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Tiidal Announces Agreement to Sell Sportsflare to Entain

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Tiidal Gaming Group announced that it and its wholly-owned subsidiary, Tiidal Gaming Holdings, have entered into a share sale and purchase agreement with Entain Holdings (UK) Limited, pursuant to which Tiidal Holdings will sell all of the shares of the Company’s operating subsidiary, Tiidal Gaming NZ Limited (Sportsflare), to Entain. Sportsflare is one of the leaders in developing bet types for the esports betting space. Sportsflare has created market-leading innovations, such as Flash Markets, that allows users to bet in-game on live esports events.

Pursuant to the terms of the Purchase Agreement, Tiidal Holdings has agreed to sell all of the issued and outstanding shares of Sportsflare (the Purchased Shares) to Entain for consideration of $13,250,000 in cash (the Purchase Price), subject to standard transaction adjustments. The Purchase Price will be retained by Tiidal in a holding account for 180 days following the closing, during which period Tiidal may access the funds to satisfy any working capital adjustment or claims brought by Entain and may access up to 20% of the funds to pay reasonable costs related to the Transaction.

The Transaction was negotiated at arm’s length and is subject to a number of conditions customary for a transaction of this nature, including approval of Tiidal shareholders and receipt of all required consents. The Purchase Agreement includes payment of a $500,000 termination fee that is payable by Tiidal Holdings to Entain in the case of certain terminating events.

“I am incredibly proud of what the Sportsflare team has done over the last year. Given the capital markets environment, we believed it was best to find a great home for Sportflare in order to maximize value for Tiidal shareholders. Sportsflare will be a great fit with Entain’s strong presence in the industry and our board of directors is confident that Sportsflare joining Entain is the best long-term solution for its employees and partners,” said Thomas Hearne, Chief Executive Officer of Tiidal.

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The Company will seek shareholder approval of the Transaction at a meeting of shareholders held to consider and approve the Transaction. The Meeting is expected to be held on April 26, 2023.

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Canada

Great Canadian Entertainment Appoints Pauline Alimchandani as CFO

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Great Canadian Entertainment has announced that it has appointed Pauline Alimchandani as Chief Financial Officer, effective March 31, 2024, subject to customary regulatory approvals. At that time current CFO Darren Gwozd will step down from the role. Ms. Alimchandani will be responsible for overseeing the Company’s finance organization.

“I am delighted to welcome Pauline to our exceptional senior management team. Her extensive public company experience and deep record of successful leadership roles in finance, capital markets and financial reporting, will be immensely valuable as we continue to remain focused on delivering long-term growth and creating value for our stakeholders in a socially responsible way. I look forward to her contributions,” Matthew Anfinson, Chief Executive Officer of Great Canadian, said.

“Darren has been a valuable member of our Finance team for more than six years and has helped lead our organization through a transformational period. On behalf of the Board of Directors, the senior management team, and Great Canadian’s team members, we want to thank Darren for his many years of leadership,” Mr. Anfinson added.

“I am very excited to join Great Canadian and see significant opportunity to build upon the Company’s strong financial and operational foundation, while developing capabilities that further establish the Company’s competitive advantage,” Ms. Alimchandani said.

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Prior to joining Great Canadian, Ms. Alimchandani was Chief Financial Officer for Northland Power, where she oversaw a large global team across several key functions and chaired the organization’s Investment Committee. Ms. Alimchandani has over 18 years of professional experience, previously having served in roles that included Executive Vice President and Chief Financial Officer of Dream Unlimited Corp, Vice President, Corporate Strategy at Dream, and Vice President, Equity Research at BMO Capital Markets. In 2020, she was awarded one of Canada’s 50 Best Executives by the Report on Business/Globe and Mail and in 2022, she was awarded Canada’s Clean 50, which is noted as being Canada’s top sustainability award.

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Alex Pratt

Clarion Gaming Digital Expands North American Reach with Global Gaming Business Acquisition

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iGaming Business (iGB) parent company Clarion Gaming Digital has acquired Global Gaming Business (GGB) as it accelerates its growth strategy across North America.

