Jeffries: Dragon Train Lawsuit Won’t Hurt L&W
Gaming analysts at Jeffries have downplayed any negative effect for Light & Wonder (L&W) arising from its legal setback in the lawsuit by Aristocrat that resulted in a court order halting the sales of L&W”s Dragon Train slot.
“Our meetings with LNW since the 9/23 receipt of an injunction related to its Dragon Train games, through G2E this past week, support our conclusion that the issues are modestly financially impactful near term and not disruptive to the long-term earnings progression,” Jeffries wrote in an investor note. “We believe that the product momentum should otherwise continue and, therefore, that the prospects for double-digit EBITDA growth thru 2025 are reasonably high.”
Jeffries reiterated its “Buy” recommendation for L&W stock, with a price target of $122. It was $94.72 as of Oct. 17.
L&W Closes System Deals
Slot supplier Light & Wonder (L&W) announced notable new systems deals with three properties.
Casino Miami in Miami, Fla., has extended its contract with L&W to incorporate additional features such as Elite Bonusing Suite (EBS) and the EBS progressive system. The casino will also upgrade its current iVIEW mix to iVIEW PRO throughout the property.
Delaware Park Casino in Wilmington, Del. will upgrade its casino management system with a full suite of L&W solutions, including a SDS-CMP slot accounting and player tracking system upgrade and a floorwide iVIEW Pro upgrade.
Viejas Casino & Resort in San Diego, Calif. has chosen the L&W ENGAGE loyalty platform to power its casino floor. As part of this strategic upgrade, Viejas will modernize its core casino management system with a suite of advanced L&W systems products.
Route 66, Dancing Eagle Casinos Go Live with Player Elite System
Player Elite (PE), Australia’s leading provider of loyalty technology solutions for the casino gaming market, and The Hale Network (THN), exclusive distributor of PE in the U.S., have announced that they have completed the installation of the Player Elite Digital Loyalty Solution (DLS) at two of Laguna Development Corporation’s casino properties, Route 66 Casino and Dancing Eagle Casino.
The two New Mexico casinos are the first casino properties in the U.S. to install the Player Elite Digital Loyalty Solution. Both casinos also received the property-integrated ORCA omni-channel member app.
Player Elite’s DLS is an automated, real time customer marketing platform designed to identify, reward and communicate at an individual level to drive loyalty and profit through one interface.
GiG Enters Peru Market
Gaming Innovation Group (GiG) has been awarded an authorization and registration for Peru, officially allowing it to partner with operators based in the newly regulated Latin American market, as GiG continues to grow its regulated market presence with over 29 complex regulated markets now available globally, on its iGaming technology.
The accreditation process, which opened its doors earlier this year, marks an early entry for GiG that will allow it to serve a market expected to grow post regulation by up to 104 percent, up from €194 million to €397 million in gross gaming revenue (GGR) over the next three years, according to H2 Gambling Data.
GiG is continuing to expand its presence in global regulated markets, and across Latin America, with its innovative iGaming platform, as its powerful, secure, and scalable platform offers operators significant opportunities for exponential revenue growth, with a suite of dynamic localization features.
Relax Gaming Names Enrico Bradamante CGO
Internet gaming aggregator and supplier Relax Gaming has bolstered its leadership team with the appointment of Enrico Bradamante as chief growth officer.
With over 12 years of industry experience, Bradamante’s appointment reflects Relax Gaming’s ambition to further enhance its growth strategy across global markets.
Bradamante’s career has seen him serve as managing director at NetEnt and chief commercial officer at Aristocrat Interactive (formerly Pariplay). He is also the chairman and founder of iGEN (iGaming Executives Network).
In his new role at Relax, Bradamante will work closely with both the commercial team and other departments to identify growth opportunities and drive innovation across the organization.
Marker Trax appoints Russell Byrd as VP of Product
Cashless technology solution provider Marker Trax announced the hiring of Russell Byrd as new vice president of product.
A 30-year gaming and technology veteran, Byrd joins the company to oversee development and management of Marker Trax’s product portfolio, including the innovative B2C brand Moolah Play by Marker Trax.
With a proven track record in product development, monetization and strategic planning, Byrd has been instrumental in launching and optimizing product lines for major industry players, including Electronic Arts, Scientific Games and Aristocrat, successfully expanding digital product footprints, and leading implementation of groundbreaking customer features.
Before joining Marker Trax, Byrd led Aristocrat’s iGaming and B2B Social Casino divisions, where he managed the development and launch of over 100 digital titles and helped build a $20 million revenue stream in the first year of operations. He also played a pivotal role in establishing Aristocrat’s position in the regulated iGaming market across North America.
