The Malta-based slot studio will gain increased visibility across the two nations by integrating games into the Flutter-owned operator’s online casino platform. Hacksaw Gaming praised the Sky brand as “an industry titan”. 

Marcus Cordes, CEO of Hacksaw Gaming, praised the deal, stating: “We’re incredibly proud to welcome Sky, an industry titan, to our growing roster of partners. Sky’s reputation for excellence speaks for itself, and we’re confident their players will embrace our cutting-edge content and distinctive style.”

As a result of the collaboration, Hacksaw Gaming slot releases such as Wanted Dead or a Wild, Chaos Crew 2 and Le Bandit will reach further players across the UK and Ireland, providing the studio with growth in one of Europe’s legacy markets. 

Additionally, the partners have already confirmed that plans are underway to add Hacksaw Gaming’s roster of Dare2Win instant games to Sky’s UK&I offering in the future. 

Joseph Williams, Content Manager for Sky Betting & Gaming, added: “We’re elated about this new collaboration and can’t wait to see what the future holds. With a partner as innovative and renowned as Hacksaw Gaming, we’re confident our players will love the exciting variety these games bring to our platform.”

The move adds to a busy period of European expansion for Hacksaw Gaming after the studio entered the Swiss market for the first time last month in partnerships with Grand Casino Baden and Gamanza Group. 

Following that deal, Cordes explained: “Our collaboration with Gamanza Group AG and Grand Casino Baden is a significant first step into Switzerland. It allows us to showcase our innovative games to a new audience and aligns perfectly with our global mission of delivering high-quality content.”

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The deal will integrate Octoplay’s full games portfolio into the operator’s offering via the supplier’s proprietary game server.

Sky Betting & Gaming’s parent company, Flutter Entertainment, already has a preexisting partnership with Octoplay, after securing a similar content deal for its Paddy Power and Betfair brands in December last year.

“Octoplay has quickly become a sought-after game provider and we are delighted to have added a selection of its Smash Games to our casino lobbies,” commented Philippa Ayres, Head of Content at Sky Betting and Gaming.

“These are highly engaging games that draw players in with their fun themes and action-packed gameplay. They also bring differentiation to our offering at a time when players are seeking more non-traditional slot content. This is a really strong partnership for us and Octoplay.”

Launching in 2022, Octoplay promises titles that deliver “explosive and rewarding gameplay” which push the “boundaries with features such as jackpot hunt”.

Ralitsa Georgieva, Director of Business Development at Octoplay, added: “Sky Betting and Gaming is a top-flight operator with a large and loyal player base that we hope will fall in love with our games.’

“The fact that we are able to partner with such an esteemed operator shows just how far Octoplay has come in a short space of time and proves that we are hitting the mark with the games we are developing and launching.

“This is another important deal for us as we continue on our mission to become the leading supplier of thrilling online casino content to operators in regulated markets.”

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As for outside the US, Chief Executive Peter Jackson noted that the group achieved “strong momentum” in the UK and Ireland during the fourth quarter, as operations traded “in line with expectations”, but revenue declines were seen in Australia.

Flutter US operations gaining strength

Publishing a trading update, Flutter declared a total revenue for Q4 of £2.7bn, up 11 per cent year-over-year and 15 per cent YoY constant currency (Q4 2022: £2.4bn) with average monthly players rising by 12 per cent YoY as well to 13.6 million (Q4 2022: 12.1 million).

Per segment, sports betting revenue improved by eight per cent on the previous year to £1.7bn (Q4 2022: £1.5bn). Gaming revenue rose as well by 15 per cent YoY to £1bn (Q4 2022: £887m).

Excluding US operations, group revenue in Q4 rose by five per cent YoY (eight per cent YoY CC) to £1.53bn (Q4 2022: £1.46bn) with sports betting revenue increasing by six per cent YoY CC and gaming revenue rising by 11 per cent YoY CC.

Per region, US operations – FanDuel, TVG and PokerStars – continue to be the main source of revenue for Flutter, with £1.1bn generated in Q4, up 19 per cent YoY (26 per cent YoY CC) with gains in gaming partially offset by sportsbook net revenue YoY decline. AMPs for the operations also improved by 33 per cent YoY.

FanDuel operations achieved a 21 per cent YoY CC increase in revenue and a 53 per cent rise in sportsbook stakes, earning 43 per cent Q4 gross revenue market share (51 per cent net revenue share) which the group attributed to “pricing and risk management”. 

