Canada
Largest ever US-based company to be admitted to the London Stock Exchange commences trading on AIM
US video game publisher Devolver’s admission to trading in London is one of the largest ever floats on AIM and illustrates continued consumer and investor enthusiasm for digital gaming.
European law firm Fieldfisher has advised award-winning US video game publisher Devolver Digital, Inc. on its admission to trading to London’s AIM market, raising approximately US$261 million (£190 million) and valuing the company at a US$950 million (£694.6 million) market cap – making it one of the largest ever floats on AIM.
Shares in the company commenced trading at 8am today, Thursday 4 November.
This transaction marks the start of Devolver’s next stage of growth, providing US$50 million of gross proceeds to the company to accelerate its growth strategy and expansion plans. The transaction also included a secondary cash placing of US$211 million for management and existing investors, including strategic investor NetEase, Inc, who retain an investment in the company.
The ground-breaking transaction means Devolver will be the second-largest company (by market capitalisation) ever admitted to trading on AIM and the largest ever US-based operating company to be admitted to the London Stock Exchange across all markets. The placing has seen Devolver receive a significant strategic investment from a key industry player, as well as support from US institutional investors through the 144a placing.
Founded in 2009 and headquartered in Austin, Texas and London, UK, Devolver is an award-winning video games publisher in the indie games space.
With an emphasis on curating and publishing premium games, Devolver has a back catalogue of approximately 90 video game titles, including indie cult classics such as Fall Guys, Downwell and Enter the Gungeon.
Devolver has begun to selectively acquire studios and IP that enhance its pipeline and support its long-term international growth strategy.
Since the beginning of 2020, Devolver has acquired five of its long-term partner development studios and a second publishing brand.
The company has approximately 200 team members in Europe, North America and Asia, as well as subsidiaries in the UK, Netherlands, Croatia, Poland and the US.
Devolver works with a number of leading video game providers in the PC (Steam, GOG, Humble Bundle and Epic Games), console (PlayStation and Xbox) and mobile (Apple, Google Play, NetEase Games, BiliBili and Tencent Games) markets.
The company intends to use its AIM listing as a platform to fund its international, long-term growth strategy and increase its profile and brand-awareness globally.
Commenting on Devolver’s successful admission to AIM, Ed Westhead, corporate partner at Fieldfisher said:
“Devolver’s IPO is one of the standout deals on AIM this year and in the history of the junior market, which continues to provide an excellent, globally recognised platform for growing companies to attract capital and build their profile.
“Having recently advised on a number of significant transactions for video games companies, we can attest to the high levels of activity in this sector and the strength of interest in digital leisure activities.
“We wish Devolver the best of luck on its future as London-listed company.“
Douglas Morin, Chief Executive Officer of Devolver Digital, said:
“An IPO is the right choice for us to ensure our continued growth and support even more wonderful games. Most importantly it will allow us to retain our culture.
“Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in our growth strategy and talent.”
Brian Chadwick, Devolver’s General Counsel, said:
“This is a transformational step for Devolver. As a leading US games company, coming to AIM gives us the opportunity to work with people who understand our culture, the commercial drivers in the games industry and what we are trying to achieve.“
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BetConstruct
BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity
BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.
The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.
This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.
“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.
The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.
This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.
The post BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity appeared first on Gaming and Gambling Industry in the Americas.
Canada
Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria
Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.
The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.
“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.
“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.
“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.
Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”
“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.
The post Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria appeared first on Gaming and Gambling Industry in the Americas.
Canada
Ottawa Black Bears Announce Partnership Deal with PowerPlay
The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys.
In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring, and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.
“We are thrilled to have PowerPlay on board for our inaugural season with such a comprehensive partnership agreement. Their investment with the Black Bears represents a foundational agreement for our lacrosse club. And we’re proud to wear their logo alongside ours as we launch our franchise,” said Chelsea McDermott, Vice President of Business Operations for the Ottawa Black Bears.
“We are excited to bring PowerPlay’s bold, community-driven spirit to Ottawa-Gatineau, partnering with the Black Bears as they establish themselves as a force in lacrosse. This partnership celebrates a sport deeply tied to Canada’s heritage and competitive energy. Together, we’ll ignite passion, energize fans, and deliver excitement all season long,” said Thomas Vermeulen, Marketing Director for PowerPlay.
The post Ottawa Black Bears Announce Partnership Deal with PowerPlay appeared first on Gaming and Gambling Industry in the Americas.
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