IZI Finance plc Registers Record Gross Gaming Revenue Of €85.6M

Oct 24 2024

October 23rd, 2024, through a statutory company announcement, the Board of Directors of IZI Finance plc, announced the audited financial results of the Group for FY2024, highlighting a year of remarkable financial performance and strategic success, across all its business activities.

The Group, which is the principal land-based gaming operator in Malta operating the National Lottery and the Dragonara Casino amongst other activities, delivered exceptional growth in all key financial metrics, reinforcing its leading position in the market. Driven by a focus on innovation and operational excellence, the Group has achieved significant milestones, including a 23% increase in turnover (FY2024: €569 Million), 24% increase in player winnings (FY2024: €481 Million) and a 25% increase in Gross Gaming Revenue (FY2024: €86.5 Million).

The focus on revenue growth was complemented by a clear drive to optimise costs and improve margins, leading to a record EBITDA of €23.2 Million an increase of 68.2% on the previous year. This strong performance is a testament to the Group’s commitment to delivering value to its diverse customer base while maintaining a sharp focus on market trends and evolving consumer needs.

The results attained by the Group are underpinned by the strengthening of its corporate executive team, which has been instrumental in enhancing key strategic initiatives, such as reinforcing the Responsible Gaming framework and implementing a comprehensive Environmental, Social, and Governance (ESG) strategy. This approach ensures that IZI Group not only excels financially but also upholds its commitment to ethical business practices, sustainability, and social responsibility, crystallised by the attainment of the Responsible Gaming (RG) certification from the World Lottery Association (WLA) and European Lotteries (EL) and the recent award of the prestigious ISO/IEC 27001:2022 certification highlighting the company’s and Group’s commitment to operational excellence and information security.

Commenting on the results of IZI Group, Founder and Group CEO Johann Schembri was very positive about the achievements of the past year and the future outlook of the Group. “FY2024 has been a landmark year for IZI Group. Our customer-centric strategy, coupled with an unwavering focus on innovation, has enabled us to deliver exceptional results. By closely adapting to local market trends and the needs of our diverse customer base, we have consistently added value across all gaming product verticals.

We remain dedicated to our core values of innovation, responsibility, and sustainability, confident that this foundation will support further growth in the years to come. Our sights are now set on the international replication of our local success story setting out the next milestone we will be aspiring for.”

The IZI Group is now planning to pursue and integrate international business development opportunities within its core strategy. The Group is looking forward to leveraging its extensive experience and portfolio in the local gaming market and its valuable established relationships in the industry, to replicate the local business models on developing international opportunities.

For more information on IZI Group’s FY2024 financial performance, please visit this link.

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San Gwann Project Vjal ir-Rihan: Revised Towards More Sustainability

Oct 24 2024

During this week’s press briefing, Environment Minister Miriam Dalli provided an update on the San Gwann project, confirming that significant changes had been made to the original plans. The planned excavation will now be avoided, primarily due to environmental concerns. Dalli explained that this decision aims to reduce construction waste and minimise disruption and frustration for nearby residents.

The first phase of the project, which involves creating a garden with an underground car park underneath it, next to San Gwann parish church, is currently under review by the Planning Authority. Meanwhile, traffic studies are being conducted to determine how to reroute traffic without causing bottlenecks elsewhere. These studies are crucial to ensuring the project doesn’t lead to further traffic issues in the locality.

Architect Beverley Costa, leading the project, stated that while the plans have shifted, the core concept of reducing car dependency remains. Costa acknowledged that the revised design is ambitious but emphasised that it will support alternative mobility and ensure public transport retains access to the area.

The first phase is expected to begin in 2025, depending on when the necessary permits are approved, and will take around two to three years to complete. The second phase is planned to begin almost simultaneously. Minister Dalli expressed confidence that the project would be in a “very advanced” stage by the next general election.

Dalli also shared her personal vision for these projects, expressing her hope to see children playing in the streets again, as she did when she was young.

This project is part of a broader initiative led by Project Green, which is working on 118 environmental projects across Malta, including open spaces, valleys, and pedestrian zones. In 2024 alone, the organisation is expected to complete 19 projects, including 9 new open spaces and 11 valleys, all aimed at creating sustainable, accessible spaces for communities and promoting greener urban environments.

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Motorcyclist Grievously Injured After Crash In Naxxar

Oct 24 2024

Today, at around 0745hrs, police were informed of a traffic accident which took place in Triq Andrea Debono, Naxxar.

Police convened immediately o site and preliminary investigations showed that a crash had taken place.

Involved were a motorcycle driven by a 47 year old Italian man resident of Birkirkara and a Ford Transit van driven by a 25 year old man resident of Naxxar.

The motorcyclist was given preliminary medical aid and transported to Mater Dei Hospital. He was later certified as having suffered grievous injuries.

Police investigations are still ongoing.

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Former Tarzan Actor Ron Ely Passes Away Aged 86

Oct 24 2024

Former Tarzan actor Ron Ely sadly passed away aged 86 on the 29th of September at the home of one of his daughters, Kirsten Ely, in California.

On Wednesday, Kirsten revealed the previously unreported news, on her social media account, almost a month after the tragic passing away.

Ely was a veteran TV actor, best known for his role as Tarzan which first aired in 1966. Even though he had already played several roles on TV, Tarzan was Ely’s big break stating that he became too famous after his portrayal of the swinging jungle man.

Ely also revealed that after playing Tarzan, he had to go to Europe to find more acting jobs as in the USA everybody only saw him as Tarzan.

The show, which aired on NBC for 57 episodes over two seasons, presented a contemporary take on Tarzan.

This version moved away from the semi-verbal grunts of earlier adaptations; instead, it portrayed Tarzan as someone who had left the jungle to embrace modern civilization before ultimately choosing to return to the familiar comforts of his former home.

RIP to a TV legend.

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