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NYX Gaming Finalises Deal for £270m OpenBet Acquisition

NYX Gaming, a leading digital gaming supplier, has completed the acquisition of rival sports betting platform provider OpenBet.

On Monday, the Toronto-listed company issued a market update which confirmed that the £270million co-funded deal has been finalised, more than a month after it was originally announced.

On April 4th, NYX Gaming announced that it is acquiring 100% of OpenBet’s assets from private equity Vitruvian Partners. The online technology company received a contribution of £80million from William Hill, a UK betting operator, and an additional £20million from Sky Betting & Gaming.

The acquisition will have NYX Gaming repay OpenBet’s outstanding £95million corporate debt.

In exchange, NYX Gaming will get over 2,000 desktop and mobile game titles on the OpenBet platform, and a combined workforce of 1,100 staff based in 14 countries across Europe, North America, Asia, New Zealand and Australia.

Matt Davey, CEO of NYX Gaming, said that acquiring OpenBet marked the “next phase of the company’s growth,” enabling the firm to service “exciting player-driven solutions across all verticals and channels.”

Davey said “We now turn our focus to planning and executing the strategy to leverage the collective strengths and benefits of scale that the combined business brings to our customers and shareholders.”

Further good news for NYX Gaming was the successful acquisition of OpenBet which saw its revenue almost double in 2015 following a year packed with new client deals and acquisitions.

Revenue for 2015 was up 92% to $53.3million and gross profits gained 86% to $44.8million, but NYX Gaming also recorded a net loss of $8.4million partly due to the troubled Ongame online poker product, which was worse than the loss of $7million in 2014.

In an earlier interview, Davey said that the company hopes to convince Amaya, who sold Ongame in 2014, to switch its BetStars sports betting product to the OpenBet platform. The executive admitted that there is no guarantee that Amaya will abandon its existing sports platform, but with OpenBet powering a host of the UK market’s biggest bookies, “you would have to imagine [Amaya] would consider our product favourably.”

If you are interested in purchasing tickets to SiGMA16, Malta’s biggest upcoming gaming event this November, click here to register: https://maltaigamingsummit.com/register/
The early bird offer is available until the end of May.

Mr Green forecasts further revenue growth after Q2 achievements

Mr Green, an operator residing in Malta, is expecting a significant revenue growth from locally regulated markets. After great performance in Q2,  the company’s revenue went up from SEK161.4 million in the second half of the last year to  SEK194,8  million (€20.7 million) in the first 6 months of 2015.

Per Norman, CEO of Mr Green, comments on the performance: “Mr Green continued to outgrow the market, while an intensified focus on cost control and more effective marketing also resulted in a 10.5% improvement in EBITDA. It is gratifying that we could guide the operations towards regulated markets to a greater extent during the quarter. This is a priority since it reduces risks and increases the predictability of our operations.”

A few weeks ago, Mr Green was licensed by the UK Gambling Commission, which was one of the key to the success. The UK has become the second most important local market (after Italy) where the company holds a local license.

By clicking here, and applying  for SiGMA15, you can meet some of the senior staff members from Mr. Green attending SiGMA.

Betsson profits grow, bigger workforce needed

Betsson, whose Malta-base employs a strong 750+ workforce, saw revenue rise by almost 25% in the last quarter of 2014, a new quarterly record of €86 Million. 2014 overall figures leaped forward in part thanks to last February’s acquisition of the Oranje and Kroon Casino brands. Poker profits, in contrast, fell by 20% due to Poker’s declining popularity in Betsson-friendly markets, specifically Scandinavian.

In light of this steady growth, Ulrik Bengtsson (Betsson CEO) argued that the gaming sector in Malta was finding it difficult to hire suitable candidates with the right talent. As a result, with the support from the University of Malta, this summer, paid internships will be offered to University students reading degrees in statistics, computing and data sciences.

Bengtsson went on to elaborate, “We have found it very hard to recruit in this field and can easily absorb those who are qualified. The interesting thing is that many of the students do not realise that these skills are required for i-gaming. It is not intuitive that we also require statisticians and data scientists.”

Internship applications will be open until the 20th February, 2015. The outcome will be announced by March same year. Further information may be collected by emailing Betsson at academy@betssongroup.com.

Cherry revenues soar in first half of 2014

Cherry, whose operation is heavily based in Sliema, Malta, has recorded a soar in revenue over the first six months of 2014, totaling over 16 Million Euros.

The main reason for this growth was due to online gaming, with CEO Emil Suvisson stating that “it has been a very positive first six months” and that “online gaming continues to grow faster than the market”.