Angler Gaming: Interim Report for 2nd Quarter 2024

Key Facts for the 2[nd] Quarter 2024 (1[st] April 2024 - 30[th] June 2024)

Revenues increased 7.92% and EBIT increased 117.99%

All figures are compared to the same quarter last year if not explicitly stated otherwise.

Revenues increased by 7.92% to €10,207,914 (€9,458,630).

EBIT increased by 117.99% to €1,474,691 (€676,489).

EBIT margin of 14.45% (7.15%).

Net profit increased by 202.22% to €687,154 (€227,366).

Earnings per share of €0.0092 (€0.0030).

PremierGaming Ltd, the Group's B2C subsidiary licensed in Malta and Sweden focusing on Northern Europe, represented 3.36% of the Group's revenues in Q2 2024.

Trading update Q3 2024

The trading update is an indication of how the third quarter 2024 has started, however it is not a revenue forecast for the quarter.

The average daily net gaming revenue in the third quarter 2024 up until and including 15[th] of August was 4% lower than the average daily net gaming revenue of the full third quarter 2023 The main reason for the lower revenues were overall higher than average winnings during the period.

The average daily deposits in the third quarter 2024 up until and including 15[th] of August was 8% higher than the average daily deposits of the full third quarter 2023.

The fully updated version of ProntoCasino.se (under PremierGaming Ltd's Swedish B2C license), including the new lottery betting offering launched towards the Swedish market on 15[th] of April 2024, represented 8.5% of the Group's total revenues in July 2024.

Events during Q2 2024

The available cashflow from operations has improved in the second quarter by 82.83% from €910,663 at the end of Q1 2024 to €1,664.835 at the end of Q2 2024.

The repayment of the short-term unsecured borrowing of €1,000,000, the Group's only loan, has continued in the quarter and after and the remaining balance at the date of this report is €400,000. The remaining of the loan is expected to be repaid during 2024

On 15th of April 2024 PremierGaming Ltd launched a fully updated version of ProntoCasino.se towards the Swedish market, including the new Lottery Betting offering towards Swedish recreational players. PremierGaming Ltd had €406,590 in marketing cost in Q2 2024 compared to the Q1 report's estimated €500,000.

In the quarter the Group continued to invest in the fully owned proprietary I-Gaming platform and the Group's two relatively new business areas, namely the fully owned affiliate marketing venture (Marlin Media Ltd) and the Sportsbook offer. As regards the new Sportsbook project for the Swedish market, its launch by PremierGaming Ltd, which was initially aimed to occur in Q2, was delayed.

The Annual and Sustainability Report together with the Audited Financial Statements for 2023 were published on the 30th of April 2024.

The Annual General Meeting approved the appointment of George Farrugia to the Board of Directors of Angler Gaming plc.

Events after Q2 2024

The Group continues to focus on the below four main projects:

1.
1.
ProntoCasino - following the launch in Q2 of a fully updated version of ProntoCasino.se towards the Swedish market, including the new lottery betting offering towards Swedish recreational players, and the Group's investment in marketing, the initial KPIs continue to look promising, including the ROI on the marketing cost, and in July 2024 Prontocasino.se recorded a strong growth and represented 8.5% of the Group's total revenues in July 2024.

1.
2.
Marlin Media Ltd - Marlin Media, the Group's refocused Affiliate Marketing company started its venture in Q2 2024. The goal is to continue developing exceptional and innovative customer-facing products and brands, targeting a significant market segment within the iGaming sector. The objective is to break even within two years. The investment is projected to be around €60,000 a month, as mentioned in the Q1 report, is funded internally by the Group's existing funds and cost savings. The Marlin Media venture is so far well within budget. The CEO, Ionut Constantinescu, and his team achieved a positive and productive start of the venture resulting in:

1.
1.
a.
strengthening the operational infrastructure and onboarding new key talent; 

b.
A complete redesign and relaunch of the affiliate brand;

c.
The development of a brand-new propriety platform for innovative presentation of operators via multiple brands and geos;

d.
Working on launching an additional affiliate brand.

1.
3.
New Swedish Sportsbook brand - PremierGaming Ltd has full focus on launching the new innovative and competitive B2C Sportsbook brand for Sweden towards the end of Q3 2024. 

1.
4.
B2B offering - the Group continues to enhance its successful B2B offering.

Key Facts for half-yearly 2024 (1[st] January 2024 - 30[th] June 2024)

Revenues increased 11.68% and EBIT increased 39.68%

All figures are compared to half-yearly 2023 if not explicitly stated otherwise.

Revenues increased by 11.68% to €21,093,525 (€18,886,861).

EBIT increased by 39.68% to €3,042,898 (€2,178,415).

EBIT margin of 14.43% (11.53%).

Net profit increased by 10.9% to €1,512,081 (€1,363,439).

Earnings per share of €0.0202 (€0.0182).

Thomas Kalita, Angler Gaming plc's CEO, comments: "The quarter registered a strong quarterly year on year growth in EBIT and Net Profit and at the same time showing growth in revenues. Our focus and work on improving the margin have had a good effect. In addition, the number of active customers was 48,759 in the quarter, an increase of 33% compared to Q2 2023."