The English Premier League, renowned for its global reach and lucrative broadcasting deals, has recently come under scrutiny for its increasing ties with gambling companies. The Guardian reported that the recent announcement by Bournemouth, which took the total number of Premier League clubs with a gambling company as their front-of-shirt sponsor to 11, has sparked a wave of criticism. This means that more than half of England’s top-flight teams will have a betting company on the front of their shirt, up from eight last season.

Chelsea remains the only Premier League club yet to announce a front-of-shirt sponsor. They began last season without one after supporters lobbied against a deal with an online casino. This shows a growing awareness and concern among fans about the potential harms associated with gambling.

The increase in gambling sponsorships comes despite an agreement by top-flight clubs last April to restrict betting sponsorships. However, with the ban not due to come into effect until the 2026-27 season, clubs continue to strike deals with gambling firms, including cryptocurrency casinos and Asian betting companies.

The Big Step, a campaign dedicated to removing the ubiquitous gambling advertising in football, has expressed concerns about loopholes and brands still being permitted on shirt sleeves and advertising hoardings. The campaign, led by people harmed by gambling, argues that Premier League clubs must recognize that gambling harms are a serious public health issue that destroys many lives in their communities and around the world.

The Big Step has pointed to the stricter regulations in Spain, Italy, Belgium, and the Netherlands, where clubs are prohibited from shirt-sponsorship deals with betting companies. The charity argues that the sport’s greed does not justify exposing millions of young fans to addictive and harmful products.

Despite the impending ban and growing criticism, several Premier League clubs have recently announced record-breaking sponsorship deals with gambling companies. Bournemouth announced a “record-breaking” two-year contract with the Asian company bj88, replacing Dafabet. The latest deal is understood to be worth almost double the previous one and almost double the sum offered by non-betting companies.

Southampton, promoted to the Premier League announced a partnership with Rollbit, a “crypto and NFT casino" Similarly, Crystal Palace and Wolves have confirmed betting partners as their shirt sponsor. Wolves and Palace announced “record” deals, the former with the Vietnamese company DeBet and the latter with the Asian operator Net88.

The handling of gambling sponsorships in sports leagues is a complex issue that varies depending on the sport, the country, and the specific league’s regulations and attitudes towards gambling. As the debate continues, it’s clear that striking a balance between the financial benefits of these sponsorships and the potential harms associated with gambling is a challenging task.

Gambling sponsorships are not unique to the Premier League; they are prevalent in various sports leagues worldwide. However, the approach to these sponsorships varies significantly across different sports and regions.

In the UK, the government is considering whether to ban gambling sponsorship in football as part of its review of the Gambling Act. The English Football League chairman, Rick Parry, has warned that such a ruling could cause some of its 72 clubs to go under. The EFL, which is sponsored by Sky Bet, could lose £40 million a year in revenue if a gambling sponsorship ban were implemented.

The Premier League is expected to vote on banning gambling companies from the front of shirts but allow other forms of advertising to remain. In the current 2022/23 season, more Premier League shirts are sponsored by gambling companies than any other business - eight out of 20.

The white paper on gambling regulation requires sports governing bodies to develop and adopt a gambling sponsorship code of conduct. This code will be common to all sports, but it will need to incorporate flexibility to accommodate the material differences between sports.

In other sports, such as American football, basketball, and baseball, gambling sponsorships are also common. However, these sports have different regulations and attitudes towards gambling. For example, the National Football League (NFL) in the United States only recently relaxed its rules on gambling advertisements and sponsorships.

While some clubs are cashing in on lucrative deals with gambling companies, others are taking a stand against the industry. Luton, relegated to the Championship last season, is among 35 clubs who back The Big Step. The club’s chief executive, Gary Sweet, has outlined their hardline stance against partnering with the industry. He estimated Luton’s decision to forgo gambling sponsors in the Premier League cost them about £3 million last season.

The Premier League has stated that it had become the first sports league in the UK to ban front-of-shirt sponsorship voluntarily and that it was “working with other sports on the development of a new code for responsible gambling sponsorship”. However, with the ban not due to come into effect until the 2026-27 season, the debate over the role of gambling sponsorships in football is likely to continue.

As the Premier League and its clubs navigate this controversial issue, they will need to balance the financial benefits of these lucrative deals with the potential harms associated with gambling. With increasing scrutiny from fans, campaigners, and potentially regulators, the Premier League’s relationship with gambling companies is set to remain a hot topic in the coming years.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.

