Push Gaming

Nicola Longmuir has been appointed as chief commercial officer of Push Gaming, in a move that the developer hopes will further boost in global footprint across a range of key markets.

Said to form “a key centre piece in Push Gaming’s business development plans,” Longmuir will be spearheading the company’s strategic goals for marketing, product and sales, as well as cultivating existing relationships with its growing global operator portfolio.

James Marshall, CEO at Push Gaming, commented: “Nicola Longmuir is a highly skilled professional boasting a wealth of successful experience working for some of our industry’s best-known brands, and we are thrilled to have her aboard.

“We see this hire as a gamechanger for us and we’re sure Nicola will prove to be a massive boost towards reaching our goal of becoming a market leader.”

Pragmatic Play

Online casino content provider Pragmatic Play has expanded its senior team further still after appointing Solomon Godwin as content manager for the African region.

Following hot on the heels of the appointment of Victor Arias as VP of Latin America, Godwin will gain responsibility for growing the firm’s network of partners across the region and expanding its reputation with the help of the supplier’s multi-product portfolio.

Pragmatic Play’s developmental strategy will be focused on ensuring its product suite enhances its presence across the continent.

Lena Yasir, VP of Malta at Pragmatic Play, stated: “We are delighted to bolster our growing senior team with the hiring of Solomon. Having regional leaders allows us to accelerate our expansion through a sizeable presence in the region and we’re thrilled to have Solomon on board.”

1X2 Network

Former NetEnt and Red Tiger hire Rory Kimber has been drafted by 1X2 Network, with the game developer and content aggregator strengthening its senior team with a new head of account management.

Kimber will be tasked with heading up the account management team at 1X2 Network and its subsidiaries 1X2gaming and Iron Dog Studio, as well as taking the lead on commercial projects affecting the providers client base, including those such as the Branded Megaways product.

He will also strive to utilise his extensive knowledge and experience to drive growth commercially and setting and deploying strategies for communicating with clients new and existing. Kimber will also build out the team by onboarding new talent.

Kevin Reid, chief commercial officer at 1X2 Network, said: “I am delighted to welcome Rory to the company and for him to lead our Account Management team into what is a hugely exciting period for the business and our 1X2gaming and Iron Dog Studio brands.

“Branded Megaways is our latest innovation and we have plenty more in the pipeline. Rory will play a key role in introducing our products, games and services to new and existing partners as we look to establish 1X2 Network as a tier one provider in markets around the world.”

Entertainment Laboratories

Entertainment Laboratories is on the lookout for a new chief financial officer after current incumbent Adam Jonsson announced his attention to leave the company.

Having served for just over two years in total at the company, Jonsson first joined Enlabs as group controller and gained responsibility for investor issues, before his appointment as CFO in December 2019.

Jonsson will remain in office until he leaves Enlabs in October 2020, with the process of appointing a replacement having subsequently begun.

“Adam has played an important role within Enlabs and has contributed a lot to our development. I will miss our close cooperation and wish Adam all the best in his further career,” commented Enlabs CEO George Ustinov.

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2021

René Jansen, chairman of the board at Netherlands regulator Kansspelautoriteit, has asserted that everything remains on track for the Remote Gambling Act to enter into effect on March 1, 2021.

Making a keynote address at a Gaming In Holland conference, Jansen backed-up previous assertions that from the aforementioned date onwards, it will be possible to submit applications for online gambling licences. That, in turn, means that the online gambling market will open on September 1, 2021.

A number of crucial steps ahead of the licensing process were also addressed by the KSA chair, with Jansen saying that the country’s central exclusion register, CRUKS, has been handed over to the operational managing party, Netcompany.

Furthermore, the control database, the instrument online operators will use to monitor gambling behaviour and that will serve as the basis for Ksa’s digital supervision of the operators, is also said to be “ready to go”.

5,000

Åland-based gaming firm Paf has announced another reduction to its annual loss limit, bringing the figure down by a further €5,000 to €20,000.

Aiming to strengthen its commitment to responsible gaming further still, and gaining support from the Red Cross, the latest reduction will equate to a €2m-€3m drop in income for the group.

“It is a large sum of money for Paf, but more importantly it is good for our customers that we say no to it,” noted Christer Fahlstedt, Paf CEO.

When Paf first introduced the loss limit in 2018 it was set at 30,000 euros per year, before the group detailed its first loss limit reduction to €25,000 during 2019.

