Metric’s $10m boost to drive US growth

first_imgFinance Metric’s $10m boost to drive US growth Metric Gaming has sealed a $10m (€8.5m/£7.6m) funding round that will “accelerate” its ambition of becoming a leading tech provider in its home US market.The sportsbook platform and data services provider, which was founded in Las Vegas, said its Series A Funding Round was led by RDA Ventures LLC, with additional funds coming from existing investors. As part of its investment, RDA Ventures will join Metric Gaming’s board of directors.With plans already under way for a recruitment drive at its Las Vegas base, the funds will be used to help establish Metric Gaming as a leading services provider in the fledgling US market.Martin de Knijff (pictured), Metric Gaming CEO, said: “This investment will accelerate Metric Gaming’s plans to capitalise on the substantial market opportunities arising as states across the U.S. continue to legalize sports betting.“Metric’s B2B value proposition – a turnkey, mobile-optimised solution that includes the transaction platform, front-end, trading, operations, risk management, product and unique content – is backed by pedigree and expertise built on both sides of the Atlantic, and will enable operators to quickly and efficiently capture market share.”Since the repeal of PASPA in May, Metric has begun an internal restructure with industry veteran Jim Supple becoming global managing director and Keith Hayes taking over his COO role, with a US commercial function being defined in addition to the already established UK and European commercial function.The company in May announced a partnership with Nektan that will see the pair provide a fully integrated complete race and sports book offering to the US market.De Knijff told iGamingBusiness.com that the company’s commercial arm has been busy progressing other partnerships since the US market was effectively opened by the repeal of PASPA.He said: “The emerging sports betting market in the US has presented Metric Gaming with numerous opportunities to explore and progress.“It’s a little too early to announce anything specific but discussions are well underway with some leading names within the industry.” US-founded sportsbook specialist in Las Vegas recruitment drive Subscribe to the iGaming newsletter Regions: UScenter_img Topics: Finance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address 25th September 2018 | By contenteditorlast_img read more

Fire Dozen by Casino Technology Interactive

first_img With the falling winter temperatures, Casino Technology Interactive is coming up with hot winning offers of its latest games proposals. Filled with cool features, entertaining graphics and radiant visuals FIRE DOZEN is appealing to players preferences. Subscribe to the iGaming newsletter Casino & games Email Address Topics: Casino & games Slots Fire Dozen by Casino Technology Interactive AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 27th November 2018 | By Aaron Noy With the falling winter temperatures, Casino Technology Interactive is coming up with hot winning offers of its latest games proposals. Filled with cool features, entertaining graphics and radiant visuals FIRE DOZEN is appealing to players preferences.FIRE DOZEN gets players immediately into the game. The ageless fruit theme here works quite well along with the attractive design that makes the game stand out even in crowded fields. With five reels and 40 pay lines, the game is expected to be an ultimate hit with old school players and newcomers alike. It has bonus features such as special WILD symbol on 1 and 3 reels and Scatter symbol on 1,3 and 5 reels. When all Jokers are hit at the same time, an animation of the WILD is displayed and a mini-animation of all the winning characters is also played. The top rewards are 750x bet.The RTP is pretty good, as it is in the majority of the games released by Casino Technology Interactive.You can play a demo of this and many other Casino Technology games here!last_img read more

