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Discover Latest #Crown News, Articles and Videos with Contenting
- ABC News Crown is an Australian-based gaming company that produces and operates a variety of casino and resort properties across Australia and Asia. Crown is one of the largest gaming companies in the world and is owned by billionaire James Packer. ABC News has covered Crown extensively and provides a variety of news stories, articles and videos related to the company. This includes news about the various casino and resort properties owned by the company, legal issues related to the company, as well as news about the company's financial performance. ABC News also covers the company's philanthropic efforts and its involvement in the community.
Best Social Casinos in the US 2025 with Real Money Prizes - ForexTV
Social casinos have revolutionized online gaming by offering a legal way for US players to enjoy casino-style games with the potential to win real prizes. sweepstakescasino.net has listed the top 10 Social Casinos in The US.New York City, April 29, 2025 (GLOBE NEWSWIRE) -- New York City, April 29, 2025 (GLOBE NEWSWIRE) – Unlike traditional online casinos, social casinos use a sweepstakes model that complies with US regulations while still providing an authentic gaming experience. This comprehensive guide examines the top social casinos available to US players in 2025. What Are Social Casinos? Social casinos operate on a dual-currency system that typically includes: Gold Coins or play money (purchased or received free) used for entertainment onlySweepstakes Coins (usually called Sweeps Coins, Fortune Coins, etc.) that can be redeemed for real prizes This model allows players to enjoy casino games without direct gambling, as sweepstakes coins are technically free and obtained through no-purchase methods or as bonuses with gold coin purchases. Top Social Casinos in the US according to sweepstakescasino.net 1. Fortune Coins Fortune Coins is a standout among social casinos. Known for its exciting gameplay, it combines slots and table games with real money rewards. The platform offers a simple yet fun gaming experience, with a variety of slots and casino-style games that appeal to a broad range of players. Games: Slots, table games, pokerReal Money Rewards: Yes, with regular prize eventsBonuses: Daily bonuses and special promotionsPlatform: Available on both mobile and desktop Why it’s great: Fortune Coins is perfect for players who enjoy traditional casino games but with a social twist. The ability to win real money adds an exciting edge to the casual experience, and the rewards system keeps things interesting. 2. WOW WOW is an engaging social casino that offers a wide selection of games with the added benefit of real money prizes. Its user-friendly interface and variety of game types make it accessible to players of all skill levels. Games: Slots, blackjack, pokerReal Money Rewards: Available through in-app purchases and prize poolsBonuses: Free coins, daily login bonusesPlatform: iOS and Android apps Why it’s great: WOW stands out for its simple approach to social gaming and the consistent opportunities for players to win cash prizes. It’s a great choice for those looking for a fun, casual experience with the chance to earn real rewards. 3. Jackpota Jackpota delivers on the promise of social gaming with its wide variety of slots and scratch card games. It offers a smooth, immersive experience, and its real money prize system makes it one of the top choices for US players. Games: Slots, scratch cardsReal Money Rewards: Yes, with various prize poolsBonuses: Daily spins, jackpot chancesPlatform: Available for iOS and Android Why it’s great: Jackpota offers a fresh spin on social gaming with its engaging jackpot system. Players can enjoy a great variety of games and win real money prizes, making it a solid option for social casino enthusiasts. 4. DingDingDing DingDingDing brings the excitement of Vegas-style slots and table games into the social casino space. It’s designed to offer a high-quality gaming experience with the added bonus of real money prizes. Games: Slots, poker, blackjackReal Money Rewards: Yes, with progressive jackpotsBonuses: Daily challenges, free spinsPlatform: Mobile and desktop access Why it’s great: With its attractive jackpots and engaging game variety, DingDingDing keeps players coming back for more. The platform's clean design and regular prize opportunities make it a top contender in the US market. 5. Sportzino Sportzino is more than just a social casino—it combines the best elements of sports betting with traditional casino games. For players in the US, it offers a thrilling combination of slot machines and virtual sports betting. Games: Slots, virtual sports, table gamesReal Money Rewards: Yes, available through game winnings and bettingBonuses: Free bets, game-specific promotionsPlatform: iOS, Android, and web Why it’s great: Sportzino’s hybrid format makes it appealing to those who love both casino games and sports betting. The option to win real money from both types of games sets it apart from typical social casinos. 6. Crown Coins Casino Crown Coins Casino offers a top-tier social gaming experience with the chance to win real cash. Its wide range of games includes slots, poker, and table games, all accessible with the swipe of a finger. Games: Slots, poker, blackjackReal Money Rewards: Yes, with regular events and prize poolsBonuses: Welcome bonuses, spin rewardsPlatform: Mobile, web-based access Why it’s great: Crown Coins is known for its sleek interface and variety of game types. The ability to win real money through its rewards system makes it a great choice for players who enjoy both the social and gambling aspects of casinos. 7. Real Prize Real Prize is all about offering players a chance to win big through fun and easy-to-play casino games. The platform features slots and other popular games, with a focus on real money rewards for consistent players. Games: Slots, bingo, table gamesReal Money Rewards: Yes, with cash prizes and bonus eventsBonuses: Daily spins, reward levelsPlatform: Mobile apps and web access Why it’s great: Real Prize makes winning real money accessible and fun. Its variety of game types and simple mechanics mean that even beginners can get in on the action without any hassle. 