Two years ago Paf became the first international gaming company to introduce a maximum limit for the amount customers can lose in one year. The new lower loss limit of €20,000 comes into force on January 1, 2021 and applies to all online customers.

5

The Competition and Markets Authority in the United Kingdom is investigating whether the proposed acquisition of NetEnt by Evolution Gaming will lessen the competition in the region’s igaming market.

The UK’s competition regulator officially announced the launch of its merger inquiry by notice to those concerned yesterday, before inviting comments on the purchase by any interested party.

These comments need to be provided before the invitation closes on October 5, following which the CMA will proceed to its analysis stage of phase one before reaching a decision on whether to enter phase two or close the inquiry on November 16.

Evolution Gaming had previously expressed an expectation of closing the transaction on November 2, with an acceptance period commencing on August 17, 2020 and expiring on or around October 26, 2020.

548

Almost a quarter of people infected with COVID-19 in the Nevadan region of Clark County, which includes the Las Vegas strip, may have contracted or spread the virus at a hotel, motel or resort, reports the Reno Gazette Journal.

Commenting that a connection between positive cases and the strip could exist, Julia Peek, deputy administrator of the Nevada Department of Health and Human Services, said that 26 per cent of those infected in the region during a 30 day period in August had visited one of the aforementioned facilities.

This comes as casino properties document their own testing numbers, with the Journal also stating that Las Vegas Sands had recorded 399 positive cases at the Venetian and Palazzo venues since reopening in June. However, it is added that not all were discovered during on-property testing.

Furthermore, Wynn Resorts has also provided an update on its testing and contact tracing program for Wynn Las Vegas, continuing a prior pledge for public transparency regarding its efforts to keep guests and employees safe during the pandemic.

In partnership with University Medical Centre, the group has conducted 15,051 tests of its employees resulting in 548 positive cases, for a positivity test rate of 3.6 per cent. Of those, 51 positive results were pre-reopening and 497 were post-reopening, for a 3.3 per cent positivity rate regarding the latter.

11

Entertainment Laboratories has made its mandatory public offer to secure the remaining shares in Global Gaming, after previously taking its holding in the firm to 27,266,114 shares which corresponds to 66.70 per cent stake.

The offer value for the remaining 13,611,386 shares in global gaming is SEK 11 apiece, or SEK 149.72m (£13.18m), and therefore values all shares in the company at approximately SEK 450m (£39.63m).

Furthermore, Enlabs offers all shareholders in Global Gaming a consideration, for each share in Global Gaming, of either: the cash consideration, the share consideration, or a combination corresponding to 50 per cent of each.

The group will publish a document regarding the proposed takeover, which is expected to take place around October 2, 2020. The acceptance period is anticipated to begin around October 5, 2020 and end approximately November 2, 2020.

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The offer value for the remaining 13,611,386 shares in global gaming is SEK 11 apiece, or SEK 149.72m (£13.18m), and therefore values all shares in the company at approximately SEK 450m (£39.63m).

Furthermore, Enlabs offers all shareholders in Global Gaming a consideration, for each share in Global Gaming, of either: the cash consideration, the share consideration, or a combination corresponding to 50 per cent of each.

The group will publish a document regarding the proposed takeover, which is expected to take place around October 2, 2020. The acceptance period is anticipated to begin around October 5, 2020 and end approximately November 2, 2020. 

Enlabs, which says that will not increase the offered consideration, will see the board of directors of Global Gaming, or an assembled independent bidding committee, publish its opinion, and the reasons for this, no later than two weeks before the expiry of the acceptance period.

Lauding the transaction as a central part of its continued expansion strategy, the group assesses that economies of scale and cost savings are expected to arise by operating both parties under the new group.

It is also expected that in addition to brand-related revenue synergies, cost savings and efficiencies regarding overlapping staff functions, as well as knowledge transfer and best practices within IT, marketing, and compliance should amount to in the region of €5m (£4.59m) per year.

Documenting its reasons for the offer, it was explained that: “Enlabs is of the opinion that the global market for igaming services is currently undergoing extensive changes, which justifies continued sector consolidation. Furthermore, in line with previous communication to the market, the company believes that acquisitions are a central part of its continued expansion. 

“Global Gaming is a challenger in the igaming industry, delivering innovative and safe gaming services. Enlabs believes that Global Gaming has a strong market position through the casino brands that Global Gaming holds primarily in Finland, but also in Estonia and some other countries. 

