Gambling in the USA
Galaxy Gaming Agrees to Purchase Progressive Games Partners Deal Gives Galaxy Direct Control over iGaming Activities
Galaxy Gaming, Inc. announced that it has entered into an agreement to acquire 100% of the equity interests in Progressive Games Partners LLC. PGP owns the exclusive worldwide online rights to a comprehensive suite of proprietary casino table games. Since signing its first license agreement with Cryptologic in 2003, PGP has developed close working relationships with the leading online operators and platform providers across the western world. An integral part of PGP’s success has been founded upon its exclusive online distribution rights for Galaxy’s gaming content, as well as other world-renowned games such as Perfect Pairs and Caribbean Stud Poker through its other licensors.
Pursuant to the Purchase Agreement, Galaxy will pay $12.425 million to acquire all of the equity interests in PGP. Of the consideration, at least $6.425 million but no more than $10.425 million will be paid in cash; any amounts not paid in cash will be paid in newly issued shares of Galaxy’s common stock valued at $1.91 per share.
Galaxy expects that the acquisition of PGP will be accretive to earnings per share upon closing.
This transaction will enable Galaxy to more efficiently and effectively exploit the opportunity provided by the rapidly expanding online casino market in the US by both building on our many close relationships with casino groups who are expanding their sphere of operations online, and by gaining exposure to new markets and opportunities through our newly acquired online clientele.
Completion of the transaction is subject to certain conditions, including regulatory approvals.
Executive Comments:
“We see online gaming as a key development and expansion area for our business and believe that our great table games will be received well as more and more markets open iGaming,” said Todd Cravens, Galaxy’s President and CEO. “This transaction positions us in several ways to control our own destiny in online gaming. First, we get direct relationships with the major online players. Second, we get full control of how our own content – and the content we get from others – is licensed to those operators. And we are taking all these steps as online gaming is expanding across the United States. We’re excited to by this opportunity and challenge.”
“Galaxy’s games have been our most important revenue producers,” stated Chris Reynolds, PGP’s CEO. “I have no doubt that those games will continue to enjoy great popularity and success in the regulated online gaming markets, and we are already developing our strategy and relationships to ensure that they will be well positioned to participate in the expanding US market. I look forward to working with Todd and the Galaxy team to continue as one entity the success we have had separately.”
Dr. Jennifer Shatley
New Trade Association Launches Unprecedented Effort to Strengthen Responsible Online Gaming, Promote Best Practices
The Responsible Online Gaming Association (ROGA), an independent trade association launched by seven of the largest U.S. legal mobile gaming companies, will actively promote a new industry-wide best practices charter, overseen by one of the world’s foremost experts in the field of responsible gaming (RG).
This unprecedented effort will be led by Dr. Jennifer Shatley, a deeply respected responsible gaming executive with more than 25 years of experience in the industry. She will serve as ROGA’s full-time Executive Director, and her role will be to facilitate widespread education to all relevant parties on the subject of responsible gaming.
ROGA will embark on a series of initiatives under Dr. Shatley’s direction. These include research, consumer and industry responsible gaming education and awareness, promoting responsible gaming best practices, an independent data clearinghouse, and an independent certification program.
Demonstrating their commitment to this endeavor, initial member companies – who together represent more than 85% of the legalized online sports betting and iGaming industry – have pledged more than $20 million in support of ROGA’s mission in year one. ROGA’s member companies include BetMGM, bet365, DraftKings, Fanatics Betting and Gaming, FanDuel, Hard Rock Digital, and PENN Entertainment.
“I am humbled, honored, and excited to be selected to lead ROGA during this important period of growth in legalized mobile gaming. Many of America’s largest legal mobile gaming operators will be establishing a framework that helps to aid in responsible gaming education and awareness. Together, our members will work alongside researchers, experts, regulators and stakeholders to promote responsible online gaming and maximize our efforts to support additional responsible gaming education and awareness. By coming together with a clear set of objectives, ROGA and our members will work to enhance consumer protections and help provide easier and more efficient access to responsible gaming tools for consumers to enjoy the entertainment of online gaming,” said Dr. Shatley.
