Tag: Industry News

International Game Technology PLC announced that its wholly owned subsidiary IGT Lottery S.p.A. has completed the sale of its Italian proximity payment business to PostePay S.p.A. – Patrimonio Destinato IMEL for €700 million.

The negotiated sale price represented an enterprise value of €630 million and approximately €70 million of net unrestricted cash. The business held approximately €140 million in unrestricted cash at the closing. The increase in unrestricted cash is primarily attributable to timing of vendor payments and operating cash flows generated since December 31, 2021. IGT will use the proceeds from the transaction primarily to pay transaction expenses and reduce debt.

UBS AG acted as lead financial advisor and fairness opinion provider to IGT, UniCredit S.p.A. acted as financial advisor to IGT. Advant-Nctm acted as legal advisor to IGT and KPMG acted as financial due diligence and tax advisor to IGT.

After a scorching summer recess, the iGaming industry’s collective batteries have been recharged in readiness for a return to a series of autumn events.

In what is now a truly global calendar, SBC Summit North America at New Jersey’s Meadowlands Exposition Center set a new attendance record as delegates flocked to a show that – as was the case with iGaming NEXT New York before it – focused on a North American market which continues to boom.

We have now entered an era in which marketing purse strings are being closely examined, both from an operator and supplier perspective. Getting ‘bang for the buck’, to use that US expression, is vital when it comes to assigning budgets to the remaining events of 2022. Bigger is not always necessarily better when it comes to gaining new sales leads and, increasingly, it pays to be smart when planning out an attendance strategy.

In this feature, European Gaming highlights the six events, both on a large and small scale, that top-level executives need to be pushing their sales and executive teams towards as 2022 draws to a conclusion:

iGaming NEXT Valetta ’22 (September 27-29)

Following on from the success of the organisers’ inaugural US event in New York City in May, iGaming NEXT is back to present the latest edition of its popular show in the Maltese capital. As was the case in New York, this is a VP-style show that has a unique vision, promising to cut through the noise with unique networking and learning opportunities provided by the highest level of content. Naturally, there is no shortage of topics to be discussed by the expert line-up of speakers. Everything from the growing popularity of Web3, NFTs, blockchain and the metaverse, to new markets launching in North America and across the world, will be examined. In a world of massive waves of M&A and investment, this is an event that will pose the question of what the industry can do now to secure its place in the future.

SBC Summit Barcelona (September 20-22)

The first major event to follow the summer break takes place against the beautiful background of Barcelona, an appropriately grand city to host a gathering of global leaders in sports betting and iGaming. This year, the show will be split into five distinct zones: Sports Betting, Casino & iGaming, Payments & Compliance, Affiliate Marketing and Media and Emerging Tech, and Blockchain and Metaverse. Each area will have its own conference stage, exhibition floor and networking area, providing up to 6,000 delegates with the chance to connect with fellow professionals, take a deep dive into the insights and ideas shaping the future of each sector, and to view the most exciting new specialist products.

Global Gaming Expo (G2E) (October 10-13)

With the vast potential for sports betting and iGaming in North America being such a hot topic, more attention than ever before will be focused on the second successive in-person Global Gaming Expo on behalf of the online gaming industry. Held at The Venetian Convention and Expo Center in Las Vegas, G2E is billed as the world’s premier international gaming trade show and takes place on a vast scale as business leaders convene to shape the future direction of the industry. Key to the event is an education programme that reflects the evolving landscape – essential given the complex, patchwork regulation that exists in North America – while topics covered within the schedule include innovations across online gaming, land-based casino floor, digital payments, crypto and Web3.

SiGMA Europe, Malta (November 14-18)

With a strong focus on the promotion of start-ups, the SiGMA Group once again welcomes industry leaders from all over the world to Europe’s premier iGaming hub. Over 100 free booths are on offer across the expo floor, with SiGMA Pitch – in which competitors vie for a prize pool containing investment and mentorship – provides an insight into some of the iGaming industry’s most compelling innovators. As is always the case with this show, networking opportunities are hardly in short supply and often come with a beautiful sea view, as business leaders gather for drinks, dinner and special gala events within some spectacular venues.

