This completion means that all of the firm’s wholly owned brands are now run on the joint-group platform, an occasion which Gustaf Hagman, group CEO, says marks “a milestone in the company’s history”.

LeoVegas says that the technical migration of Royal Panda will result in a more focused and efficient operation that fully benefits from economies of scale in technology, products and organisation. 

It is added that having a single platform decreases the complexity of operating activities, and the group’s own technology organisation minimises redundant work that is required when operating and running several technical platforms. 

Another major advantage cited by LeoVegas in its multi-brand support is that Royal Panda will be able to retain its own profile, look and feel, even though the brand uses the same technical platform as the group’s other wholly owned brands. 

Furthermore, it is anticipated that that Royal Panda gaming experience will be “significantly improved” through a faster and better mobile solution, an expanded offering of casino games, an improved sports betting experience, and a larger number of payment options. 

“Being able to run all brands on one and the same platform is a milestone in the company’s history,” Hagman noted. “I want to strongly commend all of the teams that made this possible. 

“I am eager to see how we can now free up resources and speed up the pace of our other growth initiatives and how all of Royal Panda’s customers can now fully benefit from the best gaming experience there is.” 

LeoVegas’ Rhino igaming platform is developed for multi-brand operation and currently handles more than ten brands and is licensed in eight jurisdictions. Rhino handles more than 60 game integrations from casino providers, both directly and via aggregators, sportsbooks and more than 30 payment service providers, including support for Open Banking.

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During the first part of our CasinoBeats 100 Club we asked our members whether there should be an increased focus placed on the ways in which online casinos will retain the new cohort of players?

In the feedback, we were told that the industry had been ‘handed’ an opportunity due to current world events which has seen an increase in player activity.

In this second part, we delve into whether enough is done in relation to retention and if new and existing players are rewarded for their loyalty. 

We asked: Does the online sector currently do enough to retain and build loyalty with its new and existing customers? 

One of our members, Tim Parker, COO at superseven.com, exclaimed the sector does ‘nowhere near’ enough in relation to player retention, yet noted that it’s something which will change. 

With the wheels already in motion in the UK amid the country’s ongoing Gambling Act review, Parker to claimed that ‘no longer will casinos be able to rely on lazy operations and poor UX’.

“I think that you will start to see far more corporate social responsibility programs and announcements, in a way in which you are already seeing in the US mega operators and throughout the wider corporate markets,” claimed Parker. 

“You can already see this in some of the monopolies around Europe but this will become more commonplace alongside better RG programs where players feel safe, well served and not just a number in a massively profitable organisation that is happy to just greedily take money. 

“This is the perception that sadly exists with many of the current players and the industry needs to understand, accept and continue to work to change this viewpoint.”

Echoing the thoughts of Parker, Degree 53’s marketing manager, Jenny Winter, emphasised that the sector could ‘be doing much more’ for their long term customers, suggesting it offers better and more personalised promotions and loyalty schemes to increase retention. 

She commented: “Lots of non-gambling products now offer points systems or memberships where the more customers spend, the more points they earn, for example, Adidas. This would be a great place to start. Casumo, Sky Bet and Paddy Power already have loyalty clubs, so it can work really well for different verticals.

“I remember years ago, I received an email offer from eBay explaining that because I’d been a loyal customer with them for over a certain amount of years, they gave me £10 off my next purchase. There were minimal T&Cs, which gave me confidence that I could spend it any way I liked. Small gestures like these go such a long way. Although I wasn’t even thinking about buying anything, I used the offer on their site and I actually spent a little more, so eBay still made a profit from my purchase.”

Yet Winter also expressed the challenge gaming operators face in achieving greater loyalty programmes, ‘certainly if their website is built on a legacy platform, which results in getting all historic customer spending data becoming a lengthy and laborious task’. 

