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NetEnt: Interim report January – June 2018

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Today, July 13, 2018, at 9.00 a.m. the interim report will be presented by CEO Therese Hillman live via a combined telephone conference and webcast. The presentation can be followed in real-time on NetEnt’s website, the link to the webcast is: https://tv.streamfabriken.com/netent-q2-2018

The dial-in number for the telephone conference is:

Sweden: +46 8 506 39549

UK: +44 20 30089802

Quote from Therese Hillman, Group CEO:

”During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. I look forward to a busy autumn, focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus.”

Second quarter 2018:

  • Revenues for the second quarter amounted to SEK 437 (413) million
  • EBITDA amounted to SEK 202 (187) million, a margin of 46.3 (45.2)%
  • Operating profit (EBIT) amounted to SEK 149 (147) million, a margin of 34.0
  • (35.6)%
  • Profit after tax of SEK 139 (136) million
  • Earnings per share of SEK 0.58 (0.57) before and after dilution
  • 8 (6) new customer agreements signed, and 7 (8) new customers’ casinos
  • launched

First half-year 2018:

  • Revenues for the first half-year amounted to SEK 867 (806) million
  • EBITDA amounted to SEK 384 (350) million, a margin of 44.3 (43.5)%
  • Operating profit (EBIT) amounted to SEK 283 (274) million, a margin of 32.6 (34.0)%
  • Profit after tax of SEK 285 (251) million
  • Earnings per share of SEK 1.19 (1.04) before and after dilution
  • 14 (21) new customer agreements signed, and 15 (14) new customers’ casinos launched

Important events in the second quarter:

  • The AGM elected Fredrik Erbing as new Chairman of the Board of Directors
  • The Board appointed Therese Hillman as new CEO
  • Five new slot games released, including Archangels Salvation, Lost Relics and Jumanji
  • Beta-launched slot games for Social Casino
  • Signed customer agreement with Hard Rock in New Jersey

Comments by Therese Hillman, Group CEO:

Revenues for NetEnt increased by 5.9 percent (-0.8 percent in euro) to SEK 437 million in the second quarter of 2018. The operating profit (EBIT) increased by 1.2 percent to SEK 149 million, representing a margin of 34.0 (35.6) percent. Cash flow after investments increased by 35.8 percent to SEK 178 (131) million in the quarter.

We continue to see that our core markets in the Nordics and the UK are maturing, and competition has increased. During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. At the same time, we continue to review our cost structure to improve scalability across the business, and we have started to see a lower pace of cost growth. We continue to target higher revenue growth than cost growth.

At the beginning of June, the Swedish parliament approved the new gambling law, and our preparations ahead of the Swedish market re-regulation has intensified since then. We aim to have a broad selection of our games certified when the new licensing system starts on January 1, 2019 and work closely with our customers on all fronts to ensure a successful market entry right from the start.

We released five new slot games in the quarter: Archangels Salvation, Lost Relics, Jumanji, Witchcraft Academy and Bollywood Story. The latter two titles had previously been customer-exclusive and were released to the rest of our customers in June. The innovative game Jumanji combines slots and board game features and has been well received by players. So far, three weeks since its launch, it is our best game release this year.

I also follow the development of our upcoming new games with great interest. Among other things, we will present a new game concept with the launch of BerryBurst in August, which is based on player feedback and insights. A new initiative is the beta-launch of our games in the form of Social Casino games on Facebook, which in the longer-term perspective could add new revenues and strengthen our game brands with players on many different markets. Through this initiative, we capitalize on our existing digital assets.

With regards to Live Casino, the new product called Live Beyond Live was launched on desktop for Mr Green at the end of May, and since that we have noticed a steady increase in number of players, bets and gamewin. Just in time for the FIFA World Cup, we introduced a new type of functionality for Live Casino, called Sports Betting Widget, which allows players to place bets on sports without leaving the roulette table. As a first step, the feature has been rolled out to a handful of customers. We see good demand for our bespoke, virtual multi-table solutions – Live Beyond Live being the first such product – and expect to launch new customer-exclusive tables for several customers this year.

Regionally, we saw similar developments as in the first quarter. Growth in locally regulated markets continued at a high pace, especially in Southern and Eastern Europe, while overall revenue growth was negatively impacted by a weaker development in the Nordics and in the UK. The share of revenues from locally regulated markets was 36 (32) percent in the quarter. In the US, we now see some positive signs after the Supreme Court decision in May that paves the way for sports betting to be legalized in New Jersey and other US states. Thanks to our presence in New Jersey, we are in a good position to enter other US states if and when they open for online casino.

