Core Insights - Codere Online reported record net gaming revenue of €224.1 million and Adjusted EBITDA of €13.8 million for FY 2025, indicating strong financial performance [1][4]. Financial Performance - For Q4 2025, net gaming revenue reached €60.7 million, a 15% increase compared to Q4 2024, with significant contributions from Mexico, where revenue grew by 31% [3][6]. - The average monthly active players increased to 177.2 thousand in Q4 2025, a 20% rise from the previous year, driven by a 43% increase in Mexico [3][4]. - Total revenue for Q4 2025 was €57.1 million, with a notable Adj. EBITDA of €6.7 million, up €4.8 million from Q4 2024 [6][11]. Regional Performance - In Spain, net gaming revenue for Q4 2025 was €24.5 million, a 7% increase year-over-year, while Mexico's net gaming revenue reached €32.8 million, marking a 31% increase [3][10]. - The "Other" category saw a decline in net gaming revenue, dropping 26% in Q4 2025 compared to the previous year [3][10]. Future Outlook - The company anticipates net gaming revenue for FY 2026 to be in the range of €235-245 million and Adjusted EBITDA between €15 million and €20 million [4][6]. - The management expressed optimism regarding growth trends in both Mexico and Spain, positioning the company well for future performance [4][6]. Recent Developments - Codere Online renewed its online gaming license in Colombia for five years, expiring in November 2030 [9]. - The company has repurchased 391 thousand shares for a total of $2.7 million under its share buyback plan [9].

Core Viewpoint - High Roller Technologies, Inc. has successfully closed a registered direct offering of 1,892,506 shares of common stock at a price of $13.21 per share, generating approximately $25 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The offering was conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) on November 12, 2025, and declared effective on December 2, 2025 [3]. - ThinkEquity acted as the sole placement agent for the offering [2]. Group 2: Use of Proceeds - The proceeds from the offering will be allocated towards sales and marketing, geographic expansion, product development and diversification, as well as working capital and general corporate purposes [2]. Group 3: Company Overview - High Roller Technologies, Inc. is a leading global online gaming operator known for its innovative casino brands, High Roller and Fruta, and is listed under the ticker ROLR on the NYSE [5]. - The company offers a real-money online casino platform featuring over 6,000 premium games from more than 90 leading game providers, catering to a global customer base [5]. - High Roller Technologies emphasizes innovation, performance, and a commitment to excellence in redefining market engagement [6].

Core Insights - High Roller Technologies has promoted Carlo Scappaticci to Chief Marketing Officer and hired Frances Cong as Director of Marketing, effective immediately [1][2][4] Group 1: Leadership Changes - Carlo Scappaticci's promotion is aimed at enhancing the company's marketing strategy, brand development, and customer engagement as it expands into new regulated markets [2][3] - Frances Cong's appointment as Director of Marketing is part of the company's strategy to strengthen its marketing capabilities [4] Group 2: Company Overview - High Roller Technologies operates premium online casino brands including High Roller, Fruta, and Kassuuu, and is listed on the NYSE under the ticker ROLR [5] - The company offers a user-friendly online casino platform with over 6,000 premium games from more than 90 leading game providers, catering to a global customer base [5] - High Roller Technologies is recognized as an award-winning operator in the rapidly expanding multi-billion iGaming industry [6]

Core Insights - High 5 Casino has been recognized as the leading online casino for PayPal payments in the U.S. for 2025, attributed to its secure payment system, fast redemptions, and user-friendly experience [3][20]. Payment Efficiency - PayPal has become a trusted digital payment platform for American players, enhancing the appeal of High 5 Casino due to its smooth transaction process [4]. - High 5 Casino offers some of the fastest PayPal payout times in the industry, which has significantly influenced player voting [7][11]. - The casino employs industry-leading technology to ensure transaction security and prevent fraud, reinforcing its position as a top PayPal casino [8]. Bonuses and Promotions - New players at High 5 Casino receive a bonus package that includes 250 Game Coins, 6 Sweeps Coins, and 600 Diamonds, with additional incentives for first-time PayPal users [9]. - Returning players using PayPal benefit from a variety of ongoing promotions, including daily login rewards and loyalty perks [10]. Game Variety - High 5 Casino boasts a diverse game catalog, featuring slots, table games, live dealer games, and specialty games, appealing to a wide range of player preferences [12][13]. - The casino collaborates with top software providers, primarily powered by its in-house provider, High 5 Games, ensuring a unique gaming experience [14]. Mobile Experience - High 5 Casino is optimized for mobile use, allowing players to make transactions and enjoy games seamlessly on their mobile devices [15][17]. - The mobile platform is designed for fast loading times and a responsive interface, enhancing the overall user experience [16]. Safety and Responsible Gaming - High 5 Casino prioritizes safety with robust security features for all transactions, including those made via PayPal [18]. - The casino promotes responsible gaming by offering tools for players to manage their gaming activity, such as purchase limits and self-exclusion options [19].

