Boyd Gaming, the leading online and land-based gambling operator with a strong US presence, released its financial results for the fourth quarter and full year ended December 31, 2023, pointing to strong growth in revenue. The latest unaudited report emerged Thursday and saw the company report $954.4 million in total revenues for Q4 2023. Compared to the $922.9 million result for the corresponding period in 2022, the latest result shows an increase of more than 3%.

The latest trading update reveals that Boyd Gaming posted $92.6 million in net income for the fourth quarter, representing $0.94 per share, a slight dip when compared to the Q4 2022 result of $172.7 million in net income or $1.63 per share. The total adjusted EBITDAR reported by the company for the fourth quarter of 2023 was $355.5 million, while adjusted earnings were $163.8 million.

A breakdown provided by Boyd Gaming revealed that its gaming and online segments were responsible for the lion’s share of the revenue in the fourth quarter. The total gaming revenue reported by the company in Q4 2023 hit $647.1 million, a result that was slightly below the $653.9 million figure from Q4 2022.

Yet, Boyd Gaming’s revenue from the online segment hit $124.1 million, up by $34 million when compared to the $89.7 million in online revenue reported for the corresponding period the prior year. The company explained that its online segment was positively impacted by the introduction of sports betting in Ohio dating back to January 2023.

In Q4 2023, Boyd Gaming posted food and beverage as well as room revenue of $75.5 million and $50.6 million respectively. Those results were on par with the Q2 2022 figures. Management fees and other revenues for the period were some $56 million.

Online Segment Boosts 2023 Total Revenue

When it comes to the 2023 results, Boyd Gaming also posted strong growth. According to the new report, the company’s total revenue hit $3.74 billion for 2023, a significant increase when compared to the $3.56 billion result for the prior year.

Not unexpectedly, gaming was responsible for the lion’s share of the revenue, a total of $2.61 billion, a result that was only slightly below the 2022 figure. However, the company’s online revenue for 2023 hit $422.2 million, completely surpassing the $254 million result from 2022.

“The fourth quarter’s strong performance was a fitting conclusion to another record year for our Company.“

Keith Smith, president and CEO of Boyd Gaming

Keith Smith, Boyd Gaming’s president and CEO, highlighted the strong performance of the company during the fourth quarter of 2023. He explained that the outstanding results are a testament to the diversification of the company’s portfolio in combination with strong investments and returns. “Our management teams continued to demonstrate their ability to efficiently manage the business, achieving property-level operating margins above 40% for both the fourth quarter and full year,” added Smith. Finally, he predicted further growth for Boyd Gaming on a global scale, efforts that are also expected to create long-term shareholder value.

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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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The leading business-to-business provider of solutions, technology and content, powering the growing betting and gaming industry, Evolution, released its latest trading update. Published on Thursday, the latest report shares insights regarding the company’s performance for the third quarter and first nine months of this year.

Undoubtedly, Evolution had a busy third quarter, considering that its operating revenues hit €452.6 million ($476.9 million) for the period between July and September this year. This figure, when compared to the €378.5 million ($398.8 million) result posted for the same period in 2022, represents an increase of 19.6%.

EBITDA in Q3 this year hit €318.6 million ($335.9 million), marking an increase of 22.1% when compared to the EBITDA result from the corresponding period last year. Similarly, operating profit soared by 21.5%, hitting €287.1 million ($302.5 million) when compared to Q3 in 2022.

In its latest report, Evolution confirmed that cost-effective measures in combination with high demand helped generate an EBITDA margin of 70.4% in Q3 this year. Additionally, the company reminded that during the quarter it launched its second studio for the Latin American region. According to the latest trading update, Evolution is on track to exceed its initial plan for releasing more than 100 games through the end of the year.

Martin Carlesund, Evolution’s CEO, shared his excitement about the latest figures. He explained that in Q3, the company posted strong financial results and outlined that the “underlying growth drivers for the business remain solid.” Carlesund explained that during the recent quarter, Evolution released most games out of any quarter for the year so far. “A strong development that I am pleased with as entertaining games and a flawless player experience are the absolute most important factors for our long-term success,” he added.

The Company Plans to Open New Studios

When it comes to live casino, Carlesund explained that its revenue grew to €385.8 million ($406.5 million) for the third quarter of this year. He revealed that Evolution identified an increase in the demand for such products. According to Carlesund, a priority for the company will be investing in its network and expanding the number of its locations.