Mobile games continued to contribute to our growth and accounted for 58 (56) percent of total gamewin in the quarter. Our ambition is to offer the best mobile games for the online casino market, and therefore we were really pleased to win the award in the category called Innovation in Mobile at the EGR B2B Awards in June.

I look forward to a busy autumn focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus. Presentation of interim report.”

 

For additional information please contact:

Therese Hillman

Group CEO

Phone: +46 8 5785 4500

therese.hillman@netent.com

This information is information that NetEnt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:30 CET on July 13, 2018.

 

About NetEnt

NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on Nasdaq Stockholm (NET–B) and employs more than 1,000 people in Malta, Stockholm, Gothenburg, Gibraltar, Kiev, Krakow and New Jersey. For more information, please visit

www.netent.com.

Source: Press Release submitted to European Gaming Media

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International Game Technology PLC to Host Second Quarter 2018 Results Conference Call on Tuesday, July 31, 2018

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International Game Technology PLC to Host Second Quarter 2018 Results Conference Call on Tuesday, July 31, 2018Reading Time: 2 minutes

LONDON, July, 2018 — International Game Technology PLC (“IGT”) (NYSE:IGT) will host a conference call and live webcast to discuss second quarter 2018 results for the period ended June 30, 2018 on Tuesday, July 31, 2018.

Conference call:
Tuesday, July 31, 2018
8:00 a.m. EDT

US/Canada Toll-Free Dial-In Number: +1 844 842 7999
Dial-In Number (Outside US/Canada): +1 612 979 9887
Conference ID (passcode): 3642779

Webcast:
A live webcast may be accessed along with accompanying slides under “News, Events & Presentations” in the Investor Relations section of IGT’s website at www.IGT.com. A replay of the webcast will be available on the website following the live event.

Telephone replay:
A telephone replay of the call will be available for one week:

US/Canada Toll-Free Dial-In Number: +1 855 859 2056
Dial-In Number (Outside US/Canada): +1 404 537 3406
Conference ID (passcode): 3642779

 

About IGT:
IGT (NYSE:IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has over 12,000 employees. For more information, please visit www.IGT.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall,” “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2017 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in its entirety by this cautionary statement.

Source: Press Release submitted to European Gaming Media

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Big Fish Games migrates to new HQ, with plans to reel in top talent with eye-catching space

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Big Fish Games migrates to new HQ, with plans to reel in top talent with eye-catching spaceReading Time: 3 minutes

Big Fish Games has a new headquarters to go along with its new leader.

The Seattle-based gaming company, which was acquired by Australia’s Aristocrat Technologies for $990 million earlier this year, moved into its new office in Seattle’s Pioneer Square this week. In the appropriately named Maritime building, Big Fish has leased all the office space — 187,000 square feet in total — with more than enough room to house its 633 Seattle employees plus the more than 100 open positions the company is advertising online.

The move is another sign of a new era for Big Fish. In 2014 it was acquired by Churchill Downs Inc., operator of the famous Kentucky Derby racetrack, for $885 million and sold again to Aristocrat earlier this year.

Just this month the company announced former Electronic Arts and Zynga executive Jeff Karp is joining Big Fish Games as managing director and president. He is taking the helm permanently after former CEO Paul Thelen left following the Aristocrat acquisition.

Aimee Paganini, lead senior game producer for Big Fish, has worked through all these changes. In her six years at the company she’s worked on several of Big Fish’s flagship games like Fairway Solitaire and Panda Pandamonium, and right now her latest game, Let’s Dish, is in Google’s open beta program. Paganini, who leads a team of 27 people, said not much has changed with her day-to-day operations despite the company shuffling between two parent companies in four years.

“I’m really fortunate that I have a boss and a general manager that allows our team to run as a small business,” Paganini said. “They’re the investors, so we need to make them happy.”

But the new headquarters will bring major changes for Paganini and everyone else at Big Fish. Employees felt like fishes out of water in the old HQ space at 333 Elliott West, which Big Fish steadily grew into over the years.

The company started looking for space two years ago, and at the time it surveyed employees to see what they wanted. The main gripe was lack of transit connections. The old office, which is just a few blocks down from where Expedia is setting up its Seattle HQ for a move next year, only has access to a couple of bus lines. Pioneer Square is the transit hub of the region, with hundreds of buses and a light rail line just a few blocks away, and plenty of access to restaurants and other attractions.