The purchase includes GGB magazine’s annual publications Casino Style, Tribal Government Gaming and Progressive Products Preview (P3) as well as its online assets including GGB News.

It will extend the digital publishing business’ global reach as the North American market enters a crucial phase, providing clients with access to a significantly bigger audience through its range of marketing services products.

Founded in 2002, GGB is trusted title with a reach beyond sports betting and iGaming into commercial and tribal gaming. It bolsters Clarion Gaming Digital’s ability to provide a comprehensive range of news, analysis and data to every sector of the industry.

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The acquisition is a cornerstone of a wider multimillion pound investment to enhance Clarion Gaming Digital’s data and audience development.

“This is a major milestone for our digital business as we unlock the benefits of our investment,” the Managing Director for Clarion Gaming, Alex Pratt, said. “We are acquiring a business with deep industry heritage and with it the opportunity to build on its solid foundations in the United States.”

The B2B Global Content Director for Clarion Gaming Digital, Robin Harrison, said the acquisition came amid changes to state regulations as well as new land-based and online developments across the United States and Canada.

“We are delighted to seal this deal, which brings in new industry expertise to the team, expands our reach and consolidates our presence in a crucial region,” Harrison said. “We will build an offering that acts as the final word on key industry developments and GGB’s authority and relationships takes us a step closer to that goal.”

“We have had lengthy discussions with Clarion Gaming Digital in recent years and believe it shares our passion and vision for serving our readership in a way that will maintain the quality of the publications for decades to come,” the publisher and Chief Executive Officer for Casino Connection International LLC, the parent of GGB, Roger Gros, said. “As the gaming industry continues to grow in many different ways, our relationship with Clarion will make certain that our pivotal role in the industry remains unchanged and we can continue our important work going forward.”

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Clarion Gaming Digital plans to further accelerate its North American expansion by leveraging unique partnerships on offer through the wider Clarion Events portfolio such as the DigitalPlay Summit at the Indian Gaming Tradeshow and Convention over April 10 to 11.

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Altenar

ReactivAction Limited Partners with Fast Track to Underpin Growth Strategy, Starting with the Brazilian Market

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ReactivAction Limited, an ambitious new player in the iGaming industry offering online casino games and sports betting, has gone live with Fast Track, marking a strategic move to cement a stronghold across multiple markets, starting with Brazil.

This partnership not only marks a dynamic alliance but also a ground-breaking integration of Fast Track with Altenar’s renowned player account management (PAM) platform. This innovative collaboration highlights Fast Track’s exceptional ability to seamlessly integrate with various leading iGaming systems, further cementing its position as the industry’s most versatile and adaptable CRM solution provider.

With plans to expand beyond Brazil into Canada, New Zealand and Ireland through a second brand, ReactivAction Limited was on the lookout for a long-term partner that not only understands its growth trajectory but is also a critical driving force behind its growth. By leveraging Fast Track’s state-of-the-art AI-driven tools, lifecycle automation and real-time data analytics, ReactivAction Limited is poised to elevate its player engagement and retention strategies. This advanced technology empowers ReactivAction Limited to customize communications, personalised promotions and bonuses, aligning them with individual preferences and behaviours for a more tailored and engaging gaming experience.

“We were looking for a platform that sets us up for success from day one, making it possible to execute and automate the entire retention strategy, a system that could scale and mould around our expansion and provide solutions to our unique challenges,” the Director for ReactivAction Limited, Leone Stranges, said. “Fast Track’s lifecycle templates, real-time capabilities and experience within the industry made it a straightforward choice.”

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“We are always excited at the prospect of empowering a forward-thinking operator through our platform,” the founder and Chief Executive Officer for Fast Track, Simon Lidzen, said. “We look forward to a fruitful long-term relationship to support ReactivAction Limited’s growth trajectory as it expands its brand into new markets.”

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