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SPANISH OPERATOR CODERE REPORTS LOSSES OF €97M IN FIRST QUARTER

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SPANISH OPERATOR CODERE REPORTS LOSSES OF €97M IN FIRST QUARTER

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Spanish multinational gambling operator Codere has reported losses of €97m for the first quarter of 2020, as the group struggles to access funding. 

Codere SA, which operates online gambling, retail betting shops, gaming halls, gaming machines and racetracks across Spain, Italy, and Latin America, has seen losses grow tenfold compared to the same period last year. 

The company has been hit hard by the COVID-19 crisis and resulting cancellation of sports across the world, especially in Europe and South America. Significant fluctuations of South American currencies against the US dollar and euro have also hurt performance. 

Group operating revenues for Q1 2020 tumbled 21% year-on-year to €278m, with serious declines across all core operating markets. The group reported an adjusted EBITDA of €40m for the quarter. 

Like other betting operators, the group has striving to reduce operating expenses, and managed to save €42m in the period, but it was too little to offset the major decline in revenue. The company says it has been maintaining operations using an extended €130m credit facility, and its corporate debt has reached €976m, while debt-net equivalents of €826m are held. 

Earlier this month, Codere failed to negotiate an extension of its debt repayment terms with US bondholders Silver Point and Abrams Capital, and there is some speculation that the company will be forced to sell some business units to survive. 

 

AYO.NEWS says:

Despite online gambling as a whole holding up well so far during the COVID-19 crisis, those operators with large retail and sports betting exposure, and existing debt, have found themselves in a very tricky situation, as revenues dry up and lenders become very risk averse. 

Last month we reported that Gibraltar-based online casino supplier Nektan had appointed administrators, confirming it had failed to secure the funds it needed to keep operating. 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020

With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.


iGaming

WORLDMATCH PARTNERS WITH SLOTS PLUS IN ITALIAN MARKET

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Milan-based slot game developer WorldMatch has signed an agreement with Signorbet.it, the online brand of Slots Plus Srl. 

Signorbet will be launching the first tranche of 40 online slots from WorldMatch in mid-June. 

Commenting on the partnership CEO of WorldMatch, Andrea Boratto, said:

“We are pleased with this new milestone and we look forward to the important collaboration with Signorbet that will allow us to reach new players.”

 

While Domenico Distante from Signorbet added:

“WorldMatch is the right partner to add quality and assortment to our online casino offer, and even at such a difficult period for the entire industry, we are always looking for new partnerships to invest in the future of our brand.”

 

Founded in 2000, WorldMatch develops slots, roulette games, table games, and video poker. Its catalgoue includes games like Goodluck Hot Pot, Alien Domination, Magic Moon Palace, and Big Grizzly.

 

All original content featured on this site is © Pentagon Digital Limited, 2020

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ENTERACTIVE LAUNCHES LOCALISED (RE)ACTIVATION CLOUD™ IN JAPAN

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Image credit: Enteractive

Malta-based player reactivation and retention specialist Enteractive has launched its (Re)Activation Cloud plug-and-play solution in Japan.

The company says its entry into the burgeoning Asian market will enable Japanese brands to benefit from its personalised approach to player engagement, which is especially important in cultures like Japan, where great customer service is rewarded with brand loyalty, but there is little tolerance for failure. 

Designed to reactivate dormant and lapsed accounts, the company says its solution is driven by human interaction and personalised conversations on behalf of a brand, which brings empathy and a human touch to standard automated services.  

Discussing the launch country manager, Alex Nilsson, said:

“Following months of preparation, our Japan team is up and running with native language customer engagement and a deep understanding of local cultural narratives.

“Japan is different to any other market in which we operate, so we’re extremely proud of the way our diverse talent pool has quickly surmounted any challenges to such a defined local approach.”