8. Spree Spree offers a lively social casino experience, featuring a selection of slots and casual casino games. It stands out for its user-friendly design and social interaction elements that keep players engaged. Games: Slots, card gamesReal Money Rewards: Yes, with prize draws and jackpotsBonuses: VIP bonuses, daily rewardsPlatform: Available for mobile devices Why it’s great: Spree is a fun platform that emphasizes social interaction while offering players a chance to win real cash prizes. It’s a great option for players who want to enjoy both the social aspect and the excitement of real money gaming. 9. High5 High5 is a unique social casino that focuses on both the enjoyment of games and the potential to win real money prizes. It offers a mix of slot games and interactive features that make the gaming experience fun and rewarding. Games: Slots, video pokerReal Money Rewards: Yes, with frequent prize eventsBonuses: Free spins, bonus roundsPlatform: Web-based, mobile apps Why it’s great: High5 is great for players who want to mix casual gaming with the excitement of real money rewards. Its blend of slots and poker makes it a versatile choice for social gamers. 10. MegaBonanza MegaBonanza offers an exciting collection of slots, table games, and other casino games, all with a focus on offering real money prizes to lucky players. It’s known for its big jackpot prizes and rewarding bonus system. Games: Slots, table gamesReal Money Rewards: Yes, with large jackpotsBonuses: Daily challenges, progressive jackpotsPlatform: Mobile and web Why it’s great: MegaBonanza delivers on its promise of massive payouts and exciting jackpots. It’s a solid choice for players who enjoy the chance to win big while having fun in a social casino environment. How to Choose the Right Social Casino When selecting a social casino, consider these factors: Game variety - Does the platform offer your preferred game types?Bonus structure - How generous are the initial and ongoing bonuses?Redemption process - How efficient and transparent is the verification and payout system?Platform performance - Does the site or app run smoothly on your devices?Security measures - What protections are in place for your personal and financial information? Most social casinos offer no-purchase registration bonuses, making it possible to try multiple platforms before committing to one as your primary gaming destination. Legal Considerations for US Players Social casinos operate legally in most US states (excluding Washington, Idaho, and Michigan for some platforms) by using the sweepstakes model rather than direct gambling. However, regulations continue to evolve, so players should verify current legal status in their specific location. Key legal aspects include: Players must be 18+ (some platforms require 21+)Alternative methods of entry (mail-in options) must be available by lawRedemption processes require identity verification to prevent fraudTerms and conditions specifically outline the no-purchase-necessary aspect Final Thoughts Social casinos provide a legal alternative to traditional online gambling for US players while still offering the excitement of real prizes. Each platform discussed offers unique strengths catering to different player preferences, from game selection to redemption efficiency. Whether you're drawn to Fortune Coins' comprehensive experience, WOW Vegas's impressive bonuses, or the specialized focus of platforms like Jackpota and Sportzino, today's social casino landscape offers compelling options for every type of player. By understanding how these platforms operate and what distinguishes each from the others, you can make an informed choice about where to invest your time and potentially earn real rewards through legitimate sweepstakes play. Contact Information for Sweepstakescasino.net You can reach their customer support team via email at: contact@sweepstakescasino.net How We Rate Casinos Sweepstakescasino.net strives to be a trusted source for honest and unbiased online casino reviews. Our team of experienced gambling professionals conducts in-depth assessments of each casino site. Ratings are determined using a proprietary evaluation system that considers factors such as trustworthiness, fairness, game variety, customer support, payment methods, fees, and more. Affiliate Disclosure This website features affiliate links, meaning we may receive a commission if you click on a casino link and make a deposit—at no extra cost to you. These partnerships do not influence the bonus offers or the integrity of the information we provide. Our priority is to deliver impartial reviews and reliable insights to help you make informed decisions about online gambling. Responsible Gambling Gambling should always be a form of entertainment, not a financial strategy. It can become addictive and negatively impact your life, relationships, and financial well-being. We strongly encourage responsible play and recommend taking a break if gambling stops being enjoyable. If you recognize signs of problem gambling, don’t hesitate to reach out and seek professional help. CONTACT: contact@sweepstakescasino.net
NIP Group Inc. Reports Second Half and Full Year 2024 Unaudited Financial Results - ForexTV
Event Production Net Revenues Up 92.6% YoY to US$14.6M in the Second Half of 2024Integrated Digital Entertainment Ecosystem Sets the Stage for Revenue Diversification and Growth ABU DHABI, United Arab Emirates, April 30, 2025 (GLOBE NEWSWIRE) -- NIP Group Inc. (“NIPG” or the “Company”) (NASDAQ: NIPG), a leading digital entertainment company, today announced its unaudited financial results for the second half and full year of 2024. Second Half of 2024 Financial and Operational Highlights Total net revenues for the second half of 2024 increased by 1.8% year-over-year to US$45.9 million, led by a 92.6% year-over-year increase in net revenues from event production.Gross profit for the second half of 2024 was US$0.6 million, compared with US$4.9 million in the same period of 2023.Net loss for the second half of 2024 was US$8.0 million, compared with net loss of US$2.0 million in the same period of 2023.Adjusted EBITDA for the second half of 2024 was negative US$7.3 million, compared