“We were out on a deserted island or at least peninsula on Elliott Avenue, so coming here it really opened up the ability for people to go out and experience the neighborhood,” said Evan Cottingham, director of real estate and facilities for Big Fish.

The old office was never a perfect fit for Big Fish, as the company gradually took on more and more space in the building from Classmates.com. Gaming companies have different needs than traditional office users — testing areas, big desks to spread out multiple devices and monitors, lots of collaboration spaces for meetings — and none of that really existed in Big Fish’s old space.

For Big Fish, the new digs will help with recruiting in the competitive gaming hub of Seattle that includes tech giants like Amazon and Microsoft and others prominent gaming powerhouses such as Valve and Bungie. Before, Cottingham said its interview rooms were “windowless dungeons,” and now they look out over the Puget Sound and Olympic Mountains.

Nearby spaces for human testers will have multiple cameras that track eye and hand movement of users when playing.

“Everyone assumes that a game company, a tech company, is a playground, but there’s a lot of work,” Cottingham said. “I can’t fathom how much Aimee and her team does to produce a game, so I need to design for all those ideas.”

Big Fish leased the building close to two years ago in a deal brokered by Seattle real estate company Clark Fadden and has been waiting for its new HQ since. During that time, the Maritime Building has undergone a complex and unique renovation. Crews dropped three additional stories on top of the 108-year-old structure to add to the office space.

 

Source

Source: Press Release submitted to European Gaming Media

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Aruze Gaming America Enters Licensing Agreement with Walker Digital Table Systems, LLC.

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Aruze Gaming America Enters Licensing Agreement with Walker Digital Table Systems, LLC.Reading Time: 2 minutes

Aruze Gaming America, Inc. (“Aruze”) obtaines a license from Walker Digital Table Systems, LLC (“WDTS”) to the world’s most powerful RFID chip technology, PJM3.0™.

 

“As we expand our business, we’re partnering with the best companies in these new areas. We are excited about the potential that these relationships unlock,” said Eric Persson, Aruze Gaming’s Global Chief Operating Officer and President of Aruze Gaming America.

“We are very pleased that Aruze has chosen PJM3.0™ for their RFID chip solution,” said Neil Crossan, Chief Commercial Officer for WDTS. “As a leading casino supplier, they have adopted the global standard, opening up a world of possibilities for their customers. PJM3.0™ is the RFID protocol that supports table gaming applications in the world’s largest casinos, delivering unmatched game protection, data and performance.”

As Aruze continues to expand their product offerings, they will be delivering their casino chips and RFID casino chips to the casino industry before the end of 2018, with the first install slated to happen in October 2018.

Persson adds, “We intend to be a major market disruptor, with the best technologies and prices that are often half that our competitors are charging. Walker Digital’s PJM3.0™ technology coupled with our chips allows us to provide a turnkey product to our customers.”

For more information regarding Aruze’s RFID casino chips or Aruze’s Electronic Table Games products, please contact Brandon Knowles at Brandon.Knowles@Aruze-Gaming.com.

 

About Aruze Gaming:
Aruze Gaming designs, develops, and manufactures slot machines and gaming devices for the global casino market. With affiliates in America, Hong Kong, Australia, South Africa, Macau, Philippines, and Japan, Aruze Gaming produces innovative gaming products, including high-resolution video and stepper slot machines, communal gaming products, and multi-terminal devices.
For more news and information about Aruze, please visit http://www.aruzegaming.com.

About Walker Digital Table Systems:
WDTS provides automation for live-dealt casino games including the RFID-enabled Perfect Pay™ table system that sets the standard for game security, accuracy and efficiency while delivering the player’s preferred live gaming experience. WDTS solutions are powered by patented PJM3.0™ technology, the fastest RFID for gaming. WDTS is headquartered in Las Vegas with sales support in Macau, SAR.
For more information about WDTS, please visit http://www.wdtablesystems.com or email contact@wdtablesystems.com.

Safe Harbor Statement
This press release contains “forward-looking statements” based on current expectations that are inherently subject to known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expressed or implied. Our plans and objectives are based on various assumptions, all of which are difficult or impossible to predict accurately and many of which are beyond our control and are subject to change. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate.

Source: Press Release submitted to European Gaming Media

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