Three more operators join race for Buenos Aires licences

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Three more operators join race for Buenos Aires licences Subscribe to the iGaming newsletter Three more high-profile gaming operators have entered the race to secure online gambling licences in Argentina’s capital province of Buenos Aires.Bet365, Betway and Codere LatAm, a subsidiary of the Madrid-listed operator, have all entered into joint ventures with local operators, and registered to file a licence application.Via its Hillside (New Media Malta) subsidiary, bet365 has partnered bingo hall operator Pasteko, while Betway has paired up with Bingo King. Codere LatAm, meanwhile, will work with slot and bingo hall operator Iberargen.With the June 25 deadline for interested parties to register their intention to apply for a licence fast approaching, there are now 10 companies that will compete for the province’s seven igaming licences.Of this number, the majority involve joint ventures between international operators and local partners. It was previously announced that the Stars Group had partnered Atlantica de Juegos, with William Hill sealing a deal with ArgenBingo, and Flutter Entertainment with Bingo Pilar. Each of these local partners are bingo operators.Intralot, meanwhile, will work with casino operator BinBaires and Playtech has paired off with Hotel Casino Tandil. Two local operators, Biyemas and Slots Machines SA, look set to go it alone.The winning bidders will be granted a 15-year operating licence, for which they must pay AR$65m  (£1.3m/€1.3m/$1.4m). They will be able to offer online casino games including slots, sports betting, poker and betting on horse racing, and will pay a 25% tax on gross revenue.Lawmakers Buenos Aires province passed gambling regulations in December last year, which were then signed into law by Governor María Eugenia Vidal in April this year. The market will be regulated by the Buenos Aires Provincial Institute of Lottery and Casinos (IPLyC). 7th June 2019 | By contenteditor Tags: Card Rooms and Poker Mobile Online Gambling Slot Machines Topics: Casino & games Legal & compliance Sports betting Bingo Poker Slots Regions: LATAM Argentina Bingo A trio of international gaming operators have entered the race to secure online gambling licences in Argentina’s capital province of Buenos Aires. There are now 10 companies competing to secure one of seven operating licences. Email Addresslast_img read more

Norwegian govt wins partial victory in payment blocking suit

first_imgLegal & compliance Regions: Europe Nordics Norway 20th August 2019 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Payments Subscribe to the iGaming newsletter Topics: Legal & compliance Norwegian govt wins partial victory in payment blocking suit The Oslo District Court has ruled that the Norwegian Ministry of Culture, Agriculture and Food does have the right to block payments to offshore igaming operators, and that the move does not contravene EU law.However the plaintiffs in the case, Entercash and the European Betting and Gaming Association (EGBA), could still prevail in a second hearing. This will examine whether the blocking measures constitute an illegal restriction on the provision of services within the European Economic Area (EEA).The case was split into two, with the first hearing examining two elements: whether payment blocking violates the European Union Payment Services Directive and whether the government lacks the legal authority to implement the ban.The court ruled that the block does not violate the EU Payment Services Directive, as member states may still apply national laws that “may affect the functioning of the common [payment] market.”“The State […] is acquitted in so far as the allegations are based on the assertion that the decisions are invalid because they lack internal legal authority and contravene the Payment Services Directive,”  District Court Judge Anne Cathrine Haug-Hustad said.The court also ruled that the Ministry did have the legal authority to block the payment services.“There is no doubt that the regulations, and thus the decision, are based on law,” Haug-Hustad continued. “The regulations are laid down on the basis of Section 2 of the Gambling Act, Section 11 of the Lottery Act and Section 3 of the Totalizator Act.”However, she added, the Norwegian government could not claim victory in the case due to the second hearing, which is yet to be scheduled. This will see the court ultimately rule on whether the payment blocking measures are suitable, necessary and consistent with rules governing the free movement of services within the EEA. As such EGBA and Entercash could still secure a significant victory through their legal action.“As a result, it is not possible now to determine whether any of the parties have ‘won the case’ or ‘been granted a significant claim’,” Haug-Hustad said.EGBA and Entercash filed the lawsuit against the Ministry in June this year, after efforts to block transactions between Norwegian banks and financial institutions and offshore gaming operators were stepped up. This comes as part of a wider enforcement drive by the Norwegian authorities to stamp out offshore activity to preserve the state-owned operator Norsk Tipping’s gambling monopoly. “In today’s digital age it is virtually impossible to enforce national borders on the internet but that’s what the Norwegian authorities are trying to do by introducing payment blockings for online betting,” EGBA secretary general Maarten Haijer said at the time. “Rather than being a tool to benefit consumers, such restrictive measures are aimed at protecting the revenues of the state-owned monopoly by cutting off outside competition from reputable EU-licensed operators.“This is not only in breach of the EU’s internal market principles but out of step with the reality of a consumer-driven betting market, where players will inevitably search around the internet for value and choice in the games they play,” he added.Recent reports conducted by Oslo Economics have suggested that implementing a blanket ban on offshore operator advertising could cut broadcasters’ ad revenue by as much as NOK500m per year. However a report into the risks of opening up the market to foreign operators then concluded there was not enough evidence that such a move would benefit player protection efforts or raise additional funds for social causes through taxation. The Oslo District Court has ruled that the Norwegian government does have the right to block payments to offshore igaming operators, and that the move does not contravene EU law. However the plaintiffs in the case could still prevail in a second hearing dealing with the issue of whether the blocking measures constitute an illegal restriction on the provision of services within the European Economic Area. Email Addresslast_img read more

