EdisonTV
easyJet
EdisonTV | Travel & Leisure | 11/10/2017
Executive interview - easyJet
• easyJet focuses on developing strong positions in Europe’s leading airports – flying between airports that people want to travel to with optimised frequency. Its principal competitors at these leading airports are the legacy airlines and charter carriers, rather than other low-cost carriers that operate in secondary and tertiary markets. • The company is delivering its strategy through six pillars: building strong number one and two network positions; maintaining a lean cost advantage; customer and operational excellence; growing revenue; leveraging data and digital platforms; and hiring and developing the best people. • In challenging markets, its strategy of building on its competitive advantages – its network and market positions, efficient low-cost model, well-known brand and strong balance sheet – should position it to deliver sustainable and disciplined growth and returns for shareholders.
Intralot – executive interview
In our first interview with Chris Sfatos, deputy CEO of Intralot, he begins by talking about the products and services that Intralot provides and the customers it serves. He then highlights the key attractions of the industry, such as the high barriers to entry, long-term nature of contracts with its clients and high renewal rates, and the competitive dynamics of the industry. Before discussing the operational and financial restructuring the company has undertaken over the last few years, Chris talks about what could boost Intralot’s growth prospects and profitability over the next few years and, equally, what are his main concerns.
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08/02/2024 | Intralot
Intralot - Equity proposition
Intralot is a leading gaming technology and services provider with 52 live contracts across 39 countries. Listed on the Athens Stock Exchange, Intralot has a market capitalisation of €593m.
Intralot has an integrated offering covering lottery, betting, interactive gaming and ancillary services. This enables Intralot to service clients across the gaming ecosystem, from government authorities to private operators, as well as operating its own gaming licence. With proprietary technology powering activities and driving innovation, Intralot is well-positioned to capitalise on the major growth opportunities in regulated gaming markets globally.
•Intralot enjoys long-term contracts. Typically these last up to 10 years, although many contracts are extended further with a current weighted average term of 15 years.
•Intralot has built geographic diversification across 39 countries with 52 live contracts. This mitigates reliance on any single market.
•Since 2008, Intralot has delivered an impressive 89% contract renewal rate, demonstrating the stickiness of its customer relationships and the strength of its solutions.
•Intralot is focused on regulated gaming markets globally. Gaming markets are estimated to grow at a 4.5% revenue CAGR over 2022 to 2028, with opportunities in the US as 12 state lottery contracts (that are not currently clients of Intralot) open for bidding over the next three years.
•Intralot has undergone an operational restructuring, delivering substantially improved profitability. Over the past three years EBITDA has shown double-digit growth while margins have expanded from 12.2% in 2019 to an expected 36% in 2023.
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14/12/2023 | Intralot
Executive interview – Aspire Global on ESG
Aspire Global is a leading B2B provider of iGaming solutions, offering companies everything they need to operate a successful iGaming brand, covering casino and sports. The B2B offering comprises a robust technical platform, proprietary casino games, a proprietary sportsbook and a game aggregator. On 17 January 2022, NeoGames (Nasdaq: NGMS) commenced a public offer to the shareholders of Aspire Global to acquire 100% of the company’s outstanding shares, for a total purchase price of approximately $480m.
In this video, Aspire Global’s chief executive officer Tsachi Maimon and sustainability manager Liesbeth Oost discuss the company’s ESG initiatives and how they encourage responsible gaming in the high-growth iGaming market.
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21/04/2022 | Aspire Global
Aspire Global - executive interview
Aspire Global is a leading B2B provider of iGaming solutions, offering partners all relevant products to operate a successful iGaming brand, covering casino and sports. Its B2B offering comprises a robust technical platform, proprietary casino games, a proprietary sportsbook and a game aggregator. Aspire operates in 30 regulated markets across Europe, the United States, South America and Africa. The company continues to enjoy strong revenue momentum from new client wins and geographic expansion, posting significant growth each quarter.
In this interview, Aspire Global’s managing director of US operations, Quincy Raven, discusses the company’s vision for the burgeoning US market.
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06/01/2022 | Aspire Global
bet-at-home - executive interview
In this interview, bet-at-home's CEO, Franz Ömer gives an overview of the company's interim results. He then discusses the operational, regulatory and legal issues that led to the recent downgrade to financial guidance for FY21. These include the disruption to expected revenue growth from regulation changes in Germany, suspending the bet-at-home offer in Poland while bet-at-home applies for a sports betting licence and the litigation provision in Austria.
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05/08/2021 | bet-at-home
Consolidation in online gambling. Will investors profit?
The increasing average size of online gambling businesses is an established global trend. The total combined revenues of the five biggest operators now stands at $16.4bn, an increase of more than 300% over just five years. The market they serve has grown rapidly too with revenues up 70% over the same period, though the rate of increase is far slower. The considerable gap between these two growth rates suggests much of the major players’ growth is being driven by M&A.
