EGR Power 50 2020: 11-30

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11. DraftKings (26)

Jumping an impressive 15 spots from 12 months ago, DraftKings has made some significant moves in 2020, not least initiating the US trend of going public via a special purpose acquisition company (SPAC). Since its IPO in April and completing its acquisition of betting supplier SBTech, DraftKings’ share price has rocketed to the point where the eight-year-old operator has a market cap of around $20bn. The Boston-based firm’s monthly unique players reached one million in Q3, leading it to raise its 2020 revenue forecast to $540m-$560m, while cash reserves of $1.7bn provide the financial firepower to undertake an acquisition or two. DraftKings is on track to migrate from Kambi onto its SBTech sports platform in 2021, after which it will own all its technology stack. The firm is live in the most states of any US online gambling operator and will be one of the first to enter Michigan when the sports betting and gaming state goes live soon.

12. Fortuna Entertainment Group (14)

Fortuna Entertainment Group was established in 2009 and has since become the largest betting and gaming operator in Central Europe. Originally a Czech firm, it has grown into a holding company over time and now also operates in the Slovak, Polish, Romanian and Croatian markets. However, a focus on international expansion has seen Fortuna come under threat in Poland from domestic rival STS, which is now thought to boast a market share of 50%. While others fret over proprietary technology, Fortuna is fighting against that trend by proving that you can still be a major international player by building long-term relationships with suppliers. Playtech plays an integral part in the Fortuna customer journey, while the operator has also sewn up deals with marketing specialist Optimove and more slots suppliers than you could shake a stick at. However, Covid-19 was particularly tough on the firm due to its vast retail exposure.

13. Lottoland (18)

Lottoland has climbed five places this year after having diversified from disruptive lottery wagers into both online casino and online sports betting. The Gibraltar-based business launched an online sportsbook in partnership with technology supplier Altenar at the turn of the year, which has positively impacted revenue despite several months of sporting disruption due to Covid-19. Lottoland is an expert at attracting positive mainstream B2C press coverage, which is an increasing rarity for online gambling firms. The operator’s huge jackpots narrative often penetrates newspaper pages, despite its core business model being under regulatory threat in several jurisdictions. A split from its B2B division – now rebranded to ALOT Solutions – has allowed Lottoland to focus solely on real-money gaming and it is reaping the rewards. The hire of GVC’s Ciara Lally as chief legal and compliance officer in February added regulatory nous, while the operator’s portfolio of charitable initiatives are among the best in the sector.

14. BetVictor (11)

BetVictor is standing its ground in the ultra-competitive ‘best of the rest’ territory just outside the top 10 and is likely to remain there save for some transformational M&A activity. The elusive firm has dropped from 11th place last year due in part to the meteoric rise of US-based egaming operators like DraftKings, but it remains a key player in Europe and a leader in Asia. BetVictor’s most eye-catching strategic move this year saw it sign a major media deal with German tabloid newspaper giant Bild in October. The duo have joined forces to launch BildBet in the re-regulating German market. Management will be hoping the partnership works out much better than News UK’s failed Sun Bets venture did in the UK, but for now it looks a shrewd move and could give the firm an early advantage in what could well become Europe’s largest regulated betting market.

15. Betclic Everest Group (15)

Betclic holds steady in 15th place this year. The operator is colossal in its domestic French market, employing 550 people across Paris and Bordeaux. In October, CEO and founder Nicolas Béraud sent a clear statement of intent by igniting a major recruitment drive of 140 developers for tech-focused roles across mobile apps, cloud functionality, marketing and CRM. 2020 also saw the operator seal its biggest sponsorship deal to date after becoming the official betting partner of Ligue 1 and Ligue 2 for three seasons. Betclic Group’s Central Europe-facing sports betting subsidiary Bet-at-home reported flat revenue of €143.3m for 2019, although full-year 2020 figures are likely to have been damaged by Covid-19. Instead of pointing towards the coronavirus pandemic, Bet-at-home said “the loss of essential parts of the Swiss market and a significant decline in the Polish market” were behind a Q1 revenue dip of 13%.

16. Pinnacle (16)

Pinnacle is the exception rather than the rule in that it has managed to successfully operate separate B2C and B2B businesses since the launch of Pinnacle Solutions in 2018. Everyone in the industry knows about the operator’s high volume, low-margin B2C sportsbook model and expert pricing, but the B2B arm has become the go-to solution for operators entering esports due to its risk management expertise. CEO Paris Smith is not one to stand still on a B2C basis however, and the operator made a regulated return to Sweden in June before joining the country’s operator trade body BOS. Pinnacle has always been an attractive proposition for sharpies, but former Addison Global VP of marketing Ben Cove was hired as CMO in October to extend the operator’s appeal among recreational consumers. It remains to be seen how Curaçao’s move to form a gambling regulator will affect the operator, which is headquartered and licensed on the island, although Pinnacle supports the former Dutch colony’s ambitions, with Smith saying: “If it’s done right, it could be a very positive thing for the island.”

