Cloud hosting provider Internet Vikings has moved to expand its offering with the launch of its new flexible cloud offering, which focuses on enabling customers to scale their cloud infrastructure.
The offering looks to bolster US market growth for operators hoping to expand and scale efficiently. As a result of the pay-as-you-go (PAYG) model, customers will also be able to maintain their contractual resource commitment but can provision additional resources as needed.
Rickard Vikström, Founder and CEO of Internet Vikings, commented: “Businesses can now remain agile by scaling in real-time. This aligns with our mission to provide top-tier hosting solutions that develop alongside the customers. We believe this feature will improve the way businesses leverage cloud hosting.”
The firm also highlighted that its Internet Vikings’ flexible cloud offering is available to all customers purchasing its VMware Cloud.
“We understand the need for flexibility, especially for businesses that experience fluctuating demands,” added Kristoffer Ottosson, COO at Internet Vikings. “By removing the standard barriers to scaling cloud resources we’re giving our clients the freedom to right-size their environments without operational delays.”
It comes as the firm continues its focus on the US market, having recently also agreed a deal with EveryMatrix in West Virginia.
This deal bolsters operators’ compliance with challenging West Virginia regulatory frameworks. It builds on Internet Vikings’ continued expansion across the US, with it now present in 24 states. Internet Vikings also recently evolved its reach by becoming a member of the Indian Gaming Association (IGA). The group emphasised its ambitions to leverage its membership with the IGA to form new long-term partnerships and bring its products and services to new markets.
Bally’s Corporation is moving on from its Asia interactive business to focus on its operations in North America and Europe.
According to an SEC filing on the company’s website, filed on 31 October, Bally’s has entered into an agreement to sell its interactive business in Asia and certain other international markets to a company formed by members of the carved-out business management. The identities of the members of the buying company were not revealed.
Under the terms of the transaction, the ownership of certain intellectual property will be placed in trust and licensed to the buyer for five years, while Bally’s will also provide certain transaction services to the buying company.
Once the transaction is completed, Bally’s will focus its capital and resource allocation on its North American and European business. It will not be involved in the management, operations, or governance of the carved-out business.
The SEC filing states: “On October 31, 2024, Bally’s Corporation (“Bally’s” or the “Company”) entered into an agreement to sell its interactive business in Asia and certain other international markets (the “Carved-Out Business”) to a company (the “Buyer”) formed by members of the management of the Carved-Out Business.
“Ownership of certain intellectual property has been placed in trust and will be licensed to the Buyer for a term of five years (subject to extension). The Company will also provide the Buyer with certain transition services. The Buyer is acquiring the Carved-Out Business in exchange for a note. Bally’s will have no role in the management, operations, or governance of the Carved-Out Business.
“The transaction is intended to allow Bally’s to focus its capital and resource allocation on North American and European business, and this Carved Out Business will benefit from focused management attention and aligned ownership.”
Bally’s also mentioned how it expects the Asia interactive business transaction to affect the financial performance of the overall company going forward.
The company noted that adjusted EBITDA and free cash flow will likely see a “modest decline” due to cost actions related to simplifying its organisational structure and other cost reductions.
“The financial impact of the transaction is not expected to be material to adjusted EBITDA or free cash flow of the Company,” the SEC filing continued.
“Going forward, the financial statements of the Company will only reflect licensing and royalty revenues received from the Buyer, which are expected to be lower than revenues under the current accounting treatment, but the profitability margins associated with those licensing revenues are expected to be higher as is customary in the gaming industry for IP licence business models.
“The expected modest decline in adjusted EBITDA and free cash flow resulting from the transaction are expected to be mitigated by cost actions to simplify Bally’s organisational structure and other cost reductions.”