Snaitech boosts Playtech revenue but hits profit in H1

first_img Tags: Card Rooms and Poker Mobile Online Gambling OTB and Betting Shops Increased B2C revenue resulting from Playtech’s 2018 acquisition of Italy’s Snaitech offset a decline in B2B revenue for the gaming solutions giant in H1, though the deal also resulted in increased depreciation and amortisation and financial costs, which hit profits.Group revenue for the six months to 30 June 2019 amounted to €736.1m, a 69% year-on-year increase from H1 2018, when the supplier reported revenue of €436.5m. Growth was largely down to increased B2C revenue, which soared 345% to €438.2m.This was driven by the Snaitech acquisition, which was agreed in April last year, and completed in August. The operator contributed €395.8m in revenue for H1, a significant increase on the €61.3m generated from Playtech’s stake in the business in 2018.However on a pro forma basis, comparing Snaitech’s figures as if it had been part of the group for the first six months of 2018, revenue was down 11% year-on-year. This was caused by an 18% drop in gaming machine revenue, something Playtech credited to increased gaming taxes, offset by strong online growth. Total online revenue for the period was up 22%.Elsewhere in Playtech’s B2C division, white label revenue, including Sun Bingo, fell 2% year-on-year to €24.3m. Sun Bingo was the unit’s standout performer, though not by enough to stop other white label brands’ declines hitting revenue. However many of these brands have been consolidated or ceased operating, as part of a ‘housekeeping exercise’ to thin out the number of white label sites.Financials division TradeTech group also struggled in H1, with revenue falling 25%, while casual gaming remained flat with no improvement in revenue for the period.However the B2C retail division grew strongly, albeit from a low base. Revenue was up 114% to €9.9m, as a result of the expansion of the Germany-facing HPYBET betting shop franchise.The Snaitech-driven B2C growth was not matched by Playtech’s core B2B operations, with revenue down 9% year-on-year at €265.5m. The decline was due in part to a 24% drop in casino revenue to €129.8m, offset by growth in B2B sports revenue, which rose 27% to €60.6m.Casino struggled in H1 as a result of a 42% year-on-year decline in revenue from Asia, though its impact was mitigated slightly by a 9% increase in revenue from regulated markets. Regulated market revenue grew to represent 49% of total casino income, compared to 40% in H1 2018.Services revenue, meanwhile, grew 12% to €46.2m, aided by the continued growth of OPAP in Greece and Caliente in Mexico and underpinned by increased machine hardware sales. Bingo, on the other hand, was down 10% at €11.8m, with poker declining to €4.3m. As with casino, poker has seen unregulated market revenue fall, dropping 18% in H1, and the regulated market contribution increase. Revenue from licensed jurisdictions now accounts for 71% of the vertical’s total.Playtech’s significant growth in size and scale prompted by the Snaitech deal contributed to a sharp increase in distribution costs, which almost doubled to €492.8m, and administrative expenses, which grew to €78.9m.A further charge of €4.6m relating to the impairment of other receivables, which left earnings before interest, tax, depreciation and amortisation of €159.8m, up 32.7% year-on-year.However Playtech was then hit by significantly increased depreciation and amortisation, as a result of the acquisition of Snaitech. Depreciation increased by 52% to €24.9m, of which €8.8m was incurred through Snaitech. Excluding acquired assets, underlying depreciation increased by 6%.Amortisation shot up 89% to €83.6m, due to the acquisition of Snaitech and a €10.5m impact from adopting the International Financial Reporting Standard 16. Excluding the amortisation within acquisitions, amortisation increased by 32% to €25.7 million.Finance costs, meanwhile, increased 36% to €27.4m on a reported basis. On an adjusted basis this rise was even steeper, up 237% from the prior year, driven by a €12.5m rise in interest related to bond loans, including €10.5m on the €530.0m bond raised in October 2018.Though a 43% increase in finance income to €8.9m offset this in part, it saw Playtech’s operating profit for the half plummet to €28.0m, compared to €124.2m for the prior year. After income taxes, Playtech’s net profit for the period stood at €18.0m, down from €118.0m, though the business did record a foreign exchange gain of €2.2m, taking total income for the period to €20.2m.Had numbers been adjusted to strip out non-cash and one-off items such as amortisation of intangibles, professional and finance costs, deferred tax and unrealised fair value changes, profit for the quarter would have been €72.0m.Playtech’s directors noted that this figure, representing a 19.0% year-on-year decline, more closely represented Playtech’s trading performance for the period.In current trading, regulated B2B revenue, excluding acquisitions and the impact of increased Remote Gaming Duty in the UK, was up 4% for the first 51 days of H2 2019. Snaitech, it said, had shown strong underlying growth, and had not yet been impacted by the Italian advertising ban.As a result, and based on the H1 figures, Playtech has reiterated its adjusted EBITDA projection for the year of between €390m and €415m, and expected B2B and Snaitech to perform well for the remainder of 2019. However, it added, Asia would continue to struggle – at the current run rate, the region is expected to contribute €115m in annual revenue, down from the €150m projection issued earlier in the year. Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Increased B2C revenue resulting from Playtech’s 2018 acquisition of Italy’s Snaitech offset a decline in B2B revenue for the gaming solutions giant in H1, though the deal also resulted in increased depreciation and amortisation, and financial costs, which hit profits. Snaitech boosts Playtech revenue but hits profit in H1center_img Email Address 22nd August 2019 | By contenteditor Subscribe to the iGaming newsletter Topics: Casino & games Finance Sports betting Tech & innovation Bingo Pokerlast_img read more

