IRVINE, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- Apple iSports Group, Inc. (OTC-QB: AAPI) ("Company" or "Apple iSports"), an entertainment, media, iGaming, and technology services company, is pleased to announce it has signed a non-binding Letter of Intent with AmeriCrew Inc., a Delaware corporation ("AmeriCrew"), a technology infrastructure and managed services company. Key Highlights Strategic and Financial Rationale Key The proposed acquisition shows Apple iSports' ability to follow through on its strate ...

Core Viewpoint - Flutter Entertainment has acquired a 56% stake in NSX Group, a Brazilian operator, for approximately $350 million, aligning with its strategy to invest in leading positions in attractive international markets [1][2][3] Group 1: Acquisition Details - The acquisition involves a cash payment of about $350 million and the contribution of Flutter's existing Betfair Brazil business [3] - The deal is expected to generate an additional $220 million in revenue and an adjusted EBITDA loss of $70 million in 2025 [2][4] - Flutter has established mechanisms for increasing its shareholding in NSX through reciprocal put/call arrangements in the fifth and tenth years post-completion [3] Group 2: Market Position and Strategy - The Brazilian online sports betting and iGaming market is characterized by a population exceeding 200 million, with a strong cultural affinity for sports, particularly soccer [6] - NSX has rapidly grown to become the fourth-largest operator in Brazil since its market entry in 2021, capturing a 9% market share by the end of 2023 [6][12] - The acquisition is expected to enhance Flutter's competitive position in Brazil and leverage its proprietary pricing and risk management capabilities to improve NSX's sportsbook offerings [6] Group 3: Financial Outlook - Flutter anticipates an increase in leverage due to the acquisition, but expects it to decrease over time as profitable growth opportunities materialize [4] - The company remains committed to maintaining a medium-term leverage ratio of 2.0-2.5x [4]

Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2025 was $83.5 million, a decrease from $88.1 million in Q1 2024, reflecting a 12% decline in social casino revenues and a 59% increase in iGaming revenues [6][12] - Adjusted EBITDA for Q1 2025 was $30.8 million, down from $32.7 million in the prior year, with an adjusted EBITDA margin of 36.9% compared to 37.1% in Q1 2024 [15][16] - Cash flow from operations increased to $41.1 million, up more than $5 million from Q1 2024 [7][16] - Profit excluding non-controlling interest was $23.9 million, or $9.65 per diluted share, compared to $30.3 million, or $12.24 per diluted share in Q1 2024 [15] Business Line Data and Key Metrics Changes - Social casino free-to-play games generated $17.3 million, while iGaming business Super Nation generated $13.2 million, marking the highest quarterly performance since its acquisition [6][9] - Average revenue per daily active user (ARPDAU) increased to $1.29 in Q1 2025 from $1.26 in Q1 2024, and payer conversion rate rose to 6.9% from 6.4% [12][8] - Direct-to-consumer revenue accounted for over 10% of social casino business, with a target to exceed 15% by 2025 [8][9] Market Data and Key Metrics Changes - Super Nation's revenue growth was driven by increased investments in new player acquisition, particularly in the UK and Sweden [9][23] - The company noted that the iGaming market presents significant opportunities for growth, especially in regulated European markets [9][10] Company Strategy and Development Direction - The company aims to maintain capital efficiency while focusing on product improvements and live operations enhancements to sustain its competitive position [17] - There is an ongoing strategy to explore potential acquisitions to diversify revenue and cash flow sources [10][17] - The company has decided not to launch a new match-three style game after extensive testing, emphasizing a cautious approach to new game development [10][48] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in achieving year-over-year growth in the social casino segment due to strong performance in the previous year [13] - The company expects to continue generating attractive free cash flow and strengthen its balance sheet while pursuing growth opportunities [18] - Management remains optimistic about the scalability and profitability of the iGaming business as it continues to grow [17] Other Important Information - The company switched its financial reporting from GAAP to IFRS starting Q4 2024, with minimal implications for financial statements [4][11] - Operating expenses for Q1 2025 were $53.9 million, down from $57 million in Q1 2024, reflecting lower R&D expenses and cost of revenue [14] Q&A Session Summary Question: Trends in Super Nation's markets and major sporting events - Management noted strong ROI from new player acquisition investments and expressed satisfaction with marketing spend in Q1 [23] Question: Update on M&A opportunities - The company continues to see a flow of opportunities in both iGaming and casual games, with no recent changes in interest [28] Question: Expectations for Super Nation's growth and sales/marketing spending - Management expects to maintain or increase investment levels in Super Nation, anticipating continued revenue growth [33] Question: Rate of decline in social casino business - Management indicated that the first half of the year presents tough comparisons, but expects easier comps in the second half [36] Question: User acquisition costs and competition from sweepstakes - Management acknowledged rising user acquisition costs due to competition but could not confirm player losses to sweepstakes [39]