with US$1.0 million in the same period of 2023. Full Year of 2024 Financial and Operational Highlights Total net revenues for the full year of 2024 increased by 1.9% year-over-year to US$85.3 million, led by a 147.5% year-over-year increase in net revenues from event production.Gross profit for the full year of 2024 was US$3.0 million, compared with US$7.2 million in 2023.Net loss for the full year of 2024 was US$12.7 million, compared with net loss of US$13.3 million in 2023.Adjusted EBITDA for the full year of 2024 was negative US$9.9 million, compared with negative US$1.7 million in 2023. Business Updates Expanded our esports portfolio through a strategic partnership with The9 Limited in November 2024 to transform “MIR M” into a competitive global esports title.Entered the MOBA game publishing market with the open beta launch of our first sci‑fi title, “Re: Aetatis,” in December 2024.Secured a five-year landmark agreement with the Abu Dhabi Investment Office in January 2025 to establish the Company’s consolidated global headquarters in Abu Dhabi.Formed a strategic collaboration with Optics Valley Traffic Company in February 2025 to co‑develop a cutting‑edge digital entertainment hub beneath Wuhan East Railway Station.Renewed our partnership with Red Bull in March 2025 to drive new content creation, fan engagement, and operational stability across our Ninjas in Pyjamas teams.Joined the Esports World Cup Foundation Club Partner Program in March 2025, securing funding and global exposure ahead of EWC 2025. Mario Ho, Chairman and Co-CEO of NIP Group, commented, "2024 tested the entire industry. Despite this challenging backdrop, we maintained modest top‑line growth in the second half and for the full year, highlighting the resilience of our model. As we continue to integrate our businesses and diversify our revenue streams, event production has become a compelling growth engine, with revenues surging 92.6% year-over-year in the second half of the year and more than doubling for the full year. We are transitioning from a pure esports organization into a fully integrated gaming‑centric digital entertainment platform. Looking ahead, we plan to expand our three core businesses, while also introducing new games and entering the hospitality market, opening our first S-tier integrated gaming entertainment complex. With our growth initiatives in place, including our expansion in the Middle East with new strategic funding from ADIO, the Guangxi government, and the Esports World Cup Foundation, we are well positioned to drive sustainable growth in 2025 and beyond." Hicham Chahine, Co-CEO of NIP Group, commented, "Our entry into the Middle East is central to our geographic expansion and revenue diversification strategy, marking a once‑in‑a‑generation opportunity for gaming and esports. We now have global headquarters in Abu Dhabi and a landmark partnership with the Abu Dhabi Investment Office that will accelerate our growth across our gaming ecosystem. Separately, we are receiving valuable support from the Abu Dhabi Department of Culture and Tourism, including payroll subsidies as well as subsidized office and production facilities. By anchoring our strategic initiatives in Abu Dhabi, we are tapping into a vibrant, youthful market that is quickly emerging as the newest global gaming hub. With resources on the ground and our years of experience, we can empower local talent, foster grassroots ecosystems, and continue expanding our integrated platform that now spans esports teams, arenas & events, content & influencer networks, game publishing and hospitality. With our robust base in Abu Dhabi, we are laying the foundation for harnessing growth opportunities on a global stage. I'm confident that this region will drive our next wave of growth and cement NIP Group’s position as a global leader in digital entertainment.” Ben Li, CFO of NIP Group, added, "In the second half of 2024, our revenues reached US$45.9 million despite headwinds in esports sponsorships and advertising that impacted both our top line and margins. Our Talent Management arm remained largely stable while our Event Production segment continued to accelerate. We also incurred higher expenses during the period associated with our IPO and our entry into the game publishing space. Moving forward, these initiatives will support our strategic growth with a more diverse revenue mix and more integrated operations, combined with strategic funding partnerships that strengthen our foundation. We remain focused on generating long‑term shareholder value.” Second Half of 2024 Financial Results Total net revenues Total net revenues were US$45.9 million for the second half of 2024, a year-over-year increase of 1.8% from US$45.1 million in the same period of 2023. The following table sets forth a breakdown of the Company’s net revenues by business segments for the period indicated. For the Six Months Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Net revenues: Esports teams operation 11,80726.2 5,93712.9Talent management service 25,71457.0 25,37555.3Event production 7,58416.8 14,61031.8Total 45,105 100.0 45,922 100.0 Esports teams operation. Net revenues from esports teams operation during the second half of 2024 were US$5.9 million, representing a change of 49.7% from US$11.8 million in the same period of 2023. This change was primarily due to a decrease in sponsorships and advertising revenue, primarily related to the promotion budget adjustment of customers.Talent management service. Net revenues from talent management services were US$25.4 million during the second half of 2024, representing a change of 1.3% from US$25.7 million in the same period of 2023, reflecting the transitory impact of the Company’s migration from low-performance to high-performance online entertainment platforms.Event production. Net revenues from event production increased by 92.6% to US$14.6 million in the second half of 2024, from US$7.6 million in the same period of 2023. The increase was primarily driven by the Company hosting a higher number of events in 2024, due to improved integration of internal and external resources during the period. Cost of revenues Cost of revenues for the second half of 2024 was US$45.3 million, compared to US$40.2 million in the same period