Compliance Updates
Play’n GO awarded Pennsylvania license
Play’n GO has continued on its upward trajectory in North America by landing its latest US iGaming licenses and will soon supply its award-winning content portfolio to operators and players in Pennsylvania and Delaware
These licenses are the fifth and sixth obtained by the Swedish gaming giants in the USA, following New Jersey, Michigan, West Virginia, and Connecticut.
Play’n GO have taken a dual-pronged approach to its strategy in North America, with these US licenses being complimented by the company’s success north of the border in Canada, where Play’n GO was one of the first suppliers to be licensed to supply slot games in the province of Ontario.
Although early in its American journey, Play’n GO games such as Piggy Blitz, make regular appearances in the top 15 most popular titles in all of North America*.
Magnus Olsson, Chief Commercial Officer for Play’n GO, said: “Play’n GO content is the most conducive to player retention across the industry. With player acquisition costs sky high in the US, we’re pleased to be able to offer operators in Pennsylvania access to our content which will keep players coming back for more.
“We are determined to be the number one casino gaming supplier in every regulated market in the world, and given that we are thriving in more than 25 jurisdictions around the world where we have a license, we fully expect a similar success story in Pennsylvania in the coming years.”
Play’n GO is set to release more than 50 online slot titles in 2024 and is active in more than 25 regulated jurisdictions worldwide, including Ontario, New Jersey, Michigan and West Virginia in North America.
Experi-MENTAL
Lightning Box concocts scientific experiment with new release Experi-MENTAL
Light & Wonder, Inc. (NASDAQ and ASX: LNW) (together with its subsidiaries, “Light & Wonder” or “L&W”) announced the launch of its new game, Experi-MENTAL, stacked with features, modifiers and a clash with the mad scientist.
Experi-MENTAL has two in-game features to enhance the overall player experience.
This 3×5 title, exhibits the distinctive Expanding Wild Feature, which can award huge prizes for players should the Wild Brain symbol expand and replicate by five times during the Free Games round.
When players enter the mad scientist’s lab, they will stumble across the Upgrading Feature, which zaps the 9, 10, J, Q, K or A symbols into high-paying icons, including Test Tubes, Power Switch, Cat, Pug or Man. The wins are then accumulated and paid out once the reels have stopped spinning.
The Barrel Pick Feature can radio-activate the feature by awarding an extra 15 Free Games, as players are presented with highly dangerous barrels with an unknown material.
A meter appears when players select a barrel, with a red area and a green area in view. Landing on the meter’s green area ensures the Free Games round is triggered and additional games are awarded but landing in the red zone activates only the round itself.
The classic Free Games mode is unlocked when Scatter symbols appear, with five Scatters granting the maximum of 10 Free Games and the Barrel Pick Feature. During the round, Free Games can be retriggered at any time.
Experi-MENTAL is set to go live with Caesars in New Jersey, Michigan and Ontario initially, and will be available at a later date to customers of Light & Wonder’s industry-leading OPENGAMING platform.
Michael Maokhamphiou, Studio Director at Lightning Box, said: “Experi-MENTAL is one Wacky slot game, and we believe it can propel our slots onto the next level.
“During this game, players can unlock some new features, which add a dramatic element to this slot and classic round that are a cornerstone of Lightning Box’s portfolio. We are in no doubt will love taking on the mad scientist in this epic title.”
Rob Procter, VP of Game Development at Light & Wonder, said: “2024 is going to be a big year for Lightning Box and the launch of Experi-MENTAL gives players the opportunity to showcase this thrilling game.
“With a variety of different features exhibited on this captivating title, it sets Lightning Box apart from its competitors, ensuring the player experience is unrivalled.”
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