Finance

Inspired Reports First Quarter 2020 Results

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"The year got off to a strong start, building on the momentum from outstanding organic growth, increased profitability across our businesses and better-than-expected initial results from our transformative acquisition which we realized in the fourth quarter of 2019," said Lorne Weil, Executive Chairman of Inspired. "However, the COVID-19 global pandemic resulted in the temporary closure of the land-based retail businesses of our customers with continuation of many of the associated expenses, which had a material negative impact on our first quarter results."

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International Game Technology PLC Reports First Quarter 2020 Results

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"After a solid start in the first two months of the year, we quickly shifted our focus to the global COVID-19 health crisis in March," said Marco Sala, CEO of IGT. "The safety and well-being of our people, customers, and communities have been our highest priority since day one. We implemented robust business continuity plans and maintain service levels at our normal, high standards. I am grateful for the passion and perseverance the entire IGT team has demonstrated during these unprecedented times and I am confident IGT is well positioned to emerge from the crisis a stronger, even more competitive organization."

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William Hill, the UK-based gambling giant, looks to German football, table tennis and phased opening

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According to a trading update by the company, the decline in online sports betting had been "less than anticipated," as customers had flocked to alternatives when their favorite sports events had been scrapped, such as table tennis, emerging market football, and gaming. William Hill said it had also seen a 5% growth online in the US, where it offers sports betting in four states. The company said it had “accelerated” product development in the US, and planned to launch its online casino later this year.  "We remain focused on player safety, employing ever more customer protection. We are taking care of our teams, securing as many employment opportunities as possible and we are ready to power up the business as soon as Covid-19 restrictions permit," said chief executive Ulrik Bengtsson.

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Scientific Games Reports First Quarter 2020 Results

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Barry Cottle, President and Chief Executive Officer of Scientific Games, said, "We are working around the clock to take care of our employees, customers, shareholders and other key stakeholders in these difficult times, while providing uninterrupted products and services to those customers who continue to operate. I am confident that the measures we are implementing now will allow us to take advantage of opportunities to strengthen our business and prepare us to come out of the crisis even stronger than before. We have a diverse portfolio of assets, products and services, and our previous investments in digital gaming technologies uniquely position us to navigate and ultimately excel, as we emerge from this challenging environment."

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INTRALOT announces Full Year 2019 Financial Results

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INTRALOT Group Chairman Sokratis P. Kokkalis noted:

“2019 has been a transition year for INTRALOT. I have set the cornerstones of the transformation of the Group by implementing a restructuring of our project portfolio through divestments of non-core assets; renewing existing contracts and winning new business with a focus in North America; launching our new products; and optimizing our cost structure. With the appointment of Mr. Christos Dimitriadis as Group CEO in 2020, INTRALOT is enabled towards technology-driven evolution, leveraging his long experience and global expertise to achieve growth and value creation.”

INTRALOT Group CEO Christos K. Dimitriadis noted:

“In 2019 we have completed the sale of our shares in Gamenet Spa, in Italy, Totolotek in Poland and Hellenic Lotteries in Greece, strengthening the company’s liquidity and improving its capability for strategic investments. We are particularly satisfied with the successful launch of our brand-new product LOTOS X, at OPAP, as well as at the National Dutch Lottery (NLO) with the Eurojackpot game. We are also proud for the launch of our landmark gaming system and services project with CAMELOT in Illinois, as well as for capturing sports betting opportunities with US State Lotteries in the District of Columbia, Montana and New Hampshire. The signing of a new Lottery contract with the British Columbia Lottery Corporation in Canada is a great achievement proving the execution of our growth strategy in North America. We have also successfully implemented a cost saving program at HQ resulting in €11m of savings that have partly offset adverse developments related to the loss of the Turkish land based sports betting contract, the negative impact of the regulatory changes in online betting in Turkey and one-time cost overruns.
Looking into the future and as we go through the 4th industrial revolution, we are prepared to capitalize on our recent investments in building state-of-the-art products and in achieving economies of scale. The transformative power of our technology will play a key role in business innovation and value creation, together with an even more customer-centric new organizational structure.”