FanDuel Casino performed well too, with revenue rising by 49 per cent YoY CC with continued market share gains to 26 per cent in Q4, up five points YoY.

“In the US, FanDuel consolidated its sports leadership position during the peak quarter for sporting activity, while FanDuel Casino went from strength to strength.”

Flutter Chief Executive Peter Jackson

As previously mentioned, US growth in Q4 was partially offset by a sportsbook net revenue margin decline YoY of 150 basis points to seven per cent. 

Flutter noted that this decline was due to a 220bps expansion in sportsbook expected gross revenue margin YoY to 13.5 per cent, being offset by an “adverse sports results swing” YoY of 320bps due to “very customer friendly sports results in the quarter” (Q4 2023: -240bps adverse, Q4 2022: +80bps positive). There was also an increase of 50bps in promotional spend YoY to 4.2 per cent, in line with year-to-date spend levels.

Customer-friendly sports results impacted Q4 gross revenue by $343m (£270.5m), but this was “primarily mitigated by expected gross revenue margin being better than anticipated”.

US net revenue for Q4 stood at £1.1bn ($1.4bn), which was £147m ($225m) lower than the previous guidance stated in Q3, with an approximate 35 per cent flow through to adjusted EBITDA.

Jackson commented: “The group traded well in Q4 underpinned by our leading local brands supported by global Flutter Edge advantages. In the US, FanDuel consolidated its sports leadership position during the peak quarter for sporting activity, while FanDuel Casino went from strength to strength.

“While sports results were very customer friendly, particularly on the NFL in November, the underlying momentum in the business remains very strong heading into 2024.”

Revenue declines in Australia

Outside the US, UK&I operations – Sky Betting and Gaming, Paddy Power, Betfair and Tombola – saw their revenue improve by 19 per cent YoY (19 per cent YoY CC) to £647m (Q4 2022: £543m) with sports betting revenue rising by 18 per cent and gaming revenue improving by 21 per cent.

Flutter stated that market share gains were achieved through product improvements, as online revenue rose by 21 per cent YoY to £572m (Q4 2022: £472m), while retail revenue rose by six per cent to £75m (Q4 2022: £71m).

Australia’s revenue – Sportsbet – has taken a hit, falling by nine per cent YoY (two per cent YoY CC) to £304m (Q4 2022: £332m). 

International operations – Sisal, PokerStars, Adjarabet, Betfair and Junglee – stayed consistent with the previous year (four per cent YoY CC) to £582m (Q4 2022: £583m).

“Outside of the US, the quarter traded in line with expectations, with continued strong momentum in the UK&I supported by recent product enhancements and International growth driven by our ‘Consolidate and Invest’ markets,” noted Jackson.

FY2023 & looking ahead

For the fiscal year ending December 31, 2023, Flutter reported a total revenue of £9.5bn (2022: £7.7bn), up 24 per cent YoY (25 per cent YoY CC) with AMPs increasing by 20 per cent to 12.3 million (2022: 10.2 million).

Per segment, sports betting revenue rose by 21 per cent YoY to £5.8bn (2022: £4.8bn). Gaming revenue grew by 29 per cent YoY to £3.7bn (2022: £2.9bn).

Excluding US operations, group revenue improved by 16 per cent YoY (17 per cent YoY CC) £5.9bn (2022: £5.1bn), with sports revenue rising by 12 per cent, while gaming revenue grew by 24 per cent.

US operations revenue improved by 38 per cent YoY to £3.6bn (2022: £2.6bn), UK&I revenue rose by 15 per cent YoY to £2.5bn (2022: £2.1bn), Australia revenue fell by eight per cent YoY to £1.2bn (2022: £1.3bn) and International revenue increased by 36 per cent YoY to £2.3bn (2022: £1.7bn).

“We are very excited that the addition of a US Flutter listing is now just days away. This is a pivotal moment for the Group as we make Flutter more accessible to US-based investors and gain access to deeper capital markets.”

Flutter Chief Executive Peter Jackson

Following the end of the quarter, Flutter completed the acquisition of Serbian brand MaxBet to its portfolio on January 9, purchasing 51 per cent of the operation for a reported €141m (£121m)

In addition, the group also continues to prepare for listing on the NYSE, which they say is “on track” to take place on January 29, subject to the effectiveness of its Form 20-F Registration Statement with the US Securities and Exchange Commission.

