ISS ESG, a sustainability rating agency, has updated NOVOMATIC’s sustainability rating to C, marking it as one of the best companies within the electronics industry.

ISS ESG, which is one of the best sustainability experts along with Sustainalytics and Moody’s ESG Solutions, assessed Novomatic’s business, examining its environmental, economic and social performance. As usual, ISS ESG formed its rating based on approximately 100 industry-specific markers.

In October, ISS ESG upgraded NOVOMATIC’s rating to C. This places NOVOMATIC among the top 30% of electronics companies, aligning it with the likes of Apple, Dell and Hewlett-Packard.

NOVOMATIC reported that its business made significant headways in a number of areas, including the following:

• Employees and suppliers
• Society and product responsibility
• Corporate governance and business ethics 

Sustainability Means a Lot to NOVOMATIC

NOVOMATIC addressed the matter, saying that ESG is an integral part of its corporate strategy. The company noted that it remains bullish on making continuous improvements as part of its comprehensive sustainability program.

NOVOMATIC board member Ryszard Presch echoed this sentiment, saying:

As an international gaming technology group, we have always assumed social responsibility and act conscientiously and transparently in all areas of our business.

Ryszard Presch, board member, NOVOMATIC

Johannes Gratzl, another board member, thanked ISS ESG for its recognition. He praised the top rating, highlighting its importance to the company.

With this rating, we have made a great leap forward, and our level of transparency is now at the highest level. We are also well above the industry average when it comes to the core issue of working conditions and standards.

Johannes Gratzl, board member, NOVOMATIC

This is not the first time NOVOMATIC’s sustainability efforts have been recognized. Previously, NOVOMATIC emerged as the industry winner of PwC’s ESG Ranking 2023.

In September, NOVOMATIC published its H1 results, reporting strong growth across multiple metrics. The company’s EBITDA increased in all markets where it operates, highlighting the strength of its business.

The post ISS ESG Improves NOVOMATIC’s Sustainability Rating to C appeared first on Keno Wizard.

The Investors Service of the credit rating agency Moody’s has upgraded the credit rating of Melco Resorts & Entertainment, a major Asian casino company. Previously negative, the company’s rating has now been updated to Ba3, signifying its improving stability.

The update comes in the wake of the publishing of the quarterly results of Melco’s City of Dreams operator brand. The Q3 results of City of Dreams were positively impacted by the favorable conditions in the special administrative region of Macau, which continues to recover from the pandemic.

The recovery of the local market also meant an uptake in business. An uptake in the VIP segment suggests that its GGR may return to 36% of the 2019 level by 2024. The current tailwind is exactly what led Moody’s to improve Melco’s rating, Gloria Tsuen, a Moody’s vice president and senior credit officer, confirmed.

According to Tsuen, Melco’s financial leverage should improve “significantly” over the upcoming 12-18 months.

Melco Needs to Work Harder to Reach Investment-Grade Rating

Despite its favorable outlook, Melco is yet to fully recover from the effects of the pandemic and China’s Zero-COVID policy. 2022 saw the company lose a whopping $100 million and face significant business and financial challenges. However, the company is optimistic that 2023 and 2024 will be where it turns things around.

The Asian casino giant expects EBITDA to increase to $900 by the end of the current year and to $1.4 million in 2024.

Tsuen added that a factor her team considered when improving Melco’s rating was its $1.2 billion in cash, which the company can use to address its liabilities. In addition, Tsuen pointed out to Melco’s impressive Macau portfolio which poises the company for quick recovery.

However, Melco will need to demonstrate better results if its rating is to be improved further. Going beyond the serviceable Ba3 result and reaching investment-grade will be a matter of bolstering the company’s EBITDA to at least 4.5x-5x.

However, the reverse is also possible, Moody’s warned, noting that Melco’s rating might be lowered if its adjusted EBITDA returns to 5.5x-6x or if the company’s liquidity weakens. These theoretical factors could potentially impede the company’s recovery and make it unable to reduce debt.

Moody’s isn’t the only agency that trusts in Melco’s ability to recover. Earlier this year, Credit Suisse raised the rating of Melco Resorts to buy, because of a variety of positive catalysts. The better-than-expected recovery in Macau was also Credit Suisse’s reason to improve Melco’s outlook.  

The post Moody’s Improves Melco’s Rating amid Strong Recovery in Macau appeared first on Keno Wizard.

mkodo limited, the renowned business-to-business supplier of mobile and front-end technology catering to the growing online gaming and betting sector, announced a new geolocation technology deal. On Thursday, the company confirmed it joined forces with the fast-growing iGaming operator, Rhino Entertainment, agreeing to power its operations in Ontario, Canada.