of 2023. The following table sets forth a breakdown of the Company’s cost of revenues by business segments for the periods indicated. For the Six Months Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Cost of revenues: Esports teams operation 7,70519.2 6,17413.6Talent management service 26,05164.8 25,94057.3Event production 6,44416.0 13,16129.1Total 40,200 100.0 45,275 100.0 Esports teams operation. Cost of revenues from esports teams operation for the second half of 2024 decreased by 19.9% to US$6.2 million, from US$7.7 million in the same period of 2023. The decline was primarily driven by a decrease in IP licensing fees paid to athletes under Ninjas in Pyjamas.Talent management service. Cost of revenues from talent management service for the second half of 2024 decreased by 0.4% to US$25.9 million, from US$26.1 million in the same period of 2023. The decrease was mainly due to the decline in livestreaming service fees paid to online entertainers.Event production. Cost of revenues from event production for the second half of 2024 increased by 104.2% to US$13.2 million from US$6.4 million in the same period of 2023. The increase reflects the increase in revenues recognized from the Company’s event production business. Gross profit Gross profit for the second half of 2024 was US$0.6 million, compared with US$4.9 million in the same period of 2023. Gross margin for the second half of 2024 was 1.4%, compared with 10.9% in the same period of 2023. The decrease in gross profit margin was mainly attributable to the decline in esports teams operation revenues. Esports teams operation. Gross loss from esports teams was US$0.2 million in the second half of 2024, compared with gross profit of US$4.1 million in the same period of 2023. Gross margin decreased to negative 4.0% in the second half of 2024 from 34.7% in the same period of 2023, primarily due to decreased revenue from sponsorships and advertising revenue together with IP licensing revenue.Talent management service. Gross loss from talent management service changed to US$0.6 million in the second half of 2024 from US$0.3 million in the same period of 2023. Gross margin was negative 2.2% in the second half of 2024, compared with negative 1.3% in the same period of 2023, primarily due to lower revenue coupled with relatively fixed talent amortization cost.Event production. Gross profit from event production increased to US$1.4 million in the second half of 2024, from US$1.1 million in the same period of 2023. Gross profit margin declined to 9.9% in the second half of 2024 from 15.0% in the same period of 2023, mainly due to new large-scale music events hosted by the Company in the second half of 2024 with lower average margins compared with the same period of the prior year. Selling and Marketing Expenses Selling and marketing expenses for the second half of 2024 were US$5.3 million, representing an increase of 92.7% from US$2.8 million in the same period of 2023. This was mainly attributable to an increase in marketing and promotion expenses for the game publishing business. General and Administrative ExpensesGeneral and administrative expenses for the second half of 2024 increased by 58.2% to US$7.1 million, from US$4.5 million in the same period of 2023. The increase was primarily due to an increase in professional service fees in relation to the initial public offering. Other income for the second half of 2024 was US$2.3 million, compared with other loss of US$0.03 million in the same period of 2023. The increase was primarily due to a one-off waiver of tournament league seat fee of US$0.9 million. Net loss for the second half of 2024 was US$8.0 million, compared with net loss of US$2.0 million in the same period of 2023. Adjusted EBITDA, which is calculated as net loss excluding interest expense, net, income tax (benefit) expense, depreciation and amortization, share-based compensation expenses and change in fair value of acquisition contingent consideration, was negative US$7.3 million for the second half of 2024, compared with US$1.0 million in the same period of 2023. Full Year of 2024 Financial Results Total net revenues Total net revenues were US$85.3 million for the full year of 2024, a year-over-year increase of 1.9% from US$83.7 million in 2023. The following table sets forth a breakdown of the Company’s net revenues by business segments for the period indicated. For the Year Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Net revenues: Esports teams operation 21,65625.9 14,71617.3Talent management service 52,61162.9 47,27855.4Event production 9,40111.2 23,27227.3Total 83,668 100.0 85,266 100.0 Esports teams operation. Net revenues from esports teams operation during the full year of 2024 were US$14.7 million, representing a change of 32.0% from US$21.7 million in 2023. This change was primarily due to a decrease in sponsorships and advertising revenue, primarily related to the promotion budget adjustment of customers. The change also reflects the transitory impact of the Company's shift from IP licensing revenue related to PC and Console games to league revenue share from mobile games.Talent management service. Net revenues from talent management services were US$47.3 million during the full year of 2024, representing a change of 10.1% from US$52.6 million in 2023, reflecting the transitory impact of the Company’s migration from low-performance to high-performance online entertainment platforms.Event production. Net revenues from event production increased by 147.5% to US$23.3 million in the full year of 2024, from US$9.4 million in 2023. The increase was primarily driven by the Company hosting a higher number of events in 2024, due to improved integration of internal and external resources during the period. Cost of revenues Cost of revenues for the full year of 2024 was US$82.3 million, compared to US$76.5 million in 2023. The following table sets forth a breakdown of the Company’s cost of revenues by business segments for the periods indicated. For the Year Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Cost of revenues: Esports teams operation 15,03719.7 12,19314.8Talent management service 53,43869.8 49,14459.7Event production 7,99510.5 20,91925.5Total 76,470 100.0 82,256 100.0 Esports teams operation. Cost