SkyCity Entertainment Group has confirmed a leadership shakeup with the official appointments of Jason Walbridge as CEO and Peter Fredricson as the company's new CFO.

Walbridge, (photo above on left) announced as the replacement for former CEO Michael Ahearne in April, brings extensive industry experience to the table, including 18 years with slot machine giant Aristocrat Leisure. He assumed the CEO role on 15 July.

The leadership changes also include Julian Cook, who was previously the Board Chair at SkyCity, transitioning into a non-executive director role. Callum Mallet, who has been serving as interim CEO, will return to his position as Chief Operating Officer for SkyCity New Zealand. Brad Burnett, the interim COO, will now assume the role of General Manager of Gaming Auckland.

Peter Fredricson (photo above on right) is also set to join SkyCity on 5 August as the new CFO, subject to regulatory approval. He brings over 25 years of experience in finance and investment banking across Asia and Australasia. Fredricson will work alongside current CFO Julie Amey until her resignation in September to ensure a smooth handover.

Welcoming Fredricson, Jason Walbridge said that his initial focus will be on stabilising SkyCity's operations, including the recent suspension of dividend payments for the remainder of 2024 and 2025 due to economic and regulatory challenges.

This leadership change comes as SkyCity's Australian casino, SkyCity Adelaide, seeks to recover after a recent settlement with anti-money laundering regulators.

Following the shuffling of executives, SkyCity Entertainment Group has agreed to close the gambling area of its SkyCity Auckland casino for five consecutive days as part of a settlement with New Zealand authorities. This decision comes after the company admitted failures to identify a customer's continuous gambling activity.

The closure, which is expected to cost SkyCity around $3 million (approximately €2.7 million), will take place on weekdays with specific dates to be determined. The company anticipates a financial hit and is revising its annual earnings forecast.

This agreement avoids a potential 10-day suspension of the casino's licence. The suspension was prompted by a complaint from a former customer who gambled at the casino between 2017 and 2021. The Department of Internal Affairs claimed that SkyCity's technology for monitoring continuous play was not functioning properly, and the staff failed to address the issue.

SkyCity has acknowledged its shortcomings in technology and staff vigilance but claims that the customer's gambling behaviour wasn't readily apparent. The company is working on improving its risk management systems, including measures to combat financial crime and problem gambling. Additionally, all New Zealand casinos will implement mandatory card-based play by mid-2025.

Stay in the loop with the latest updates and news for the upcoming SiGMA East Europe Summit powered by Soft2Bet. The summit will take place in Budapest from 2-4 September. 

Relax Gaming, a leading iGaming aggregator and content supplier, has promoted Kirsten O’Neill to Chief Financial Officer (CFO).

O’Neill’s journey at Relax Gaming began in 2021 as Group Finance Manager. Prior to that, she honed her skills in the industry through key finance positions at NetEnt and Yggdrasil Gaming. This extensive experience serves as a strong foundation for her new leadership role.

O’Neill’s career trajectory is impressive. Before entering the iGaming world, she held positions of increasing responsibility across various industries, starting as an accounts clerk at Irish Nationwide Society. Her diversified background in finance management encompasses roles at Capita Life & Pensions, Great-West Lifeco Inc., Juniper Networks, and Hartley & Marks Publishers.

In 2014, O’Neill transitioned to the iGaming sector, joining Hibernia Networks as a Financial Reporting Manager. This move marked the beginning of a successful path within the industry. She then went to NetEnt as a Finance Manager, eventually assuming the Acting Group Finance Manager role.

Before joining Relax Gaming, O’Neill held the position of Group Finance Manager & Deputy CFO at Yggdrasil Gaming. This experience further solidified her knowledge and expertise in the iGaming finance landscape.

“I could not be prouder to take the next step in my career and become CFO at Relax Gaming. This is a special company that has played a huge role in my development over the last several years,” she shared.

O’Neill succeeds Markus Kruk, who served as CFO for nine years. Kruk will transition to the newly created role of Chief Corporate Development Officer, focusing on exploring new product verticals and strategic partnerships.

“We are delighted to announce Kirsten as Relax Gaming’s second-ever CFO. She has been a pivotal part of our team for some time and has a fantastic reputation as someone that can be trusted to help us towards our next major milestones as we enter our latest chapter. I am thrilled to see her take the next step of her journey as she genuinely deserves this opportunity,” said Martin Stålros, CEO of Relax Gaming.

