Motimalul, Chief executive officer of NeoGames has stated that the group is well-positioned to realize the ambitious internal goals set after a 2022 year that was praised as having ended “on a very high note”.
Malul’s fourth quarter earnings call and full-year earnings call focused first on the lottery and his principal mission to achieve global expansion ambitions.
“…we believe that the actions and decisions made over the past year have helped us move forward in our quest to be a global leader within the industry,” he said.
“We are seeing more convergence, as I’ve mentioned before when the lottery business went digital. We offer a wide range of products and services for our lottery customers, including online gaming, sport betting, and lottery.
This is where attention was drawn to North American markets, and the launch of a Virginia-based game that “became the most popular online lottery game launch so far”.
A number of NeoGames introductions that were said to have “contributed instantly” led to a larger localised strategy being adopted.
Malul stated that “our growth and success have also been fueled a number of our own initiatives geared towards driving organic growth.”
“…we have become a major player in the igaming, online sport betting markets.”
Addition: “The high quality and performance of NeoGames Studio is one of our key advantages to enable customers to reach their leadership positions in the market and achieve their full potential.”
NeoGames’ total revenue, which includes its share in NeoPollard Interactive for the fourth quarter, increased to $83m (2021 – $21.3m) and $210m (2021 – $84.5m) for 2018.
Ilottery was praised for a record-breaking year, with revenues of $28m, $98m, and FY respectively, while igaming saw growth of 27% and 13% during these time periods.
Malul was also mindful of these numbers and reserved praise for the AspireGlobal acquisition last year, which Malul said “unlocked our potential outside our core focus”.
He said, “With the expansion we are becoming a major player in the igaming market and online sports betting markets. This is a huge opportunity for us, as it has allowed me to greatly expand my market.
Malul described “great progress” in international casino business by describing eight deals signed through Q4 2022, and six more during this quarter.
The firm is not only focusing on Europe’s “significant and continuing interest”, but Latin America, which Malul mentioned as “gaining momentum”, also features prominently in its radar.
He said, “During the fourth quarter, notably we went live in Argentina through a partnership With Andes Group, that is regulated by Buenos Aires.”
“We see Latin America as a developing region for our games and aggregation, especially in Mexico and Colombia where we have established strong positions.”
“… it has been a transformative year for NeoGames in all of our businesses.”
The sports betting market saw a 30% increase in year-over-year growth, with the Qatar men’s football World Cup providing many growth opportunities.
It was stated that “In our opinion, we are well-positioned as an industry leader capable to provide our customers with a complete suite of solutions to address all their digital needs.”
“Our launch in Brazil (which I will also touch on) is an excellent example of the revenue synergies that we continue to target all over the world.
NeoGames suggests that it intends to be very deliberate and measured in its approach to learning new market dynamics. It will also focus on “getting it right” to achieve long-term excitement.
Malul concluded, “To conclude my remarks it has truly been an transformative year for NeoGames across our businesses.”
“We are well-positioned to execute our strategy, and we are excited for the future.”
