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Playgon Files Financial Report for Q3 of 2023

Playgon, a leading and proprietary SaaS technology firm specializing in providing mobile-first live dealer tech to iGaming operators around the world, continues to demonstrate impressive results. This week, the British Columbia-based company issued its financial and operational report recapping its highlights for the third quarter that ended on September 30, 2023.

The supplier is devoted to creating and licensing online content for the iGaming sector, and it offers a multi-tenant gateway that allows operators to give customers cutting-edge iGaming software solutions. Its platform includes Live Dealer Casino, E-Table games and Daily Fantasy Sports, which, via a seamless integration, provides a secure customer experience.

Numbers and Key Points from Q3

For the quarter ending on September 30, 2023, the B.C. company reported revenues of CA$436,926 from its Live Dealer platform. This was a 38% increase over Q3 of 2022. Meanwhile, the net loss for the latest quarter was CA$3,940,02, which can be explained by the decrease in advertising, a bump in interest expense and bank charges, and a boost in salaries and benefits.

Revenue growth was supported by impressive results in several key performance indicators. For instance, wagering turnover for the quarter was CA$446 million in comparison to the CA$396 million from the previous quarter. The number of placed wagers in Q3 2023 was 9.3 million, which was, a decrease of 8.8% from the prior quarter, showing a seasonal cooldown.

In addition to that, the iGaming provider of live-dealer technology also disclosed an average daily wagering turnover for the three months ending on September 30, 2023, which was CA$4.88 million in comparison to the previous quarter with CA$4.4 million. This was a solid 11% improvement from the numbers reported in the previous quarter of the current calendar year.

CEO of the company Darcy Krogh shared that the firm saw a positive revenue expansion in Q3, which was supported by momentum in several KPIs. He added that management is poised that the firm is on the right path with its current business opportunities along with its imminent launch in Ontario and Latin America as the provider continues to expand globally.

Playgon announced that it will be officially joining Ontario’s regulated iGaming space for private operators and providers of tech in August 2023. Via its gaming-related supplier license from the Alcohol and Gaming Commission of Ontario, the firm is permitted to offer its proprietary services to other provincially licensed gambling operators in the jurisdiction.

Dropping New Proprietary Game

In the meantime, the B.C. live dealer technology supplier has been keeping itself busy in Q4 of 2023. This month, the company announced the launch of a new proprietary title named, Odds UP Roulette®. The new title is based on Single Zero Roulette rules and features two to five randomly generated Luck Numbers in each game round.

Source: “Playgon Reports Q3 2023 Financial HighlightsPlaygon Games, November 30, 2023

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Yolina has followed closely the latest development on the Canadian gaming scene over the past years, monitoring the land-based, lottery, and online offerings up for grabs. The dynamic nature of the local lottery and casino fields, as well as the opportunities lying ahead of Canada fire her enthusiasm for what is to come. A sports betting enthusiast, in her spare time Yolina could be found in her natural habitat – turning the pages of biographies and catching up on the latest stand-up comedy podcasts.