LeoVegas has strengthened its presence in Finland, launching GoGoCasino in the market. 

The Finnish launch follows a successful debut in Sweden in March 2019, and the operator says it plans to roll the brand out in more markets soon. 

GoGoCasino is aimed at customers who prioritise speed and simplicity, and was developed by a small team using existing resources within the LeoVegas Group. 

It has been launched on the same multibrand proprietary platform as LiveCasino.com – which is aimed squarely at the Live Casino niche, and follows the Group’s strategy of launching a number of customised brands that appeal to very specific target groups. 

Commenting on the launch LeoVegas CEO, Gustaf Hagman, said:

“GoGoCasino is the first new brand to be launched on our proprietary multibrand platform, and it is exciting to see that our customers appreciate the product and experience.

“The fact that GoGoCasino has done so well in the regulated market in Sweden shows our ability to use our proprietary technology to create new, appreciated brands with economies of scale and synergies across the group.

“Finland is the first new market for GoGoCasino outside Sweden, and I am looking forward to scaling up the brand internationally.”

AYO.NEWS says:

With so many online casinos available to players, they can afford to be picky, so the multi-brand approach, specifically targeting niches, is becoming an increasingly popular choice for operators. Of course, with this “long-tail” approach, the trick is remaining efficient with use of resources. 

‘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

Golden Nugget Online Gaming (GNOG) is set to go public following its $745M (USD) acquisition by Landcadia II. 

Landcadia II has entered into a purchase agreement to acquire GNOG from Tilman J. Fertitta’s Landry’s Incorporated, and intends to list it on the Nasdaq exchange – which will make GNOG only the second publicly traded online casino company in the United States. 

The acquisition is expected to be completed in Q3 2020, at which point acquisition company Landcadia II plans to change its name and Nasdaq trading symbol to GNOG. 

GNOG’s valuation of $745 million is based on 6.1 x GNOG’s estimated 2021 revenue of $122 million, and the deal is expected to involve a mix of cash and equity. Landcadia II will also be taking over $150M of GNOG debt. 

After payment of the purchase price, debt repayment and transaction fees, Landcadia II/GNOG is expected to have a balance sheet of at least $80M, and pro forma equity market capitalisation of around $700M.

GNOG’s current owner, Tilman Fertitta, will continue as CEO and chairman of the company after acquisition, and Thomas Winter will also remain as president. Fertitta Entertainment, Fertitta’s holding company is also co-sponsor of Landcadia II, along with Jefferies Financial Group Inc. 

Discussing the acquisition Co-Chairman of Landcadia II and CEO of Jefferies LLC, Rich Handler, said:

“GNOG is one of the best positioned companies to capitalize on this massive online gaming opportunity in the US. We at Jefferies couldn’t be more thrilled to partner with Tilman and bring this great opportunity to the public markets.”

While Tilman J. Fertitta added:

“Golden Nugget is one of the most time-honored brands in the gaming business today. When customers hear the name Golden Nugget, they know they are dealing with a trusted online gaming business. 

“Thomas and his team have done a remarkable job, are the best in the industry, and with this transaction, will have access to growth capital to allow for the rapid expansion of the business.”   

GNOG has been operating in New Jersey since 2013, and in 2019 generated net income of over $11M. 

AYO.NEWS says:

This deal is certainly a vote of confidence in the potential of the US online gaming markets, and given the current global economic crisis – during which iGaming has performed extremely well – we’re sure there’ll be plenty of appetite from investors when GNOG goes public. 

Staying with the New Jersey online casino sector, last week Ainsworth Game Technology entered an exclusive partnership with Roar Digital, the joint venture between MGM Resorts International and GVC Holdings. 

‘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

Specialist virtual games provider Kiron has become the first supplier to provide online virtual content in South Africa.

South Africa-based Kiron’s Jika Sports brand, which offers localised versions of the supplier’s virtual football and horseracing products, was first launched with South African retail operators in September 2019, but will now be available to online players at major brands including Hollywoodbets, Supabets, Betway, and World Sports Betting.

Jika soccer is available in English, Italian, and Spanish league formats, while Jike Racing features Kiron’s market leading suite of racing games, including horse racing, motor racing, jumps, and greyhounds. 

Discussing the news co-CEO of Kiron, Steven Spartinos, said:

“Being the first to go live online in our home country with Jika Sports is a great milestone for us and our team, giving testament to the value proposition presented by our strong games portfolio and localised offering.

“South Africa has a long established and successful track record as a key regulated market internationally and the positive uptake of Jika Sports demonstrates the growing demand for fresh content among both players and operators locally.”

Kiron was also the first virtual supplier to go live in the Spanish online market, launching with R. Franco Group’s online brand Wanabet in November 2019, and just last week became the first to introduce virtuals to the Colombian market, going live with Betplay. 

AYO.NEWS says:

With the real-life sports still severely disrupted by the ongoing COVID-19 pandemic in many regions, and the real prospect of further outbreaks and lockdowns, virtual sports are becoming a necessity for operators, and Kiron seems to be leading the pack. 