EGR Power Summit (September 13-14)

This invite-only event is being held at the Surf & Sand Resort in California, a state that has hit the headlines recently due to a long-running saga concerning the legalisation of sports betting. Guests attending the Summit will be able to connect through one-to-one meetings and social activities, while also joining in with the debate at expert-led content sessions including topics ranging from fixed-odds horse racing to proactivity in responsible gambling. Keen golfers can get involved in an event tournament, while there’s also a whisky tasting session at which delegates can unwind.

CEEGC 2022 (Central and Eastern European Gaming Conference), Budapest, Hungary (September 16)

Hipther Agency, parent company to betting and gaming media platform European Gaming, is preparing to host the largest edition yet of its CEEGC (Central and Eastern European Gaming Conference) in Budapest, Hungary. The 7^th edition of the event is set to be held on 16^th September at the Ritz-Carlton Budapest, marking the conference’s first return following the last two years.

AstroPay has appointed Fayyaz Ansari as its Chief Financial Officer (CFO).

Having worked in finance for over 20 years, Fayyaz brings with him a deep understanding of the global payments industry. Prior to joining AstroPay, he was working at Skrill, NETELLER & Income Access (part of Paysafe Group Plc) as CFO of their digital wallet division and board member of their regulated entities. He will be based in the UK with responsibility for overseeing all aspects of AstroPay’s global financial management and activities.

Fayyaz’s extensive leadership experience includes controllership, treasury, financial planning and analysis, tax restructuring, corporate finance, performance management, M&A and strategic planning. He also managed other aspects of the finance function which includes banking, investments, financial systems and was involved in fundraising as well as coordinating efforts for an exit via a trade sale/ IPO.

“I am delighted to welcome Fayyaz to AstroPay where he will undoubtedly make an immediate impact as we aim to become the world’s leading payments platform. His wealth of experience will be essential in implementing our strategic plans to accelerate growth and position AstroPay for the future. Fayyaz and the team will contribute to our mission of providing financial freedom to millions of people worldwide. He is an excellent addition to the AstroPay team and I look forward to working with him in our journey,” Mikael Lijtenstein, CEO of AstroPay, said.

“I’m thrilled to have the opportunity to join AstroPay as the next step in my career. I am excited about working with a team that is passionate about the business, has a clear strategy and always puts customers’ needs first. With its commitment to global expansion, a strong business model, a focus on diversity and proud history, AstroPay is well positioned for extraordinary growth and impact. I believe the company’s unique value proposition and strong foundation will allow the business to grow and execute its vision of making payments much more accessible to customers around the world,” Fayyaz Ansari, CFO of AstroPay, said.

Carl Degiorgio, COO at PressEnter Group, says that customer service is a powerful differentiator that most operators are not currently taking advantage of

Online casino operators such as PressEnter Group go to great lengths to ensure their brand delivers more value than those of their rivals. To do this, many focus on areas such as marketing, bonusing and the slots and games stocked in their lobbies.

But one of the most powerful ways to differentiate is also one of the most underestimated, and that is customer support.

Customer support is one of the most vital departments when it comes to the success of any company but especially an online casino. In an industry where creating a unique yet sustainable competitive advantage is challenging, this can be a key differentiator.

Customer service is so important because it is often the first point of contact for customers. It is where they go when they are considering signing up for the first time but have a question, need assistance during their time at the casino or if they have had a bad experience and are going to close their account.

This makes it a fundamental part of the overall player experience, and if run correctly can be used to convert more players, boost retention and drive cross-sell.

A blueprint for top-level customer support:

At PressEnter Group, we believe that good customer support comes down to providing the right information at the right time, but gold standard customer support requires going a step further.

At a minimum, players expect to be able to speak with agents at all times so this means offering 24/7 customer support across all channels – live chat, email, telephone, etc. Agents must be highly trained, and not only meet but exceed customer expectations always.