O’Neill’s appointment shows Relax Gaming’s commitment to nurturing top talent and a culture of internal promotion. Her extensive experience and proven leadership skills position her perfectly to guide the company’s financial future.

In other exciting news this week, Relax Gaming has unleashed a new challenge for players with their latest release. The dragon-themed jackpot slot, Fang’s Inferno Dream Drop, invites players to tame a fiery beast with the potential to win up to 5,000 times their stake and one of five jackpots.

But that’s not all. The Dream Drop jackpots add an extra layer of thrill, as they can be won at any time. With its multitude of features, Relax Gaming anticipates this slot to be a roaring success among players.

There’s also a chance to win one of the Dream Drop jackpots.

Stay in the loop with the latest updates and news for the upcoming SiGMA East Europe Summit powered by Soft2Bet. The summit will take place in Budapest from 2-4 September. 

DraftKings has announced it signed an agreement to become the official sports betting and daily fantasy partner of the Women's National Basketball Association (WNBA). This partnership grants DraftKings rights to both league and collective team intellectual property, along with marketing, activation, and hospitality opportunities around major events, including the AT&T WNBA All-Star Game.  

"We are proud to support the league in its efforts to continue expanding the game," Matt Kalish, President of DraftKings North America, said in a statement.  

As part of the partnership, DraftKings will utilise official WNBA data feeds to enhance the player experience on its platforms. Additionally, DraftKings will become the presenting partner of the WNBA Postseason Push, a new content platform featuring league highlights, social media integrations, and odds updates focused on the latest standings in the final two weeks of the regular season.  

Kalish said the WNBA has seen tremendous growth, which continues to be a bright spot in the sports world, and that through the collaboration with the league this season, the company will be able to enhance the experience for millions of customers and fans.  

WNBA Chief Growth Officer Colie Edison emphasised the significance of the partnership in promoting women's sports. Edison said partnering with DraftKings enables the league to offer fans additional ways to engage with their favourite teams and players, responsibly and with integrity. She added that the league is looking forward to working alongside DraftKings to further enhance innovation and equity in women’s sports.   

DraftKings’ involvement with the WNBA highlights its commitment to supporting the growth of women’s sports. This partnership aims to provide fans with an improved and more interactive experience, reflecting the company's dedication to promoting equity and innovation in sports.  

DraftKings has been an official betting partner of the NBA since 2021. The company's collaboration with the WNBA marks a significant step in enhancing the fan experience for women’s basketball through advanced technology and engaging content.  Edison remarked that the WNBA is growing and expanding across the board, and the partnership will welcome more fans to the league.  

Upcoming SiGMA event: Click here to find out all about SiGMA East Europe powered by Soft2Bet happening in Budapest, September 2024.

After a brief pause, Jade SportsBet is back online. In a press release, Jade Entertainment and Gaming Technologies said the downtime allowed the company to enhance its product offerings, ensuring a better experience for its patrons. A notable change is the introduction of the lowest minimum bet of PHP10 (€0.16), making the platform more accessible to a wider audience.  

The development was first shared with SiGMA News by Joe Pisano, Founder and CEO of Jade Entertainment and Gaming Technologies. The pause in operations was enacted in May when the company notified its customers that Jade SportsBet was undergoing “system maintenance” and that player transactions were temporarily unavailable. The company is one of 22 Philippine Amusement and Gaming Corporation (PAGCOR)-listed companies licenced to operate sports betting in the Philippines.   

One of the significant updates during the pause was the increase in Jade SportsBet’s PAGCOR Security Bond, which rose from PHP15 million to PHP25 million (€235,752 to €392,920).  

"At Jade SportsBet, we prioritise responsible gaming and (the) satisfaction of our customers. The increase in our PAGCOR Security Bond is a testament to our dedication to providing a secure and reliable platform," Pisano said in a statement.   

During the downtime, Jade SportsBet said it also took the opportunity to discuss and plan its product offerings with BetConstruct, its platform provider. BetConstruct was recently awarded the Global Gaming Award for Best Sportsbook Platform at a ceremony in Manila.  

"We have used this downtime efficiently to discuss and plan our product offerings with our Platform Provider BetConstruct," Pisano stated.  

Jade SportsBet will also power Nustar’s SportsMaxx user interface, allowing Nustar to focus on marketing while Jade provides a best-in-class platform and enhanced trading services. This collaboration aims to offer a superior gaming experience to users.  

