Off the back of its rollout in Pennsylvania, Caesars Digital has confirmed the expansion of Horseshoe Online Casino into West Virginia.
The operator underlined that it is set to feature a myriad of progressive jackpots, high-limit slot titles and unique table games. This marks the tenth casino to launch into the state and the third for Horseshoe Casino.
Senior Vice President and Chief iGaming Officer at Caesars Digital Matt Sunderland, commented: “The Horseshoe brand is anchored by a promise to put the player first.
“A brand with such a storied past deserves an online equivalent that pays respect to the legacy it has established in gaming, and that is what we’ve created with Horseshoe Online Casino. This launch reinforces our multi-brand online casino strategy by seamlessly bringing another one of our world-class Caesars brands into the palms of players’ hands.”
Horseshoe Online Casino’s multi-lobby navigation layout is modelled after a real-life casino floor layout, focusing on curated lobbies dedicated to game mechanics such as high-limit slots, private live dealer tables, linked progressive jackpots, poker and roulette variations and more.
The platform incorporates the Horseshoe brand with gold horseshoe iconography, operating on a natively built proprietary gaming platform with a bonus engine offering customisable player promotions and an interface with near-instant loading times.
Caesars recently celebrated a positive period in the third quarter of 2024, with an increase of more than 80% supporting online revenue growth of over 40% year-over-year.The operator also confirmed the completion of its World Series of Poker brand sale to GGPoker‘s parent company NSUS Group, in addition to entering a definitive agreement to sell the LINQ Promenade to a joint venture to be formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia).
Gentoo Media published a 15th consecutive quarter of revenue growth for Q3 2024 following its recent split from Gaming Innovation Group (GiG).
Across the third quarter, Gentoo’s revenue grew to €30.4m to represent a 35% growth year-over-year (12% organic) on previous year’s comparatives of €22.5m in Q3 2023.
Jonas Warrer, Gentoo Media CEO, commented: “I am pleased to present our third quarterly report for 2024, marking yet another record-setting quarter for Gentoo Media, with 15 consecutive quarters of all-time high revenue.
“Our focused strategy on sustainable, long-term growth – emphasising diversification and increased revenue share earnings – continues to strengthen our business. Despite market volatility, our disciplined approach has proven resilient, driving steady success and positioning us with a competitive edge in an increasingly dynamic marketplace.
“We remain confident that our strategic path will support our continued growth and stability in the coming quarters.”
Adjusted EBITDA came in at €14.6m (Q3 2023: €10.4m) reflecting a 48% margin, while group accounts booked ‘special items’ related to the company’s September split from GiG, capped at €600,000.
With special items excluded, EBITDA witnessed an uptick of 36% YoY by growing to €14m (46% margin). Media cash flow operations were valued at €19.9m, while IFRS5 standard platform & sportsbook cash flow was €12.2m.
In total, 58% of revenues were generated from recurring revenue share agreements, an increase of 24% YoY.
Despite headwinds in Norway, Europe-centric revenue increased 51% YoY, while revenue share from the Americas grew by 52%. This growth in the Americas was headlined by more than double digit growth in North America.
Europe and the Americas stood as principal markets, contributing 59% and 21% of quarterly revenue respectively.
Gentoo’s portfolio saw non-top five websites contributing 65% of the total revenue gained across Q3, an increase of 46% YoY. Meanwhile, top five websites revenue (35% of total) also increased 14% YoY as Gentoo’s explained that “a significant increase was seen in partners generating more than €10k per quarter, up 94% YoY”.
This influx of revenue comes as a result of an update from Google launched earlier this year, which offset the search rankings of Casinotopsonline.com and other Gentoo websites.
Leadership at the company expects that momentum will continue into Q4, sticking with its 2024 guidance expecting projected revenues of €125-135m and an EBITDA margin of 45-50%.