Under the terms of the new deal, mkodo agreed to grant the operator access to GeoLocs, its leading geolocation verification service. Thanks to the new partnership, Rhino will leverage the new solution, powering its offering for customers in Ontario on CasinoDays.com.

Per the new agreement, the iGaming operator will boost its verification capabilities, offering its clients a seamless experience. Besides improving verification, GeoLocs helps strengthen safety and security, enabling operators to fight against fraud attempts as well.

Stuart Godfree, mkodo’s managing director, revealed that the company is excited to join forces with another fast-growing online gambling operator for the market in Ontario. He spoke about Rhino’s growing position within the regulated gambling sector, outlining that mkodo is “excited to support its journey in the province and expansion throughout the rest of North America.”

“We’re proud to support another fantastic operator as it establishes itself in Ontario’s iGaming market, providing Rhino Entertainment’s players with a seamless UX when verifying their location.“

Stuart Godfree, managing director at mkodo

The Geolocation Solution Strengthens the Operator’s Offering

Ross Parkhill, Rhino’s CEO, shared the excitement of mkodo’s boss. According to him, the new collaboration enables the company to elevate the experiences for its growing customer base in Ontario, strengthening its geolocation verification capabilities at the same time. Parkhill predicted that the partnership will deliver seamless and secure experiences for online players in Ontario. “We’re excited to offer our players the best UX, in terms of location verification, in Ontario,” he explained in conclusion.

“By partnering with GeoLocs and its geolocation verification service to elevate our offering in Ontario, we are confident that we will offer our players in the province a seamless and secure experience, while also meeting the regulatory demands of the province.“

Ross Parkhill, CEO at Rhino Entertainment

Leveraging GeoLocs, Rhino enables its customers to seamlessly verify their location without the need to download a companion app. This applies to customers who access the operator’s services via mobile and desktop devices.

The innovative technology requires the users to only give permission to casinodays.com to verify their location. Undoubtedly, GeoLocs will strengthen the iGaming operator’s offering after going live for players in Ontario earlier this year.

The post Rhino Entertainment Improves Geolocation Verification in Ontario appeared first on Keno Wizard.

DAZN Group, a global sports entertainment company, unveiled the launch of DAZN 1 HD in the United Kingdom and Ireland. The programming will be available on channel 429 on Sky, DAZN announced. The launch comes just in time for the highly-anticipated return of Anthony Joshua.

Prior to the legend’s return, DAZN 1 HD will shower fans with exciting content, allowing them to catch up with the latest developments in UK boxing. The channel’s 24/7 schedule includes many fan-favorite matches and will engage fans with some of the best moments in boxing. UK fans will also get to enjoy content from a rich variety of MMA and other combat sports leagues.

The programming will also include DAZN’s “trailblazing tie-up” with KSI’s Misfits Boxing – the X Series. The boxing crossover features some of the most influential names in entertainment, sport and lifestyle headlining major fight nights.

In addition to combat sports, DAZN 1 HD will provide customers with broadcasts from women’s soccer leagues. Furthermore, DAZN’s audience will be able to enjoy many emerging sports, including Streetleague Skateboarding, esports and extreme sports.

Meanwhile, the DAZN app will continue to provide fans with on-demand content and exclusive DAZN Bet offers.

DAZN Wants to Make Sports Accessible and Engaging

Shay Segev, DAZN Group’s chief executive officer, commented on the launch of DAZN 1 HD. He said that distributing DAZN is very important to his team, which is committed to delivering content to more and more fans.

We have ambitious, long-term and strategic plans for the UK market. The more people get to know Dazn and what we offer, not just in terms of rights but the full range of digital, interactive and sports entertainment we are developing, the better.

Shay Segev, CEO, DAZN Group

Segev added that the launch will optimize the company’s exposure before Joshua’s return and will make the upcoming bout as accessible as possible.

Joshua, who is a shareholder, special advisor and brand ambassador for DAZN, also commented on the agreement. He praised DAZN for its hard work to usher in a new age of sports broadcasting. He noted that the launch of DAZN 1 HD will make it easier for fans to see his new match.

It’s a huge element of why I wanted to commit my long-term future to the platform. The launch of DAZN 1 HD on channel 429 will make it even easier for fans to access my return to the ring on Saturday 1 April against Jermaine Franklin. Make sure you tune in for a spectacular night of boxing.

Anthony Joshua, professional boxer and ambassador for DAZN

Sports fans can now sign up and subscribe to DAZN HD 1. The programming begins on March 23, allowing fans to warm up before Joshua’s game.

The post DAZN Improves Accessibility with DAZN 1 HD appeared first on Keno Wizard.