“Accordingly, Enlabs market position through the casino brands that Global Gaming holds primarily in Finland, but also in Estonia and some other countries. Accordingly, Enlabs assesses that Global Gaming conducts operations that are strategically complementary to Enlabs’ existing operations, where Estonia is a main market and Finland is a growth market. 

“Furthermore, Enlabs sees that Global Gaming’s brands have the potential to be launched in Enlabs’ current main markets Estonia, Latvia, and Lithuania, as well as in certain geographical markets where neither Enlabs nor Global Gaming are active today, which Enlabs considers to be potential growth markets, such as Ukraine.

“In addition, Enlabs views positively the possibility of enabling further geographical expansion for Enlabs’ own brands through the acquisition of Global Gaming.”

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Outlined as a key operational priority earlier in the year as part of a five-point strategy as the group aimed to adapt to growing external challenges, it is hoped that the NPL will deliver an enhanced product with superior user experience and significant operational efficiencies.

It is said that the platform allows customers to benefit from a faster and more stable gaming experience while providing real time dynamic reporting and player management tools. 

“Enlabs delivered on its promise to customers in Latvia – Optibet is now much improved, faster and even more entertaining,” said George Ustinov, Enlabs CEO.

“The migration was performed in a professional and controlled manner. An excellent execution by the outstanding tech team with strong support from the whole organization.

“This feat marks a significant milestone in Enlabs Group development. We are in full control of our future with modern and proven technology at the backbone of our operations.” 

Enlabs Estonian brand, Optibet.ee, now remains the sole operation running on the group’s old gaming platform, with final migration to take place during November 2020. 

The organisation says that its single technology platform will enable a shorter time-to-market for every new product and content release, brand launch and jurisdictional debut, as well as creating a higher level of efficiency and resulting in major cost savings.

Davit Khatiashvili, CTO of Enlabs, explained: “We started the development of the new gaming platform in 2017 and now we have completed our largest migration to date. 

“Considering the age of the website and related size of the player database, the whole migration process was performed within a short downtime of the Optibet.lv website during the night between Sunday and Monday. 

“All other domains remained fully operational. The efficiency of how the team executed this challenging project is impressive! I am very proud and happy to work with such loyal and highly skilled professionals.”

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The group says that it will migrate operations under its own licenses to its proprietary platform, add Enlabs’ sportsbook BetX and provide full support to accelerate business growth.

The acquisition of Shogun, which currently operates through a third party gaming platform under Maltese license and is said to have just left the start-up phase, will be done in two stages.

Firstly, Enlabs has bought the 66.5 per cent majority interest in Shogun from a group of investors for €664,000, which will be settled by issuing 229,995 new Enlabs shares. The remaining 33.5 per cent ownership is held by the Shogun founders.

In addition Enlabs will invest €1m into the Shogun business operations, as well as holding an option to buy the remaining 33.5 per cent in January 2023 for a valuation of five times its net profit.

“The collaboration with Enlabs and becoming a part of the Enlabs organisation will ensure the ongoing success of Shogun and gear up our development plans,” explained Eric Holmberg, Shogun Group co-founder. 

“In addition, new possibilities will arise through Enlabs. This is a great development and we are very excited for the future.”

The latest move follows Enlabs increasing its stake in Global Gaming after making a further investment of SEK 108.65m (£9.43m) to take its holding in the firm to 54 per cent.

In June, Enlabs became Global Gaming’s largest shareholder after making an initial investment of more than SEK 90m (£7.69m) to take its total ownership to 29.89 per cent.

“Our investment into Shogun Group will compliment and speed up our development into new markets bringing to the table new brands and proven regional sales expertise,” commented George Ustinov, Enlabs CEO.

“It is an exciting opportunity to take a white-label operation in-house in order to enrich our sales knowledge, and test and develop our technical capabilities. Enlabs makes a confident step towards becoming a more global igaming operator.”

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The collaboration comes shortly after the Lithuanian regulator passed new regulations to allow live casino, and follows Ezugi securing its own certification to enter the region last month.

The partnership will see more than 30 blackjack, roulette and baccarat tables added to the Optibet brand, including a Russian language roulette and speed roulette variants.

Enlabs says that it is striving to ensure that it’s Optibet brand offers “a one stop shop” where customers access “high quality products” to suit all preferences, with its live casino addition reinforcing its strategy.

