Core Viewpoint - 180 Life Sciences Corp. (d/b/a ETHZilla) is focusing on increasing its Ethereum (ETH) holdings through a recent $156 million convertible notes offering, which is part of its broader ETH treasury strategy [1][2][6] Group 1: Financing and Strategy - The company has closed a $425 million private placement and subsequently sold approximately $156 million in senior secured convertible notes due 2028 [1][2] - Proceeds from the convertible notes will primarily be used to purchase more ETH and support the company's ETH treasury strategy [2][3] - The convertible notes will not accrue interest for the first six months and will have a 4% annual interest rate thereafter, maturing three years from the issuance date [2] Group 2: Company Operations and Future Plans - The company aims to rebrand as ETHZilla Corporation and establish itself as a leader in on-chain treasury management among public companies [6] - A significant portion of the company's operations will focus on becoming an ETH accumulation vehicle, designed to provide community access to the Ethereum network [7] - The company plans to implement a differentiated yield generation program in partnership with Electric Capital, aiming to outperform traditional ETH staking [7] Group 3: Legal and Advisory Support - Clear Street LLC acted as the financial advisor and exclusive placement agent for the convertible notes offering, while The Loev Law Firm, PC and Reed Smith LLP provided legal advice to the company [4]

Company Performance - Flutter's Q2 2025 earnings were discussed [1] - Full year guidance was raised [1] Business Growth - iGaming experienced growth [1] - International business showed strength [1]

Core Insights - Expanse Studios has formed a content partnership with Bragg Gaming Group to enhance the distribution of its iGaming content across over 30 regulated markets globally, including the U.S., Canada, Latin America, and Europe [1][2] Company Overview - Expanse Studios specializes in B2B iGaming content, offering a diverse portfolio of over 55 proprietary games, including slots, crash games, and table games [2][5] - Bragg Gaming Group is a leading provider of iGaming content and platform technology, with a portfolio that includes proprietary and exclusive casino titles distributed via the Bragg HUB platform [6] Strategic Importance - The partnership is viewed as a strategic milestone for Expanse Studios, aimed at scaling rapidly in the U.S. and European markets, leveraging Bragg's powerful distribution network [3][4] - The collaboration is expected to create synergies by combining Expanse Studios' high-quality content with Bragg's extensive distribution capabilities, enhancing global reach and offering operators a broader range of engaging iGaming experiences [2][3] Market Focus - The U.S. market is highlighted as a key focus area for Bragg's continued expansion in 2025, with expectations for a positive reception of Expanse Studios' content, particularly its crash games [4]

Core Insights - Expanse Studios, a division of Golden Matrix Group Inc., has received certification for its game Super Heli from Croatia's Ministry of Finance, marking a significant entry into the Croatian market [1][2] - The Croatian gambling market generated US$484.70 million in 2024, with a projected CAGR of 8.4% from 2024 to 2030, indicating strong growth potential for B2B gaming suppliers [2][3] - The certification enhances Expanse Studios' European presence, allowing it to leverage its portfolio of 56 proprietary titles and over 500 B2B partners to capture market share in the EU [3][4] Market Opportunity - Croatia's Online Casinos segment is projected to reach US$218.10 million in 2024, contributing to the overall gambling market expected to reach €720.42 million by 2025 [2][3] - The regulatory framework in Croatia favors established B2B providers, creating high barriers to entry for new competitors and positioning certified suppliers like Expanse as essential partners for operators [4] Company Overview - Golden Matrix Group is a B2B and B2C gaming technology company based in Las Vegas, operating across multiple international markets and developing proprietary gaming platforms [5] - Expanse Studios, founded in 2017, specializes in B2B iGaming content, offering a diverse portfolio of 55 proprietary games tailored for regulated markets [6]

Financial Performance - MGM Resorts International 的股票上涨，原因是该公司及其在伦敦上市的 Entain 公司提高了他们共同拥有的 BetMGM 体育博彩和 iGaming 运营商的全年展望 [1]