Flutter added that it will report full-year 2023 numbers in US GAAP and US dollars and will provide 2024 guidance later this year on March 26.

Jackson concluded: “Subject to the effectiveness of our Form 20-F registration statement with the US Securities and Exchange Commission, we are very excited that the addition of a US Flutter listing is now just days away. This is a pivotal moment for the Group as we make Flutter more accessible to US-based investors and gain access to deeper capital markets.

“I am looking forward to 2024 and further building on the momentum within the group to continue delivering growth.”

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Aiming to “build an authentic connection with casino players”, the campaign celebrates “the big entertainment that can be found in life’s small moments” with a “more responsible direction” and playing “for excitement rather than only for the chance of big wins”.

Following research led by Sky Vegas, the different 30-second and 60-second adverts showcase ordinary people going through wins and losses in daily life moments. 

“We’re thrilled to be launching our new ‘big entertainment in the small moments’ platform and shaking up the category cliches,” commented Jonathan Lloyd, Head of Gaming, Brand and Propositions at Sky Vegas.

“Our research was conclusive; consumers feel that brands within the category don’t understand them and the existing category advertising tropes compound the distrust they already feel towards casinos.

“We aren’t only focused on the win, but all the feelings of entertainment that players get from online casinos: jeopardy, anticipation, connection – and even losing. That’s their lived experience with us, so it’s only right that we reflect that in our comms.

“We’re standing out from the category, building on the Sky brand equity, in delivering great, quality entertainment. We’re using real-world, everyday scenarios as metaphors for what Sky Vegas delivers to customers – entertainment in the small moments of the day that feels big and absorbing while you’re playing, but forgotten when they’re over.”

Produced and directed by the studio Who Wot Why, advert scenes across the campaign include a slow-motion leap over a puddle, a dramatic switch of supermarket queue and a widescreen biscuit dunk “with each small moment becoming cinematic in scale, but entirely relatable”. 

Stepping away from traditional “hype-led” advertising, the goal of Sky Vegas’ new platform is to “forge a realistic, honest and transparent connection with customers” and understand “the genuine experience of playing”. 

Sean Thompson, Executive Creative Director and Co-Founder at Who Wot Why, added: “The truth is, most of us play little games in life – games with a touch of jeopardy that we can win or lose and that feel ridiculously exciting in the moment.

“Winning and losing is part of life, even in the smallest moments, and it’s fundamentally important and responsible to embrace this in the category.”

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As the online casino content supplier looks to take its igaming suite “to an even greater audience”, the Flutter Entertainment entity will gain an added influx of titles.

This will see the casinos of Sky Vegas and Sky Bingo integrate games such as Flippin Rich LuckyTap, Break the Bounty LuckyTap and Test Your Strength LuckyTap, which is undertaken via Light and Wonder’s OpenGaming platform. DWG vows that additional titles will be available over the coming months.

Chrissy Ellard, Sky Betting & Gaming Content Manager, added: “We are delighted to announce our collaboration with DWG. In particular, the launch of their Lucky Tap portfolio will provide our Sky Vegas and Sky Bingo customers with a new and exciting way to play content. 

“We are proud to be the UK’s number one online casino and believe the launch of DWG’s legacy content portfolio, and their future roadmap, will help us continue to innovate our content offering and further drive our player experience.”

In recent weeks, DWG has adopted something of a US focus, via alliances with Rush Street Interactive, Caesars and DraftKings targeting Michigan and Pennsylvania, New Jersey and Connecticut, respectively. The supplier is also regularly featured in the Eilers-Fantini monthly online performance report.

The group entered the UK in May 2020 alongside Betfred, with a string of tie-ups having ensued alongside the likes of William Hill, Boylesports, NetBet and BetVictor.

“Joining forces with Sky Betting & Gaming is an incredibly significant milestone for DWG,” commented Troy Zurawski, CEO and founder of DWG. 

“Their prominence and influence in the UK gaming market are second to none. This collaboration allows us to present our games to a vast and passionate audience, showcasing our dedication to pushing boundaries and setting new standards in igaming.”

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As a result of this agreement, Evolution’s live casino content will launch on brands such as Sky Vegas, Sky Bet and Sky Bingo. Other Sky Betting & Gaming offerings include Soccer Saturday Super 6, Sky Sports Fantasy Football and ITV7.

The Flutter-owned Sky umbrella gaming brand is already live with Red Tiger online slots games, and is also soon to re-launch NetEnt online slots too.