“Starting small, perhaps within the customer services area, could be a great opportunity for some small wins,” Winters continued. “A great example of excellent customer service is the refund policy on the Deliveroo app. They use an automated system for resolving customer queries if something goes wrong with their orders. They automatically credit the account within seconds. 

“The customer is more likely to keep spending with them because of this simple feature. Small gestures like these go a long way in customer retention so it is worth starting off implementing small but really useful features before adding all the bells and whistles.”

Staying on the notion of operators and the systems that they use, Melvin Ritsema, managing director at Royal Panda, stated that most operators have ‘quite sophisticated systems’ in place to engage with customers along with some kind of loyalty programme/promotions. 

Ritsema said: “There is always room for improvement, but at this stage there doesn’t seem to be anything revolutionary. Gamification is often overrated when you take it too far. It needs to be meaningful for a gambler.”

Helen Walton, Glück Games’ COO, was more adamant in expressing her thoughts on if the online sector does enough for player retention, asserting that ‘we know they don’t’.

Walton went on to acknowledge that, as an industry, ‘we know our own problems’, yet consistently reject taking action to address them. She emphasised: “Having got customers hooked on deals, the industry is obsessed with squeezing margins, lowering costs, maximising scale and treating product and experience like a commodity. 

“Food retail went through its own decade of agony twenty years ago when it built deal-hungry, promo-hunting customers – it has taken it years to wean customers off deals and carve out distinctive positionings. 

“Of course price and value matters to customers, and supermarkets are relentless in their drive on value – but it’s not a race to the bottom, instead it’s meant really understanding customers and ways to appeal to the head, heart and pocket at once. Lidl didn’t steal market share from Sainsburys with value baked beans or with buy one get one free deals, they did it through offering BlackForest ham that tasted almost as good as Parma ham, but was half the price. 

“Innovation on product, experience and pricing are all crucial to create something that customers actually want.”

Concluding our members responses, Mark Knighton, CEO at Obsidian Consultancy, noted that there are ‘definitely’ more creative options which the online sector could take advantage of yet it all depends on the market’s current regulatory frameworks, which he stressed are ‘definitely putting a strain on the ability to deliver a more creative marketing’.

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Since the pandemic took its hold around the globe, we, as an industry, have seen a seismic shift in slot players migrating from land-based slot machines to online due to retail closures, with sports bettors following suit as a result of the calendar disruption.

During this edition of the 100 Club, we asked our members whether there should be an increased focus placed on the ways in which online casinos will retain the new cohort of players?

We asked: Should online casinos be focusing more on ways it can retain the new cohort of players acquired from land-based and sports betting? If so how?

Jenny Winter, marketing manager at Degree 53, exclaimed that online casinos should ‘absolutely’ be focusing on capturing new customers and making ‘the effort to retain them’.

“This is a great opportunity to gain new players and convert them from retail or other online verticals. This can be done with a great user experience and an intuitive customer journey, as well as using promotions,” she noted.

“This needs to begin with customer onboarding. Although it’s easy to assume customers will know how to use an online casino, onboarding can add value, support those that aren’t familiar with the product, as well as highlighting key sections within it. 

“This needs to be incorporated into the customer journey to guide them to sign up and start playing. For land-based customers venturing online for the first, time this is essential to prevent drop-off.

“Once the customer has registered, they can be directed to games and key promotions. Navigation and CTAs need to play a role in how the customer finds relevant games and content. Clear, simple navigation and CTAs ensure customers are guided to the next step.

“After they’ve played, asking to play again, offering similar games or another category can also drive additional revenue and increase engagement. However, guiding customers to responsible gambling tools and reminding them about their time spent on site can also create a positive experience with the product. If customers can easily limit their activity and remain in control, they will likely return.”

Echoing Winter’s point, Tim Parker, COO at superseven.com, highlighted that the transition is not ‘going away anytime soon’ due to the land-based operators being ‘easy targets’ for early cuts as part of the pandemic response.