Jade SportsBet said it continues to uphold the highest standards of responsible gaming, ensuring a safe and enjoyable environment for all users. The company remains committed to compliance with all regulatory requirements and promoting responsible gaming practices. 

Upcoming SiGMA event: Click here to find out all about SiGMA East Europe powered by Soft2Bet happening in Budapest, September 2024.

Betsson’s Q2 2024 performance showcases the company’s robust market position and effective growth strategies. The company’s focus on organic growth, customer acquisition, and market expansion has resulted in a significant 15 percent increase in revenue.

Financially, Betsson has shown impressive results. The EBITDA for the quarter was €77.6 million, marking a 15 percent rise from the previous year. The EBITDA margin was 28.6%, slightly higher than last year’s 28.5 percent. This increase in EBITDA and the margin indicates healthy profitability for the company. Operating income (EBIT) also saw an impressive increase of 18 percent to €64.1 million. The EBIT margin improved to 23.6 percent from 23.0 percent, reflecting Betsson’s efficient operations and effective cost management.

The company’s customer base also saw a significant increase, with active customers rising by 25 percent to 1.4 million. This growth in the customer base is a testament to Betsson’s strong brand appeal and effective customer acquisition strategies. Total customer deposits in Q2 were 15.0 percent higher at €1.43 billion, setting a new record for the group.

Betsson has also expanded its footprint in locally regulated markets. The company secured its first local licenses in Peru for the Betsson and Betsafe brands. This expansion into new markets is expected to contribute to Betsson’s future growth.

Betsson’s CEO, Pontus Lindwall, (photo above), expressed optimism about the company’s future. He highlighted the continued high growth and strengthened profitability, with new records in both revenue and operating income. Lindwall attributed this growth to high customer activity during events such as the UEFA and Copa America in June.

Betsson also announced a partnership agreement with Serie A champions Inter Milan, which will feature the Betsson.sport brand on the team’s jerseys for the next four years. This partnership is expected to enhance Betsson’s brand visibility and attract more customers.

Overall Betsson’s Q2 2024 performance mirrors its robust market position and effective growth strategies. The company’s emphasis on organic growth, customer acquisition, and market expansion has resulted in a robust 15 percent increase in revenue. With its strategic initiatives and partnerships, Betsson is well-positioned for continued growth and success in the future. When compared to other industry players, Betsson’s performance stands out, indicating a promising future trajectory. The casino segment witnessed a 16 percent increase in revenue, while the sportsbook segment saw a 13 percent rise.

These figures underscore a robust performance in both segments, contributing to the overall revenue growth. The company’s strategy of geographical expansion has further bolstered its strong performance. This expansion into new markets is anticipated to fuel Betsson’s future growth.

Today, Betsson AB (BETS-B.ST) is trading at 124.80, which is a decrease of 3.98 or 3.09 percent from the previous trading session.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.

TAB, under the management of British gambling giant Entain for over a year, has faced significant criticism for its aggressive advertising campaign. The Problem Gambling Foundation, represented by spokesperson Andree Froude, (photo above), voiced concerns about the pervasive nature of these ads, particularly their impact on vulnerable individuals.

“The TAB adverts are just about everywhere; they’re really undertaking an aggressive marketing campaign on television, social media, and radio,” Froude stated. She highlighted that these ads, especially those aired during prime-time TV slots, could be “really triggering” for people with gambling problems.

Froude noted that the current campaign is much more aggressive than previous ones, with ads appearing frequently across various media. “The research does tell us that if people are exposed to advertising like this, it can increase participation in gambling, and harmful gambling,” she added.

The foundation questioned why gambling isn’t regulated similarly to alcohol in terms of advertising restrictions. TAB’s ads often depict gambling as a social activity, appealing to younger audiences with a light-hearted approach. While this might present gambling in a less problematic light, it also risks normalizing the activity, Froude warned.

Entain has responded to the feedback by adjusting its advertising schedule, ensuring compliance with regulations and aiming to minimize exposure to children and young people. “Our media agency only buys advertising spots for shows which have less than 15 percemt of under 18-year-old viewers,” an Entain spokesperson explained.

Despite these adjustments, Froude argued for stronger regulations to control gambling advertisements, comparing the situation to alcohol advertising restrictions. The Problem Gambling Foundation had previously expressed concerns about Entain’s management, but noted no major issues until the recent advertising campaign.

