Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
|---|
| Turning to iGaming, we have been very pleased with the development on all fronts and the progress we continue to make in this space |
| Nice results |
| However, the fact that the jackpot happened in January and still we had a knock on wood pretty strong quarter overall could suggest to you that we were able to leverage the traffic coming in from that jackpot into the remainder of the quarter and the strong results have not stopped in January |
| Overall, we have seen strong growth both year-over-year and sequentially across our business when looking on a like-for-like basis |
| Moreover, our adjusted EBITDA for the group also continues to show strong growth as we posted $20 million for the quarter |
| In our iLottery business, we continue to exhibit strong growth with the first quarter revenues of $29 million an all-time high |
| We truly, truly believe that in the longer term, the White Paper, which we find to be very measured and in line with our expectation, allows for sustainable growth with our partners and our B2B partners in the country |
| In addition to the expected strength of first quarter results due to typical seasonality, we saw growth in strong performance across all our key global accounts |
| Our solid first quarter performance in the US was driven by both jackpot runs in each of January and February and the continued outperformance of our own initiative and game content |
| As we mentioned on previous calls, jackpot runs provide both an immediate boost due to increased engagement as it drives new signups as well as returning players then followed by a longer term growth opportunity in terms of player conversion into instant games and other non-jackpot games |
| We are very pleased that this strong performance was accentuated by our own selection of engaging games which allowed us to grow wallet share |
| Overall, we began 2023 with a very strong quarter as we continue to capitalize on our investment in technology and game content |
| In addition to other strong performing games from our studio that rolled out with impressive performance, Desert Fantasy was recently awarded Gold Category winner for Best New Game by EGR North America |
| We are so proud that NeoGames has also won the overall category of Best Lottery Supplier of the Year by EGR North America |
| We have added statement of cash flows to the quarterly earning materials and we are proud to note that strong results have put us in a positive cash flow position |
| We believe that, as I said earlier in my remarks, we started the year on a very strong note |
| As you can see, we are very pleased with the progress we have made across our business in the short time since we last spoke |
| Longer term, we believe the White Paper provides a framework that will allow us to cater for ongoing, sustainable long-term growth in the UK market |
| And we're starting to see more and more fruits in the synergies that we have with the different parts of the Aspire group that we have acquired and confident in our ability to bring more of that into the investors in the next couple of months |
| In our sports betting segment, BtoBet had a very impressive quarter with strong performance of its major accounts, where March had been an all-time high in number of bets processed, leading also to both strong year-over-year and sequential growth |
| We remain very excited to see our integrated offering build and prove successful in this market going forward |
| All of this has resulted in impressive growth by our aggregation and content segment, grew revenues impressively in over 15% year-over-year as well as sequentially |
| The cloud based solution will allow the Virginia lottery to improve efficiencies and more easily scale, particularly with the increased volumes associated with jackpot runs |
| Before turning to our international accounts, we wanted to highlight an area of innovation in our iLottery offering of which we are very proud |
| Specifically, the increasing number of developments that display the benefits of our integrated offering give us further conviction in the synergies that we still have yet to achieve as a result of our Aspire acquisition |
| In terms of new markets for iLottery, we have seen continued momentum in the US and internationally |
| Together with our local partner, we intend to continue to be deliberate and measured to ensure we are building a solid and proper foundation for long-term success |
| I would say that over time into the future, it's not only technology advantages and operational advantages that lotteries needs to weigh in |
| Nice quarter |
| This impressive results are primarily due to a combination of reasons |
| Statement |
|---|
| As a result, the comparison to prior year numbers queued the year-over-year comparison to appear negative as they were recorded on gross basis |
| My first question after the mega millions run in January, US lottery sales have been a bit weaker |
| The time that lapsed from November, which was the all-time high $2 billion jackpot to the one in January, which was literally six weeks apart, obviously suggested that there would be certain fatigue |
| During the first quarter, our adjusted EPS was $0.20 per share compared to negative $0.03 per share for the first quarter of 2022 |
| It's just that it caught the public attention more than some other processes |
| Just curious, if anything, changed since you initially issued guidance on March 6th compositionally or if anything has kind of caught you guys by surprise either positive or negative |
| However, we have to say that the retention has been significant |
| There's always a shorter term impact which if you work hard to mitigate in advance, should not hit your business significantly |
| This has historically resulted in higher revenues, but lower margins for the Aspire Core business |
| Correct me if I'm wrong |
| What would you attribute a drop-off in play to? Do you believe it's jackpot fatigue or maybe more macro related? Thanks |
| Q2 and Q3 weren't the strongest quarters |
| To remind you, wizard itself is a studio in infancy stages |
| Obviously, there are so many factors, as you said yourself, the factor of potential fatigues, the factors of potential other things happening in that specific market and overall |
| And I do appreciate that there's still some potential variability there |
| So the measures we have taken up until now and the ones that we will take as more information comes out with regards to the White Paper should allow us to be impacted, in our opinion, in a modest manner |
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