The Spanish gambling industry has recorded an increase of 23.6 percent year-on-year in gross gambling revenue during the third quarter of 2023 to a total amount of 304.3 euros.

However, that amount was slightly lower (2.7 percent) than what the industry managed to generate in the second quarter of 2023. Nevertheless, the figure recorded in the third quarter of this year represented a drastic increase from the 240.8 million euros that were recorded in the same quarter of 2022.

The casino segment was the main source of gross gambling revenue during the third quarter, with a total of 160.3 million euros generated. That figure represents an increase of 25.3 percent compared to last year and 52.7 percent of the whole gambling market in the country.

The live roulette sector managed to generate the highest amount of growth, with gross gambling revenue going up by 27.8 percent. The slots vertical also registered healthy growth, with gross gambling revenue increasing by 25.9 percent.

Blackjack also registered a good performance in the third quarter, growing by 11.5 percent compared to the previous quarter. Slots registered an 8.1 percent increase quarter-on-quarter, while live roulette grew by 5.4 percent. Conventional roulette did not manage to get a similar performance, though, its gross gaming revenue decreased by 2.2 percent compared to the second quarter of 2023.

Sports Betting Revenue on The Rise

Sports betting revenue also registered an increase of 22.7 percent year-on-year to 113.5 million euros and a share of 37.3 percent of the whole market. However, gross gaming revenue from pre-match bets fell 31.7 percent compared to the previous quarter and even in-play bets registered a 0.3 percent decrease. The product that registered enormous growth was fixed-odds betting, whose revenue went up by 46.1 percent compared to the second quarter.

The poker segment also managed to grow in the third quarter, its gross gaming revenue amounted to 26.8 million euros, an increase of 22 percent compared to the same quarter of last year and of 4.1 percent compared to the second quarter of 2023.

Bingo was the only vertical that registered a gross gambling revenue decrease, it slipped by 1 percent year-on-year to a total amount of 3.6 million euros. However, that figure still had a positive vibe as it was 2.9 percent higher than what was generated in the second quarter of 2023.

Spain had 78 licensed operators in the market during the third quarter, with 50 of them offering casino services, 42 active in sports betting, 9 in poker, three in bingo and two offering contests.

Source: “Spain gambling revenue jumps 23.6% to €304.2m in Q3“. iGaming Business. December 15, 2023.

The post Third Quarter Brings Gambling Revenue Increase for Spain appeared first on Keno Wizard.

The international gaming solutions provider, Intralot, released its latest financial update, uncovering details regarding its performance for the third quarter of 2023. Besides Q3 2023, the latest report shared insights regarding the company’s performance for the nine months ended September 30, 2023.

Intralot’s Q3 2023 revenue hit €104.8 million ($114.5 million). This result, compared to the €96.9 million ($105.8 million) reported for the same quarter in 2022, shows that this year, an increase of 8.1% is observed. On the other hand, gross gaming revenue (GGR) for Q3 2022 halted at €88.1 million ($96.2 million), while this year, it increased by 11.9% to €98.6 million ($107.7 million).

EBITDA in Q3 this year increased as well. The new financial update reveals that Intralot’s Q3 2023 EBITDA hit €38.2 million ($41.7 million). A comparison to the €33.0 million ($36 million) posted for the same period in 2022, shows that during the latest trading period, the company has seen growth of nearly 16% year-over-year.

While Q3 2023 revenue increased year-over-year, the results for the first nine months showed a slight decrease. The new financial report confirmed that Intralot’s revenue for the first nine months ended September 30, 2023, halted at €280.0 million ($305.8 million). This result, compared to the €301.7 million ($329.5 million) figure posted for the same period in 2022, shows a decrease of 7.2%.

While revenue decreased for the first nine months this year, GGR increased by 2.2% hitting €262.2 million ($286.3 million). Similarly, EBITDA for the first nine months of 2023 increased by 14.7% year-over-year, hitting €101.0 million ($110.3 million).