He continued: “There is a lot for land based players to admire about online, the game speed, the higher RTP on slots and a greater number of rewards. However land-based players will be far more used to a personalised service where everyone knows your name and what you eat/drink and online needs to cater better for understanding the players habits. 

“Furthermore, the whole concept of bonus money is alien to land based players, and whilst free money for a welcome bonus to onboard them and teach them what is going on might be welcomed, this tactic will not keep them longer term, so they will look for more real money bonus sing and they expect to be paid as soon as they go to the cash desk and not having withdrawals stalled for 24 hours or more. this will become the new norm in the next 12-18 months in my view.”

Helen Walton, COO at Glück Games, questioned what players can find in a land-based environment that isn’t replicated online.

“Is there something online can offer which matches the underlying customer need? If social experience and impulse was a big part of land-based, then online can’t replicate that exactly – but can it help players still feel connected, part of something, known and valued as individuals?” Walton commented.

Melvin Ritsema, commercial performance director at LeoVegas Group, believed that these new customers might see gambling much more as a social event.

He said: “Of course! These types of customers are perhaps not used to playing online. They might see gambling much more as a social event as well. As soon as lockdown restrictions are over, these are likely to go back to land-based or betting shops instead, unless they see online as a much better experience.”

Adding to Ritsma’s response, Mark Knighton, CEO at Obsidian Consultancy, concluded by claiming the industry has been ‘handed’ an opportunity due to the pandemic to increase their active player base.  

“To waste this opportunity would be crazy. Depending on current market regulatory frameworks, more unique personalised player communications, increased bonus/jackpot offerings and ensuring new niche and creative content is updated regularly.” explained Knighton. 

The first CasinoBeats Slots Festival of 2021 is set to bring together a select audience of international operators and affiliates to play the latest titles from leading games developers and emerging studios.

The day-long festival on 4 February will see the hottest new online slots showcased in a dedicated interactive environment that allows the industry’s key decision makers and influencers to put them through their paces in free-play mode.

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We begin, rather surprisingly, in January. A month of what if’s and numerous predictions (see below), as organisations across all industries gear themselves up for what will, hopefully, be a year of endless success.

Developments across the land-based and online casino ecosystem drew interest throughout the 31-day period, however, impending developments in the UK and the ever burgeoning US market seemed to be at the top of the agenda.

Feature of the month

Towards the end of January CasinoBeats travelled to London to gain key insights into one of the month’s most read stories, as Yggdrasil pledged to offer customers the “keys to its kingdom” via the launch of a new publishing division.

The briefing in the English capital city was fronted by CEO Fredrik Elmqvist and head of
publishing Björn Krantz, who spoke at length, and with great passion, about the potential offered by the venture.

Delivering tools to build, create and offer a complete B2B gaming business, the publishing arm, which developed at pace throughout the year, comes with three core value propositions of YG franchise (platform IP licensing) YG masters (game development and distribution program) and YG game IP (game IP licensing).

When Krantz concluded by proclaiming: “You’ll be able to get four or five stories out of this,” it could be hard to believe the lengthy discussion began over a light Pret a Manger lunch with talk of football, travel and Mexican luchadores.

In the news

January seems like (it was decades ago!) a much more simple time, before full-year strategies became decimated by the impending health crisis. In the gaming ecosystem it was the UK and US which were very much dominating the agenda, with developments on both side of the pond attracting the attention the many.

In the former it was a pair of withdrawals, albeit due to contrasting circumstances, which were among the best performers during the month. LeoVegas cited poor performance in its decision to pull its Royal Panda brand from the UK market, as Max Entertainment, whose flagship online casino brand Slotty Vegas is joined by GoSlotty, Vulkanbet and GGBet in its portfolio, outlined its intention to leave due to Brexit concerns.

Further activity in the region came the way of the Gambling Commission, as the regulator confirmed that a widely-anticipated ban on the use of credit cards across all gambling verticals would be implemented in April.