17. Hong Kong Jockey Club (17)

Despite a year of political turbulence in Hong Kong and the worldwide coronavirus pandemic, Hong Kong Jockey Club (HKJC) has largely been unaffected, holding 87 race meetings at a time when the rest of the world was in lockdown. At a divisional level, HKJC sports betting accounted for HK$12.5bn in revenue in H1 2020, with bets taken dropping to HK$92m as 3,273 football matches were cancelled due to the lockdown. However, results have been more encouraging in the period since the resumption of international sports. Coming into the final months of 2020, HKJC unveiled a new strategy aiming to bring customers online, launching its first e-wallet, and potentially an AI-powered customer service chatbot set to follow. With a “large portfolio” of online and on-course betting enhancements in the pipeline, 2021 is already shaping up to be very positive for this Hong Kong stalwart.

18. Playtech (22)

A third consecutive year in the Power 50 for Playtech, following its acquisition of Italian B2C brand Snaitech in 2018, has not come without its difficulties. The industry giant posted a 41% decrease in revenue to €253.5m from its B2C arm in its H1 2020 results, mainly thanks to the retail shutdown in Italy. However, online revenue for Snaitech and its Sun Bingo brand grew 37% and 61% respectively. Earlier this year, CEO Mor Weizer told EGR that following a review Playtech has committed itself to the German and Austrian markets with a renewed focus on its HPYBET brand, with Snaitech CEO Fabio Schiavolin set to take strategic oversight of the B2C brand. Playtech shares have now recovered to pre-coronavirus levels.

19. Tabcorp (25)

Tabcorp has endured a real rollercoaster of a year. The Australian wagering giant lost more than a A$100m in turnover when a smoke and likely fire incident at a third-party datacentre meant punters could not place a bet online for 28 hours during the Spring Racing Carnival, one of the biggest horseracing events on the Aussie sports calendar. To make matters worse, the operator’s IT and tech teams had been greatly reduced after Covid-19 ravaged the business for much of 2020, leading to 700 employees on furlough and a full-year revenue decline of 4.8% to £2.8bn. CEO David Attenborough, who has led the business for 10 years, will step down in H1 2021 and the operator’s wagering division could be primed for takeover, with Ladbrokes and private equity rumoured to be sniffing around. On the bright side, Tabcorp is now fully integrated with Tatts and has completed the rebrand of UBET to TAB.

20. Celton Manx (20)

SBOTOP, formerly known as SBOBET, came bouncing back into the industry’s collective consciousness this year after signing a sponsorship deal with Premier League newcomers Leeds United. The commercial deal granted the Celton Manx-owned brand instant exposure in the UK market, as well as overseas to its more lucrative Asian audience, where Premier League TV coverage is king. The Isle of Man-based firm is still run by online gambling veteran and executive director Bill Mummery, who decided to pull out of the UK market in 2014 following the implementation of a Point of Consumption tax model on UK gambling operators. Mummery now appears to have put the tax concerns behind him, with SBOTOP’s new UK site having re-entered the fray in partnership with TGP Europe Limited on a white-label basis. A non-mover this year at number 20.

21. STS Gaming Group (27)

STS is in an enviable financial position with “a very nice profit and big cash reserves on the balance sheet”, according to CEO Mateusz Juroszek. The operator has mopped up 50% of its domestic Polish market and was able to withstand the worst the coronavirus pandemic had to offer due to its prior investment in esports and virtual sports. A major negative was the inability to offer online casino when Covid-19 hit in Poland, while the bookmaker voluntarily shuttered 440 retail venues for up to two months. Despite the pandemic, 2020 has been a transformational year for this growing business. STS launched on its own UK licence at the turn of the year to move away from the white-label model and launched proprietary live betting software aimed at mobile bettors in Poland. The July acquisition of software provider Betsys will lead to further in-house technological improvements.

22. Rank Group (19)

In a year when Rank Group’s land-based casino venues have been severely hit by Covid-19 closures, the operator’s digital business has gone from strength to strength. Building on the success of its Grosvenor and Mecca operations in 2019, where NGR rose by double digits, full-year digital division revenue climbed 23% to £145.3m, offsetting a 32% decline in underlying operating profits. Acting decisively during the initial stages of the pandemic, Rank’s senior execs took a 20% pay cut, but the group’s financials were further buoyed by a decisive high court win on VAT, the sale of its remaining Belgian business to Kindred Group for £25m and more recently a £70m share rights issue. The company has just completed the first brand migration onto the Stride proprietary platform following Rank’s purchase of Stride Gaming in 2019 for £115m.