Acknowledging the opened studio in Colombia during Q3, the CEO said that Evolution plans to open a new studio in Europe later this year as well. He added that the company anticipates expanding further the number of its studios next year with three or four locations across Latin America, North America, as well as Europe.

Focusing on the bigger picture, the new report revealed that Evolution enjoyed strong growth for the first nine months of the year. Overall, the company’s operating revenues between January and September this year hit €1.32 billion ($1.39 billion), up by 26.1% year-over-year. Not unexpectedly, operating profit for the period increased as well, hitting €840.1 million ($995 million), marking a 27.7% increase when compared to the same period in 2022.

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Globally recognized gambling operator Grupo Codere published its latest trading update, outlining details regarding the company’s performance for the first quarter of 2023. On Friday, the company released its latest report, revealing that its total revenue in Q1 2023 hit €350 million ($375.5 million). This result, when compared to the corresponding period in 2022, marked a solid increase of 19%.

Not unexpectedly, with the increase in revenue, Codere saw an uptick in adjusted EBITDA. For the first quarter of this year, adjusted EBITDA hit €65 million ($69.7 million), up by €13 million ($13.9 million) when compared to Q1 last year. Additionally, the latest results revealed that Codere’s adjusted EBITDA margin for Q1 2023 was 19%, representing 1% growth when compared to the margin from the same period in 2022.

In addition to the figures related to the company’s financial performance for the first quarter, the company reminded of its new plan that seeks to create value for its shareholders. Per that plan, Codere confirmed it will leverage an injection of some €100 million ($107.3 million) to supercharge its growth and “return to value creation in all the geographies in which it operates.”

The strong start of 2023 comes after only recently, the company released its 2022 financial results. Those figures showed solid growth of the company’s revenue by 67.5% to €1,31 billion ($1.44 billion).

The Company Enjoys Strong Growth in Latin America

Codere provided a breakdown of its €350 million ($375.5 million) revenue per market. This breakdown revealed significant growth in the company’s Latin American-facing operations. In Mexico, Codere’s revenue for the first quarter this year soared by 31% to €65 million ($69.7 million). A similar growth of 19% to €87 million ($93.3 million) was reported by Argentina on a year-over-year comparison.

While those markets saw an increase in revenue, in Colombia, Codere’s registered revenue for the first quarter this year dipped. Overall, the company’s operations hit €4.5 million ($4.8 million) in revenue for Q1 2023, representing a decrease of 10% when compared to Q1 last year.

Within its home market, Spain, Codere performed well at the start of the year. Its revenue for this region increased to €46 million ($49.4 million), up by 6% year-over-year. In Italy, which is another important market for the company, the revenue jumped by 5% year-over-year, hitting €72 million ($77.2 million).

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Global gaming solution provider Aristocrat Leisure has reported positive financial results for the first half (H1). The company’s focus on diversifying its portfolio through strategic acquisitions is already paying dividends, ensuring fiscal stability despite macroeconomic pressures. North American operations performed exceedingly well, justifying further investments in the region.

Revenue Growth Retains Its Momentum

Aristocrat’s H1 2023 earnings call showcased a robust performance across most verticals as the company delivered solid financial growth. In the six-month period ending 31 March, revenues reached $3.08 billion, a 12.2% increase compared to last year. EBITDA also fared well, rising 5.7% to $1.03 billion, showcasing the company’s solid foundations.

Pre-tax profits soared by 42.6%, reaching $852.8 million. Even the post-tax figure of $653 million was impressive, giving Aristocrat substantial leeway to pursue further growth opportunities through strategic investments. Overall, the company continues to ride its 2022 momentum, accelerating in its core markets and setting the stage for new partnerships and continued expansion.

The USA Emerged as a Leading Market

Aristocrat Leisure’s North American operations have been a key growth driver, capitalizing on increased consumer spending and a resurgence in demand for gaming products and services. Frequent high-profile partnerships helped the company establish a presence in over 55% of the US iGaming market. Aristocrat hopes to raise that figure to at least 70% within five years, solidifying its leadership position.

