved by embracing our responsibility.“

Johannes Gratzl, executive board member at NOVOMATIC

Around the globe, the company has approximately 23,900 employees. What’s more, NOVOMATIC has a presence in more than 100 countries, and it is famous as the leading gaming technology group for the Old Continent which increased its brand value to €3.45 billion ($3.74 billion). The only company that leads NOVOMATIC within the new top 10 Austrian brands list was the globally-recognized Red Bull.

Earlier this year, NOVOMATIC was recognized for its innovative products in the latest edition of GAT Cartagena. At the leading event for the Latin American market, the company announced the launch of its innovative NOVOVISION casino management system featuring unique biometric technology.

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The provider of iGaming software, content, solutions and services for sports betting and online gambling operators, EveryMatrix, released its latest trading update, revealing data regarding its performance for the first quarter of 2023. The new figures show that between January 1 and March 31, 2023, the company has seen a strong financial performance that marked quarter-over-quarter and year-over-year increases in multiple operating segments.

EveryMatrix revealed that for the first quarter of this year, its net revenue hit a record €23.5 million ($26 million). This result, when compared to the corresponding period in 2022, marked an increase of 69%. Additionally, when compared to the previous quarter, the recent net revenue result represented a strong 21% growth.

Additional data released by EveryMatrix reveals that EBITDA in Q1 2023 increased as well. When compared to last year’s result of €4.8 million ($5.3 million), EBITDA for the first quarter this year hit €10.5 million ($11.6 million), representing a staggering 119% increase. According to EveryMatrix, “EBITDA/Net Revenue margin rose to 45% driven by strong growth and successful cost control.”

Strong Financial Growth, Backed by Multiple Achievements

Ebbe Groes, EveryMatrix’s group CEO, was excited about the recent trading update. He pointed out that the company continues to enjoy record performance, and this represents the efforts of its dedicated team.

“I’m very proud of all our business units and their teams who are relentlessly driving quarter-on-quarter growth for the business and for our partners across all areas,” said Groes. The CEO revealed that EveryMatrix plans to continue to deliver its leading services to a growing list of partners around the globe. Groes hinted that the company plans multiple large-scale projects.

“I’m more excited than ever for the future growth of EveryMatrix, with new omnichannel agreements being signed, and new, innovative gamification features set to create even more value for our operator partners.“

Ebbe Groes, group CEO at EveryMatrix

Besides the financial achievements, the company highlighted multiple milestones it accomplished in Q1 this year. During the first quarter, EveryMatrix inked an important agreement in Croatia, joining forces with a tier-1 operator and penned 14 new affiliate platform deals. Moreover, in the first quarter, the company launched bet-at-home.com and confirmed it anticipates the launch of launch bet-at-home.de at some point in Q2 this year.

Overall, EveryMatrix enjoyed strong growth in North America during the first quarter of this year. It secured its fifth North American license from Connecticut. This expanded the company’s footprint in the region after it received licenses in Ontario, Canada, as well as New Jersey, Michigan and West Virginia.

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