Entain’s spokesperson emphasized the company’s commitment to responsible gambling, highlighting new tools on the TAB betting platform to help users manage their betting habits. These tools include setting spending limits, controlling market visibility, and implementing account curfews.

The foundation plans to formally raise its concerns with Entain, advocating for more stringent advertising regulations to protect vulnerable individuals from the potential harms of gambling.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.

Entain has announced the appointment of Gavin Isaacs as its new Chief Executive Officer (CEO). He will officially step into the role on September 2, 2024.

Isaacs takes over from Stella David, who has served as the interim CEO since Jette Nygaard-Andersen’s departure late last year. David is slated to transition into the role of Chair of Entain at the end of September, succeeding Barry Gibson.

Gavin Isaacs has been working for over 25 years in the sports betting and gaming sectors. His most recent role was as Chair of Games Global, a position he has resigned from, effective immediately to assume his new responsibilities at Entain. Isaacs will remain on Games Global’s board as an independent non-executive director.

Isaacs’ career included roles as Chair of SBTech, board member at DraftKings, and CEO of Scientific Games, now known as Light and Wonder. His previous leadership roles also encompass serving as CEO of Shuffle Master, Chief Operating Officer at Bally Technologies, and President of Aristocrat Technologies. His contributions to the industry were recognised with his induction into the American Gaming Association’s Hall of Fame in 2022.

“The company’s iconic brands, exceptional talent, and ongoing execution of its refocused strategy will enable the business to return to a leadership position across all aspects,” Isaacs commented.

Outgoing interim CEO Stella David, who will soon transition to the Chair role, welcomed Isaacs’ appointment. David praised the progress made during her interim leadership and expressed confidence that Isaacs’ experience and vision will propel Entain towards its ambitious plans. “The positive progress we have already achieved means the business has strong building blocks in place for the future,” David stated.

Isaacs’ appointment comes at a time when Entain is navigating through a period of considerable transition and scrutiny. Nygaard-Andersen’s resignation in December 2023 followed a challenging period marked by a £936.5 million net loss and a deferred prosecution agreement with the UK’s Crown Prosecution Service (CPS) related to activities in Turkey. This agreement required Entain to make substantial financial penalties and contributions over several years.

Investor discontent has also been a significant factor, with concerns about the company’s acquisition strategy and revenue growth. Activist investors have pushed for strategic reviews and potential divestments, leading to a reassessment of Entain’s portfolio.

The latest financial update from Entain indicates a mixed performance, with revenue showing a slight decline but shares trading up by 5.53% as of July 22, 2024.

The Ritz-Carlton, Turks and Caicos has announced the appointment of Louella Brezovar-van Veen as its new general manager, bringing a wealth of experience and expertise to lead the luxury Caribbean hotel. With a distinguished career of over 30 years in the hospitality industry across various markets, Brezovar-van Veen will oversee the operations of the 147-room oceanfront resort with 69 residences situated directly on the pristine Grace Bay beach.

Over the past seven years, Brezovar-van Veen has excelled as the Hotel Manager at The Ritz-Carlton, Aruba, where she supervised successful renovations for the only luxury-branded hotel on the island. Under her leadership, the property achieved remarkable revenue, ADR growth, and outstanding employee engagement results, among other notable accomplishments.

Expressing her enthusiasm for the new role, Brezovar-van Veen stated, “I am honoured to assume leadership at The Ritz-Carlton, Turks & Caicos and lead a talented team, enhancing operational and commercial performance whilst creating a sublime experience for the most discerning traveller. I look forward to writing a new chapter and welcoming travellers from around the world while showcasing everything that makes the resort so very special, along with the exceptional service from our Ladies and Gentlemen.”

Renowned as a Caribbean jewel, Providenciales, Turks & Caicos is distinguished for its natural beauty and is a top destination for leisure travellers. Under Brezovar-van Veen’s established leadership, The Ritz-Carlton, Turks & Caicos will continue to stand out as the prime choice for luxury seekers, offering an exceptional experience against the stunning backdrop of this picturesque destination.

The Ritz-Carlton Casino is one of the highlights of the hotel resort that provides an inclusive environment catering to both seasoned players and novices.

