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Gaming industry heavyweights team up to launch $250m gold-standard SPAC

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The SPAC market may be flavor of the month on Wall St, but few can boast the credentials of Tekkorp Digital Acquisition Corp (TDAC). Bringing together first-class industry expertise, TDAC announced its $250m initial public offering on the Nasdaq and is now ready to accelerate the future and develop its mission to unlock the potential of fast-growing digital sports, media, entertainment and gaming companies by bringing speed and certainty to the process of becoming public.

Leading the blank check company’s $1bn-plus acquisition plans are Matt Davey, CEO, and Robin Chhabra, President, backed up by a board of directors which features a who’s who of digital and gaming industry titans, including former Caesars’ CEO Tony Rodio, Sean Ryan from Facebook, and Atlantic City veteran Morris Bailey.

This management team combines for an unrivalled track record of building, investing, nurturing, acquiring and leading digital companies in the public markets across an ever-evolving media, sports, entertainment, leisure and gaming landscape. It intends to start an aggressive acquisition drive to identify this sector’s most innovative and exciting companies whose transformation into public entities will foster metamorphic growth impact.

Matt Davey is an experienced public company executive officer, who has overseen more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led. Most recently, he was CEO of SG Digital, the digital division of Scientific Games Corp. following a $631m purchase in 2018 by Scientific Games of NYX Gaming Group Ltd, where Davey also previously served as CEO.

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For his part, Chhabra has been front and center of many of the biggest M&A deals in the digital gaming marketplace over the past decade, namely when at The Stars Group and William Hill, as well as launching FOX Bet, a landmark media-betting partnership with FOX Sports, as CEO.

Leveraging deep experience and expertise, alongside an extensive network of long-standing relationships, TDAC is uniquely positioned to strategically identify, evaluate and grow target businesses.

The leadership team’s members have been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, invariably creating and realizing significant shareholder value amid the complexity and risk of M&A consolidation.

By corralling and maximizing the potential of its target(s), this emerging force plans to capitalize on the convergence of sports, media and gaming and the rapid growth and regulation of these sectors powered by the inexorable and catalytic trend towards the digitization of entertainment.

Matt Davey, Chief Executive Officer, said: “An acquisition by a blank check company with a management team that is well-known to, and respected by, technology company founders, their current third-party investors, their management teams and the public markets, we believe, can provide a more transparent and efficient mechanism to bring a private technology company to the public markets.”

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“We intend to focus our target-sourcing efforts on assessing companies that we believe would benefit significantly from being publicly-traded.”

Robin Chhabra, President, added: “We look forward to providing attractive investment opportunities to our shareholders which capitalize on trends that fundamentally reshape the way we consume sports, media, gaming and entertainment.”

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AGCO Removes Cap on Seller Commission for Charitable Lottery Products

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The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.

Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.

These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.

Important Reminders

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• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.

• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.

• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.

• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.

For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.

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Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation

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Leading business, technology, finance, and gaming law firm, Segev LLP, is proud to announce its 10th anniversary. Over the past decade, Segev has evolved from a bold idea into a multi-jurisdictional firm serving clients across Canada, the U.S., and beyond.

Built for innovation-driven industries, the firm is widely recognized for its work with companies at the forefront of gaming, crypto, technology, and emerging sectors. “Our 10-year anniversary is a defining moment,” said Founding Partner, Ron Segev. “It’s a testament to the strength of our team and our culture of teamwork, self-improvement, and growthall of which is directed at scoring wins for our great clients.”

As industries like fintech, crypto, iGaming, and AI have matured, so has the firm, often in parallel with its clients. “We’ve all grown together with our clients from one success to the next, whether it be helping clients complete financings or helping them close business,” said Managing Partner Alon Segev. “I look forward to continued growth for us and our clients in the next 10 years!”

The firm’s client-first approach has consistently earned recognition from top legal ranking guides. Segev LLP is ranked by Chambers and Partners as a “Leading Firm” and “Band-1” in Canada for Gaming Law and are also recommended by The Legal 500 and Lexology. These rankings reflect the team’s ability to deliver strategic, high-quality legal solutions that align with their clients’ business goals.

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Recognized for their unique ability to exceed expectations and deliver out-of-the-box solutions, Segev LLP’s clients have affirmed: “The firm demonstrates its capability not only to understand complex matters, but also to offer solutions that are practical, pragmatic, and value-adding.”

“Segev possesses outstanding resources and maintains global partnerships, enabling it to deliver precise and informed responses to any queries related to the iGaming industry.”

“Epic service, very good, I won the case!”

“Great service, friendly atmosphere, and support.”

Several Segev team members also reflected on the milestone: “There was a moment early in my time here when I realized I wasn’t just being brought in to help; I was expected to contribute, take initiative, and run with big ideas. That stuck with me,” said Negin Alavi.

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“Together with our clients, [Segev] has experienced remarkable growth over the past decade. I’m honored to have contributed to this journey and to celebrate these shared successes,” said David McHugh.

Segev has cultivated a thriving law practice on the principle that challenges are to be embraced as opportunities. The approach has enabled us to grow as lawyers, but more importantly, it has enabled us to ensure the success of our clients,” said Mark Balestra.

“Since joining through Segev’s Ontario expansion, I’ve had the chance to work alongside some of the sharpest and most collaborative lawyers in the gaming space,” added Manav Bhargava. “As a full-service firm and industry leader, Segev stands out for its ability to support innovative businesses with practical, forward-thinking legal advice.”

Segev LLP will commemorate the anniversary with a series of internal and external initiatives throughout the remainder of the year.

The post Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation appeared first on Gaming and Gambling Industry in the Americas.

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INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE

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Incentive Games, a leading B2B games provider, is proud to announce that it has been awarded an Ontario Gaming License by the Alcohol and Gaming Commission of Ontario (AGCO), effective today. This achievement enables the company to offer its portfolio of real-money games to licensed operators and players across the province.

The license underscores the Incentive Games’ commitment to meeting the highest standards of compliance, security, and operational excellence. The rigorous application process demands robust security protocols and comprehensive responsible gaming measures and affirms the company’s readiness to enter one of Canada’s most dynamic iGaming markets.

The North American market is a strategic focus for Incentive Games, and this milestone follows closely on the heels of the company receiving its Provisional Michigan gaming licence from the Michigan Gaming Control Board earlier this month.

Incentive Games will distribute its real-money gaming content in Ontario through Incentive Studios, the company’s dedicated Real-Money Gaming division, ensuring a focused and tailored approach to the market.

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“Ontario represents a huge opportunity for us, and securing this license is a proud moment for the whole team,” said John Gordon, Chief Executive Officer at Incentive Games. “It reinforces our dedication to meeting the highest standards while delivering compelling real-money content. We’re looking forward to building strong relationships in the region and continuing our momentum across regulated markets worldwide.”

The post INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE appeared first on Gaming and Gambling Industry in the Americas.

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