Chris Davis, head of gaming at Enlabs, stated: “We are very excited to be able to add a new and very important vertical to our fast-growing brand in Lithuania. I’m confident that the combination of Ezugi’s high quality live casino and the unique promotional tools of our new gaming platform will be a huge success.”

Striving to grow its presence in regulated markets worldwide, Ezugi, which has formed a part of Evolution Gaming Group since January 2019, became “the first live dealer to launch in Lithuania”.

The supplier said that it had targeted the jurisdiction due to the “tremendous potential in the market as live casino continues to gather popularity with players around the world”. Certification came after testing standards were successfully met.

Certification in Lithuania comes shortly after Ezugi secured approvals from regulators on the Isle of Man as well as in Estonia and Bulgaria.

Pang Goh, business development director at Ezugi, said upon achieving approval: “We are delighted to have secured certification and will be completed several successful launches in the coming weeks with our key partners in Lithuania 

“The team has done an incredible job when it comes to ensuring our games meet the high standards set by the regulator making us confident of our ability to meet them.”

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Declaring the intention to make a mandatory offer, Enlabs’ latest investment sees the firm acquire 9,878,086 shares in the company for SEK 11 apiece. These will be paid with 50 per cent cash and with the remaining half by issuance of new shares in Enlabs. 

This follows Enlabs becoming the largest shareholder in Global Gaming in June after making an initial investment of more than SEK 90m (£7.69m) to take its total ownership to 29.89 per cent.

Subsequently increasing its interest to 54.06 per cent of all shares and votes in Global Gaming, the latest acquisition means that Enlabs is obliged to, within four weeks, make a public offer to tender the remaining shares in the company.

In a media statement, Enlabs subsequently outlined its intention to, within the aforementioned allotted time frame, make a public offer to acquire the remaining shares in Global Gaming. 

In such a public offer, Enlabs will offer all shareholders to transfer their shares against a consideration corresponding to SEK 11 per share, which is said to be approximately 34 per cent above the average price for Global Gaming during the last ninety days of trading. The consideration will not be increased by Enlabs.

In the firm’s latest financial statement, George Ustinov, CEO and president at Enlabs, said of the initial moves made: “We see this as a strategic investment and important milestone in our development. Enlabs and Global Gaming complement each other well as we both operate on the same markets in Finland and Estonia. 

“Global Gaming’s brand Ninja Casino is one of the best-known brands in the gaming industry and are pioneers of pay and play technology. This brand has unlimited international expansion potential. 

“Here, Enlabs brought to the table our proprietary gaming platform, variety of gaming licenses, regional sales know-how and our own sportsbook product. Jointly, we will strengthen our leadership position in the Baltic Sea region.”

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With disruptions endured in Latvia, where parliament suspended all gaming licenses in the country from April 8 to June 10, and Lithuania, where retail operations ceased for much of Q2, Enlabs has reported a series of decreases in its latest financial report.

Total group-wide revenue during the quarter fell 35 per cent to €6.1m (2019: €9.4m), with gaming revenues dropping 37 per cent to €5.4m (2019: €8.6m). Geographic distribution of gaming revenues is 85 per cent from Baltic markets, Estonia, Latvia, and Lithuania, and 15 per cent from emerging markets. 

Net profit for the quarter decreased 76.3 per cent from €2.02m to €480,000, and EBITDA plummeted 81.8 per cent to finish up at €457,000 (2019: €2.51m).

For the six month period to June 30, 2020, revenues totalled €16.6m, a 10 per cent decrease from €18.4m, net profit dropped 39.3 per cent from €4.33m to €2.64m and EBITDA closed at €3.24m, down 38.8 per cent from €5.3m.

George Ustinov, CEO and president at Enlabs, said of return to action: “Enlabs’ customers have welcomed our return in Latvia with several daily activity records proving that regulated local operators can always better cater for customer demands. 

“This also showed more broadly than ever that balanced regulation aligns the interests of players, operators and government authorities. The regulatory landscape has stabilized in all three Baltic countries with their COVID-19 related restrictions lifted. 

“All Enlabs brands and retail betting shops are now fully operational. The Enlabs team stayed strong together. We avoided job cuts and calmly switched to remote work. Since June, all Enlabs offices are open with safety measures in place.”

During the two months of closures in Latvia, Enlabs worked upon a second brand launch, with Laimz.lv, a mobile-first gaming product offering online casino and bingo, debuting one day after the state of emergency was ended. 