of revenues from esports teams operation for the full year of 2024 decreased by 18.9% to US$12.2 million, from US$15.0 million in 2023. The decline was primarily driven by a decrease in IP licensing fees paid to athletes under Ninjas in Pyjamas.Talent management service. Cost of revenues from talent management service for the full year of 2024 decreased by 8.0% to US$49.1 million, from US$53.4 million in 2023. The decrease was mainly due to the decline in livestreaming service fees paid to online entertainers.Event production. Cost of revenues from event production for the full year of 2024 increased by 161.7% to US$20.9 million from US$8.0 million in 2023. The increase reflects the increase in revenues recognized from the Company’s event production business. Gross profit Gross profit for the full year of 2024 was US$3.0 million, compared with US$7.2 million in 2023. Gross margin for the full year of 2024 was 3.5%, compared with 8.6% in 2023. The decrease in gross profit margin was mainly attributable to decline in esports teams operation revenues. Esports teams operation. Gross profit from esports teams operation was US$2.5 million in the full year of 2024, compared with US$6.6 million in 2023. Gross margin decreased to 17.1% in the full year of 2024 from 30.6% in 2023, primarily due to decreased revenue from sponsorships and advertising revenue together with IP licensing revenue.Talent management service. Gross loss from talent management service changed to US$1.9 million in the full year of 2024 from US$0.8 million in 2023. Gross margin was negative 3.9% in the full year of 2024, compared with negative 1.6% in 2023, primarily due to lower revenue coupled with relatively fixed talent amortization cost.Event production. Gross profit from event production increased to US$2.4 million in the full year of 2024, from US$1.4 million in 2023. Gross margin was 10.1% in the full year of 2024, compared with 15.0% in 2023, mainly due to new large-scale music events hosted by the Company in 2024 with lower average margins compared with 2023. Selling and Marketing Expenses Selling and marketing expenses for the full year of 2024 were US$8.1 million, representing an increase of 23.6% from US$6.6 million in 2023. This was mainly attributable to an increase in marketing and promotion expenses for the game publishing business. General and Administrative ExpensesGeneral and administrative expenses for the full year of 2024 decreased by 22.9% to US$11.8 million, from US$15.3 million in 2023. The decrease was primarily due to a decline in share-based compensation expenses, as the shares under the Company’s share incentive plans were fully vested in the first half of 2023. Other income for the full year of 2024 was US$1.8 million, compared with other income of US$0.2 million in 2023. The increase was primarily due to a one-off waiver of tournament league seat fee of US$0.9 million. Net loss for the full year of 2024 was US$12.7 million, compared with a net loss of US$13.3 million in 2023. Adjusted EBITDA, which is calculated as net loss excluding interest expense, net, income tax (benefit) expense, depreciation and amortization, share-based compensation expenses and change in fair value of acquisition contingent consideration, was negative US$9.9 million for the full year of 2024, compared with negative US$1.7 million in 2023. Cash and cash equivalentsAs of December 31, 2024, the Company had cash and cash equivalents of US$9.6 million, compared with US$7.6 million as of December 31, 2023. Use of Non-GAAP Financial Measures Adjusted EBITDA is calculated as net loss excluding interest expense, net, income tax (benefit) expense, depreciation and amortization, share-based compensation expense and change in fair value of acquisition contingent consideration. The non-GAAP financial measure is presented to enhance investors’ overall understanding of financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to the most directly comparable GAAP financial measure. As non-GAAP financial measure has material limitations as an analytical metric and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure as a substitute for, or superior to, such metrics prepared in accordance with GAAP. The following table sets forth a breakdown of non-GAAP financial measures of the company for the periods indicated. For the Six Months Ended December 31, 2023 2024 US$ US$ (US$ in thousands, except for %)Net loss (1,987) (8,020)Add: Interest expense, net 305 197 Income tax benefits (383) (1,439)Depreciation and amortization(1) 3,217 2,350 Share-based compensation expense (135) - Change in fair value of acquisition contingent consideration - (394)Adjusted EBITDA 1,017 (7,306)Adjusted EBITDA margin(2) 2.3 (15.9) For the Year Ended December 31, 2023 2024 US$ US$ (US$ in thousands, except for %)Net loss (13,258) (12,685)Add: Interest expense, net 523 537 Income tax benefits (1,201) (2,370)Depreciation and amortization(1) 6,083 5,048 Share-based compensation expense 6,122 - Change in fair value of acquisition contingent consideration - (394)Adjusted EBITDA (1,731) (9,864)Adjusted EBITDA margin(2) (2.1) (11.6) Notes:(1) Primarily consists of depreciation related to property and equipment, as well as amortization related to intangible assets (2) Adjusted EBITDA as a percentage of revenues. Exchange Rate Information The functional currency of the company’s PRC subsidiaries is RMB, which is the local currency used by the subsidiaries to determine financial position and operation result. The functional currency of Ninjas in Pyjamas is SEK, which is the local currency used by the subsidiary to determine financial position and operation result. The Group’s financial statements are reported using U.S. Dollars (“$”). The results of operations and the consolidated statements of cash flows denominated in functional currency is translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in functional currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income (loss) included in consolidated statements of changes in equity (deficit). Gains or losses from foreign currency transactions are included in the results of operations. The following table outlines the currency exchange rates published by the Federal Reserve Board were used in unaudited condensed