 

While Enteractive founder and CEO, Mikael Hansson, added:

“We’re incredibly excited to launch in this new and fast-growing market. Japan offers so many opportunities for iGaming operators in 2020 and beyond, and now Enteractive is there to help them navigate uncharted waters with their most important assets – the players.

“Caring for our clients’ players is baked into our DNA at Enteractive, so our courteous approach is ideally suited for Japan’s cultural landscape. I believe this could become one of our biggest markets in terms of sales and net revenue within a couple of years.”

 

Enteractive is already well-established in European markets, with major clients including Betsson, GiG, and Kindred reporting its solution has increased conversion and retention, boosting player deposits and engagement. 

(Re)Activation Cloud is both GDPR and G4 compliant and features bespoke systems built for operator compliance and player protection. 

 

AYO.NEWS says:

From the types of games to style of customer service, the Japanese market demands a very different approach to Europe, so it’s critical to develop a local solution – and Enteractive seems to have done exactly that, so we’re sure it will be of value to operators looking to establish themselves in what can be a very lucrative market.  

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020

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Blockchain & AI

DIGITAIN SPONSORS SiGMA ASIA & SiGMA DEEPTECH VIRTUAL CONFERENCES

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Image credit: Digitain

Online casino platform provider Digitain is sponsoring this year’s SiGMA Asia and SiGMA DeepTech virtual online conferences, taking place from 8-10 June. 

SiGMA Asia 2020 will explore a wide range of topics relating to Asia, including new market opportunities and product strategies for the COVID-19 era and beyond. 

SiGMA DeepTech 2020 will focus on important technology issues facing the industry as it evolves, including; Big Data, Artificial Intelligence, Game Design, and User Experience. 

Over three days, virtual conference visitors will be able to learn from the shared experiences of more than 80 industry thought leaders, including Digitain’s Director of Product Management, Martin Clarke. 

Clarke will be part of the panel discussing the impact of esports on the industry during the current challenging times. He will also feature in a conference video presentation covering the trends, challenges and future of User Experience. 

Discussing the upcoming virtual conferences, Clarke said:

“We, at Digitain, as event Silver Sponsors, are very pleased to be able to support and take part in this innovative virtual conference, and to collaborate with such a great panel of industry leaders.

“We will have an opportunity to showcase our products to a wide, international audience and to discuss how we have reacted positively and pro-actively to the crisis by introducting new profitable revenue streams for our partners to our product portfolio.”

 

AYO.NEWS says:

It’s certainly been a challenging few months for the online gambling industry, so it will be fascinating to hear what the movers and shakers are seeing for the future, as we look ahead to the post-pandemic world. 

Staying with Digitain, earlier this week we reported the company had appointed industry veteran Peter Nolan as its new Strategic Consultant. 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020

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Blockchain & AI

ATARI TOKEN TO BE INTEGRATED WITH NATIVE GAMING’S REVOLUTIONARY MMORPG

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The Atari Token is set to be integrated with Native Gaming’s upcoming MMORPG and online casino. 

Iconic entertainment producer Atari® has partnered with Native Gaming and Black Dog Venture Partners to integrate the upcoming Atari Token in Native Gaming’s soon-to-launch Massively Multiplayer Online Role-Playing Game (MMORPG), and library of popular casino slots. 

An ambitious new online casino project, that enables players to “Bet the House” by directly staking in the bankroll, Native Gaming (NativeGaming.io) will feature over 5,000 casino games from more than 70 providers, including Evolution Gaming, NetEnt, Play’n GO.

Uniquely, Native Gaming’s proprietary Social MMO Sweepstakes Casino, will feature a first of its kind, patent-pending, Native MMO Slot Game. Unlike traditional “spin-to-win” style online slots, Native’s new MMO is a true video game, featuring a monster-catching system similar to the popular Pokemon games. Caught monsters can either be used to battle and earn money, or cashed in directly to the casino. 