Elsewhere, a surge in US-focused content saw Vici Properties confirm its $843.3m Jack Entertainment purchase, which the firm acquiring 100 per cent of the membership interest of two subsidiaries of Jack Ohio, which owned the casino-entitled land and real estate and related assets of Jack Cleveland Casino, as well as the racing and video lottery-authorised land and real estate and related assets of Jack Thistledown Racino.

Further interest in the region came the way of Konami Gaming, which was selected by Virgin Voyages to provide its Synkros casino management system for its founding fleet of luxury cruise liners.

Virgin Voyages had announced plans to launch four ships, leading with the Scarlet Lady which was scheduled to set sail in April 2020, with Synkros to power gaming operations for its first three cruise ships. Due to 2020’s unexpected circumstances, the Scarlet Lady is now set for its maiden voyage in May 2021.

Recommended reading

We close the first month with a trio of predictions for the year ahead. Firstly Rachel Swann, commercial director at 3radical, identified the key digital marketing trends to look out for, with Simon Dorsen, director of gaming at Okto Group, pondering if 2020 is the year of the cashless revolution.

Video of the month

To continue the theme set forth above, at the SBC Awards 2019 we asked a number on industry stakeholders what challenges 2020 could bring.

The post UKGC, Yggdrasil, LeoVegas and Konami: <br> January in gaming appeared first on CasinoBeats.

Speaking as part of a ‘Future of Gaming’ panel at CasinoBeats Malta Digital debating the use of aggregators for igaming operators, Ritsema explained: “Let’s say as a rough estimate we have between 50 and 100 game suppliers live on Royal Panda right now. 

“Let’s be optimistic and say the integration of one game supplier is two weeks. Even on the lower end of 50 suppliers for an operator, that’s 100 weeks of development or two full years.

“And that’s just the development work, then we need the legal work, regulatory approval, upkeep of the APIs and upgrades. The amount of work that goes into offering all this type of content has become so much that it’s not doable with direct integration anymore.”

Rui Pena, COO & co founder at Darwin Interactive, bemoaned the obsession on quantity over quality or innovation of games. He suggested that the casino market feels “much the same” and that it leaves operators competing just on sign up bonuses, deposit bonuses or other kinds of loyalty programmes.

Ritsema replied: “I’m afraid overall it has become a bit of a numbers game. Yes, the casinos want quality content, but as a studio you can put all your eggs in one big basket – you are still not sure it will be a success until it goes to market.

“The landscape has changed a lot in terms of how many games are coming out. Nowadays if you release one game, and casinos have a lobby of 3,000, it’s going to be very hard to stand out. Before you can prove that your game will be the most popular, or the most successful, it is a big ask for the operator to bet on this.”

Kiril Nestorovski, commercial director at EveryMatrix, said that the importance of data is often overlooked as an advantage for the aggregation model, alongside the increased speed to market and distribution reach. 

He explained: “Aggregators have algorithms developed following closely what players are looking at, and we can tweak the casino lobby based on preferences. We sit on a lot of data. Being part of an aggregation network you get access to that data, which is also very segregated for countries in terms of player preferences.”

The panelists were later asked by session moderator Martin Prantner, CEO at Finnplay, about the value for an aggregator in having your own remote gaming server (RGS) and housing your own content alongside that of your partners.

Simon Hammon, chief product officer at Relax Gaming, replied: “A few years ago, a lot of content suppliers were very dependent on a middle layer platform, then there was a shift where having your own RGS brought a perception of larger independence. 

“And that’s true, you can do direct integrations with operators, you can do multi-aggregator integrations but as there’s a huge volume of content, and more price and ROI pressure, having your own platform and RGS these days can actually be a hindrance because there’s far more regulated market pressure and compliance maintenance.”

Hammon added that in-house content was a great complement to an aggregation service, especially for game margins, but admitted there is a fine line in terms of pushing your own content and maintaining high visibility for partners. 