Core Insights - The article emphasizes the investment philosophy focused on small cap companies, highlighting the importance of identifying mispriced securities through understanding financial drivers and utilizing DCF model valuation [1]. Group 1 - The investment strategy is not confined to traditional categories such as value, dividend, or growth investing, but rather considers all prospects of a stock to assess risk-to-reward [1].

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $42.7 million, representing a 72% year-over-year increase, with constant currency growth at 76% [8] - Gross profit reached $24.2 million, reflecting a gross margin of approximately 57%, a decline of 14 percentage points from the previous year [9] - Net loss was $300,000 or $0.00 per share, a decline of $4.2 million from the previous year [12] - Adjusted EBITDA declined by $300,000 or 5% to $5.6 million [12] - Cash and cash equivalents as of March 31, 2025, were $29.7 million, with a net debt leverage ratio under 1.6 turns [13] Business Line Data and Key Metrics Changes - The raffle business achieved record results, including all-time highs in revenue, ticket sales, and prize values, with a 46% increase in new users compared to Q1 2024 [6] - MeridianBet saw new registrations increase by 22%, first-time deposits surged over 56%, and total deposits rose 12% [15] Market Data and Key Metrics Changes - MeridianBet secured a permanent online betting license in Brazil, allowing full national coverage in a market projected to generate over $5.6 billion in GGR in 2025 [16] - The company launched B2B operations in Nigeria, tapping into a market with over 60 million bettors [16] Company Strategy and Development Direction - The company is focused on platform innovations and expansion into high-growth regulated markets, positioning itself at the forefront of the iGaming industry [5] - The strategy emphasizes smart growth, operational efficiency, and returning value to shareholders [20] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about growth opportunities for the year, expecting full-year revenue between $190 million and $195 million, representing a 26% to 29% growth rate over 2024 [21] - The company remains committed to disciplined capital allocation and investments that enhance growth and long-term value [21] Other Important Information - The company eliminated approximately $9.6 million in debt and converted over $9.5 million in acquisition-related debt into equity, enhancing financial strength and flexibility [6] - MeridianBet's community initiatives included 56 projects focused on health donations, scholarships, and responsible betting education [17] Q&A Session Summary Question: What are the growth expectations for the company in 2025? - The company expects full-year revenue to be between $190 million and $195 million, indicating a growth rate of 26% to 29% over 2024 [21] Question: How is the company addressing operational costs? - The increase in operating expenses is attributed to costs related to geographic expansion, market share improvement, and technology advancements [11]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $42.7 million, representing a 72% year-over-year increase, with constant currency growth at 76% [10] - Gross profit reached $24.2 million, reflecting a gross margin of approximately 57%, a decline of 14 percentage points compared to the previous year [11] - Net loss was $300,000 or $0.00 per share, a decline of $4.2 million from the previous year [14] - Adjusted EBITDA declined by $300,000 or 5% to $5.6 million [14] - As of March 31, 2025, cash and cash equivalents stood at $29.7 million, with a net debt leverage ratio under 1.6 turns [15] Business Line Data and Key Metrics Changes - The raffle business achieved record results, including all-time highs in revenue, ticket sales, and prize values, with 26,000 new users added, a 46% increase year-over-year [6] - MeridianBet saw new registrations increase by 22%, first-time deposits surged over 56%, and total deposits rose by 12% [17] Market Data and Key Metrics Changes - MeridianBet secured a permanent online betting license in Brazil, allowing full national coverage in a market projected to generate over $5.6 billion in GGR for 2025 [18] - The company launched B2B operations in Nigeria, tapping into a market with over 60 million bettors [19] Company Strategy and Development Direction - The company is focused on platform innovations and expansion into high-growth regulated markets, emphasizing operational efficiency and geographic diversity [5] - MeridianBet's strategy includes smart growth, operational excellence, and returning value to shareholders [22] - The company aims to enhance growth through disciplined capital allocation and investments [23] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about growth opportunities for the year, projecting full-year revenue between $190 million and $195 million, representing a 26% to 29% growth rate over 2024 [23] - The company is well-positioned for long-term success, emphasizing a commitment to profitable and sustainable growth [24] Other Important Information - The company eliminated approximately $9.6 million in debt and converted over $9.5 million in acquisition-related debt into equity, enhancing financial strength and flexibility [6] - MeridianBet completed five new integrations with a US-based sweepstakes casino, expanding its footprint in the North American market [20] Q&A Session Summary - No specific questions or answers were documented in the provided content, thus this section is not applicable.