Discussing the partnership Native Gaming CEO, Justin McCool, said:

“We are excited to be a part of what Atari is doing in both the casino and blockchain space. It’s hard to imagine a more appropriate partner to help us take our new Native MMORPG Casino Slot Game to market and bridge the gap between gamers, gamblers, and the cryptocurrency community.”

 

While Atari CEO, Fred Chesnais, added:

“Native is building a whole new genre in online gambling and we are thrilled to partner with them on this new casino experience.

“Integrating the Atari Token in Native’s ecosystem will give gamers and gamblers the opportunity to use the Atari Token as a payment method in Native’s casino slot games, meaning more financial options and flexibility for consumers.”

 

AYO.NEWS says:

The Native Gaming project is extremely interesting, and clearly has the potential to engage many of those who aren’t interested by the current crop of casino offerings. Of course, much will depend on just how good the MMORPG ends up being. 

In April we reported Atari had partnered with global monetisation platform and multichain blockchain API and wallet provider Arkane Network. 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020

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iGaming

SUPER SPADE GAMES GO LIVE WITH SOFT2BET CASINO BRANDS

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Casino and sportsbook operator Soft2Bet has partnered with live dealer games supplier Super Spade Games. 

The agreement will see the provider’s range of live dealer entertainment, including digital iterations of table games such as Andar Bahar and Teen Pattii, launch across several of the casino brands in Soft2Bet’s 17-strong portfolio. 

Soft2Bet currently operates under SGA, MGA and Curaçao licenses, and says it is preparing to receive additional European certifications in the near future. 

Commenting on the news CEO at SoftBet, Boris Chaikin, said:

“Super Spade Games’s impressive live dealer options match perfectly with our world class casino offering, and we have no doubt its content will be well received by a wide variety of players.

“As Soft2Bet continues to execute its ambitious commercial roadmap, we look forward to a productive relationship with our new partners.”

 

While Super Spade Gaming’s Albert Climent added:

“Soft2Bet is an established industry leader with a widely celebrated product suite, so we are thrilled to have the company on board.

“Our state-of-the-art live casino options make for a strong addition to Soft2Bet’s acclaimed catalogue, and we are sure they will be a hit with its customers.”

 

All original content featured on this site is © Pentagon Digital Limited, 2020

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HOMA GAMES & IRL TEAM PLAN TOULOUSE GAMING HUB

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Ball vs Lasers from Homa Games / Bloop! Studio

Paris-based mobile entertainment company Homa Games has partnered with independent studio IRL Team to establish a game hub in Toulouse, France. 

Homa Games has said it will be teaming up with Toulouse-based IRL Team, which specialises in free-to-play mobile games, as part of its ongoing expansion efforts. 

Though the studio will remain independent, it will use Homa’s technologies and support team to boost its production capacity. The initiative is part of Homa’s strategy to accelerate growth through focusing on in-development titles.

Discussing the plans IRL Team Founders, Hugo Dumouch, Liam Lepinay & Antoine Violet, said:

“We are excited to come on board with Homa Games and are looking forward to continuing to develop our games’ portfolio. We are confident that partnering with Homa is the exact next step in our evolution plan. By leveraging their expertise and technologies, we will broaden our games’ reach in our development pipeline.”

 

While CEO at Homa Games, Daniel Nathan, added:

“We are strengthening our development capacities. The IRL team is one of the most talented hyper-casual indie developers out there. We are very excited that this team is joining Homa’s creative force and can’t wait to get their creation in the hands of millions of players worldwide.”

 

Homa Games is now looking to make dozens of new hires, including Publishing Manager, Game Developer, Unity Tools Developer, Back End Developer, Full Stack Developer, and more. 

 

AYO.NEWS says:

Across the games development industry we’re seeing more and more partnerships like this as studios and publishers aim to increase outflow and save through synergies. It’s also seeing some interesting hubs emerge – for example, last year we reported that Istanbul, Turkey, now has a booming gaming ecosystem.  

 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2020

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