The Company Posted Strong Results, Says CEO and Chairman

Sokratis P. Kokkalis, Intralot’s CEO and chairman, spoke about the latest figures, explaining that the “results demonstrate Intralot’s new strengths returning to NET profits, strong EBITDA growth and cash flow generation, hence fulfilling all the goals we have set out.” He outlined that the company recently completed an important Share Capital Increase by raising funds for a total of €135.0 million ($147.4 million). Finally, Kokkalis said: “I would like to thank all the investors who participated and trusted our vision and capability to deliver even stronger results in the future.”

Another important achievement for the company after the recent trading period was the extension of its agreement with OPAP. Announced back in October, the agreement with OPAP was extended from August 2025 until the end of July 2026. Upon announcing the extended agreement, the duo unveiled that two one-year extensions are also possible.

The post Intralot Posts Strong Third Quarter Results with Revenue up 8% appeared first on Keno Wizard.

Super Group, the parent company of the multi-brand online casino, Spin, and the leading online sports betting and gaming operator, Betway, released Thursday its latest financial report. The company posted an increase in operational EBITDA, as well as revenue for the third quarter of this year or the three months ended September 30, 2023.

Overall, Super Group reported revenue of €356.9 million ($381.4 million) for the latest trading period. This result, compared to the €307.8 million ($329 million) reported for the same period in 2022, showed an increase of 16%. The leading betting and gaming company explained that the strong revenue comes after growth of the company’s operations in Europe, North America, Africa and the Middle East. Super Group said that the revenue was “partially offset by declines from the South/Latin America and Asia-Pacific markets.”

In its latest trading update, the company confirmed that operational EBITDA for Q3 hit €53.8 million ($57.5 million). This result also marked an increase when compared to the €49.6 million ($53 million) figure reported for the corresponding period last year.

According to the latest trading update, Super Group saw an uptick in its monthly active customers. The new report reveals that monthly active customers increased to 4.0 million in the third quarter of 2023. This result, compared to the 2.7 million monthly active customers reported in Q3 2022, marked an increase of 44%.

After the recent trading period, Super Group announced its withdrawal from the gambling sector in India. The announcement came at a time when the country increased its tax applicable for gambling activities. The global sports betting and gaming company identified this increase as an issue, causing its business in the country to be unsustainable which is why it decided to exit the market.

The Company Plans Further Growth and Expansion

Alinda van Wyk, Super Group’s CFO, commented on the recent results. “For the third quarter, we delivered ex-US Revenue of €348.9 million and ex-US Operational EBITDA of €64.1 million, which resulted in a strong margin of 18%,” she explained. The CFO added that the company remains dedicated to investing in its future growth and implementing cost efficiencies. In conclusion, Wyk said that despite some headwinds in Q3, Super Group reaffirmed its guidance for the rest of the year.

“Super Group has delivered yet another quarter of solid results, having achieved our highest ever revenue for a third quarter, as well as new all-time highs for both our customer numbers and deposits.“

Neal Menashe, CEO of Super Group

Neal Menashe, Super Group’s CEO, acknowledged that the company enjoyed another strong quarter with exceptional results. He explained that in Q3 this year, Super Group recorded its highest third quarter revenue along with an increase in monthly active customers. Finally, Menashe predicted further expansion for the company within the global iGaming vertical.

The post Super Group’s Third Quarter Revenue Increases by 16% to $381M appeared first on Keno Wizard.

Evolution, the world’s most powerful supplier of live dealer games for online casinos, has announced its financial results for the third quarter of 2023 and the numbers show record-breaking revenue for the company.

The company’s revenue during the third quarter amounted to 453.6 million euros, a figure which marks the best three months in the group’s financial history. The good result was mainly driven by the company’s live casino segment, which drove in revenue of 358.8 million euros during the quarter, representing a 24.3 percent increase.

Moreover, Martin Carlesund, the Chief Executive Officer of Evolution, revealed that the demand for live casino content is increasing at a rapid pace and that the supplier will have to open more studios in order to cope with the demand.

Evolution also registered a record in the third quarter when it comes to the number of games launched, but even so the company will have to increase its production capabilities in order to keep up with the demand.

Martin Carlesund revealed that the company is ready to open new studios and hire more staff on three continents: Europe, North America and Latin America. “We see a higher demand for our product than what we currently can deliver,” Carlesund explained, adding that the company has to “increase the pace of recruitment both in existing studios as well as to support new studios.”