Core Insights - Century Casinos, Inc. has opened a new BetMGM retail sportsbook at Century Casino & Hotel Cape Girardeau, marking the launch of both retail and online sports betting in Missouri [1][3] - The sportsbook features a modern environment with high-definition screens, comfortable viewing areas, and various betting options on major sporting events [2][3] - The opening aligns with Century's strategy to expand its product offerings and enhance its market position in the newly established sports wagering landscape in Missouri [3] Company Overview - Century Casinos operates multiple casino properties across the United States, including locations in West Virginia, Maryland, Missouri, Colorado, and Nevada, as well as in Canada and Poland [6] - The company trades on The Nasdaq Capital Market under the symbol CNTY [7] BetMGM Overview - BetMGM is a leading sports betting and gaming entertainment company, formed through a partnership between MGM Resorts International and Entain Plc, providing access to MGM's U.S. sports betting and online gaming businesses [5]

Core Insights - MGM Resorts International has remained profitable, but long-term investors have not seen favorable returns compared to the S&P 500 [1] - Over the past one, three, and five years, MGM Resorts has significantly underperformed the S&P 500, suggesting that investors would have been better off with an index fund [2][5] - Despite past underperformance, there may still be potential for MGM Resorts to outperform in the future [3][7] Performance Comparison - MGM Resorts' performance over different timeframes compared to the S&P 500: - 1 Year: MGM -17.4%, S&P 500 +13.9% (Difference: -31.3 percentage points) [5] - 3 Years: MGM -15.3%, S&P 500 +72.4% (Difference: -87.7 percentage points) [5] - 5 Years: MGM +17.4%, S&P 500 +83.8% (Difference: -66.4 percentage points) [7] - The lack of dividends since 2022 exacerbates the total return difference when compared to the S&P 500 [5] Factors Behind Underperformance - Initial excitement around BetMGM, the online casino and sportsbook joint venture, drove stock prices up during the pandemic despite poor performance in land-based casinos [6] - As the market recognized that online gaming companies were far from profitability, enthusiasm waned, leading to a decline in MGM's stock price from 2022 onward [8] Recent Developments - MGM Resorts' revenue returned to pre-pandemic levels in 2022, aided by "revenge travel" trends, but concerns about future prospects have emerged for 2024 [9]

Company Overview - Expanse Studios is a fast-growing iGaming content developer and a subsidiary of Golden Matrix Group (NASDAQ: GMGI) [1] - The company specializes in B2B iGaming content, including slots, crash games, turn-based strategies, and card games [6] Product Portfolio - Expanse Studios has an expanding portfolio of 56 proprietary games, which includes crash-style formats, classic slots, card and table games, and turn-based strategies [2] - The games are designed for regulated markets, social gaming platforms, and emerging alternative casino models [2] Market Expansion - The company has recently expanded its North American presence through multiple integrations with next-gen U.S. gaming platforms [3] - Expanse Studios is experiencing growth in regulated jurisdictions, having been granted an iGaming license in Croatia and applied for a Class 2 iGaming license in Romania [3] Industry Event Participation - Expanse Studios will participate in the Global Gaming Expo (G2E) from October 6–9 at the Venetian Expo in Las Vegas, exhibiting at Booth 4233 [1][4] - The event serves as a platform for industry leaders, innovators, and regulators to explore the future of gaming [4] Networking and Partnerships - Attendees at G2E can meet the Expanse Studios team to demo new releases, explore partnership opportunities, and discuss the studio's global roadmap [5]