Scientific Games extends digital supply deal with BCLC

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Tech & innovation Scientific Games extends digital supply deal with BCLC Scientific Games has signed a five-year extension to its digital sports betting and online gaming agreement with Canadian provincial lottery operator  British Columbia Lottery Corporation (BCLC). Tags: Online Gambling Subscribe to the iGaming newsletter Scientific Games has signed a five-year extension to its digital sports betting and online gaming agreement with Canadian provincial lottery operator  British Columbia Lottery Corporation (BCLC).Under the deal, which runs through to 2024, Scientific Games will provide a fully upgraded suite of digital sports betting and igaming solutions, including player account management services.BCLC will also have access to Scientific Games’ full range of OpenSports products, the solutions range based around its OpenBet platform, including promotional tools, scoreboards and a bespoke user interface.“Scientific Games has helped power significant growth for BCLC’s PlayNow.com digital gaming site over the past several years, and this will help us to continue to grow and evolve our customer experiences into the future,” BCLC’s interim vice president, digital and enterprise services Cameron Adams said.Read the full story on iGB North America. Regions: Canada British Columbia 28th October 2019 | By contenteditor Email Address Sports bettinglast_img read more

Brokerage pivot hits Zeal Network revenue in 2019

first_img19th February 2020 | By Daniel O’Boyle Regions: Europe Central and Eastern Europe Germany German lottery broker Zeal Network’s revenue and earnings declined in 2019, but the business said the year was still a success despite the acquisition of Lotto24 and move away from lottery betting affecting its financial performance.In May 2019, Zeal completed the acquisition of its former subsidiary Lotto24 and moved its registered office from the UK to Germany. This came as part of a change in business model to focus on lottery brokerage services, rather than lottery betting.The business said its 26.7% revenue decrease to €113.5m was due to a high prize pay-out owed to the old secondary lottery business and revenue dis-synergies resulting from the business model change.The business’s revenue came on billings – comprising all stakes from customers, including brokerage stakes and associated VAT, net of bets – of €466.7m, up 57.5% year-on-year.Other operating revenue came to €8.1m, meaning total operating performance (TOP), or the sum of revenue and other operating income, came to €121.6m, down 23.9% year-on-year.Zeal’s personnel expenses came to €23.0m, down 20.1%. This was largely due to a planned reduction in the number of employees at Zeal from 350 after the takeover, to 190. Absorbed employees from the Lotto24 takeover cost Zeal €22.0m.Other operating expenses decreased 17.0% to €69.5m, of which €22.1m were marketing expenses, up 12.2%. Direct operating expenses fell 33.6% to €29.4m, while indirect operating expenses declined 8.1% to €18.1m.This resulted in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €28.8m, down 39.6%.The business incurred amortisation and depreciation costs of €8.8m, eight times the cost in 2018, and non-recurring expenses of €11.1m, up 33.7%. These non-recurring expenses were mostly due to the business model change, at €9.1m, plus a further €2.0m from the Lotto24 takeover.Zeal’s earnings before interest and tax came to €8.8m, down 77.0%.Zeal did not disclose its final result after interest and tax.Jonas Mattsson, chief financial officer of ZEAL Network, said that although Zeal’s final result was lower than in 2018, it still represented a success due to the business model change and the costs of integrating Lotto24.“We are aware that we could only reach the latest milestones in the history of ZEAL Group with the support of our customers, employees and shareholders,” Mattsson said. “After leaving behind a long period of legal uncertainties and significantly improving our risk profile with the end of the secondary lottery business as the leading online provider of state lottery products, we can now fully focus on the continuously growing and socially valuable German online lottery business with two strong brands.