Anaxi, the company’s real money gaming (RMG) division, performed spectacularly well, more than justifying 2022’s $42 million invested in its operations. Its collaborations with leading operators like Caesars and FanDuel were a testament to the quality of its content. Aristocrat CEO and managing director Trevor Croker highlighted the importance of the online segment and Anaxi’s vital contributions to the group.

Our newest operating business, Anaxi, delivered on its initial market entry commitments and established sound foundations for growth.

Trevor Croker, Aristocrat CEO, and managing director

The impressive H1 financials should allow Aristocrat to pursue additional growth opportunities. The group recently announced its proposed acquisition of iGaming and iLottery solution provider NeoGames. If successful, the deal will significantly expand Aristocrat’s global reach and bolster the company’s RMG ambitions. Such strategic investments are vital to Aristocrat’s long-term performance and ability to remain competitive in the saturated supplier market.

The benefit of our investment to grow and diversify Aristocrat’s revenue base was particularly evident in our ability to deliver solid revenue growth and stable EBITDA…

Trevor Croker, Aristocrat CEO, and managing director

The 26.4% rise in Aristocrat’s US segment contrasts the relative stagnation in its Australia and Pixel United divisions and will shape its ongoing strategy. With a strong track record and a commitment to continuous improvement, Aristocrat Leisure is well-positioned to capitalize on future opportunities and thrive in a dynamic market environment.

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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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Leading business-to-business (B2B) solutions provider for the iGaming industry Evolution released its results for the first quarter of 2023. Judging by the latest figures, between January and March this year, the company reported strong growth with operating revenue hitting €429.6 million ($474.4 million). This result, when compared to the corresponding period in 2022 when the operating revenue halted at €326.8 million ($360.9 million), marks an increase of 31.5%.

The latest financial update revealed that EBITDA in Q1 2023 hit €300 million ($331.3 million), up by 30.7% when compared to the €229.7 million ($253.7 million) result from the same period last year. The EBITDA margin for the first quarter of this year was 69.9%, compared to the EBITDA margin of 70.3% from Q1 2022.

Additionally, the interim report revealed that Evolution’s operating profit soared in Q1 this year. Overall, the operating profit hit €271.5 million ($300 million), representing a 31.1% increase when compared to the Q1 2022 result of €207.1 million ($228.7 million). Earnings per share before dilution increased by 27.1% to €1.18 ($1.30).

Growing on a global scale, resulted in the company increasing its headcount. According to the new interim report, at the end of Q1 2023, the company had 17,331 employees. Comparing that result to the same period in 2022, showed an increase in the headcount of 21%.

A Stellar Start of 2023 for Evolution

Martin Carlesund Evolution’s CEO, shared his excitement about the latest figures, acknowledging that the company enjoyed a strong start to the year. He pointed out that there are challenges from 2022 that the company continues to face every day.

Still, Carlesund stressed that Evolution has seen strong demand for its products and services from new and existing clients. The company’s CEO acknowledged that its new games have also enjoyed a positive momentum in Q1 this year.

“I remain convinced that we can perform better in the RNG area, and we are working hard to improve. The underlying growth drivers for online casino are solid and I am happy with the start of 2023.“

Martin Carlesund, CEO of Evolution

Carlesund added that nearly 84% of the company’s revenue in Q1 this year came from live casino games, while RNG contributed to the rest of the revenue. He said that Evolution’s live casino segment grew significantly by 36.1%, which resulted in strong revenue results.

According to the CEO, one of the highlights of the quarter was the debut of the company’s jackpot functionality in certain jurisdictions in North America. He outlined that in Q1 2023, Evolution released 18 RNG titles. However, Carlesund added that more than 100 games are planned to be released this year.

The Company Enjoys Growth in Strategic Markets

Evolution provided a breakdown of its €429.6 million ($474.4 million) revenue per region. Unsurprisingly, the company performed well in all strategic markets. Europe remained the region with the highest revenue for the first quarter of 2023, which hit €173.7 million ($191.8 million). The company’s Asia-facing operations performed well too, with revenue hitting €154.0 million ($170 million) in Q1 2023.

Evolution’s North American operations saw €57.3 million ($63.3 million) in revenue while its Latin American operations’ revenue hit €30 million ($33.1 million) for the first quarter this year. All of those markets showed an increase in their revenue on a year-over-year basis.

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