Furthermore, the company, which acquired a 29.9 per cent stake in Global Gaming to become the largest single shareholder, has also detailed several other expansion strategies that are either in works or have been carried out.

As well as joining Playtech’s iPoker network and introducing esports betting with EveryMatrix, following the culmination of Q2 Enlabs’ flagship Optibet brand has soft launched in Peru and Chile with localised content, services and offers as well as relevant payment solutions.

A renewed focus placed upon the Swedish market, with significant product improvement prioritised for the remainder of the year, has pushed back an online launch in Belarus to 2021, with the firm also eyeing Ukraine after a new law was passed regulating online gaming.

“Enlabs has experience and knowledge in this market and believes it can implement a compelling offer for local customers,” Ustinov added on the firm’s Ukrainian ambitions.

“Regulation creates financial barriers for entry, however, it still enables competitive and balanced regulated market development. To an extent, the Ukrainian regulation resembles a mix of what Enlabs currently faces in our core markets, but the final version is still under discussion.

“Enlabs will enter the Ukrainian market as soon as legally possible. According to unofficial market statistics, an online gaming market may be worth around €300m and growing in a country with a population of €42.2m.  

To close, Ustinov added: “Considering the market recovery in June, the return of sports activity, and our packed road-map going forward, we are looking toward growth in Q3. 

“In July Enlabs’ consolidated gaming revenue was up 11 per cent compared to the same period a year ago. Business is back on a strong momentum.” 

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Under the terms of the partnership, Enlabs is to utilise the Playtech poker product, as well as integrate a suite of online casino content including access to branded titles such as Justice League and the Sporting Legends Suite.

Maksims Gorbacs, head of poker at Enlabs, noted: “We’re delighted to expand our poker and casino offering with Playtech and bring its industry leading content to our customers.

“Playtech’s scale and innovation are powerful tools when looking to deliver the best player experience in growing and established markets alike. We look forward to developing this partnership further as we continue to grow our content offering.”

Securing entry into the Latvian poker market as a result of the deal, Playtech asserts that the link-up falls in line with a wider group strategy of focusing on growth across regulated markets globally.

Marat Koss, head of poker at Playtech, explained: “We’re truly excited to partner with Enlabs and welcome Optibet and BestPoker to the iPoker network. The Poker market is facing undeniable challenges, but at Playtech, we’re continuing to invest in expanding and evolving our software and network to address the future head-on. 

“Our active development of new products and expansion into new markets demonstrates Playtech’s commitment to the poker vertical. We are joining forces with a very professional and experienced poker team led by Maksims Gorbacs and I have no doubt that this partnership will be fruitful and productive”

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Major disruption impacted the firm through a temporary suspension of all gaming licenses in Latvia, this saw the closure of all online operations between April 8 and June 10 as well as retail from March 22 to June 10.

Furthermore, all retail operations across Lithuania were shutdown between the dates of March 18 and May 18. Enlabs operates thirty-one betting shops in the two countries.

Publishing the update ahead of its interim report on August 20, the company estimates that second quarter revenue will amount to €6m and that results in both net profit and EBITDA will finish in the region of €500,000.

Despite the challenge posed by the global sporting suspensions, Enlabs asserts confidence that via a variety of operational measures and cost reduction actions implemented a stronger performance on group level will be felt from the third quarter onwards.

“Enlabs customers have welcomed our return in Latvia with several daily records in activity proving that regulated local operators can always cater better for the customer demands,” explained George Ustinov, CEO of Enlabs. 

“Enlabs team has been safe and is fully operational. It feels that we as a group have become stronger, more aligned and focused on execution. With the challenging Q2 behind us, we look forward to a rewarding second half of 2020.”

For the 21 days from restart in June, the online average daily NGR in Latvia was up ten per cent compared to the same figure for Q1 2020 and 21 per cent compared to 2019’s second quarter.

Combined Latvian and Lithuanian retail market daily average NGR during the last 21 days of June was down 3 per cent compared to the same figure for Q1 2020 and 19 per cent when contrasted to Q2 2019. Retail betting revenue amounted to four per cent of total Enlabs total revenue in Q1 2020.

For the first two weeks of July, Enlabs consolidated gaming revenue was on par with the same period a year ago, although with a 25 per cent lower gaming margin. Active customers are up 15 per cent year over year, while deposit amounts having risen 14 per cent.

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