consolidated financial statements: As of December 31, 2023 December 31, 2024Balance sheet items, except for equity accounts RMB against $ 7.0999 7.2993SEK against $ 10.0506 11.0676 For the Six Months Ended December 31, 2023 2024Items in the statements of operation and comprehensive loss, and statements of cash flows RMB against $ 7.2077 7.1800SEK against $ 10.7494 10.6731 Recent Developments On November 26, 2024, NIP Group Inc. announced a strategic partnership with The9 Limited and its subsidiary China Crown Technology to develop “MIR M” into a global esports title. The collaboration covers in-game esports integration, tournament system development, and synchronized marketing, enabling NIPG to leverage its event production and social media strengths while diversifying its publishing pipeline.On December 20, 2024, NIP Group Inc. entered the MOBA game publishing market with the open beta launch of its sci-fi title “Re: Aetatis,” strengthening NIPG’s ecosystem and diversifying revenue streams.On January 21, 2025, NIP Group Inc. secured a five-year landmark agreement with the Abu Dhabi Investment Office to establish its consolidated global headquarters in Abu Dhabi. Backed by up to US$40 million in incentives over four years, this move accelerates its regional expansion.On February 11, 2025, NIP Group Inc. formed a strategic partnership with Optics Valley Traffic Company to co-develop a “4+N” digital entertainment hub beneath Wuhan East Railway Station. The project, anchored by live-stream facilities, influencer districts, esports training centers, and IP-based tournaments, cements Wuhan as a national esports innovation center and deepens NIPG’s footprint in central China.On March 12, 2025, NIP Group Inc.’s subsidiary Ninjas in Pyjamas renewed its partnership with Red Bull, integrating branded content, behind-the-scenes access, and joint activations such as the CS Summit, to enhance fan engagement, fortify brand equity, and stabilize recurring sponsorship revenues across its global esports teams.On March 17, 2025, NIP Group Inc. announced its inclusion in the Esports World Cup Foundation Club Partner Program, securing funding and elite-level exposure ahead of EWC 2025. This partnership enables NIP.eStar to field multiple rosters, leveraging NIPG’s combined legacy in PC, console, and mobile esports, and extends its global competitive reach into new markets. Conference Call The Company’s management team will hold a conference call at 7:00 A.M. U.S. Eastern Time on Wednesday, April 30, 2025 (3:00 P.M. Abu Dhabi Time on the same day) to discuss the financial results. Details for the conference call are as follows: Event Title:NIP Group Inc. Second Half and Full Year 2024 Earnings CallRegistration Link:https://register-conf.media-server.com/register/BIe5577432f0464227a33354d4e0532885 All participants must use the link provided above to complete the online registration process prior to the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call. A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.nipgroup.gg/. About NIP Group NIP Group (NASDAQ: NIPG) is a global digital entertainment company driving the evolution of gaming and esports. With a diversified ecosystem spanning esports teams, arenas and events, content and influencer networks, game publishing, and hospitality, we engage hundreds of millions of fans and create immersive entertainment experiences. Operating across Europe, the Middle East, Asia, and the Americas, we collaborate with leading gaming companies to push the boundaries of interactive entertainment and bring gaming to new audiences worldwide. Safe Harbor Statements This press release contains statements that constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Among other things, the business outlook and quotations from management in this press release, as well as NIP Group’s strategic and operational plans, contain forward-looking statements. NIP Group may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. All statements that are not historical or current facts, including but not limited to statements about NIP Group’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIP Group’s growth strategies; its future business development, results of operations and financial condition; its ability to maintain and enhance the recognition and reputation of its brand; developments in the relevant governmental laws, regulations, policies toward NIP Group’s industry; and general economic and business conditions globally and in the countries or regions where NIP Group has operations; and assumptions underlying or related to any of the foregoing. These statements are based on various assumptions, whether identified in this press release, and on the current expectations of NIP Group’s management and are not predictions of actual performance. NIP Group cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties. Further information regarding these and other risks is included in NIP Group’s filings with the SEC. There may be additional risks that NIP Group does not presently know or that NIP Group currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of NIP Group as of the date of this press release. Subsequent events and developments may cause those views to change. However, while NIP Group may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of NIP Group as of any date subsequent to the date of this press release. Except as may be required by law, NIP Group does not undertake any duty to update these forward-looking statements. For investor and media inquiries, please contact: NIP Group Inc.Investor Relations: ir@nipgroup.ggPublic Relations: pr@nipgroup.gg NIP GROUP INC.UNAUDITED CONSOLIDATED BALANCE SHEETS(In U.S. dollars, except for share and per share data, or otherwise noted) As of December 31,2023 December 31,2024 ASSETS Current assets: Cash and cash equivalents $7,594,601 $9,559,298Short-term investments - 2,995,607Accounts receivable, net 18,995,477 28,379,548Advance to suppliers 400,655 1,066,329Amounts due from related parties 269,817 896,177Prepaid expenses and other current assets, net 2,093,740 1,518,143Total current assets 29,354,290 44,415,102 Non-current assets: Property and equipment, net 2,917,525 3,043,272Intangible assets, net 133,969,114 127,981,521Right-of-use