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Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting
Dear Cashmere Holding Company (OTC: DRCR) also known as Swifty Global (Swifty), is a cutting-edge technology firm focused on creating ground-breaking solutions in the sports betting sector. Swifty aims to drive shareholder value through accelerated innovation and enhanced usability of the products the company develops. With licenses spanning several global jurisdictions, Swifty has successfully brought to market a revolutionary suite of offerings. This includes the companyâs proprietary swipe betting sports prediction application, as well as its traditional sportsbook and casino gaming platforms.
Swifty Global is pleased to announce the completion and publication of the companyâs quarterly disclosure, now available on the OTC Market website. For the second quarter of 2024, compared to the same period in 2023, the company reported a robust financial performance with the following key highlights:
- Cash on Hand: Increased by approximately 37%.
- Total Assets: Increased by $2.1 million, representing a growth of approximately 35%.
- Liabilities: Reduced by $1.1 million, a decrease of approximately 35%.
While revenue and net income were slightly reduced compared to Q2 2023, this outcome was the result of the companyâs contunued efforts to conservatively manage its risk profile by limiting exposure to larger players utilizing the Swifty platform, which in turn impacted the companyâs revenue and net income. Despite this, the companyâs strategic focus on long-term stability and growth has paid off. The impressive results from the second quarter have led to a significant increase in shareholdersâ equity, reaching $5.9 million. This achievement is a critical milestone, meeting the listing requirements for major exchanges and providing Swifty with a solid foundation for its planned transition to a major national exchange.
Throughout this quarterly period, the company has been highly focused on preparation for its uplisting to a national exchange, with a strong emphasis on balance sheet strength and risk reduction. By maintaining a disciplined approach and concentrating on building value, Swifty Global has prioritized financial stability by growing cautiously out of its own cash flow, avoiding debt, and minimizing dilution. This strategy has positioned the company extremely well for its next phase of growth and its planned transition to a major national exchange. This focus will continue into Q3 and Q4, with Swifty aggressively pursuing the uplisting process and aiming to be fully operational on a major exchange by Q4, 2024.
âWe take great pride in what we have achieved at Swifty and the strong financial health weâve maintained across the company as we release our Q2 2024 quarterly results. Our performance in Q2 is a testament to the disciplined approach weâve taken to build long-term value,â said James Gibbons, CEO of Swifty Global. âWeâve focused on fortifying our balance sheet and reducing risk, which has positioned us well for the next phase of our growth as we move toward listing on a major exchange. As we continue to execute our strategy, we remain committed to sustainable growth, leveraging our solid financial foundation to pursue new opportunities, expand our market reach, and deliver increased value to our shareholders.ââ
During this period, Swifty successfully obtained and was officially granted its gambling license for South Africa by the National Gambling Board. This license, along with the Irish license obtained in Q1 of this year, has positioned the company in a very strong position to grow and scale its product offering into new territories. After investing considerable time, effort, and resources in securing these licenses, the company is now poised to aggressively execute its scaling and growth strategy by expanding its market reach and operational capabilities into these markets, which have a combined gambling market valued at over $7.1 billion annually.
International Game Technology PLC
IGT Wheel of Fortune Video Poker Makes Global Debut at Downtown Grand Hotel & Casino in Las Vegas
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International Game Technology PLC announced that it recently introduced its much-anticipated Wheel of Fortune Video Poker game in the worldâs most prolific video poker market: Las Vegas, Nev. Guests of Downtown Grand Hotel & Casino (Downtown Grand) in Downtown Las Vegas became the first players in the world to enjoy legendary IGT multi-hand video poker paired with the puzzle-solving, wheel-spinning fun of Wheel of Fortune via IGTâs Wheel of Fortune Video Poker game.
âBecoming the first casino in the world to offer IGTâs Wheel of Fortune Video Poker was an exciting moment for Downtown Grand and one that generated palpable buzz and significant play on our gaming floor. For decades, our players have enjoyed IGT video poker and Wheel of Fortune slots, so combining the DNA of those two products to create something new is an exciting proposition for our players,â said Rick Coltor, Slots Manager at the Downtown Grand Las Vegas.
âLaunching IGT Wheel of Fortune Video Poker in Las Vegas, the worldâs largest video poker market, marked another important milestone in the rollout of our expanded Wheel of Fortune games portfolio. Our Wheel of Fortune Video Poker game delivers an ideal blend of proven multi-hand poker, jackpot excitement and the signature elements of Wheel of Fortune games that have propelled the themeâs success for more than 25 years,â said Nick Khin, IGT President, Global Gaming.