The philosophy of doing whatever it takes to ensure the player is happy and to make them feel valued needs to be embedded in the company culture and be applied to all departments and not just customer support.

Delivering the highest level of customer support is not without its challenges:

Just like any department within an online casino operator, customer support has many challenges to face and overcome. The main hurdle is hiring the right people for the job – customer service can be testing at times and to be a good agent requires talent and training.

For global operators, it is important to hire agents that speak different languages – as we all know, localisation is key to the success of an online casino. But it is just as important to train agents and to continue to help them develop and grow.

The only way to ensure agents meet the standards set by the company is to employ the best talent in the industry, and again that can be easier said than done. But by providing the right working environment, training and incentives, it can be done.

This is vital for operators that are active in multiple markets, as they have additional complexities to contend with. The greatest of these is the need to hire talent that can speak the local language and ensure that agents are available at all times despite the different time zones.

This is why PressEnter Group has hired a scheduling coordinator who is responsible for managing customer service agent rotas based on the expected traffic at different times of the day, on different days and in each of the jurisdictions where we are active.

Leveraging the latest technologies:

While having a talented and trained team of agents is key to customer support, so too is the technology used to deliver the service to players. In most cases, operators will use a third party for this, and, in our experience, it is vital to undertake due diligence prior to entering an agreement.

Operators need to ensure their chosen partner is robust and reliable and that they can scale in line with their own growth plans.

The latest technologies need to be combined with seamless processes and training. Beyond covering the basics, training should be wide in scope and granular in execution if support agents are to achieve the highest possible standards of service and reflect the brand’s image and core values.

Having the right processes in place ensures there is organisation within the department. This is especially important when scaling rapidly as PressEnter Group has – without clearly defined processes, there is a risk of generating chaos which in turn will negatively impact customer support.

PressEnter Group puts such importance on processes, organisation and training that we have a dedicated training coordinator as well as a QA specialist.

Customer service and responsible gambling:

Customer support is not only vital to acquisition, retention and delivering a superior player experience, it is also a powerful responsible gambling tool.

While licensed operators such as PressEnter Group offer the tools and information that players need to stay in control of their play, nothing beats the direct line of communication that customer support agents have with our customers.

They are able to observe playing patterns, monitor communications and make interventions as and when required. And they can do this with a personal touch.

The basics of customer support are the same for all operators, so to use this aspect of online casino to stand out they need to dare to do things a bit differently. You might not get it right the first time around, but over time it will lead to stand-out customer service.

At PressEnter Group, we have learned to master the basics and now put our own unique twist on customer support. This sets us aside from our rivals and is reflected in our customer satisfaction scores, which are way above the industry average.

There is minimal differentiation when it comes to games and payment methods being offered by operators, yet the customer service delivered by staff members simply cannot be replicated by other brands and this must be capitalised on.

Those that do will not only elevate the customer experience, but they will take player acquisition, retention and loyalty to the next level.

EGT in partnership with its distributor for the Italian VLT market Global Starnet has strengthened its position as one of the most successful gaming suppliers on local level, having recently made a large-scale installation of 170 cabinets of the P-27/27 St Slim VLT model. They offer top titles from the Bulgarian manufacturer’s portfolio and players can enjoy them at numerous gambling halls in many cities throughout the whole country.

“I’m very excited about this installation, which is among our biggest successes since the pandemic, and I want to give special thanks to our long-term partner Global Starnet for helping us make it happen. The feedback we have received from the managers of the gaming establishments regarding the performance of our products has been very good. According to them, their customers are fascinated by the convenience and the outlook of the cabinet, as well as the enthralling games, among which Rise of Ra, Burning Hot, Burning Hot Coins stand out. Burning Hot Coins has a brand new and innovative mathematical model and is already а favorite to the players,” Zornitsa Boncheva, regional manager for Italy at EGT, said.

Ms. Boncheva added that another delivery of 200 P-27/27 St Slim VLT cabinets was going to be made soon. She also revealed that more new highly-potential games were in the process of preparation and will be available to the Italian gaming audience in the near future.