With high demand comes high prices. B2B gaming provider Aspire Global paid around $15m for Pariplay in June 2019, a business that now has revenues of almost $25m. Meanwhile Kindred paid nearly $380m for Relax, which had reported nearly $30m in revenues in June 2021.
Are investors likely to benefit from this continued consolidation spree? In this video Russell Pointon, senior consumer analyst at Edison, and Tsachi Maimon, CEO of Aspire Global, discuss the market and its prospects.
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03/08/2021 | Aspire Global
bet-at-home - executive interview
In this interview, CEO Franz Őmer discusses the key highlights of bet-at-home’s FY20 results, which were much better than the company’s guidance (EBITDA of €30.9m versus guidance of €23–27m). In November 2020 management outlined the regulatory changes in Germany and the effect the changes might have on bet-at-home’s results in FY21, so in this interview he provides an update on the company’s view and discusses its new guidance for the year. He then discusses the possibility of regulatory changes in other markets and other potential opportunities that may present themselves. Finally, he discusses the outlook for the dividend in FY21 given the company’s guidance for lower profitability.
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10/03/2021 | bet-at-home
Aspire Global - executive interview
Aspire Global is a leading B2B provider of iGaming solutions, offering partners all relevant products to operate a successful iGaming brand, covering casino and sports. The B2B offering comprises a robust technical platform, proprietary casino games, a proprietary sportsbook and a game aggregator. It also owns B2C proprietary online gaming brands, including Karamba. Aspire operates in 26 regulated markets across Europe, the US, South America and Africa.
Management has announced a strategic review of the B2C segment business to determine how to accelerate its growth. B2C represented c 31% of group revenue and c 23% of group EBITDA in FY20, a record high in the segment’s history.
In this interview, Aspire Global’s CEO, Tsachi Maimon provides an introduction to the B2C business and talks about the motivation for the strategic review following the recently announced FY20 results. He then discusses the strategic and financial implications for the rest of the group in the event that the B2C segment is sold. Tsachi concludes by talking about the use of any proceeds given Aspire Global’s already solid balance sheet.
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02/03/2021 | Aspire Global
Borussia Dortmund – executive interview
In this interview, Thomas Tress, CFO of Borussia Dortmund, discusses the recent Q221 trading update that indicated higher profitability against a background of modestly weaker revenue due to COVID-19 and how he thinks the company is performing relative to other clubs. He goes on to talk about how the club and industry are likely to recover after the pandemic and whether there are any near-term changes to contracts for Borussia Dortmund’s key revenue streams. Against the challenging backdrop for revenue, Thomas then discusses how the company has addressed the cost base to improve profitability y-o-y and how cash has been managed. He ends the interview by commenting on whether there are any potential long-term effects on the business from COVID-19 and how the company’s financial profile will be managed with some insight on how transfers may develop as the industry recovers from the effects of the pandemic.
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16/02/2021 | Borussia Dortmund
bet-at-home - executive interview
In this interview, bet-at-home's CEO Franz ?mer discusses the recently announced regulatory changes in Germany. He begins by discussing how he thinks the competitive environment will change in sports betting following the award of a national online sports betting licence, and elaborates on what is and is not permitted following changes to gaming regulations. Franz then talks us through how the restrictions aimed at helping to better protect customers are likely to affect bet-at-home, and how many of the regulation changes are final or still to be clarified. Having described the regulation changes, he highlights how they will affect bet-at-home’s financial performance and future cash returns to shareholders. Finally, Franz discusses how the wider group strategy will be affected by the changes in Germany.
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20/11/2020 | bet-at-home
Borussia Dortmund - EKF interview
Borussia Dortmund has been one of the most successful German football clubs for decades, with regular qualification for the prestigious and financially lucrative UEFA competitions. Over the long term, the club has a reputation and proven track record of prudent investment in young talent while maintaining success on the pitch. The company is celebrating its 20th anniversary as a listed entity.
In this interview Borussia Dortmund’s CFO, Thomas Treẞ provides an overview of management’s long-term strategy. He goes on to explain how the business has been affected by COVID-19 and how the company would react in the event of a prolonged disruption from the pandemic. He then gives his view on how European football competitions may change. Finally, he sets out management’s philosophy towards financial debt given the company’s investment requirements.
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02/11/2020 | Borussia Dortmund
bet-at-home - executive interview
Michael Mubiru (Edison IR) interviews Franz Ömer (CEO of bet-at-home) following the company's Q120 results.
They discuss the impacts of COVID-19 on gaming and sports betting, as well as updates on regulation and expansion into non-core markets. The company's attractive liquidity position and dividends were also explored.
bet-at-home (BAH) is an established European online sports betting and e-gaming provider. It largely operates in grey markets that are characterised by strong cash flow. According to H2 Gambling Capital (H2GC), the European online sports betting and gaming market is expected to experience a 6.5% CAGR between 2018 and 2023 to c €33bn (pre COVID-19 impact). See latest research here.
