NeoGames launches content with Georgia Lottery, expanding NeoGames Studio’s presence in US
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The expansion of NeoGames Studio's eInstants with the Georgia Lottery Corporation signifies a strategic move to capture a larger market share in the iLottery and iGaming industry. This partnership is expected to diversify the Georgia Lottery's portfolio, potentially leading to increased user engagement and revenue. The iLottery sector has seen significant growth and with NeoGames' proven track record in other US states, the integration of their eInstants could offer a competitive edge.
It is crucial to monitor the performance of these new offerings in terms of user adoption rates and revenue generation. The success in Georgia could serve as a benchmark for NeoGames' future expansions in West Virginia and Pennsylvania. If the eInstants perform well, it could lead to upward revisions in revenue forecasts for NeoGames and demonstrate the effectiveness of their expansion strategy.
NeoGames' launch in Georgia represents a potentially lucrative revenue stream, as the Georgia Lottery is one of the most successful in the US. The financial implications for NeoGames hinge on the performance of the eInstants, which could drive both short-term and long-term growth. The deal may reflect positively on NeoGames' stock (NGMS), particularly if the company reports higher-than-expected revenues from this collaboration.
Investors should consider the scalability of NeoGames' offerings and the company's ability to maintain a competitive advantage in a rapidly evolving market. The scheduled launches in other states indicate a growth trajectory that could attract investor interest. However, investors should also be aware of the regulatory risks inherent in the iGaming industry.
The integration of NeoGames Studio's eInstants into the Georgia Lottery's online offerings is an important development in the iGaming sector. The ability to attract a broader player demographic through premium content is a key growth driver for online lotteries. The industry-standard performance of NeoGames' titles in other states suggests that their games are well-received by players, which could translate into similar success in Georgia.
Understanding player preferences and the performance of specific game titles is essential for predicting the potential impact on the market. The industry trend towards digitalization and the demand for diverse and engaging gaming experiences are factors that could support NeoGames' expansion efforts. The impact on the broader iGaming industry will depend on the company's ability to sustain innovation and meet evolving consumer demands.
LUXEMBOURG, March 05, 2024 (GLOBE NEWSWIRE) -- NeoGames S.A. (Nasdaq: NGMS) (“NeoGames” or the “Company”), a technology-driven provider of end-to-end iLottery and iGaming solutions, has expanded the US footprint of NeoGames Studio by launching its range of premium eInstants with the Georgia Lottery Corporation.
The launch significantly elevates the online offering of Georgia Lottery, one of the most successful lotteries in the US, by complementing its range of successful Diggi Games; enabling the operator to enhance its appeal to a broader player demographic and increase opportunities for engagement and retention.
NeoGames Studio has been delivering award-winning eInstant content to lotteries worldwide for over 17 years, vastly improving the offerings of NeoGames’ customers. In North America, the studio’s industry-leading games are live in Michigan, New Hampshire, North Carolina, Virginia, Atlantic Canada, and Alberta (Canada). Launches in West Virginia and Pennsylvania are scheduled for later in 2024, further expanding the studio’s presence in the continent.
Hili Shakked, Managing Director of NeoGames Studio, said: “We are thrilled to have the opportunity to deliver our portfolio of eInstant games to the Georgia Lottery, one of the leading lotteries in the US. I am confident that our range of premium eInstants, including titles that are exceptional performers in other US states, will enhance the appeal of Georgia Lottery’s online offering.”
Gretchen Corbin, President and CEO of the Georgia Lottery Corporation, said: "The Georgia Lottery Corporation is pleased to offer NeoGames Studio’s eInstants as a source of entertainment for our valued players. These new games are an excellent addition to our current Diggi Games portfolio, providing additional exciting experiences for our players. Diggi Games contribute greatly to the Georgia Lottery’s mission to maximize revenues for Georgia’s HOPE Scholarship and Pre-K programs. We appreciate the opportunity to partner with NeoGames as we work to continue growing this vital category of games.”
About NeoGames
NeoGames is a technology-driven innovator and a global leader of iLottery and iGaming solutions and services for regulated lotteries and gaming operators. The Company offers its customers a full-service suite of solutions, including proprietary technology platforms, two dedicated game studios with an extensive portfolio of engaging games – one in lottery and one in casino games, and a range of value-added services. The recent strategic acquisition of Aspire Global Group enables NeoGames to offer the most comprehensive portfolio across iLottery, an innovative sports betting platform from BtoBet, an advanced content aggregation solution from Pariplay, and a complete set of B2B Gaming tech and Managed Services. NeoGames remains an instrumental partner to its customers worldwide, as it works to maximize their revenue potential through various offerings, including regulation and compliance, payment processing, risk management, player relationship management, and player value optimization. NeoGames strives to be the long-term partner of choice for its customers, empowering them to deliver enjoyable and profitable programs to their players, generate more revenue, and maximize proceeds to governments and good causes.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such statements are based upon current plans, estimates and expectations of management that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as “anticipate,” “expect,” “project,” “intend,” “believe,” “may,” “will,” “should,” “plan,” “could,” “may,” “continue,” “target,” “contemplate,” “estimate,” “forecast,” “guidance,” “predict,” “possible,” “potential,” “pursue,” “likely,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. All statements, other than statements of historical fact, are forward-looking statements.
These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors including, without limitation the risk factors set forth in Item 3.D. “Key Information- Risk Factors” in our annual report on Form 20-F for the year ended December 31, 2022, filed with the Securities and Exchange Commission on April 28, 2023, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Contacts
Investors Contact:
ir@neogames.com
Media Relations:
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