PlayAlberta, a legal online gambling platform in Alberta, Canada, has recently broadened its horizons by joining forces with BtoBet. This innovative collaboration emerges on the heels of a fruitful relationship between the Alberta Gaming, Liquor & Cannabis (AGLC) and NeoPollard Interactive, which saw the genesis of PlayAlberta’s gaming platform.
Evolving the Online Sportsbook Landscape
BtoBet’s contribution to the mix involves the provision of its fully managed sportsbook system, a move designed to bolster the expansion and evolution of PlayAlberta’s online sportsbook. The ambitious roadmap set by the partnership envisages a complete transition of PlayAlberta’s online sportsbook to BtoBet’s sportsbook and casino software by Q3 of 2023.
NeoGames, the force behind PlayAlberta’s online sportsbook, welcomes the partnership with enthusiasm. Tsachi Maimon, NeoGames’ President and Head of iGaming, expressed delight at the opportunity to enhance and expand PlayAlberta’s sports betting platform and services. The partnership promises betting offers, including exclusive deals for the Canadian Football League and special bets focusing on Canadian athletes.
Financial Performance of NeoGames
Despite the promising developments, NeoGames had to navigate through some financial challenges. The Q2 2023 report showed a financial loss of $7.8m for the quarter. Nevertheless, the company reported net sales of $48m.
A breakdown of the revenue data revealed gross revenue of $57m for NeoGames. However, the company experienced an operations loss of $9.1m, an improvement from the operations loss of $14.5m reported in Q2 2022. The silver lining in the financial report lies in NeoGames’ overall revenue for H1 2023, which at $97.4m, was three time higher than the revenue for H2 2022 that stood at $34.3m.
As PlayAlberta readies itself to navigate this captivating new era, it remains to be seen how the partnership with BtoBet will shape its future, and perhaps, the future of online sports betting in Alberta.
As PlayAlberta readies itself to navigate this captivating new era, it remains to be seen how the partnership with BtoBet will shape its future, and perhaps, the future of online sports gambling in Alberta.
BtoBet’s Growth Strategy
Despite the challenges posed by Covid-19, BtoBet managed to stay resilient and focus on its growth strategy. This strategy entailed expansion into new markets, such as Africa and Latin America. The company also made moves to capitalize on the growing demand for blockchain-based solutions such as crypto payments and launched its new product, NGS Blockchain.