He continued: “One of the main problems the industry has is there’s so much fragmentation. There are 200 or 300 suppliers that an operator may have, and fundamentally you can’t market each of them equally, they all have different tools, back offices etc. 

“There needs to be harmonisation where possible and aggregators are perfectly placed to provide that, at least for a good portion of the content suppliers. Value added tools that transcend the content suite can create harmonisation across the board.”

Ritsema jumped in to add that market availability is another key point for an aggregator’s service. He said: “Where games are allowed to play from a licensing point of view and grey markets point of view. Some aggregators have a lot of licensed jurisdictions they provide for, some have less, but others are quite restricted.”

A point acknowledged by Hammon, who concluded: “We’re in a regulated world. The more regulated markets an aggregator or sub studio is in is obviously of benefit to the operator.

“We try and walk the right line to make sure we are fully compliant in the markets which are key for our operators, but also offer the expanding opportunities that people are trying to tease open – for example in South America, Africa or Asia. How flexible you are in those types of territories offer a vehicle for operators to expand their reach.”

CasinoBeats Malta Digital, delivered in association with Gaming Malta, takes place from 30 June to 2 July 2020 and features 40 virtual exhibitors, numerous networking opportunities, 130 leading speakers, and countless business opportunities for 3,000 senior decision-makers from operators, suppliers, affiliates and other industry stakeholders.

Alongside the exhibition, networking and conference, all delegates also gain access to the full range of entertainment on offer, including free-play slots, daily competitions and a selection of prizes such as iPads and cash.

Find full details of the event, including information about how to register and the discounts available on company group passes, at the event’s official website: https://sbcevents.com/casinobeats-malta-digital/

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This six-reel video slot invites players to embark on a journey, ascend into the clouds and escape the giant’s castle with as much treasure as they can collect.

Kevin Reid, CCO at Iron Dog Studio parent company 1X2 Network, said: “Megaways Jack follows on from our first blockbuster Megaways slot, Pirate Kingdom Megaways.

“Megaways Jack takes players on a big-win adventure, allowing them to collect treasures and prizes via the game’s wide range of bonus features and massive max payout potential.

“This is combined with incredible design and authentic sound to create a striking slot that delivers a thrilling and hugely entertaining player experience.”

The fairytale adventure-themed title, which launched exclusively on Royal Panda last week, goes live on LeoVegas and Rocket-X brands this week and is set to be released  nationwide on June 17.

James Ford, head of casino at LeoVegas, added: “LeoVegas Mobile Gaming Group are delighted to be launching a second Megaways exclusive with our valued partners at Iron Dog Studio, and what better game to do it with than Megaways Jack!

“We believe our players will enjoy the inspired gameplay of this beautifully designed game, combining the tumble trigger on wins, magic beans on the reels, and the Lady Harp offering even more rewards.”

The low value symbols include the traditional 9-A royals whilst symbols with higher value consist of the cow, the golden goose, Jack’s mum, the giant and Jack as the premium symbol which pays 25x the stake for six of a kind.

At the left side of the reel is the lady harp which, in the base game, can randomly award either four extra wilds on tumbles, up to a five times multiplier, three extra positions on the beanstalk or the cloud or trigger a respin without losing the beanstalk position.

Magic beans that land per spin can be used to add positions on the beanstalk. The beanstalk lights up a lead with each cascade and eight or more positions trigger free spins.

Melvin Ritsema, managing director at Royal Panda, concluded: “Here at Royal Panda, we’re thrilled to have our second Megaways exclusive with Megaways Jack, from our dear partners over at Iron Dog Studio.

“Having worked together closely over the years, this exclusive is a great way to show the ever-strengthening partnership.

“Of course, the stunning gameplay following Jack in his quest to defeat the giant, will be a sure hit with our players!”

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As a result of the agreement Pragmatic Play’s live casino roster will be available with the operator, including titles such as Speed Roulette, Blackjack and Baccarat. 

The firm asserts that it “has continued to get impressive results” from its live casino product, following the signing of a multitude of operator agreements and addition of new titles.