“Knowing the great value and high loyalty of our customers, we look forward to setting out on this exciting journey.”For the fourth quarter of 2019, revenue came to €20.3m, down 53.5% year-on-year. This came on billings of €134.2mThe operator’s total operating performance fell to €20.4m, down 55.3%.Personnel expenses came to €5.8m, while other operating expenses totalled €14.5m. Marketing expenses came to €6.0m, direct operating expenses €2.6m and indirect costs of operations €5.1m.This resulted in fourth-quarter EBITDA of €500,000, less than one-thirtieth of EBITDA in Q4 of 2018.Zeal’s net result before interest and tax for the fourth quarter came to a net loss of €4.1m, down from a €9.2m profit in 2018.Zeal Network also issued its guidance for 2020, with billings projected in the range of €550-570m. Revenue for the year is expected to come in between €70m and €73m, with EBITDA to fall between €5m and €8m. Topics: Finance Lottery German lottery broker Zeal Network’s revenue and earnings declined in 2019, but the business said the year was still a success despite the acquisition of Lotto24 and move away from secondary lotteries affecting its financial performance. Subscribe to the iGaming newslettercenter_img Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Brokerage pivot hits Zeal Network revenue in 2019 Email Addresslast_img read more

17 April: Where’s the action?

first_img17th April 2020 | By contenteditor Sports betting Email Address iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic.This will ensure our readers have a regularly updated roster of the sporting events happening that day. A full table of the day’s action can be found at the bottom of the page.Baseball China’s Professional Baseball Leagues and its reserves both play today (17 April).Basketball Tajikistan’s Northern Cup continues, the only basketball taking place in the next 24 hours.Darts Today’s (remote) darts schedule expands slightly, with the Icons of Darts Live League, A Night at the Darts and the Professional Darts Corporation’s Home Tour all taking place.Football Belarus as been one of the only European leagues to be unaffected by Covid-19 to date, and it’s the only country in which professional football is being played today. The countrys’ Premier League, League 1, Second League and Reserve League all play.Greyhounds As usual, Flordia’s Naples Fort Myers is the only track outside of Australia to hold racing today.Horse Racing Alongside activity at a number of US and Australian tracks, Friday also brings racing from Kawasaki in Japan, at three tracks in Sweden, and for the first time, in Macau.Ice Hockey The short form version of Russia’s Liga Pro continues, as does Belarus’ Minsk Championship.Table Tennis Armenia is the new addition to the table tennis schedule, with the ITT Cup League. It joins the Czech Republic’s TT Star Series, Russia’s Liga Pro and Ukraine’s Sekta and Win Cups. Tennis The Russian Liga Pro for tennis brings today’s round up to a close.This list is not intended to be exhaustive, and all events are subject to change.Abelson Info was set up by Ed Abelson in 2003 to supply the bookmaking industry with the crucial sports data it required as the online betting industry began to boom. Starting with just a handful of employees and even fewer clients, the business has since grown and evolved to accommodate the ever-changing requirements of the industry.We now supply data and technical services to the majority of the top tier bookmakers and platform providers in the UK, along with many of the biggest media corporations and development firms across the world. We have a stellar reputation for delivering top quality data and are always on hand to support customers, 24 hours a day, 365 days a year. 17 April: Where’s the action? Tags: Mobile Online Gamblingcenter_img Topics: Sports betting Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic.last_img read more