Flutter Entertainment plc announces launch of third tranche of share repurchase program DUBLIN and TORONTO and NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment plc (“Flutter”) (NYSE:FLUT; LSE:FLTR), the world's leading online sports betting and iGaming operator, announces that it has entered into non-discretionary arrangements with Davy Securities Unlimited Company to repurchase ordinary shares on Flutter’s behalf for an aggregate maximum consideration of up to $225 million on the New York S ...

Flutter Entertainment (FLUT) Q1 2025 Earnings Call May 07, 2025 04:30 PM ET Company Participants Paul Tymms - Group Director - IR & FPAPeter Jackson - CEORob Coldrake - Chief Financial OfficerJed Kelly - Managing Director - Equity ResearchBen Shelley - DirectorClark Lampen - Managing DirectorMonique Pollard - Director - Equity ResearchBarry Jonas - Managing DirectorJohn Decree - Director - Equity ResearchAdrien de Saint Hilaire - DirectorRobin Farley - Managing Director Conference Call Participants Ed Young ...

Core Insights - Flutter Entertainment reported strong Q1 2025 financial results, with a year-over-year net income growth of 289% and adjusted EBITDA growth of 20% [7][40][34] - The company continues to expand its US operations, achieving a 15% growth in sportsbook revenue and a 32% growth in iGaming revenue despite adverse sports outcomes during March Madness [34][12] - Flutter's international segment also showed resilience, with a 1% revenue growth year-over-year, driven by strong performances in Southern Europe and Africa [22][35] Financial Performance - Q1 2025 adjusted EBITDA reached $161 million, significantly higher than the previous year, reflecting strong operating leverage [34] - Total revenue for the quarter was reported at $3.67 billion, with the US segment contributing $1.9 billion and the international segment contributing $2 billion [58][35] - The company expects 2025 revenue and adjusted EBITDA to reach $17.08 billion and $3.18 billion, representing year-over-year growth of 22% and 35% respectively [44][48] US Market Update - Flutter maintains a leading position in the US market with a 43% market share in sports betting and a 27% share in iGaming [12][34] - The average monthly players (AMPs) grew by 11% to over 4.3 million, indicating strong customer engagement [12] - Innovative features such as "Your Way" pricing capability and "Bet back tokens" have been launched to enhance customer experience and engagement [14][15] International Market Update - The acquisition of Snai in Italy is expected to enhance Flutter's scale in the European market, with integration already underway [23][11] - The Southern Europe & Africa (SEA) region reported a 14% revenue increase year-over-year, driven by strong market share growth [37][22] - The Central and Eastern Europe (CEE) region also showed robust growth, with a 15% revenue increase year-over-year [29] Strategic Outlook - Flutter's long-term growth strategy focuses on sustainable business practices and responsible gaming, with a commitment to invest in both organic growth and M&A opportunities [8][30] - The company is optimistic about navigating the evolving US regulatory landscape and expanding its market presence [20][21] - Flutter's diversified portfolio of brands positions it well to capitalize on the growing global online sports betting and iGaming market, projected to be worth approximately $368 billion by 2030 [8][57]

Flutter Entertainment Reports First Quarter 2025 Financial ResultsDUBLIN and TORONTO and NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- Flutter Entertainment (NYSE:FLUT; LSE:FLTR), the world's leading online sports betting and iGaming operator, announces Q1 results, and updates 2025 guidance. A letter to shareholders has also been published on the Group's website at www.flutter.com/investors Key financial highlights: In $ millions except where stated otherwiseThree months ended March 31,20252024YOY Average m ...