Melvin Ritsema, managing director at Royal Panda, said of the partnership: “Pragmatic Play’s live casino products have a great reputation and we are eager to be able to offer them to our customers.

“With a wide range of casino staples and innovative new content, we look forward to growing with them in this vertical.”

Last month Pragmatic Play rolled out a further diversification of its live casino offering via its latest igaming entrant Auto-Roulette, adding to a multi-vertical offering that also boasts slots and bingo products.

Streamed from the firm’s studio located in Bucharest, Auto-Roulette strives to enhance the player experience by automatically releasing a ball into the spinning wheel during the betting time without the need for a dealer.

Lena Yasir, vice president at Pragmatic Play, added: “We are thrilled to have signed a commercial agreement with Royal Panda and we can’t wait to see how our products will perform with the operator.

“We have invested considerably into our live casino offering, so it is fulfilling to see positive feedback and be signing deals to grow in this vertical.”

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The agreement is to see the Spain and Malta based casino games developer launch its entire portfolio of igaming content with Royal Panda, launched in 2014 and acquired by the LeoVegas Group in 2017.

Melvin Ritsema, Royal Panda’s managing director, stated: “We are very happy to get all of Red Rake’s content live on Royal Panda’s casino. Their games, such as the recently released Solomon: The King are unique and really stand out from the other slots in our casino.”

Red Rake Gaming emphasises that it’s key focus remains “delivering engaging and innovative content to its partners,” as the company promises to deliver a feature packed roadmap throughout the year.

The partnership will see Royal Panda gain access to all the “top performing” games delivered by Red Rake Gaming to its players, including titles such as Super12Stars, a slot that comes with multiple feature and bonus rounds, Tiger and Dragon, giving players one million ways to win, and the cluster slot Gustav Minebuster, offering players the chance to win 20,000x.        

Nick Barr, managing director for Red Rake Malta, commented on this partnership:  “We are thrilled to be partnering with Royal Panda and releasing our top performing content to their players. We continue to grow our market reach across the globe at an incredible rate and could not be happier to have another well-renowned brand onboard, I look forward to what promises to be a fruitful partnership.”

Last week Red Rake commented on the latest stage of its strategic European expansion strategy after asserting that focus in the short-term is firmly fixed upon the Belarusian market.

The country introduced regulations in 2019 with operators required to obtain the relevant licenses ahead of a potential closure for non-regulated operators scheduled to take effect from April 1, 2021, two years after it first introduced the licensing framework.

The post Red Rake lauds deal with ‘major player’ Royal Panda appeared first on CasinoBeats.

Through cancelling its contract for new, larger premises in Malta in 2021 and instead electing to stay in its existing facilities during the coming five-year period, the group anticipates annual cost savings of €1.7m.

Furthermore, brands supplied by LeoVegas-owned Rocket X are to be maneuvered to the group’s own multi brand platform Rhino, where all technology is owned and run by LeoVegas.

Expected to generate cost synergies in areas such as marketing, products, payments and customer service, as well as resulting in reduced complexity in compliance, annual savings in the UK is expected to be in the region of €2m.

This follows LeoVegas detailing the exit of Royal Panda from the UK market earlier this year, with Q4 UK sales in the region of €1.1m and with negative profitability, with no expectation of a significant upturn during the first quarter of 2020. 

Revenue for the remaining operations in the UK, consisting of 13 brands including LeoVegas, 21.co.uk and BetUK, grew 15 per cent during the fourth quarter over Q3 and is said to have shown good profitability. 

“The strategic initiatives we are now carrying out will create optimal conditions to be successful in the large, but at the same time complex, UK market,” explained Gustaf Hagman, LeoVegas CEO.

“The consolidation of brands into one and the same platform will contribute to large economies of scale in the group – both by allowing us to fully utilise our multibrand technology and through a more efficient organisation. 