Dutch regulator to launch widespread testing of new self-exclusion system

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Netherlands Initial testing of the system began last month with a limited number of operators, after details of the system were announced in October. The KSA last month also published standards for inspections under the Remote Gambling Act, including that prospective licensee must undergo an inspection of their gaming systems in order to receive a licence. Email Address Responsible gambling In October, the KSA also set out the terms and conditions for a licence application under the Remote Gambling Act, including reporting a variety of the applicant’s policies and details of how its “cooling off” requirements will be applied. Once integrated, operators must check if a player has signed up to Cruks before they are allowed to register and play online games. In October, the Dutch government published regulations explaining in detail how Cruks works. When a player registers with an online operator for the first time, or if the player wants to access a land-based casino, they enter their public service code (BSN), which leads to the generation of a Cruks code. This code is then compared to the list of codes for self-excluded players and if it matches, the player must not be allowed to register or enter. The law was originally scheduled to come into effect in July 2020, but was delayed to 1 January in November 2019 before another delay announced last month because of the effects of the novel coronavirus (Covid-19) pandemic pushed the date back to 1 March. Topics: Social responsibility Responsible gamblingcenter_img The Centraal Register Uitsluiting Kansspelen (Cruks) forms part of the country’s new Remote Gambling Act, which is set to come into force on 1 March next year after a number of delays caused by the novel coronavirus (Covid-19) pandemic. An initial test version of Cruks was made available for land-based operators on 13 July. Dutch regulator to launch widespread testing of new self-exclusion system Dutch gambling regulator De Kansspelautoriteit (KSA) has announced that it will expand testing its new self-exclusion scheme next week, inviting all interested parties to connect with the system. 11th December 2020 | By Robert Fletcher Tags: KSA Cruks The KSA will now expand this from 14 December to all interested land-based and igaming operators, as well as any of their potential suppliers. Subscribe to the iGaming newsletter Operators that secure a new online gambling licence in the Netherlands will be required to integrate with Cruks when the market opens on 1 September next year.last_img read more

ATG credits lack of racing suspension with record revenue in 2020

first_imgThe pandemic led to a significant growth in online sales for ATG, with online net revenue of SEK3.98bn, up 31.3%. Retail revenue decreased however, by 6.9% to SEK1.21bn. Topics: Finance Sports betting Full year results 2020 Horse racing ATG credited the continuation of Swedish horse racing all the way through the pandemic for its record net gaming revenue of SEK5.35bn (£453.1m/€525.7m/$621.8m), up 20.8% year-on-year, in 2020. Horse racing Sports betting in Sweden brought in a further SEK378m, up 48.8%, while casino revenue from Sweden brought in SEK288m, up 13.0%. In Denmark, sports betting brought in SEK30m and casino SEK82m. ATG credits lack of racing suspension with record revenue in 2020 “There are two underlying factors to these figures,” he said. “First: that ATG in recent years invested heavily to be able to deliver on customer expectations.  ATG then paid gambling taxes of SEK1.06bn, up 18.0%. It paid a further SEK460m in personnel costs, up 8.2%, and SEK2.36bn in other expenses, down marginally from 2019. After SEK280m in depreciation and amortisation costs, up 43.6%, ATG was left with operating profit of SEK2.24bn, a 49.3% increase. Despite being able to expand its offering as the market opened in 2019, bets on horse racing from Swedish customers still made up SEK4.54bn of ATG’s revenue, up 18.4%. Horse racing bets from Denmark, through ATG’s Ecosys subsidiary, made up an additional SEK42m. “Number two: when the rest of the sports world was shut down due to Covid-19, professional competition activities in Sweden could continue in a safe way thanks to the fact that all spectator space was closed.” After a net income of SEK2m from investments, interest and other financial sources, and taxes of SEK493m, ATG made a profit of SEK1.75bn, 50.5% higher than 2019. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Total revenue was up 19.4% to SEK6.33bn. Total revenue comprises net gaming revenue, agent revenue and other income. Hasse Lord Skarplöth, ATG’s president and chief executive, said a major reason for the operator’s success was the continuation of Swedish horse racing even as almost all other sports across the globe were suspended. Tags: Covid-19 ATG Regions: Europe Nordics Sweden 24th March 2021 | By Daniel O’Boyle Email Addresslast_img read more