23. Betway (21)

If one was to look up the dictionary definition of sponsorship, one would probably find the word Betway. The online operator, founded in 2006, continues to remain one of the most recognisable names in the industry thanks to its slew of partnerships, including with Premier League outfit West Ham United. A sustained effort and concentration in the blossoming esports vertical with tournament sponsorships highlights the firm’s forward-thinking attitude. In December 2019, Betway signed up to a new streaming and data deal with At The Races, which accrued fees based on turnover rather than fixed costs. A spokesperson from Betway stated: “Despite the difficult trading conditions caused by Covid-19, we are happy to note that Betway is currently experiencing annual growth of around 10%.”

24. Tombola (24)

Online bingo leader tombola is the UK’s responsible gambling darling – and with good reason. While the rest of the UK industry frets over the review of the 2005 Gambling Act and the potential introduction of mandatory stake limits, tombola has been offering personalised stake limits to its players since April via the firm’s Safeplay interface. Tombola has been a shining light in RG terms for years now, although its Facebook-savvy, female-focused audience are admittedly lower spenders by nature. The operator is fiercely committed to its home city of Sunderland – its Tombola House headquarters on the south bank of the River Wear are regularly voted one of the best places to work in Britain. In October, tombola expanded its presence in Sunderland with another office at city’s Bonded Warehouse, creating another 30 jobs for locals. 2020 saw former Playtech B2C operations director Mark Henderson join the privately-owned firm as international MD.

25. 12BET (23)

12BET may not be the first name on the team sheet when it comes to the world’s biggest online sportsbooks, but this Asia-facing operator has continued to excel in that part of the globe. This year, 12BET went back to the so-called Black Country by building on its sponsorship deal with newly promoted Premier League side West Bromwich Albion as it became the club’s official sleeve partner for the 2020/21 season, cleverly staying clear of the inevitable scramble for Premier League club sponsorships that begins every season. Reflecting on 2020, 12BET’s Rory Anderson said: “It’s been a tough year for most businesses but we have managed to retain and even grow this year through comprehensive retention plans, quality service and strategic product integrations.”

26. Sisal (34)

It would be impossible to talk about Sisal in 2020 without first highlighting the recent EGR Italy Awards in October where the Milan-headquartered firm took home three highly coveted gongs. Edging out long-time Italy rival bet365 to win the sports betting operator of the year award, Sisal followed that success by winning mobile operator of the year. The crowning achievement, however, was when Sisal took home the prestigious operator of the year award from another of its Italian rivals, Eurobet. In a year punctuated by an international pandemic, Sisal’s progress up the Italian gambling tree has been largely sidelined to one of preserving its retail and online presence as company revenue dropped by 50% in the first half of the year. However, despite a challenging period, business since the restart has been very positive and with Sisal going live with the Turkish lottery concession in August, the green shoots of recovery are set to turn into the blooms of 2021.

27. Coingaming Group (28)

Crypto-first operator Coingaming Group finds itself comfortably nestled in the Power 50 for the third year in a row following major upheaval at the Tallinn-headquartered firm. Longstanding CEO Tim Heath stepped down from the top job to focus on his role as general partner at Coingaming’s venture capital arm, Yolo Investments, and was replaced by COO Maarja Pärt. Heath is set to remain on the board of directors. The group also secured two new Premier League sponsorships, in the form of Arsenal and Southampton with its Sportsbet.io brand, having previously served as Watford’s principal partner last season before the Hornets were relegated from the top-flight. Elsewhere, in September, Coingaming opened a new office complex spread across more than 3,700 sq m and housing 300 employees.

28. Superbet (45)

It has been a year of acquisition for Central and Eastern European operator Superbet as it ramped up its hiring and M&A efforts in 2020. The operator took a 60% stake in online casino operator Lucky7 in July, with Superbet expecting to enter three new markets within the next 12 months thanks to its purchase. On the people front, former William Hill trading chief Terry Pattinson joined the group as its new trading director in July while ex-Casumo exec John Harmander was unveiled as chief marketing officer in January. In October, Nikola Jellačić was hired as global director of brand strategy and growth from Google to be based in Zagreb, Croatia.

29. Svenska Spel (32)

Adapting to changes has become a virtual prerequisite for Svenska Spel over the last 12 months. Perhaps its biggest change this year has been dealing with the coronavirus pandemic, where Svenska Spel has had to think on its feet and act decisively, actions which have seen the firm furlough staff and close its flagship Casino Cosmopol property. The early stability of its Q1 2020 revenue has been replaced by successive quarters of financial decline, however those losses narrowed to 8% during Q3. The firm has also launched horseracing betting with PMU and a new variation of its popular Triss scratchcard game, so things are beginning to head in the right direction.

30. SKS365 Group (30)

Despite a turbulent year, SKS365 Group has been on an upward trajectory, which began with a full overhaul of its business and executive team and has seen the firm narrow its focus towards its flagship Italian market operations. A focus on harmonising its retail and online footprint has paid dividends for the Malta-based firm, which has seen its Planetwin365 brand strengthen its position in the Italian market and challenge the dominance of bet365, Snai and Sisal. With the opening of a new Rome office and the launch of a B2B payment solution, this push looks set to continue into 2021.