Bragg Gaming to review strategic alternatives including potential sale after Q4 dip
canadiangamingbusiness » Casino
by Tom Nightingale
19h ago
At its earnings call on Tuesday, Bragg Gaming revealed it is forming a new ad hoc special committee to determine its best path forward after a mixed set of results for Q4 clouded an otherwise promising year. In the fourth quarter of 2023, Bragg reported dips in both revenue and profit. Overall revenue dropped slightly by 1.4% to €23.4 million ($34. 5 million CSD) and adjusted EBITDA fell 23.7% to a total of €2.8 million ($4.1 million CAD). Gross profit slipped 7.3% to €12 million ($17.7 million CAD) during the quarter and is also down 3.4% year-over-year. The biggest bright spot in Q4 for the ..read more
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NBA investigating Toronto Raptors’ Porter for betting irregularities
canadiangamingbusiness » Casino
by Tom Nightingale
2d ago
The NBA is investigating Toronto Raptors forward Jontay Porter for potential betting irregularities related to his own performances in games. ESPN reported on Thursday that multiple instances are being explored by the league, including the possibility that Porter bet the under on his own performances. For the Raptors’ Jan. 26 game against the LA Clippers, prop bets on the number of 3-pointers Porter would make were “the biggest money winner for bettors of any NBA player props from games that evening” at DraftKings, ESPN reports. The over/under on Porter’s 3-pointers for that game was 0.5. In ..read more
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Bragg Gaming revenue rose 10.4% in 2023
canadiangamingbusiness » Casino
by Tom Nightingale
3d ago
Bragg Gaming Group announced on Monday that its full-year 2023 revenue rose 10.4% year over year to €93.5 million ($137.6 million CAD). In a pre-announcement ahead of its full earnings call on Tuesday, the global B2B gaming technology and content provider also revealed that its adjusted EBITDA rose by 26.3% to €15.2 million ($22.4 million CAD) last year. The Toronto-based company will release its full fourth quarter and full year 2023 financial results prior to the opening of the financial markets on Tuesday, March 26, 2024, followed by a conference call at 8:30 a.m. ET hosted by Bragg Chief ..read more
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SBC Awards North America 2024 shortlist revealed
canadiangamingbusiness » Casino
by Tom Nightingale
3d ago
Ahead of May’s SBC Summit North America in New Jersey, SBC has unveiled the shortlist for the 2024 SBC Awards North America. The shortlist recognizes the achievements and contributions of both regional and globally recognized gaming industry operators, affiliates, suppliers, and tribes, who are driving innovation and pushing the industry forward in the North American market. The awards ceremony will be held on Thursday, May 9, the closing day of the summit, at the Hilton Hotel in Midtown, New York City. Who’s nominated? The 2024 edition of the annual industry ceremony received a record number ..read more
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IGT reshuffles executives ahead of Everi spinoff merger
canadiangamingbusiness » Casino
by Tom Nightingale
6d ago
IGT has reshuffled its C-suite and board of directors as it prepares for its PlayDigital and Global Gaming divisions to spin off and merge with gaming and payments specialist Everi. Current IGT CEO Vince Sandusky is leaving to take up the same role in the new business. On Thursday, IGT announced that Board Non-Executive Director Marco Drago will be replaced on the board by his son Enrico Drago, who is stepping down from his role as PlayDigital CEO. Those changes will come into effect from April 1 while Drago Sr. will officially leave following IGT’s Annual General Meeting on May 14. Drago Jr ..read more
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Rush Street Interactive talking to potential buyers including DraftKings
canadiangamingbusiness » Casino
by Tom Nightingale
6d ago
Rush Street Interactive is exploring a number of realignment options including a potential sale, sources have told Bloomberg. Company representatives are believed to have approached multiple potential buyers including DraftKings. Rush Street would not comment on the rumours but a spokesperson from DraftKings told Bloomberg that the company “speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to comment on the specifics of any of those discussions.” Rush Street, led by CEO Richard Schwartz, went public in December 2020 v ..read more
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DraftKings and Kindbridge expand problem gambling program
canadiangamingbusiness » Casino
by Tom Nightingale
6d ago
DraftKings and Kindbridge Behavioral Health have extended their partnership with the aim of providing more readily accessible treatment for problem gambling to encompass all of the sportsbook’s active markets. The sportsbook and the mental health service provider originally teamed up back in September to launch a pilot program to deliver personalized support for sports bettors in Colorado. Now, they will provide access to therapy and treatment for problem gaming in every jurisdiction where DraftKings operates its online sportsbook and iGaming products, including Ontario and 25 U.S. states. St ..read more
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Ohtani interpreter accused of stealing millions from MLB star for illegal betting
canadiangamingbusiness » Casino
by Tom Nightingale
6d ago
A major-league star like Shohei Ohtani is used to being headline news. But not like this. Ohtani has been embroiled in an illegal sports betting scandal after his interpreter and friend Ippei Mizuhara was fired by the Los Angeles Dodgers on Wednesday following accusations that he has stolen millions of dollars from the player for the purposes of illegal gambling. The LA Times reported that Mizuhara allegedly used the stolen money to place bets with sportsbook operation in California, where sporting betting remains illegal. ESPN suggested that funds totaling at least $4.5 million were sent via ..read more
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XLMedia dumps European and Canadian assets in a bid to focus on the U.S.
canadiangamingbusiness » Casino
by Christian Lee
1w ago
Affiliate XLMedia has agreed a deal to sell its European and Canadian sports betting and gaming assets to Gambling.com Group (GAMB). The deal is worth up to $42.5 million and the company says that it intends to use the proceeds of the transaction to cover a number of costs related to its North American business, including covering asset transition costs and settling outstanding tax provisions.. Assets subject to the transaction include Freebets.com, WhichBingo.co.uk, Nettikasinot.com and Vedonlyonti.com, together with smaller Europe and Canada sites. “The Board believes the sale of these ..read more
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AGS enters Ontario through Caesars Digital partnership
canadiangamingbusiness » Casino
by Tom Nightingale
1w ago
American Gaming Systems (AGS) has announced it is expanding its partnership with Caesars Digital to bring its library of real-money games to Ontario and West Virginia. After AGS Interactive launched its Rakin’ Bacon Odyssey game in New Jersey last month, that game and the company’s other most popular titles can now be played in the Ontario and West Virginia markets via the Caesars Palace Online Casino app or online at caesarspalaceonline.com. “We are thrilled to expand our partnership with Caesars Digital as we enter Ontario and West Virginia,” said Zoe Ebling, AGS Vice President of Interacti ..read more
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