Those seeking an elevated experience can consider enrolling in the exclusive VIP membership programme. Membership perks include a starting credit and additional benefits, such as complimentary services and entry into exclusive cash giveaways and raffles, with luxury cars among the coveted prizes. Becoming a VIP member is hassle-free, and first-time members are greeted with a generous $50 (€45.95) credit to kick-start their gaming ventures.

The casino also hosts live music performances regularly. Adding to the ambience, the adept wait staff ensures that complimentary drinks, including beer, wine, and mixed drinks, are readily available throughout the evening’s entertainment.

As daylight transitions to dusk, the Ritz-Carlton Casino exudes an ambience of vibrant nightlife. Operating hours for table games and slots are from 5 pm to 3 am Monday through Friday and from 4 pm to 3 am on weekends, making it the ideal destination to extend a leisurely day at the beach into an exhilarating night of amusement.

Stay in the loop with the latest updates and news for the upcoming SiGMA East Europe Summit powered by Soft2Bet. The summit will take place in Budapest from 2-4 September. 

Evolution’s Q2 2024 financial results paint a picture of a company that is not only surviving but thriving in the competitive iGaming industry. With strategic initiatives in place and a strong financial performance, Evolution is well-positioned to continue its growth trajectory in the coming quarters.

Evolution has reported an impressive operating revenue of €508.4, million marking a robust 15.3 percent increase year-over-year. This surge in revenue has propelled the supplier’s H1 revenue to the coveted €1 billion mark, a milestone that reflects the company’s strong financial performance that will pave the way for further growth and stability.

Evolution Malta Holding Limited, a subsidiary of Evolution AB, has entered into an agreement to acquire Galaxy Gaming, Inc. for approximately $85 million. This acquisition aligns with Evolution’s strategy to become the world’s top provider of casino games by enhancing its presence in the US market and strengthening its position as a leading licensor of proprietary table games to the online gaming industry.

Galaxy Gaming, known for its innovative casino table games and technology solutions, will continue to operate as a separate and independent business unit under Evolution. The transaction, which includes a premium of 124 percent to Galaxy Gaming’s closing share price, is expected to close in mid-2025, subject to customary closing conditions and regulatory approvals.

This strategic move is anticipated to benefit all stakeholders by combining Galaxy Gaming’s land-based business with Evolution’s global reach and online gaming leadership.

Evolution AB has adopted a Capital Allocation Framework, a strategic tool to boost Mergers and Acquisitions (M&A) as its long-term vision. The company will consider acquiring companies, technologies, IP rights, or other assets, provided they enhance long-term shareholder value and operations.

There is no fixed annual allocation for M&A, and capital will only be allocated when strong projects are presented. Excess cash, after investments, dividends, and M&A, will be distributed through share repurchases, with the Board seeking annual authorization to ensure own shares do not exceed 10 percent of all shares. The Board said it is committed to maximizing returns for shareholders through these strategic moves.

Evolution’s Q2 EBITDA also experienced a positive trend, with a 10.9 percent increase year-over-year to €345.8 million. This upward trajectory continued into the first half of the year, with the EBITDA figure rising by 13 percent to €691.5 million. The EBITDA margin for the first half of 2024 settled at a healthy 70.3 percent, reflecting the company’s efficient operations and strong profitability.

However, it wasn’t all smooth sailing. The company’s profit margins dipped to 52.9 percent in Q2 2024, a decrease from the 59.9 percent figure reported in Q2 2023. Despite this, the company managed to generate a profit of €269.1 million for the period, a relative increase of 1.9 percent year-over-year. The profits for H1 2024 also saw a 4.5 percent increase year-over-year, amounting to €538.3 million.

The second quarter of 2024 was a period of strategic moves for Evolution. The company introduced a new capital allocation framework and launched a share repurchase programme. In a bid to expand its presence in the US market, the acquisition of Galaxy Gaming is expected to be finalised by mid-2025.

These developments are part of Evolution’s strategy to build on its positive Q1 results, which indicated growth across all geographical regions. CEO Carlesund expressed satisfaction with the progress made in Q2 2024. He highlighted the company’s revenue growth of 15 percent and an EBITDA margin of 68 percent. He also noted that the revenue growth at constant currency is estimated to be 19 percent for the quarter.

Today, Evolution Gaming Group AB (EVOG), based in Stockholm, is trading at 1,057.00 SEK, experiencing a decrease of 9.50 SEK, which represents a drop of 0.89 percent.

SiGMA East Europe Summit powered by Soft2Bet, will take place in Budapest from 2-4 September 2024.