The Evolution CEO also added that the company has already opened a live casino studio in Colombia at the beginning of the fourth quarter and revealed that they will open a new studio in Europe by the end of the year and three or four next year in Europe, North America and Latin America.

RNG Decline

The company’s random number generator games (RNG) segment did not do that well during the third quarter, registering a revenue drop of 1.9 percent to 66.8 million euros. Despite the decrease, the Evolution CEO says he remains optimistic because the RNG business has progressed in the third quarter.

“We are methodically and systematically moving our RNG business forward,” Martin Carlesund explained and added that the current focus is on improving the business “step-by-step.”

When it comes to geographical areas, the most lucrative one for Evolution remained Europe, which drew 175.1 million euros in revenue in the third quarter, a figure which represents an increase of 10 percent year-on-year.

However, Asia registered revenue of 172.1 million euros, a rise of 34.7 percent compared to the same quarter of last year. If the trend continues, Asia will most likely surpass Europe in the fourth quarter. North America generated 54.7 million euros in revenue for Evolution in the third quarter, while Latin America managed to draw 34.4 million euros.

Source: “Evolution eyes new studios to support live casino growth after record Q3“. iGaming Business. October 26, 2023.

The post Evolution Registers Record Revenue in Third Quarter of 2023 appeared first on Keno Wizard.

With the daily development of the iGaming industry, the numbers showing the increase or decrease in profits of a market are constantly changing. Spain is one of the markets that can boast improvement!

Spain’s gross gambling revenue (GGR) experienced substantial growth in the second quarter of the year, rushing by 55.1% year-on-year to reach €312.6 million. This strong performance was driven by substantial gains in sports betting earnings, which more than doubled during the period.

Total income for the quarter outpaced last year’s numbers and was also 2.5% higher than the first quarter, according to data released by Spain’s regulatory body, the Directorate General for the Regulation of Gambling (DGOJ).

Casino and Slot Machine Revenue Surge

Casino games, which are proven to be one of the most popular games, developed the highest GGR in Q2, totaling €149.9 million, marking a 27.9% boost compared to the previous year and a 4.5% rise from Q1. Slots stood out and its income saw a noteworthy growth of 29.9% year-on-year, while live roulette GGR increased by 8.9%.

The sports betting element witnessed the most impressive evolution, with GGR reaching €133.3 million, marking a staggering 118.9% boost from the previous year. Pre-event sports betting GGR also contributed and grew by 1.8% compared to Q2, while live betting GGR increased by 3.5%. Horse racing bets soared by 22.7%, although GGR from other sports bets fell by 15.1%.

Other Gaming Verticals

Poker GGR reached €25.8 million, a 27.6% increase from the previous year, although it was 5.8% lower than the first quarter. Tournament poker GGR was up by 38.1% approximated to Q2 of 2022, and cash poker GGR also saw a 4.9% increase.

However, Bingo GGR contributed and reached €3.5 million, up by 5.5% from the previous year and also 5.5% higher than Q2 this year. Contests GGR amounted to €140,000, a substantial 1,464.9% boost from last year, but it was 41.5% lower than Q2.

Marketing Expense and Player Activity

Player stakes rose by almost 20%, while withdrawals were 3.0% higher than in 2022 but 2.3% lower than in the first quarter. Licensees’ total marketing spend in Spain reached €96.6 million, with promoting spending up by 7.7% from last year, affiliate spending mounting by 56.2%, and sponsorship skyrocketing by 225.2%. However, promotions were down by 1.7%.

The number of active gaming accounts increased by 11.4% from the previous year to 1,134,993, while the monthly norm for new accounts fell by 3.0% to 102,804 users.

The DGOJ also reported that 78 licensees offered some form of gambling during Q2, with 43 presenting sports betting, 50 delivering casinos, nine contributing poker, three presenting bingo, and two offering contests.

Source: ”Spanish gambling revenue up 55.1% year-on-year to €312.6m in Q2”. iGamingBusiness. September 21, 2023.

The post Spain Market Quarter 2 Gambling Revenue Surges 55.1%! appeared first on Keno Wizard.

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.

The post EveryMatrix Enjoys Exceptional Second Quarter with Strong Results appeared first on Keno Wizard.