assets 2,124,481 1,965,772Goodwill 141,402,327 131,909,760Deferred tax assets 550,794 2,088,820Other non-current assets 3,521,024 1,162,119Total non-current assets 284,485,265 268,151,264 Total assets $313,839,555 $ 312,566,366 LIABILITIES Current liabilities: Short-term borrowings $5,324,019 $10,550,327Long-term borrowing, current portion 281,694 273,998Accounts payable 12,728,929 19,070,470Payable related to league tournaments rights, current 1,921,518 732,236Accrued expenses and other liabilities 6,106,258 6,527,390Deferred revenue 500,785 1,038,307Operating lease liabilities, current 644,858 768,955Amount due to related parties, current 1,270,663 1,372,808Total current liabilities 28,778,724 40,334,491 Non-current liabilities: Long-term borrowing, non-current 3,713,180 3,376,519Amount due to related party, non-current 131,017 131,017Payable related to league tournaments rights, non-current 2,342,940 1,546,701Operating lease liabilities, non-current 1,475,374 1,093,079Deferred tax liabilities 24,659,215 23,661,207Total non-current liabilities: 32,321,726 29,808,523 Total liabilities $61,100,450 $ 70,143,014 NIP GROUP INC. UNAUDITED CONSOLIDATED BALANCE SHEETS(In U.S. dollars, except for share and per share data, or otherwise noted) As of December 31,2023 December 31,2024 Commitments and contingencies MEZZANINE EQUITY Class A redeemable preferred shares $114,893,066 $- Class B redeemable preferred shares 16,766,736 - Class B-1 redeemable preferred shares 190,882,461 - Redeemable non-controlling interests - 2,958,555 Total mezzanine equity $322,542,263 $ 2,958,555 (DEFICIT) EQUITY: Ordinary Shares (US$0.0001 par value; 429,552,072 and nil shares authorized as of December 31, 2023 and 2024, respectively, 37,163,379 and nil issued and outstanding as of December 31, 2023 and 2024, respectively) $3,716 $- Class A Ordinary Shares (US$0.0001 par value; 461,995,682 shares authorized as of December 31, 2024, 75,392,253 issued and outstanding as of December 31, 2024) - 7,539 Class B Ordinary Shares (US$0.0001 par value; 38,004,318 shares authorized, issued and outstanding as of December 31, 2024) - 3,800 Subscription receivable (3,716) (3,808)Additional paid-in capital - 373,890,499 Statutory reserve 72,420 72,420 Accumulated deficit (80,300,893) (128,921,657)Accumulated other comprehensive income (loss) 5,425,370 (10,522,210)Total (deficit) equity attributable to the shareholders of NIP Group Inc. (74,803,103) 234,526,583 Non-controlling interests 4,999,945 4,938,214 Total (deficit) equity (69,803,158) 239,464,797 Total liabilities, mezzanine equity and equity (deficit) $313,839,555 $ 312,566,366 NIP GROUP INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In U.S. dollars, except for share and per share data, or otherwise noted) For the Six Months Ended December 31, 2023 2024 Net revenue - third parties $44,496,103 $45,163,796 Net revenue - related parties 608,902 758,038 Total net revenue 45,105,005 45,921,834 Cost of revenue - third parties (39,841,398) (45,092,830)Cost of revenue - related parties (358,433) (182,483)Total cost of revenue (40,199,831) (45,275,313)Gross profit 4,905,174 646,521 Operating expenses: Selling and marketing expenses (2,771,373) (5,340,461)General and administrative expenses (4,477,954) (7,084,114)Total operating expenses (7,249,327) (12,424,575) Operating loss (2,344,153) (11,778,054) Other income (expense): Other income, net 279,880 2,516,554 Interest expense, net (304,892) (196,993)Total other (expense) income, net (25,012) 2,319,561 Loss before income tax expenses (2,369,165) (9,458,493)Income tax benefits 382,640 1,438,727 Net loss (1,986,525) (8,019,766)Net income attributable to non-controlling interest 117,764 23,389 Net loss attributable to NIP Group Inc. (2,104,289) (8,043,155)Preferred shares redemption value accretion (31,084,334) - Net loss attributable to NIP Group Inc.'s shareholders (33,188,623) (8,043,155) Other comprehensive income (loss): Foreign currency translation (loss) income attributable to non-controlling interest, net of nil tax (5,238) 1,493 Foreign currency translation income (loss) attributable to ordinary shareholders, net of nil tax 3,964,784 (7,718,540)Total comprehensive income (loss) $1,973,021 $(15,736,813)Total comprehensive loss attributable to non-controlling interest 112,526 24,882 Total comprehensive income (loss) attributable to NIP Group Inc. 1,860,495 (15,761,695) Net loss per ordinary share Basic and Diluted (0.89) (0.08) Weighted average number of ordinary shares outstanding Basic and Diluted 37,163,379 104,155,063 NIP GROUP INC.UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In U.S. dollars, except for share and per share data, or otherwise noted) For the Year Ended December 31, 2023 2024 Net revenue - third parties $82,502,622 $84,056,642 Net revenue - related parties 1,165,819 1,209,664 Total net revenue 83,668,441 85,266,306 Cost of revenue - third parties (75,884,571) (81,909,050)Cost of revenue - related parties (585,184) (346,721)Total cost of revenue (76,469,755) (82,255,771)Gross profit 7,198,686 3,010,535 Operating expenses: Selling and marketing expenses (6,577,396) (8,130,777)General and administrative expenses (15,273,231) (11,768,315)Total operating expenses (21,850,627) (19,899,092) Operating loss (14,651,941) (16,888,557 ) Other income (expense): Other income, net 716,554 2,370,956 Interest expense, net (523,317) (537,479)Total other income, net 193,237 1,833,477 Loss before income tax expenses (14,458,704) (15,055,080)Income tax benefits 1,200,855 2,369,759 Net loss (13,257,849) (12,685,321)Net income attributable to non-controlling interest 180 4,464 Net loss attributable to NIP Group Inc. (13,258,029) (12,689,785)Preferred shares redemption value accretion (43,914,707) (35,930,979)Net loss attributable to NIP Group Inc.'s shareholders (57,172,736) (48,620,764) Other comprehensive income (loss): Foreign currency translation (loss) income attributable to non-controlling interest, net of nil tax (1) 1,628 Foreign currency translation income (loss) attributable to ordinary shareholders, net of nil tax 5,253,255 (15,947,580)Total comprehensive loss $(8,004,595) $ (28,631,273)Total comprehensive income attributable to non-controlling interest 179 6,092 Total comprehensive loss attributable to NIP Group Inc. (8,004,774) (28,637,365) Net loss per ordinary share Basic and Diluted (1.54) (0.69) Weighted average number of ordinary shares outstanding Basic and Diluted 37,160,593 70,200,374