“We recognise the strong performance of Evolution’s live casino portfolio and also the sheer breadth and variety of content, which is growing all the time,” stated Andrew Rushgrove, Gaming MD at Sky Betting & Gaming.

“Sky Vegas is proud to be the UK’s most popular online casino and we see a great opportunity in the live casino market. Evolution has some stand out titles in this space, such as Crazy Time and Lightning Roulette, along with an exciting 2023 roadmap so we’re delighted to be able to put their content in front of our players.” 

This will see Sky Betting & Gaming become the latest in the Dublin headquartered group’s network to utilise the Evolution offering, following “a landmark deal” previously being inked to provide live casino to Paddy Power and Betfair.  

Gionata La Torre, Evolution’s Chief Executive Officer Europe, added: “We are honoured to partner with yet another Flutter company, and one with such an impressive line-up of household name gaming brands. 

“Sky Betting & Gaming delivers incredible experiences in sports betting and online gaming to millions of players across the UK. We are very much looking forward to adding to those player experiences with our world-leading live casino.” 

Earlier in the month, Evolution stressed an aim of continuing “to widen the gap to competition” after the group reported that it had “wrapped-up a strong financial year 2022 with a very good fourth quarter”.

The Malta-headquartered company, which welcomed the €340m Nolimit City into the fold during the past year, saw revenue through 2022’s fourth quarter increase 35.7 per cent to €407.48m (2021: €300.23m).

Breaking this figure down, Evolution’s live casino segment contributed €334.94m, up 41.11 per cent from €237.35m year-on-year, with RNG increasing 15.35 per cent to €15.35m.

For the full-year, revenue rose 36.3 per cent to €1.45n (2021: €1.06bn), with the former of those reporting divisions topping the €1bn barrier to close the 12 month period at €1.18bn (2021: €839.23m). 

RNG came in at €268.42m for the year, an increase of 16.94 per cent YoY from €229.53m, however, the group noted that this still remains below expectations.

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Joined from Push Gaming, where she held the role of chief commercial officer, Longmuir will utilise over 15 years of industry experience, working for companies such as Sky Betting & Gaming, Betfair, Ladbrokes Coral and Gaming Realms, to aid AvatarUX in accelerating its product strategy.

“I truly love the dynamic and fast-paced nature of the igaming industry and AvatarUX is a perfect representation of what makes it so great,” explained Nicola Longmuir, CEO of AvatarUX.

“Its quality product offering and innovative PopWins mechanic coupled with a very talented team was something I wanted to be a part of, so I’m excited about this opportunity.

“I look forward to building on AvatarUX’s exceptional reputation and success and to continue to disrupt the industry further.”

The company is set to further strengthen its team in 2022 as it hopes to “substantially boost” its product portfolio as well as its distribution across numerous global markets.

Marcus Honney, managing director at AvatarUX, added: “We are thrilled to have Nicola join us at AvatarUX to drive our product growth and strategy to the next level, which we are more than ready for.

“Nicola has extensive knowledge of the gaming industry and has played a crucial part in the achievements of the companies she has worked for in the past and will be an extremely valuable addition to our senior team. We would like to wish her a very warm welcome to AvatarUX.”

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The new policy will be implemented for all customers across the Paddy Power, Betfair and Sky Betting & Gaming brands in the UK and in Ireland, as the operator looks to “further enhance protections for younger customers and encourage sensible spending across its platforms”.

The group says that those customers that can demonstrate an income to sustain an increased level on spend will have to undertake “a detailed process” before an alternative limit is set.

The move forms part of Flutter’s risk-based affordability triple step framework, a risk-based offering which uses real-time data to monitor player activity and behaviours in a bid to ensure that gambling remains safe and enjoyable for customers. 

Conor Grant, CEO of Flutter UK&I, said: “We are continuously looking at ways we can enhance protections for our customers, particularly those who are young or may be vulnerable.

“People under the age of 25 are likely to be experiencing a number of significant life changes, such as gaining independence for the first time and learning how to manage their finances.

“We want anyone who decides to gamble when they come of age to get in the habit of setting sensible spending limits and this measure is the latest we are introducing to help make this happen.” 

Polls conducted by the group have indicated that 77 per cent of regular gamblers approved the new measures aimed at the younger demographic, with positive feedback among the 18-24 year-old demographic reaching 78 per cent.