“Already during the second half of last year, the LeoVegas and Rocket X managed brands in the UK began to perform favourably, and the new structure gives us a good starting point to increase both growth and profitability in the UK market during 2020. 

“At the same time, Royal Panda – which has struggled with weak performance in the UK but has performed well in other markets – can now focus fully on growth outside of the UK and also launch the brand in a couple of new markets in and outside of Europe.” 

In total LeoVegas anticipated annual cost savings of €3.7m as a result of the various initiatives being undertaken, including €1.7m as a result of the contract cancellation for larger premises in Malta.

However a €6.1m sum due to restructuring costs will be applied to Q4 operating profit, with a one-off impairment cost in the region of €10m to be felt due to the Royal Panda UK withdrawal.

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3

The advertisement of random number generator games is set to be heavily restricted as confirmed in the draft gambling regulations submitted by the Greek Ministry of Finance to the European Commission.

The draft legislation comes as the Ministry of Finance seeks to implement further controls on the gambling industry.

As confirmed in the legislation, Random number generator games will be subject to a maximum stake of €2, with the maximum profit per gaming session set to be limited to €5,000.

Jackpot games are also set to face further restrictions, with pay outs set to be limited to a maximum of €500,000.

The draft legislation also outlines limitations that will be placed on the advertisement of random number generator games, whereby the games can only be promoted on the sites where they can be played.

200,000

Nektan CEO Gary Shaw has remarked that the £200,000 sale of the firm’s UK B2C business to Grace Media “is very reassuring to all stakeholders involved,” as previously announced “significant restructuring” continues.

The sale to Grace Media, which forms part of the Active Win Group, follows the appointment Mark Phillips and Julie Swan of PCR London LLP as joint administrators of group subsidiary Nektan (Gibraltar) Limited, which subsequently led to the sale.

Nektan states for the year ended June 30, 2018, the UK B2C business generated turnover of £19.4m and was loss making, with the sum payable as an initial £50,000 and the remaining balance payable subject to the UK B2C business meeting a series of agreed KPIs. The sale proceeds will be used by the administrators in the course of running the administration of NGL.

Nektan also says that the sale will have no impact on the ongoing business of the company, with a B2B partnership entered alongside Active Win to facilitate continued, uninterrupted delivery of services to the UK B2C business.

60

Online gambling operator LeoVegas is pulling its Royal Panda brand out of the UK market, with poor performance meaning that the entity no longer operating across the region from Friday 31 January, 2020.

Acquired by the group in October 2017 for €60m, with the company adding a further €60m in earn-out incentives, an enlarged strategic UK footprint was initially lauded.

“This gives us two great brands with global appeal, which makes the scalability in the continued growth strong while strengthening our position in the UK,” Gustaf Hagman, CEO and co-founder of LeoVegas, commented at the time.

The decision to withdraw the brand from the market follows a financial update issued by the group related to 2019’s third quarter, when Hagman said: “The UK is profitable at group level but remains challenging, where Royal Panda in particular had poorer performance during the quarter”.

2020

888 Holdings has entered 2020 “with good momentum across several regulated European markets,” as the group stressed confidence in achieving its EBITDA targets for 2019.

Boosted by continued progress during the second half of the year, particularly in December where revenue reached “an all-time monthly record,” the post close trading update, which did not contain specific figures, pertained to the year ending December 31, 2019.

888 comments that its performance in the past year has been underpinned by the continued success of the Orbit casino platform across a number of regulated markets, as well as further good revenue growth in sport.

Despite acknowledging the continuing challenge across the poker market, the firm did stress that it’s pleased by progress made in the first-phase roll-out of the new Poker 8 platform during H2 2019.

Furthermore, a number of new products as well as the rolling out the final-phase platform across the group’s poker markets is to follow during 2020.

Switching focus to specific jurisdictions, 888 reported a continued revenue increase in the UK, with Italy also said to be performing well during the year’s second half, driven by growth in casino.

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