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07/05/2020 |
Executive interview - bet-at-home at EKF 2019
In this interview, bet-at-home’s CEO, Franz Ömer provides an overview of the business, growth expectations for the overall European gaming market and how the company fits in. He also discusses the business’s strong cash flow, dividend policy and gaming regulation in the key markets, as well as the recent tax changes in Austria.
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09/12/2019 |
Executive interview - Bragg Gaming Group
CEO Dominic Mansour provides an introduction to Bragg Gaming – a fast-growing European online B2B casino operator. Revenue increased by 30% during Q319 and Bragg is now entering the US market through partnerships with Kambi and Seneca.
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12/11/2019 |
Executive interview - PPHE Hotel Group
PPHE Hotel Group has developed a collection of popular, full-service, four-star, deluxe and lifestyle hotels (39 properties; over 9,000 rooms) with a good geographic spread and guest mix. With a focus on European cities (gateway and regional), there is particular representation in the important lodging markets of London, Amsterdam and Berlin, where the hotels are predominantly owned and operated under the Park Plaza brand. Consolidation of resort activities in Croatia in 2016 brought a re-shaping in terms of business and seasonality. Current development projects include two new art’otels in London. PPHE was floated on AIM in 2007 and moved to the Official List of the London Stock Exchange in 2011.
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16/04/2018 | PPHE Hotel Group
Executive interview - easyJet
• easyJet focuses on developing strong positions in Europe’s leading airports – flying between airports that people want to travel to with optimised frequency. Its principal competitors at these leading airports are the legacy airlines and charter carriers, rather than other low-cost carriers that operate in secondary and tertiary markets.
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11/10/2017 | easyJet
Executive Interview - bet-at-home.com (Deutsch)
bet-at-home (ACX:GF) is a long-established European sports betting brand with positive growth drivers: an increasing proportion of betting is being done online, including on mobile. Customer numbers have increased due to increased marketing investment over the 2016 UEFA Euro 2016 tournament, and this should pay off in 2017. Cash balances of €59.3m are expected to swell with the repayment of a €51m shareholder loan during 2017, part of which will be paid out as a special dividend in May. Betclic Everest owns 56%. In November, Bet at Home announced its best result’s since its founding in 1999 with an EBITDA of €12.3m euros in the third quarter of 2016. The gross gaming revenue will increase by 10% and reach the level of €134.0m in fiscal year 2016. The Group generated an EBITDA of €21.3m in the first three quarters as a result of increased marketing costs of €34.2m euros due to the European Football Championship in France.
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03/11/2016 | bet-at-home
Executive Interview – bet-at-home.com (English)
bet-at-home (ACX:GF) is a long-established European sports betting brand with positive growth drivers: an increasing proportion of betting is being done online, including on mobile. Customer numbers have increased due to increased marketing investment over the 2016 UEFA Euro 2016 tournament, and this should pay off in 2017. Cash balances of €59.3m are expected to swell with the repayment of a €51m shareholder loan during 2017, part of which will be paid out as a special dividend in May. Betclic Everest owns 56%. In November, Bet at Home announced its best result’s since its founding in 1999 with an EBITDA of €12.3m euros in the third quarter of 2016. The gross gaming revenue will increase by 10% and reach the level of €134.0m in fiscal year 2016. The Group generated an EBITDA of €21.3m in the first three quarters as a result of increased marketing costs of €34.2m euros due to the European Football Championship in France.
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03/11/2016 | bet-at-home
Pub Sector: repercussions of the Market Rent Only law
Legislation effective today makes it possible for pub tenants to set aside the traditional drinks tie with pub companies, and instead buy their drinks from cheaper sources. Pub companies have had time to adapt their strategies where relevant. This will change the sector in ways the sponsors of the legislation did not intend. We anticipate less immediate disruption than headline would suggest, although the inevitable uncertainty comes at exactly the wrong time given the post-Brexit hit to consumer confidence.
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21/07/2016 |
Executive Interview - Tourism Holdings
Tourism Holdings (THL) has been listed on NZX since 1986. It is the largest motorhome rental operator in the world, with a fleet of ~3,700 motorhomes designed to meet the needs of the free independent traveller (FIT) market.
In this interview, CEO Grant Webster discusses the impact on demand from a weaker NZ$, the rationale behind the acquisition of a UK-based business and the results of a recent strategic review. THL has undertaken a classic industry consolidation by buying two key competitors, right-sizing the fleet and reducing operating costs. It is now on track to achieve an acceptable ROCE of 14% by FY16, which will enable it to shift its focus from recovery to growth mode. Future growth initiatives include increasing the level of engagement with the customer.
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16/09/2015 | Tourism Holdings