In addition to implementing a new deposit limit, Flutter has also leveraged Adtech to avoid targeting consumers under the age of 25 with ‘paid for’ social media marketing by using specific age marketers on data models. 

The group has also required gambling advertisements on search engines to provide clarity on the targeting of over 18s, whilst earlier this year it prohibited credit card payments for both retail and online transactions.

“We will be sharing our thinking and data with the government and hope this new measure helps in terms of providing further ideas, evidence and potential solutions as it continues its review of the gambling legislation,” Grant continued. 

“The review provides a once in a generation opportunity to bring gambling rules into the digital age, and while we believe that the changes it will bring are critical, we won’t wait to implement ground-breaking policies that will make a difference for our customers.”

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The new dedicated studio will be hosted at the Playtech Live studios in Riga. The initial launch will see Sky Vegas Live Casino showcase Playtech’s Live Roulette and Live All Bets Blackjack tables, both of which are fully scalable and allow an unlimited number of players to play together simultaneously. 

Furthermore, the Sky Vegas live casino entity will be the first of its kind to include an exclusive dedicated Spin A Win offering from Playtech Live.

“The launch of Sky Vegas’ live casino further strengthens the collaboration with our long-term technology partner, Playtech,” noted Sam Downey, gaming commercial director at Sky Betting and Gaming.

“We are thrilled to be extending our live casino offering across more of our brands with the innovative and entertainment-led products and services that Playtech offer.”

This becomes the latest in a string of global developments for the gambling tech firm, with Playtech also securing recent partnerships alongside Spearhead Studios, ComeOn, Kindred Group, Flutter Entertainment, Betsson Group, and Casino Lugano, with a US roll-out also continuing in Michigan.

Edo Haitin, CEO at Playtech Live, said of the group’s latest collaboration: “We are extremely proud that Sky Betting & Gaming have chosen Playtech as their exclusive live casino partner. Playtech Live’s focus on an experience-led offering, both from a gameplay and presentation perspective, is central to what makes us stand out in the industry.

“When you combine that with the Playtech Live studio production team, you are looking at the best studio experience in the business. The level of detail that has gone into the production of the new Sky Vegas studio is the highest level currently offered by the live industry today – we are thrilled to be working with the fantastic Sky Vegas team to create the most engaging responsible gambling entertainment experience for their players.”

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The Dice are Cast for KYC & Player Verification Compliance session, presented by identity verification, eKYC and AML specialist Jumio, will examine how betting and gaming operators can ensure that remote platers are actually who they claim to be.

With a number of key regulatory changes set to come into force in European markets in 2021, it has never been more important for online operators to have robust age verification and KYC procedures in place – not only to establish a player’s digital identity, but to deter online fraud, underage gambling, and money laundering.

For example, any sportsbook or casino open to customers in Germany will have to comply with new regulations designed to provide enhanced protection for minors. Starting in July 2021, operators will have to be able to demonstrate to regulators that they have taken the necessary steps to prevent underage users from accessing their platforms.

Operators also need to consider customer experience and ensure that when implementing the required compliance procedures, they do not make the onboarding process so long and complex that it deters customers. 

Research by Signicat shows 63 per cent of consumers in Europe have abandoned financial applications in the past year thanks to clunky, onerous onboarding processes. Abandonment rates in the gaming space are equally concerning and why gaming operators are continuously exploring ways to streamline the new account sign-up experience.

In this webinar, the expert panel will outline best practices on how to fulfil KYC due diligence and onboard players faster with the latest AI-powered identity verification and authentication technologies, with input from the perspectives of both operators and suppliers. 

Register for The Dice are Cast for KYC & Player Verification Compliance – Wednesday 31 March at 2pm GMT. 

The panelists include:

• Sam Wilks – senior business development manager EMEA, Jumio. 
• Andrew Sacre – head of product, Sky Betting & Gaming.
• Richard Bayliss – senior regulatory affairs and compliance manager, Playtech.
• Andrew McCarron – managing director, SBC (moderator).

Wilks said: “As regulators in multiple markets move to introduce more stringent requirements, reliable player and age verification systems have never been more important for betting and gaming operators.

“In this session, we’ll examine how operators can avoid the common pitfalls and meet all their KYC compliance requirements, and look at how implementing the latest technology can help to simplify the process.” 

Join this SBC Webinar to learn how to establish robust age verification and KYC procedures, without damaging user experience. 

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