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates DNB, COLB, KRON on Behalf of Shareholders - ForexTV
NEW YORK, May 03, 2025 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Dun & Bradstreet Holdings, Inc. (NYSE: DNB)’s sale to Clearlake Capital Group, L.P. for $9.15 in cash per share. If you are a Dun & Bradstreet shareholder, click here to learn more about your legal rights and options. Columbia Banking System, Inc. (NASDAQ: COLB)’s merger with Pacific Premier Bancorp, Inc. Upon closing of the proposed transaction, Columbia shareholders will own approximately 70% of Columbia’s outstanding shares of common stock. If you are a Columbia shareholder, click here to learn more about your rights and options. Kronos Bio, Inc. (NASDAQ: KRON)’s sale to Concentra Biosciences, LLC for $0.57 in cash per share plus one non-tradeable contingent value right. If you are a Kronos shareholder, click here to learn more about your rights and options. Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information:Halper Sadeh LLCDaniel Sadeh, Esq.Zachary Halper, Esq.One World Trade Center85th FloorNew York, NY 10007(212) 763-0060sadeh@halpersadeh.comzhalper@halpersadeh.com https://www.halpersadeh.com
NKT A/S Q1 2025 Interim Report: 11% organic growth and EBITDA of EUR 81m - ForexTV
Company Announcement 9 May 2025Announcement No. 16 NKT A/S Q1 2025 Interim Report: 11% organic growth and EBITDA of EUR 81m NKT CEO Claes Westerlind says: - In Q1 2025, NKT continued the execution of high-voltage projects, and we delivered organic revenue growth of 11% and operational EBITDA of EUR 81m. We executed on our ongoing investments across production sites and announced the completion of the medium-voltage capacity expansions in Falun and Velke Mezirici. Additionally, in April we concluded Q1 negotiations and signed a supply agreement with Hydro, strengthening our European value chain and ensuring security of aluminium supply until 2033. These steps underscore our commitment to business excellence and our strategic focus on supporting the energy transition and enhancing value for both our customers and shareholders. Financial highlights EURmQ1 2025Q1 2024Revenue*630534Organic growth11%27%Operational EBITDA8175Operational EBITDA margin*12.9%14.1% * Std. metal prices Financial outlook for 2025The financial outlook remains unchanged from Company Announcement No.11 of 21 February 2025. Revenues (in std. metal prices) is expected to be approximately EUR 2.37-2.52bn and operational EBITDA is expected to be approx. EUR 330-380m. The financial outlook is based on several assumptions, including: Satisfactory execution of high-voltage investments and projects to deliver on expected profitability marginsSatisfactory operational execution across business linesStable market conditions for Applications and Service & AccessoriesNormalised offshore power cable repair work activityStable supply chain with limited disruptions and access to the required labour, materials, and servicesStable development in the global economy, foreign currency, and metal prices 11% organic growth and operational EBITDA of EUR 81mIn Q1 2025, NKT’s revenue (in std. metal prices) amounted to EUR 630m, an increase of EUR 96m compared to Q1 2024, corresponding to 11% organic growth. In Solutions, the growth was driven by high activity level and overall satisfactory project execution, while the increased revenue in Applications was mainly due to the acquisition of SolidAl in June 2024, and organic growth driven by additional medium-voltage production capacity. In Service & Accessories, revenue was below the level of Q1 2024, which included a large scope of offshore repair work on a legacy service agreement. Operational EBITDA increased to EUR 81m in Q1 2025 from EUR 75m in Q1 2024. The increase was driven by higher revenue. The operational EBITDA margin was 12.9% in Q1 2025, representing a decrease of 1.2 %-points compared to Q1 2024. All three business lines contributed to the increased operational EBITDA, while the decline in operational EBITDA-margin was mainly due to natural fluctuations in the project business. At end-Q1 2025, the high-voltage order backlog was EUR 10.7bn (EUR 9.4bn in std. metal prices) compared to EUR 10.6bn (EUR 9.3bn in std. metal prices) at end-Q4 2024. During the quarter, NKT supplemented its high-voltage order backlog with a number of relatively smaller orders, including variation orders to existing projects. Free cash flow amounted to EUR -308m in Q1 2025 driven by the ongoing investments and a negative contribution from changes in working capital due to the phasing between milestone payments and project execution in Solutions. At end-Q1 2025, NKT maintained a robust balance sheet, with net interest-bearing debt of EUR -953m. Execution of the high-voltage investment programme progressed as planned during Q1 2025. At the expansion of the site in Karlskrona, Sweden, several work streams were in intense execution phases and, among others, NKT progressed with work inside the new extrusion tower, construction of surrounding production buildings and installation of machinery. The new production capacity and the new cable-laying vessel, NKT Eleonora, are expected to be operational from 2027. Segment key financial highlights Q1 2025 Revenue*Operational EBITDAOp. EBITDA margin*EURmQ1 2025Q1 2024Q1 2025Q1 2024Q1 2025Q1 2024Solutions388321575214.7%16.2%Applications20315318168.9%10.5%Service & Accessories707413619.3%8.1%Eliminations between segments and non-allocated costs-31-14-71 NKT630534817512.9%14.1% *Std. Metal prices TeleconferenceNKT A/S hosts a teleconference for investors and financial analysts at 10:00am CEST on 9 May 2025. The presentation to be used during the call will be available before the start of the teleconference. To attend, please register and access on investors.nkt.com ContactsInvestorsJacob Johansen, Head of Investor Relations+45 2169 3591 / jacob.johansen@nkt.comPress Louise W. Naldal, Head of Group Communications+45 2982 0022 / louise.westh.naldal@nkt.com Attachments NKT_Q1_2025_Cover letter_ENG NKT Q1 2025 Interim report