PLGNF - InvestorNewsBreaks - Playgon Games Inc. (TSX.V: DEAL) (OTC: PLGNF) (FSE: 7CR) Releases Financial Operational Report for Q1 2024
Playgon Games (TSX.V: DEAL) (OTC: PLGNF) (FSE: 7CR), a propriety SaaS technology company delivering mobile-first live dealer technology to online gaming operators globally, is reporting on its financial and business results for the first quarter 2024. Notable numbers from the report, which cover the three-month period ending March 31, 2023, include revenues of $230,289 from its Live Dealer platform, a decrease of 20% quarter over quarter, and net loss of $4,489,773, which is an increase of 12% from the comparative quarter. The company noted in the report that there was a decrease in player activity due to an operator account ceasing its operations, which impacted revenue and Key Performance Indicators (“KPI’s”) for the quarter. Operational highlights for the quarter include total wagering turnover of $235 million compared to $336 million during the comparative quarter; the number of wagers placed (betspots) was 6.8 million wagers with the average daily turnover for the quarter reported at $2.6 million. The average bets size for the quarter was $59 and adjusted KPI’s, excluding the now-defunct operator, showed total and average daily wagering turnover increased by 65% with the number of wagers (betsports) up by 13%. The report also provided a summary of the company’s integration pipeline, with the successful completion of eight integrations with new customers and 10 integrations currently in progress and another 15 pending integrations. “Our business is still young, and when one of our top licensees ceases their operations, it can have an adverse effect on our revenue and KPI's,” said Playgon Games CEO Darcy Krogh in the press release. “We have a healthy and growing pipeline of new customers in both existing and new markets for which management is confident in the future success of its product in the live gaming market."
To view the full press release, visit https://ibn.fm/6yUuX
About Playgon Games Inc.
Playgon is a SaaS technology company focused on developing and licensing digital content for the growing iGaming market. The company provides a multitenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Playgon’s current software platform includes Live Dealer Casino, E-Table games and Daily Fantasy Sports, which, through a seamless integration at the operator level, allows customer access without having to share or compromise any sensitive customer data. As a true business-to-business digital content provider, Playgon products are ideal turnkey solutions for online casinos, sportsbook operators, land-based operators, media groups and big database companies. For more information about the company, please visit www.Playgon.com.
NOTE TO INVESTORS: The latest news and updates relating to PLGNF are available in the company’s newsroom at https://ibn.fm/PLGNF
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