Core Viewpoint - Apple iSports Group, Inc. has signed a non-binding Letter of Intent to acquire AmeriCrew Inc., which aligns with its strategic growth plans in the entertainment, media, and iGaming sectors [1][3][7]. Strategic and Financial Rationale - The acquisition supports Apple iSports' goals by securing valuable assets and recurring revenue streams, positioning the company as a leading player in the U.S. sports, media, and entertainment landscape [3][4]. - The strategic combination aims to address infrastructure and connectivity gaps in the digital landscape, enhancing high-speed access to content and empowering athletes and content creators [4][5]. Management Insights - Kelley Dunne, CEO of AmeriCrew, emphasized that Apple iSports has the necessary skills for acquisition, including experienced management and growth opportunities in the gaming and entertainment sectors [5]. - Joe Martinez, Chairman and CEO of Apple iSports, expressed excitement about the acquisition, highlighting the combined strengths and potential for success in the rapidly growing markets [5][7]. Transaction Details - The acquisition is expected to close in the third quarter of 2025, pending regulatory approvals and shareholder consent [7]. - AmeriCrew will continue to operate under its brand, led by its current CEO, and the purchase price will be a combination of cash and Apple iSports common stock [7]. About AmeriCrew - AmeriCrew focuses on providing infrastructure services, including fiber deployment and clean energy solutions, and aims to reduce latency and enhance security in broadband connections [8][13]. - The company is recognized for its innovative contributions to telecommunications, particularly in deploying advanced wireless networks [9][12].

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]

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.

Financial Data and Key Metrics Changes - Group revenue increased by 8% year over year, with net income growing by 289% and adjusted EBITDA rising by 20% [19][20][29] - Earnings per share increased to $1.57 from a loss of $1.1, with adjusted earnings per share up by 51% [20] - Net cash from operating activities reduced by 44%, and free cash flow decreased by 52% year over year [26] Business Line Data and Key Metrics Changes - U.S. revenue was 18% higher year over year, with sportsbook growth of 15% and iGaming growth of 32% [21][22] - International revenue was $2 billion, reflecting constant currency growth of 32%, driven by strong performance in SEA and CEE regions [22][23] - iGaming in India saw a remarkable year-over-year revenue growth of 45% [16][23] Market Data and Key Metrics Changes - SEA region experienced excellent growth of 14%, driven by 25% AMP growth [23] - UKI saw overall growth moderate to 2%, but iGaming growth remained strong at 9% [23] - CEE's strong growth of 15% was driven by performance in Georgia and Serbia [23] Company Strategy and Development Direction - The company is focused on scaling its U.S. business and leveraging its international operations for diversification [6][11] - The acquisition of SNAI in Italy is expected to enhance scale and operational benefits [14][17] - The company is excited about its outcome-based pricing technology, which aims to innovate across U.S. and international markets [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite potential economic pressures, citing historical performance during consumer pressure periods [7][11] - The company remains optimistic about long-term growth opportunities in the global regulated market [18] - Management highlighted the importance of net revenue growth as a key metric, emphasizing a disciplined approach to promotions and customer acquisition [57][63] Other Important Information - The company is committed to a share repurchase program, expecting to return approximately $1 billion to shareholders during 2025 [28] - The acquisition of Snai is expected to generate synergies of €70 million over three years [48] - The company is monitoring developments in prediction markets and exploring opportunities in this space [10][86] Q&A Session Summary Question: Can you elaborate on the basketball-related factors affecting handle? - Management acknowledged some weakness in basketball handle but noted strength in NFL and MLB performance, indicating handle growth is in line with expectations [36][39] Question: How is iGaming performing compared to peers? - Management expressed satisfaction with iGaming performance, highlighting product delivery and unique content as key drivers [37] Question: What is the integration process for Snai? - Management is optimistic about the integration, expecting to realize synergies and operational benefits quickly [47] Question: How does the company view the impact of favorable sports results on guidance? - Management noted that while favorable results can impact cash balances, they remain confident in pricing and structural margin assumptions [87][88] Question: What are the strategic merits of bidding for the Italian Lotto? - Management highlighted the opportunity to cement leadership in Italy and the potential for digital growth in the lottery market [78][79] Question: Is there potential for maturity in U.S. states? - Management indicated that no states have reached maturity yet, with ongoing growth expected in existing states [95]