IGTâs Wheel of Fortune Video Poker is currently available on the CrystalCurve cabinet. Wheel of Fortune Video Poker incorporates the franchiseâs famous puzzle-solving features and the iconic âWheel Bonusâ that has had players chanting âWHEEL-OF-FORTUNE!â for decades. The multi-hand poker game is available in triple-play, five-play and ten-play configurations and can award players 30,000, 50,000 or 100,000 credits, respectively, for a dealt royal flush.
The post IGT Wheel of Fortune Video Poker Makes Global Debut at Downtown Grand Hotel & Casino in Las Vegas appeared first on Gaming and Gambling Industry in the Americas.
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MLB Players Inc., a commercial affiliate of the Major League Baseball Players Association, and OneTeam Partners announced theyâve reached a licensing agreement with PENN Entertainment.
The agreement designates PENNâs sports betting platforms â ESPN BET in the U.S. and theScore BET in Canada â as Officially Licensed Sportsbooks of MLBPI.
PENN now has the rights to use MLB player names, images and likenesses on its sports betting platforms, marketing assets and promotional campaigns.
The deal also includes PENNâs retail sportsbook operations (32 retail sportsbooks at its casino properties, including 19 under the ESPN BET brand).
Last fall, FanDuel and MLBPI reached a similar licensing agreement after the MLB playersâ union sued FanDuel and Underdog Fantasy in New York Supreme Court, accusing them of using the names and likeness of ballplayers on their players without permission.
âAs baseball season gets underway, weâre excited to offer fans an enhanced betting experience that includes player likenesses, expanded wagering options and a more dynamic product. Partnering with MLB Players Inc. strengthens our connection to the league and its star players and creates additional opportunities to engage fans throughout the season,â said Jason Birney, Vice President of Operations at PENN Interactive.
OneTeam Partners specializes in commercializing group licensing rights for professional athlates, and is a joint venture between the NFL Players Association, MLB Players Association, Womenâs National Basketball Players Association, MLS Players Association, and U.S. Womenâs National Team Players Association.
âBy integrating MLB player rights into PENN Entertainmentâs platforms, this partnership brings fans closer to the game while unlocking new business opportunities in sports betting. It highlights the growing influence of players in shaping premium, fan-focused betting experiences while enhancing player NIL rights and widening distribution,â said Frank Arthofer, President of OneTeam Partners.
The post MLB Players Sign Licensing Agreement with PENN Entertainment appeared first on Gaming and Gambling Industry in the Americas.
Caesars Entertainment
Caesars Entertainment Debuts its First Live Dealer Studio Inside One of its Caesars Rewards Destinations
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Caesars Entertainment Inc. announced the launch of its first branded, live dealer studio inside one of its world-class destinations made possible through its partnership with Evolution. The debut of the space inside Tropicana Atlantic City in New Jersey marks the second custom studio made for Caesars live dealer offerings on its online casino platforms following the launch of its first such studio in Pennsylvania earlier this year.
Players 21 and older on Caesarsâ online gaming platforms Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino can now enjoy a live dealer experience on mobile that draws inspiration from table game play at the Las Vegas Stripâs most iconic casino, Caesars Palace.
âThe opening of this branded studio at one of our Caesars Rewards destinations introduces the newest addition to our ever-expanding online gaming platforms. Weâre always striving to marry the world-class experiences our players enjoy at our destinations with the online casino play they love,â said Matt Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital.
The New Jersey studio features five blackjack tables, which includes a VIP-exclusive blackjack table, one baccarat table and one roulette table. The tables feature custom felts with imagery and branding from iconic Caesars destinations on the Las Vegas Strip including Caesars Palace & Horseshoe. The studio also caters to VIP players, much like Caesars Rewards destinations, with a VIP-exclusive blackjack table offering an authentic 1-to-1 live high-limit blackjack experience, that could previously only be found in a physical casino.
âEvolution is thrilled to open a second dedicated Caesars live dealer studio inside Tropicana Atlantic City. This studio was made possible through our close partnership with Caesars. Once fully operational, it will generate approximately two hundred job opportunities in Atlantic City. Weâre very proud to see a concrete example of how iGaming helps to create jobs and develop the workforce in our local communities,â said Jacob Claesson, Chief Executive Officer of Evolution North America.
Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino are available on iOS, Android, and desktop for those 21 and older in New Jersey, Pennsylvania, Michigan, Ontario, and West Virginia. Each platform offers a dynamic online casino experience with a range of unique Caesarsbranded games alongside hundreds of classic land-based casino favorites and core casino game mechanics, including high limit slots, private live dealer tables, linked progressive jackpots, variations of poker and roulette, and more.
The post Caesars Entertainment Debuts its First Live Dealer Studio Inside One of its Caesars Rewards Destinations appeared first on Gaming and Gambling Industry in the Americas.
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