‘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

888 Holdings has revealed that adjusted earnings before interest, tax, depreciation, and amortisation (AEBITDA) for 2020 will be ahead of previous expectations.

The London-listed company has emerged as one of the strongest performers on the FTSE 250 index, with average daily revenue for the year-to-date 34% higher year-on-year. 

888 attributes the success to an increased level of customer acquisition in the second half of 2019, and its shift towards online gaming – which was significantly accelerated during the COVID-19 crisis over recent months.

Reflecting on the performance Chief Executive of 888 Holdings, Itai Pazner, said:

“We are pleased with 888’s trading during the year-to-date which has resulted in the board now anticipating that adjusted Ebitda for 2020 will be significantly ahead of its prior expectations. This performance builds on 888’s strong customer acquisition during 2019 and our continued focus during recent years on entertaining a greater number of recreational customers.

“888 is well positioned to continue to benefit from a potential long-term shift towards online services that we have seen accelerate across several consumer industries during the COVID-19 pandemic.”

However, the Gibraltar-based operator did sound a note of caution, pointing out that a prolonged period of global economic uncertainty could lead to lower discretionary spending by consumers. 

Staying with 888 Holdings, last week the company announced a global partnership with Betgenius, covering both in-play and pre-match content. 

AYO.NEWS says:

Given the unparalleled damage the COVID-19 crisis has wreaked on most industries, it’s encouraging to see this announcement from 888. It also underlines the wisdom of some of the changes the company made in the run-up to the crisis, which put it in a much better position to weather the storm than some of its rivals. 

Of course, we would have to concur with the warning about a prolonged economic crisis. After all, though online casino, virtual sports, and esports betting is doing very well right now, we should bear in mind that many workers haven’t actually lost their jobs yet due to companies getting emergency government support – especially in Europe. When that support is withdrawn, the true economic picture will emerge…

‘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

Multi-channel supplier of 24/7 betting services, SIS (Sports Information Services), has acquired the full shareholding of 49’s from GVC and William Hill. 

SIS will take ownership of 49’s live draws product and its virtual horseracing brands Portman Park, Sprint Valley, and Steepledowns, plus virtual greyhounds from Brushwood and Millersfield. 

The acquisition has expanded SIS’s product portfolio and fits within its existing 24/7 racing channels that have proved successful with both retail and digital betting operators. 

SIS says it is also developing a range of new numbers and virtual content which will be part of the 49’s brand, and that acquisition complements its progress in launching new products, including its esports competitive gaming product that recently launched with bet365. 

Discussing the acquisition CEO at SIS, Richard Ames, said:

“49’s has a long history of supplying high quality, market-leading content to UK and Irish bookmakers and the product range is much loved by consumers. Over recent years, SIS has successfully extended the brand worldwide and it makes perfect sense to now take the further step of acquiring the business. We have great plans for the brands and will announce shortly a range of new and extended products as part SIS’ numbers product strategy.”

While Chairman of 49’s Limited, Mike Jones, added:

“We’ve worked in partnership with SIS for the last 20 years and they are uniquely positioned to be able to further expand the 49’s brand internationally. We look forward to seeing how they build on the excellent work the team has done over the last few years to position 49’s as a leading numbers product.”

AYO.NEWS says:

Despite the gradual resumption of live sports, it’s clear that many companies have been spooked by the COVID-19 crisis, and the spectre of more waves and lockdowns, and are keen to invest in expanding their virtual and non-live sports offerings. 

‘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

Ainsworth Game Technology has entered an exclusive partnership with Roar Digital, covering the launch of a series of online slots in New Jersey. 

The agreement will see 20 Ainsworth games go live with Roar Digital online casino brands BetMGM, Borgata, and Party. Roar Digital, a joint venture between MGM Resorts International and GVC Holdings, will benefit from a period of exclusivity when it comes to launching the various Ainsworth products. 

Commenting on the deal Ainsworth online general manager, Jason Lim, said:

“We are thrilled to be live across ROAR Digital’s network in New Jersey. Ainsworth games have been extremely popular with New Jersey land-based players for several years and we’re excited for online players to have access to our proven and high-performing content.”

While Roar Digital CTO, Kevin Allan, added:

“This was an incredible journey and we are proud that ROAR is providing the hosting solution from our New Jersey infrastructure to enable this great partnership with Ainsworth to come to life. This blueprint can be used for other providers, both in New Jersey and other legalized online gaming states with the US.” 

AYO.NEWS says:

The COVID-19 crisis and its decimation of sports betting has given an added impetus to the online casino vertical in the United States. This week alone we’ve seen DraftKings launch a stand-alone casino app in New Jersey, and arch-rival FanDuel launch a casino app in neighbouring Pennsylvania, while Evolution Gaming has said the North American market is a driving force for its NetEnt takeover bid. 

‘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